Weak PPI Inflation Print Sends Solana Meme Coins, Ethereum Ecosystem Coins Soaring
The post Weak PPI Inflation Print Sends Solana Meme Coins, Ethereum Ecosystem Coins Soaring appeared on BitcoinEthereumNews.com.
Wednesday’s weaker-than-forecasted Producer Price Index print has added further pressure on the Federal Reserve to cut its target rate, perhaps in the July FOMC meeting itself. This is a decidedly bullish scenario for risk assets, and crypto prices are already soaring. The Bitcoin price has climbed back above $119,000, but the altcoins are in the spotlight. The Ethereum price is up by more than 7% on the day, trading above $3,200 at press time. Ethereum ecosystem coins are also showing significant bullish strength, with Ethereum Name Service (ENS) posting the second-highest gains of any top 100 cryptocurrency, 20%. Floki, Mog Coin and Arbitrum are also showing double-digit gains. Meanwhile, Solana meme coins are also in high demand. SPX6900 has hit a new all-time high, up by 22% on the day. Bonk, Official Trump, PUMP and Dogwifhat are among the top gainers today as well. Weak PPI Print Adds Pressure On Fed To Cut Rates Wednesday’s soft PPI data gives further credence to those, including US President Donald Trump, who believe that the US Federal target rate is far too high. Headline producer prices rose just 2.3% year-over-year in June, below the 2.5% forecast, while core PPI eased to 2.6% versus expectations of 2.7%. 🚨 Just In: June US PPI annual inflation rises 2.3%, below expectations for 2.5%. Core PPI inflation increased 2.6% Y/Y, compared to forecasts for a gain of 2.7%. pic.twitter.com/tiXIflX2jr — Jesse Cohen (@JesseCohenInv) July 16, 2025 Notably, the Producer Price Index excludes import prices, meaning it doesn’t fully capture the inflationary impact of President Trump’s tariff policies. However, Tuesday’s Consumer Price Index, particularly the soft core CPI print, also pointed to easing inflationary pressures, strengthening the case for rate cuts. The CME FedWatch continues to indicate two rate cuts this year, one in September and another in…
Filed under: News - @ July 16, 2025 10:27 pm