Today's News Highlights:
Metaplanet issues 5 billion yen in ordinary bonds to accelerate Bitcoin purchases
Bitcoin spot ETF sees a net outflow of $680 million in a single day, setting a new historical high
Mt.Gox addresses transfer nearly 720 BTC, valued at approximately $69.87 million
USUAL's collaboration with DOGE is false news; USUAL briefly surpassed $1.6 before retreating
DuckChain completes $5 million financing, with participation from DWF Ventures and others
CZ states Revolut has launched BNB
Ethereum Foundation sold ETH 32 times in the past year, with 15 sales near peaks
Regulatory News
Crypto.com renews partnership with F1 until 2030
According to official news from Formula 1, Crypto.com has extended its partnership with F1 until 2030. This collaboration began in 2021, during which F1's cumulative TV audience reached 1.5 billion, with global fans totaling 750 million, while Crypto.com's user base grew to over 100 million. Under the new agreement, Crypto.com will focus on creating unique experiences for fans at multiple Grand Prix events while continuing as the official title partner of the F1 Crypto.com Miami Grand Prix. It is reported that Formula 1 racing began in 1950 and is the most prestigious car racing event in the world, as well as the most popular annual sporting event.
US SEC approves Hashdex to launch Nasdaq Bitcoin and Ethereum Crypto Index ETF
According to documents released by the U.S. Securities and Exchange Commission (SEC), the SEC has approved the listing of Hashdex Nasdaq Crypto Index US ETF and Franklin Crypto Index ETF. These funds will be listed on the Nasdaq and Cboe BZX exchanges, allowing investors to indirectly invest in Bitcoin and Ethereum through traditional financial markets. The approval includes comprehensive market monitoring agreements to prevent fraud and manipulation.
Animoca Brands announces financial and business highlights for Q2 and Q3 2024
Animoca Brands has announced its financial and business highlights for the periods ending June 30, 2024, and September 30, 2024 (unaudited, non-IFRS metrics). The company's projected revenues for Q2 and Q3 are $48 million and $69 million, respectively, with cash and stablecoin balances of $248 million, liquid digital asset values of $330 million, and off-balance sheet token asset reserves of $1.6 billion. The MOCA token will be listed on Upbit and Bithumb in December, with a 24-hour trading volume exceeding $2 billion, and Mocaverse users reaching 1.8 million. The Open Campus education chain's testnet has 1.8 million active wallets and over 67 million transactions; The Sandbox Alpha Season 4 has driven a 350% increase in the SAND token; GAMEE's monthly active users have reached 16 million. In 2024, the company achieved $28 million in profits from token investments and continues to invest in over 530 projects.
Metaplanet issues 5 billion yen in ordinary bonds to accelerate Bitcoin purchases
Japanese listed company Metaplanet Inc. announced that it will issue 5 billion yen in its fifth series of ordinary bonds through a private placement, with the proceeds to be used for purchasing Bitcoin. The repayment of these funds is expected to be completed through the execution of the 12th series of stock acquisition rights. The bonds will not pay interest and are scheduled to mature on June 16, 2025, with holders able to redeem part or all of the bonds early. The company stated that this issuance will have a limited impact on its financial performance for the year ending December 31, 2024.
Blockchain security company Blockaid reports that approximately 59% of the crypto tokens launched in 2024 have been identified as "malicious tokens." Among these, 27% are involved in "rug-pull" scams. The growth of these malicious tokens is related to the trend of highly sought-after Meme tokens, with 10 Meme tokens currently valued at over $1 billion, attracting many imitators to launch similar tokens on chains like Ethereum, Base, and Solana. Nevertheless, losses from crypto scams and hacks have significantly decreased from $5.6 billion last year to $1.4 billion in 2024. This data is based on Blockaid's on-chain detection and response platform, analyzing 2.41 billion transactions, 780 million dApp connections, and 220 million tokens.
Financing
DuckChain completes $5 million financing, with participation from DWF Ventures and others
TON ecosystem consumer layer DuckChain announced the successful completion of $5 million in financing, with investors including DAO5, Offchain Labs, Kenetic Capital, DWF Ventures, Oak Grove VC, Skyland VC, Geek Cartel, Gate.io, Presto Labs, and others. Additionally, angel investors from well-known projects like CamelotDEX and Quantstamp also participated in this round of financing.
DuckChain plans to use these funds to unlock the on-chain potential of over 30 million Telegram Star users through TON-based EVM solutions. At the same time, DuckChain has launched the "Yellow Duck Mission" hackathon, with a total prize pool of $1 million, in collaboration with Wallet, Arbitrum, and OnePiece Labs.
