BTC hits $62K after news of US Fed rate cut

Hot projects + Market overview

I. Mainstream exchange news

• Coinbase will list Aleo (ALEO) and ZetaChain (ZETACHAIN).
• Coinone, S. Korea’s major exchange, has listed WOO Ecosystem’s WOO token.
• Binance will launch the KDA/USDT perpetual contracts.
• Binance Savings has introduced customized dual investment products. Users with asset holdings exceeding 300,000 USDT can buy or sell large amounts of cryptocurrency according to their preferred target prices and settlement dates.
• Binance Loans (Flexible Interest Rate) and VIP Loans have added borrowable assets including Baby Doge Coin (1MBABYDOGE), First Neiro on Ethereum (NEIRO), Polygon (POL), and Turbo (TURBO).
• Gate.io has launched a Telegram mini app, allowing users to complete account registration and KYC verification directly within Telegram.

II. Mainstream projects and trending events

• The US Federal Reservehas cut the interest rates by 50 basis points, the first rate cut since the Fed began tightening monetary policy in March 2022.
• US presidential candidate Donald Trump made his first Bitcoin payment at PubKey, a Bitcoin-themed bar in New York. He used the Strike app, which is built on the Bitcoin Lightning Network, to spend $998.7 on dozens of hamburgers for his supporters at the venue.
• Programmable privacy network Aleo has launched its mainnet to support developers in creating applications for secure identity verification and scalable, compliant payments.
• Revolut, the fintech giant valued at $45 billion and granted a UK banking license in July, is planning to issue its own stablecoin.
• Asset management company Borderless Capital has launched its third fund on decentralized physical infrastructure (DePIN), worth $100 million.
• Switzerland stock exchange, SIX Exchange, is exploring the establishment of a cryptocurrency trading platform in Europe.
• Celestia has completed its first mainnet upgrade, introducing one-click interactions via IBC.
• USDS and SKY tokens are now live on the Ethereum blockchain, supported by the decentralized Sky Protocol, which offers various DeFi functionalities.
• BNB Chain has launched a gas-free stablecoin payment program.

III. Funding news

• Amnis Finance has completed a $2 million funding round, led by OKX Ventures and Borderless Capital.
• Hemi Labs has raised $15 million in funding, led by Binance Lab.
• TrueX, a cryptocurrency exchange founded by former Coinbase executives, has completed a $9 million seed funding round participated in by RRE Ventures and Hack VC.
• Ambrus Studio, a blockchain game developer, has secured a multi-million-dollar funding round led by The Spartan Group.
• Bitget and Foresight Ventures has made a strategic investment of $30 million in TON.
• Vana, a data DAO startup, has completed a $5 million strategic funding round led by Coinbase Ventures.
• Decentralized AI project NetMind.AI has invested £2 million ($2.63 million) in AI hardware technology company TG0.
• Prime Protocol has completed a $1.25 million strategic funding round participated in by Arrington Capital.
• Aethir and XAI have jointly launched a $10 million ecosystem grant program to support AI gaming projects.

IV. Regulatory news

• The Reserve Bank of Australia (RBA) has announced a strategic shift to prioritize the development of a wholesale Central Bank Digital Currency (CBDC) while putting plans for a retail CBDC on hold.

V. Popular projects 

Market overview

Following the US Federal Reserve's announcement of a 50 basis point rate cut, US stocks showed volatility but ended slightly lower. Bitcoin quickly rebounded and currently holds slightly above $62,000.

If BTC breaks and holds above the daily moving average (MA140) at $62,800, it could signal a stronger bullish momentum.

In addition, as long as BTC stays above the hourly MA140 at $59,599, the current uptrend is likely to continue.

BILLY is up 90% in a day

BILLY, a memecoin on Solana featuring a cute dog, has surged 90% in the last 24 hours.

The BILLY token has previously dropped 90% from its high point and is stabilizing recently, with a market cap of $38.47 million, on-chain liquidity of $2.53 million, and a 24-hour trading volume of $30 million.

NEIRO is up 46% in a day

Neiro on ETH, which had been underperforming among NEIRO tokens, experienced a 46% price surge in the last 24 hours following recent declines.

