Bitget Research Institute: The Federal Reserve has reduced its expectations for the number of interest rate cuts this year, and the IO coin price has hit a new high against the trend
Written by: Bitget Research Institute
Summary
Yesterday, two important data were released in the market. The Federal Reserve FOMC meeting released a dot plot, which showed that the number of interest rate cuts expected this year was reduced, and the crypto market experienced large fluctuations. Among them:
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The sectors with strong wealth creation effects are: New public chain sector,AI Plate;
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User Hot SearchToken& Topics: IO.NET, Hifi Finance, Daddy, Aethir;
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Potential airdrop opportunities include:Xiaobai NavigationSymbiotic, Mezo;
Data statistics time: 4:00 on June 13, 2024 (UTC+0)
1. Market environment
Yesterday, the US released the latest CPI data of 3.3%, which was lower than the expected 3.4%, and the market rebounded. Then at 2 am Beijing time, the Fed FOMC meeting released the latest dot plot, which showed that most Fed officials lowered their expectations of interest rate cuts to one, or 25 basis points, this year. Then the market erased all the gains after the CPI was released.
As for Bitcoin ETF, yesterday's data showed that ETF had a cumulative net purchase of 100 million US dollars, reversing two consecutive days of net outflow. From the trading level, we can see that although the Federal Reserve has lowered the expected number of interest rate cuts this year, the market generally believes that there may be two interest rate cuts this year. After the release of this data, the market may enter a period of calm, and investors can wait for the market to release further clear signals before making trading decisions.
2. Wealth-making sector
1) Sector changes: New public chain sector (TON)
The main reason is that the number of active users on the TON public chain has recently surpassed that of Ethereum. Due to the seamless connection between Telegram's huge user base and the TON ecosystem, the TON public chain has recently seen a frequent wealth creation effect. TokenDemand also continues to rise.
Increase: TON increased by 8.5% in the past 24 hours;
Factors affecting the market outlook:
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Data from all aspects are impressive: TON network activity has gradually increased since February. As of now, the number of daily active addresses of TON has exceeded that of Ethereum, and the TVL of the TON ecosystem has exceeded US$460 million, setting a record high.
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Ecological construction continues to gain momentum: Recently, TON ecological projects have received widespread attention from users on the chain. With the wealth-creating effect of NOT, users are paying more attention to game projects on the TON chain, such as Hamster Kombat, Catizen, etc.
2) Sector changes:AI Sector (IO, ATH)
主要原因：IO、ATH 等作为近期新上线的 AI 赛道基建类项目，受到了市场广泛的关注。此类项目作为平台能够产生较为稳定的现金流，同时 AI 赛道作为全球科技界的核心叙事，也会为加密行业 AI 项目不断抬升估值。
Rising situation: IO rose by 45.8% in the past 24 hours, and ATH rose by 50.6% in the past 24 hours;
Factors affecting the market outlook:
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AI narrative: Projects such as IO and ATH are AI computing power supply platforms and belong to infrastructure projects. If such projects can form cooperation with the mainstream technology industry, such as reaching cooperation projects with companies such as Apple, Microsoft, and Nvidia, then the valuation of project tokens will naturally rise;
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Core data of ecological development: The cash flow of platform projects is relatively clear. If the platform demand can continue to develop healthily and generate stable cash flow, the valuation of platform tokens will enter a healthy development.
3. User Hot Searches
1) Popular Dapps
IO.NET
The project is a decentralized computing network that supports BlockchainDevelop, execute and scale ML applications on DePIN.io.net, combining 1 million GPUs to form the world's largest GPU cluster and DePIN.io.net to aggregate underutilized resources. The project was launched on the secondary market in a relatively sluggish market and is relatively undervalued. The price is now in the upside, with a 24-hour increase of more than 50%. The trading volume ranks among the top 10 in the market. The token has been listed on Bitget and you can continue to pay attention.
2) Twitter
Hifi Finance (HIFI): RWA track project, producing more promotional and educational videos in the near future to helpCommunityI have a better understanding of RWA and Hifi Finance. The project maintains a good operating level. The recent trend of the project token is average, following the market trend in the process of downward adjustment. The secondary market has a history of sharp rise and fall, and it is the target of major funds.
3) Google Search & Region
From a global perspective:
Daddy: The core hype comes from the struggle between Andrew Tate and Ansem.CommunityDaddy tokens were issued. Andrew Tate is a famous American Internet celebrity and a former professional boxer; Ansem is an early evangelist of WIF, has a very high influence in the Crypto industry, and is also an amateur boxer. At present, Tate's meme coin has completely defeated Ansem's and has received relatively high market attention.
Aethir: The project is engaged in decentralized, real-time content rendering technology; the project has a decentralized cloud service infrastructure that serves games and AI products, and the project is in the second place in this track. The project token and the token of the track leader io.net were launched at the same time, and the trend of both tokens is very good, and the market trading heat and attention are gradually increasing.
From the hot searches in each region:
(1) In the hot searches in Asia, "Crypto Crash" and "Why Crypto is Down" were the most prominent. The crypto market released FOMC and CPI data at the same time yesterday. The risk aversion sentiment was quite serious in advance, and the market was under pressure before the data came out.
(2) In Europe and the United States, people pay attention to projects with fundamentals, mainly focusing on AI, DeFi, and ZK. Hot search projects include io.net, ZK, AEVO, UNI, etc. In addition, the region is more concerned about the macro situation, and CPI and FOMC appear on the lists of several European countries.
(3) The CIS region focuses on a wide range of areas, including projects such as IO, Blast Crypto, ADA, and Crypto Whales.
Potential Airdrop Opportunities
Symbiotic
Symbiotic is a general purpose restaking project that enables decentralized networks to bootstrap powerful, fully sovereign ecosystems. It provides a method for decentralized applications, called Active Validation Services or “AVS”, to collectively ensure each other’sSafety.
Symbiotic recently completed its seed round of financing, with Paradigm and Cyber Fund participating in the investment, with a financing amount of US$5.8 million.
Specific participation method: Enter the project's official website, linkwallet, deposit ETH and ETH LSD assets.
Mezo
Mezo is a BTC Layer 2 project that focuses on the BTC ecosystem, helping BTC holders to transfer and manage money on the chain, and driving the development of the BTC DeFi system. Mezo recently announced the completion of a $21 million financing round, with participating institutions including Pantera Capital, Hack VC, Multicoin Capital and other leading institutions in the industry.
The official has already disclosed its BTC asset pledge plan and introduced a referral mechanism. There are strong expectations for the project's airdrops and it is currently in the initial stage of operation.
How to participate: 1) Visit the project website and find the invite code in Discord; 2) Enter the invite code and link to unisa wallet;3) Deposit BTC.
The article comes from the Internet:Bitget Research Institute: The Federal Reserve has reduced its expectations for the number of interest rate cuts this year, and the IO coin price has hit a new high against the trend
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