Crypto Morning Report: Galaxy Research predicts that BTC will break through $150,000 in the first half of next year, and tokens such as SUI, OP, and ZETA will see significant unlocks this week.

According to the current data from this indicator, the proportion of long-term holders of Bitcoin is 62.31%, while the proportion of long-term holders of Ethereum is 75.06%.

Author: Deep Tide TechFlow

Market Dynamics Yesterday

Zerebro Co-founder Jeffy Yu: Building a Consumer-Focused Proxy Launch Platform Zentients

Zerebro co-founder Jeffy Yu posted on X, stating that the team is building a consumer-focused proxy launch platform ZENTIENTS. Jeffy Yu pointed out that the uniqueness of $ZEREBRO lies in the fact that all tokens are circulating, so the team is not building a traditional "token economics," which refers to how tokens are issued, distributed, and attributed over time. Instead, this is a value accumulation framework driven by the Zerebro stack, consisting of three parts:

Zerebro, the main proxy
ZerePy, the proxy framework
Zentients, the consumer proxy launch platform

The goal of Zentients is to create a seamless UI/UX to launch and grow proxies while returning value to ZEREBRO. Jeffy Yu mentioned that specific details are still being finalized but hopes to maintain the simplicity of the framework:

Proxies need to pay $ZEREBRO as a creation fee and will launch on the $ZEREBRO joint curve with fees.
Once the proxy token reaches a specific valuation, the token will graduate (liquidity in the joint curve will be deposited and locked in DEX).
After that, traders can buy and sell in real-time liquidity pools using $ZEREBRO.

Additionally, Jeffy Yu stated that another key idea being explored is the development of a standardized proxy communication layer—a "TCP for proxies." This will involve creating a structured payload format for messaging between proxies, ensuring that all proxies can send and receive messages in a consistent, framework-agnostic manner.

IRS Requires DeFi Brokers to Report Digital Asset Sales Revenue and Collect User Transaction Information Starting in 2027

The IRS has finalized rules requiring DeFi brokers to report total revenue from digital asset sales and provide customers with 1099 forms, collecting user transaction information, including names and addresses. The Treasury noted that the final rules apply to "front-end service providers" that "interact directly with customers," meaning entities operating major websites used to access decentralized protocols, rather than the protocols themselves. According to the documents, the rules are expected to take effect on or after January 1, 2027. The idea of strengthening tax enforcement for digital asset service providers first appeared in the Infrastructure Investment and Jobs Act passed in 2021 to help pay for expenditures authorized by the act.

a16z Crypto: Supporting Blockchain Association's Lawsuit Against IRS Over "DeFi Broker" Rules

a16z Crypto's regulatory head Michele Korver posted on X, stating: "We at a16z Crypto believe that DeFi will make financial services and the digital economy more convenient, efficient, interoperable, reliable, and consumer-centric. However, yesterday the Treasury Department released new broker reporting rules that pose a direct threat to this promise and undermine the future of DeFi innovation in the U.S. We at a16z Crypto support the Blockchain Association, DeFi Education Fund, and Texas Blockchain Council in their lawsuit because the IRS and Treasury have exceeded their statutory authority, violated the Administrative Procedure Act (APA), and are unconstitutional. DeFi builders should have confidence that industry lawyers are working to protect this technology. We will continue to fight on all fronts—in court, in Congress, and with the help of the new administration."

VolatilityShares Applies to Launch Leveraged ETF Based on Solana Futures

The president of The ETF Store, Nate Geraci, tweeted that Volatility Shares has submitted an application to the U.S. SEC for a trading open-ended index fund (ETF) based on Solana futures, covering 1x, 2x, and -1x leveraged exposure. VolatilityShares has actively pushed the SEC to launch an Ether futures ETF.

