• Wealthcamp
  • Posts
  • ECB Slashes Rates Again Amidst Lowest Eurozone Inflation in 3 years - Will Crypto Boom & Fed Cuts Follow?

ECB Slashes Rates Again Amidst Lowest Eurozone Inflation in 3 years - Will Crypto Boom & Fed Cuts Follow?

Author

Austin Hodge
October 18, 2024 • Read Time: 12 minutes

The European Central Bank's bold move to slash interest rates by another quarter of a percentage point has certainly raised eyebrows across the financial world. With European inflation plummeting to its lowest level in three years, the ECB is on a mission to breathe life into the eurozone's languid economy. This third rate cut of the year sparks curiosity about how it might ripple through traditional markets and possibly ignite fresh interest in the rollercoaster world of cryptocurrency.

On the other side of the ocean, Goldman Sachs reports an expectation that the Federal Reserve will continue slashing interest rates through June 2025 until they reach a target of 3.25% - 3.50%, which would match the ECB’s current rate.

Will rate cuts continue? How will the crypto world respond?

Let's dive in!

  • ECB cuts rates by 25 basis points as inflation hits a three-year low, further cuts expected by December. — Read More

  • Goldman Sachs predicts consecutive 25-bps Fed rate cuts will continue through June 2025 as recession fears ease, boosting the outlook for cryptocurrencies. — Read More

  • Worldcoin rebrands to World, launches new layer-2 Ethereum network to tackle deepfakes & provide new identity verification & mobile app support features. — Read More

  • Falconx introduces a novel platform for crypto miners to streamline asset liquidation. — Read More

  • Alchemy Pay partners with Yellow Card to boost crypto use in Africa, inviting bold adoption strategies. — Read More

  • 26 million American voters prioritize crypto policies in presidential election, potentially swaying election outcomes. — Read More

  • Venmo collaborates with MoonPay, enabling 60 million users to buy crypto directly from their app balances. — Read More

  • DWF Labs' platform expands with options trading, enhancing Web3 market tools and risk strategies. — Read More

  • Stablecoin use in the U.S. declined in 2024, hindered by regulatory uncertainty, while global adoption increased. — Read More

Kraken Enters Wrapped Bitcoin Competition with kBTC

Kraken unveils kBTC, an ERC-20 token aiming to compete in the wrapped Bitcoin market alongside Coinbase and BitGo.

Robinhood Expands Into Bitcoin, Ether Futures and Index Options

Robinhood is launching Bitcoin and Ether futures, alongside traditional commodities and index options, to cater to advanced traders.

Elvis Digital Art Collection Set for Bitcoin Inscription

The 'Elvis Side $Btc' digital art collection will inscribe 1,935 generative images on the Bitcoin network through OrdinalsBot and Royalty.

Potential Explanation for Tesla Transfer of $760M in Bitcoin

Tesla moved $760 million of Bitcoin, sparking speculation but no sales detected, analysts propose fund restructuring.

Bitcoin Cash and Flockerz Shine Amid Market Dip

Bitcoin Cash rallies amid crypto slump, while Flockerz offers high staking rewards and community incentives.

Staked Ether Becomes Crypto Benchmark

ARK Invest highlights staked ether as a key financial metric, likening its yield to the crypto equivalent of the fed funds rate.

Ethereum on the Edge of a Bullish Breakout

Ethereum's open interest surge signals potential rally, analysts eye $6,000 target.

Worldcoin's Ethereum Network for Human Identity Verification

Worldcoin's rebranded World Chain aims to prioritize human users over bots with its new Ethereum layer-2 network.

VanEck Analyst Warns Ethereum Bulls on L2s

Ethereum's price could plummet if layer-2 networks continue to dominate, warns VanEck analyst, suggesting a drastic model update.

Bitcoin ETFs Attract $1.85 Billion as Ethereum ETFs Follow Suit

Bitcoin ETFs swell by $1.85B in inflows, while Ethereum ETFs bolster assets by $48.41M.

Solv Protocol Introduces Bitcoin Yield Staking on Solana

Solv launches SolvBTC.JUP for Bitcoin yields through Solana's DeFi, hedging market risks while maintaining exposure.

