Employment growth in the US in 2025 has hit its lowest rate since 2020. Just how weak is this figure? Looking back over the past decade, during the economic expansion from 2010 to 2019, we never saw such feeble growth.

Following this data release, many market participants have been pondering — what does this really reflect?

Economic growth momentum is clearly weakening. Can unemployment rates and wage growth support market expectations, or are recession risks beginning to emerge? For the crypto market, these types of macroeconomic signals often trigger repricing of liquidity. How will mainstream assets like ETH react, and we need to closely monitor the market momentum ahead.