KEYTAKEAWAYS
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Fed may deliver only a 25 bps cut in September, with Powell signaling caution, potentially cooling crypto market optimism.
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Pump.fun captures 87.3% Solana token issuance market share, far outpacing rivals, boosting ecosystem activity but raising concentration risks.
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US spot ETH ETFs hold 6.3M ETH (5.1% of supply), signaling strong institutional demand and reduced circulation, supportive for long-term price growth.
CONTENT
FED RATE CUT EXPECTATIONS MAY COOL DUE TO JACKSON HOLE MEETING
In a report, Russell Investments’ Global Chief Investment Strategist Aitkenman stated that the outcome of the upcoming Jackson Hole meeting may differ from market expectations. He noted that Fed Chairman Powell’s speech may not be as dovish as expected and said a September rate cut is “possible,” with a likely cut of 25 basis points, not 50.
ANALYSIS
Aitkenman’s comments suggest Powell could strike a cautious tone, tempering expectations for aggressive easing. A smaller cut of 25 bps instead of 50 bps may dampen risk appetite in crypto markets, as lower rates generally support Bitcoin and Ethereum. With mixed analyst expectations on X, a conservative Powell speech could trigger short-term downside pressure for digital assets.
PUMP.FUN MARKET SHARE RISES TO 87.3% IN 24 HOURS
On August 19, according to Jupiter data, Solana token issuance platform pump.fun’s market share climbed to 87.3% over the past 24 hours, widening its lead over competitors Letsbonk (3.4%) and Bags (2.62%).
ANALYSIS
Pump.fun’s dominance highlights strong user adoption, particularly for meme coin launches on Solana. The sharp lead over rivals suggests a winner-takes-most dynamic, boosting Solana’s DeFi activity and possibly supporting SOL demand. Still, such heavy reliance on one platform raises concentration risks that could impact the ecosystem if pump.fun faces disruptions.
US SPOT ETHEREUM ETFS NOW HOLD OVER 5% OF ETH SUPPLY
On August 19, The Block reported that on-chain data shows US spot Ethereum ETFs now hold 6.3 million ETH (about $26.7 billion), representing 5.1% of Ethereum’s circulating supply.
ANALYSIS
The fact that spot ETH ETFs now control more than 5% of supply signals deepening institutional involvement. This builds on earlier treasury purchases exceeding 2% of supply, reinforcing bullish long-term demand. The reduced circulating supply could support higher prices if demand persists, though short-term impact may hinge on broader macro signals, including Fed policy outcomes from Jackson Hole.
