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Institution: Cryptocurrency plummeted, the market is still digesting Powell's hint of a rate cut last week

BlockBeats news, on August 28, cryptocurrencies plummeted this morning. Institutional analysis believes that major tokens are digesting the boost they received last week from Federal Reserve Chairman Powell's hint that the Federal Reserve will lower its benchmark interest rate from a high point in more than two decades. (Jinshi)

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On-Chain Activity

3h ago

A whale purchased 3,009 BTC worth approximately $228 million after over a year of inactivity.

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A new address heavily invested in ETH has once again increased its position by 3,500 ETH.

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Pump.fun transfers another 76,000 SOL to Kraken

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Morgan Stanley transferred nearly 9,300 SOL to Coinbase in the past two days, suspected of selling.

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The Coinbase Bitcoin Premium Index has recorded negative values for 44 consecutive days, with purchasing power in the U.S. market continuing to languish in the doldrums.

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