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Both the headline and core rates of inflation rose faster than expected in January.
The token, trading under the ticker symbol SMLR, saw a 300% rise after launch but then plummeted.
Some traders expect a dollar unwind on any indications of a rate cut — which could bump risk assets and provide an entry for crypto investors looking to bet on higher prices.
The firm has already accumulated tokens of various networks
The massive demand came on a Saturday, when MoonPay’s fiat accounts were inaccessible due to the weekend with a public holiday on the following Monday for the swearing-in.
BTC buyers over Binance seem to be leading the BTC price action ahead of the CPI release.
A soft U.S. inflation report later Wednesday will likely bode well for risk assets, including bitcoin. But those expecting bullish fireworks may be disappointed.
LinksDAO began by selling NFTs, but the market has moved on in the time since.
Quintenz has been known for his crypto advocacy