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%CHG.
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5738.17
-7.20
-0.13%
5763.78
5727.34
18119.58
-70.71
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18238.28
18069.18
42312.99
+137.87
+ 0.33%
42628.32
42227.95
100.100
-0.120
-0.12%
100.570
99.830
1.11608
-0.00138
-0.12%
1.12024
1.11241
1.33713
-0.00406
-0.30%
1.34269
1.33594
2658.36
-13.88
-0.52%
2674.21
2643.01
68.421
+1.157
+ 1.72%
68.442
66.867
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[CCData: The Fed's Rate Cuts This Year Are Expected To Result In A Total Reduction Of $1.5625 Billion In Stablecoin Interest Income] According To Cryptonews, The Federal Reserve Recently Decided To Cut Interest Rates For The First Time Since March 2020, Which Is Expected To Affect The Revenue Streams Of The Five Major Centralized Stablecoins. According To A Report Released By CCData On September 27, These Stablecoins Hold A Total Of Nearly $125 Billion In U.S. Treasuries, And For Every 50 Basis Points (bps) In Interest Rate Cuts, They Could Lose About $625 Million In Interest Income. The Report Shows That U.S. Treasuries Account For 80.2% Of The Reserves Held By Major Stablecoins. Data From The Chicago Mercantile Exchange's FedWatch Tool Show That The Market Expects Interest Rates To Be Cut By A Total Of 75 Basis Points By The End Of 2024, Including A 50 Basis Point Cut In November And Another 25 Basis Point Cut In December. If These Predictions Come True, Stablecoins Could Face An Additional Loss Of $937.5 Million In Revenue, Bringing The Total Potential Losses From The Fed's Loose Policy To $1.5625 Billion. Among The Affected Stablecoins, Tether’s USDT Holds The Largest Share Of U.S. Treasury-backed Reserves, Totaling $93.2 Billion, Including U.S. Treasuries And Repurchase Agreements. It Is Followed By Circle’s USD Coin (USDC), Which Holds $28.7 Billion In U.S. Treasuries Through The Circle Reserve Fund. Other Stablecoins Such As First Digital USD (FDUSD), PayPal USD (PYUSD), And TrueUSD (TUSD) Hold Smaller Treasury Positions Of $1.83 Billion, $634 Million, And $502 Million, Respectively. Despite These Potential Financial Setbacks, The Stablecoin Market Has Shown Resilience. According To CCData Data, In September, The Total Market Value Of Stablecoins Increased By 1.50% To $172 Billion, Marking 12 Consecutive Months Of Growth

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[Forbes: FTX Bankruptcy Proceedings Are Expected To Inject A Large Amount Of Funds Into The Market In Q4, And The Total Amount Of Creditor Distribution May Be As High As $16 Billion] According To Forbes, What Further Adds To The Positive Outlook For The Trend Of The Crypto Market In The Fourth Quarter Is That The Ongoing FTX Bankruptcy Proceedings Are Expected To Inject A Large Amount Of Funds Into The Market In The Fourth Quarter. It Is Expected That The Total Amount Of Creditor Distribution May Be As High As $16 Billion And Will Begin In Early October. Although Rumors Of Immediate Payment On October 1 Remain Speculation, Its Latest Press Release Confirms That The Final Voting Results Will Be Announced Before The Confirmation Hearing On October 7, 2024. Given That More Than 95% Of The Voting Creditors Initially Support FTX's Revised Reorganization Plan, The Plan Aims To Repay Bankruptcy Claims In Full. These Payments Will Be Made In US Dollars, Most Of Which Are Expected To Flow Back Into The Market, And Bitcoin Is Expected To Receive The Largest Share. In Addition, The Article Analyzes That Factors That Are Favorable To Bitcoin's Trend In The Fourth Quarter Include The US SEC's Rapid Approval Of IBIT's Options Trading Months In Advance And The Support Of More Relaxed Global Monetary Policies. The Article Stated That These Factors Together Indicate That The Bitcoin ETF May Regain Momentum And See Record Inflows Before The End Of The Year. As Price Action Begins To Align With ETF Flows, Conditions Are Ripe For Bitcoin To See An Extremely Bullish Run Before The End Of 2024

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[Swell Will Launch A Private Testnet Beta Version Before Launching Swell L2] Liquidity Re-staking Platform Swell Announced That It Will Launch A Private Testnet Beta Version Before Launching Swell L2 To Allow DApp To Release Some Cooperative Integrations. Officials Said That This Is A Way To Test The Stability Of L2, And It Is Also Intended To Put Some Integrations Online And Show Users The Results Of Its Cooperation With Partners

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