Original author: Koala, Mars Finance
Market News: US Vice President Harris will attend a campaign event in Farmington Hills at 8 p.m. ET on Thursday
According to market news, US Vice President Harris will attend a campaign event in Farmington Hills at 8 p.m. Eastern Time on Thursday.
Data: Hong Kong Monetary Authority cuts base rate by 50 basis points to 5.25%
The Hong Kong Monetary Authority cut its benchmark interest rate by 50 basis points to 5.25%. Earlier, the Federal Reserve announced a 50 basis point interest rate cut in the early hours of the morning.
"Federal Reserve Megaphone": The first 50BP rate cut marks a bold start to the rate cut cycle
Nick Timiraos, a Wall Street Journal reporter known as the "Fed's mouthpiece," said the Fed voted to cut interest rates by 50BP, the first rate cut since 2020, marking a bold start to the rate cut. Eleven of the 12 Fed voting members supported the rate cut, bringing the benchmark federal funds rate to a range of 4.75% to 5%. Quarterly forecasts released on Wednesday showed that most officials expect to cut interest rates by at least 25BP at meetings in November and December. The rate cut decision puts the Fed firmly into a new phase: trying to prevent last year's rate hikes (which pushed borrowing costs to a two-decade high) from further weakening the U.S. labor market.
Bitcoin's market capitalization rose to 58.47% of the total crypto market, the highest since April 2021
According to SolanaFloor, Bitcoin's market capitalization rose to 58.47% of the total crypto market, its highest level since April 2021.
Modular blockchain Hemi Labs completes $15 million financing, Binance Labs participates
Modular blockchain Hemi Labs has completed a $15 million financing round led by Binance Labs. Hemi Labs will use the funds to develop and launch the Hemi Network.
Borderless Capital Launches $100 Million DePIN Fund, Peaq, Solana Foundation and Others Join
Borderless Capital has launched its third DePIN fund, which is backed by $100 million. Investors in the fund include Peaq, a blockchain focused on DePIN, as well as Solana Foundation and Jump Crypto. Álvaro Gracia, partner at Borderless Capital, said: "DePIN will become a global standard for deploying physical infrastructure, coordinating human resources, and generating billions of dollars in passive income, while providing users with easy access and lower costs."
Source: British digital bank Revolut plans to launch stablecoin
On September 18, Coindesk cited sources as saying that Revolut, a London-based fintech company that provides cryptocurrency transactions, plans to issue its own stablecoin. (Revolut was valued at $45 billion earlier this year.) According to two people familiar with the matter, the company obtained a UK banking license in July and has made considerable progress in creating a stablecoin.
TOKEN2049 Conference Day 1 Focus: How to build a successful Web3 consumer application?
Polymarket attracted much attention on the first day of TOKEN2049. Founder and CEO Shayne Coplan participated in a roundtable discussion and discussed the future development direction of Web3 consumer applications with guests such as Founders Fund partner Joey Krug. Shayne Coplan believes that project parties should first build a core user base, understand product positioning, and find suitable distribution channels. Joey Krug said that sustainable market fit is the main criterion for investment, and the best founders have fast action, firm vision and outstanding capabilities. Successful cases in the consumer field have undergone multiple transformations, and the fit between founders and the market is also the key to success.
Cryptocurrencies could get a boost if the Federal Reserve cuts interest rates by 50 basis points, according to a hedge fund boss.
Asymmetric CEO Joe McCann believes that a 25 basis point rate cut by the Federal Reserve may cause cryptocurrencies to fall, but a 50 basis point rate cut may have a positive impact on risky assets such as cryptocurrencies. The market has digested the impact of the rate cut, but it may affect price breakthroughs. McCann questioned the view that a 50 basis point rate cut is bearish, believing that the current economy is stable and the rate cut is mainly to stimulate growth and reduce fiscal spending. The market is full of uncertainty about the Fed's interest rate decision.
Arthur Hayes on the Fed's rate cut: The market may suffer an unexpected shock
Arthur Hayes, co-founder of BitMEX, believes that the Fed should not raise interest rates, and huge government spending will lead to increased inflation. He believes that the USD/JPY exchange rate is the most important macroeconomic variable, and a decline in the USD exchange rate will lead to a decline in global markets. Bitcoin may be affected, but it will not decouple immediately. He predicts that Bitcoin may reach a price target of $1 million in 2026 or 2027. Hayes also talked about his interest in decentralized finance and introduced the wallet project he invested in and the Ordinal's Inscription series he launched. He hopes to inspire others to create more unique derivative works through these projects.
Let’s see who is better between the real and fake NEIRO. Let’s review the journey of Binance’s new coin NEIRO which increased 600 times in one month!
Binance exchange launched NEIRO token, with 24-hour trading volume of 500 million US dollars and market value hitting new highs. NEIRO and NEIROETH are from Ethereum, and they seem to be just capitalized, but the two communities are tit-for-tat, complaining that the other is a fake, and the crypto community is in turmoil. With Binance launching NEIRO and its contract, the dispute between the communities seems to have finally been resolved. This article will review the development of NEIRO in the past month.
Why are Korean gamers "both curious and resistant" to blockchain?
This article reveals the resistance and challenges of the Korean blockchain game market. Despite successful games, the P2E narrative stagnated after the LUNA collapse. Korean games must be classified before they can go online, and public attitudes have also shifted. Korean players have a negative view of game publishers and believe that token issuance is exploitative. Korean game laws have restrictions on P2P transactions and RMT, and there are many young investors, but they are sensitive to the collapse of the P2E model. South Korea is still an attractive market, but the competition is fierce and the ARPPU is high. The core users are 30-40 years old males who are numb to community noise but have fewer objections to blockchain games. Players support RMT but are worried about government regulation. South Korea still needs to solve legal and token control issues.
