PA Daily | UXLINK trading volume ranks first on both Upbit and Bithumb; 1.37 million LINK withdrawn from Binance by 30 new wallets within 5 days.

Today's News Highlights:

Regulation/Macro

2024 cryptocurrency stock performance: MicroStrategy up 402%, Core Scientific up 307%

2024 is a milestone year for the cryptocurrency market, marked by significant events including the launch of a spot Bitcoin ETF, the Bitcoin halving event in April, and support from Trump, all of which have brought volatility to cryptocurrency-related stocks. Overall, the S&P 500 index rose by 25%, and Bitcoin's price increased by nearly 120%. Among the best-performing stocks, MicroStrategy (MSTR) led with a 402% increase, reaching a market cap of $83 billion. As the largest corporate holder of Bitcoin, MicroStrategy continues to purchase Bitcoin in large quantities in 2024. Core Scientific (CORZ) followed closely with a 307% increase, successfully signing a 12-year contract with AI giant CoreWeave. Terawulf (WULF) and Bitdeer Technologies (BTDR) also performed strongly, rising 142% and 122%, respectively. Additionally, Coinbase (COIN) rose by 69%, with a market cap of $66.5 billion, showing stable performance. Among the worst-performing stocks, Greenridge Generation (GREE) saw its stock price plummet by 74%, Argo Blockchain (ARBK) fell by 80%, and Gryphon Digital Mining (GRYP) experienced a staggering 92% drop due to a significant decline in revenue.

Financing

Venture capital firm Founders Fund is raising about $3 billion for its third growth equity fund

According to Axios from multiple sources, the venture capital firm Founders Fund, co-founded by Peter Thiel, is raising about $3 billion for its third growth equity fund. Founders Fund has not provided potential investors with an official target size for this new fundraise but indicated that $3 billion would be a rough estimate. Founders Fund has invested in some of the world's most valuable tech startups, including SpaceX and Stripe. Given Thiel's long-standing support for President Trump and the firm's multiple investments with Musk, it also has the opportunity to enter the upcoming White House. Founders Fund has also invested in several crypto projects, including Igloo, Inc., the parent company of Pudgy Penguins, the Bitcoin lending platform Lava, and the Bitcoin rollup project Citrea. Founders Fund successfully raised $3.4 billion for its second growth equity fund in 2022, while also raising $1.8 billion for its eighth early-stage fund. However, early last year, they decided to split the early-stage fund in two due to a perceived lack of investment opportunities in the market. As of now, they have not begun investing in what is now referred to as the "ninth fund." Additionally, while there were discussions about splitting the growth fund, it has not been implemented. Currently, most of the fund's capital has been deployed, including investments in capital-intensive AI companies.

Project Updates

UXLINK's 24-hour trading volume ranks first on both Upbit and Bithumb

According to Coingecko, UXLINK's 24-hour trading volume ranks first on South Korean exchanges Upbit and Bithumb, at approximately $2.886 billion and $345 million, respectively. The current price of UXLINK is reported at $3.63, with a 24-hour increase of 123.7%.

The first aiPool presale project spent 814 SOL on the top 3 addresses but only received 10 SOL worth of METAV

On-chain analyst @ai_9684xtpa analyzed: "The first AI-Pool's public presale project spent a total of 814 SOL from the top 3 addresses, but only received 10 SOL worth of METAV. The excess and late transfers seem to be treated as donations. The funding reception rules state that since this launch process is entirely executed by AI, the funding reception range is 1-10 SOL, with amounts below 1 SOL considered donations. However, from the transaction records, it appears that 'funds exceeding 10 SOL' and 'funds transferred after the deadline' were also 'forced donations.'" The top 3 addresses that contributed during the presale phase are: 1. Address HRu6k…eoFCw: contributed 574 SOL; has not yet received tokens and is locked. 2. Address 4b6ry…bKkjU: contributed 200 SOL; has received 10 SOL worth of tokens, specifically 109,628 METAV, all of which have been sold. 3. Address 4MeZj…wpRsB: contributed 200 SOL and has received 10 SOL worth of tokens and added 23,000 more, which have not yet been sold.

