This just reaffirms their current policy path and a very likely 25 bps rate cut next month.
This article was written by Justin Low at www.forexlive.com.
The project’s developers project daily revenues of $1
million in ETH, assuming a daily DEX trading volume of $200 million. With low
transaction fees and a streamlined user interface, DegenLayer seeks to provide
a gateway for mainstream users to engage in blockchain-based trading and
creation.
The project’s native token $DELAY was fair launched on
Uniswap last week, and is set to be listed on one of the top 15
CoinGecko-ranked exchanges next week, providing access to the token to their 10
million+ user community.
The project is powered by a 60+ person team behind notable
successes including PunksClub.io the CryptoPunk social network, Music.com
(developed with Pharrell Williams), and AAA games like The Witcher 3 and Dying
Light 2. The founding team previously achieved remarkable success with
SuperBid, driving token value from $0.01 to $12 in 2021.
„Our proven track record in both Web3 and gaming
demonstrates our ability to deliver compelling user experiences,“ says
Jacob Rylko, Co-Founder & CEO. „With DegenLayer, we’re leveraging our
existing reach of 3 million+ users through our Telegram mini-app, Firecoin, to
accelerate adoption.“
Key features and projections:
DegenLayer’s launch represents a significant milestone in
making memecoin trading accessible to mainstream users while leveraging
established Optimism infrastructure, the same that is used by Coinbase’s BASE
Layer 2.
About DegenLayer
DegenLayer is a trading terminal and Ethereum Layer 2
blockchain designed to make memecoin trading accessible to mainstream users.
Built on Optimism technology, the platform offers low-cost, high-speed
transactions and a zero setup interface for memecoin trading and creation.
Backed by a team with expertise in Web3, gaming, and entertainment, DegenLayer
aims to bring innovative blockchain solutions to the global market.
For more information about DegenLayer and its revolutionary
approach to memecoin trading, users can visit https://degenlayer.wtf.
This article was written by FL Contributors at www.forexlive.com.
Unified Balance: Spend your assets held across chains, in
1-click, without bridging
Arcana Wallet offers a range of features designed to
eliminate fragmentation and provide users with streamlined access to
decentralized finance. Through Arcana’s Chain Abstraction protocol, users can
now manage their aggregated USDC, USDT, and ETH balances across multiple
networks, all in a single wallet interface, and spend these funds instantly on
any supported chain without the need for bridging.
“At Arcana, our goal is to reimagine blockchain usability by
abstracting the complexities that come with multi-chain interactions. Arcana
Wallet delivers an intuitive and effortless experience that allows users to
engage with dApps across chains, without technical barriers” said Mayur
Relekar, Founder & CEO of Arcana Network.
Key Features of Arcana Wallet
Expanding dApp and Chain Compatibility
At its Beta launch, Arcana Wallet supports popular dApps,
including Uniswap, Aave, Polymarket, Hyperliquid, and Jumper, with
compatibility for additional applications and chains on the horizon. From
currently supporting Ethereum, Base, Polygon, Optimism, and Arbitrum, the
protocol aims to scale support to +20 EVM and non-EVM L1s, L2s, and appchains.
Allowing users to manage funds from any of the integrated networks, it will
mark a significant step toward a unified blockchain ecosystem.
Arcana’s Chain Abstraction SDK
To cater the developer community, Arcana Network is also
launching the Chain Abstraction SDK, enabling developers to implement Arcana’s
Chain Abstraction features in their own dApps. The SDK is intended to provide a
versatile toolkit for developers to build chainless user experiences and
simplify blockchain interactions for end users, helping to grow Arcana’s vision
of a unified Web3 UX.
Joining the Arcana Community
As the Arcana Wallet Beta moves through its Testnet phase,
feedback from users and partners will help shape the next generation of
blockchain interactions.
Users can download Arcana Wallet from the Chrome Store and
experience the power of Chain Abstraction.
About Arcana Network
Arcana Network (https://arcana.network/) is a leading Chain
Abstraction Protocol, powered by an Appchain, with the mission to transform the
Web3 UX.
