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The main events in the cryptocurrency market this week.
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The main events in the cryptocurrency market this week.

Jan 29, 2024

On January 29, new rules for advertising cryptocurrencies on Google came into force. These changes mean that advertising bans on Cryptocurrency Coin Trusts targeting the United States have been relaxed, allowing them to advertise their products and services, provided they comply with Google standards. Recall that in the spring of 2018, Google completely banned advertising related to cryptocurrencies due to the many cases of fraud in this area. But a month ago, the company already allowed advertising of cryptocurrency ETF.

Also, this week, on January 30-31, the US Federal Reserve will make a decision on the key interest rate. Given the volatility of US inflation data, the regulator is expected to be cautious and not lower the rate in order to maintain economic stability and keep investors away from high-risk assets such as cryptocurrency.

The next important point this week is the start of token unlocking on January 30th. Investors are always waiting for these moments with great interest. The unlocking of more than 33 million dYdX tokens (DYDX) will be particularly significant. A more detailed list of unlocks can be found in the material.

And finally, on January 31, the last day of the month, the Jupiter DeFi aggregator will airdrop 1 billion JUP tokens to the community. This is only the first round of four planned airdrops, during which the Jupiter team intends to distribute 40% of the total volume of JUP in 10 billion tokens among participants who will link their crypto wallet on the official Jupiter website.

In addition, this Wednesday, January 31, an update called Spiral is expected to be activated on the Ethereum Classic network. Miners, exchanges, and network nodes are advised to update the software to the latest version of core-geth to ensure a smooth transition.

This week, we are waiting for significant events that can affect the markets, including the unlocking of tokens, the Ethereum Classic hard fork and airdrops. The only event that can cause volatility is the Fed's interest rate decision, which should be watched carefully for traders and investors.

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