By Manoj Dharra
Markets Brace for Jackson Hole Outcome
Bitcoin (BTC) slipped below $113,000, extending a 9% drop for August from its recent peak of $124,000, as traders await Federal Reserve Chair Jerome Powell’s address at the Jackson Hole Symposium.
Risk appetite has weakened, with four consecutive sessions of outflows from US spot Bitcoin and Ether ETFs totaling $1.9 billion, Bloomberg data shows.
Ethereum (ETH) traded around $4,288, down 0.5 %, while the global crypto market cap eased 0.4% to $3.85 trillion.
OKB led gainers with an 18% jump, adding to a 131% weekly surge after a 65M token burn reduced supply to 21M. TON rose 1% after Verb Technology bought $713M tokens for treasury.
SOL, DOGE, ADA, LINK, XLM, SUI, AVX and ONDO are down by 1-3% in today’s trade.
Nasdaq-Listed Verb Technology Acquires $713 Million Tokens For TON Treasury. The Company targets over 5% of TON’s circulating supply. TON is up by 1% trading around $3.30.
Hyperliquid has become the star of decentralized finance by taking more than 80% of the perpetuals market and handling over $30 billion in trades every single day. HYPE is down by 1.37% trading around $41.80.
Ripple and SBI Holdings plan to introduce Ripple USD (RLUSD) in Japan to capitalize on the country’s evolving stablecoin market by 2026. XRP is down by 1% trading around $2.86.
Outlook
Crypto markets eye Powell’s Jackson Hole speech as a key trigger. Consensus leans hawkish after mixed economic data, though a dovish surprise could fuel a rally.
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