Today's News Highlights:
An address that acquired 1,940 ETH in the Ethereum ICO awakens after 9.4 years of dormancy
Matrixport: The Bitcoin bull market in 2025 may face various potential risk factors
Binance Alpha adds arc, WHY, APU, HAPPY, and FWOG
Xterio will hold its TGE on January 8, 2025
1.69 trillion BONK have been destroyed, worth over $50 million
Binance: The BNSOL super staking will launch the third project MANTRA (OM)
Regulation/Macro
Bitwise applies to the US SEC for the "Bitcoin Standard Corporations ETF"
According to Cointelegraph, Bitwise has applied to the US Securities and Exchange Commission (SEC) for the Bitcoin Standard Corporations ETF. This fund aims to invest in the stocks of companies that adopt the Bitcoin standard, with at least 1,000 BTC in their company funds.
BlackRock doubles down on investment in IBIT through its Global Allocation Fund
According to Cryptoslate, documents submitted by BlackRock to the SEC show that as of October 31, its Global Allocation Fund holds 430,770 shares of the spot Bitcoin ETF IBIT, valued at over $17 million. This figure represents a 117% increase compared to the 198,874 shares reported on July 31, as pointed out by a user named MacroScope on X. Additionally, the current reported number of IBIT shares is more than ten times higher than the 43,000 shares registered in the first quarter. The Global Allocation Fund is a diversified investment product from BlackRock that covers stocks, bonds, and short-term securities in both US and foreign markets, with its portfolio adjusted regularly. Despite BlackRock's increased investment in its Bitcoin products, IBIT shares account for only 0.1% of the Global Allocation Fund's total size of $16.5 billion.
Asset management company Strive, linked to Trump, applies for a "Bitcoin Bond" ETF
According to Cointelegraph, based on documents submitted on December 26, asset management company Strive, founded by Vivek Ramaswamy, has applied to US regulators to list an ETF that will invest in Bitcoin convertible bonds issued by MicroStrategy and other companies. These bonds, referred to as "Bitcoin Bonds," are convertible securities issued by companies that plan to use the proceeds primarily for purchasing Bitcoin. The Strive Bitcoin Bond ETF will be actively managed, directly or through financial derivatives (such as swaps and options) to access these "Bitcoin Bonds." Although Strive has not specified the management fees required from investors, actively managed funds typically have higher fees than passive index funds. Vivek Ramaswamy is a vocal supporter of elected President Trump and founded Strive Asset Management in 2022. In November of this year, Trump announced that Ramaswamy would lead the Department of Government Efficiency (DOGE) alongside Tesla founder Elon Musk, a private initiative aimed at reducing government wasteful spending. Earlier in November, it was reported that Strive established a wealth management division that includes Bitcoin in its standard investment portfolio.
Project Updates
Binance Alpha adds arc, WHY, APU, HAPPY, and FWOG
According to official news, Binance Alpha has announced the eighth batch of project tokens, including arc, WHY, APU, HAPPY, and FWOG.
Binance will support the Optimism (OP) network upgrade and hard fork
According to an official announcement, Binance is expected to suspend the token recharge and withdrawal services for the Optimism (OP) network on January 10, 2025, at 01:00 (UTC+8) to support its network upgrade and hard fork. The project team will conduct the network upgrade and hard fork at approximately 02:00 (UTC+8) on January 10, 2025.
Xterio will hold its TGE on January 8, 2025
Game infrastructure and AI game studio Xterio officially announced that its Token Generation Event (TGE) is scheduled to officially start on January 8, 2025. The official stated that this will usher in a new era that integrates AI, gaming, and community.
Jupiter will airdrop 700 million JUP next month, with approximately 2.3 million eligible wallets
The decentralized exchange Jupiter in the Solana ecosystem announced that it will conduct a JUPuary airdrop next month, totaling 700 million JUP tokens, worth over $590 million. Of this, 425 million JUP will be allocated to users, with 75 million JUP reserved for stakers; the number of eligible wallets is approximately 2.3 million, including 2 million Swap trading users and 320,000 professional traders; each staked JUP will earn a reward of 0.1 JUP. Jupiter emphasized that this allocation plan is a draft and may be adjusted.
