Odaily Planet Daily reports that SOFR option traders are hedging against the prospect of a deeper Federal Reserve rate cut in September. According to data from the New York Federal Reserve, the secured overnight financing rate was 4.36% on the previous trading day, up from 4.34% the day before. The effective federal funds rate was 4.33% on the previous trading day, up from 4.33% the day before. (Jinshi)

Odaily Planet Daily News: Standard Chartered Bank raised its year-end target price for Ethereum from $4,000 to $7,500 on Wednesday, citing improved industry participation and increased Ethereum holdings in recent months. The new target price represents a premium of nearly 60% over Ethereum's more than three and a half year high of $4,700 set on Wednesday. As the world's second-largest cryptocurrency, Ethereum has become a top choice for investors seeking higher returns. Unlike Bitcoin, which relies solely on price appreciation, Ether can be used for staking - holders lock up tokens to support the Ethereum network and receive rewards. Over the past four weeks, Ether prices have soared by more than 50%, driven by the passage of the Genius Act. The bill aims to establish a regulatory framework for stablecoins pegged to the US dollar, and the market expects this to increase their acceptance, thereby driving up the prices of crypto assets including Ether. Geoff Kendrick, head of digital asset research at Standard Chartered Bank, said: "We expect the stablecoin industry to grow approximately eightfold by the end of 2028, which will have a significant direct impact on fees on the Ethereum network." Most stablecoins are issued and traded on the Ethereum blockchain, which has driven up demand for Ether to pay transaction fees. (Jinshi)

Odaily星球日报讯 Coinglass数据显示，过去4小时全网爆仓金额达1.06亿美元，其中空单爆仓7336.90万美元，多单爆仓3292.52万美元。

According to Odaily Planet Daily, Bernstein analysts led by Gautam Chhugani stated that despite investor concerns about the potential entry of competitor Tether into the US market, new stablecoin competition, and interest rate pressure, stablecoins with greater liquidity and stricter regulation will become the dominant stablecoin network, and Circle's USDC will ultimately prevail. Therefore, they reiterated their target price of $230 for the company's stock, a 40% increase from current levels. (The Block)

According to Odaily's OKX market data, BTC has broken through 122,000 USDT and is now trading at 122,006.6 USDT, a 24-hour increase of 2.68%. (This newsletter was generated with AI assistance.)

Odaily星球日报讯 Coinglass数据显示，过去1小时全网爆仓5326.14万美元，其中空单爆仓3735.53万美元，多单爆仓1590.61万美元。