Top crypto tweets of the day – August 28th

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• Jerome Powell hints at higher rates, cautious move ahead

  Description It’s no secret that the future of America’s economic stability rests on the careful balancing act orchestrated by the Federal Reserve. And leading this charge is none other than Jerome Powell, the Fed Chair who’s become somewhat of an economic oracle in recent times. Powell’s latest announcement hints at an upward trajectory for interest rates, … Read more It’s no secret that the future of America’s economic stability rests on the careful balancing act orchestrated by the Federal Reserve. And leading this charge is none other than Jerome Powell, the Fed Chair who’s become somewhat of an economic oracle in recent times. Powell’s latest announcement hints at an upward trajectory for interest rates, and yet, it’s marinated with a cautious optimism, making us wonder: What’s really going on? The Good, The Bad, and The Inflation Here’s the thing: inflation remains a stubborn stain on the U.S. economic fabric. Despite the Fed’s aggressive 5.25 percentage point increase since March 2022, the beast of inflation hasn’t been fully tamed. Yes, it’s receded from an alarming 7% to a still-concerning 3.3%, but…

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• Lacoste launches exciting NFT rewards and co-creation feature for fashion enthusiasts

  TL;DR Breakdown Lacoste, the French fashion brand, expands its NFT ecosystem with rewards and co-creation features for its UNDW3 community. Genesis Pass holders can convert their NFTs into UNDW3 cards and access interactive features such as creative sessions, contests, and video games. Lacoste aims to create an inclusive digital realm, rewarding user activity with points and fostering horizontal relationships with customers. Description Lacoste, the renowned French fashion brand, has made a significant stride in embracing non-fungible tokens (NFTs) by expanding its NFT ecosystem. The brand has introduced a rewards and co-creation feature for its UNDW3 community following the successful release of its UNDW3 collection of profile picture (PFP) NFTs. With this expansion, Lacoste aims to provide its … Read more Lacoste, the renowned French fashion brand, has made a significant stride in embracing non-fungible tokens (NFTs) by expanding its NFT ecosystem. The brand has introduced a rewards and co-creation feature for its UNDW3 community following the successful release of its UNDW3 collection of profile picture (PFP) NFTs. With this expansion, Lacoste aims to provide its community with a more immersive…

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• SPACE ID price analysis: Bullish momentum resurfaces, propelling the ID price to $0.474

  TL;DR Breakdown SPACE ID price analysis shows bullish momentum. Resistance for ID is present at the $0.508 level. Support is still maintained at the $0.442 level. The recent SPACE ID price analysis demonstrates a renewed upward movement as bullish momentum gains strength over the last few hours. The bulls are actively working towards recovery and have successfully pushed the price to $0.474 after persistent efforts. In the preceding days, the cryptocurrency’s value experienced unfavorable conditions with a downward trend line persisting over the course of a week. Notably, the coin experienced its highest loss in value on May 24, 2023. However, today the coin found support and initiated a recovery phase. ID/USD 1-day price chart: $0.480 is the next key resistance level that ID is expected to face The 1-day SPACE ID price analysis confirms a resurgence in the market, with the price experiencing a notable increase. The bulls have made a successful recovery, pushing the price to reach the $0.474 mark. Over the past week, the coin’s value has faced a consistent decline, resulting in a loss of 3.10…

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• Binance.US market depth drops by 78% amid SEC lawsuit: what comes next?

  TL;DR Breakdown Binance.US market’s depth fell by 78%, raising questions about liquidity as market participants leave the platform. The market depth was $34 million on the day before the lawsuit, June 4, whereas on Monday it dropped to $7 million. Coinbase’s market share climbed over the past week from 46% to 64% for unspecified reasons, as Binance.US’s market share decreases. The US has seen a shocking 78% loss in market depth across the top 25 crypto assets after the Securities and Exchange Commission announced its lawsuit against Binance.US and CEO Changpeng Zhao on June 5. This court struggle has sent shockwaves across the crypto sector, leaving investors and traders wondering about the future of Binance.US and the consequences for the larger crypto market. Market makers abandon Binance.US, causing a drop in market depth Binance.US, the American arm of the popular crypto exchange Binance, has seen a dramatic drop in market depth due to a lawsuit brought by the US Securities and Exchange Commission (SEC).  The primary cause of the rapidly declining market depth can be the market makers’ hasty exit…

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• Blackpink makes entrance into Roblox’s metaverse

  TL;DR Breakdown South Korean pop group Blackpink has entered the metaverse through Roblox. The group sets its sight on an expansion in the metaverse. Description South Korean pop sensation Blackpink, known for making history as the first K-pop group to headline Coachella, is venturing into the virtual realm of Roblox. The quartet is set to grace the metaverse with a dedicated fan hub, marking a significant step in its digital presence. Named “Blackpink: The Palace,” this immersive experience promises to … Read more South Korean pop sensation Blackpink, known for making history as the first K-pop group to headline Coachella, is venturing into the virtual realm of Roblox. The quartet is set to grace the metaverse with a dedicated fan hub, marking a significant step in its digital presence. Named “Blackpink: The Palace,” this immersive experience promises to be a permanent addition to Roblox, allowing devoted fans (affectionately referred to as Blinks) to engage with the group’s music and recreate their iconic choreography within the virtual realm. The hub will serve as a hub for fans to connect, celebrate, and…

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