VitaDAO plans to distribute 6.9 million BIO tokens to VITA and VitaDAO IPT holders

The VitaDAO community has initiated a new proposal to "airdrop BIO tokens to the VitaDAO community" to strengthen the connection between BIO and the VitaDAO community, while coordinating governance participation by distributing tokens to active VITA and VITA IPT holders. The proposal suggests distributing up to 6.9 million BIO tokens (from a total allocation of 21 million from VitaDAO) to the VitaDAO community through an airdrop mechanism. The distribution will be based on multiple snapshots targeting VITA token holders and VITA-IPT holders, and the airdrop will use a tiered system to ensure fair distribution among different holder categories. The implementation period for the claiming mechanism is set for 2 months (January 2025 - March 2025).

GoPlus releases GPS token economics: 10% of the total supply will be used for airdrops

Web3 cybersecurity company GoPlus recently announced the issuance of GPS tokens, with TGE details to be announced soon. The launch of GPS marks GoPlus's transition from a security service provider to a decentralized network. The GPS token is designed to power various aspects of this security lifecycle: security service fees, staking rewards, and security transaction fees. Regarding token economics, the total supply of GPS tokens is 10 billion, with 60.67% allocated for ecosystem and community growth, and 39.33% for early contributors and private investors. The specific allocation for ecosystem and community growth includes: 24.67% for community and development, 10% for ecosystem growth, 6% for marketing and growth, 10% for airdrop distribution, 7% for liquidity, and 3% for advisors. The specific allocation for early contributors and private investors includes: 20% for team allocation and 19.33% for early supporters from 2021-2024.

Opinions

Syncracy Capital co-founder: AI16z, Zerebro, and Griffain's FDV is expected to exceed $1 billion

Syncracy Capital co-founder Daniel Cheung stated that several AI agent platforms on Solana are expected to achieve a fully diluted valuation (FDV) of over $1 billion in the next phase. He specifically mentioned that AI16z, Zerebro, and Griffain are the projects most likely to reach this goal.

Artemis founder: TradFi participants will drive crypto assets from $3.5 trillion to over $100 trillion

The founder of the cryptocurrency institutional data platform Artemis, Jon Ma, shared his experience of transitioning from traditional finance to the cryptocurrency industry on social media. He mentioned that he first encountered Bitcoin in 2015 but did not pay much attention to it until 2017, when he revisited and purchased Bitcoin and other crypto assets.

He stated that through discussions with Erik Voorhees from Shapeshift, he began to realize the possibility of separating currency from government. In the following years, he missed the DeFi boom and the rise of NFTs, but re-entered the crypto space in 2021, investing in Solana and its NFTs, and attempting to participate in DeFi projects.

He also supported Filipino scholars through Axie Infinity with his girlfriend, believing that traditional finance participants will drive the growth of crypto assets from $3.5 trillion to over $100 trillion in the future. Asset management companies like Fidelity and BlackRock are actively launching digital asset ETFs and related products, while the world's largest fintech companies, Stripe and Visa, may also benefit from crypto payment networks.

Matrixport: Ethereum may have another entry opportunity

Matrixport stated that, similar to Bitcoin, Ethereum often loses momentum when prices rise significantly, especially when prices increase by over 60% within 30 days. Historical data suggests that this is usually a good profit-taking opportunity. The current price has retraced to the same level as a month ago, which may indicate that a re-entry opportunity is brewing, especially if the cryptocurrency bull market is expected to last until 2025.

It is noteworthy that Ethereum has not exhibited the higher beta characteristics seen in the previous bull market during this rebound. However, it remains a favored asset among investors. The recent continuous inflow of ETF funds is the best proof of this. This strong demand not only highlights Ethereum's important position but also indicates that it remains a focus even if its performance has slightly underperformed expectations in this cycle.

K33 Research: If history repeats, Bitcoin may reach a cycle peak within three weeks, possibly during Trump's inauguration

According to Morningstar, cryptocurrency research firm K33 Research pointed out that Bitcoin has been fluctuating since breaking the $100,000 milestone earlier this month. However, history suggests that a new all-time high may occur around mid-January next year. K33 research director Vetle Lunde stated that based on data from Bitcoin's past three cycles, the average duration from the first to the last all-time high in each cycle is 318 days. With Bitcoin reaching its first all-time high in the current cycle on March 5, if the average duration from previous cycles repeats, investors may see the cryptocurrency reach a new peak on January 17, 2025. If Bitcoin does reach a cycle peak in mid-January next year, it will be close to Trump's presidential inauguration on January 20.

