Top Crypto Performers Today August 21 – Aave, Polygon, Fantom
Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...
With major cryptos in a somewhat upbeat mood in wake of US economic data revisions that showed the bumper labor market of 2023 wasn’t actually quite as strong as thought at the time, investors are turning to altcoin markets as they hunt for top crypto performers today that might be able to deliver quick gains.
Bitcoin (BTC) was about 1% higher on the day, per TradingView, in the mid-$59,000s on Wednesday.
Ethereum (ETH), Solana (SOL) and BNB (BNB), meanwhile, were roughly flat in the past 24 hours, per CoinMarketCap.
Data released on Wednesday showed the US economy added 818,000 fewer jobs than initially thought in the 12 months to March 2024.
BREAKING: The US Labor Department revises 12-month job growth down by a massive 818,000 jobs.
In other words, the US economy actually created 818,000 LESS jobs than initially reported.
Furthermore, the US economy LOST 192,000 jobs in Q3 2023 and added 344,000 jobs in Q4 2023,… pic.twitter.com/x0umcO1hRS
That should give the Fed more confidence that it can lower interest rates from their current multi-decade highs without over-stimulating the economy.
Fed Chair Jerome Powell is expected to signal an incoming series of interest rate cuts at a speech on Friday.
Wall Street is betting that Friday at Jackson Hole, Powell will confirm that interest-rate cuts are coming soon. Markets are virtually certain that a rate cut is coming in September. The question isn't “will they or won’t they cut?” The question is “how big will they cut? Many… pic.twitter.com/QVECuxEuuI
The rate cut narrative is seen as a
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