The Neiro concept is a focus of recent speculation, symbolizing a new concentration of wealth effects. Potential spin-offs from this concept could be noteworthy.

POPCAT is up 19% in a day

The price of POPCAT, a cat-themed memecoin within the Solana ecosystem, has risen 19% in the last 24 hours.

It is listed on major exchanges, with a market cap of $850 million and high funding activity, showing strong price performance.

VC Coins experienced a considerable rebound

Projects supported by VC have experienced a broad rebound as market risk appetite gradually increases.

ZETA rose 26% following the Coinbase listing announcement, while TAIKO increased by 29%, and SAGA, SEI, and ALT each rose by 21% and 16% respectively.

On-chain daily

1. NEIRO: NEIRO is a memecoin on the Ethereum chain, featuring Doge’s owner’s second Shiba Inu. Wintermute has accumulated 6.2% of NEIRO tokens since September 10, worth approximately $4.55M.

   - Current Price: $0.1005

   - Historical High: $0.1995

   - 24-Hour Increase: 51%

   - Current Market Value: $106M  

   - Official Twitter: https://t.me/neiro_ethereum

2. VISTA: VISTA is a memecoin on the Ethereum chain, recognized as the first value-compounding deflationary token and the native currency of EthervistaDEX. On September 13, 2.79% of the total supply was burned, and there are rumors of its listing on OKX.

   - Current Price: $20.45

   - Historical High: $33.95

   - 24-Hour Increase: 75%

   - Current Market Value: $5.2M  

   - Official Twitter: https://x.com/ethervista

3. MOODENG: MOODENG is a memecoin on the Solana chain, featuring a two-month-old baby hippo that became a viral YouTube sensation.

   - Current Price: $0.02462

   - Historical High: $0.03036

   - 24-Hour Increase: 25%

   - Current Market Value: $12M  

   - Official Twitter: https://x.com/ethervista

4. POPCAT: POPCAT is a memecoin on the Solana chain, featuring the most famous cat meme based on the domestic shorthair cat “Oatmeal,” known for its "O"-shaped mouth.

   - Current Price: $0.8600

   - Historical High: $0.8753

   - 24-Hour Increase: 23%

   - Current Market Value: $860M  

   - Official Twitter: https://x.com/POPCATSOLANA

5. BURGER: BURGER is a memecoin on the Ethereum chain, inspired by the moment when Donald Trump made headlines for using Bitcoin to buy a burger.

   - Current Price: $0.058776

   - Historical High: $0.058776

   - 6-Hour Increase: 115K%

   - Current Market Value: $7.2M  

   - Official Twitter: https://x.com/BTCCryptoBurger

6. PESTO: PESTO is a memecoin on the Solana chain, featuring a baby emperor penguin that went viral online and is now managed by a community takeover team.

   - Current Price: $0.001483

   - Historical High: $0.002671

   - 24-Hour Increase: 2674%

   - Current Market Value: $6.5M  

   - Official Twitter: https://x.com/PestoBabyPeng

Bitcoin Ecosystem Overview

BTC Mainnet Gas Fee Update:  

- Current BTC transaction fee: 4 satoshis/byte  

- Despite market conditions, transaction fees have remained persistently low for the past three months.

Fractal Bitcoin Gas Fee Update:  

- Transaction fee: 800 satoshis/byte  

- The spike in fees is driven by the availability of minting under the BRC-20 protocol on Fractal Bitcoin, causing FOMO in the market.

Leading Coins in Ordinals, Runes, and Fractal Bitcoin Ecosystem:

ORDI:  

  - Current Price: $32.1  

  - 24-Hour Increase: 4%  

  - Market Value: $674.77M  

DOG:  

  - Current Price: $0.00247  

  - 24-Hour Increase: 6%  

  - Market Value: $243.17M  

FB:  

  - Current Price: $21.6  

  - 24-Hour Decrease: 5%  

  - Market Value: $39.59M  

Today's Trending Projects:

GLIZZY:  

  - Fractal Bitcoin inscription  

  - Market Value: $1.8M  

  - 24-Hour Trading Volume: $229,402  

  - 24-Hour Increase: 75%  

  - Holding Addresses: 15,047  

SATX:  

