Next Week in Crypto: Key Events to Watch (Nov 18th -24th, 2024) 🗓
Next week is filled with a variety of events, ranging from token unlocks to US economic data—here’s what to keep on your radar:
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🔐 November 18 – AVAX Token Unlock
Avalanche (AVAX) will unlock 1.67 million tokens, worth approximately $57 million, representing 0.41% of its total supply.
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💎 November 19 – Bitwise Aptos Staking ETP Launch
Bitwise is set to launch the first-ever Aptos Staking ETP (APTB) on the SIX Swiss Exchange, providing European investors access to staked Aptos (APT). The ETP is physically backed and stakes the underlying APT to generate a yield of approximately 4.7%.
This marks Bitwise's second staking ETP, following its Ethereum offering, and underscores the growing interest in Aptos from institutional and retail investors alike.
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🔐 November 20 – ENA Token Unlock
Ethena (ENA) is scheduled to unlock 12.86 million tokens, valued at approximately $7 million, representing 0.45% of its total supply.
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📊 November 21 – Initial Jobless Claims (US)
With last week’s CPI proving to be sticky and Fed Chair Jerome Powell stating that the Fed does not need to be "in a hurry" to reduce interest rates, the odds of a December rate cut have shifted, increasing the likelihood of a pause.
While several data points between now and then will shape the Fed's decision, one key indicator to watch is the weekly Jobless Claims data, which has been trending downward in recent weeks. If this trend continues, it would signal strength in the job market, reinforcing the likelihood of a pause in December. This could be interpreted as bearish for markets, though jobless claims alone are not a strong enough indicator to determine the December rate outlook.
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That’s all for this week’s action! Be sure to keep an eye on these events, and we’ll be back with more updates in the next week’s roundup.
Next week is filled with a variety of events, ranging from token unlocks to US economic data—here’s what to keep on your radar:
---
🔐 November 18 – AVAX Token Unlock
Avalanche (AVAX) will unlock 1.67 million tokens, worth approximately $57 million, representing 0.41% of its total supply.
---
💎 November 19 – Bitwise Aptos Staking ETP Launch
Bitwise is set to launch the first-ever Aptos Staking ETP (APTB) on the SIX Swiss Exchange, providing European investors access to staked Aptos (APT). The ETP is physically backed and stakes the underlying APT to generate a yield of approximately 4.7%.
This marks Bitwise's second staking ETP, following its Ethereum offering, and underscores the growing interest in Aptos from institutional and retail investors alike.
---
🔐 November 20 – ENA Token Unlock
Ethena (ENA) is scheduled to unlock 12.86 million tokens, valued at approximately $7 million, representing 0.45% of its total supply.
---
📊 November 21 – Initial Jobless Claims (US)
With last week’s CPI proving to be sticky and Fed Chair Jerome Powell stating that the Fed does not need to be "in a hurry" to reduce interest rates, the odds of a December rate cut have shifted, increasing the likelihood of a pause.
While several data points between now and then will shape the Fed's decision, one key indicator to watch is the weekly Jobless Claims data, which has been trending downward in recent weeks. If this trend continues, it would signal strength in the job market, reinforcing the likelihood of a pause in December. This could be interpreted as bearish for markets, though jobless claims alone are not a strong enough indicator to determine the December rate outlook.
---
That’s all for this week’s action! Be sure to keep an eye on these events, and we’ll be back with more updates in the next week’s roundup.