Buy Crypto
Markets
Contract
Spot
Earn
Web3 new
Learn
Blogs > Crypto in a Minute > Earnings & GDP Are Out >

Earnings & GDP Are Out

Author: Jeffrey Craig Date: 2022-07-29 04:01:45

  • Facebook
  • Twitter
  • LinkedIn
  • Telegram
  • Discord
  • Youtube
Subscribe Phemex

Get The Latest News And Updates From Phemex!

giftRegister to get $180 Welcome Bonus!
Email
Password
Invitation code (Optional)

july-29-daily-update

Main Takeaway: Ending The Work Week Strong

Most US Big Tech earnings have all been reported, with Apple, Google, Microsoft, and Amazon reporting strong numbers, but generally down y-o-y. However, the stocks are up, along with the US equities and cryptos. Moreover, the US reported a -0.9% GDP Q2 decline, which was less severe than original predictions, but the conversations about whether we’re in a recession or if one’s on the horizon are getting more intense. This is what crypto should be paying attention to, along with signals from the Fed regarding its seriousness in fighting inflation. The next meeting and announcement will be in September, so the month of August will not have a big event that can determine more economic tightening, which could be bullish for crypto.

Key Stories: US Stablecoin Bill Delayed Until After August Recess

US Congress has said it’ll be delaying further movements on a potential US stablecoin bill until it returns from August recess. Of course, the US Congress is busy with many different forms of legislation, such as on semiconductor chips, build back better, inflation reduction, and climate change. On top of that, it’s election season, so Congress may end up delaying this until after the November elections.

Investor Insight: Is The Merge Priced In?

Vitalik Buterin says no, The Merge is not priced in – in market terms and psychological and narrative. Buterin is probably right on this, the market has not priced in a potential breakthrough upgrade and network change that Ethereum has planned for Q4, which is likely to be the biggest crypto event in 2022. The Merge is largely considered as bullish for Ethereum, so the Eth Maxis are accumulating undoubtedly.

Today’s Top Gainers

The crypto markets are up over 3% with the top gainers being Livepeer (LPT/USDT), Volt Inu (VOLT(1K)/USDT), Optimism (OP/USDT), Bounce (AUCTION/USDT), and Ethereum Classic (ETC/USDT).


For any inquiries contact us at support@phemex.zendesk.com
Follow our official Twitter | Join our community on Telegram
Trade crypto on the go: Download for iOS | Download for Android
Phemex | Break Through, Break Free
  • Facebook
  • Twitter
  • LinkedIn
  • Telegram
  • Discord
  • Youtube
Subscribe Phemex

Get The Latest News And Updates From Phemex!

giftRegister to get $180 Welcome Bonus!
Email
Password
Invitation code (Optional)
start trading start trading start trading

Register On Phemex Now To Begin Trading

Register On Phemex

More Articles

Subscribe Phemex

Get The Latest News And Updates From Phemex!

Get The Latest News & Updates!

Bonus

Pulse Arrives on TON & Create your own group to get 2000 $PULSE