The second half of the year will be centered around the election. In addition to the Fed's interest rate cut expectations, there is no other major narrative in the market.

Old funds in the market are unwilling to take over VC unlocked coins. VC unlocked coins can only wait for new funds to flow in after the interest rate cut to drive the rise. Funds will continue to flow into meme, PEOPLE meets the needs of narrative and full circulation.

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