Daily News | Meme Coin CAR’s Trading Volume Exceeded $300 Million Within 3 Hours of Issuance, and TSL Coin Price Fell Sharply

Crypto Daily Digest: The President of the Central African Republic is suspected of issuing coins, and analysis shows that most Altcoins have reached the top of the cycle

The market is closed over the weekend and there are no changes in crypto-related ETFs.

The President of the Central African Republic is suspected to announce the launch of the Meme Coin CAR

According to a message released by the President of the Central African Republic, Faustin-Archange Touadéra on the X platform, he announced the launch of the Meme coin CAR, calling it an “experiment aimed at uniting people, supporting national development and putting the Central African Republic on the world stage.” He emphasized that as the second president in the world to use Bitcoin as legal tender, he has always recognized the global potential of cryptocurrencies.

In addition, he stated that he was working with Platform X to restore @CARMeme_News (the account had been frozen), and confirmed that the CAR token supply had been securely locked by @streamflow_fi, in accordance with the distribution plan and release schedule.

On-chain data shows that CAR briefly broke through $0.48 and is now trading at $0.28, with a total market cap of approximately $280 million. It is not clear whether Touadéra’s account has been hacked.

CITIC Securities: Maintain the judgment that the Fed will cut interest rates twice this year

A few days ago, CITIC Securities Research Report pointed out that the number of new non-farm jobs in the United States in January 2025 was lower than expected, with healthcare services, retail and government sectors being the main contributors. The wildfires in Los Angeles and the severe cold weather in other parts of the United States did not significantly impact the overall job market. The job market remains healthy, with the unemployment rate falling, wage growth rising, and the number of downward revisions in the annual revision being smaller than the initial revision.

The Department of Government Efficiency (DOGE) led by Musk is expected to have little impact on new non-farm payroll in 2025. The non-farm data broke the market’s more optimistic sentiment after the release of the December CPI, and the expectation of interest rate cuts was postponed again. The market will focus on Trump’s tariff fog and inflation expectations. The US stock market is expected to remain highly volatile. If the January CPI or tariff plan exceeds expectations, the US bond yield and the US dollar index may rise again. We maintain our judgment that the Federal Reserve will cut interest rates twice this year, each time by 25bps.

Opinion: Most Altcoins may have reached the top of the cycle

A few days ago, Qiao Wang, co-founder of Alliance DAO, a Web3 accelerator and founder community, said on his social platform, “Maybe we have seen the top of the cycle for most altcoins, but I think BTC and a few high-quality Altcoins will still have another big rise sometime this year.”

Market Trends: CAR’s trading volume exceeded $300 million in 3 hours, and TST fell sharply after a sharp rise

Market Hotspots

The market cap of meme coin CAR exceeded $600 million, and the trading volume exceeded $300 million in 3 hours after issuance. Market information shows that the market cap of meme coin CAR, which is suspected to be issued by the President of the Central African Republic, exceeded $600 million, and is now reported at $606 million. The trading volume exceeded $300 million in 3 hours after the token was issued;

The meme coin TST on the BNB chain surged, reaching a high of $0.52, with a market cap of over $500 million, before falling sharply. Gate.io launched TST spot trading at 10:00 a.m. Beijing time on February 9, with an opening price of $0.14750. The highest increase in 24 hours was as high as 257.49%;

Previously, the top TST holding address had sold 7.65 million TST in the past 18 hours. According to data monitoring, the top TST holding address had sold 7.65 million tokens in the past 18 hours, making a profit of $1.726 million, and the profit per coin has reached $4.547 million.

Mainstream Coins

BTC continued to fluctuate, hitting a low of $94,713. It will take time for market sentiment to recover;

ETH continued to consolidate, once falling below the previous day’s low to $2,520. ETH’s market share continued to decline, currently approaching the 10% mark, and is just one step away from breaking through;

Altcoins generally fell, and the market lacked hot narratives.

Macro News: US non-farm payrolls are mixed, the market is focusing on Powell’s statement on rate cuts this week

The U.S. non-farm payroll was mixed, with the number of new non-farm jobs in January falling short of expectations, but the unemployment rate lower than expected. It is worth noting that the U.S. Department of Labor significantly lowered its past non-farm payroll figures, indicating that the U.S. labor market was not as optimistic as the market had previously expected.

Federal Reserve Chairman Powell will attend a congressional hearing this week. According to the Federal Reserve’s announcement last Thursday, Powell will testify before the Senate Banking Committee and the House Financial Services Committee on Tuesday and Wednesday respectively. The timing of the rate cut has become a focus of the market. Analysts expect Powell to emphasize that economic resilience is the key reason why the Fed is not in a hurry to cut interest rates further. Due to the good economic conditions, Fed officials also have time to assess the impact of Trump’s new administration on changes in trade, immigration and tax policies.