Initial SNARKtor Integration Begins in ZkEVM Testnet

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Fed Chairman Powell's speech at the Jackson Hole meeting became a strong catalyst for the Crypto Assets market. His dovish stance sparked market expectations for Liquidity easing, which subsequently triggered a wave of rises in the Crypto Assets. Bitcoin rose by 3.15% in just one hour, breaking through the important threshold of $116,000. Meanwhile, other major Crypto Assets such as Ethereum also followed suit, and the entire market is showing a long-awaited strong upward trend. The core logic of the market reaction this time is based on expectations for future monetary policy easing. Powell mentioned economic risks in his speech, which led the market to generally believe that the Fed will start a rate-cutting cycle. Futures market data shows that the likelihood of a 25 basis point rate cut in September has already exceeded 70%. Rate cuts typically mean increased market liquidity, which is a positive signal for crypto assets that are viewed as high-risk. From a technical analysis perspective, Bitcoin breaking through the key resistance level of $116,000 is significant. This may indicate a strengthening of bullish sentiment in the market, potentially initiating a new upward trend. At the same time, Ethereum is supported by sustained accumulation from institutional investors, further boosting overall market sentiment. However, investors should remain cautious. Although Powell's remarks conveyed positive signals, the Fed's policy direction will still depend on future economic data, especially changes in inflation and employment data. Considering the inherent high volatility of the Crypto Assets market, if policy expectations change in the short term, coin prices may experience significant fluctuations. In the long run, a shift in Fed policy does indeed constitute a positive for the encryption market. A low interest rate environment typically benefits risk assets, and ample liquidity may attract more traditional funds into the encryption market. Coupled with increasing institutional acceptance and the potential launch of ETF products, the long-term outlook for the Crypto Assets market is worth noting. Overall, Powell's speech has opened up space for a rise in the crypto market, but investors need to closely monitor policy trends while seizing opportunities and managing risks.

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