According to The Block, Siqi Chen, CEO and CFO of the entrepreneurial finance platform Runway, posted yesterday calling for donations to support the Ccancer lab at the University of Colorado. This lab is the only institution in North America researching pediatric craniopharyngioma, a condition affecting Siqi Chen's young daughter, Mira. Thanks to the retweets and promotions from several well-known X users, including X platform CEO Linda Yaccarino, as of the time of writing, the fundraising initiated by Siqi Chen on GoFundMe has surpassed $230,000. Unexpectedly, a user from Pump.Fun created a meme coin named Mira, which once had a market cap of $80 million. Fortunately, X user Waddles quickly purchased and gifted Siqi Chen 50% of the coin's supply after its issuance, instantly raising his holdings' value to several million dollars. However, when Siqi Chen announced plans to gradually sell these Mira coins and donate all proceeds to the lab, the coin's market cap began to decline, dropping to $14 million at one point. Siqi Chen disclosed his selling plan on the X platform: "Starting around 3 AM UTC on December 27, I will sell $1,000 worth of Mira coins every 10 minutes, without interruption. If there are any changes to the plan, I will notify 24 hours in advance." He acknowledged that some traders might profit without intending to donate, but overall, he believes this event has had a positive impact. He revealed, "Our original goal was to raise $200,000, but we will ultimately raise at least $1 million for rare disease research. This is undoubtedly a victory for the world." As of the time of writing, Mira's market cap has fallen to around $19 million. Meanwhile, a meme coin named "kitkat," named after Mira's dog, briefly reached a market cap of $3 million but has now dropped to about $150,000. Siqi Chen stated, "Every penny we receive from the kitkat/Meme coin, including LP fees, after tax deductions, will be directly used for rare disease research."
1.69 trillion BONK have been destroyed, worth over $50 million
According to SolanaFloor, the Solana ecosystem meme coin BONK has destroyed 1.69 trillion BONK (worth approximately $52.28 million) from its total supply after the proposal was approved by Bonk DAO.
Binance: The BNSOL super staking will launch the third project MANTRA (OM)
According to Binance's announcement, the BNSOL super staking will launch the third project MANTRA (OM) from January 1, 2025, 8:00 to February 1, 2025, 7:59 (Beijing time). Users holding BNSOL or staking SOL to BNSOL during this period can receive OM APR Boost airdrop rewards. The OM APR Boost airdrop rewards will be available for collection daily starting from January 2, 2025, around 13:30 (UTC+8). MANTRA is a Layer 1 blockchain focused on tokenizing real-world assets.
Insights
Matrixport: The Bitcoin bull market in 2025 may face various potential risk factors
Matrixport pointed out in its latest weekly report that the Bitcoin bull market in 2025 may face various potential risk factors. Among them, BlackRock has stated that the decentralized nature of the Bitcoin protocol may not fully guarantee the supply cap of 21 million, sparking market discussions. Additionally, Google announced the launch of the 105-qubit "Willow" quantum chip, raising concerns about the potential threat of quantum computing to Bitcoin's security, although the technology is still in its early stages. The report also mentioned that the Federal Reserve recently raised its inflation expectations, partly due to concerns over potential tariffs from Trump, but the actual impact may be limited. Matrixport believes that inflation issues may not be significant next year, providing room for the Federal Reserve to maintain a dovish stance. Furthermore, historical data shows that Bitcoin bull markets often peak during periods of high regulatory pressure. As regulatory issues such as the approval of Bitcoin spot ETFs in the US gradually resolve, the end of this bull market may be driven by other factors. The report warns that the Federal Reserve may adopt a more hawkish monetary policy after Trump's election, which would bring new uncertainties to Bitcoin and the crypto market.
