Daily News | New Public Chain SUI Hit a New Historical High, Altcoins Rebounded Significantly after the Release of CPI Data
Crypto Daily Digest: BlackRock and Fidelity made large purchases of ETH, RSC surged by over 20%
According to Farside Investor data, yesterday’s net inflow from the US spot BTC ETF was $223 million. Fidelity FBTC had a net inflow of $121 million, Ark ARKB had an inflow of $52.7 million, and BlackRock ETHA data has not been updated yet.
Yesterday, the US Ethereum spot ETF inflow was $27.8 million. The net inflow of gray ETH was $13.4 million, and the BlackRock ETHA data has not been updated yet.
BlackRock and Fidelity ETFs purchased ETH worth $500 million in the past two days
According to ARKM monitoring, spot Ethereum ETFs under financial giants BlackRock and Fidelity have purchased $500 million worth of ETH in the past two days, primarily through Coinbase or its institutional oriented crypto service platform Prime.
Nature journal reported DeSci project ResearchHub, RSC rose nearly 20% in 24 hours
One of the most cited scientific journals in the world, “Nature”, has just reported on ResearchHub. In an article published in December 11, “Nature” introduced ResearchHub’s platform, which pays the equivalent of $150 in cryptocurrency to peer reviewers who independently review new research papers. According to Gate.io market data, RSC rose over 20% in 24 hours and is now quoted at $1.00.
Analysis: The US CPI in November saw its largest increase in seven months, but it is unlikely to prevent the Fed from cutting interest rates next week
The US Consumer Price Index recorded its largest increase in seven months in November, but against the backdrop of a cooling job market, this is unlikely to prevent the Federal Reserve from cutting interest rates for the third time next week.
The data shows that the CPI rose by 0.3% month on month last month, the largest increase since April, after the index rose by 0.2% for four consecutive months. The year-on-year growth rate of CPI increased by 2.7% after rising by 2.6% in October. Compared to the peak of 9.1% in June 2022, the year-on-year growth rate of inflation has significantly slowed down.
However, in recent months, the process of lowering the inflation rate to the Federal Reserve’s 2% target has actually come to a halt. However, the Federal Reserve is now more focused on the labor market. Although employment growth accelerated in November after being severely disrupted by strikes and hurricanes in October, the unemployment rate accelerated to 4.2% after remaining at 4.1% for two consecutive months.
Market Trends: SUI hit a new historical high, PNUT and ACX rose by over 25% within the day
Market Hotspots
The SUI of the new public chain surged by 25%, breaking through $4.6 and setting a new historical high; SUI became the mainstream Altcoin that first recovered its decline and set a new historical high in this round of market;
Trending meme coins have generally rebounded, with PNUT leading the way with a 26% increase; PNUT is a squirrel-concept meme created by Musk during the US presidential election, with a current circulating market value of $1.3 billion and ranking 97th in the entire market;
The AI agent concept leader GOAT rebounded more than 30% from its previous low point, with a current circulating market value of $660 million. With the support of trending concepts and relatively low market value, GOAT’s future is still worth looking forward to.
Mainstream Coins
BTC returns above $100,000, BTC ETF maintains strong inflows, and the market outlook remains promising;
ETH followed the rebound, but the rebound was significantly smaller than BTC. The ETH ETF also maintained a large net inflow, which is a positive signal for the future price of ETH;
Altcoins generally rebounded, with trending tokens such as SUI, ACX, PNUT and IO rising by over 25% in 24 hours.
Macro news: The Nasdaq exceeded 20,000 points, setting a new historical high. It is almost certain that the Fed will cut interest rates by 25 basis points next week
The three major indexes of the US stock market fluctuated, with the S&P 500 index rising 0.82% to 6,084.19 points; The Dow Jones Industrial Average fell 0.22% to 44,148.56 points; The Nasdaq index rose 1.77% to settle at 20,034.89 points. The benchmark 10-year Treasury yield is 4.26%, while the 2-year Treasury yield, which is most sensitive to the Federal Reserve policy rate, is 4.15%.
The data released by the US Department of Labor on the 11th showed that the US Consumer Price Index (CPI) increased by 0.3% month on month in November, an increase of 0.1 percentage points from October. The US CPI rose 2.7% year-on-year in November. After excluding volatile food and energy prices, the core CPI in November increased by 0.3% month on month and 3.3% year-on-year, both of which were the same as the previous month, but higher than the long-term target of 2% set by the Federal Reserve.
According to CME’s “FedWatch”, the probability of the Fed keeping current interest rates unchanged until December is 1.4%, and the probability of a cumulative 25 basis point rate cut is 98.6%. The probability of maintaining the current interest rate unchanged until January next year is 1.1%, the probability of reducing interest rates by 25 basis points cumulatively is 79.9%, and the probability of reducing interest rates by 50 basis points cumulatively is 19%.
