News

According to a report by Jinse Finance, Tom Wan, Head of Data Analytics at Entropy Advisors, released a chart showing that the market capitalization of USDe has reached $13 billion. Excluding Ethereum, the combined market cap of USDe on other chains is less than 4%. Possible reasons include: lack of secondary market liquidity for acquiring sUSDe, absence of Pendle markets/PTs and YTs, and unsupported looping in lending markets. DRIP has already changed or will change the above situation for Arbitrum, and has already increased the market cap of USDe by 6 times.

Jinse Finance reported that according to a Reuters survey of 107 analysts, almost all believe that the Federal Reserve will cut interest rates by 25 basis points on September 17, as the impact of a weakening job market outweighs inflation risks. Most analysts expect further rate cuts in the next quarter. Stagnant job growth in August, coupled with a significant downward revision of employment data for the 12 months ending in March, has prompted many economists to lower their forecasts and believe that the Federal Reserve may implement more rate cuts than previously expected. The market has fully priced in a rate cut in September, and now expects three rate cuts this year, compared to only two just a few weeks ago. Michael Gapen, Chief US Analyst at Morgan Stanley, stated: “The Federal Reserve now has four consecutive months of evidence showing a slowdown in labor demand, and this trend appears to be more persistent... In short, the current level of inflation should be temporarily ignored, and policy should be eased to support the job market. However, we believe the likelihood of a 25 basis point rate cut in September is higher than that of a larger cut.”