Today's News Highlights:
Astrology-themed tokens surge, possibly influenced by Andrew Kang's tweet
Solv Protocol announces its token $SOLV will soon be listed on Hyperliquid
Approximately 5 billion DOGE transferred from Binance, valued at $2.029 billion
Justin Sun withdraws 20,000 ETH from EtherFi and deposits 10,000 ETH to HTX
Trump family's crypto project World Liberty purchases $250,000 worth of ONDO tokens via Cow Protocol
Matrixport: Ethereum's dominance may rebound in 2025
Upbit to list Moca Network (MOCA)
Regulatory News
According to Bitcoin Magazine, Bitcoin founder Satoshi Nakamoto has become the 16th richest person in the world with a personal wealth valuation of $106 billion as Bitcoin price reached $106,000, surpassing Michael Bloomberg.
FASB's fair value accounting rules for Bitcoin officially take effect today
According to The Bitcoin Historian, reposted by Bitcoin Magazine, the FASB fair value accounting rules for Bitcoin officially take effect today. Previously, companies could only assess Bitcoin's value at its purchase price, not its appreciated value. Images show that MicroStrategy founder Michael Saylor stated last week that the FASB (Financial Accounting Standards Board) has officially passed the fair value accounting rules for Bitcoin, applicable to fiscal years starting after December 15, 2024. This improvement will promote the adoption of Bitcoin as a reserve asset by enterprises.
Project Updates
Astrology-themed tokens surge, possibly influenced by Andrew Kang's tweet
Possibly influenced by Mechanism Capital partner Andrew Kang's tweet yesterday about astrology-themed cryptocurrencies, related tokens of Astrofolio have generally risen. Data shows that 12 zodiac tokens have increased by over 10% in 24 hours, with Gemini up 28.7%, Aries up 31.32%, and Scorpio up 28.76%. Andrew Kang pointed out in his tweet that astrology is one of the oldest "memes" in human civilization, and its universality and cultural penetration make astrology-themed tokens likely to become the next big category of popular Memecoins. He also mentioned that astrology comes with a rich meme ecosystem, and recent projects have gained good market attention driven by TikTok and astrology influencers.
Upbit announced it will soon support trading of the new digital asset VANA, with the specific trading start time to be announced one hour in advance after sufficient liquidity is ensured. VANA will support KRW, BTC, and USDT markets, with its deposit function expected to open at 19:00 local time on December 16, conducted through the Vana network.
Solv Protocol announces its token $SOLV will soon be listed on Hyperliquid
Bitcoin staking platform Solv Protocol announced that its token $SOLV will be listed on Hyperliquid, with specific listing time and trading details to be further announced.
Upbit to list Moca Network (MOCA)
According to Upbit's announcement, Moca Network (MOCA) will be listed for trading today (December 16) in KRW, BTC, and USDT markets, supporting the Ethereum network. The deposit function for MOCA will open within 2 hours after the announcement, with trading expected to start at 14:00 local time.
Owner of Pnut the Squirrel has taken legal action against Binance
According to a statement and legal documents provided by SquirrelDad (owner of the popular squirrel "Pnut the Squirrel"), his legal team has formally issued a cease and desist letter to Binance, accusing Binance of unauthorized use of his intellectual property, including images, trademarks, and story content of "Peanut the Squirrel." The letter alleges that Binance displayed related content on its platform without permission and listed tokens, infringing copyright and trademark rights. SquirrelDad stated he will protect his creative works through legal means and plans to take further legal action. Squirrel_Dad's actions have sparked dissatisfaction among some users, and his personal X account appears to have been reported by multiple people, currently displaying a warning that his profile may contain potentially sensitive content.
Trump family's crypto project World Liberty purchases $250,000 worth of ONDO tokens via Cow Protocol
According to Arkham monitoring, at 6:51 AM Beijing time today, the Trump family-related crypto project World Liberty purchased 134,216 ONDO tokens for $250,000 USDC via Cow Protocol.
