Top Stories in Crypto This Week: FOMC Meeting Insights, ETHFI Airdrop Season 3, and Other Updates
Top Stories in Crypto This Week– This week, some major news has captured the attention of crypto investors and enthusiasts alike.
The release of the Federal Open Market Committee (FOMC) meeting minutes, Etherfi’s airdrop Season 3 launch, and several other significant developments are expected to influence the decentralized finance (DeFi) sector and the broader crypto industry.
FOMC Meeting Minutes and Other Key Macro Data Releases
This week, the crypto market is preparing for several key macroeconomic data releases, notably the FOMC meeting minutes and the non-farm payroll figures for June. Analysts are anticipating the addition of 180,000 new jobs in June, which would maintain the unemployment rate at 4%, its highest level since February 2022. May initially showed promise with a gain of 272,000 jobs, boosting economic confidence despite signs of a slowdown.
Investor concerns about the momentum of the US economy may increase if the numbers fall below expectations. June’s data revealed ongoing unemployment claims at 1.84 million, the highest since November 2021, underscoring challenges for job seekers. Attention will also be on the growth in average hourly earnings, expected to decrease to a post-pandemic low of 3.9% year-on-year in June.
Analysts believe these insights will have a significant impact on Bitcoin (BTC) and the broader crypto market. According to crypto analyst CrypNuevo, Bitcoin has shown initial indications of potential market movements.
They have identified two critical liquidity areas of interest. The first is between $62,500 and $63,500, marking the primary short-term liquidity zone. The second area is around $67,100, considered a significant mid-term zone.
CrypNuevo also highlighted a noteworthy issue in the opposite direction involving a long wick. They anticipate it will likely be filled to balance the gaps in open interest.
Zero1 Labs Unveils Its Latest Community Program
Zero1 Labs, a decentralized AI solution, has introduced a significant initiative for its community. This activation involves more than 25 prominent communities and aims to further decentralize its native token, DEAI.
The new Community Program is designed to enhance engagement within crypto communities and position Zero1 Labs as the leading AI crypto community. It offers exclusive rewards to new supporters through strategic partnerships with top community projects.
By collaborating with established communities, Zero1 Labs provides participants with opportunities to claim a portion of a $2 million DEAI prize pool. The protocol aims to incentivize current supporters while attracting newcomers interested in exploring decentralized technology and AI.
Participants can earn rewards by actively engaging with the community and creating original content about Zero1 Labs. Additional rewards can be earned by completing various social tasks such as following on X, joining the Discord community, and discussing DEAI on X. Each action accumulates points, increasing the chances of receiving rewards.
The Community Program is set to launch on July 3, 2024. To ensure fairness, snapshots of specific communities will be taken the day before the announcement to determine eligibility. This approach gives participants a limited window to participate in social activities and maximize their rewards.
Introduction and Listings of NATIX Token
NATIX Network is set to launch its token, NATIX, on July 2. Simultaneously, leading crypto exchanges such as KuCoin and Gate.io will list the NATIX token on their platforms.
This launch is expected to offer substantial opportunities for traders and investors as NATIX becomes accessible on major exchanges. NATIX leverages AI to power a dynamic mapping system enhanced by decentralized physical infrastructure (DePIN) and the driver community.
Etherfi Unveils ETHFI Airdrop Season 3
Etherfi, a protocol that provides liquid restaking services on the Ethereum network, has recently revealed specifics about its Season 2 ETHFI airdrop. Here’s the schedule: the eligibility verification checker tool will be released on July 5, and the official claiming of airdrops is scheduled for July 8.
Moreover, there’s exciting news for Season 3 ahead. Etherfi has pledged to distribute 25 million ETHFI tokens, with allocations based on the level of engagement and participation of each community member.
Season 3 commenced on July 1 and is scheduled to continue until early September. Distribution of the airdrop will follow the conclusion of the season.
SUI and Significant Token Unlock Events
Ethena (ENA), the synthetic currency protocol on Ethereum, will release 14.89 million of its native token, ENA, allocated for ecosystem development. According to Token Unlocks data, these tokens account for 0.92% of ENA’s circulating supply and are valued at approximately $7.62 million as of now.
zkSync Unveils Elastic Chain in Version 3.0 Roadmap
zkSync, an Ethereum layer-2 (L2) network, has introduced a new feature called Elastic Chain as part of its latest zkSync 3.0 roadmap. The v24 upgrade transforms zkSync from a single ZK chain into an Elastic Chain. This Elastic Chain includes multiple chains within the zkSync ecosystem, providing users with a unified chain experience.
Matter Labs, the team behind zkSync, describes the Elastic Chain as an infinitely extensible network of ZK chains, encompassing rollups, validiums, and volitions. These chains are secured by mathematical proofs and offer seamless interoperability, providing users with a unified and intuitive experience.
In a June 29 announcement, the zkSync team committed to providing further details this week on how these ZK chains will integrate seamlessly. This new feature is expected to significantly enhance the network’s capabilities and user experience.
For the latest in crypto updates, keep tabs on Crypto Data Space.
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