December 1 BTCUSD BingX Chart Analysis and Today's Headline
BingX’s Bitcoin Chart
According to CNBC, Federal Reserve Chairman Jerome Powell confirmed Wednesday that smaller interest rate increases are likely ahead and could start in December. Bitcoin is up 0.27% over the last 24 hours and rose to an intraday high of $17,245.88. The largest cryptocurrency rose above $17,000 price level after Jerome Powell’s comment on the interest rate. The U.S. Labor Department will publish nonfarm payrolls report on Dec. 2 and the U.S. Consumer Price Index data on Dec. 13. If those economic data are better-than-expected, the Fed is likely to change their hawkish interest rate policy during the next FOMC meeting. And this could be the first pivot moment for the crypto winter.
Today’s Cryptocurrency Headline
TON Foundation Launches $126 million Rescue Fund
The TON Foundation has set up a “rescue fund,” committing $126 million to support projects experiencing liquidity problems due to the FTX fallout. Unlike Binance’s $2 billion recovery fund, the goal of the TON Rescue Fund is not to buy distressed assets, but to attract projects to migrate to TON. The fund is backed by DWF Labs, Darley Technologies, Hexa Capital and TONcoin Fund Ecosystem Partners. The TON blockchain was developed by messaging app Telegram but was dropped after being sued by the U.S. Securities and Exchange Commission (SEC) in August 2020. The developers of the ecosystem then formed the TON Foundation to keep the project alive.
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According to CNBC, Federal Reserve Chairman Jerome Powell confirmed Wednesday that smaller interest rate increases are likely ahead and could start in December. Bitcoin is up 0.27% over the last 24 hours and rose to an intraday high of $17,245.88. The largest cryptocurrency rose above $17,000 price level after Jerome Powell’s comment on the interest rate. The U.S. Labor Department will publish nonfarm payrolls report on Dec. 2 and the U.S. Consumer Price Index data on Dec. 13. If those economic data are better-than-expected, the Fed is likely to change their hawkish interest rate policy during the next FOMC meeting. And this could be the first pivot moment for the crypto winter.
Today’s Cryptocurrency Headline
TON Foundation Launches $126 million Rescue Fund
The TON Foundation has set up a “rescue fund,” committing $126 million to support projects experiencing liquidity problems due to the FTX fallout. Unlike Binance’s $2 billion recovery fund, the goal of the TON Rescue Fund is not to buy distressed assets, but to attract projects to migrate to TON. The fund is backed by DWF Labs, Darley Technologies, Hexa Capital and TONcoin Fund Ecosystem Partners. The TON blockchain was developed by messaging app Telegram but was dropped after being sued by the U.S. Securities and Exchange Commission (SEC) in August 2020. The developers of the ecosystem then formed the TON Foundation to keep the project alive.
Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
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