News Preview:
- MicroStrategy will officially join the Nasdaq 100 Index on December 23, becoming the first Bitcoin-related company to enter the index;
- Metars Genesis (MRS) will unlock approximately 10 million tokens at 8 AM Beijing time on December 23, accounting for 11.87% of the current circulation, valued at about $34.7 million;
- Ethena (ENA) will unlock approximately 12.86 million tokens at 3 PM Beijing time on December 25, accounting for 0.44% of the current circulation, valued at about $13.5 million;
- Due to the upcoming Christmas holiday, the market will be relatively calm next week, although there are still some influential data points. However, due to thin liquidity, market volatility may increase significantly;
- Cardano (ADA) will unlock approximately 18.53 million tokens at 8 AM Beijing time on December 26, accounting for 0.05% of the current circulation, valued at about $16.6 million.
December 23
Exchanges:
The Korean crypto exchange Aprobit will cease operations. As the deadline for virtual asset service provider (VASP) updates approaches, many cryptocurrency trading platforms are shutting down. According to industry sources, Aprobit's withdrawals can be made until 6 PM on December 23. Aprobit stated: "Due to changes in the operating environment, we have decided to stop trading support. Even after trading support ends, we will do our best to ensure that all users can smoothly withdraw their assets stored on the trading platform."
MicroStrategy is expected to join the Nasdaq 100 Index on December 23
MicroStrategy is expected to join the Nasdaq 100 Index on December 23, with an official announcement scheduled for this Friday (December 13). Bloomberg ETF analyst James Seyffart stated that ETFs tracking the Nasdaq 100 Index are expected to purchase $2.1 billion worth of MicroStrategy stock, accounting for about 20% of the company's daily trading volume. ETF analyst Eric Balchunas noted that the company's weight in the Nasdaq 100 Index could also reach 0.47%, making it the 40th largest holding in the index.
Seyffart mentioned that while joining the Nasdaq 100 Index is imminent, the lack of profitability at MicroStrategy makes joining the S&P 500 Index more challenging. However, upcoming changes to accounting rules related to Bitcoin valuation may qualify the company for inclusion in the S&P 500 Index by 2025.
Project Updates:
The Aligned Foundation will distribute a significant portion of ALIGN tokens to holders of Mina, EigenLayer, and Ethereum zk L2 tokens, especially to those who chose to continue holding during market lows. Registration will close on December 23, 2024. The specific eligibility requirement is that the wallet address must hold at least $50 worth of tokens at the historical lowest price of the following projects: Mina (MINA), Starknet (STRK), Polygon (POL), EigenLayer (EIGEN), ZKsync (ZK), Scroll (SCROLL), Taiko (TKO). Previously, it was reported that Aligned would airdrop 26% of ALIGN to 891,322 addresses, targeting holders of seven tokens including STRK and ZK.
Governance Voting:
The DeSci project BIO Protocol has opened voting on a new proposal to "enable the transferability of BIO tokens," with a voting period of 3 days (ending December 23). If the proposal passes, BIO will become a liquid asset within 14 days, with initial liquidity on the ETH mainnet, and support for more chains to follow.
Token Unlocks:
Metars Genesis (MRS) will unlock approximately 10 million tokens at 8 AM Beijing time on December 23, accounting for 11.87% of the current circulation, valued at about $34.7 million.
Karrat (KARRAT) will unlock approximately 11.25 million tokens at 8 AM Beijing time on December 23, accounting for 6.45% of the current circulation, valued at about $4.4 million.
Murasaki (MURA) will unlock approximately 20 million tokens at 8 AM Beijing time on December 23, accounting for 34.84% of the current circulation, valued at about $12.2 million.
Coin98 (C98) will unlock approximately 16.53 million tokens at 7 PM Beijing time on December 23, accounting for 1.88% of the current circulation, valued at about $2.7 million.
