The crypto market is on the rise again!
Last night, Federal Reserve Chairman Powell delivered his semi-annual monetary policy testimony in the U.S. Senate, answering questions on monetary policy and bank supervision, with two key points.
First, the US CPI. From the perspective of CPI, the US CPI in May dropped to 3.3%, which is still some distance away from 2%. The June CPI will be announced on Thursday, which will be very important. Now the market generally expects that the US CPI will continue to fall, which is more favorable for interest rate cuts.
Second, the employment data. Judging from the just released U.S. employment data, although it exceeded expectations, the data for April and May were revised downward, so the market generally feels that this employment data is quite inflated. And from the salary data, we can also see that the U.S. job market has slowed down. The unemployment rate has also risen to 4.1%.
When will the Fed cut interest rates?
In fact, it is only a matter of time before the US cuts interest rates. The US is now in a debt situation of 35 trillion US dollars, and the annual interest payment is 1.7 trillion US dollars, accounting for 20% of fiscal revenue. Once the Fed cuts interest rates, it means that the global liquidity tightening in the past three years will begin to reverse. The global financial environment will also improve as a result, and BTC will have great opportunities. The bull market is still alive!
Recommend several altcoins that can be invested in for the long term
1.SUN
Solana's on-chain DEX had a trading volume of over $2.4 billion yesterday, ranking first for three consecutive days. DeFiLlama data shows that Solana's on-chain DEX had a trading volume of $2.411 billion on July 8, ranking first for three consecutive days. In addition, Ethereum's on-chain DEX had a daily trading volume of $2.182 billion, ranking second; BSC's on-chain DEX had a daily trading volume of $1.758 billion, ranking third.
SOL (Solana) is a high-performance blockchain platform known for its fast transaction speed and low fees. Solana uses a unique consensus mechanism, Proof of History, which enables it to process thousands of transactions per second, far exceeding traditional blockchain platforms such as Ethereum. This technical advantage makes SOL have broad application prospects in fields such as DeFi (decentralized finance) and NFT (non-fungible tokens). Therefore, in the long run, SOL has the potential for long-term fixed investment.
2.BNB
BNB (Binance Coin) is the native token of Binance Exchange, and its value is closely related to the prosperity of Binance Exchange. As one of the world's largest cryptocurrency exchanges, Binance has a large user base and rich trading products, providing solid support for BNB.
In addition, BNB also plays a variety of roles in the Binance ecosystem, such as paying fees, participating in IEO (Initial Exchange Offering), etc., which further enhances its value and practicality. Therefore, BNB is also one of the altcoins worth investing in for the long term.
3.TON
TON (Telegram Open Network) is a blockchain platform developed by the well-known instant messaging application Telegram. TON aims to create a decentralized Internet ecosystem and provide efficient, secure and scalable blockchain services. TON's technical team is strong, with rich technical accumulation and innovation capabilities, which provides a strong guarantee for the development of TON.
In addition, TON has also received support from Telegram's huge user base, laying a solid foundation for its future development. Therefore, TON is also one of the altcoins that investors should pay attention to for long-term fixed investment.
4. BABY
PEPE (PEPE Cash) is a digital currency project that focuses on privacy protection. In the field of digital currency, privacy protection has always been a hot topic. PEPE Cash uses advanced privacy protection technologies, such as zero-knowledge proof and homomorphic encryption, to provide users with a more secure and private transaction experience.
This technical advantage makes PEPE Cash competitive in the digital currency market and also provides a broad space for its future development. Therefore, for investors who focus on privacy protection, PEPE Cash is a worthy long-term investment option.
5.WIF
BONK and WIF are two emerging altcoins that have attracted much attention recently. Although they have a small market value, they have shown strong vitality and development potential with their unique technical features and community support. For example, BONK adopts an innovative incentive mechanism and community governance model, which has attracted the attention and participation of a large number of investors.
WIF is committed to building a decentralized social media platform to provide users with a freer and more open social experience. Although these emerging altcoins have certain risks, they also have huge investment opportunities and potential.
6. ENS
ENS is not an actual altcoin, but a nickname used to represent the Ethereum Non-Name Service (ENS). ENS is a decentralized domain name system on Ethereum, similar to the DNS (Domain Name System) on the traditional Internet.
However, unlike ENS, NOT ENS may represent an exploration and attempt of a domain name system similar to ENS on other blockchain platforms. Although this exploration and attempt is full of uncertainty and risks, it also provides investors with new investment opportunities and ideas.
