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The SPX index is down 1.02%, investors are now awaiting Federal Reserve Chair Jerome Powell’s congressional testimony for insights into future monetary policy. The broader cryptocurrency market is down, with Bitcoin and Ether dropping by 8.57% and 1.62%, respectively in the past 24 hours.
Today’s outperformer is LUNA2, which jumped 40.8% following vote to implement Warp Protocol on Osmosis for enhanced automation.
Terra LUNA 2.0 (LUNA2), founded in 2018, was launched by founder Do Kwon following the Terra UST stablecoin collapse, leading to the Terra blockchain forking into the original LUNA Classic (LUNC) and the new LUNA 2.0 blockchain. The proposal introduces Warp Protocol, a decentralized automation platform, to Osmosis, enabling developers to automate smart contract functions without modifying the contracts. Initially live on Terra, Neutron, and Injective, Warp's deployment on Osmosis aims to boost innovation, user engagement, and transaction volume by allowing the creation of new features and applications. Warp's first partnership with Quasar focuses on automating rewards management for decentralized asset management. Warp Protocol offers customizable and scalable automation options, including scheduled transactions based on specific conditions. The recent launch of Warp v2 enhances its efficiency and extends its capabilities.
Check Out the Latest Prices, Charts, and Data of LUNA2USDT Perp!
Fetch.ai, a crypto AI project on Cosmos, is launching a $100 million infrastructure initiative called Fetch Compute to expand developer tools and computing power while offering GPU credits to FET tokenholders. Starting March 7, stakers of the Fetch.ai native coin $FET will earn credits to use on Nvidia H200, H100, and A100 GPUs within the Fetch Compute network. This move aims to foster innovation by enabling complex AI model exploration. The announcement coincides with a surge in AI token value following Nvidia's impressive Q4 2024 earnings, highlighting increased demand for AI computing. Additionally, Fetch.ai has recently partnered with Deutsch Telecom, which will join as a corporate partner and validator for the Fetch blockchain.
Date | Report | Previous |
Tue, Mar. 06 | Fed Chair Powell Testimony | - |
Tue, Mar. 06 | JOLTs Job Openings JAN | 9.026M |
The Federal Reserve has maintained the benchmark interest rate at 5.50%, indicating it may have reached its peak for the current cycle, with reductions unlikely until inflation steadily approaches the 2% target. January FOMC minutes suggest a cautious approach to policy easing due to uncertainties, despite the fed funds rate being kept at a 23-year high of 5.25%-5.5%. Meanwhile, U.S. job openings in December 2023 rose to 9.026 million, the highest in three months, exceeding expectations and showing variations across sectors and regions.
Shiba Inu announced the launch of its Shib Name Service (SNS) and an upcoming airdrop for updated Shib names through a partnership with D3 Inc. This initiative introduces upgraded, future-proof digital identities for SNS holders, prioritizing them before wider public access. These tokens aim to simplify the Web3 experience by providing a unified, multi-chain identity, eliminating complex wallet addresses. The launch coincides with Shiba Inu's value surge, reaching 27-month highs and elevating its market capitalization close to Dogecoin's, making it the 10th largest cryptocurrency asset.