Crypto News

Mike · Sep 11, 2025 · 4 min read

Macro Update, Soft PPI Lifts Crypto, CPI Prints Today

What Moved the Market

August PPI fell 0.1% MoM, vs a 0.3% increase expected, YoY at 2.6%, vs 3.3% forecast.
Core PPI, excluding food and energy, declined 0.1% MoM, vs a 0.3% rise expected, YoY at 2.8%, vs 3.5% forecast.
Bitcoin jumped from $112.3K to $114.3K in about two hours, most major crypto assets posted single digit gains.

Why It Matters

PPI tracks inflation at the producer level, softer prints imply easing inflation pressure, the Federal Reserve gains more cover to cut rates, risk assets reacted accordingly.

What To Watch Today

CPI releases this morning, prints below expectations should support prices, prints above expectations should weigh on the market, volatility is likely.

Into The Next FOMC

The next Federal Open Market Committee decision is scheduled for Wednesday, September 17,
After the PPI release, markets are pricing roughly a 92% chance of a 25 basis point cut, and an 8% chance of a 50 basis point cut.

Alpha, Bitwise Flags Solana Upside

The Thesis In Brief

Bitwise CIO Matt Hougan points to a simple setup, spot SOL ETFs, corporate treasury demand, and Solana’s tech advantages, together imply upside, we agree with the direction of travel.

Catalysts To Track

Spot SOL ETFs, seven managers have filed, including Bitwise, Grayscale, Fidelity, and VanEck, the SEC could rule by October 10.
Treasury Bid, Forward Industries, ticker FORD, reportedly raised $1.65B from Galaxy Digital and others to acquire and stake SOL.
Tech Upgrade, Solana is rolling out changes that target transaction finality near 150 milliseconds while keeping fees under one cent.

Positioning Take

Hougan frames SOL today as analogous to BTC near $40K and ETH near $1,600, strong tailwinds could enable a rapid 3x scenario if catalysts align.

MYX Finance Airdrop

MYX Finance ($MYX) conducted an airdrop of 1% of its supply, valued at around $200M, which was largely exploited by sybil addresses.
The team acknowledged the issue and pledged to improve protections against future sybil attacks.

SEC Delays ETF Decisions

The US SEC postponed decisions regarding Ethereum ($ETH) staking ETFs, stating it requires more time to review applications.
Decisions on Franklin Templeton's spot ETFs for Ripple ($XRP) and Solana ($SOL) were also delayed.

Hyperliquid Stablecoin Governance

Native Markets led the $USDH stablecoin governance vote with approximately 38% support from 8 validators.
Paxos followed with 12% from 3 validators, and Ethena ($ENA) with 8% from 2 validators.
About 42% of voting power, represented by 6 validators, has yet to cast a vote.

OpenEden Proposal

OpenEden submitted a proposal related to the Hyperliquid $USDH stablecoin.
The plan involves issuance via a Bermuda-based entity, collateralized with T-bills held at BNY Mellon.
It offers around 4% yields for HYPE buybacks, plus 3% incentives in $EDEN.

VanEck ETF Filings

VanEck is preparing to file for a Hyperliquid ($HYPE) staking ETF in the US.
The firm also plans to introduce a similar ETP in the European Union.

Polygon Hard Fork

Polygon ($POL) completed a hard fork to address a finality bug.
The issue had been causing 10–15 minute delays in block milestone confirmations.

Linea Outage

Linea ($LINEA) experienced an outage lasting about one hour.
The team attributed the issue to a sequencer problem triggered after a large bundle was submitted via eth_sendBundle.

Scroll DAO Governance Pause

Scroll ($SCR) DAO announced a temporary pause in governance activities.
Co-founder Haichen Shen stated the team is currently redesigning governance structures.

Binance and Franklin Templeton Partnership

Binance entered a partnership with Franklin Templeton to develop tailored digital asset initiatives.
The collaboration aims to deliver institutional-grade solutions for a wide range of investors.

Kraken xStocks Launch

Kraken introduced xStocks for European customers.
Initially launched on Solana ($SOL), the service is expected to expand to Ethereum ($ETH), Solana ($SOL), and BNB Chain.

By Mike

Wolfy Wealth - Crypto Insights

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