The cryptocurrency market is gearing up for an eventful week with several key developments expected to impact prices and sentiment. Here are some that traders and investors should keep on their radar:
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Bitcoin (BTC): FOMC Minutes to be Released on August 21
The minutes of the Federal Open Market Committee (FOMC) to be released on August 21 could have a broad impact on financial markets, including Bitcoin.
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Babylon Launch: New Bitcoin Staking Protocol Goes Live
Babylon, a new protocol for staking Bitcoin, is launching on mainnet next week. The platform aims to provide users with a way to securely stake their BTC and add a new dimension to decentralized finance (DeFi) for Bitcoin holders.
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Arbitrum (ARB): Liquid Staking on the Horizon
A proposal recently accepted within the Arbitrum community will soon introduce stARB, a liquid staked version of the ARB token. This initiative is expected to increase staking participation while increasing liquidity within the Arbitrum ecosystem.
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EigenLayer (EIGEN): Permissionless Token Support
EigenLayer is rolling out permissionless token support on its mainnet next week. This feature will allow users to repurchase any asset, opening up new possibilities for decentralized staking strategies across the platform.
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Avalanche (AVAX): Major Token Unlocks on August 20
A major unlock event is planned for Avalanche on August 20, when $200 million worth of AVAX will be made available. A large portion of these tokens are reserved for the project team and have the potential to influence supply dynamics and market sentiment.
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Nakamoto Games (NAKA): New Staking Model Coming
Nakamoto Games is preparing to introduce a revamped staking model for its NAKA token.
*This is not investment advice.