Category: News

The complete 2024 Fed meeting schedule with all upcoming dates

The Federal Reserve System (Fed) meeting schedule, i.e., the central bank of the United States, has eight annual conferences. These meetings are the equivalent of the meetings of our ECB (here, it is calendar 2024), where monetary policy decisions are made. They are widely followed events because they can influence the course of the financial markets and, in recent times, have become real turning points for the future of the global economy.

Fed meetings: what is decided and by whom 

Before discovering the 2024 Fed meetings calendar, let us see how these appointments work. 

The FOMC (Federal Open Market Committee) is the Fed’s operating body and mouthpiece and chairs the meetings. This is comprised of 12 members, including US central bankers and the Fed Chairman. 

The FOMC assesses the financial conditions and monetary policy actions needed to achieve US economic objectives. The interest rate decision was the most decisive factor in this high-inflation period. 

At each Fed meeting on the calendar, a summary of economic projections and the Dot Plot, a chart showing each Fed member’s anonymous forecast of the Fed funds rate position for the past year, the future and the long term, are presented. These appointments are highlighted in the calendar with an asterisk. 

Here is an example of a Dot Plot chart published at the December 2022 Fed meeting. 

DOT PLOT: The Fed's latest decision to raise rates by 50 basis points follows four consecutive 75 basis-point hikes.

The vote to raise rates was unanimous https://t.co/GWNcGQqQs1 pic.twitter.com/x7C9ZoDP9j

— Bloomberg Markets (@markets) December 14, 2022

Fed meetings scheduled for 2024 

These FOMC meetings are held eight times a year, last two days, followed by a press conference by Chairman Jerome Powell. Here is the Fed calendar of all meetings for 2024.

• 30-31 January 2024 – Unchanged Rates 
• 19-20 March 2024 * – Forecast
• 30 April – 1 May 2024
• 11-12 June 2024 *
• 30-31 July 2024  
• 17-18 September 2024 *
• 6-7 November 2024
• 17-18 December 2024 *

Fed meetings scheduled for 2023

The Fed in 2023 met on these dates: 

• 31 January – 1 February 2023
• 21-22 March 2023 *
• 2-3 May 2023
• 13-14 June 2023 *
• 25-26 July 2023
• 19-20 September 2023 *
• 31 November-1 December 2023
• 12-13 December 2023 *

Fed meetings scheduled for 2022

The Fed in 2022 met on these dates: 

• *25-26 January 2022
• 15-16 March 2022*.
• 3-4 May 2022
• 14-15 June 2022*.
• 26-27 July 2022
• 20-21 September 2022*
• 1-2 November
• 13-14 December 2022*

Financial players and analysts await the Fed meetings with great interest. The Institute’s decisions play a major role in US monetary policy, but not only that. On several occasions, we have also seen an impact on other markets, such as the cryptocurrency market. That is why keeping an eye on the Fed’s calendar of upcoming meetings can be helpful.

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As the curtains fell on the Fed meeting in March 2024, a wave of anticipation gave way to a reality check: the federal interest rates remain unchanged. The current target range is between 5.25% and 5.50%.

The decision, aligned with the expectations set by the Fed’s forecasts, points to a cautious approach despite the clamour for easing monetary policies. But what does this mean for the economy, consumers, and investors? This article delves into the nuances of the Fed’s latest policy stance, dissecting the layers beyond the headline decision.

Market forecast

As we stepped into 2024, the investment landscape was abuzz with optimism. Market participants harboured hopes for a series of rate cuts, envisioning as many as six or seven adjustments downward.

However, the tides of economic reality have tempered these expectations. Recent developments and data analyses have led to a revised outlook, with consensus building around three rate cuts anticipated to commence in June. This adjustment reflects a cautious optimism, recognising the persistent challenges of quashing inflation—a nemesis that has proven more resilient than anticipated.

