Todays Top Stories

Fed Cuts Rates By Half a Point

Yesterday saw the much-anticipated FOMC meeting we had all been waiting for. The burning question on everyone's mind was whether it would be a 0.25 or 0.5 bps cut, with the latter being the one Mr. Powell ultimately opted for.

However, the Federal Reserve's decision to cut interest rates further than expected signals growing economic concerns. Some on the more extreme end of the spectrum believe this may even signal a looming depression.

For Bitcoin, this development introduces both opportunities and risks. Historically, rate cuts weaken the dollar, often boosting Bitcoin as a hedge against inflation. However, the aggressive nature of this cut could lead to heightened volatility in the crypto market.

As many of us already understand, while Bitcoin may face short-term turbulence, its long-term appeal as a decentralized, inflation-resistant asset remains strong, especially as central banks continue to increase the money supply to counter economic weakness.

Trump Makes Payment with Bitcoin

U.S. Presidential candidate Donald Trump made history yesterday by becoming the first president to officially make a payment for goods using Bitcoin. Trump was visiting the crypto-themed Pubkey bar in New York, where he paid the tab for cheeseburgers for the entire restaurant.

We already have pizza sats—will we soon have sat hunters digging through this transaction to make “cheeseburger sats” a collector’s item?

Daily Alpha | Inside Singapore 2049

Last night, the crème de la crème of the Ordinals ecosystem gathered for The Bitcoin Masquerade. They shared drinks, engaged in collaborative conversations, and even showed off a few dance moves against the stunning backdrop of statues displayed at XM Studios.

Maybe in a few years, they won’t just have images, but actual sculptures—perhaps even of Pizza Ninjas standing beside the award-winning Marvel statues!

And tomorrow marks another day where the BTC ecosystem takes centre stage!

Of particular interest will be the buzz surrounding Runes 2024, especially amid the mixed market conditions for this emerging BTC-native token protocol. You can count on us to keep you updated how it is received.

TAP Implements Account Abstraction

While Ethereum Layer 1 has yet to implement account abstraction, Tap Protocol has already achieved this groundbreaking feature on Bitcoin’s L1.

But what exactly is account abstraction?

In short, imagine a gaming experience where players automatically earn rewards or access special items without repetitive transaction confirmations. This frictionless interaction is a game-changer for Bitcoin, making decentralized apps more user-friendly and enhancing Bitcoin’s utility beyond a mere store of value.

Check out this post from TAP’s Head of Marketing, Fitzy, for a full rundown and a link to a game that utilizes this tech.

Unchained Art | Todays Editors Pick

Daily Bites

Todays Markets

Bitcoin has taken a nice bounce since yesterday’s issue following the news of the rate cut. It’s now sitting at just over $63K at the time of writing, up a solid 9% on the week—6% of that in just the past 24 hours.

Will this bullishness continue? Or is it just an expected reaction that will fade in the coming days? Landy shares his thoughts below:

Chart of the Day

^{by @CryptoLandy}

Ordinals

The Puppets are in the spotlight today with a 5% increase in both their floor and sales volume over the past 24 hours. Bitmap appears to be staging a comeback, likely due to the buzz surrounding the imminent launch of the TAP protocol.

Taproot Bitches have crept into the top 5 after the news that Taproot Witches are delaying their mint, making it a cheap beta play at around $16.

Runes

Nothing but green! Rune believers were thrilled this morning to see a strong upward movement in the top Runes. In particular, Billion Dollar Cat has surged an astonishing 66% since yesterday!

The top 5 remain unchanged, with Decentralized notably holding its position despite uncertainty surrounding its future.

Todays Opportunities

ExtraOrdinals Whitelisted mints this week

There are currently no mints taking place today, but check back tomorrow for what’s next so you don’t miss out.

Current Giveaways

For all our ExtraOrdinals out there, don’t forget to join our giveaways in Discord!

Currently, we have the following raffles running:

• Inscripedia (GTD and FCFS) - Ends 20th Sept 14:23 EST

More giveaways are expected soon, so join the Discord below and try your luck asap!