Key Takeaways
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Macro Environment: U.S. August CPI rebounded slightly but met market expectations, showing that inflation remains under control. Combined with a rapidly cooling labor market, initial jobless claims hit a four-year high, and the market is pricing in three rate cuts within the year. The three major U.S. stock indexes all hit record highs.
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Crypto Market: After the release of the CPI data, there was market speculation; Bitcoin showed wicks up and down, then rebounded in sync with U.S. stocks, closing up 1.33%. The market share of altcoins increased slightly by 0.13%, with Bitcoin’s rebound driving a broad rise among altcoins. ETH and SOL performed strongly.
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 6,597.48 | +0.85% |
| NASDAQ | 22,043.07 | +0.72% |
| BTC | 115,469.00 | +1.33% |
| ETH | 4,458.88 | +2.52% |
Crypto Market Fear and Greed Index: 57 (54 24h ago), level: Greed
Today’s Watchlist
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U.S. September one-year inflation expectations (preliminary)
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U.S. September University of Michigan Consumer Sentiment Index (preliminary)
Project Highlights
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Hot Tokens: SOL, PUMP, ONDO
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SOL: Forward Industries completed $1.65 billion in financing to purchase SOL; Multicoin, Jump Crypto, and Galaxy each invested over $100 million in SOL treasury company Forward Industries; U.S. DTCC has now listed FSOL, HBR, and XRPC
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PUMP: Multiple leading exchanges launched spot trading pairs
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AVAX: Avalanche plans to raise $1 billion to establish a treasury company to purchase AVAX at a discount
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SEI: U.S. Department of Commerce data will soon be connected to the Sei network
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ONDO: Ondo Global Markets TVL has surpassed the total of all competitors
Macro Economy
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U.S. August unadjusted CPI YoY recorded at 2.9%, in line with expectations and higher than the previous value; U.S. August unadjusted core CPI YoY at 3.1%, in line with expectations
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U.S. initial jobless claims reached 263,000 last week, the highest level in nearly four years
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Traders fully price in three Federal Reserve rate cuts by the end of 2025
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The U.S. Senate will hold a full vote on Milan’s Federal Reserve nomination next Monday
Industry Highlights
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BlackRock plans to tokenize its funds holding real-world assets and stocks
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Wall Street is offering high salaries to recruit stablecoin talent
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Chinese e-commerce platform Mogu Street invested in mainstream cryptocurrencies in Q2 and adopted digital assets to promote decentralized AI development and fund management. Its U.S.-listed stock surged 200% pre-market
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Strategy currently holds 3% of total Bitcoin supply
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Native Markets has obtained 71.88% staking support in the USDH bidding process
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Study Times published an article “The Technical Principles and Trust Logic of Stablecoins,” stating that “stablecoins are gradually integrating into the mainstream financial system”
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