Inflationary trends and economic indicators

Inflation trends remain a critical determinant of the Fed’s policy trajectory. Despite a decline from peak levels, inflation rates, as per the latest Consumer Price Index and Personal Consumption Expenditures Price Index, still overshoot the Fed’s 2% target. Notably, recent monthly data hint at an inflationary uptick, a factor likely weighing heavily on the Fed’s decision-making process. The upcoming PCE index update will be particularly pivotal, offering fresh insights after the March meeting.

Inflationary trends remain a critical determinant of the Fed’s policy trajectory. Despite declining from peak levels, inflation rates increased in January and February, as indicated by the latest Consumer Price Index and Personal Consumption Expenditures Price Index, and are still above the Fed’s 2% target.

Employment data and their implications

The job market’s resilience is a testament to the economy’s underlying strength. However, this robustness also presents a conundrum for the Fed, potentially fueling wage-induced inflation. The recent uptick in unemployment and solid job creation paint a complex picture for policymakers, who must balance curbing inflation and fostering employment.

“A strong increase in hiring per se would not be a reason to hold off on rate cuts,” Fed Chairman Jerome Powell said, adding that the labour market per se is not a cause for concern about inflation.

Details of the March Fed meeting

At the Fed’s March 2024 meeting, members of Congress estimated an overall rate cut of three-quarters of a percentage point by the end of 2024, marking the first decrease since the initial COVID-19 outbreak in March 2020.

The current federal funds rate represents the highest peak in 23 years. This rate determines reciprocal overnight lending costs between banks, affecting different types of consumer debt.

The anticipations concerning the three possible cuts emerge from the Fed’s so-called ‘dot plot’, a set of anonymous forecasts rigorously analysed by the nineteen members of the FOMC. This plot offers no details about the timing of the expected actions.

Federal Reserve Chairman Jerome Powell confirmed that the institution has not yet specified a timeline for the cuts but remains hopeful that they will come to fruition, provided the favourable economic data. After the meeting, the CME Group’s FedWatch index showed that the futures markets attributed a 75% chance to the first rate cut occurring as early as the 11-12 June session.

The committee anticipates three more cuts in 2026, followed by two more thereafter until the federal funds rate stabilises around 2.6 per cent, which officials believe is the neutral, non-incentive or restrictive rate.

These forecasts are part of the Fed’s Summary of Economic Projections, including projections for GDP, inflation and unemployment. The distribution of the data points revealed a more aggressive bias than in December, but without significantly altering the estimates for the current year.

Impact on markets

In response to the Federal Reserve’s decision to hold rates steady, Seema Shah, chief global strategist at Principal Asset Management, said, ‘Powell may have shown his cards: He needs a good reason not to cut rates rather than a reason to cut rates. Markets perhaps couldn’t have asked for more from the Fed, and stocks will celebrate.’

Indeed, the major averages rose on Wednesday afternoon after the Federal Reserve released its policy decision and rate forecast. The S&P 500 gained 0.3 per cent, and the Nasdaq Composite gained 0.5 per cent. The Dow Jones Industrial Average index ended the day up 401 points, or just over 1%. Treasury bond yields mainly fell, with the 10-year benchmark rate recently settling at 4.28%, down 0.01 percentage points.

Conclusion

The Federal Reserve’s latest rendezvous paints a picture of a central bank at a crossroads. Juggling the dual mandates of controlling inflation while fostering employment, the Fed walks a tightrope of monetary policymaking. For consumers and investors, the message is clear: brace for a landscape defined by gradual adjustments and vigilant observation.

The Fed’s strategies and decisions remain pivotal as the economy continues its dance with inflation and growth. With each meeting and announcement, the contours of the economic future gain clarity. Yet, in this era of unpredictability, one truth holds steady: the path ahead is paved with cautious steps and watchful eyes.

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The US presidential elections are getting closer and closer. What to pay attention to? 

US elections 2024: from the candidates to the exact date of the ballot call to speculation on the results, the world has already begun to wonder about the upcoming US presidential election. 

