IntoTheBlock： This week, the total ETH fees have decreased by 50%

[Solana's Fee Market Share Drops to 9%, Hyperliquid and BNB Chain Lead L1 Blockchains] According to Defillama data, with a significant increase in derivatives trading activity, Hyperliquid and BNB Chain have taken the lead in the mainstream Layer 1 blockchain fee market, accounting for 40% and 20%, respectively. Meanwhile, Solana's market share has plummeted from over 50% at the beginning of the year to just 9%. This shift is primarily attributed to the fading memecoin trading frenzy on Solana, the lack of strong native application support, and the rapid rise of Hyperliquid and BNB Chain in the derivatives sector.

[October ADP Employment Numbers to Be Released Tonight, U.S. Economic Data May Be Disrupted for Over 60 Days] The U.S. October ADP employment numbers will be released tonight at 21:15 (UTC+8), with the previous value at -32,000 and the forecast at 28,000. This is one of the few recent macroeconomic data points available to the Federal Reserve. The U.S. Department of Labor has stated that economic data releases will be suspended until the government shutdown ends, with an expected disruption of over 60 days. This includes employment reports, unemployment rates, CPI, PPI, retail sales, and housing starts data. The Federal Reserve's rate-cutting path faces greater uncertainty.

[The White House states Trump conducted serious review before signing CZ pardon order] The White House stated that before Trump signed the pardon order for CZ, the matter had undergone the most serious consideration and thorough review process.

[Matrixport: Bitcoin Approaching Oversold Zone, But No Reversal Signal Yet] Matrixport highlighted in its daily chart analysis that Bitcoin is technically nearing the oversold zone, which is typically seen as a potential trigger point for a rebound. However, no clear reversal signals have been observed yet, and the market may need to wait for a substantial recovery. Previously, Matrixport had issued warnings about the risks of this round of pullback based on on-chain data and market structure pressures. Although the current price level may attract some investors to attempt 'buying the dip,' a more sustained trend reversal may require favorable macroeconomic factors to act as catalysts, which have yet to emerge. Meanwhile, although technical indicators like RSI may stabilize and turn upward, the market may still need to undergo further clearing of spot selling pressure to establish a more solid bottom.

[Bank of Japan September Meeting Minutes: Deflation History Influences Rate Hike Decisions] The Bank of Japan's September meeting minutes reveal that some committee members remain cautious about raising interest rates due to Japan's long history of deflation, differing from the views of two members who support a rate hike. One member emphasized that the Bank of Japan needs to differentiate itself from other central banks and anchor inflation expectations at 2%. The minutes also disclosed that Governor Kazuo Ueda faced two dissenting votes against maintaining the current interest rate for the first time. While the minutes mentioned the possibility of a rate hike in the near term, they stressed the need for more supporting data. The Bank of Japan will decide its next policy steps on December 19, with markets closely watching for signals of a rate hike and its impact on financial markets.