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According to Gate Ventures' latest weekly report, global markets were significantly pressured last week due to inflation data and rising energy prices. The S&P 500 index initially broke through 7,500 points for the first time, but subsequently fell back as both CPI and PPI data exceeded expectations, leading the market to begin pricing in potential interest rate hike risks. Against this backdrop, the cryptocurrency market also weakened, with BTC dropping 8.1% last week and ETH falling 10.2%. The spot BTC ETF recorded a net outflow of $1 billion, and market sentiment returned to the "panic" range.At the industry level, institutional investments in stablecoins and on-chain financial infrastructure are accelerating. JPMorgan is advancing a tokenized money market fund aimed at stablecoin issuers; DTCC will use Chainlink to build an all-weather collateral management network; Hana Bank has acquired a stake in Upbit operator Dunamu for $670 million, further reflecting that traditional financial institutions are accelerating their entry into the cryptocurrency infrastructure sector.In terms of investment and financing, a total of 14 financing deals were completed last week, with a total scale of $1.113 billion, of which financing in the infrastructure sector exceeded $1 billion, dominating the market. Blockchain analytics firm Elliptic completed a $120 million financing round, with Deutsche Bank and Nasdaq participating; Bitcoin custody platform Onramp also completed a $12.5 million Series A financing, continuing to expand its institutional-grade custody infrastructure. Overall, in the context of rising macro uncertainty, market funds continue to concentrate on compliance, custody, and institutional-grade services.

According to Coinglass data, Binance had a net inflow of 129 million USDT in the past hour.

According to data from CryptoQuant, the participation of retail investors (holding less than 1 BTC) in the Bitcoin market is continuously declining, almost "disappearing" from on-chain active addresses. Currently, the monthly average inflow of BTC from retail investors on Binance has dropped to a historical low of only 314 BTC.

According to SoSoValue data, yesterday (Eastern Time May 18), the total net inflow of the SOL spot ETF was $2.0552 million.Among them, the Fidelity Solana Fund ETF (FSOL) had a net inflow of $2.9823 million for the day, with a historical total net inflow of $174 million. The VanEck Solana ETF (VSOL) had a net outflow of $1.1233 million for the day, with a historical total net inflow of $17.6874 million.As of the time of writing, the total net asset value of the SOL spot ETF is $95.7 million, with a SOL net asset ratio of 1.95%, and the historical cumulative net inflow has reached $1.117 billion.

According to SoSoValue data, yesterday (Eastern Time May 18), the total net inflow of the XRP spot ETF was $750,400. Yesterday, only the Franklin XRP ETF (XRPZ) had a net inflow of $750,400, bringing the historical total net inflow to $379 million.As of the time of writing, the total net asset value of the XRP spot ETF is $1.142 billion, with an XRP net asset ratio of 1.33%, and the historical cumulative net inflow has reached $1.386 billion.

According to SoSoValue data, yesterday (Eastern Time May 18), the HYPE spot ETF had a total net inflow of $4.418 million.The HYPE spot ETF with the highest net inflow yesterday was the 21Shares Hyperliquid ETF (THYP), with a net inflow of $2.3734 million for the day, bringing its historical total net inflow to $12.901 million.Next was the Bitwise Hyperliquid ETF (BHYP), with a net inflow of $2.0446 million for the day, bringing its historical total net inflow to $2.0446 million.As of the time of publication, the total net asset value of the HYPE spot ETF is $185.854 billion, with a net asset ratio of 0.17%, and the historical cumulative net inflow has reached $69.428 billion.

According to Jinshi reports, the CICC research report points out that several recent U.S. inflation data have exceeded expectations, the employment market is stabilizing, and there has been a sell-off in bonds, intensifying market concerns about inflation. It is expected that the U.S. PCE inflation will remain above 3.5% for the year, with core PCE inflation above 3%, both significantly higher than the Federal Reserve's 2% policy target. Against this backdrop, the Federal Reserve's policy stance will be more cautious, and further interest rate cuts may be difficult within the year.

According to Jinshi reports, Federal Reserve's Goolsbee stated that if interest rates are cut too much, it will further trigger inflation.

According to Jinshi reports, Federal Reserve official Goolsbee stated that under the current economic situation, the Federal Reserve is facing excessive inflationary pressure.

According to Coinglass data, Binance had a net inflow of 34,707,700 USDT in the past hour.

According to Coinglass data, Binance had a net inflow of 33,157,400 USDT in the past hour.

