Key Events in the Crypto and Macro Sectors: May 4-8, 2024

The week of May 4-8, 2024, promises to be packed with significant events in both the cryptocurrency and macroeconomic sectors. Here's a detailed overview of the most important appointments.

Crypto Events

Governance and Voting

  • Lido DAO: Vote to temporarily lower the first risk protection for EarnETH below 1%, ensuring full reimbursement to users if the rsETH deficit is resolved through DeFi United. Voting ends May 6.
  • Beefy DAO: Vote to authorize the Treasury Council to conduct private purchases of BIFI when the price falls below the "fair value". Voting ends May 6.
  • World Liberty Financial: Vote to restructure the vesting for locked WLFI tokens. Early supporters will have a 4-year vesting program, while insiders must burn 10% of their allocation and accept a 5-year vesting. Voting ends May 6.
  • Arbitrum DAO: Vote to release 30,766 ETH frozen by the Security Council after the Kelp DAO exploit to the DeFi United recovery fund. Voting ends May 7.
  • CoW DAO: Vote on using its Legal Defense Fund to reimburse users who lost $1.2 million in the cow.fi domain hijack on April 14. Voting ends May 7.
  • Mantle DAO: Vote to lend up to 30,000 ETH to Aave as structured credit for 36 months, benchmarked on Lido's stETH staking yield plus a 1% spread, as part of the DeFi United rsETH recovery. Voting ends May 8.

Unlock and Airdrop

  • May 5: Ethena (ENA) will unlock 2.12% of its circulating supply, worth $17.34 million.
  • May 5: Snapshot for the OPG airdrop by Virtual Protocols is expected.
  • May 4-10: The 35th quarterly burn of BNB is expected.

Conferences

Other Events

  • May 4: Coinbase will remove DAI and convert the remaining tokens to USDS.
  • May 4: ZKsync Lite will be fully deprecated.

Macro Events

Interest Rate Decisions

  • May 4, 23:30: Reserve Bank of Australia interest rate decision. Forecast: 4.35% (Previous: 4.1%)
  • May 6, 6:50: Bank of Japan monetary policy meeting minutes

Economic Data

  • May 5, 9:00: U.S. JOLTs Job Openings for March (Previous: 6.882M)
  • May 6, 4:00: Euro Area Producer Price Index YoY for March (Previous: -3%); MoM (Previous: -0.7%)
  • May 7, 7:30: U.S. Initial Jobless Claims for the week ending May 2 (Previous: 189K)
  • May 8, 7:30: U.S. Non-Farm Payrolls for April (Forecast: 73K, Previous: 178K)
  • May 8, 7:30: Canada Unemployment Rate for April (Previous: 6.7%)

Conferences

  • May 8, 18:30: Fed Presidents Mary Daly and Austan Goolsbee will participate in a conference on "Independence, Structure, and Future Risks for Central Banks". More information.

ETF Reports

While ETF inflows have resumed, the recovery has not yet matched last autumn's peak.

  • U.S.-listed spot bitcoin ETFs have attracted $3.29 billion in the past two months, bringing net cumulative inflows since the start of 2024 to $58.72 billion, still below the $61.19 billion peak reached in October.
  • The current recovery in ETF demand has not yet fully offset the $6.38 billion of outflows...

The coming week will be crucial for the crypto and macro sectors, with events that could influence markets and investor decisions. Keep an eye on developments and participate in governance votes to help shape the future of your favorite platforms.

Here is a summary in Italian without repetitions:

Upcoming Crypto Events

  • May 5: Coinbase will publish quarterly results post-market.

    • Governance Votes

    Token Unlocks

    Macro Events

  • May 5, 9:00: ISM Services PMI for April (estimate 54).
  • May 8: End of the airdrop process for SoSoValue.
    • Note: Estimates and data are based on sources updated at the time of publication.

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