Europe has already started to cut interest rates, and many investors are beginning to expect a rate cut in September, and there will be two rate cuts this year. But in fact, what will really drive the U.S. stock market this year should be the general election. The general election is the key to truly driving risky assets, so the fourth quarter of this year is still very important. Tonight's non-farm data should show instantaneous fluctuations. If it is higher than expected, it will be bad news, otherwise it will be good news.
The data of Bitcoin ETF on June 6 was not very good. GBTC and ARKB both had significant outflows. BlackRock's IBIT had an inflow of US$300 million, with a total net inflow of US$215 million, or 3,035 bitcoins.
Ethena announced its integration with Aave, where users can deposit USDe on the Aave protocol and recycle their positions with other stablecoins on Aave. At the same time, stETH, weETH, ETH, and WBTC can also be deposited on Aave to borrow Ethena USDe or sUSDe. The addition of AAVE's lending link is definitely good for USDe and ENA. Making stablecoin liquidity more sufficient is what stablecoins need most. If it is just pledged to earn interest, it will become LUNA. But at the same time, there is an additional layer of leveraged dolls for lending, and risk and return coexist.
The AXL Foundation, together with traditional financial giants such as Citibank, Deutsche Bank, and Mastercard, released a joint research report titled "Institutional Interoperability: How Financial Institutions Navigate a Multi-Chain World", which mainly explores how to improve the accessibility and liquidity of tokenized assets while also being flexible, private, transparent, and scalable. It is worth noting that Deutsche Bank recently announced a partnership with Interop Labs to use Axelar to develop interoperable blockchain projects. Indeed, the scalability and interoperability of early blockchains were a technical barrier. The emergence of AXL and L0 are both good projects to solve these barriers. Once the meridians are unblocked, martial arts will naturally succeed.
Wormhole has launched the staking governance function, Stake For Governance, which is now online. W token holders need to cross-chain W to the EVM chain and stake tokens to participate in governance. At the same time, as a security feature of Wormhole Guardian, the daily transfer limit of W tokens from Solana to the EVM chain is 100 million. A while ago, there was an unwritten saying that when tokens are not staked, the price of the coin will peak?
Market Interpretation
I think the big cake will not be affected too much by the non-agricultural data today. The right side of this wave has completely come out. The non-agricultural data is likely to be an instantaneous fluctuation, so buying at low levels is still the main idea. The 71000-72000 heavy pressure range will be passed for the fifth time. The sixth sense of men reappears! It is very likely that a big one is coming, and it won’t be long before we can see the beginning of 8.
I won’t mention Erbing anymore. He came back yesterday and started going his old ways again.
In terms of copycat assets, the Bitcoin ecosystem is probably the most worthwhile to invest in right now. Most of them have already adjusted back sufficiently and are in a relatively middle or low area. Moreover, with the subsequent emergence of Babylon, the surge in Bitcoin should drive up the Bitcoin ecosystem.
Today's Bitcoin Fear Greed Index: 77 (Greed)
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