This week, several key events are anticipated that could influence cryptocurrency market volatility. Over $351 million in crypto tokens are set to be unlocked, while vital macroeconomic data from the UK and the US will be released.
Macroeconomic Data
Deribit highlighted key upcoming economic events this week that could trigger market volatility.
On December 18, the next FOMC meeting will take place, and the US Fed will announce its decision about the interest rate cut. According to CME Group data, there is over a 97% probability for a 25 bps cut.
On the same day, inflation rate YoY data will be released in the UK.
On December 19, the BoE's interest rate decision in the UK and GDP QoQ data in the US will be announced. Both are crucial economic details that can influence markets.
On December 20, the Core PCE Price Index MoM will be revealed in the US, a key indicator of inflation.
Over $351 Million in Crypto Unlocks
Data from Tokenomist indicates that more than $351 million in crypto tokens will be unlocked over the next week. Key unlocks include:
- Arbitrum (ARB): unlock worth over $91 million (2.3% of market cap) - Metars Genesis (MRS): unlock worth over $54 million (10.4% of market cap) - Space ID (ID): unlock worth $39.6 million (18.1% of market cap) - ApeCoin (APE): unlock worth $24.18 million (over 2% of market cap) - QuantixAI (QAI): unlock worth over $22 million (over 5% of market cap) - Cardano (ADA): unlock worth nearly $20 million (0.1% of market cap) - Ethena (ENA): unlock worth over $15.4 million (0.4% of market cap)
Additionally, there are important project announcements set for release this week.
Crypto Project Announcements
On December 17, Stacks will launch sBTC, a new BTC-backed asset for DeFi, with an initial yield of 5% APR.
Cosmos is set to make three announcements on December 17, 18, and 19 regarding the role of Cosmos and ATOM, the future of Interchain Stack, and more.
The Sonic 1 mainnet launch is also expected next week, supporting up to 10,000 TPS with sub-second finality.
There are numerous key events this week that could significantly affect the cryptocurrency market. Investors and traders should be mindful of the macroeconomic data releases and scheduled crypto events that may create market volatility.
