Fed official Daly stated that uncertainty remains regarding whether an interest rate cut will take place in September. She noted that fewer than two rate cuts this year could happen, but emphasized that a scenario requiring additional rate cuts is more likely. Daly also highlighted that while the labor market is not critically weak yet, it is softening, and further weakening would not be desirable. Additionally, she stressed that the Fed cannot wait until it is completely certain that inflation is temporary, emphasizing decisions must be made based on the most likely scenario.
Block production on the Base network halted for approximately 25 minutes. During the outage, no new blocks were produced, but the network returned to normal operations shortly afterward.
At the time of writing, Bitcoin (BTC) is trading at $114,169, while Ethereum (ETH) is trading at $3,645.
The Fear and Greed Index currently stands at "55," indicating a neutral sentiment.
Important developments to watch throughout the day:
Floki (FLOKI): Launch of the Rice AI platform and a joint $RICE airdrop with TokenFi. Stellar (XLM): Live AMA session featuring participation from SDF leaders.
