According to Wu Blockchain, Grayscale Research stated that U.S. inflation is accelerating, the Federal Reserve's room for rate cuts is limited, and the market currently expects no rate cuts until September 2027. Grayscale believes this macro environment will have three major impacts on the crypto market: pressure on trades combating fiat currency devaluation, accelerated development of tokenized fixed-income sectors, and stablecoin issuers earning more revenue from reserves.