I. Attention Value - Market Highlights
1. Market Trends
（1）Macro Domain:
l CPI Data Mixed
The US Bureau of Labor Statistics released the latest CPI data last night, showing that the consumer price index rose 2.5% in August, lower than the expected 2.6% and lower than the 2.9% in July, in line with expectations and also the lowest level since March 2021. The August core CPI year-on-year growth rate, excluding food and energy prices, was 3.2%, in line with the expected value and the previous value, but the core CPI month-on-month was slightly higher than expected at 0.3%, slightly exceeding the expected monthly CPI data, reducing the likelihood of the Fed cutting rates by two points this year. After the CPI data was released, the market believes that the probability of the Fed cutting rates by one point this month has risen from 66% yesterday to 85%, and the probability of cutting rates by two points has dropped to 15%.
（2）Web3 Domain:
l Accelerated Inflows into Bitcoin ETFs
US BTC and spot Ether ETFs have recently seen new capital inflows, suggesting a potential shift in market sentiment. The BTC ETF saw significant investment flows on September 10, avoiding consecutive outflows. While the Ether ETF faces different issues, it has also stopped the five-day capital outflow. These inflows come at a time when institutions are in a wait-and-see mode for Crypto assets, and even as BTC attracts more capital, Ether seems to be losing its dominance.
In addition, global Crypto asset ownership statistics paint a complex picture for the future market direction. Data shows that the spot BTC ETF attracted nearly $117 million on September 10, up 400% from $37.29 million the previous day.
Interestingly, these figures align with the "2024 Global Crypto Asset Landscape Study" released by Gemini. The survey shows that Crypto asset ownership in France surged from 16% to 18%, while in the US and UK it was 21% and 18% respectively. In contrast, Singapore's ownership rate has slightly declined from 30% to 26%.
2. Hot Events
（1）Macro Domain:
l Buffett's "Right-Hand Man" Slashes US Stock Holdings! Ajit Jain, Berkshire's Main Deputy, Reduces Holdings by More Than Half
On Thursday, it was reported that Ajit Jain, Vice Chairman of Berkshire Hathaway's insurance business, sold $139 million worth of Berkshire Class A shares, reducing his holdings by more than half. According to regulatory filings, Ajit Jain sold 200 shares of Berkshire Class A at around $695,418 per share. This sale means he still holds a total of 166 shares of Berkshire Class A, of which 61 are directly owned by him.
（2）Web3 Domain:
l BA Labs Proposes for Sky to Gradually Vote to Unwind wBTC Collateral Exposure
On September 13, according to a governance article on Thursday, the rebranded MakerDAO protocol Sky will vote to completely remove wBTC from its ecosystem, which could be a major development in DeFi, as the platform has $200 million in wBTC-collateralized loans. BA Labs, a DeFi risk management firm, is a influential figure in the Sky protocol governance, and had previously proposed reducing exposure to wBTC, citing concerns over Tron founder Justin Sun's involvement in the underlying asset custodian. On Thursday, BA Labs proposed a five-step gradual unwinding of all wBTC collateral exposure, starting on September 26. Each step will be voted on. "We found that legal due diligence could not provide sufficient assurance," BA Labs said in its proposal.
Donald Trump announced that his crypto project World Liberty Financial will officially launch on September 16. He stated on his official X account that the project aims to "embrace the future of crypto" and "abandon outdated big banks". Trump actively embraced crypto during his campaign and promised to fire SEC chairman Gary Gensler and prevent the US from selling 213,000 Bitcoins if re-elected as president. The project will be based on the decentralized finance platform Aave and the Ethereum blockchain, and will revolve around a "credit account system". Dolomite co-founder Corey Caplan has been appointed as an advisor to the project, and it will collaborate with top security experts to ensure user safety. Two days ago, the X accounts of Lara and Tiffany Trump were hacked, posting related token information. Congresswoman Maxine Waters has criticized the project.
3. Hot Narratives
Last night, Binance announced the launch of the 58th project on Launchpool, Hamster Kombat (HMSTR), a P2E game based on a Telegram mini-program platform that simulates a crypto exchange CEO. From Notcoin (NOT) to Toncoin (TON), DOGS, and now HMSTR, Binance has been actively involved in the Ton ecosystem, once again sparking market attention.
Hamster Kombat is a crypto exchange CEO simulator game built on the Telegram mini-program platform. HMSTR is the native utility token of Hamster Kombat, used for the following functions:
In-game currency: Purchasing in-game items (e.g. character skins), upgrades and services (e.g. premium support, community tools, and SDK for game developers).
Exclusive access: Access to limited-time events, squad activities, PvP battles, and live events.
