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The market originally expected a "hawkish rate cut" from the Federal Reserve, but in reality, there were no additional dissenters, no higher dot plot, and the anticipated tough stance from Powell did not materialize.
Although this rate cut was as expected, there was an unusual split within the Federal Reserve, and it hinted at a possible prolonged pause in the future. At the same time, the Fed is stabilizing year-end liquidity by purchasing short-term bonds.
The surge in LUNA’s price and huge trading volume are not a result of fundamental recovery, but rather the market betting with real money on how long Do Kwon will be sentenced on the eve of his sentencing.
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Cyber co-founder starts a new venture.
A cryptocurrency practitioner who once held libertarian ideals became disillusioned after reflecting on a career spent building "financial casinos," sparking a profound reflection on the divergence between the original aspirations and the current reality of the crypto space.
Powell pointed out that the U.S. labor market is cooling, with hiring and layoffs slowing down and the unemployment rate rising to 4.4%. Core PCE inflation remains above the 2% target, but service inflation is slowing. The Federal Reserve has cut interest rates by 25 basis points and started purchasing short-term Treasury bonds, emphasizing that the policy path needs to balance risks between employment and inflation. Future policies will be adjusted based on data. Summary generated by Mars AI. This summary is produced by the Mars AI model, and the accuracy and completeness of its generated content are still in the process of iterative improvement.
The surge in LUNA's price and the enormous trading volume were not a fundamental resurgence but rather the market placing a bet in the form of significant money and assets on the eve of Do Kwon's sentencing, speculating on how long he will be sentenced for.
While this interest rate cut was as expected, there was a rare internal Federal Reserve divergence, hinting at a potential extended pause in the future. At the same time, they stabilized year-end liquidity by purchasing short-term bonds.
- 07:43Current mainstream CEX and DEX funding rates indicate that the market remains broadly bearish.BlockBeats News, December 11, according to Coinglass data, the current funding rates on major CEX and DEX platforms indicate that the market remains broadly bearish. The specific funding rates for major cryptocurrencies are shown in the attached chart. BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and the underlying asset prices, typically applied to perpetual contracts. It is a capital exchange mechanism between long and short traders; the trading platform does not charge this fee. It is used to adjust the cost or profit of holding contracts, so that contract prices remain close to the underlying asset prices. When the funding rate is 0.01%, it represents the benchmark rate. When the funding rate is greater than 0.01%, it indicates that the market is generally bullish. When the funding rate is less than 0.005%, it indicates that the market is generally bearish.
- 07:42Some Meme coins continue to rise during the market pullback, with JELLYJELLY surging 37% against the trend.BlockBeats News, December 11, according to GMGN monitoring, due to the market correction, the overall Solana on-chain ecosystem is showing a downward trend. Meme coins that saw significant gains yesterday, such as 67 and SPARK, have experienced varying degrees of decline today, while PIPPIN's price has remained flat. However, some Meme coins have maintained yesterday's upward momentum. Specific information is as follows: JELLYJELLY: Up 37% in 24 hours, market cap currently at $58.7 million, current price approximately $0.058; FKH: Up 31% in 24 hours, market cap currently at $8.04 million, current price approximately $0.008; PIPPIN: Up 4.9% in 24 hours, market cap currently at $344 million, current price approximately $0.344; 67: Down 28% in 24 hours, market cap currently at $16.35 million, current price approximately $0.016; BlockBeats reminds users that Meme coin trading is highly volatile, often relying on market sentiment and hype, with no actual value or use case. Investors should be aware of the risks.
- 07:42Bhutan partners with Matrixport to advance digital financial infrastructure and launches the gold-backed token TER projectBlockBeats News, December 11, the Gelephu Mindfulness City Authority (GMCA) announced on December 11 the appointment of Matrixdock, the RWA platform under Matrixport, as the core tokenization technology partner for the upcoming gold-backed token TER. Matrixdock will be responsible for building the underlying tokenization technology framework for TER, leveraging its technical expertise in gold tokenization and institutional-grade RWA infrastructure to support GMC in establishing a verifiable, transparent, and digital-first financial system. With the implementation of this partnership, Matrixdock will become one of the earliest technology providers globally to enter the national-level RWA scenario. The pilot of a sovereign gold stablecoin will not only lay the foundation for Bhutan's digital financial architecture but is also expected to become a standardized reference for the industry in the future. Against the backdrop of national-level RWA projects, related pilots will have a profound impact on market foundational standards, technological pathways, and governance models, providing the entire industry with a new source for "pricing systems." Matrixport CEO John Ge stated: "The financial services license has laid the foundation for our development in Bhutan, and participating in the technical construction of GMC is a key step in our continued commitment. We are honored to support the visionary leadership of the King of Bhutan and the national strategic vision. This collaboration also demonstrates Matrixport's unique capability to connect global technological innovation with sovereign digital financial needs."