The cryptocurrency market tried to this week. Currently, BTC stabilized around 61000.00 ( 1.6%), ETH is at 2690.00 ( 0.8%), USDT is trading at 1.0002 (–0.01%), BNB is around 580.00 ( 7.0%), and SOL is 145.00 (–1.1%). The total market capitalization increased to 2.16T dollars by the end of the week, and the share of BTC on it has adjusted to 55.6%.

The sector remains in a state of uncertainty due to the influence of several opposing factors. Investors are taking a wait-and-see attitude ahead of the key releases that could determine the Fed’s further actions around ​​monetary policy, which is reflected in investments in ETFs. In the first four sessions of the current week, the inflow of funds into the Bitcoin-ETF amounted to only 254.4M dollars, while the outflow from the Ethereum-ETF was 38.8B dollars. Market participants expect that today, at the Economic Symposium in Jackson Hole, the head of the American regulator, Jerome Powell, will confirm the likelihood of a September interest rate cut amid a cooling labor market and a stable slowdown in inflation. Still, even in this case, digital assets may not receive significant support since the American economy will continue to grow, providing investment attractiveness to the dollar. Reports of payments to clients of the bankrupt Mt.Gox exchange help curb the upward dynamics of cryptocurrencies. During the week, the company’s management transferred another 13.265K BTC to several addresses for about 784.0M dollars, which will likely be sold soon.

Among the news of the week, it is worth highlighting the announcement by the founder of the Cardano blockchain platform, Charles Hoskinson, of a new network update called Chang, due on August 27, which will affect the ecosystem management system. The fork will let ADA token holders vote and choose the direction of community development, as well as the most promising projects for investment. Meanwhile, the head of the Binance exchange, Richard Teng, in an interview with CoinDesk, said that the company does not plan to go public soon since it is already in a stable financial position. According to him, the crypto platform began to profit in the fifth month of operation. Note that listings are common for cryptocurrency companies. Earlier, Ripple CEO Brad Garlinghouse spoke about the possibility of an IPO, specifying that it would only be possible after the end of a multi-year lawsuit between the company and the US Securities and Exchange Commission (SEC). The regulator continues to exert unprecedented pressure on participants in the technology sector. In this regard, the latest comments from Bloomberg experts are interesting, who believe that after the approval of exchange-traded funds based on Bitcoin and Ethereum, officials are unlikely to allow the launch of other similar projects. In particular, the application for a fund based on Solana, which was previously submitted by VanEck, may not be approved if Democratic Party candidate Kamala Harris wins the US presidential election, keeping the previous leadership of the SEC.

Next week, most digital assets may resume growth or consolidate.