According to BlockBeats, the number of initial unemployment claims in the United States for the week ending November 9 was 217,000, the lowest since the week ending May 18, 2024, with expectations of 223,000 and a previous value of 221,000.
● US PPI monthly rate in October was 0.2%, in line with expectations
According to BlockBeats, the monthly rate of PPI in the United States in October was 0.2%, in line with expectations, and the previous value was revised from 0% to 0.1%. The annual rate of PPI in the United States in October was 2.4%, higher than the expected 2.3%, and the previous value was revised from 1.8% to 1.9%.
According to Jinshi Data, Federal Reserve Chairman Powell said that interest rates are expected to fall further, but the decline may not be large in the next few months. He pointed out that economic trends and dynamics are expected to remain unchanged in the short term, including a slowing job market and cooling inflation. Powell said that maintaining high interest rates may push up the unemployment rate, and said that "over time, we will shift policy to a more neutral level."
● Market news: US SEC Chairman hints at possible resignation, XRP rises in the short term
According to Odaily Planet Daily, market sources said that Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), hinted that he might resign. Influenced by this news, XRP rose in the short term, with a 24-hour increase of more than 16%.
● The U.S. Congress may advance a stablecoin bill before the end of the year
According to DLNews, the U.S. Congress may advance a stablecoin bill during the "lame duck" session. Both parties in Congress are interested in promoting a stablecoin bill due to new global regulations and financial companies entering the field.
There are about $170 billion worth of stablecoins in circulation worldwide, 98% of which are pegged to the U.S. dollar. Failure to regulate the field could leave the U.S. behind. Democrats and Republicans on the House Financial Services Committee have been working on a stablecoin bill for years.
The Republican version of the bill has passed committee but has not advanced to the House floor, where Republican chairman Patrick McHenry may be looking to score a policy victory before retiring.
Sherrod Brown, chairman of the Senate Banking Committee, said he would pass the bill if it were submitted. Treasury Secretary Janet Yellen has repeatedly said that Congress should provide a federal basis for stablecoin regulation. Republicans want state regulation, while Democrats prefer federal regulation. Another bill worth watching is the FIT21 Act, which aims to create a regulatory framework for cryptocurrencies.
● Pennsylvania House of Representatives proposes Bitcoin as a reserve asset
According to BlockBeats, on November 14, Fox Business reporter Eleanor Terrett published an article on X revealing that the Pennsylvania House of Representatives has proposed legislation to allow the state to use Bitcoin as a reserve asset on its balance sheet. This move is intended to more broadly recognize Bitcoin as a means of storing value.
According to DeepChao TechFlow, on November 14, CryptoRank data showed that among the top five narrative tracks with market value performance since the beginning of the year, Meme coins have significantly outperformed RWA and AI assets in terms of returns. PolitiFi assets that performed equally well are actually also politically themed meme coins. The top five narrative tracks by market capitalization also include prediction markets.
● VanEck predicts that the target price of BTC in this cycle is $180,000
According to Odaily Planet Daily, asset management giant VanEck said the target price of Bitcoin in this cycle is $180,000.
● Solana on-chain DEX daily trading volume market share reached 42.46%, a record high
According to TechFlow, on November 14, Solana Floor disclosed that the daily trading volume of decentralized exchanges (DEX) on the Solana chain reached 42.46%, setting a record high. Ethereum ranked second, accounting for 17.45%, and BNB Chain ranked third, accounting for 12.58%.
