Crypto Markets Today: Bitcoin Surges Past $115K as Markets Eye Fed Rate Cut

Binance - H is currently priced at $0.3424, with a 6.97% increase over 24 hours. 24-hour transaction volume of 1.4 billion US dollars, a decrease of 97.64%, for reference only

[Ethereum Mainnet Default Gas Limit Raised to 60 Million] Ethereum ecosystem developer Nethermind announced that the default Gas limit for the Ethereum mainnet has been raised to 60 million. Nethermind v1.35.0 has been released simultaneously, with updates including improved runtime stability and other key features. Nethermind recommends all operators complete the update before the upcoming fork.

[Wrightson Predicts Fed May End Balance Sheet Reduction This Week] Analysts at research institution Wrightson predict that the Federal Reserve may announce the end of its balance sheet reduction this week. The overnight lending market has recently shown tightening financing conditions, with bank reserves nearing equilibrium levels. The Wrightson team believes this move by the Fed may aim to avoid pressure in funding markets and notes that recent warning signals from the federal funds rate could prompt the Fed to take cautious action.

[Hong Kong's First Solana Spot ETF Listed, First-Day Trading Volume HK$11.39 Million] Hong Kong's first Solana spot ETF—China Asset Management Solana ETF—was listed on the Hong Kong Stock Exchange today, becoming the third type of cryptocurrency spot ETF approved by the Hong Kong Securities and Futures Commission. On its first day of trading, the trading volume reached HK$11.39 million, with total net asset value of HK$21.29 million, equivalent to approximately 13,461 SOL. The Hong Kong dollar counter closed at a discount of -0.60%. The China Asset Management Solana ETF is issued by China Asset Management (Hong Kong) with a management fee rate of 0.99%. It supports trading in Hong Kong dollars (code 3460), Renminbi (code 83460), and US dollars (code 9460), but does not support additional yield through staking.

[Morgan Stanley Predicts Fed Rate Cuts May Weaken the Dollar] Morgan Stanley strategists stated that the Federal Reserve's rate cuts are expected to exceed those of the European Central Bank, which could lead to a weaker dollar over the next year. Factors such as the weakening of U.S. growth advantages, the lagging effects of tightening policies, declining net immigration inflows, relatively moderate fiscal support, and short-term drag from tariff policies may exacerbate pressure on the dollar. Additionally, uncertainties surrounding U.S. policies, including trade issues and the Federal Reserve's independence, may continue to impact the dollar's performance. Meanwhile, concerns about fiscal sustainability outside the U.S. are expected to ease.