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The SPX index is down 0.11%, as the market waits for the upcoming Fed decision. The upcoming CPI and PPI reports are critical for assessing the likelihood of interest rate adjustments before the Fed's March meeting. The broader cryptocurrency market is up, with Bitcoin and Ether rising by 3.58% and 3.18%, respectively in the past 24 hours.
Today’s outperformer is CELO, which jumped 44.8% after Tether expands ecosystem with upcoming USDT launch on Celo Blockchain.
Celo (CELO), launched on April 2020, is a cryptocurrency platform focused on mobile payments and financial inclusion, enabling transactions via phone numbers. It supports dapps for social causes and operates with two tokens: CELO for governance and cUSD as a stablecoin. Tether will soon launch its USDT stablecoin on the Celo blockchain, enhancing its presence across multiple networks. Celo, transitioning to an Ethereum Layer 2 compatible network, focuses on mobile payments. The integration aims to expand payment and lending applications on Celo, with USDT possibly serving as a gas currency. This move adds to Tether's broad blockchain ecosystem, amidst its growing circulating supply surpassing 102 billion.
Nexon Group is partnering with Ava Labs to launch a Web3 version of MapleStory, called MapleStory Universe, on the Avalanche network by the end of this year. The game aims to offer a Web3-enabled experience, leveraging Avalanche's security and its history of supporting Web3 games. MapleStory Universe will operate on its own Avalanche Subnet, designed specifically for its gaming ecosystem. The updated game, MapleStory N, will allow players to create their own in-game worlds and earn Web3 rewards, including non-fungible tokens (NFTs). MapleStory, a pioneer of the free-to-play model since 2003, has amassed over 180 million users globally.
Date | Report | Previous |
Tue, Mar. 12 | Core Inflation Rate MoM FEB | 0.4% |
Tue, Mar. 12 | Core Inflation Rate YoY FEB | 3.9% |
Tue, Mar. 12 | Inflation Rate MoM FEB | 0.3% |
Tue, Mar. 12 | Inflation Rate YoY FEB | 3.1% |
In January 2024, US core consumer prices, excluding food and energy, rose by 0.4%, surpassing expectations and marking the largest increase since April 2023. This rise, attributed mainly to higher shelter and transportation service costs, challenges the disinflation trend and supports the Federal Open Market Committee's (FOMC) hawkish stance. Despite this, the annual core inflation rate remained at a 2.5-year low of 3.9%. Overall consumer prices also increased by 0.3%, driven by shelter and food, while energy prices fell. February 2024's inflation rate is projected to stabilize at 3.1%, with a slight expected decrease in core inflation to 3.7%, the lowest since April 2021.
BlockGames is replicating Portal's successful airdrop farming strategy by launching a campaign for its BLOCK token, targeting the crypto gaming community. The campaign encourages users to promote BlockGames on Twitter by linking their accounts through the mobile app and tweeting with specific tags for points, which will later convert to tokens. This method has already generated significant engagement, reminiscent of Portal's campaign that led to a substantial market cap upon its token launch. The outcome for BlockGames remains to be seen as the crypto community watches closely.