Bitcoin has dropped, and altcoins are following suit, but market funds are quietly shifting towards Ethereum-related projects. The market is currently influenced by three macro factors: the possibility of a rate cut in the US, difficulties in US-China trade negotiations, and declines in both US stocks and the dollar index.

There are three hotspots in the market worth noting:

1️⃣ Binance has launched a stablecoin project called Resolv, which is pegged to both Bitcoin and Ethereum, somewhat similar to the previous Ethna project. Resolv hedges risks through perpetual contracts, with most hedge positions on the Hype platform.

2️⃣ The South Korean public blockchain Kaia has recently surged due to the new South Korean president's friendly stance towards cryptocurrencies, planning to lift restrictions on stablecoins. Kaia is backed by South Korean social giants Kakao and Line, giving it a natural advantage in payment finance.

3️⃣ Meme coins are hot again, with Labubu gaining attention due to its high popularity, and the established meme coin Aura skyrocketing a hundredfold in a single day.

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