In this simple guide, the event will be reviewed so that you arrive prepared for one of the most eagerly awaited elections in the world, the 60th for the country. Moreover, in a few days, the primaries will begin defining the candidates who will compete for the United States of America president: who will win the 2024 US elections?

When are the next US elections? 

Presidential elections in the United States are held every four years on the first Tuesday in November. Therefore, the next US election will occur precisely on 5 November 2024. Voters will go to the polls to elect a new president, officially taking office on 20 January 2025.

These consultations are crucial in American democracy and attract national and international attention as they influence a wide range of global issues. That is why the focus on them is always at the highest level. 

Candidates

Before going into the details of the 2024 US elections, a few clarifications are in order. The party system in The Stars and Stripes is dominated by two main political parties: the Democrats and the Republicans. Both play a central role in US politics and exert considerable influence on the political process and elections at all levels of government.

In November 2022 came the first confirmation of participation, with Donald Trump announcing his candidature for a second (non-consecutive) term as head of the Republicans. A few months later, in the spring of 2023, President Biden made it official that he would run for a second term with the Democrats. These two influential names were joined by others, more and less well-known. From the outset, the Dems’ line-up was less dense than that of the Republicans. 

In summary, the candidates for the 2024 US elections for the Democrats are as follows: 

• Joe Biden
• Robert Francis Kennedy Jr
• Marianne Williamson
• Dean Phillips

The Republican candidates, on the other hand, are: 

• Donald Trump
• Ron DeSantis
• Doug Burgum
• Larry Elder
• Nikki Haley
• Tim Scott
• Asa Hutchinson
• Chris Christie
• Mike Pence
• Vivek Ramaswamy
• Perry Johnson
• Ryan Binkley
• Will Hurd

But who, among these, will be chosen to lead each political party? The primaries at the beginning of 2024 will decide this. Primary elections are standard consultations in which voters choose the presidential candidates who will represent their party in the general election. 

It is worth mentioning that all candidates in US elections must comply with Article 2 of the Constitution: the person to be proposed must be a citizen from birth, must be at least 35 years old, and must have resided on US soil for at least 14 years.

US primaries 2024: who are the favourites?

The US primary elections are just around the corner, with voting for the Republicans starting on 15 January in Iowa and continuing in the other states in the following weeks and months. As is almost always the case in history, those in opposition (in this case, the Republican ones) are to be followed since it is scarce for the outgoing president, Joe Biden, to lose those on his side. Polls estimate that the current president is ‘the choice’ of almost 70% of Dem voters. However, given his no longer young age, the Democratic Party primaries could also hold surprises. 

On the Republican front, the favourite to date is still Donald Trump. According to recent polls on the US Election 2024, the tycoon has 47%, 45.7% and 53% of the support in the three key seats of Iowa, New Hampshire and South Carolina, respectively. In second place is Nikki Haley, the former South Carolina governor, who ‘controls’ 14.3%, 18.7%, and 22% of the electorate, respectively. Ron DeSantis, the current governor of Florida who looked like he could be the former president’s main antagonist, has lost ground in several caucuses (meetings where voters debate and vote for candidates) apart from that of Iowa, where he still has 17.3% of the vote.

US elections 2024 and cryptocurrencies

Those in the crypto sector will also watch the 2024 US elections closely. Indeed, US government policies are perfectly capable of influencing the regulation of virtual currencies. For instance, choices regarding rules, financial regulations or anti-money laundering laws can directly impact how crypto is used and traded in the US.

Some candidates or administrations may be more or less inclined to support technological innovation, including blockchain technology and cryptocurrencies. Therefore, policies aimed at promoting new technologies could have a positive impact on the ecosystem.

The consequences could also be fiscal and thus concern the taxation of cryptocurrencies (here all things to know about Italian regulations). More generally, positive news for the sector could increase asset prices with positive repercussions for the global crypto market. Will the 2024 US election candidates be able to stimulate the industry? 

You are on the blog of Young Platform, the Italian platform for buying cryptocurrencies. Here you can find the latest news on blockchain, Bitcoin and more. Follow us and stay updated on the US 2024 elections and much more.

