Gate.io Blog Daily news |This week will see the release of the U.S. Consumer Price Index (CPI) and Federal Reserve FOMC resolutions; Tokens worth more than $240 million are set to be unlocked

Daily news |This week will see the release of the U.S. Consumer Price Index (CPI) and Federal Reserve FOMC resolutions; Tokens worth more than $240 million are set to be unlocked

01 January 08:00

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## Crypto Daily Digest: This week will see the release of the U.S. Consumer Price Index (CPI) and Federal Reserve FOMC resolutions; Tokens worth more than $240 million are set to be unlocked; Former President Trump will host a roundtable discussion focused on U.S. Bitcoin mining.
According to Token Unlocks data, multiple projects will conduct a one-time large-scale unlocking of tokens this week. Among them: <a href="/pt/price/aptos-apt" target="_blank" class="blog_inner_link">Aptos</a> will unlock 11.31 million APT on June 12, worth approximately US$96.7 million, accounting for 2.58% of the circulating supply; Immutable will unlock 25.53 million IMX on June 14, valued at approximately US$51.32 million, accounting for 1.72% of the circulating supply; Starknet will unlock 64 million STRK on June 15, valued at approximately US$74.88 million, accounting for 4.92% of the circulating supply.

Additionally, Dune data shows that the total amount of staked <a href="/pt/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> on the beacon chain is 32,912,765 ETH, with 1,028,524 validators. The staked ETH accounts for 27.46% of the total ETH supply. Notably, the liquidity staking protocol Lido holds a 28.86% share of the staked ETH.
 
LayerZero CEO responded to the issue of the reported Sybil address paying bribes to the reporter, strongly advising against any modifications to the report. He emphasized that the team has the original records from GitHub and Commonwealth, and altering or deleting information about the Sybil cluster could jeopardize the entire bounty program. He also announced that the final list of Sybil addresses would be released at the end of June.
 
According to the UXLINK official website and official X platform, the number of registered users of UXLINK has exceeded 10 million. DappRadar data shows that the monthly active independent addresses on the UXLINK chain have reached 4.7 million, ranking first in the entire domain.
 
According to News.<a href="/pt/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a>, in the past 90 days, the stablecoin economy has grown by more than 11%, with $16.23 billion flowing into the crypto market, of which USDT accounted for more than 69%. Over the past month, USDT supply has increased by 1.3%. Meanwhile, Circle’s <a href="/pt/price/usd-coin-usdc" target="_blank" class="blog_inner_link">USD Coin</a> (USDC) has lost 2.7% over the past month, but has shown growth over the 90-day period, with its market capitalization increasing from $29.88 billion on March 11 to today’s $32.23 billion.
 
The first phase of migration rewards for the AI ecosystem project NetX has begun distribution. All users who migrate $TRIAS tokens to the NetX network are eligible to receive $TAS rewards. The first phase of the NetX migration will conclude at the end of June.

Triathon, a Web3+AI model training project, has officially launched its governance proposal function, with the $GROW governance token becoming the focal point. Additionally, Triathon announced the integration of the AIA training model and the NetX mainnet. These steps aim to build a more robust Web3 AI training ecosystem.
 
io.net founder and CEO Ahmad Shadid has announced his resignation as CEO. Alongside his departure, he will donate 1 million IO tokens to the io.net Internet of GPUs Foundation.
 
According to DefiLlama data, pump.fun earned $1.15 million in the past 24 hours, marking the third highest daily revenue in its history. The previous record for daily revenue was $1.48 million, set on May 30.
 
Trump raised $12 million at an event hosted by tech venture capitalists in San Francisco. Additionally, his campaign’s cryptocurrency aide, David Bailey, announced that Trump would hold a roundtable on Bitcoin mining in the United States. While Bailey did not disclose which companies or individual miners might attend the future meeting, he later clarified in a subsequent post on X that recognized industry players would be participating in the conference.
 
According to Lookonchain monitoring, nine Bitcoin ETFs increased their holdings of 3,689 BTC (approximately $261.9 million) on Friday.
 
U.S. May non-farm payrolls data showed an increase, along with a rise in the unemployment rate. As a result, U.S. interest rate futures traders sharply reduced their bets on a rate cut by the Federal Reserve in September, now seeing a 55% chance of a rate cut compared to 70% in previous data.

## Market Analysis: BTC is consistently vying for the $70,000 mark, while the altcoin sector is experiencing a rapid rebound.
**General trend: **
Bitcoin (BTC) has recently fluctuated at high levels, with bulls and bears competing near the $70,000 mark. If today's price rises and closes remain above $70,000, it could result in a daily moving average long arrangement, potentially sparking bullish sentiment in the market.

