Coinex Daily：Federal Reserve Official Open to Rate Cut in September; Cat-themed MEME Sector Rebounds

Overview

The cryptocurrency market continues to experience volatility, significantly impacted by fluctuations in the stock market. Bitcoin and Ethereum remain in the spotlight, while the SEC's approval of Ethereum ETFs by Grayscale and Proshares brings new expectations to the market. On the macroeconomic front, Federal Reserve Governor Waller has shifted his stance, showing openness to a rate cut in September. Additionally, various market rumors and project developments keep investors on their toes.

Daily Macro

Bitcoin Market Bitcoin prices continue to experience high-level fluctuations, though they are slightly weakened by the downturn in the stock market. The market is highly sensitive to changes in macroeconomic data, especially adjustments to Federal Reserve interest rate policies. Currently, Bitcoin remains a safe-haven asset for global investors, with its market performance closely linked to global economic trends.

Ethereum ETF The SEC has approved the listing of Ethereum ETFs by Grayscale and Proshares on NYSE Arca. This decision is expected to have a profound impact on the market. Investors are keenly watching the inflow and outflow of these ETFs. The only missing piece is the fee information for the Proshares ETF, which, once disclosed, is anticipated to further boost market sentiment.

Daily Focus

Ethereum Sector

Reason for Focus:  Ethereum's recent surge is primarily driven by the SEC's approval of Ethereum ETFs. The listing plans of Grayscale and Proshares have significantly increased market interest in Ethereum, pushing its price higher.

Performance of Related Tokens:

• $ETH: Up approximately 10% over the past week.
• $UNI: Up approximately 12% over the past week.

Market Outlook: The future trajectory of Ethereum will depend on further approvals from the SEC and global economic changes. If the ETFs are successfully listed, it is expected to attract more capital inflows, driving prices higher. Additionally, progress in Ethereum 2.0 upgrades and ecosystem expansion will positively influence its future performance.

Cat-themed MEME Sector

Reason for Focus:  With the leading cat-themed MEME token on Solana, POPCAT, reaching new highs, other cat-themed MEME tokens are also experiencing significant rebounds, rekindling interest in this sector.

Performance of Related Tokens:

• $POPCAT: Up approximately 70% over the past week.
• $MICHI: Up approximately 107% over the past week.
• $NUB: Up approximately 50% over the past week.

Market Outlook: The cat-themed MEME narrative is gaining recognition on Solana, with many key opinion leaders (KOLs) promoting it on social media. Investors can follow relevant KOLs and join project Telegram channels to get a feel for the community atmosphere. Choosing a favorite cat-themed project could yield unexpected rewards.

Next Focus

Liquid Staking

Reason for Focus:  An SEC official has indicated that the "SEC is reconsidering the Ethereum staking ETF." If staking-related ETFs can gain approval, it will significantly boost market confidence and drive up related asset prices.

Related Assets: 

• $LDO, $RPL -  Leading projects in liquid staking are poised to benefit the most.