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What is automated trading, and how does it work? An intelligent solution for asset trading 

Automated trading has emerged as a crucial component in the contemporary financial landscape, revolutionising how investors interact with financial markets. 

This system employs algorithms, and thus mathematical formulas, to execute buy and sell orders, entrusting a computer programme with the task of operating according to well-defined trading strategies. But what exactly does this approach entail, and its advantages and disadvantages? In short, what is automated trading, and how does it work?

Automated trading: what is?

Automated trading enables you to participate in the financial markets using a computer program that executes trades based on predetermined entry and exit conditions. Traders typically use a combination of technical analysis and setting parameters for their positions, such as opening orders, trailing stops, and guaranteed stops. Automated trading handles trades automatically from start to finish, so you can spend less time monitoring your positions.

Automated trading allows you to execute many trades quickly while removing emotion from trading decisions. All the rules of the trade are already built into the parameters you set. Additionally, some algorithms allow you to use predetermined strategies to follow trends and trade accordingly.

Automated trading: how does it work?

Automated trading systems rely on algorithms or indicators to determine the appropriate times to buy or sell a particular asset. These computer programs may use indicators like the RSI, MACD and Bollinger bands or more complex mathematical and statistical analyses. Once programmed, they operate autonomously, following preset guidelines. 

One of the main strengths of these tools is that they allow investors to maintain a more detached approach. However, it is still necessary to constantly monitor that everything is working correctly. Those who use automated trading tend to be less emotionally involved, a strength when trading in the financial markets. In this sector, emotions can, in fact, condition or even destroy correct and rationally constructed strategies.

How widespread is it?

Knowing what algorithmic trading is also means knowing how popular it is worldwide. This market (or sub-sector) is steadily expanding and is gradually winning over many institutional investors (investment funds and large banks) and retailers or retail investors.

Globally, the trading industry has been valued at USD 2 billion in 2022, while the annual growth rate is about 7%. This means that it is estimated to reach a value of 3.5 billion by 2030. The main reason for the recent expansion is related to the increasing quality of these instruments that have become, over time, more and more accurate and reliable

Automated trading: advantages and disadvantages

Automated trading, like any type of market trading, has advantages, disadvantages, risks, and opportunities. There are no recipes for success; each strategy or indicator must be placed in a specific context. This is why it is necessary to achieve adequate preparation and specific skills before venturing into the world of trading. 

The discourse may differ if one intends to buy and hold an asset over the long term. An easy strategy to set up in this sense is recurring buying, which requires periodic purchases at regular intervals. If this possibility intrigues you, you can explore Young Platform’s ‘piggy bank’ feature, an easy way to buy crypto by averaging the purchase price.

CTA

Returning to the central theme of this article, namely understanding what automated trading is and how it works, let’s look at the main advantages and weaknesses of this type of trading.

Advantages

1. Less emotional involvement: automated trading, algorithms and indicators allow traders to trade according to a rigid strategy. This is very useful to avoid acting impulsively and not being influenced by the movement of the markets.

2. Speed of execution: thanks to automatic trading, orders are executed almost instantaneously once the pre-set conditions occur. This way, more time can be devoted to planning the strategy, and the implementation phase can be experienced with peace of mind.

3. Ability to manage several strategies at the same time: an automated system can follow several strategies or positions at the same time. This makes obtaining a sufficiently diversified portfolio easier, a fundamental component for trading and investing.

Disadvantages

1. Need for monitoring from a technological point of view: contrary to what one might think, automated trading also requires supervision. If you choose to opt for this solution, you must be aware that it is necessary to monitor the functioning of the algorithm regulating the system.
2. Risks of non-conforming performance: past performance does not guarantee future results, which may lead to overly optimistic projections.

In conclusion, having understood what automated trading is and how it works, it is worth reiterating that, although it offers numerous advantages, it has risks. Nevertheless, the number of trades handled through this modality is constantly growing.

You can now buy Flare (FLR) on Young Platform. If you were eligible for its airdrop, check your wallet!

