The latest price moves in crypto markets in context for August 25, 2023.
is clinging on to the $26,000 level as investors await the highly anticipated speech from the U.S. Federal Reserve Chair Jerome Powell at Jackson Hole later this morning. Other attendees include European Central Bank President Christine Lagarde who will speak later in the day.
Investors will watch the speech closely in search of signals about monetary policy outlook. Bank of America said in a research note that it doesn't expect strong policy signals to come from this year’s event. Both bitcoin and ether traded lower ahead of the event, with bitcoin down 1.5% and ether down 1% over the last 24 hours. Altcoins were mostly trading in the red, with Lido DAO’s LDO token taking the largest daily hit of a 6% loss.
"Over the past week, our team reached out to a small number of projects that issue digital assets listed on our platform as part of our ongoing risk management initiative," a spokesperson told CoinDesk by email."These projects have relatively lower market liquidity trading pairs and/or a smaller market capitalization, which potentially exposes users to risk, including potential market manipulation.
Named nCOP, the token is overcollateralized by reserve assets and allows people and businesses to transfer, pay, earn and save money using blockchain rails, the press release said. The new offering arrives as stablecoins, a roughly $124 billion subset of digital assets, are increasingly in demand in emerging regions with frail financial systems such as Latin America and Turkey.
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