XLM Suffers 3% Decline as Intensified Selling Pressure Grips Markets
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Digital asset confronts persistent bearish sentiment whilst volume surges suggest potential capitulation amidst broader cryptocurrency market turbulence.
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Digital asset confronts persistent bearish sentiment whilst volume surges suggest potential capitulation amidst broader cryptocurrency market turbulence.
The Federal Reserve's July meeting minutes revealed participants' concerns about the vulnerabilities in the U.S. Treasury market, citing issues such as the decline in dealer intermediation capacity, the impact of hedge funds, and insufficient market depth. Additionally, participants discussed banks' vulnerabilities to rising long-term yields, the maturity mismatch risks in foreign exchange swaps, and the potential impacts of stablecoins on the financial system and monetary policy. They emphasized the need to closely monitor their development and changes in demand for related assets.
[Federal Reserve Meeting Minutes: Significant Uncertainty Remains Regarding Tariff Effects] BlockBeats News, August 21 – The Federal Reserve released the minutes of its July meeting, which mentioned that regarding the inflation outlook, participants generally expected inflation to rise in the short term. They believed that the timing, magnitude, and persistence of the impact of this year’s tariff increases remain highly uncertain. In terms of timing, many participants pointed out that the full effects of higher tariffs might take some time to be reflected in the prices of consumer goods and services. They cited several factors that could contribute to this lag, including inventory stockpiling in response to tariff hikes, the slow pass-through of rising input costs to final goods and services prices, the gradual updating of contract prices, the maintenance of business-customer relationships, issues related to tariff collection, and ongoing trade negotiations. (Jin10)
[Federal Reserve Meeting Minutes: Waiting for the full clarity of tariffs' impact on inflation before adjusting monetary policy is neither feasible nor appropriate] BlockBeats News, August 21, Federal Reserve meeting minutes: Some participants stated that waiting for the full clarity of tariffs' impact on inflation before adjusting monetary policy is neither feasible nor appropriate. Most officials believe that the Federal Reserve's policy is already in a favorable position. Participants also noted that it will take time to better understand the magnitude and persistence of the impact of high tariffs on inflation. (Jin10)
[Mingcheng Group Announces Signing of Bitcoin Purchase Agreement to Acquire 4,250 Bitcoins] According to Jinse Finance, Mingcheng Group has announced that it has signed a Bitcoin purchase agreement to acquire 4,250 Bitcoins.
[Senator Lummis Pushes Crypto Market Structure Bill, Aiming for Legislation by Thanksgiving] U.S. Republican Senator Cynthia Lummis from Wyoming plans to advance the cryptocurrency market structure bill through the legislative process by the end of 2025 and submit it for the President's signature. The bill is based on the 'Digital Asset Market Structure Clarity Act' passed by the House of Representatives. Lummis hopes to retain as much of the House's amendments on stablecoins and other provisions as possible to reflect the spirit of collaboration between the two chambers. Reportedly, the bill previously received support from 78 Democratic representatives in the House. Lummis stated that the goal is to complete the legislative work by Thanksgiving.