Preface:
Bitcoin and Ethereum have risen by 1.25% and 1.32%, respectively, in the past 24 hours, with current prices at $57,511 and $2,376. The ETH/BTC exchange rate remains at 0.04. The crypto Fear & Greed Index stands at 37, indicating fear.

Market Trending

From a macro perspective, the US stock market has rebounded, and BTC has followed suit, showing a “slow decline and quick rise” pattern. However, the overall market lacks obvious hot spots. The probability of a 25-basis-point interest rate cut in September has risen to 69%, with the market betting on at least two significant rate cuts by the Fed soon, boosting sentiment in the financial sector. Recently, the SEC issued warnings about the risks of Bitcoin and Ethereum ETFs, labeling BTC and ETH as highly speculative investments, which will require further attention to developments. The US will release August CPI data this Wednesday, the last key data point before the Fed’s mid-September interest rate announcement. There is potential for risk-averse funds to exit, triggering a second market bottom. Investors should remain cautious.
As for market hot spots, due to today’s debate between Trump and Harris, the Meme coin sector saw fluctuations, with political concept-related tokens rising, led by PEOPLE, which surged over 15%. In the public chain sector, FTM has achieved three consecutive daily gains. The Fantom testnet, Sonic, has launched, with the community actively participating in testnet interactions. In the TON ecosystem, the Play2Airdrop game Catizen is set to have its token TGE event on September 20. Catizen was launched in March 2024 and has surpassed 10 million downloads within ten weeks, with 2 million daily active users, making it a current hot topic in the community. In the Bitcoin ecosystem, Fractal Bitcoin has released its tokenomics, with a total supply of 210 million FB tokens, 80% of which will be allocated to the community, potentially bringing new vitality to the BTC L2 ecosystem.

Spot Bitcoin ETF Flows

Yesterday, US Bitcoin spot ETFs had a net inflow of $116.97 million, with Fidelity’s FBTC seeing a net inflow of $63.16 million; ARKB had a net inflow of $12.68 million; BITB and Grayscale’s GBTC saw no inflows or outflows.
On the other hand, US Ethereum spot ETFs had a net inflow of $11.4 million, with FTHE having a net inflow of $7.13 million; ETHA had a net inflow of $4.27 million; ETHE had no inflows or outflows.

Check Out the Latest Prices, Charts, and Data of BTC/USDT Spot and BTCUSDT Perp!

Daily Spotlight

Today’s hot project is AAVE, with a 24h increase of 10.79%.
Founded in 2017, Aave (AAVE) is a decentralized lending platform on Ethereum that allows users to lend and borrow cryptocurrencies and earn interest without intermediaries. It uses smart contracts that require collateral for loans and issues interest-generating aTokens. Aave also offers features like instant loans. The Aave DAO has launched a dedicated market for Ether.fi’s weETH liquid staking tokens. Users can now borrow stablecoins such as USDC, pyUSD, and FRAX using weETH as collateral. Following Lido and Ethena, this new market marks Aave V4’s focus on scalable markets and isolated risk, shifting toward a more liquid market structure. This news has led to AAVE’s price rising for two consecutive days, reaching a peak of $152, with a current market cap of $2.24 billion.
Check Out the Latest Prices, Charts, and Data of AAVE/USDT Spot and AAVEUSDT Perp!

The Word on the Street

Former President Donald Trump and Vice President Kamala Harris are holding their first presidential debate, a high-stakes showdown that could influence the entire campaign. The 90-minute debate, hosted by ABC News at the National Constitution Center in Philadelphia, began at 9 PM Eastern Time. During the debate, the two clashed on tariffs, immigration, political unity, the trade war with China, abortion, and reproductive rights.
This is the first face-to-face encounter between Harris and Trump. Both campaign teams have expressed willingness to participate in at least one debate, but plans for a second meeting have yet to be finalized.

Airdrop Claim

On September 11, according to official news, the Ethereum re-staking protocol EigenLayer announced that the Season 2 Stakedrop claims will be open by September 17, 2024. Season 2 Stakedrop aims to reward key contributors and participants in the ecosystem, including stakers and operators, ecosystem partners, and the community. The detailed rules are as follows:

• Stakers and Operators (staked ETH or EIGEN during S2);
• Ecosystem Partners (including AVS, LRT, Rollup, RaaS providers, and other key contributors to the EigenLayer ecosystem);
• Community (early supporters, contributors, and projects since EigenLayer’s inception).