Greeks.Live analyst Adam stated that December 27 marks the last options expiration of the year, with 150,000 BTC options expiring, a Put Call Ratio of 0.69, and a maximum pain point of $85,000, with a nominal value of $14.17 billion; at the same time, 1.12 million ETH options are expiring, with a Put Call Ratio of 0.41, a maximum pain point of $3,000, and a nominal value of $3.74 billion. The total nominal value of this expiration is approximately $18 billion. Due to the overlap of Christmas and the annual expiration, the overall market enthusiasm is relatively low, and this week's theme remains focused on adjustments. Additionally, Bitcoin's annual returns in 2024 are expected to more than double, especially with strong year-end performance, leading to optimistic expectations for 2025. Analysts point out that after Trump takes office in January, he may become the most crypto-friendly president, while Musk's influence will further drive the development of the crypto industry. The integration of mainstream finance and crypto, along with the US government and corporate reserves of Bitcoin, is expected to have a positive impact on the market, potentially leading to a sector rotation bull market in the coming months. Previously, it was reported that the largest ETH block option purchase on Deribit today was a call option with a strike price of $4,000 expiring on January 10 next year.
Pantera Capital: Adjusted stablecoin trading volume exceeds $5 trillion in 2024
According to Crowdfund Insider, Pantera Capital pointed out in a blog that while cryptocurrencies are often focused on their volatility, tokens, and liquidity, stablecoins are the key force quietly driving the adoption of cryptocurrencies. From only 3% of blockchain transactions in 2020, stablecoins now consistently account for over 50% of transaction volume, achieving significant growth. Pantera Capital emphasizes that stablecoins represent a killer value proposition for cryptocurrencies and are essentially non-speculative. In 2024, adjusted stablecoin trading volume is expected to exceed $5 trillion, involving nearly 200 million accounts, marking a breakthrough moment. This time, stablecoins are not limited to the decentralized finance (DeFi) ecosystem but are widely applied in other areas. Over the past few years, stablecoins have enabled seamless cross-border payments by providing access to the US dollar, especially in emerging markets where demand for the dollar is strong. Pantera Capital adds that stablecoins offer a tenfold value proposition compared to traditional payment channels, applicable for B2C payments (such as remittances) and B2B cross-border transactions. According to Juniper Research, cross-border B2B payments through traditional payment channels are expected to reach approximately $40 trillion in 2024. In the consumer payment market, global remittance annual revenue reaches hundreds of billions of dollars, while stablecoins are becoming a new means for global cross-border remittances through crypto channels. With the rapid adoption of B2C and B2B payments, the supply and trading volume of on-chain stablecoins are reaching historical highs.
Important Data
An address that acquired 1,940 ETH in the Ethereum ICO awakens after 9.4 years of dormancy
According to Lookonchain monitoring, an address that acquired 1,940 ETH in the Ethereum ICO has awakened after 9.4 years of dormancy and transferred 0.01 ETH to a new wallet. The cost of participating in the ICO was $601, and the current value of these tokens is $6.56 million.
According to statistics from Trader T and Tree News, the net inflow of the US Bitcoin spot ETF yesterday was $475.15 million, and the net inflow of the Ethereum spot ETF was $117.7 million.
A whale withdrew 15,332 ETH from Binance 20 minutes ago, worth approximately $51.77 million
According to PANews on December 27, on-chain analyst Yu Jin monitored that a whale address withdrew 15,332 ETH (approximately $51.77 million) from Binance 20 minutes ago. He then deposited 7,500 ETH into StakeStone to exchange for beraSTONE, and paired it with 7,830 ETH to provide liquidity on UniswapV3.
A new address withdrew 125,990 SOL from Binance nine hours ago, worth $24.02 million
According to on-chain analyst @ai_9684xtpa, a new address Eh2TE…HyzEYq withdrew 125,990 SOL from Binance nine hours ago, worth $24.02 million, with a cost of $190.8. The wallet currently holds a total of 125,999 SOL.
ETH/BTC bull James Fickel again exchanged 6,500 WETH for 225.6 WBTC
According to on-chain analyst @ai_9684xtpa, steadfast ETH/BTC bull James Fickel again exchanged 6,500 WETH for 225.6 WBTC six hours ago, valued at $21.68 million, with WBTC costing $95,791.6. He is still staking 85,038 stETH on Aave and borrowing 227 WBTC, with a total value of ETH holdings reaching $300 million. The current ETH/BTC exchange rate is 0.03505.
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