You can now buy, sell and store FLRs on Young Platform! The good news, however, does not end there. 

An airdrop is also coming/coming for users who held Ripple (XRP) in December 2020. Here’s what Flare (FLR) is, everything you need to know about the free distribution of this token and how it fits in the context of the benefits provided to our Club members.

Flare: all you need to know

Flare is a Layer 1 Proof-of-Stake blockchain that aims at interoperability, a key component for projects that intend to communicate with decentralised applications (dapp) and protocols built on other blockchains. 

Its primary use case has to do with this very feature. As stated in its whitepaper, published in August 2020, the mission was to enable the development of smart contracts on networks that needed to be prepared to receive them.

Flare’s blockchain, which before the release of the second version was called Spark, has always been closely linked to Ripple and, in particular, to the XRP Ledger, as evidenced by the airdrop dedicated to cryptocurrency holders of the same name.

How to use FLR on Young Platform

Here are all the features available for Flare(FLR) on Young Platform and Young Platform Pro:

• Buying and selling with EUR
• Recurring purchase
• Creating a Single Currency or Customised Money Box

FLR’s airdrop: who gets it?

Young will distribute the Flare token (FLR) to all users who own Ripple (XRP) in their wallet on 12 December 2020, 00:00 UTC. The number of Spark tokens that each user will receive depends on the amount of XRP held and will be calculated according to the following formula:

User A = Amount of XRP held by User A at the time of airdrop / Total XRP held by Young at the time of airdrop * Total FLR received by Young for the Airdrop.

Finally, Club members will be pleased to learn that the ‘airdrop reward’ advantage applies to this free distribution of tokens. This means that these users will receive progressively more tokens depending on which Club they belong to:

• Club Bronze +10%;
• Club Silver +15%;
• Club Gold +20%;
• Club Platinum +25%.

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For the fourth consecutive meeting, the Federal Reserve keeps interest rates unchanged. Powell is sceptical about March cuts.

In a move anticipated by the market, during the FED’s meeting on January 30-31, 2024, it was decided to maintain the federal funds rate between 5.25% and 5.5%. This decision marks a continuation of the stance adopted since July 2023, reflecting the committee’s strategy in the face of good but not solidified economic indicators. “We don’t have a growth mandate. We have a mandate of maximum employment and a price stability mandate,” commented Federal Reserve Chairman Jerome Powell following the meeting.

Since the strong inflationary wave in 2022, which reached its highest peak in forty years, the Federal Open Market Committee (FOMC) has undertaken a strict policy to rebalance the economy. This led to a series of interest rate hikes aimed at containing inflation, starting in March 2022. Indeed, since then, it has shown signs of slowing down. However, such high interest levels had not been recorded for over two decades, increasing market pressure for the Fed to intervene with a cut in the coming months.

During the January 2024 FED meeting, the Committee emphasised its intention to maintain a high vigilance. Balancing economic factors remains a delicate and non-guaranteed task: reducing interest rates could jeopardise the downward trend of inflation. On the other hand, the U.S. economy risks falling into a recession. “Inflation is still too high, ongoing progress in reducing it is not guaranteed, and the path forward is uncertain,” said Jerome Powell in his post-meeting press conference.

Despite such statements, traders continue to bet on a rate cut that would bring them between 3.75% and 4% by the end of the year. This would mean that the FED should start consistently cutting rates with increments of a quarter of a percentage point at each meeting starting in May. For those still anticipating a cut in March, Powell emphasised, “I don’t think it’s likely that the Committee will reach a level of confidence by the March meeting.”

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As the ECB meeting in January 2024 approached, speculation in the financial markets was rife. However, the decisions made at the January 25, 2024 meeting reflected a cautious approach in a continually evolving economic landscape. In line with analysts’ expectations, the European Central Bank maintained interest rates at their current levels.