Important Data

Suspected address of Sun Yuchen transferred 70,182 ETH to HTX, approximately $245 million

According to Spot On Chain monitoring, a suspected address of Sun Yuchen transferred 70,182 ETH (approximately $244.9 million) to HTX seven hours ago, including 42,905 ETH unstaked from Lido Finance and 27,277 ETH transferred from Etherfi. Since November 10, he has deposited 179,101 ETH (approximately $645 million) into HTX at an average price of $3,601. He still holds 106,905 STETH (approximately $372.4 million) and 56,277 EETH (approximately $195.8 million), of which 25,000 ETH (approximately $87 million) have been unstaked from Etherfi. Previously, Sun Yuchen denied rumors of liquidating ETH, stating that it was merely a transfer of ETH between different wallets by the team.

Glassnode: Solana has maintained positive net capital inflow since early September 2023

Glassnode posted on X platform stating: "Since early September 2023, Solana has maintained positive net capital inflow, with only a small amount of outflow during this period. This continuous influx of liquidity has helped stimulate Solana's growth and price increase, reaching a significant peak of $776 million in new funds flowing in daily."

Coinbase International's weekly trading volume reached a new high of $119 billion

Coinbase International's total trading volume exceeded $119 billion last week, setting a new historical high. The total for the week was 124% higher than the previous week, and the daily average for the past week was 164% higher than the daily average of the week before. The daily average trading volume on Coinbase International in November was only $2.5 billion. By December, the exchange's daily average trading volume approached $10 billion. The top five trading pairs on Coinbase International include perpetual futures for BTC, ETH, SOL, XRP, and DOGE, accounting for 99.8% of the total trading volume. BTC-PERP accounted for 57% of the total trading volume, followed by ETH-PERP at 34%.

PancakeSwap's total trading volume in 2024 reached $310 billion, a year-on-year increase of nearly 179%

According to Cointelegraph, the decentralized exchange (DEX) PancakeSwap's total trading volume in 2024 reached $310 billion, a nearly 179% increase from $111 billion in 2023. PancakeSwap reported that this was mainly due to the L2 networks Arbitrum and Base, with cryptocurrency trading volume on Arbitrum increasing by 3,656% year-on-year to $13.2 billion, while trading volume on Base increased by 3,539%, reaching $11.6 billion in 2024. Additionally, PancakeSwap's trading volume increased by 179% year-on-year, reflecting positive market sentiment and increased activity in the DeFi and DEX sectors.

South Korea's average daily cryptocurrency trading volume in November is on par with the stock market, total investors exceed 15 million

According to Naver, data from the Bank of Korea shows that as of the end of November, the number of cryptocurrency investors in South Korea reached 15.59 million, an increase of 610,000 from October. This figure accounts for over 30% of the country's total population, reflecting increased market activity following President Trump's commitment to support the cryptocurrency industry. The rise in Bitcoin prices has also fueled this trend. As of the end of November, the total cryptocurrency holdings of South Korean investors amounted to 102.6 trillion won (approximately $70.8 billion), compared to 58 trillion won (approximately $40 billion) in October. The average daily trading volume in November reached 14.9 trillion won (approximately $10.288 billion), equivalent to the combined average daily trading volume of the KOSPI and KOSDAQ markets in South Korea for the same month.

An address on the Ethereum chain with a balance of approximately 13.14 million USDT has been frozen

According to Whale Alert monitoring, at around 06:36 Beijing time today, an address on the Ethereum chain with a balance of 13,145,135 USDT was frozen.

An anonymous user staked 10,000 BTC on Babylon 10 days ago, worth over $1 billion

The Bitcoin staking protocol Babylon disclosed on its official blog that on December 15, during the third launch of the Babylon Bitcoin staking protocol mainnet, an anonymous staker staked 10,000 Bitcoins through three transactions, worth over $1 billion. Babylon stated: "Prior to this, the largest staking amounts came from entities wishing to stake for their users (such as LST protocols and custodians), but an individual staking such a large amount is particularly significant for Babylon and its protocol. Regardless of who this person is, their decision to stake directly with Babylon rather than through LST brings the concept of 'trustless' staking from the abstract to the concrete."

30 new wallets withdrew 1.37 million LINK from Binance in 5 days, worth about $34.1 million

According to Lookonchain monitoring, in the past 5 days, a total of 30 newly created wallets withdrew 1.37 million LINK from Binance, worth approximately $34.1 million.

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