August Market Recap
The crypto market experienced relative stability in August without Federal Open Market Committee (FOMC) meetings.
Key August performance metrics:
- Bitcoin: 6.32% price increase (23,700 → 25,200 USD)
- Ethereum: 15% surge (1,730 → 2,000 USD) fueled by Merge anticipation
Since August 16, bearish sentiment emerged as Fed officials signaled aggressive September rate hikes. This month brings both challenges and opportunities for crypto investors.
I. Major Economic Events
1. Federal Reserve Rate Decision (September 20-21)
Current projections:
- 75 basis point hike: 70.5% probability
- 50 basis point hike: 29.5% probability
Key developments:
- Chair Powell's Jackson Hole speech emphasized continued tightening
- Accelerated balance sheet reduction (60B→90B monthly)
- August non-farm payroll data (September 2) will influence final decision
Market impact: Increased liquidity contraction may pressure crypto valuations
2. European Central Bank Meeting (September 8)
Expected outcomes:
- 75bp hike probability: 67%
- Minimum 50bp hike confirmed by multiple ECB officials
II. Ethereum Network Upgrade
The Merge (Estimated September 16)
Technical transformation:
- POW → POS consensus shift
- 99%+ energy reduction
- Staking replaces mining
Key dates:
- September 6 & 15: ETH wallet maintenance periods
- September 1: Fork countdown begins
Post-Merge considerations:
- Potential chain splits
- Exchange support for possible new tokens
III. Global Crypto Policy Updates
| Jurisdiction | Policy Change | Effective Date |
|---|---|---|
| United States | Multi-agency crypto reports due | September 5 |
| Philippines | 3-year moratorium on new VASP licenses | September |
| United States | Stablecoin regulation bill enters House review | September |
IV. Blockchain Infrastructure Developments
1. EOS EVM Mainnet Launch (September)
- 30% price surge following announcement
- Enables Ethereum compatibility
2. Aptos Mainnet Debut (September)
- Diem successor with Move language
- Multi-currency Gas payments
V. Notable Project Updates
Meta's Crypto Sunset (September 1)
- Novi wallet closure
- End of Facebook's blockchain initiatives
Ethermine Transition (September 15)
- ETH mining termination
- Continues support for ETC, RVN
VI. Web3 Adoption Highlights
Institutional Moves
- Bentley's Polygon NFT collection (208 pieces)
Industry Events
- Shanghai Blockchain Week (Virtual, September 16-21)
Topics include: Layer 2, DAO, Web3.0 infrastructure
FAQ Section
Q: How will Fed rate hikes affect crypto?
A: Tighter liquidity typically pressures risk assets, but crypto has shown decoupling potential during past hikes.
Q: What happens to ETH miners post-Merge?
A: Mining hardware becomes obsolete for ETH; alternatives include ETC mining or staking participation.
Q: Are stablecoins becoming regulated?
A: The proposed U.S. bill would establish reserve requirements and issuer standards.
👉 Stay updated on market-moving events
Q: Why is EOS adding EVM support now?
A: To capture Ethereum developers seeking lower-cost alternatives with comparable functionality.
Q: What makes Aptos special?
A: Its Move language combines Solidity compatibility with enhanced security features.