Crypto & Finance Weekly: This week features key events in US finance and cryptocurrency. US economic reports will provide insights into the world’s largest economy, potentially influencing global markets, including crypto. Meanwhile, the crypto space is active with token releases, game updates, and platform changes worth tracking. Here’s a day-by-day breakdown of what to expect.
US Economic Events
The US will release critical data this week, with implications for global markets and crypto.
Monday, March 3
- 3:00 pm UTC: US ISM Manufacturing Report
February’s numbers will show whether US factories expanded (above 50) or contracted (below 50). Last month’s figure was 50.9, with forecasts at 50.6. Growth signals stronger jobs and output, closely monitored by markets and the Federal Reserve. - 3:00 pm UTC: US Construction Spending
January’s data tracks spending on building projects like homes and offices. It rose 0.5% last month, with a 0.1% increase expected. Higher spending suggests economic momentum. - TBA: US Auto Sales
February’s car sales, time unconfirmed, totaled 15.6 million last month. Strong sales reflect consumer confidence.
Wednesday, March 5
- 1:15 pm UTC: US ADP Employment Report
This private-sector jobs snapshot reported 183,000 new roles last month, with 143,000 forecasted for February. It previews Friday’s broader jobs data. - 3:00 pm UTC: US ISM Services Report
February’s services sector, including industries like healthcare—recorded 52.8 last month, with 52.9 expected. Expansion here underscores strength in a major economic segment. - 7:00 pm UTC: US Fed Beige Book
This summary of US economic conditions informs the Federal Reserve’s policy decisions with real-world insights.
Friday, March 7
- 1:30 pm UTC: US Jobs Report
February’s data covers job growth (143,000 last month, 160,000 forecasted), unemployment (4.0% last month, 4.1% expected), and wages (0.3% monthly increase, 4.1% yearly). This report could sway Fed rate decisions. - 5:30 pm UTC: US Fed Chairman Jerome Powell Speaks
Powell’s remarks on the economy and rates often impact global investment trends.
Other Fed Voices
Federal Reserve officials will speak throughout the week:
- Tuesday, 7:20 pm UTC: New York Fed President Williams
- Thursday, 8:30 pm UTC: Fed Governor Waller
- Friday, 12:00 am UTC: Atlanta Fed President Bostic
- Friday, 3:45 pm UTC: Williams again
Powell’s speech remains the highlight.
Crypto News
The crypto sector sees notable updates this week, from token releases to platform upgrades.
Token Unlocks
New tokens entering circulation:
- SUI: 40.63 million tokens unlock March 3 (1.28% of supply), worth 125.53 million USDC.
- IOTA: 8.63 million tokens unlock March 4 (0.24% of supply), valued at 2.15 million USDC.
- (JTO) Jito: 11.31 million tokens unlock March 7, worth 29.72 million USDC.
Axie Infinity Update
Starting March 4, (AXS) Axie Infinity reintroduces Smooth Love Potion (SLP) rewards in Classic Battles, with a full season launching March 10. SLP is used to breed Axies, the game’s digital pets. This may boost activity in the play-to-earn gaming sector.
Source | outlierventures
Circle’s USDC Talk
On March 5 at 4:00 pm UTC, Circle hosts a discussion on USDC, a dollar-pegged stablecoin. It processed 21 trillion USDC in 2024 transactions, up 78% from 2023. Stablecoins like USDC stabilize crypto volatility, enabling trades and purchases.
TRON’s GasFree Feature
TRON’s GasFree launch (date pending between March 3-4) allows developers to pay fees in USDT instead of TRX. This simplifies transactions and could attract more users.
Wrapping Up
From U.S. jobs data and Fed commentary to crypto token releases and gaming updates, this week offers pivotal moments for markets and strategies. Keep in mind, this article is for informational purposes only and is not financial advice. Always do your own research (DYOR) before making any investment decisions. You can explore more insights on blog.millionero.com. When you’re ready, trade spot and perpetual futures on Millionero.