Odaily Report: According to GMGN data, potentially driven by its listing on Robinhood, the Robinhood Meme coin FRONG's market cap reached $17.6 million, setting a new high, and is now at $15.37 million, with a 24-hour gain of 192%.

Odaily reminds users that Meme coin prices are highly volatile, and investors should participate with caution.

Odaily report: According to Lookonchain monitoring, a wallet suspected to be associated with Cumberland (0x091D...8336) has been buying PONS daily over the past week, accumulating 8.5 million PONS worth $6.55 million withdrawn from Gate.

Odaily News: According to GMGN data, possibly influenced by its listing on Robinhood, the market cap of Robinhood Meme coin JUGGERNAUT briefly surpassed $25 million, hitting a new high, and is now at $22.63 million, with a 24-hour gain of 656%.

Odaily reminds users that Meme coin prices are highly volatile, and investors should participate with caution.

Odaily News: According to market sources, Robinhood has listed JUGGERNAUT and FRONG.

Odaily: After the release of US PPI data, US short-term interest rate futures edged lower, and markets raised their bets on a Federal Reserve rate hike.

Odaily reports that ARK Invest crypto analyst Lorenzo Valente has stated that stablecoins exhibit obvious network effects. Although thousands of stablecoins exist in the market, as market cap thresholds rise, the number of coins in each tier quickly flattens out. What truly deserves attention now are stablecoins with market caps exceeding $10 billion that are progressively advancing toward the $100 billion and $500 billion levels. Data shows that the number of stablecoins with market caps above $1 billion has only grown from single digits since 2021 to 12 at present, while the number of stablecoins with market caps above $10 billion has actually declined from its 2022 peak, with only Tether and Circle's stablecoins remaining. Valente believes that entering the $10 billion market cap club is already extremely difficult, the $100 billion stablecoin tier may be contested by only two players for a long time to come, and the $500 billion tier may see only one player reach it over the next two years or more.

Odaily News: US August PPI YoY came in at 5.4%, versus an expected 5.3%; the previous reading was revised from 4.70% to 4.8%.

US August PPI MoM came in at 0.4%, versus an expected 0.40%; the previous reading was revised from 0.00% to 0.1%. (Jinshi)

Odaily News: US initial jobless claims for the week ending September 5 came in at 206,000, versus expectations of 205,000. The previous reading was revised from 206,000 to 207,000. (Jinshi)

Odaily reports that Liquid Network announced on X platform that as of September 10 at 10:00 (UTC), the network has entered a controlled recovery phase. As a precautionary measure, the network has resumed block production but is not yet processing transactions, and is continuously monitoring to confirm full network stability. Blockstream stated that the required Functionary node and bridge node updates have been successfully deployed, and Functionary nodes are now signing and validating blocks as expected. Meanwhile, pegging operations, including PAK-authorized Peg-out, remain paused, and the network is in the final recovery phase, including restoring BTC/LBTC reserves. Liquid Network reminds users to be wary of scammers using this incident to publish fake update websites or messages, and to never transfer funds to unknown channels or disclose private keys or seed phrases.

Odaily News Analyst Killa posted on X platform that in a bull market, downside imbalances formed by strong upward moves are typically not necessarily fully filled, and bottom impact candles have historically often remained partially unfilled. He believes that after the market consolidated for about two months and then rose approximately 27%, accompanied by about $6 billion in short liquidations, there is no inevitable force driving the downside imbalance to be filled.

Killa stated that if referencing a similar pattern from 2022, at most a partial fill could occur, corresponding to Bitcoin testing the low $70,000 range, but this is not a certainty. He believes Bitcoin is unlikely to revisit the $62,600 2x long entry level, nor does he expect a return to his publicly disclosed $65,800 spot average cost. In his judgment, an extreme pullback could reach around the high $69,000 level, while support is more likely to be found in the $73,000–$75,000 range, followed by a continuation of the uptrend toward $85,000. The core point is that the existence of a downside imbalance does not mean the market must fill it.

Odaily reports that Coinbase posted on X that it is partnering with Moov to provide stablecoin infrastructure for small banks and community banks, enabling stablecoin acceptance, settlement, and real-time funding support for over 1,000 banks through these banks' existing technology stacks.