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Main crypto events of this week

Ronaldo presents a collection of NFTs, the SEC makes a decision on an application for a spot Ethereum-ETF from Hashdex, the latest GDP data is published in the USA – we talk about the main events of this week.

Token unlocks – from May 27

The beginning of the week again pleases investors with a new portion of major unlocks, which the community always awaits with great interest.

The most notable will be the unlocking of more than 98 million 1inch tokens (1INCH).

Ronaldo NFT collection release – May 29

This Wednesday, world-famous Portuguese footballer Cristiano Ronaldo will present his new collection of non-fungible tokens (NFTs). He announced its release on its official account on the social network X (formerly Twitter).

The fourth collection will be dedicated to the history of football and will also highlight the most legendary moments from Ronaldo's sports career. The collectibles will be released in collaboration with one of the leading crypto exchanges Binance and will be available on the NFT marketplace of the trading platform.

Cristiano Ronaldo is far from the first and not the only celebrity who has started creating custom NFT collections.

The deadline for applying for ETFs from Hashdex is May 30

Another deadline has been set for this Thursday – now we are awaiting another decision from the US SEC on applications for the creation of spot ETFs on Ethereum.

We are talking about an application from the Brazilian asset manager Hashdex. The company has been seeking the launch of its instrument for a long time – back in September 2023, it submitted an application to launch a hybrid Ethereum-ETF.

A few days earlier, on May 24, the Commission approved 8 applications to launch spot ETHETF. BlackRock, Grayscale, Fidelity, VanEck, Franklin Templeton, Bitwise, ARK Invest/21Shares and Invesco/Galaxy received the green light. However, some analysts believe that trading in the new financial instrument will begin no earlier than in six months.

US GDP Data – May 30

This Thursday, at 15:30 Moscow time, will come out Gross Domestic Product (GDP) data.

This information will directly affect the health of the country’s main currency, the US dollar. If actual indicators turn out to be higher than expected, the market will see a rise in the dollar, and otherwise a decline.

GDP (gross domestic product) is the market value of all goods/services produced in a country for consumption; It is also the total income of citizens, companies and the state for a certain period. This indicator is used to assess how well a state's economy is performing: if GDP grows, the country is developing.

conclusions

Several important events await us this week: token unlocks and the launch of a new NFT collection. All of them are capable of lifting the mood of the crypto market.

As always, traders and investors will have to keep a close eye on the US market this week as well. A ruling on applications for spot Ethereum ETFs could temporarily upset investors and ETH, or, on the contrary, further strengthen the position of Ethereum.

In addition, the publication of current data on the current state of GDP in the States can affect the health of the US dollar and, as a result, the health of Bitcoin.

Source: Cryptocurrency

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