Since its inception in 2021, Arcana Network has introduced
products that make web3 effortless, with more than 4 million wallets generated,
500,000 active users, and 6 million transactions to date. The upcoming Chain
Abstraction Protocol built on a Cosmos Appchain and powered by $XAR, is the
next evolution in simplifying Web3.
$XAR is the utility token that captures protocol fees,
secures the network, incentivises early adopters, and rewards resource
providers.
Arcana Network’s innovative technology is backed by
prominent investors, including Balaji S., Polygon founders, John Lilic,
Santiago Roel, and investment funds such as Woodstock, Fenbushi, Republic,
Polygon Ventures, DCG, LD Capital and others.
This article was written by FL Contributors at www.forexlive.com.
Last week, we got a
pullback in the S&P 500 as the higher than expected inflation readings and
a less dovish Powell weighed a bit on the market.
Despite the recent events
though, the market’s pricing remained largely unchanged at three rate cuts by
the end of 2025. This might be a signal that the market is now fine with the
current pricing, and we will need stronger reasons to price out the remaining
rate cuts.
The only bearish reason we
had for the stock market was the rise in Treasury yields. That’s generally
bearish only when the Fed is tightening policy though not when yields rise on positive
growth expectations.
Right now, the Fed’s
reaction function is that a strong economy would warrant an earlier pause in
the easing cycle and not a tightening. That should still be supportive for the
stock market in the bigger picture considering that Trump’s policies include
tax cuts and deregulation.
If the Fed’s reaction
function changes to a potential tightening, then that will likely trigger a big
correction in the stock market on expected economic slowdown.
For now, the pullbacks look
as something healthy and opportunities to buy the dips.
S&P 500
Technical Analysis – Daily Timeframe
On the daily chart, we can
see that the S&P 500 dropped below the 5918 support level but bounced back a couple of days later
as the dip-buyers took advantage. As long as the price stays above the 5918
level, we can expect the buyers to pile in to position for a rally into a new
all-time high. The sellers, on the other hand, will want to see the price falling
back below the support to target a test of the trendline.
S&P 500 Technical
Analysis – 4 hour Timeframe
On the 4 hour chart, we can
see more clearly the choppy price action around the 5918 level as the market
continues to wait for catalysts to push into either direction. There’s not much
else we can glean from this timeframe although the 5918 level will likely act
as a barometer for the sentiment.
S&P 500 Technical
Analysis – 1 hour Timeframe
On the 1 hour chart, we can
see that we have another minor support around the 5930 level. If we get a
pullback, the buyers will likely step in around those level with a defined risk
below them to position for a rally into a new all-time high. The sellers, on
the other hand, will look for a break lower to target a drop into the major trendline.
The red lines define the average daily range for today
Upcoming
Catalysts
Tomorrow, we
get the latest US Jobless Claims figures, while on Friday we conclude the week
with the US PMIs.
This article was written by Giuseppe Dellamotta at www.forexlive.com.
That’s a bit problematic for the ECB as pay growth is seen accelerating once again. That is unlikely to put off a December rate cut though as the wages data here hasn’t really translated to any significant reacceleration in consumer prices. So, the hope for policymakers is that wage pressures should fade going into next year. But we’ll see.
This article was written by Justin Low at www.forexlive.com.
The US Dollar continues to
consolidate despite the higher-than-expected inflation figures and a less
dovish Powell last week. The market’s pricing remained largely unchanged at
three rate cuts by the end of 2025.
This might be a signal that
the market is now fine with the current pricing, and we will need stronger
reasons to price out the remaining rate cuts. This could lead to some general
US Dollar weakness in the short term.
On the NZD side, the market
is pricing an 80% chance of a 50 bps cut at the upcoming meeting and a total of
142 bps of easing by the end of 2025. Inflation is back in the RBNZ’s target
range, so the central bank can focus on growth now especially with the unemployment
rate continuing to climb.
NZDUSD
Technical Analysis – Daily Timeframe
On the daily chart, we can
see that NZDUSD bounced from the key support
around the 0.5850 level and rallied into the major trendline
where we got some rejection as the sellers stepped back in. The buyers will
want to see the price breaking above the trendline to increase the bullish bets
into the 0.6050 resistance, while the sellers will look for a break below the
0.5850 support to target the 0.5773 low.
