Reserve

Hamster Kombat

THORChain

Celestia

<p class="is-style-lead">Annual consumer prices retreated in August, raising hopes that the Federal Reserve will start cutting interest rates in its September meeting.</p> 
<p>Cryptocurrencies and U.S. stocks continued rising on Wednesday, Aug. 14 after the release of July’s inflation report. THORChain (<a href="https://crypto.news/price/thorchain/" target="_blank" rel="noreferrer noopener">RUNE</a>) was the <a href="https://crypto.news/rune-jumps-14-on-kujira-partnership-and-bitcoins-climb-above-61k/" target="_blank" rel="noreferrer noopener">top gainer of the day</a> as it jumped by 12%. It was followed by Toncoin (<a href="https://crypto.news/price/toncoin/" target="_blank" rel="noreferrer noopener">TON</a>), Notcoin (<a href="https://crypto.news/price/notcoin/" target="_blank" rel="noreferrer noopener">NOT</a>), and Celestia (<a href="https://crypto.news/price/celestia/" target="_blank" rel="noreferrer noopener">TIA</a>), which rose by over 10%.</p> 
<p>Toncoin’s token climbed to $7.27, its highest point since July 20 and 51% above its lowest point this month. Similarly, Notcoin, the popular tap-to-earn token, rose to $0.0128, while Celestia increased to $6.60. Other major coins like Bitcoin (BTC), Ethereum (ETH), and Cardano (<a href="https://crypto.news/price/cardano/" target="_blank" rel="noreferrer noopener">ADA</a>) were also in the green.&nbsp;</p> 
<h2 class="wp-block-heading" id="us-inflation-slowed-in-july">US inflation slowed in July</h2> 
<p>According to the Bureau of Labor Statistics, the headline Consumer Price Index (CPI) slowed to 2.9%, while the core CPI dropped from 3.3% in June to 3.2% in July. However, both figures rose slightly by 0.2% on a month-on-month basis.</p> 
<p>The U.S. CPI data came a day after the statistics agency published weaker-than-expected producer price index numbers, leading to a strong rebound in American equities. The Dow Jones and the Nasdaq 100 indices rose by over 400 points, while the U.S. dollar index slipped.</p> 
<p>These numbers imply that the Federal Reserve will likely start cutting rates in its September meeting. In a Bloomberg interview, David Rubenstein, the billionaire founder of Carlyle, predicted that the Fed would cut by 0.25% instead of 0.50%, citing the U.S. election period.</p> 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
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<p>Cryptocurrencies like Celestia, Notcoin, and Toncoin could receive a boost from rate cuts since they tend to push investors toward riskier assets. This dynamic helps explain why most coins rallied during the Covid pandemic.</p> 
<p> You might also like: <a href="https://crypto.news/ondo-finance-token-at-risk-if-fed-begins-cutting-rates/"> Ondo Finance token at risk if Fed begins cutting rates </a> </p> 
<h2 class="wp-block-heading" id="ton-40-million-venture-fund">TON $40 million venture fund</h2> 
<p>Toncoin and Notcoin also rallied after the TON Blockchain, backed by Telegram, launched a new <a href="https://x.com/ton_blockchain/status/1823694572188299414" target="_blank" rel="">$40 million fund</a> to support networks in the ecosystem.</p> 
<p>The developers hope these funds will attract new developers and those migrating from other blockchains like Ethereum and Solana. This ecosystem fund comes at a time when the Toncoin ecosystem is booming, supported by games and tap-to-earn platforms like Hamster Kombat and TapSwap.</p> 
<p>TON Blockchain also has nearly <a href="https://defillama.com/chain/TON" target="_blank" rel="">$600 million locked</a> in its DeFi ecosystem, with STON.fi, DeDust, and Tonstakers being the biggest players on the platform.</p> 
<p>Ecosystem funds are common in the blockchain industry. In June, the Manta Foundation launched its $50 million fund. Other chains with similar funds include Base, Avalanche, and Sui.</p> 
<p>Celestia’s rally was mainly driven by investors buying the dip, as there was no specific news about the network.</p> 
<p> You might also like: <a href="https://crypto.news/manta-foundation-launches-50-million-ecosystem-fund/"> Manta Foundation launches $50m ecosystem fund </a> </p>

Toncoin, Notcoin, Celestia rises as July US inflation drops

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