By Omkar Godbole (All times ET unless indicated otherwise)Cardano's ADA is trading higher, buoyed by Grayscale's recent spot ETF application, while bitcoin (BTC) remains rangebound in a lackluster crypto market as we gear up for Federal Reserve Chair Jerome Powell's testimony to Congress.See all newslettersPowell takes the stage on Capitol Hill later Tuesday for his semi-annual update on monetary policy. He'll start with the Senate and repeat his performance in the House of Representatives on Wednesday.The testimony is likely to do little to revive BTC's upswing. The consensus is that Powell will uphold his data-dependent approach, reiterating that the central bank isn't in a rush to cut interest rates anytime soon and is keen on observing more progress with inflation.Data shared by Bloomberg's Lisa Abramowicz shows that market-implied inflation rates for the next two to five years have soared to their highest levels since early 2023. Meanwhile, President Donald Trump's tariffs could underpin inflation. The CME's FedWatch tool currently shows traders anticipate just 50 basis points in cuts by the end of next year, significantly less than the Federal Open Market Committee (FOMC) outlined in its December forecasts.However, there's a glimmer of hope: If the Consumer Price Index (CPI) release on Wednesday comes in weaker than expected, it could create some upside volatility.In other news, Japanese mobile-game studio Gumi said it is planning to purchase bitcoin worth 1 billion yen ($6.6 million), following Tokyo-listed Metaplanet's lead. Metaplanet began buying BTC last year and its shares soared a staggering 4,800% in 12 months. Social media continues to buzz with debate over the imbalance in Ethereum's ecosystem, where layer-2 scaling products retain most of the generated revenue while contributing only a small percentage back to the foundational layer. Solana, meanwhile, continues to outshine Ethereum and other smart-contract blockchains in decentralized exchange trading volumes and revenue. In traditional markets, gold is taking bull breather while copper, often seen as proxy for global economic health, is trading lower, snapping a six-day winning streak. Stay alert!delistingStory (IP) mainnet launchDynamic TAO (DTAO) network upgradeQtum (QTUM) hard fork network upgradewill start reimbursing creditorsexclusive blockchain infrastructureLivestream linkhearingLivestream linkLivestream linkEXODHIVEHUTIRENRDDTCOINrecognizing HyperLenddeployment of Aave v3 on Ink,onboarding Arbitrum Onereduction in MORPHO rewardscontrol over the stDYDXhost an AI ScoutGate.io . Frankfurt Digital Finance (FDF) 2025NFT ParisConsensus Hong KongSui Connect: Hong KongETHDenver 2025RWA London Summit 2025HederaCon 2025Source: Farside InvestorsEther Has Underperformed, but Total Value Locked on Ethereum Is Rising: CitiHedge Funds Are Short Ether CME Futures Like Never Before. Is It Carry Trade or Outright Bearish Bets?Trump Sets 25% Tariffs on Steel, Aluminum, Widening Trade WarChinese Companies Don’t Know Where to Put Their Cash — and It’s Sparking a Record Rise in Dividend PayoutsUK Inflation Threat Receding, Says BoE Rate-Setter Who Voted for Big CutWazirX Offers 85% of Stolen User Funds as Rebalancing Ends
