Traders betting on Fed fund contracts are pricing in a 65% implied probability of rates cut to a 4.5-5% range. PLUS: Circle announces partnership with Polymarket
The latest price moves in bitcoin (BTC) and crypto markets in context for Sept. 17, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
The Official Monetary and Financial Institutions Forum’s digital assets report said that 92% of its respondents believe that financial markets will experience tokenization at some point.
Unlike industry leader Polymarket, Limitless Network isn’t focusing on the election. It’s carving out a niche with contracts that expire quickly and user-created markets.
With the first Fed rate cut looming, the markets are in selling mood. But history shows that the S&P tends to rally after monetary easing, which in turn should support risk assets like cryptocurrencies, says Scott Garliss.
Trump’s new DeFi project may fail, as many do, but its launch, coming in the midst of a presidential campaign, is further proof that crypto has entered the mainstream, says Graeme Moore, head of tokenization at the Polymesh Association.
