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Cryptocurrency News Articles
Inflation Soars: CPI Data Raises Red Flags for Fed Policy
Apr 11, 2024 at 03:04 am
Today's Milk Road newsletter explores the latest CPI results, which show inflation remaining elevated at 3.5%. The newsletter offers insights on how to navigate the crypto market cycle, introduces a new gaming device designed for web3, and analyzes the trend of long-term Bitcoin holders selling. Additionally, it highlights notable news items in the crypto space, including the launch of EigenLayer, funding secured by Monad Labs, and a sponsorship deal between Polkadot and IndyCar racing star Conor Daly.
Inflation Heats Up: CPI Data Raises Concerns
The latest U.S. Consumer Price Index (CPI) report has painted a grim picture of the current economic landscape, with inflation remaining stubbornly high and raising concerns about further interest rate hikes.
CPI measures the average change in prices for everyday consumer goods and services. The most recent data shows that CPI rose by 0.4% last month, surpassing analysts' expectations. Year-over-year inflation now stands at 3.5%, also higher than anticipated.
This marks the 36th consecutive month with inflation above 3% and the second consecutive monthly increase. The data highlights that inflation is a persistent problem, and with analysts predicting that rate cuts may not happen until September, the outlook for the near term remains uncertain.
Market Turmoil: Cryptocurrencies Tumble
The CPI report has sparked a sell-off in cryptocurrencies, with many of the top 100 digital assets experiencing significant declines. The market has reacted negatively to the prospects of continued high inflation and the potential for further interest rate hikes.
CoinTracker Simplifies Crypto Tax Management
As the US tax deadline approaches on April 15th, CoinTracker offers a seamless solution for crypto tax preparation. With integrations with TurboTax, H&R Block, and support for over 23,000 DeFi smart contracts, CoinTracker streamlines the tax reporting process for cryptocurrency investors.
Strategies for Maximizing Crypto Returns
In a special episode of Milk Road Radio, legendary crypto investor Lark Davis shares insights on how to strategically allocate your crypto portfolio to maximize returns during this bull market. The discussion covers portfolio diversification, market analysis, and timely investment decisions.
SuiPlayOX1: Crypto's New Gaming Frontier
Crypto gaming is set to receive a boost with the introduction of SuiPlayOX1, a handheld gaming device with native Web3 capabilities. The device seamlessly integrates the Sui blockchain into its account system, enabling players to access a wide range of crypto games and even regular PC titles.
Bitcoin Holders Cash Out
Data from Glassnode indicates that long-term Bitcoin (BTC) holders are taking profits, contributing to the recent slowdown in BTC's price. This is a common trend that occurs periodically as early investors exit and new investors enter the market.
Blockchain and Crypto Highlights
- Honeyland announces "multi-millions" of $HXD airdrop for its popular mobile game.
- EigenLayer goes live on Ethereum mainnet, becoming the second-largest DeFi protocol by TVL.
- Monad Labs secures $225M in funding for its Layer-1 blockchain development.
- Survey reveals younger Americans have a strong affinity for crypto, with Gen Z more likely to own crypto than stocks.
- Polkadot signs a $2.1M sponsorship deal with IndyCar racing star Conor Daly.
Disclaimer
Please note that the information provided in this article is for educational purposes only and should not be considered financial advice. It is crucial to conduct thorough research and consult with financial professionals before making any investment decisions.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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- Post Office worker Diane Bath discovers 'goldmine' of coins stamped with King Charles' face
- Sep 23, 2024 at 12:25 am
- 62-year-old Diane Bath, who runs a Post Office in Cumbria, took delivery of coins stamped with King Charles’ face which turned out to be a goldmine.
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- Airdrop Mavericks: Blaze Your $KAVA Claiming Trail
- Sep 23, 2024 at 12:25 am
- Did you qualify for $KAVA Airdrop?
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- Floki (FLOKI) vs. Mpeppe (MPEPE): The Battle for Meme Coin Supremacy
- Sep 23, 2024 at 12:25 am
- As the cryptocurrency market experiences a surge in positive sentiment, many tokens are seeing renewed interest from investors. Floki (FLOKI), known for its strong community support and vibrant airdrop scene, has been one of the top performers in the meme coin space.
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- Donald Trump Unveils New Commemorative Coins as Part of His Merchandise Strategy
- Sep 23, 2024 at 12:20 am
- Donald Trump has formally unveiled a new line of commemorative coins, which has added to his extensive merchandise collection.
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- GoodEgg (GEGG): A Meme Coin with Real Utility Poised to Outperform Cardano (ADA) in Q4 2024 Rally
- Sep 23, 2024 at 12:20 am
- The cryptocurrency market has seen its fair share of massive rallies, and GoodEgg (GEGG) is quickly becoming one of the most talked-about coins of 2024.
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- Avalanche (AVAX) Tests Key Resistance Level, Will It Break Out?
- Sep 23, 2024 at 12:20 am
- Avalanche has experienced an impressive 25% surge since Wednesday, driven by the Federal Reserve's announcement of a 50 bps interest rate cut.
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- Mpeppe (MPEPE) Gaming: A New Era for Cryptocurrency, Luring Sui (SUI) Holders with AI and Mobile Gaming Innovation
- Sep 23, 2024 at 12:20 am
- As the cryptocurrency landscape shifts, Sui (SUI) holders are making strategic moves, transitioning into Mpeppe (MPEPE), an A.I-powered token set to revolutionize mobile gaming.
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- Veteran Trader Peter Brandt Publishes Outlook Examining Bitcoin's (BTC) Performance Relative to Gold
- Sep 23, 2024 at 12:20 am
- With decades of trading experience dating back to the 1970s, veteran trader Peter Brandt has recently published an outlook that examines Bitcoin's performance relative to gold
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- Donald Trump Launches Commemorative $100 Coins as Part of His Campaign Cash Hunt
- Sep 23, 2024 at 12:20 am
- The latest addition to the Trump entrepreneurial universe – one that four bankruptcies and a recent financial fraud conviction only begin to attest to – display a profile of Trump’s face and an image of the White House with the words “In God we Trust”.