According to Jinshi, in his speech on July 2, Fed Chairman Powell avoided the question of whether the Fed would start cutting interest rates in September. He emphasized the two-way risks of monetary policy, believing that cutting interest rates too early could reignite inflationary pressures, while if the rate cuts were too late, the Fed could cause unnecessary damage to the economy. The market currently expects the probability of a rate cut by September to be about 70%.
Richard Teng, CEO of Binance, wrote on the X platform that Turkey's approval of a new legislative framework for cryptocurrencies and crypto asset service providers marks a positive step forward for the crypto industry. Binance will closely monitor regulatory developments in Turkey and other regions and firmly support these developments. Binance will also continue to work with regulators to create a safe and compliant crypto ecosystem for users.
● Santiment: Crypto market outlook optimistic in July
According to ChainCatcher, crypto intelligence platform Santiment said that the outlook for the crypto market in July is worth being optimistic. After a large number of small traders withdrew, the negative sentiment of the crowd and the average loss of traders meant that the market rebound may have just begun.
According to ChainCatcher, Grayscale Research said in its latest article that in June, sustained and expected selling pressure from various sources weighed on Bitcoin and the broader cryptocurrency market, including the Mt Gox bankruptcy estate, the U.S. government, and Germany The government's selling of Bitcoin, as well as the outflow of funds from the US spot Bitcoin ETP, etc. However, it believes the fundamentals of the asset class have not changed significantly. There seems to be more progress being made with the listing of a spot Ethereum ETP. While the exact timing is uncertain, Grayscale Research believes the products will begin trading in the third quarter of 2024. Unless the macroeconomic outlook changes significantly, cryptocurrency valuations are expected to recover in the coming months.
According to Odaily Planet Daily, Eric Balchunas, senior analyst at Bloomberg ETF, said that Bitcoin ETF achieved net positive flows in a single day, a single week, and a single month. It was originally thought that the situation would be earlier during the market decline, but during this period, the net flow from the beginning of the year to date has stabilized at +14.6 billion, which is a good sign. Bitcoin ETF remains strong in the "pullback" stage.
● CMC 2024 H1 Report: Meme Coin Becomes the Most Popular Cryptocurrency Category
According to Odaily Planet Daily, according to the 2024 H1 report released by CMC, Meme coins have become the most popular category in cryptocurrencies for the first time, subverting the previously dominant smart contracts, DeFi and NFT narratives. Meme coins accounted for 22.49% of CMC page views, exceeding 25 million times in June; followed by Solana ecology, accounting for 14.56%.
● Bittensor is investigating the wallet attack and suspending on-chain transactions for 24 hours
According to BlockBeats, on July 3, Bittensor officially responded that its wallet had been attacked, and an investigation was underway, and all on-chain transactions had been suspended until more information about the nature of the attack was obtained. The chain is now in safe mode for at least 24 hours, and all transactions (including transfers) are now suspended. Bittensor will not release any regular software updates or any chain updates on the mainnet or testnet until the chain is fully restored online.
● Ethereum Foundation email account hacked, phishing emails sent to nearly 36,000 people
According to ChainCatcher, the Ethereum Foundation's email account was hacked, and phishing emails were sent to 35,794 people, recording the email addresses of 81 subscribers. The email falsely claimed that the Foundation was working with LidoDAO to provide a 6.8% return on staking Ethereum. If the user clicked the link in the email and approved the transaction, their wallet would be emptied.
The Foundation quickly blocked the malicious emails, closed the attack path, and issued a warning to the relevant parties. The investigation showed that although the attackers obtained some new email addresses, no victims lost funds in this attack.
