According to Jinshi, U.S. producer prices rose less than expected in July, highlighting the continued easing of inflationary pressures. Data released on Tuesday showed that the PPI index, which represents final demand, rose 0.1% from the previous month. The median forecast of the agency's survey of economists was an increase of 0.2%. In addition, compared with a year ago, the PPI rose 2.2%. Excluding the volatile food and energy categories, the PPI in July was flat from the previous month, the mildest reading in four months. The more closely watched CPI data will be released on Wednesday, and the index is expected to show a small increase. Against the backdrop of fading inflationary pressures, weak employment data in July prompted economists to expect the Federal Reserve to start a series of interest rate cuts from next month.
● Bitcoin holders return to HODLing mode, and the market shows a cumulative trend
According to BlockBeats, on August 14, glassnode said that Bitcoin holders are returning to HODLing and hoarding mode after months of selling pressure. Spot market activity shows that seller pressure has not completely subsided.
● Tether and Circle issued nearly $2.8 billion in stablecoins last week, which may drive Bitcoin up
According to Odaily Planet Daily, 10x Research said that early last week, Tether and Circle issued nearly $2.8 billion in stablecoins, indicating that some institutional investors are injecting new funds into the crypto market. If this trend of issuance (not just minting) continues, Bitcoin may rise further.
● Analysis: Mt.Gox creditors' repayment may be nearing completion
According to Odaily Planet Daily, according to Arkham Intelligence data, a wallet that may belong to BitGo received about $2 billion worth of Mt. Gox bitcoins, and the wallet has now transferred most of the funds to a separate wallet, a move that may indicate that the repayment of Mt. Gox creditors is finally coming to an end. For most of July, Mt. Gox has been transferring billions of dollars worth of bitcoins to designated cryptocurrency exchanges, including Bitbank, Kraken, Bitstamp and SBI VC Trade, which are responsible for distributing the relevant BTC to Mt. Gox creditors.
● Bitcoin ranks sixth among global monetary assets, with a size of $1.19 trillion
According to Odaily Planet Daily, data disclosed by Bitcoin Magazine shows that among global monetary assets, Bitcoin currently ranks sixth with a scale of 1.19 trillion US dollars.
● Grayscale launches Grayscale MakerDAO Trust
Asset management company Grayscale has launched a new fund focused on MakerDAO governance tokens, according to PANews. The new closed-end fund, Grayscale MakerDAO Trust, will be open to qualified individuals and institutional accredited investors. Similar to the company's other single-asset trusts, the fund does not allow direct withdrawals, which may lead to deviations between the price of fund shares in the secondary market and the price of the underlying assets. Maker is one of the largest protocols in the DeFi space, managing more than $7 billion in cryptocurrencies and real-world assets and issuing a $5 billion stablecoin, DAI. Recently, Grayscale also launched single-asset funds for Bittensor's TAO tokens and Layer-1 blockchain Sui (SUI), as well as a fund that invests in cryptocurrencies for decentralized AI projects.