It is worth mentioning that the U.S. non-farm payroll data released last Friday far exceeded expectations, leading the market to further reduce expectations for an interest rate cut in September. As a result of this negative news, assets such as Bitcoin fell, with its price dropping to around $68,400. On the 4-hour chart, Bitcoin began to rebound after finding support at the 60-period moving average

In terms of capital <a href="/pt/price/flow-flow" target="_blank" class="blog_inner_link">Flow</a>, U.S. spot ETFs have shown net inflows for 19 consecutive trading days, including an increase in holdings of 3,689 BTC (approximately $261.9 million) last Friday. Although Hong Kong spot ETFs have a much smaller capital size compared to the U.S. market, they have also exhibited net inflows overall.

To sum up, from both a macro and micro perspective, there are no signs indicating that Bitcoin will experience a sharp decline. In the short term, it may remain in a consolidation state, while the long-term market outlook remains promising.

**Market hot spots:**
**RWA sector: **The real world assets (RWA) sector has increased by 7.15% in the past 24 hours, with leading gainers such as MKR, ONDO, PENDLE, and POLYX. The RWA sector is the most closely related to physical applications in this bull market cycle. It plays a crucial role in increasing the adoption rate of encryption technology and products, attracting significant attention from traditional market investors.

**SocialFi sector: **Recently, the TON chain game Notcoin (NOT), supported by Telegram, has surged fivefold in a week, sparking a craze in the social field. The sector has increased by 2.79% in the past 24 hours. Among the leading gainers are MOON, CHZ, MASK, and CBK, with respective increases of 7.94%, 7.33%, 4.8%, and 3.46%.

**GameFi sector: **The blockchain gaming (GameFi) sector, which led the market last week, has recently seen a decline in popularity, with a modest increase of 1.65% in the past 24 hours. The sector has also been buoyed by spillover funds from the popular click-to-play game Notcoin (NOT). Tokens such as IMX, PORTAL, BEAM, and YGG, which followed BTC's decline last week, have now begun to recover.

**MEME sector: **The MEME sector has proven to be one of the most sustainable tracks in this bull run. From a series of cat-themed MEMEs to joint payment MEMEs and recent celebrity coins like MOTHET and JENNER, the MEME sector has consistently captured market attention through innovative distribution mechanisms, marketing strategies, and narrative themes. The sector has increased by 0.55% in the past 24 hours. While the performance of tokens within the sector has varied greatly, some, such as RNT, GME, BRETT, MAGA, and MOTHER, have experienced relatively high increases.

To sum up, the crypto market is further facing the test of macro liquidity tightening. Bitcoin continues to fluctuate around the high price mark, while sectors such as RWA, SocialFi, and GameFi are beginning to recover, although the strength of this recovery remains uncertain. It is foreseeable that the AI and MEME sectors, despite showing slight weakness in recent days, still deserve significant attention. However, given the current tightening macro-environment, investors should be more cautious about capital speculation. The popularity of certain sectors can rise and fall quickly, so it is crucial to remain vigilant. And investors are suggested to closely monitor investment opportunities in tokens from recent hot sectors specifically AI+DePIN and AI+MEME.

## Macro: Fed shows stronger-than-expected commitment to tightening policy. The market is closely watching this week’s interest rate decision. 
Currently, the Federal Reserve is dealing with the situation of tightening interest rate policy. Following the release of better-than-expected employment data last Friday, the likelihood of the Federal Reserve cutting interest rates has decreased once again.

Due to the strong performance of the job market, especially the rebound in wage growth, inflation is expected to decline more slowly. This makes it likely that the Federal Reserve will prioritize inflation control over job market conditions when making policy decisions. If May's inflation data remains robust, the odds of the Fed implementing one or even no rate cuts this year will increase significantly.

This week, the market will be closely watching the Federal Reserve's interest rate decision. The Fed will hold a two-day policy meeting on June 12-13, during which it will release a summary of economic projections and an updated dot plot of interest rates. These releases will be the focus of market attention.

Judging from various interpretations, the Fed appears to be showing a stronger commitment to its current policy compared to previous periods. This is largely due to robust data performance, indicating that the Fed needs a longer observation window to assess economic conditions. Consequently, the market expects that the Federal Reserve may only implement a limited number of interest rate cuts this year, or possibly none at all.

However, it is worth noting that while the non-farm payroll data released last week exceeded expectations, the unemployment rate also increased. Balancing the need to effectively suppress inflation without overly cooling the economy may become a major concern for the Federal Reserve. This situation explains why various risk assets, including Bitcoin, have experienced declines, albeit relatively small ones.

Generally speaking, when dealing with the current situation of tightening interest rate policy, the Federal Reserve needs to consider two major factors: employment and inflation. Following the release of new data and the upcoming Federal Reserve policy meeting, the market will gain a clearer understanding of the Fed's monetary policy direction. We will be closely monitoring these developments.

<div class="blog-details-info">
<div>Author:**Carl Y.**
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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