Overview

Bitcoin is oscillating around $60,000, while the altcoin market is showing signs of recovery and stability, with the market awaiting the next major movement. Following Grayscale’s announcement of the MKR Trust product, MKR saw a short-term surge of nearly 6%.

Daily Macro

Bitcoin Market Bitcoin’s price is fluctuating around $60,000. Ethereum reached a high of $2,750, but is now consolidating after encountering key resistance.

Bitcoin ETF On August 14, initial reports indicated a net inflow of $39 million into U.S. Bitcoin spot ETFs the previous day.

Ethereum ETF On August 14, initial reports indicated a cumulative net inflow of $25 million into U.S. Ethereum spot ETFs the previous day.

Macroeconomic Data The U.S. reported a July PPI annual rate of 2.2%, below the forecasted 2.3% and previous 2.7%. The monthly PPI rate for July was 0.1%, in line with forecasts and the previous rate. Following the data release, the U.S. dollar index (DXY) briefly dropped and is now at 102.6.

Daily Focus

MKR

Reason for Focus: Grayscale’s announcement of the MKR Trust product led to a 6% increase in MKR’s price, peaking at $2,150, with the current price at $2,120.

Market Outlook:The launch of the MKR Trust product by Grayscale may continue to boost MKR prices in the short term as investor confidence in Grayscale’s backing strengthens. In the long term, MKR’s price trajectory will depend on several factors. The inclusion of MKR in Grayscale’s portfolio could enhance its market recognition and mainstream acceptance. This long-term institutional support could help MKR maintain steady growth. However, since the trust is a closed-end fund, price deviations from its net asset value (NAV) might occur in the long term, affecting secondary market arbitrage prices. Additionally, MKR’s long-term performance will also depend on the development of the MakerDAO ecosystem.

Next Focus

Pump.fun

Reasons for Focus:The Solana-based meme coin issuance platform Pump.fun has accumulated over $94 million in revenue, currently at $94.37 million. Additionally, Pump.fun’s revenue reached $5.33 million yesterday, setting a new record.

How to Participate: As the most popular meme issuance platform with no entry barriers, users can link their wallets to participate. However, only about 1% of the tokens can enter DEX. Users should conduct their research and be cautious when engaging with KOLs promoting tokens on social media.

CoinEx Daily: Bitcoin Oscillated Around $60,000; Grayscale Launches MKR Trust Fund