As of September 12, 2024, the total supply of HMSTR is 100,000,000,000, with an initial circulating supply of 64,375,000,000 (~64.38% of the total token supply) at launch.
In Hamster Kombat, players control a hamster managing a crypto exchange from startup to industry leader, bringing a sense of realism to the crypto community through the game's narrative. The core gameplay of Hamster Kombat revolves around the player (as the hamster) playing the role of the exchange CEO. Similar to its predecessor Notcoin, players only need to click to make game decisions, which can earn them tokens. These tokens can be used to obtain operating licenses, establish partnerships, and upgrade products, helping to increase the value of the exchange. Ultimately, the more the exchange grows and the better the CEO's performance, the greater the opportunity to earn HMSTR tokens. In addition, the Hamster Kombat bot also includes staking and farming elements, allowing players to earn passive income by staking tokens within the game ecosystem.
This game seems to have come out of nowhere. In March this year, it launched on TON (aka The Open Network), a Web3 ecosystem built on Telegram. The founders of Hamster Kombat are anonymous, claiming to have over 200 million users; they have 11 million followers on Twitter/X and 31 million subscribers on their YouTube account.
4. Potential Catalysts
According to Mars Finance news, as reported by Cointelegraph, the UK High Court has ruled in a case brought by a fraud victim that the stablecoin USDT is a form of property, with the stolen crypto assets including USDT. Deputy High Court Judge Richard Farnhill stated that "USDT is a rather unique form of property, not premised on underlying legal rights, which can be the subject of tracing and can constitute trust property like any other property."
II. Attention Value - Trending Projects
1. Social Media Trends
Ethereum is a decentralized, open-source blockchain platform with smart contract functionality. With the continuous development of Ethereum 2.0 and Layer 2, it has become one of the most widely used blockchains. In July this year, the Ethereum spot ETF was officially approved for listing and trading. Although reduced revenue and whale exits have led to a large recent decline in $ETH, the market remains generally optimistic due to its low inflation rate and strong development capabilities.
Key Projects:
· ARB
Arbitrum is a Layer 2 scaling solution based on Ethereum, aimed at increasing blockchain transaction speed and reducing fees. Since its launch in 2021, Arbitrum has quickly become an important infrastructure in the Web3 space. The core of its technology is the "Rollup" technique, which packages a large number of transactions and processes them on the Ethereum mainnet, thereby achieving higher transaction throughput and lower latency.
On August 31, 2024, Arbitrum One celebrated its third anniversary. Over the past three years, the project has grown into an industry giant in the L2 and Web3 space: its TVL has surpassed $14.75 billion, leading the L2 sector, with over 36 million unique addresses and more than 2,000 ecosystem projects, making it one of the largest and most vibrant L2 ecosystems. Recently, the leading blockchain and token infrastructure platform Paxos announced its expansion to Arbitrum One, and the project's new feature Stylus mainnet has been launched, allowing smart contracts to be written in Rust, C, and C++.
2. Smart Money Positioning
· Smart Money Holding
Source: ChainEDGE, Dot Labs
Project Introduction:
1. CAT(@SimonsCatMeme /X)
Simon's Cat Token ($CAT) is an emerging meme token based on the popular animated brand "Simon's Cat". The token was officially launched on the BNB Chain on August 8, 2024, aiming to leverage the brand's widespread influence on social media to attract cat lovers and cryptocurrency investors.
2. HARAMBE(@harambeonsolana /X)
$HARAMBE is a MEME token based on the image of the famous internet gorilla Harambe. The goal of this token is to commemorate Harambe through social media promotion and user engagement, and to contribute to related charitable causes.
· Smart Money Inflow
Source: ChainEDGE, Dot Labs
Project Introduction:
1. NMT(@NetmindAi /X)
NetMind.AI is a decentralized AI computing platform that aims to provide an open and collaborative AI ecosystem by integrating Web3 technologies. The core product of the project is NetMind Power, a distributed computing platform that utilizes global idle GPU resources, enabling individuals and small businesses to access powerful AI computing capabilities at low cost.
2. MUMU(@mumu_bull /X)
Mumu The Bull ($MUMU) is a meme coin project based on the Solana blockchain, inspired by a bull named Mumu. Mumu's character is set to battle against Bobo, the bear representing bearish market sentiment, in an attempt to regain control of the market sentiment. Mumu's goal is to restore the bullish sentiment in the market and resist the bearish trend represented by Bobo.
III. Attention Value - Sector Rotation
1. Hot Sectors
Source: Dune, Dot Labs
Source: Dune, Dot Labs
2. Sector Rotation
Source: Dune, Dot Labs