Galaxy Research Annual Forecast: BTC to Break $150,000 in the First Half, ETH to Exceed $5,500

Galaxy Research released a 2025 forecast report covering Bitcoin and Ethereum prices, DOGE, stablecoins, DeFi, L2s, policies, VC, and more. The specifics are as follows:

Bitcoin will break $150,000 in the first half and test or reach $185,000 in Q4 2025.
By 2025, the assets under management of U.S. spot Bitcoin ETPs will exceed $250 billion.
In 2025, Bitcoin will again be one of the best-performing assets globally on a risk-adjusted basis.
At least one top wealth management platform will announce a recommendation for a Bitcoin allocation of 2% or higher.
Five companies in the Nasdaq 100 index and five nation-states will announce adding Bitcoin to their balance sheets or sovereign wealth funds.
Bitcoin developers will reach consensus on the next protocol upgrade in 2025.
Among the top 20 publicly traded Bitcoin miners by market capitalization, more than half will announce transformations or partnerships with hyperscale providers, AI, or high-performance computing companies.
Bitcoin DeFi (defined as the total amount of BTC locked in DeFi smart contracts and deposited in staking protocols) will nearly double by 2025.
The trading price of Ethereum will exceed $5,500 in 2025.
The Ethereum staking rate will exceed 50%.
The ETH/BTC ratio will be below 0.03 in 2025 but above 0.06 by the end of the year.
In 2025, L2s as a collective will generate more economic activity than Alt L1s.
As on-chain applications distribute at least $1 billion in nominal value to users and token holders from vaults and revenue sharing, DeFi will enter a "dividend era."
On-chain governance will see a revival, and applications will attempt future governance models.
In 2025, the four major global custodians will hold digital assets.
At least ten stablecoins supported by TradFi partners will be launched.
By 2025, the total supply of stablecoins will double, exceeding $400 billion.
Tether's long-standing market dominance will fall below 50%, challenged by yield alternatives such as Blackrock's BUIDL, Ethena's USDe, and even Coinbase/Circle's USDC rewards.
The total amount of crypto venture capital will exceed $150 billion, growing by over 50%.
Stablecoin legislation will pass in both houses of Congress and be signed by President Trump in 2025, but market structure legislation will not.
The U.S. government will not purchase Bitcoin in 2025 but will use its existing Bitcoin holdings to establish reserves, and departments and agencies will also take action to explore expanding Bitcoin reserve policies.
The SEC will investigate the first so-called "special purpose broker-dealer" Prometheum.
Dogecoin will eventually reach $1, and the market capitalization of the world's largest and oldest memecoin will reach $100 billion.

IntoTheBlock: ETH Long-Term Holder Ratio Rises, BTC Long-Term Holder Ratio Declines

IntoTheBlock disclosed on X the trends in the percentage of long-term holders of Bitcoin and Ethereum over the past year, showing that the proportion of long-term holders of Bitcoin has declined, while the proportion of long-term holders of Ethereum has continuously risen and surpassed that of Bitcoin at the beginning of the year. According to the current data from this indicator, the proportion of long-term holders of Bitcoin is 62.31%, while the proportion of long-term holders of Ethereum is 75.06%.

Data: SUI, OP, ZETA and Other Tokens Will Experience Large Unlocks This Week, with SUI Unlocking Approximately $270 Million

Tokens such as SUI, OP, and ZETA will experience large unlocks this week, including:

Sui (SUI) will unlock approximately 64.19 million tokens at 8 AM Beijing time on January 1, 2025, accounting for 2.19% of the current circulating supply, valued at approximately $270 million;

Optimism (OP) will unlock approximately 31.34 million tokens at 8 AM Beijing time on December 31, 2024, accounting for 2.32% of the current circulating supply, valued at approximately $58.6 million;

ZetaChain (ZETA) will unlock approximately 53.89 million tokens at 8 AM Beijing time on January 1, 2025, accounting for 9.35% of the current circulating supply, valued at approximately $32 million;

Beldex (BDX) will unlock approximately 330 million tokens at 8 AM Beijing time on December 30, 2024, accounting for 4.78% of the current circulating supply, valued at approximately $26.1 million;

Sleepless AI (AI) will unlock approximately 23.21 million tokens at 8 AM Beijing time on January 1, 2025, accounting for 17.85% of the current circulating supply, valued at approximately $14.6 million;

Azuki Founder: ANIME Will Not Have TGE Before Year-End, Tokens Will Launch Before Mainnet

Azuki founder Zagabond disclosed to the community that $ANIME will not have a TGE before the end of the year, but a related announcement will be made soon. $ANIME will launch on the Anime Chain first.

Crypto Morning Report: Galaxy Research predicts that BTC will break through $150,000 in the first half of next year, and tokens such as SUI, OP, and ZETA will see significant unlocks this week.

Market Dynamics Yesterday

Market Dynamics

Recommended Reading

Selected Articles by 深潮TechFlow

Table of Contents

Related Articles