Maintaining Interest Rates

The Governing Council of the ECB, in its meeting on January 25, 2024, unanimously decided to keep the three key ECB interest rates unchanged. This decision means that the interest rates on the primary refinancing operations, the marginal lending facility, and the deposit facility remain at 4.5%, 4.75%, and 4%, respectively. This move aligns with the ECB’s commitment to ensuring medium-term inflation aligns with its 2% target.

Statements from Christine Lagarde

Christine Lagarde, President of the European Central Bank, commented, “The Eurozone economy likely stagnated in the last quarter of 2023 and was weak in the first quarter of 2024. However, some indicators point to a recovery later in the year. Inflation, which fell to 2.9% in December, is expected to continue to decline in 2024.” She emphasised that discussing interest rate cuts is still premature, as the ECB must progress further in the disinflation process before being sure that inflation will reach its 2% target.

At the World Economic Forum in Davos, Lagarde highlighted the factors the ECB is monitoring that will influence future interest rate decisions. Notably, she mentioned a shift from the ‘normality’ pre-2023, suggesting that the normalisation observed in 2023 is leading towards a “non-normal” period, where we will witness a change in the drivers of the global economy and new growth modalities.

The Role of Consumption

Until now, consumption has acted as a vital growth engine, driven by favourable conditions that are waning. This gradual depletion of positive factors implies a transformation in the economy’s driving force.

Drastic Reduction in Savings

We have witnessed a significant reduction in excess savings in advanced economies, dropping from an average of 10% to figures close to zero. This decrease, along with a less tense labour market, suggests a decline in consumption power as an economic driving force.

Global Trade and Growth Prospects

Global trade is another element showing signs of normalisation and significantly impacting the Council’s decisions. Europe struggles to keep pace with the significant powers, burdened by the geopolitical situation. Ngozi Okonjo-Iweala, Director-General of the World Trade Organization, emphasised that thanks to the resilience of international trade, Europe has been able to overcome the cut in energy imports from Russia following the invasion of Ukraine.

Governing Council’s Outlook

In the ECB meeting in January 2024, the Governing Council highlighted that new information essentially confirms their previous assessment of medium-term inflation prospects. Despite a base effect causing an increase in overall energy-related inflation, the downward trend in underlying inflation continues.

Monetary Policy: What’s Next?

The Governing Council remains committed to bringing inflation back to the 2% target on time. Based on its current assessment, the Council believes that the ECB reference rates, if maintained sufficiently long, will significantly contribute to achieving this objective.

Asset Purchase Program (APP) and PEPP

During the ECB meeting in January 2024, the Council noted that the APP portfolio is reducing at a measured and predictable pace. Regarding the PEPP (pandemic emergency purchase program), the Council plans to reinvest the capital repaid on maturing securities in the first half of 2024, reducing the PEPP portfolio by an average of €7.5 billion per month in the second half of the year, and ending reinvestments by the end of 2024.

Analysts’ Reactions

Analysts like Morgane Delle Donne, Head of Investment Strategy Europe at Global X, noted that markets anticipate a more dovish turn by the ECB within the year. Martina Daga, Macro Economist at AcomeA SGR, pointed out that the ECB’s acknowledgement of positive progress in inflation and the labour market shows a softer stance. Nicolas Forest, CIO at Candriam, highlighted the ECB’s data-dependent approach, not expecting policy easing before June. David Chappell, Senior Fixed Income Portfolio Manager at Columbia Threadneedle Investments, noted that Lagarde hinted at the possibility of a rate adjustment starting in June.

Growth Estimates

The ECB revised downward its inflation and growth estimates for the Eurozone for the first quarter of 2024. This emerged from the Survey of Professional Forecasters (SPF), involving 59 economists and financial analysts, conducted between January 5 and January 10.

Inflation is expected to decrease to 2.4% in 2024 and stabilise at 2% in 2025 and 2026. Real GDP growth expectations for 2024 and 2025 have also been revised downward, with a slowdown projected at 0.6% this year and a recovery to 1.3% next year.

