Inflation

Bitcoin (BTC) continued its current correction with a dip below $59,000 on Thursday. The alpha cryptocurrency may have been affected by the news out of the Consumer Price Index Report that inflation had increased 0.2% in September, which was a more than expected rise.   Inflation increase and SEC action weigh on $BTC The possible reemergence of inflation might become a worry once again for the U.S. Federal Reserve. With Thursday’s publication of the inflation figures for September, it was…

According to the latest Binance Research report, the Ethereum (ETH) issuance rate continued to rise in September 2024, raising concerns about the digital asset’s “ultrasound money” claim. Ethereum Issuance Rate Continues To Surge In its October 2024 Monthly Market Insights report, Binance Research highlighted that the ETH issuance rate continued its ascent in September, moving away from its previously deflationary status. The second largest digital asset by reported market cap had a 30-day annualized inflation rate of approximately 0.74%, a…

The higher-than-anticipated US core Consumer Price Index (CPI) reading was followed by a decline in Bitcoin (BTC) price as it tumbled almost 1.5% to $56,168 at press time. US Headline CPI Matches Forecast, Core CPI Exceeds It US headline CPI, the metric typically used to assess the inflation rate in the country, came in according to expectations at 0.2% month-over-month (MoM), and 2.5% year-over-year (YoY) for August 2024. However, core CPI (MoM) printed 0.3%, slightly higher than the 0.2% forecasted…

Recent market dynamics have again brought Ethereum’s supply into the spotlight and reiterated concerns about its inflationary trend. Earlier this year, Ethereum reached a significant milestone in its circulating supply, surpassing 120 million ETH and the number continues to grow. Unlike other prominent cryptocurrencies such as Bitcoin and Cardano, which have fixed supply caps, Ethereum was designed with an unlimited supply of tokens. This fundamental difference makes Ethereum an inherently inflationary asset, one that has a continuously increasing supply. On-chain…

While Ethereum hasn’t been quite consistent with its bullish trajectory in the past weeks, its circulating supply has done the opposite. According to data from Ultrasoundmoney, ETH’s circulating supply has skyrocketed to over 120.72 million ETH as of today. Although this increase in supply is not straightforwardly negative for ETH, it still marks a notable shift in the network’s dynamics, fuelled largely by adopting Ethereum’s proof-of-stake (PoS) model. Supply Increase, How And Why? The surge in Ethereum’s total supply to…

Cardano (ADA) finds itself in a challenging position, grappling with a 14% price decline even as it benefits from low inflation and notable network upgrades. The broader crypto market weakness has hindered ADA’s ability to maintain its upward momentum, with technical indicators showing bearish signals. As Cardano struggles, a new meme coin is emerging and capturing investor interest. Bearish Technical Indicators Signal Further Decline Cardano (ADA) is currently in a consolidation period, with price movement turning negative following the breakdown…

Bitcoin (BTC) price holds above $61,000 as US CPI inflation data falls to 2.9% in July, lower than expectations. CPI data measures price increases in consumer goods and services. After running stale for most of 2023, the influence of US macroeconomic data on Bitcoin and crypto markets is resuming. CPI At 2.9%, Falls Lower Than Expectations The US Bureau of Labor Statistics (BLS) released July’s Consumer Price Index (CPI) inflation data, which came in at 2.9%. This is also lower than…

Cardano (ADA) has recently gained attention for its exceptionally low inflation rate compared to other major cryptocurrencies. With an inflation rate of just 2.5% over the past year, Cardano stands out for its economic stability and sustainable growth. This low inflation rate is significantly lower than that of competitors like Avalanche (AVAX) and Polkadot (DOT), as well as Ethereum (ETH). Such economic stability contributes to Cardano's strong market position and highlights its potential as a reliable asset in the crypto…

The post U.S. Inflation Reaccelerates: Core PPI Hits Highest Level Since 2022, What It Meant For Crypto  appeared first on Coinpedia Fintech News Recent data indicates that U.S. inflation might be on the rise again. New figures reveal that the Producer Price Index (PPI) has increased, reaching levels not seen in the past 15 years. As inflation starts to rise again, it could impact various financial markets, including cryptocurrencies. Core PPI Inflation Rises Sharply In June, core Producer Price Index…