December 24
Project Updates:
Pump Science released a roadmap update, stating that on December 24, they will announce partnerships and prepare for mouse experiments and protocol development; on January 25, 2025, they will start mouse experiments for URO and RIF; on February 25, they will collaborate with VitaDAO to launch new compounds; on March 25, they will initiate supplement reservations and market platform launch; on April 25, they will conduct decentralized human trials and launch decentralized compound releases; on May 25, they will expand related experiments.
BNB Chain announced that it will launch the second phase of the Meme Coin competition on December 24. The first phase lasted 7 days, with 7 winning MemeCoin projects; among them, AICell, MONKEY, and FROG have been listed on Binance Alpha Zone. The second phase will begin on December 24, during which BNB Chain will purchase $33 worth of outstanding ecological Meme Coins daily for 7 consecutive days, randomly airdropping the corresponding Meme tokens to 1,000 eligible community users each day.
Token Unlocks:
MMX (MMX) will unlock approximately 1.67 million tokens at 8 AM Beijing time on December 24, accounting for 1.11% of the current circulation, valued at about $1.8 million.
December 25
Exchanges:
Binance will delist AKRO, BLZ, WRX on December 25
Binance announced that it will delist and stop all spot trading pairs related to AKRO, BLZ, and WRX at 03:00 (UTC) on December 25, 2024, including AKRO/USDT, BLZ/BTC, BLZ/USDT, and WRX/USDT.
Binance will support aelf (ELF) network upgrade on December 25
Binance announced that it will suspend token deposits and withdrawals for aelf (ELF) network starting at 09:00 (UTC) on December 25, 2024, to support its network upgrade. This upgrade is expected to occur at block height 248,832,789, approximately completing at 10:00 (UTC) on December 25, 2024.
Token Unlocks:
Ethena (ENA) will unlock approximately 12.86 million tokens at 3 PM Beijing time on December 25, accounting for 0.44% of the current circulation, valued at about $13.5 million.
Eigenlayer (EIGEN) will unlock approximately 1.29 million tokens at 3 AM Beijing time on December 25, accounting for 0.61% of the current circulation, valued at about $4.9 million.
Venom (VENOM) will unlock approximately 33.76 million tokens at 8 AM Beijing time on December 25, accounting for 1.77% of the current circulation, valued at about $2 million.
Hooked Protocol (HOOK) will unlock approximately 4.17 million tokens at 8 AM Beijing time on December 25, accounting for 1.97% of the current circulation, valued at about $1.7 million.
December 26
Project Updates:
The Sui ecosystem lending protocol Scallop will launch an airdrop event from December 14 to 26 during the Christmas period. Users only need to borrow at least $1,000 in assets or hold 1,000 veSCA to qualify for the airdrop. The total airdrop amount is 1 million SCA, with the airdrop distribution date set for December 26. Currently, Scallop's TVL has reached a historical high of $195 million, with total borrowings reaching $90 million.
Token Unlocks:
Cardano (ADA) will unlock approximately 18.53 million tokens at 8 AM Beijing time on December 26, accounting for 0.05% of the current circulation, valued at about $16.6 million.
December 27
Exchanges:
OKX will officially delist XRP and LTC futures contracts on December 27.
According to the official announcement, OKX plans to gradually stop the generation of XRP and LTC coin-margined and USDT-margined futures contracts, and will officially delist XRP and LTC futures contracts at 4:00 PM (UTC+8) on December 27, 2024. This delisting will apply to the web, mobile, and API platforms.
Binance Futures will launch U-margined and coin-margined Q2 0627 futures contracts on December 27
Binance Futures will launch the following U-margined and coin-margined Q2 0627 futures contracts within a few hours after the expiration of the current Q2 1227 futures contracts at 4:00 PM (UTC+8) on December 27, 2024. The U-margined futures contracts include BTCUSDT and ETHUSDT, with settlement assets in USDT, minimum price precision of 0.1 and 0.01 respectively, and a maximum leverage of 50 times. The coin-margined futures contracts cover BTC, ETH, BNB, ADA, LINK, BCH, XRP, DOT, LTC, and SOL, with settlement assets in their respective underlying assets. Minimum price precision and maximum leverage vary by asset, with a maximum leverage of up to 50 times.