Conclusion

The ECB meeting in January 2024 concludes with a cautious yet vigilant approach to monetary policy, reflecting the central bank’s commitment to price stability and economic growth amid revised forecasts and changing global conditions. The decision to keep interest rates unchanged, along with the downward revisions in inflation and growth estimates, indicates careful navigation in a complex economic environment.

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Despite earlier announcements by the team at the launch of the blockchain, Base’s airdrop might be just around the corner. Base, the Layer 2 developed by Coinbase, the world’s largest cryptocurrency exchange, might reward its network users in the coming months.

A few months ago, the same team said they would not launch a token. However, the situation appears reversed, given the recent shift in the relationship between the exchange and U.S. regulatory bodies. Learn about the potential Base airdrop, Ethereum’s Layer 2, developed by Coinbase.

What is Base, Coinbase’s Blockchain?

Base is an Ethereum Layer 2 developed by the world’s leading crypto company, Coinbase. Available in over 100 countries for several years, the exchange offers a wide range of products to an equally broad customer base (about 7.3 million) and manages approximately $130 billion in assets on its platform.

This network is built using Optimism’s development stack, which is similar to the current second most famous Ethereum scalability solution. It utilises optimistic roll-up technology to allow users to process transactions quickly and cheaply and is compatible with the Ethereum Virtual Machine (EVM).

How to Qualify for Base’s Airdrop?

Neither the Base team nor Coinbase has confirmed the arrival of the Layer 2 token, so the existence of a future Base airdrop is not particular. Contrarily, they specified the opposite in the months before the mainnet launch. However, after statements by Paul Grewal, Chief Legal Officer (CLO) of Coinbase, many are more optimistic and believe that this free token distribution is imminent.

It’s important to note that it’s usually too late to qualify when a protocol announces an airdrop. Therefore, starting early is almost always mandatory, even if its arrival isn’t sure.

Since we don’t know if Base’s airdrop will occur, the requirements to receive it remain a mystery until the possible announcement of the free distribution. However, we can speculate based on past airdrops, which almost always rewarded frequent interactions with a particular protocol and the volume of crypto traded.

Practical Guide to Base’s Airdrop

Assuming Base’s airdrop is on the horizon, let’s explore the most likely steps to qualify.

1. Access to a Decentralized Crypto Wallet and Network Integration

To receive Base’s airdrop, you must act on-chain directly on Ethereum’s Layer 2. First, you need a decentralised wallet and add Coinbase’s blockchain. Several wallets support it, notably Metamask and Coinbase Wallet, the decentralised wallet developed by the exchange.

To add the Base blockchain to your Metamask, consult the official documentation of Layer 2 and enter the necessary data. For convenience, here are the details below, but be aware that the RPC address might change over time, so always check Base’s official website.

– Name: Base Mainnet

– Description: The public mainnet for Base

– RPC Endpoint: https://mainnet.base.org

– Chain ID: 8453

– Currency Symbol: ETH

– Block Explorer: https://basescan.org

2. Purchase Ethereum on Young Platform and Withdraw

Base, as mentioned, is an Ethereum scalability solution, so if you want to qualify for the airdrop, you need to own some Ether. This will enable you to use the dapps and process the necessary transactions to qualify for the distribution. You can use Young Platform by clicking this button if you don’t own any.

Buy ETH!

To transfer your ETH from your Young Platform account to your decentralised wallet, follow this guide. Remember, it’s essential to withdraw the ETH you want to use through the Ethereum network.

3. Reach Base through an Official Bridge

The best way to reach Base is through the official bridge. Using it could be one of the essential requirements to qualify for free token distribution. To transfer your Ethereum (ETH) to Base, simply connect your wallet, select the amount you want to send, confirm, and approve the transaction.

4. Utilise dapps on the Blockchain

Once your ETH has reached its destination, you should start interacting with the decentralised applications (dapps) on Layer 2 to qualify for the potential Base airdrop. Decide how to proceed based on the amount of ETH you intend to use (necessary to cover the gas fees, which are relatively low due to the high scalability of this network).

