1) Market Overview
BTC has declined, leading to a widespread drop in altcoins, with the market's main focus on the ETH ecosystem.
Both US stocks and the dollar have fallen, with the China-US trade negotiations facing challenges, compounded by weak CPI and rising expectations for interest rate cuts.
2) Quick Look at Market Hotspots
1. BN launches RESOLV: A stablecoin based on ETH and BTC, similar to ETHNA, using perpetual hedging strategies with substantial positions betting on HYPE.
2. South Korean public chain KAIA surges: Boosted by the new president's crypto-friendly policies, supporting the issuance of stablecoins. The backers include Kakao and LINE, embodying both social and payment features.
3. Meme craze reignites: LABUBU's popularity surges across the network, while the long-standing AURA skyrockets a hundredfold in a single day, igniting speculative sentiment.