Project Updates
AltLayer receives a grant of 1 million EIGEN tokens, all to be returned to the community
According to an official announcement from AltLayer, the Eigen Foundation has provided a grant of 1 million EIGEN tokens to recognize its contributions to the EigenLayer ecosystem. AltLayer announced that all tokens will be used to give back to the community: • The first batch of 500,000 EIGEN tokens: to be distributed to reALT holders and stakers starting this week, with a snapshot period from May 9, 2024, to December 12, 2024. • The remaining 500,000 EIGEN tokens: will be distributed after the launch of the V2 reward mechanism on the Eigen Layer mainnet in 2025. Users can claim them through the official website stake.altlayer.io, with the claiming period from December 20, 2024, at 11:00 AM to February 20, 2025, at 11:00 AM (Beijing time).
Coinbase suspends wBTC trading, WBTC team responds
According to a Coinbase announcement, it will suspend trading of wBTC (Wrapped Bitcoin) around noon Eastern Time on December 19, 2024, across Coinbase.com, Coinbase Exchange, and Coinbase Prime platforms. Users' wBTC funds will still be available for withdrawal at any time. In response, the WBTC team expressed regret and surprise, stating that they have been committed to providing compliant, transparent, and decentralized Bitcoin tokenization products. The team emphasized that WBTC leads in transparency and decentralization and is deeply integrated with multiple DeFi protocols, making significant contributions to ecosystem development. The team also called on Coinbase to reconsider this decision and promised to provide more information to address any concerns.
According to an official announcement from Robinhood, the cryptocurrency $BONK has officially launched on its trading platform. Users can now trade through Robinhood Crypto.
CZ states Revolut has launched BNB
Binance founder CZ stated on social media that fintech giant Revolut has launched BNB. He revealed that he just learned of this news and mentioned that the community is continuously growing.
Binance postpones the delisting date for OMG/USDT perpetual contracts
Binance announced that it will further postpone the delisting date for the USDⓈ-M OMGUSDT perpetual contract to January 31, 2025, at 17:00 (Beijing time). At that time, the platform will automatically settle the contract and subsequently delist it.
USUAL's collaboration with DOGE is false news; USUAL briefly surpassed $1.6 before retreating
According to James Fishback, the account of Vivek Ramaswamy, co-leader of the U.S. government's efficiency department DOGE, has been hacked, and a false statement was released claiming that the DOGE department had reached a partnership with stablecoin issuer USUAL to reduce the federal budget deficit and promote cryptocurrency initiatives. Fishback confirmed that this statement is false news, and Vivek is currently locked out of his account. Binance's market data shows that USUAL briefly surpassed $1.6 and is now around $1.51.
OKX to launch FARTCOINUSDT and AI16ZUSDT perpetual contracts
OKX announced that it will launch FARTCOINUSDT and AI16ZUSDT perpetual contracts from 17:00 to 17:15 (UTC+8) on December 20, 2024. Users can trade through the web, app, and API. FARTCOIN is a token mentioned by the autonomous chatbot Truth Terminal created by AI researcher Andy Ayrey; AI16Z is the world's first venture capital firm led by AI agents, dedicated to connecting AI entrepreneurs with investors to promote rapid ecosystem development.
Opinions
Murad: Pay attention to resilient Meme coins, which may perform well in 2025
According to data from Meme ecosystem KOL Murad, various Meme coins have generally seen significant price declines over the past 30 days. Among them, LUCE, GINNAN, and SKBDI have dropped by 76%, 65%, and 56%, respectively, while SPX6900 is one of the few exceptions, rising 33% in the past 30 days. Additionally, GIGA and MOG recorded 30-day increases of 25% and 1%, respectively.
He stated that for Memecoins that have seen price declines over the past week, investors should pay special attention to those tokens that have shown the most resilience. He pointed out that these tokens' communities may have more "diamond hands" holders (long-term steadfast holders), which means they have greater future potential and may perform well in 2025.
Spartan Group published an analysis stating that in the 2024 U.S. presidential election, Trump not only won the election by a landslide but the Republican Party also gained control of both the Senate and the House of Representatives. This victory provides significant leverage for pushing policy changes, and the next 12 months are expected to be very favorable for the crypto industry.
The article points out that the difference in this election is the importance of the crypto agenda. Trump and his core advisors are crypto-friendly, and crypto companies provided substantial support during the election. Additionally, Trump has expressed a desire for the U.S. to become a global crypto hub. Currently, the U.S. is a leader in crypto infrastructure, mining, and trading, but the new government's policies may further solidify this position.
Historical data shows that the 12 months following U.S. elections are usually a strong performance period for crypto assets. The clarity of policies resulting from the election and the overlapping effects of the BTC halving cycle may shift market sentiment towards risk appetite, especially favoring the performance of small and medium tokens. Spartan Group believes that as the "altcoin season" approaches, the crypto market will see more upward potential in the coming year.
According to analysis by Greeks.live analyst Adam, BTC has pulled back after failing to break through $110,000, clearing some leveraged long positions, while the adjustment in altcoins has lasted nearly a month. Based on past bull market experiences, a significant pullback in Bitcoin could trigger an "altcoin season," but the current intensity of the pullback is still unclear.
