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Ethereum climbed 1.7% to $4,277.78 on Monday, extending its recent winning streak but market opinions remain sharply divided on how long the momentum can last.
Bitcoin is nearing a potential breakout as retail traders overtake whales in the futures market, while Ethereum contends with high leverage despite record-setting institutional inflows.
Global crypto exchange-traded products (ETPs) recorded $572 million in inflows during the trading week ending Friday, according to data from European digital asset manager CoinShares.
A yet-to-be-identified institutional player has been on a massive Ether (ETH) buying spree, scooping up 221,166 ETH over the past week as the world’s second-largest cryptocurrency rallied 21%.
The LayerZero Foundation has proposed acquiring cross-chain liquidity protocol Stargate in a $110 million deal that would see Stargate’s token (STG) swapped for LayerZero’s native token (ZRO).
SHIB’s holding time drops, signaling bearish sentiment, as the token risks falling below $0.00001295.
- 05:44Fed Chair Powell May Signal a Gradual Rate Cut StrategyAccording to ChainCatcher, citing Jinshi News, PGIM Chief Global Economist Daleep Singh stated in a report that Federal Reserve Chair Jerome Powell may signal a more gradual rate cut strategy at the Jackson Hole meeting. Last week’s US CPI and PPI data showed that inflation in the US remains stubborn, staying above 3%. PGIM expects the Fed to cut rates by a total of 100 basis points by next year, which is about 50 basis points less than current market expectations.
- 05:31Opinion: LP Set by YZY Developers Can Lead to Hidden Trader Fees of 4-5% Due to Excessive Tick SpacingAccording to a report by Jinse Finance, crypto KOL @0xBiZzy stated that the LP set up by YZY developers earned nearly $10 million in fees within just a few hours. More notably, the LP Bin Step (price range) was set excessively high at 100, instead of the usual 50, resulting in an implicit fee rate of 4-5% for traders. This means that the total cost for traders to fully enter and exit amounts to approximately 10%.
- 05:31Institutions: Fed Chair Powell Likely to Remain Neutral at Jackson HoleAccording to Jinse Finance, Blerina Uruci, Chief U.S. Economist at T. Rowe Price, stated that Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole meeting may emphasize maintaining maximum flexibility for the upcoming FOMC meetings, noting that the policy path will depend on inflation and labor market data. She pointed out that before the Federal Reserve meeting on September 17, there will be one more employment report and one more CPI report released. If inflation rises sharply or the labor market shows a strong recovery, it is more likely that rates will remain unchanged at the next meeting; if August employment growth falls below 50,000 per month and the unemployment rate rises, a dovish rate cut of 50 basis points may occur. (Jin10)