New Fire OTC Trading Volume Increased by 257% in July

The Federal Reserve's FOMC meeting maintained the federal funds rate at 3.50%-3.75% with a 9 to 3 vote. Chair Powell reiterated the commitment to the 2% inflation target, while three members advocated for a 25 basis point rate hike, which the market interpreted as a hawkish stance. Following the meeting, the CME FedWatch indicated that the probability of a rate hike in September dropped from nearly 80% to about 65%. Major cryptocurrencies like Bitcoin saw a slight rebound, and market sentiment warmed moderately. New Fire Research Institute pointed out that energy prices remain the largest uncertainty variable; if the US-Iran conflict continues, inflationary pressures may again be transmitted to interest rates. Institutional capital inflow willingness is accelerating, with New Fire Group's OTC trading volume in July reaching a historical high, increasing by 257% compared to June. Weekly trading volumes in July significantly grew compared to the same weeks in June, with trading volume around the FOMC meeting increasing by approximately 79% compared to the same week in June. The market will focus on energy price trends and Federal Reserve policies. After the launch of Robinhood Chain, the on-chain TVL rose to about $325 million, and the daily trading volume on the on-chain DEX averaged around $553 million, indicating that real usage demand has not disappeared due to macro pressures.

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