This month, the US published weak jobs and inflation data which could have an impact on cryptocurrencies, including Chancer. American stocks rose to a multi-month high while the US dollar index dropped to the lowest level since April 2022. In addition, US bond yields and the CBOE VIX index also went down after the US revealed encouraging inflation data.
The US had mixed jobs numbers last week. A report by ADP showed that the American economy added over 400k jobs in June and a separate report by the statistics bureau revealed that the US economy added over 209k jobs during the month. The official report was less than expected.
Moreover, the US published soft consumer inflation data on Wednesday. The Bureau of Labor Statistics reported that the headline consumer price index (CPI) fell from 4% in May to 3.0% in June, while core inflation continued to decline. Inflation is therefore approaching the 2% target rate and this trend could happen faster than expected.
As a result, the Federal Reserve is likely to deliver another 0.25% rate hike this month and then pause indefinitely. This shift in tone could be a positive thing for assets like stocks and cryptocurrencies.
Another important crypto news of the week is that Chancer developers introduced more ways to buy the token. In addition to BUSD, the developers added Ethereum, Tether (USDT), and Binance Coin as options to buy the token.
The Chancer token presale is also doing well. Thousands of people have already purchased the token, bringing the total amount raised to over $748k. The total amount of Chancer token sold is over 74 million.
Chancer is a platform that seeks to revolutionize the sports betting and prediction market by using the blockchain technology. It is a global platform that will make it possible for people to bet on international sports using cryptocurrencies. Additionally, users can create their own markets and livestream them on the platform. Chancer is now selling tokens as the developers prepare to launch the testnet in the coming months.
In conclusion, anyone interested in buying the $CHANCER token can do so here. It is important to read the Chancer white paper to learn more about the project. As always, it is important to exercise caution when investing in Chancer and other token presales.
