Robinhood ecosystem token HOOKR surges over 47%, market capitalization rises to $16 million.

According to Lookonchain's monitoring, five months ago, when Solana ecosystem meme coin USELESS’s market cap dropped to $30 million, well-known crypto KOL "Bonk Guy" began using a dollar-cost averaging strategy to buy the token. Over the past month, Bonk Guy has continued purchasing USELESS, and now holds 15.9 million tokens worth $2.52 million, with an unrealized profit of $1.68 million. Per GMGN data, USELESS, the Solana meme coin, rose over 50% in 24 hours, pushing its market cap above $150 million. On September 1, Bonk Guy said his bullishness on USELESS is even stronger than when he traded BONK in 2023, noting that USELESS previously surged from a $4 million market cap to $450 million in a non-bull market, and could see even larger gains if it experiences a real bull market for the first time. After Bonk Guy’s bullish call on September 1, USELESS jumped over 50% that day, breaking through the $100 million market cap mark. BlockBeats reminds users that most meme coins have no real use cases, are highly volatile, and require cautious investment.

According to GMGN market data, the meme stock coin FATCOIN on Robinhood Chain has hit a new all-time high, with its market cap exceeding $3.8 million, a 66% 24-hour gain, and a 24-hour trading volume of $3.5 million. FATCOIN (nicknamed "Fat Coin") is paired with tokenized shares of Eli Lilly (LLY), the leading U.S. weight-loss drug developer. BlockBeats Note: Stock Meme is an emerging concept that merges traditional meme coins with tokenized U.S. stocks. Unlike typical meme coins paired with USDT or ETH, these tokens form trading pairs directly with on-chain U.S. stock tokens (e.g., NVDA, TSLA, AAPL, etc.). This approach retains meme coins’ high volatility and community-driven speculative traits while tapping into the popularity and narratives of real stocks. A portion of transaction fees is often redirected to the community treasury to accumulate the corresponding U.S. stock tokens, creating a dual-driven model of "sentiment speculation + real asset anchoring". Note: Prices are highly volatile; invest with caution.

Beating AI Insight Flash News: According to a Bloomberg report, AI firm Humain plans to raise an initial $2.5 billion to establish a fund focused on data center investments. People familiar with the matter said the fund will finance the 250-megawatt data center capacity being built by Humain in partnership with Al Moammar Information Systems, with the overall scale potentially expanding to 1 gigawatt in the future. Backed by Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF), Humain is advancing local AI computing power and data center infrastructure development to meet surging demand for AI computing resources.

Fed Governor Waller shifted from potentially supporting interest rate hikes to adopting a dovish stance after his remarks. The labor market is in good shape, and he expects the August jobs report to sustain this trend. Three-month core inflation has shown "significant improvement" at an "encouraging pace". Headline and core PCE are not the best indicators for judging inflation trends. Pending revisions by the U.S. Commerce Department to estimates of non-market prices could lower the 12-month PCE by a few tenths of a percentage point. Waller noted that the next interest rate decision will "largely depend" on the August inflation data set to be released next week. "If we continue to make progress toward the 2% target, I am willing to support keeping the policy rate at its current level. But if inflation data comes in higher than expected, I will consider a rate hike. An acceleration in inflation may not prompt me to support policy tightening. If there is evidence in August that the momentum of inflation moving toward the 2% target has reversed, a small adjustment to our policy stance will help ensure inflation returns to target."

Markets have scaled back bets on Federal Reserve interest rate hikes, as Fed Governor Waller earlier stated that inflation has shown signs of improvement. According to CME Group’s FedWatch tool, the current probability of a Fed rate hike in September is 60.4%, with the next FOMC meeting scheduled for September 26.

US initial jobless claims for the week ending August 29 stood at 206,000, the highest since the week of August 15, against a market expectation of 205,000.