Tron Leads USDT Transfers With 170% Revenue Surge

Tron outpaces Ethereum in USDT transfers, boosting its revenue by 170% over the past year.

Polymarket Election Bets Surge Past $2 Billion

Polymarket's U.S. presidential election betting volume surpasses $2 billion, favoring Trump with a 62% victory chance.

Solcex Rises with New Features and Partnerships

Solcex soars on new features, partnerships, and future innovations.

Jupiter Unveils Ape Pro for Solana Meme Coin Trading

Jupiter launches Ape Pro on Solana with advanced trading tools and MEV protection, Apex Pro aims to simplify meme coin trading.

Polygon Eyes 82% Surge with Potential Breakout

POL is nearing a key breakout point, potentially rallying 82% from its current support level.

Nansen Unveils Solana Wallet and Token Tracking Tools

Nansen releases advanced tools for Solana on-chain analytics, giving investors a competitive edge.

RENDER Price Rebounds From Support Level

RENDER rebounds 4% from ascending support, indicating potential for bullish breakout or continued downtrend.

Mantra (OM) Faces 7% Decline After Hitting Peak

OM's bullish rally reverses 7% post all-time high, hinting at a corrective phase.

Treasury Dept Leverages AI for Major Fraud Wins

AI-powered fraud prevention by Treasury recovers $4B, enhancing oversight of $7 trillion in annual payments.

Researchers Exploit AI Robots' Vulnerabilities for Dangerous Consequences

Penn Engineering researchers reveal AI-powered robots' exploits, manipulating them into unsafe actions including traffic violations and bomb detonations.

Sotheby's to Auction AI Artist Botto's Creations

Sotheby's is auctioning six of Botto's AI-generated artworks with prices expected to reach up to $310,100, celebrating three years of the decentralized artist operated by a DAO.

Zig Network Set to Overtake Render, Optimism by 2025

Zig Network's presale aims to outperform Render and Optimism by leveraging strong developer backing and unique features.

AI Bot Terminal of Truths Becomes Crypto Phenomenon

AI bot 'Terminal of Truths' makes waves by endorsing Goatseus Maximus meme coin, pushing its market cap to $300 million.

Telegram Gaming Ecosystem Experiences Massive Growth in Q3 2024

Telegram gaming sees NFT transfers and user session lengths soar to new heights in Q3 2024, due to enhanced game designs and increased engagement.

Crypto Downturn Hits Majors as Memecoins Make Waves

Crypto majors slide 1-2% while memecoins and Web3 gaming hint at brighter prospects, Van Eck teases big Web3 gaming.

GambleFi Tokens Pegged for Massive Upside by Experienced Investor

Bitcoin veteran highlights Rollbit token as undervalued with significant growth potential.

Bullish Farm Merges Play and Blockchain Rewards

Bullish Farm combines traditional farming game mechanics with blockchain rewards, offering both entertainment and financial incentives.

US Voters Favor Pro-Crypto Candidates

Poll shows more than half of US voters prefer pro-crypto candidates, highlighting inflation concerns and crypto's bipartisan appeal.

Nigerian Currency: Most Competitive in 20 Years

World Bank labels Nigeria's currency as highly competitive after two decades.

Kenya's Crypto Operations Face Tax Overhaul

Kenya plans to revamp its crypto operations with a new tax system.

SEC Files Late Appeal in Ripple Case

SEC files appeal against Ripple after missing deadline, leaving XRP community uncertain.

Praxis' $525M Crypto City Tests Network State Model

Praxis invests $525M in a crypto-native city to test the network state model's viability.

Montenegro Edges Closer to Finalizing Do Kwon's Extradition

Montenegro plans to finalize Do Kwon's extradition by October 20, with his destination still under wraps.

DBS Bank Introduces Token Services for Institutions

DBS Bank launches blockchain treasury tokens to enhance institutional banking efficiency.

Crypto.com Takes SEC to Court Over Digital Asset Regulations

Crypto.com files a lawsuit against the SEC, challenging its regulatory authority over digital assets and pushing for cooperation with the CFTC.

CMB Wing Lung Bank Offers Virtual Asset ETFs in Hong Kong

CMB Wing Lung Bank launches virtual asset ETF trading services in Hong Kong, featuring products tied to major cryptocurrencies.