As Christmas and year-end settlements approach, ETF funds are noticeably flowing out, and market makers are continuously adjusting their positions, with recent large bullish options transactions accounting for over 30% of daily volume. After more than 40% of options expire at year-end, the large amount of margin released is expected to drive implied volatility down, and the cost-effectiveness of buying options may significantly improve in the coming week. Previously, it was reported that Deribit: options with a nominal value of approximately $2.7 billion for BTC and ETH will expire tomorrow.
CryptoQuant founder Ki Young Ju pointed out that Bitcoin's dominance has recently dropped by 6%, with XRP contributing 3% to this decline, and the dominance is currently rebounding.
He stated that only a few altcoins are attracting new liquidity, and the rotation of BTC to altcoins is limited; this is not a traditional "altcoin season," but rather a season for a few standout altcoins.
Important Data
According to data from CoinMarketCap, in the past 30 days, 10 tokens among the top 500 cryptocurrencies by market cap have dropped over 50%, with 8 of them being Meme coins. The specific data is as follows: Magic Eden (ME) down 72.88%, currently priced at $3.07; Peanut the Squirrel (PNUT) down 59.75%, currently priced at $0.6628; Goatseus Maximus (GOAT) down 58.30%, currently priced at $0.4799; Department of Government Efficiency (DOGE) down 56.60%, currently priced at $0.1015; Popcat (SOL) (POPCAT) down 55.57%, currently priced at $0.7724; Just a chill guy (CHILLGUY) down 53.90%, currently priced at $0.1811; XION (XION) down 52.93%, currently priced at $3.30; Ponke (PONKE) down 52.76%, currently priced at $0.3369; Neiro (Neiro On Ethereum) (NEIRO) down 52.11%, currently priced at $0.0009805; Sudeng (HIPPO) down 51.50%, currently priced at $0.009632.
Mt.Gox addresses just transferred nearly 720 BTC, valued at approximately $69.87 million
According to Arkm data, at 9:07 AM Beijing time, Mt. Gox transferred 719.568 BTC to two new wallet addresses, valued at approximately $69.87 million.
According to Sing Tao Daily, industry insiders in Hong Kong's virtual asset sector stated that the development of virtual assets in the region is still in its early stages, and they are not worried about market competition; rather, they believe that more participants will join. According to HashKey's estimates, there are currently only about 100,000 active cryptocurrency users in Hong Kong, and the market size is relatively small, with most of the market already occupied by existing licensed platforms. New entrants will face high operating costs and may find it difficult to capture market share, so the likelihood of intensified competition in Hong Kong's virtual asset industry in the future is low.
El Salvador wallet address increases holdings by 11 BTC, valued at $1.07 million
On-chain data shows that at 8:07 AM Beijing time, an El Salvador wallet address purchased 11 BTC worth $1.07 million for its strategic Bitcoin reserves. It was reported yesterday that El Salvador officials will accelerate Bitcoin purchases as strategic reserves, and the official Bitcoin wallet Chivo will be sold or discontinued due to a $1.4 billion loan agreement with the IMF, with Bitcoin payments becoming voluntary.
World Liberty purchased 722.2 ETH for $2.5 million an hour ago
According to Onchain Lens monitoring, an hour ago, Trump’s World Liberty (@worldlibertyfi) used $2.5 million USDC to purchase 722.2 ETH, with an average price of $3,461 per transaction.
Ethereum Foundation sold ETH 32 times in the past year, with 15 sales near peaks
According to Lookonchain monitoring, since the Ethereum Foundation sold 100 ETH on December 17, the ETH price has dropped by about 17%. In the past year, the Ethereum Foundation has conducted 32 ETH sale transactions, totaling 4,466 ETH (approximately $12.6 million), with 15 transactions occurring near market peaks.
Hyperliquid's 24-hour trading volume exceeds $13 billion, setting a new historical high
According to official news, the 24-hour trading volume on the Hyperliquid platform has surpassed $13 billion for the first time, setting a new historical high.
Bitcoin spot ETF sees a net outflow of $680 million in a single day, setting a new historical high
According to SoSoValue data, on December 19, Eastern Time, Bitcoin spot ETFs experienced a net outflow of $680 million in a single day, marking a historical high. Among them, Grayscale ETF GBTC saw a net outflow of $87.8625 million in a single day, with a historical cumulative net outflow of $21.236 billion; Grayscale Bitcoin Mini Trust ETF saw a net outflow of $18.9 million in a single day, but the historical cumulative net inflow remains at $853 million. In contrast, WisdomTree ETF BTCW saw a net inflow of $2.0474 million yesterday, with a historical cumulative net inflow of $229 million. As of now, the total net asset value of Bitcoin spot ETFs is $109.655 billion, accounting for 5.74% of Bitcoin's total market cap, with a historical cumulative net inflow of $36.329 billion.
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