Opinions
Matrixport: Ethereum's dominance may rebound in 2025
Matrixport analysis shows that Ethereum failed to keep pace with the market during the Bitcoin bull market in 2024, with its dominance dropping sharply from 18% to 12%, while Bitcoin's dominance rose to 61%. The launch of Ethereum ETFs did not reverse this trend, and market focus gradually shifted to emerging blockchain ecosystems like Solana. However, the report indicates that 2025 may be a critical turning point for Ethereum. The inflow of funds into Ethereum ETFs may attract more traditional financial institutions (TradFi) to enter the market, propelling Ethereum to become a "dark horse" in the market and achieve a strong rebound in the future.
Former Coinbase CTO: AI and crypto fields' reputations may converge
Former Coinbase CTO Balaji Srinivasan tweeted that AI originated from academic research and large tech companies, thus having a higher reputation; while crypto technology originated from anonymous forums and internet communities, initially having a lower reputation.
However, AI makes everything easy to forge, while crypto technology makes forgery difficult, and the reputations of the two may gradually converge. He believes that while AI is widely recognized as an important technology with civilizational significance, the value of crypto technology is underestimated, and in the future, the two will gradually approach each other in reputation.
Important Data
Approximately 5 billion DOGE transferred from Binance, valued at $2.029 billion
Whale Alert monitoring shows that at 14:26 Beijing time, 4,999,999,999 DOGE (approximately $2.029 billion) were transferred from Binance to an unknown wallet.
Justin Sun withdraws 20,000 ETH from EtherFi and deposits 10,000 ETH to HTX
According to Onchain Lens monitoring, Justin Sun has unstaked 52,905 ETH (valued at $209 million) from Lido Finance, as well as 20,000 ETH from EtherFi. Additionally, he deposited 10,000 ETH (valued at $39.69 million) and 196,380 EIGEN (valued at $964,000) to the HTX platform.
Justin Sun applied to withdraw 52,905 ETH from Lido an hour ago, now valued at over $200 million
Spot On Chain monitoring shows that Justin Sun applied to withdraw 52,905 ETH (currently valued at $209 million) from Lido Finance an hour ago. This portion of ETH is part of the 392,474 ETH he purchased at an average price of approximately $3,027 through three wallets between February and August this year, with a total investment of about $1.19 billion, currently expected to yield a profit of $349 million (+29%). Notably, on October 4, 2023, Justin Sun withdrew 80,251 ETH (valued at $131 million) from Lido and transferred it to Binance within the following four days, after which the price of ETH dropped by about 5% in mid-October.
According to SoSoValue data, from December 9 to 13 Eastern Time, Bitcoin spot ETFs had a net inflow of $2.17 billion in a single week, achieving net inflows for five consecutive trading days. Among them, BlackRock's ETF IBIT led with a net inflow of $1.51 billion, bringing its historical total net inflow to $35.88 billion; Fidelity's ETF FBTC had a net inflow of $598 million, with a historical total net inflow of $12.31 billion. In contrast, Grayscale's ETF GBTC saw a net outflow of $221 million last week, with a cumulative historical net outflow of $21.05 billion. As of now, the total net asset value of Bitcoin spot ETFs is $114.969 billion, accounting for 5.71% of Bitcoin's total market capitalization, with a cumulative historical net inflow of $35.602 billion.
MOCA rises over 300%, currently priced at $0.376
Coingecko market data shows that MOCA Coin (MOCA) surged over 300% in a short time, currently priced at $0.376 per coin, possibly influenced by its listing on Upbit.
CloverPool data indicates that Bitcoin mining difficulty was adjusted at block height 874,944 (2024-12-16 09:33:30), increasing by 4.43% to 108.52 T, setting a new historical high. The current average hash rate of the entire network is 812.02 EH/s.
VANA ecosystem NFT project V's floor price currently at 2.99 ETH, with a 24-hour increase of 135.92%
According to Blur data, the current floor price of the VANA ecosystem NFT project V is 2.99 ETH, with a 24-hour increase of 135.92% and a weekly increase of 688.92%. Earlier today, it was reported that Upbit will list VANA.
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