Ooki Market Watch for May 26, 2022

Ooki Market Watch for May 26, 2022

Community Contributor
Community Contributor

Fed minutes, housing numbers, and more

In this weeks Ooki market watch we are covering the FOMC meeting minutes held on May 25th. During the meeting, officials reiterated plans to move ahead with multiple 50 basis points interest rate increases during the next few meetings.

On May 24th, the U.S Census released new home sales numbers and the numbers were lower than the prior year. Sales of newly built homes dropped 16.6% in April from March, and were down 26.9% from April 2021, according to the U.S. Census. The slowdown was attributed to the combination of higher prices and increased interest rates.

Current Ooki Interest Rates

Ooki offers the best stablecoin interest rates. As of the time of writing, the lending rates on Ooki are a great way to generate yield in the current market environment. With lending rates at high as 11% for USDT, and 91% for Frax on Arbitrum. Finding comparably high yield opportunities elsewhere is unlikely.

APE Tokenholders

For current APE token holders, Ooki offers an excellent opportunity to borrow or lend out your APE holdings. For users who aren't familiar with how this works.

If you're an APE tokenholder, you can easily lend out your APE and earn 16% interest. ย So if you have APE sitting idly in your wallet, this is a great opportunity to use it to generate cashflow.

For borrowers, you can easily use APE sitting in your wallet in order to borrow a stablecoin. Then use that stablecoin in order to generate yield from stable farming.

Ookiversity Updates

Ookiversity: Common Chart Patterns
Chart patterns are crucial to every caliber of investor as they show market trends and predict movement. They are essential in performing technical analysis. Traders can use chart patterns to make informed decisions about their cryptocurrency investments. Market patterns may sometimes contain predicโ€ฆ

Overall Market

๐Ÿ“‰ ETH - $1960

Ethereum's average fees have been trending downwards, and yesterday were at $2.54 per transaction, the lowest cost level since July 2021.

๐Ÿ“‰ BTC - $29692

๐Ÿ“‰ UNI - $5.5

๐Ÿ“‰ VVIX has fallen to 98

Upcoming Market Events scheduled this week

  • Initial Jobless Claims - May 26 at 8:30am EST
  • Core PCE Inflation - May 27 at 8:30am EST
  • Real Disposable Income - May 27 at 8:30am EST
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