The most popular strategy for “airdrop hunting” involves making swaps between tokens available on the blockchain, using native decentralised exchanges (DEX) if possible – specifically created for that network. The most famous on Base are Aerodrome and BaseSwap, but you can check Defillama’s dedicated page to discover all the most used dapps on the network.

If you’re feeling adventurous, you can explore more advanced protocols like yield farming. Lastly, you could use one of the most popular platforms exclusively on Base, such as Friend Tech, the most famous example of socialFi.

4. Regular Use of the Blockchain

Finally, the frequency of your interaction with this network might be necessary for receiving the Base airdrop if it happens. Past free token distributions have rewarded users who regularly interacted with the network.

Therefore, it’s advisable to repeat the actions described in the previous steps over time. Another criterion the Coinbase team might consider is the variety of dapps used. To meet this requirement, connect your wallet and carry out operations on different platforms of Layer 2.

Should it be confirmed, you’ve just read the likely fundamental requirements to receive the Base airdrop.

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After the approval of Bitcoin ETFs, Bloomberg expects Ethereum ETFs to follow. How has the market reacted?

These are festive days for crypto enthusiasts, marked by much positive news. Following the approval of Bitcoin ETFs yesterday evening, many now anticipate Ethereum ETFs. This may be why its price has surged in recent hours.

What will happen in the coming days? Will the anticipated spot ETFs on Ethereum in May arrive? Find out all the latest news on this topic in this article!

Ethereum ETFs: Are They Coming Soon?

According to Eric Balchunas, one of the world’s leading ETF experts, there’s a 70% chance that Ethereum ETFs will arrive. This may be why the SEC’s announcement initially positively impacted Ethereum’s price more than BTC. The most capitalised crypto in the market had already partly priced in the event, although in the last hours, it’s recording a +9% increase compared to yesterday.

In any case, the long-term outlook for the entire market is optimistic; the bear market is officially over, and large investment funds are ready to inject significant amounts of money to offer their “brand new” financial instruments.

The first helpful deadline for Ethereum ETFs, which could grant another victory to the crypto world, is May 23rd. We will see if the SEC and its chairman, Gary Gensler, will set aside their reservations about the crypto created by Vitalik Buterin.

The Impact on Charts of ETF Approval

Those expecting a tumultuous price movement immediately after the ETF approval might be disappointed; Bitcoin’s value in the hours following the announcement remained between $44,500 and $47,000. It’s probably because the whole world expected an affirmative response from the SEC. The situation changed after trading on the ETFs began, which recorded more than 2 billion in volumes in a few minutes. Bitcoin has reached nearly $49,000 and now seems intent on reaching the crucial level of $50,000.

However, Ethereum’s rally started earlier. Probably thanks to the words of Bloomberg analyst Eric Balchunas and other commentators on the Ethereum ETFs. The crypto broke through the $2,400 support and reached $2,600 overnight.

The current scenario in which Bitcoin’s price action is placed could further improve thanks to the entry of investment funds. According to estimates by Chartered Bank, BlackRock, VanEck, and Microstrategy, from 40 to 100 billion in the next four years.

The fact that Bitcoin’s price didn’t react super explosively to the announcement could also be an opportunity for retailers, especially those with a strategy to protect themselves from volatility. Our strategy is recurring purchases involving tiny, regular purchases over time; try it in the Moneybox section of our app!

One question remains: when did the trading of ETFs officially begin? These financial instruments are available on three exchanges: The New York Stock Exchange (NYSE), NASDAQ, and the Chicago Board Options Exchange (CBOE).

Trading on the most famous, BlackRock’s iShares Bitcoin Trust listed on NASDAQ, began a few hours ago, while for the Galaxy Bitcoin ETF by Invesco, available on the CBOE, it was already possible to set purchase orders from last night. The volume counter generated by these financial instruments has gone crazy; at the time of writing, more than 2 billion dollars in spot ETFs on Bitcoin have already been traded.

These are all the latest essential news on ETFs on Ethereum and Bitcoin. Continue following our blog so you do not miss any updates.

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