December 2, 2024 Web3 Crypto Industry News
Data Indicators
- Total market capitalization of cryptocurrencies: $0.88 trillion
- BTC market capitalization percentage: 39.15%
- Fear and Greed Index: 30 (Fear)
Policy and Regulation
1. US Inflation and Monetary Policy
- Biden stated that inflation is decreasing and the economy is improving.
- BlackRock predicts that the Federal Reserve may pause interest rate hikes in the coming months, based on an annual CPI of 7.10% and a core CPI of 6% in November.
2. Global cryptocurrency market regulation is tightening.
- The Bank of England calls for stronger regulation and enforcement of the cryptocurrency market.
- The Canadian Securities Administrators will implement a stricter regulatory framework for cryptocurrency trading platforms.
- The Hong Kong Securities and Futures Commission warns that most platforms providing virtual asset returns are unregulated, including services such as deposits and staking.
Market Dynamics
1. A JPMorgan report shows that 13% of Americans hold cryptocurrency.
2. The Grayscale Bitcoin Trust (GBTC) has a negative premium exceeding 50% for the first time.
3. The US CFTC reaffirms Ethereum as a commodity.
4. A Binance spokesperson stated that user funds are 1:1 supported and plans to disclose more token reserves. Net withdrawals exceeded $3.6 billion in the past 7 days.
5. FTX incident update
- FTX founder SBF has been criminally charged with telecom fraud, conspiracy, and violations of campaign finance regulations.
- FTX non-US customers have established a customer committee, with losses of about $1.6 billion.
6. Tether announced it will reduce collateralized loans in reserves to zero by 2023.
7. The Waves ecosystem stablecoin USDN fell to a low of 0.55 USDT, currently rebounding to 0.72 USDT.
8. zkSync has postponed the Fair Onboarding Alpha and Full Launch Alpha to the first and second quarters of 2024.
Metaverse and Blockchain Games
- Lighthouse Labs has launched an open metaverse navigation engine.
NFT Market
- The total transaction volume of ENS domain names has surpassed $200 million.
Investment Trends
1. DeFi infrastructure provider Sooho.io has completed $4.5 million in funding.
2. The Polkadot-based Web3 music platform Public Pressure has raised $6 million in funding.
3. The main developer of the NFT AMM innovation SudoSwap, SudoRandom Labs, has completed $12.5 million in private placement financing.
4. The Web3 pet game DOGAMÍ has completed a $7 million expansion seed round financing.
5. MetaVersusWorld has secured $2 million in seed funding.
Web3 Development
1. Discord's Linked Roles feature now supports Solana.
2. Ernst & Young has opened an Asia-Pacific technology lab in Shenzhen, focusing on blockchain and Web3 innovation.
3. TwitterScan partners with iQIYI's Web3 project Producer C.
Industry Trends
- Venture capital shifts to decentralized platforms: According to PitchBook data, despite the crypto winter, Web3 companies continue to attract significant VC funding, with revenue from Web3-based content platforms expected to reach $39 billion by 2027.
- Cryptocurrency hacks: In the second quarter of 2023, the Web3 industry lost over $300 million due to hacks and exploits.
- Legal challenge: Former LDO holders have filed a class action lawsuit against LidoDAO, alleging liability for crypto losses.
Upcoming Major Events
- The Chicago Board Options Exchange has launched a spot Bitcoin options product.
- The Magic Eden token TGE is about to become a market focus.
- December global Web3 activities: Major summits across Europe and Asia-Pacific, covering topics such as technological innovation, industry trends, and regulatory policies.
This information reflects the latest dynamics and development trends in the current Web3 cryptocurrency industry, covering multiple aspects such as policy, market, technology, and investment.
