According to the heat ranking, ZEC's popularity has increased by 440000 followers compared to yesterday, ranking first. The heat ranking is as follows: ① ZEC （$354.93，12.11%） ② COAI （$6.01，-3.38%） ③ Binance Life ($0.2879, -2.07%) ④ ETH （$4159.38，3.83%） ⑤ GIGGLE （$187.76，-16.71%） The purchasing power of ZEC's main funds is average, with a net inflow of $48.587 million within 24 hours and a transaction volume of $4.626 billion within 24 hours, of which the net inflow of the main funds is $29.261 million.

[The People's Bank of China to Resume Open Market Operations for Government Bond Trading] At the 2025 Financial Street Forum Annual Conference, Pan Gongsheng, Governor of the People's Bank of China, announced that the People's Bank of China will resume open market operations for government bond trading. Last year, in accordance with the deployment of the Central Financial Work Conference, the People's Bank initiated secondary market government bond trading operations to enrich monetary policy tools, enhance the financial functions of government bonds, optimize the pricing benchmark of the government bond yield curve, and promote coordination between monetary policy and fiscal policy. At the beginning of the year, due to supply-demand imbalances and risk accumulation in the bond market, the related operations were temporarily suspended. Pan Gongsheng stated that the bond market is currently operating well, and the People's Bank will flexibly conduct two-way operations based on the demand for base money issuance, combined with market supply and demand as well as changes in the yield curve, to ensure smooth monetary policy transmission and financial market stability.

[Experts Predict the Federal Reserve May Cut Interest Rates Twice in 2025] John Luke Tyner, Head of Fixed Income at Aptus Capital Advisors, stated that it is almost certain the Federal Reserve will cut interest rates twice in 2025, as it focuses on signs of easing labor market and price pressures. However, the sustainability of the rate-cutting cycle in 2026 remains uncertain. The market expects the Federal Reserve to cut rates three times in 2026, with the federal funds rate potentially dropping to around 3%. The transmission of easing policies may lead to accelerated economic growth, while factors such as energy prices may bottom out and rebound, potentially driving inflation data higher.

澳大利亚加密行业对数字资产平台新法案草案表示欢迎，但认为其中不明确的定义可能阻碍创新发展。（Cointelegraph）

[Gina Bolvin: The Federal Reserve Needs to Accelerate Rate Cuts to Lower U.S. Treasury Yields] Gina Bolvin, President of Bolvin Wealth Management Group, stated that the Federal Reserve is expected to cut interest rates by 25 basis points this week and again in December. She emphasized that a significant decline in long-term U.S. Treasury yields requires clear signals indicating that the Federal Reserve is guiding rates toward the 2% target level. Bolvin warned that the main risk in the current market lies in the resilience of the labor market, which could pressure inflation through policies aimed at supporting economic growth, thereby reducing the necessity for the Federal Reserve to cut rates as much as the market expects. This could lead to a repricing in the bond market.