Overview

Today, the cryptocurrency market is diversifying, with the capitulation of Bitcoin miners continuing and the market pricing in a possible 25 basis point rate cut in September, with a probability of 71.8%. BlackRock, Invesco Galaxy, and iShares have all submitted application documents for the Ethereum spot ETF. In the future, we will pay attention to the Ai&depin project, and many projects will launch new functions and upgrade plans.

Daily Macro

Bitcoin Market CryptoQuant CEO said that the capitulation of Bitcoin miners continues, and the encryption market is expected to be relatively flat in the next 2-3 months. BTC price quickly pulled back after hitting $58,500, showing that uncertainty remains in the market.

Macroeconomic Data Federal Reserve Chairman Powell said that he would not send a signal on the timing of future policy actions and that more good inflation data is needed to cut interest rates. The market expects that there may be a 25 basis point interest rate cut in September, with a probability of 71.8%. These factors can affect the overall trend of the cryptocurrency market.

Daily Focus

Major developments in Ethereum ETF and some leading projects

Reason for Focus: BlackRock, Invesco Galaxy and iShares have all submitted application documents for Ethereum spot ETFs, increasing expectations for ETH ETF approval. At the same time, multiple projects such as Solana, Arkham, Storj, etc. have made significant progress.

Performance of Related Tokens:

$ETH: ETF application progress could push prices higher
$SOL: Full Firedancer client builds first block on testnet
$ARKM: Plans to expand into TON and Solana ecosystems
$STORJ: Acquires GPU computing company Valdi
$ARB: Layer 2 stablecoin market value exceeds US$4 billion

Market Outlook: The progress of the Ethereum ETF application may drive up the price of ETH and may drive the entire cryptocurrency market. The development of Layer 2 solutions and cross-chain ecosystems shows the innovative direction of the industry, and investors should pay attention to the potential impact of these developments on the market.

Next Focus

AI & Depin Project

Reason for Focus: Multiple projects have launched new features and upgrade plans, such as Masa launching an AI data subnet on Bittensor, and Worldcoin Foundation launching a developer preview version of World Chain.

Related Assets:

$TAO & $MASA - May benefit from new AI data subnet
$WLD - World Chain developer preview may increase attention

How to Participate: Participate in Masa’s AI data subnet incentive program and follow the latest developments of Worldcoin.

CoinEx Daily:Bitcoin Miners' Capitulation Continues, the Market is Pricing in a Possible Rate Cut