1.QCP: The volatility of the crypto market increased after the decline, and the FOMC meeting and Token2049 attracted market attention
QCP noted that the second assassination attempt on Trump coupled with the liquidation of $70 million in long positions led to a decline in crypto markets. Unlike the rally after a similar event in July this year, there may be uncertainty this week, especially with the Token2049 event and the upcoming FOMC meeting. Market expectations for a 50 basis point rate cut rose to 59%, triggering increased volatility, with BTC and ETH's implied volatility rising 8% and 20% respectively on Friday.
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2. Binance founder CZ will be released from prison next week
CHANGPENG ZHAO, a 47-year-old Asian man, will be released on September 29, 2024, with the registration number: 88087-510. Previously, Richard Teng, CEO of Binance, confirmed that CZ will be banned from operating and managing Binance for life, but on the other hand, CZ is obviously the largest shareholder and will retain all shareholder rights.
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3.ETH/BTC exchange rate fell below 0.04, hitting a new low since April 20, 2021
Binance market shows that the ETH/BTC exchange rate fell below 0.04, hitting a new low since April 20, 2021, temporarily reported at 0.03942. The exchange rate reached a historical high of 0.1238 in January 2018 and a historical low of 0.01615 in September 2019.
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4. He Yi: Binance has no intention to guide the trend towards Meme
There are roughly three types of projects in the market at present: 1) TG mini-games, which have many coin holders; 2) A large number of infrastructure projects and other coin issuances, which are all highly valued VC coins; 3) Memecoin is the only hot coin in the market. The previous contract did follow the trend and launched NEIRO. The community reported that Meme was becoming a currency, so it took some time to find some projects with relatively low market capitalization and dispersed coin holdings to test the waters; 4) For other types of projects, we also keep observing. If you think there are coins that you think are particularly good, you are welcome to recommend them. However, Binance is a trading platform and will try to provide a variety of tokens that the market needs, but investment is risky, so I hope everyone will DYOR as much as possible before buying and selling.
5. The U.S. SEC strengthens its review of Binance token listing and trading processes
The U.S. SEC has placed Binance’s token listing and trading processes under closer scrutiny in its proposed amended complaint. The SEC questioned Binance’s compliance in these processes, pointing out that it may be at risk of not complying with securities regulations. The document similarly details Binance Simple Earn and 10 digital assets (SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI) that were allegedly sold on the Binance platform as unregistered securities.
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6. Wu said this week's macro indicators and analysis: Super central bank week, Federal Reserve interest rate decision
summary
Last week, the U.S. August unadjusted CPI annual rate was 2.5%, lower than expected, and the European Central Bank cut interest rates by 25 basis points. This week marks the super central bank week, with the focus on the Federal Reserve's interest rate decision, and whether it will be a 50 basis point or 25 basis point cut will soon be decided.
Last week review
Japan's second quarter real GDP annualized quarterly rate revised to 2.9%, expected to be 3.20%, and the previous value was 3.10%.
China's CPI annual rate in August was 0.6%, expected to be 0.70%, and the previous value was 0.50%.
China's M2 money supply annual rate in August was 6.3%, in line with expectations of 6.20% and the previous value of 6.30%.
The U.S. unadjusted CPI annual rate was 2.5% in August, lower than the expected 2.6% and the previous value of 2.90%. It was the fifth consecutive month of decline and the lowest level since February 2021.
The ECB decided to cut the deposit facility rate (DFR), one of the three major interest rates in the euro area, by 25 basis points (bp) to 3.50%, and to cut the main refinancing rate (MRO) and marginal lending rate (MLF) by 60bps to 3.65% and 3.90% respectively.
The number of first-time applications for unemployment benefits in the United States in the week ended September 7 was 230,000, compared with expectations of 227,000 and the previous value of 227,000.
The annual rate of PPI in the United States in August was 1.7%, in line with expectations of 1.8%. The previous value was revised from 2.2% to 2.1%.
The initial forecast for the US one-year inflation rate in September was 2.7%, the expected rate was 2.70%, and the previous value was 2.80%.
The preliminary reading of the University of Michigan Consumer Confidence Index in September was 69, expected to be 68.3, and the previous value in August was 67.9.
This week's key events & indicators
September 19
US Federal Reserve interest rate decision (upper limit) until September 18 (02:00)
Federal Reserve Chairman Powell holds a monetary policy press conference (02:30)
UK central bank interest rate decision until September 19 (19:00)
Number of initial jobless claims in the United States for the week ending September 14 (10,000 people) (20:30)
Bank of Canada releases monetary policy meeting minutes (01:30)
September 20
Japan's central bank target interest rate (upper limit) until September 20 (11:00)