  - Inscription  

  - Market Value: $2.3M  

  - 24-Hour Trading Volume: $7,799  

  - 24-Hour Increase: 17%  

  - Holding Addresses: 5,021  

BILLION DOLLAR CAT:  

  - Rune  

  - 24-Hour Trading Volume: $21,005  

  - 24-Hour Increase: 84%  

  - Holding Addresses: 8,429

Performances of today's top three tracks

AI: Overall sector 24-hour increase: 4.64%

1. MOOV: MOOV is gamifying sports through dotmoovs, a blockchain-powered platform that uses AI systems to analyze athlete performance in sports challenge videos on its Play2Earn platform.

   - 24-Hour Increase: 10.5%

   - Current Price: $0.00194

   - Market Value: $1.94M

   - 24-Hour Trading Volume: $515.42K

   - Recent News: Program update and new feature additions.

2. MAN: Matrix is an AI-optimized blockchain platform currently in its Matrix 3.0 phase, combining neuroscience with AI and blockchain.

   - 24-Hour Increase: 8.99%

   - Current Price: $0.01828

   - Market Value: $8.23M

   - 24-Hour Trading Volume: $463.95K

   - Recent News: Launch of Neura Matrix Open Platform.

3. MASA: MASA is building a decentralized AI data and large language model (LLM) network, allowing users to share and monetize their data and computing resources.

   - 24-Hour Increase: 8.35%

   - Current Price: $0.06423

   - Market Value: $21.54M

   - 24-Hour Trading Volume: $8.72M

   - Recent News: Participation in TOKEN2049 AI meet-up.

RWA: Overall sector 24-hour increase: 3.99%

1. PRCL: Parcl is a decentralized perpetual exchange focused on real-world real estate prices, offering liquidity in the largest asset class in the world.

   - 24-Hour Increase: 14.4%

   - Current Price: $0.1844

   - Market Value: $24.87M

   - 24-Hour Trading Volume: $17.44M

   - Recent News: The Dubai market launched and is available for trading.

2. KLIMA: KlimaDAO is building a digital carbon market infrastructure to accelerate climate finance globally.

   - 24-Hour Increase: 11.1%

   - Current Price: $1.234

   - Market Value: $18.51M

   - 24-Hour Trading Volume: $753.03K

   - Recent News: No updates.

3. OM: Mantra aims to fill the gap in the Cosmos ecosystem by creating a blockchain focused on real-world and tokenized asset compliance and regulation.

   - 24-Hour Increase: 9.39%

   - Current Price: $1.1465

   - Market Value: $967.61M

   - 24-Hour Trading Volume: $28.16M

   - Recent News: MANTRA chain mainnet to launch in October 2024.

DePIN: Overall sector 24-hour increase: 3.98%

1. BLZ: Bluzelle is a decentralized storage network for the creator economy, offering services like data storage and oracles, particularly suited for NFTs and DeFi.

   - 24-Hour Increase: 18.83%

   - Current Price: $0.1439

   - Market Value: $62.63M

   - 24-Hour Trading Volume: $10.06M

   - Recent News: No updates.

2. ALEPH: Aleph.im is a decentralized cloud storage, database, and computing platform compatible with blockchain, targeting DeFi infrastructure.

   - 24-Hour Increase: 13.81%

   - Current Price: $0.16577

   - Market Value: $30.9M

   - 24-Hour Trading Volume: $604.26K

   - Recent News: Presented at CoffeeDAO during TOKEN2049.

3. HNT: Helium is a decentralized wireless network aimed at providing coverage for IoT devices, with HNT as its native cryptocurrency.

   - 24-Hour Increase: 10.31%

   - Current Price: $7.491

   - Market Value: $1.27B

   - 24-Hour Trading Volume: $23.58M

   - Recent News: Attended TOKEN2049.

Disclaimer

The development and market cap of stablecoins mentioned in the above content is speculative and based on market analysis at the time of writing and should not be interpreted as guaranteed outcomes. Market conditions can fluctuate widely and unpredictably due to numerous factors such as regulatory changes, market demand, and global economic developments. 

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