Investors focus on Bitcoin options expiring on December 27
According to a previous report by Reuters, investors are paying attention to December 27, when Bitcoin options worth $11.8 billion will expire, which could trigger significant price volatility in either direction. Nick Forster, founder of the decentralized options protocol Derive, pointed out that Bitcoin's volatility has remained stable over the past seven days, with an implied volatility of 63% for the next seven days and 55% for 30 days. "This tight consistency suggests that the market expects significant volatility to occur soon." Bitcoin has currently retreated from its highs, and one of the reasons cited by market participants for the price drop is profit-taking.
December 28
Project Updates:
Sophon mining migration timeline announced, mainnet mining will start on December 28
The modular blockchain Sophon, based on ZKsync, announced its mining migration plan:
• December 19, 23:59 UTC: L1 mining will close for new deposits, while an optional L1 withdrawal window will open.
• December 26, 23:59 UTC: The L1 withdrawal window will close, and unwithdrawn assets will automatically cross-chain to the Sophon mainnet.
• December 27: All remaining assets will complete automatic cross-chain, and the first phase of SP point accumulation will end.
• December 28: Sophon mainnet mining will officially start, and the second phase of SP point accumulation will begin, using a USD-based distribution method and supporting gas-free mining.
December 29
No updates
Specific time to be determined
Macro Market:
Due to the upcoming Christmas holiday, the market will be relatively calm next week, although there are still some influential data points. However, due to thin liquidity, market volatility may increase significantly. For the US dollar, with the overall hawkish stance within the Federal Reserve, it is expected that the dollar will not easily lose its position gained this year, although low trading volumes during the holiday period may trigger some unnecessary volatility. Overall, if any market turmoil occurs during the holiday period, it is more likely to impact US stocks and bonds. The Federal Reserve's hawkish stance has not been welcomed by Wall Street, and as US Treasury yields continue to rise, selling pressure may intensify.
Project Updates:
OpenAI: ChatGPT will launch an advanced voice mode next week
ChatGPT's search function has received a significant update, which is now gradually being rolled out to all free users. This update includes a real-time search feature that supports obtaining the latest news, stocks, and other dynamic content on a minute-by-minute basis; a new advanced voice mode will be launched next week, allowing users to optimize multi-turn search experiences through more natural voice interactions; a new map feature for mobile devices will support viewing nearby locations, route planning, and merchant information; optimizations for platforms such as Android and iOS have improved search efficiency by over 40%.
Governance Voting:
The Layer 1 blockchain MANTRA, focused on RWA assets, announced on platform X that the updated OM token economics proposal is now live, with Snapshot voting open and mainnet voting scheduled for next week.
Although the proposal suggests adjusting the token issuance schedule, individual allocations obtained through various activities will remain unchanged. The specific contents of the proposal include:
- 1. Adjust the vesting schedule for OM upgrade rewards, with the cliff period ending on March 18, 2025, followed by a linear vesting period that continues until October 16, 2028.
- 2. 10% of the initial allocation for the airdrop will unlock starting March 18, 2025, followed by a 6-month cliff period until September 18, 2025. From that date, the remaining rewards will begin to vest linearly and continue until March 18, 2027. Additionally, a second phase of anti-witch checks will be proposed for all wallets. After that, the vesting period for airdrop rewards will no longer be extended.
- 3. The cliff and vesting periods for team and core contributor incentives will be extended, with the cliff period ending on April 23, 2027, and the vesting period ending on October 22, 2029.
- 4. The cliff period for Pre-Seed round investors' tokens will end on October 23, 2025, with vesting ending on October 23, 2027; the cliff period for Seed round investors' tokens will end on April 23, 2025, with vesting ending on April 23, 2026.
- 5. The ecosystem allocation will remain unchanged, and the on-chain inflation rate will be reduced from 8% to 3% starting January 1, 2025.
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