Binance Morning Post (September 9)

● Nasdaq proposes amendment rules to allow tokenized securities trading According to Foresight News, Nasdaq has submitted a proposal to the U.S. Securities and Exchange Commission to amend the rules to allow trading of securities listed in traditional digital or tokenized forms on the Nasdaq Exchange. ● QCP Capital: Crypto market maintains independent market under Fed's expectation of interest rate cuts According to BlockBeats, QCP Capital released a report saying that after non-farm employment data were inferior to expectations, stock futures rose, and two-year U.S. Treasury yields fell to a new year low. The market bets on a 72 basis point rate cut this year. However, expectations of a Fed rate cut have not affected the crypto market. Despite the rebound in stock markets and gold hit new highs, cryptocurrencies continued to consolidate sideways. Risk reversal indicators show a surge in demand for put options, but there are also opinions that this shows resilience of crypto assets. QCP Capital pointed out that the market performed cautiously before the release of U.S. inflation data, with high short-term implied volatility. If inflation data is higher than expected, it may complicate the Fed's path to cut interest rates. The Trump administration is less likely to escalate trade frictions. ● Grayscale submits Chainlink ETF S-1 application to the US SEC According to Shenchao TechFlow, on September 8, Grayscale submitted the Chainlink ETF's S-1 application documents to the U.S. Securities and Exchange Commission (SEC). ● NFT sales fell to $91.96 million, a new low since mid-June NFT sales fell to $91.96 million in the first week of September, the lowest since mid-June, according to Cointelegraph. Previously, weekly sales in July and August never fell below $115 million. From July 21 to 27, weekly sales of digital collectibles reached $170 million, the third highest this year. Last week's downturn brought sales back to June 16-22 levels, when sales were $90 million. From September 1 to 7, the number of NFT independent buyers was 199,821, a 58% decrease from mid-June. The number of independent sellers also fell 43% to 145,877. Despite the decline in trading volume, the total number of transactions remained at 1.27 million, showing continued trading activity. The average sales price in August was $104 and fell to $72 in early September. DappRadar analyst Sara Gherghelas said strong performance in July and August was attributed to increased adoption of NFTs. ● Matrixport: Trump's power may reshape the Federal Reserve, and crypto funds flow into tokenized gold According to BlockBeats, Matrixport released market views that the United States has issued $1.2 trillion in new debt since the U.S. Congress approved a $5 trillion debt ceiling increase, which is one of the key factors driving gold's rise. Another factor is Trump's growing influence on Fed decision-making, who is actively pushing his preferred candidates into the Fed, who are likely to take the Fed majority soon. At the same time, cryptocurrency traders are increasingly allocating tokenized gold, constantly injecting new capital into this asset, and reestablishing gold's position as a viable asset class. As gold is closely related to Bitcoin, traders will continue to seek other means of store of value, especially as confidence in U.S. fiscal discipline continues to be under pressure.