According to SoSoValue data, the net inflow for SOL spot ETFs during the last trading week (Eastern Time from May 11 to May 15) was $58.1181 million. The SOL spot ETF with the highest net inflow last week was the Bitwise ETF BSOL, with a weekly net inflow of $41.3719 million, and the historical total net inflow for BSOL has reached $903 million.The second was the Fidelity ETF FSOL, with a weekly net inflow of $10.3854 million, and the historical total net inflow for FSOL has reached $171 million. As of the time of writing, the total net asset value of SOL spot ETFs is $1.01 billion, and the ETF net asset ratio (the market value compared to the total market value of SOL) is 1.95%, with a historical cumulative net inflow of $1.12 billion.

According to SoSoValue data, during the last trading week (Eastern Time from May 11 to May 15), the net inflow of the XRP spot ETF was $60.495 million.The XRP spot ETF with the highest net inflow last week was the Bitwise ETF XRP, with a weekly net inflow of $25.6775 million, bringing the total historical net inflow of XRP to $460 million.Following that is the Franklin Templeton ETF XRPZ, with a weekly net inflow of $21.0402 million, bringing the total historical net inflow of XRPZ to $378 million.As of the time of writing, the total net asset value of the XRP spot ETF is $1.18 billion, with an ETF net asset ratio (market value compared to total market value of XRP) reaching 1.33%, and the historical cumulative net inflow has reached $1.39 billion.

According to SoSoValue data, last week's trading days (Eastern Time May 11 to May 15) saw a net outflow of $1.039 billion from Bitcoin spot ETFs.The Bitcoin spot ETF with the highest net outflow last week was the Ark & 21Shares ETF ARKB, with a weekly net outflow of $324 million, and the historical total net inflow for ARKB currently stands at $1.39 billion. Following that is the BlackRock ETF IBIT, with a weekly net outflow of $317 million, and the historical total net inflow for IBIT currently stands at $65.78 billion.The Bitcoin spot ETF with the highest net inflow last week was the Grayscale Bitcoin Trust BTC, with a weekly net inflow of $12.604 million, and the historical total net inflow for BTC currently stands at $2.3 billion.As of the time of writing, the total net asset value of Bitcoin spot ETFs is $104.29 billion, with an ETF net asset ratio (market value relative to Bitcoin's total market value) of 6.58%, and the historical cumulative net inflow has reached $58.34 billion.

According to Jin Shi's report, DoubleLine Capital CEO Gundlach stated that investors will not see interest rate cuts at the next Federal Reserve policy meeting. He pointed out that although the market had anticipated two rate cuts this year, the inflation market is simply not cooperating. Gundlach mentioned that when the two-year U.S. Treasury yield is nearly 50 basis points higher than the federal funds rate, it is impossible to implement rate cuts. He also stated that Kevin Walsh, who has just been confirmed as the Federal Reserve Chairman, is taking office during a "difficult time" and predicted that the first digit of the next CPI index will be in the "4 range."

FOX reporter Charles Gasparino posted on the X platform that the new Federal Reserve Chairman Kevin Warsh faces a dual challenge of rising inflation and pressure from Trump for interest rate cuts right from the start of his tenure. The annualized level of consumer inflation has risen to 3.8%, the highest since May 2023, with the Iran war driving up energy prices as a major factor. Last week, the increase in wholesale prices exceeded that of consumer prices. On Friday, the futures market began to price in interest rate hikes for the year, as previous bets on rate cuts have largely faded.Warsh himself is a staunch inflation hawk. Since leaving the Federal Reserve for an academic position in 2011, he has repeatedly criticized the "loose monetary" regime of the Bernanke, Yellen, and Powell eras in op-eds, advocating for a more "restrained" policy to shrink the Federal Reserve's balance sheet. He believes that the Federal Reserve's loose policies over the years are the root cause of the current inflation pressures. However, in the face of high inflation, his room for interest rate cuts is extremely limited.Meanwhile, the Federal Reserve's rate-setting committee is no longer united. Former Chairman Powell, replaced by Trump, still retains voting rights as a board member. Powell stated that he would not leave until the dust settles on the investigation into his congressional testimony regarding the costs of the new Federal Reserve headquarters—an investigation initiated by Trump that previously delayed Warsh's appointment process. Trump is appointing Warsh while simultaneously pressuring for interest rate cuts.However, if Warsh gets his way, it would directly contradict his consistently advocated policy stance. The Iran war has entered its third month, and the situation remains uncertain; if oil prices break through $200 per barrel, the U.S. economy could face risks similar to the "stagflation" of the 1970s.

According to Coinglass data, Binance had a net inflow of 61,590,800 USDT in the past hour.

According to Coinglass data, Binance had a net inflow of 203 million USDT in the past 24 hours.

According to Coinglass data, Binance had a net inflow of 212 million USDT in the past 24 hours.