- Prior to the September Fed meeting, US CPI and PPI data will be important market drivers.
- Two significant blockchain advancements this week are the MultiversX Supernova update and Solana Transaction V1.
- The FB block reward will drop from 25 FB to 12.5 FB as a result of Fractal Bitcoin’s initial halving.
- Short-term market activity may be impacted by token unlocks for initiatives like MOVE, Linea, Aptos, and Pump.fun.
The crypto market is starting a week in September as traders are getting ready for US inflation data, an important decision from the European Central Bank and several big blockchain projects.
BTC is trading at about $79,677. ETH is close to $2,498. S SOL is trading near $104.96, based on the CoinMarketCap data. EGLD is around $4.40, which keeps the network in focus before its Supernova upgrade.
US CPI & ECB Rate Decision
US stock and bond markets are closed on Monday, September 7, for Labor Day, but crypto markets remain open. The key macro events arrive later in the week. The August PPI will be released by the US Bureau of Labor Statistics on September 10 at 8:30 a.m. ET, followed by the August CPI on September 11 at the same time.
Source: bls.gov
The CPI report will be closely watched because it arrives just days before the Federal Reserve’s September 15–16 policy meeting. A temperature that is higher than expected for inflation could put pressure on risk assets, while lower inflation could increase expectations for a helpful policy outlook. The ECB is also set to make an announcement about its monetary policy decision on September 10 then there will be a press conference.
Solana Transaction V1 Goes Live
Solana is scheduled to activate Transaction V1 on September 9. The upgrade increases the maximum serialized transaction size from 1,232 bytes to 4,096 bytes, creating more room for applications involving large multisignatures, ZK proofs and other advanced on-chain activity.
MultiversX Supernova Upgrade
MultiversX is preparing to activate Supernova on mainnet on September 10. The upgrade targets a major performance improvement, reducing block time from six seconds to around 600 milliseconds and improving finality and cross-shard settlement.
Source: supernova.multiversx.com
Token Unlocks & Bitcoin Halving
The week also features scheduled token unlocks involving assets such as STABLE, MOVE, BABY, DappOS, Linea, Aptos and Pump. fun. Fractal Bitcoin is also approaching its first halving, which will reduce the base block reward from 25 FB to 12.5 FB once the relevant block height is reached.
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