NZDUSD Technical
Analysis – 4 hour Timeframe
On the 4 hour chart, we can
see that the price rejected the swing low level at 0.5912 near the major
trendline as the sellers stepped in with a defined risk above the trendline to
target the break below the 0.5850 support. There’s not much else we can add here
as the buyers will need a break above the trendline to gain more conviction for
further upside.
NZDUSD Technical
Analysis – 1 hour Timeframe
On the 1 hour chart, we can
see that we have a minor support zone around the 0.5780 level. This is where we
can expect the buyers to step in with a defined risk below the support to
position for the break above the major trendline with a better risk to reward setup.
The sellers, on the other hand, will want to see the price breaking lower to increase
the bearish bets into new lows. The red lines define the average daily range for today.
Upcoming
Catalysts
Tomorrow,
we get the latest US Jobless Claims figures, while on Friday we conclude the
week with the US PMIs.
This article was written by Giuseppe Dellamotta at www.forexlive.com.
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This article was written by FL Contributors at www.forexlive.com.
After a bit of a pause in the last few days, the dollar is starting to flex its muscles once again. The greenback is sitting atop the major currencies bloc, now extending gains across the board on the day. USD/JPY already traded a little higher earlier but now other dollar pairs are catching up. EUR/USD is currently seen down by 0.4% to 1.0556:
The pair did break below its 100-hour moving average (red line) yesterday but it owed to risk-off flows, arguably driven by geopolitical headlines. That reversed course later in the day but now, we’re seeing steady flows to nudge the pair back below the key near-term level again.
Hold below that and sellers will reestablish a more bearish near-term bias in the pair. So, that’s a key technical development to be mindful of.
Elsewhere, USD/JPY is now up 0.7% to 155.80 while AUD/USD is down 0.4% to 0.6510 on the day. The dollar is seen firming here as bond yields are also pushing higher. 10-year Treasury yields are now up over 4 bps on the day to 4.42% on the session.
Are we starting to swing back to the post-election momentum after catching a breather?
This article was written by Justin Low at www.forexlive.com.
Last week, despite the higher-than-expected
inflation figures and a less dovish Powell, the US Dollar couldn’t extend the
gains. The market’s pricing remained largely unchanged at three rate cuts by
the end of 2025.
This might be a signal that
the market is now fine with the current pricing, and we will need stronger
reasons to price out the remaining rate cuts. This could open the door for some
pullbacks and general US Dollar weakness.
On the GBP side, tomorrow
we get the UK CPI report. Last time, the UK inflation data missed expectations by a big
margin with services inflation dropping to 4.9% from 5.6% in the prior month.
In the meantime, we’ve got
a soft labour market report and a lower than expected GDP print. The market is currently
pricing just a 22% probability of another 25 bps cut in December, but that will
likely increase if we were to get another miss in the CPI data.
GBPUSD
Technical Analysis – Daily Timeframe
On the daily chart, we can
see that GBPUSD is consolidating near the major upward trendline. This is where we can expect the
buyers to step in with a defined risk below the trendline to position for a
rally into new highs. The sellers, on the other hand, will want to see the
price breaking lower to increase the bearish bets into new lows.
GBPUSD Technical
Analysis – 4 hour Timeframe
On the 4 hour chart, we can
see that the pair looks to be bottoming out here and we might see a pullback
into the major downward trendline. The buyers will want to see the price
breaking above the 1.27 handle to gain more conviction, while the sellers will
likely lean on that level to target the break below the upward trendline.
GBPUSD Technical
Analysis – 1 hour Timeframe
On the 1 hour chart, we can
see that the price action has been mostly rangebound since last Thursday as
that’s when the bullish momentum in the US Dollar stalled. There’s not much we
can add here as the buyers will look for a break above the 1.27 handle, while
the sellers will target a break below the trendline. The red lines define the average daily range for today.
Upcoming
Catalysts
Tomorrow we have the UK CPI report. On Thursday, we get the latest US Jobless
Claims figures, while on Friday we conclude the week with the UK and US Flash
PMIs.
This article was written by Giuseppe Dellamotta at www.forexlive.com.
This article was written by Giuseppe Dellamotta at www.forexlive.com.