Gate Research: Federal Reserve Cuts Rates by 50 Basis Points, BTC Surpasses $62,000, Sui Ecosystem TVL Hits New High

Gate Research Weekly Review and Outlook reports: BTC may be affected by a 50 basis point interest rate cut, breaking through $62,500 with resistance at $63,000. Both Bitcoin and Ethereum ETFs are in a net inflow state overall. The total market cap of stablecoins has increased for several consecutive weeks, with further inflow of incremental funds from outside the market. The Federal Reserve announced a 50 basis point reduction in the target range for the federal funds rate. The Trump family's cryptocurrency project, World Liberty Finance, was recently launched. The ARB chain DeFi project DeltaPrime suffered an attack, losing approximately $4.5 million.

Market Analysis: BTC experienced high volatility, breaking above $62,500 on the 19th before retreating. Bitcoin ETFs saw a net inflow of $17.44 billion, while Ethereum ETFs had a net outflow of $615 million. Stablecoins showed steady growth of 0.59%, with continued inflow of foreign currency funds.

Weekly Spotlights: The Federal Reserve announced a 50 basis point reduction in the federal funds rate target range, potentially bringing more capital inflow to major crypto assets like Bitcoin and Ethereum. Gate launched an innovation zone to quickly capture on-chain trends and seize early opportunities. 1inch introduced Fusion+, an intent-based atomic swap feature.

Data Highlights: This week, the BTC ETF market showed net inflows. Sui's TVL surpassed $800 million, reaching a new all-time high. Bitcoin's weighted funding rate was only negative on September 14th, overall positive, with long positions dominating Bitcoin and Ethereum contracts across the network.

Market Opportunities: The airdrop project to watch this week is Catizen. Catizen's Stake to Earn activity has surpassed one million participants, with total staking approaching 15 million CATI, becoming the staking yield activity with the highest participation in the crypto ecosystem.

What to Watch Next Week: ETHGlobal Singapore will officially begin on September 20th. On September 25th, the EOS Network Foundation will undergo a hard fork or consensus upgrade, stating that the Spring 1.0 and Savanna consensus algorithm will be the most important upgrade since the network's launch.

Deep Dive into This Week's Review 👉🏻 Gate Research: Federal Reserve Cuts Rates by 50 Basis Points, BTC Surpasses $62,000, Sui Ecosystem TVL Hits New High

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Gate Team
September 20th, 2024