# Bullish Market Bounce

*Author: Bankless*
*Published: Aug 23, 2024*
*Source: https://www.bankless.com/bullish-market-bounce*

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[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/08/Frame-50567--6-.png)](https://www.bankless.com/sponsor/uniswap-extension-1719068020?ref=the-bankless-guide-to-magic-eden&email=true)

  
Bullish Market Bounce
    
  

  
Published on Aug 23, 2024

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.  .  .

 
  
    
      
      NEED TO KNOW
    
    
  
  
    
Rate Cuts Incoming
  

  

 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/08/Group-14--2-.png)](https://www.bankless.com/dashboard)- ✂️ **Jerome Powell Gets Ready to Cut Interest Rates. **At a Jackson Hole summit, Powell [signaled](https://www.bankless.com/jerome-powell-gets-ready-to-cut-interest-rates) it would soon be time to cut rates.
- 🚀 **Sony Introduces Soneium Ethereum L2. **It's one of the biggest mainstream names to [launch](https://www.bankless.com/sony-introduces-soneium-its-ethereum-l2-network) its own chain this cycle.
- 🇮🇳 **WazirX Starts Rupee Withdrawals Following Major Hack. **Crypto withdrawals are still [unable to be processed](https://www.bankless.com/wazirx-starts-rupee-withdrawals-following-major-hack) after the disastrous attack.

.  .  .

 
  
    

    MARKET VIBES

  
  
Bullish Bounce
    
  
   
     
   
     
    
 

**📸 Daily Market Snapshot: **Markets finally got their long-awaited signal from Fed chairman Powell that interest rate cuts are coming. The news sent markets climbing higher, with BTC pushing toward $64K and ETH climbing over $2,750.

Prices as of 5pm ET
24hr
7d

 

       ![](https://banklesspublic.b-cdn.net/cmc.png)
    

  **Crypto**
   
          $2.24T
       

  
    
    ↗ 4.9%
    
  

   
    
    ↗ 7.7%
    
  

       ![](https://banklesspublic.b-cdn.net/btc.png)
    

  **BTC**
   
          $63,690
       

  
    
    ↗ 4.0%
    
  

   
    
    ↗ 7.4%
    
  

       ![](https://banklesspublic.b-cdn.net/eth.png)
    

  **ETH**
   
          $2,755
       

  
    
    ↗ 5.1%
    
  

   
    
    ↗ 5.5%
    
  

       ![](https://s2.coinmarketcap.com/static/img/coins/64x64/29676.png)
    

  **APT**
   
          $7.15
       

  
    
    ↗ 11.0%
    
  

   
    
    ↗ 20.2%
    
  

  

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↗️**New Token Rating: Aptos** has ripped 60% off its August lows. Is it time to bid APT?[Unlock APT on Token Hub](https://www.bankless.com/tools/token-hub/aptos)

.  .  .

 
  
    

LEARN

  
  
    
   
Dig Into Magic Eden

  
  

 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/08/image--12-.png)](https://www.bankless.com/the-bankless-guide-to-magic-eden)This week, Magic Eden turned heads with its [ME token](https://www.bankless.com/magic-eden-token) announcement. 

The NFT marketplace has had a crazy run challenging OpenSea's dominance, and we've been following along with it every step of the way. If you're new to the project, there's never been a better time to check it out than through our latest update to the [Magic Eden Bankless Guide](https://www.bankless.com/the-bankless-guide-to-magic-eden).

*Check out the free guide* 👇

[See The Guide](https://www.bankless.com/the-bankless-guide-to-magic-eden)
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