Headlines
▌BTC falls below $96,000
Market shows BTC falling below $96,000, currently reported at $95,963.33, with a 24-hour drop of 0.94%. Market volatility is high, please ensure risk control.
▌Federal Reserve's Goolsbee: Inflation rate is still expected to reach 2%
Federal Reserve's Goolsbee stated that the inflation rate is still expected to reach 2%. Today's data shows that the recent inflation spike is just a 'bump.' He predicts that the interest rate path in 2025 will be slightly lower. Interest rates may drop significantly in the next 12 to 18 months.
Market
As of the time of writing, according to Coingecko data:
BTC's recent transaction price is $97,368.45, with a daily change of +0.3%;
ETH's recent transaction price is $3,468.03, with a daily change of +1.4%;
BNB's recent transaction price is $682.60, with a daily change of +2.2%;
SOL's recent transaction price is $195.01, with a daily change of -0.2%;
DOGE's recent transaction price is 0.3276 yuan, with a daily change of +3.4%;
XPR's recent transaction price is $2.27, with a daily change of -1.3%.
Policy
▌U.S. Republicans launch a C plan to avoid government shutdown
Republicans in the U.S. House of Representatives are looking for ways to avoid a government shutdown, and their second funding proposal was rejected on Thursday night. There are only a few hours left until the deadline on Friday. House Speaker Johnson stated earlier on Friday that Republicans have reached a C plan to avoid a government shutdown and plan to vote soon. Senate Republicans witnessed the failure of two proposals to fund the government through Christmas in the House, which they called 'chaotic farce' and 'abject failure.' Incoming Senate Majority Leader John Thune (Republican) stated as he left the Capitol, 'I think everything is back to square one.'
▌LDP in Japan promotes cryptocurrency tax reform, proposing a 20% separate tax
On December 20, news reported that according to Coinpost, the Web3 working group led by LDP member Akihisa Shiozaki reported that the LDP's administrative investigation committee officially approved an emergency proposal on the 19th (regarding converting cryptocurrency assets into beneficial assets for the national economy). The report pointed out that under the current tax system, income generated from cryptocurrency transactions is generally classified as miscellaneous income and is subject to comprehensive taxation at the highest rate of 55% (combined income tax and resident tax), which is harsher than in other countries. Considering the above points, and whether cryptocurrency assets should be treated as financial assets for public investment, the following should be considered: changing the taxation of profits and losses generated from cryptocurrency transactions to a 'separate declaration tax' system at a 20% tax rate, allowing losses from cryptocurrency income to be carried forward for deductions (usable within the next 3 years), and applying the 'separate declaration tax' system to cryptocurrency derivatives trading.
Blockchain Applications
▌Saga will launch Vaults 2.0 in 2025
On December 20, news broke that the modular blockchain Saga announced via Twitter that it will launch Vaults 2.0 in 2025. Vaults 2.0 will provide features for unstaking and restaking, introduce new LP rewards, stake and provide liquidity on Saga Uniswap to maximize returns, and wallet staking and LPing bonuses. The LPing rewards will be based on the fees generated, liquidity provided, and tokens held.
▌Mantle Network will launch ZK Validity Rollup through Succinct SP1
On December 20, news reported that the modular L2 network Mantle announced a partnership with ZK proof startup Succinct to launch a ZK Validity Rollup testnet in Q1 2025 through Succinct SP1, representing Mantle's transition from the current Optimistic Rollup model to the ZK Validity Rollup model. Mantle stated, 'With ZK Validity Rollup, the finality time can be shortened from 7 days to 1 hour, making Mantle Network economically closer to Ethereum L1, thus achieving better exchange market price differences, lower slippage, and better money markets.'
Cryptocurrency
▌Trump's crypto project WLFI increases its holding to 759 ETH
According to ARKM monitoring, Trump's crypto project WLFI spent 2.5 million USDC 6 minutes ago to exchange for 759 ETH.
▌French regulator authorizes BPCE subsidiary to engage in cryptocurrency business
The French financial market regulator Autorité des Marchés Financiers (AMF) has approved French bank BPCE to engage in cryptocurrency business. According to the official notice released by AMF on December 20, BPCE's cryptocurrency subsidiary Hexarq has obtained authorization as a Crypto Asset Service Provider (CASP). Upon approval, Hexarq is officially authorized to provide a range of crypto services, including crypto custody, as well as buying, selling, and trading cryptocurrencies for euros.
▌Digital bank and blockchain platform Metallicus acquires Bonifii, connecting over 70 credit unions to Metal blockchain
The digital bank and blockchain platform Metallicus announced the acquisition of fintech service company Bonifii, a CUSO connected to 70 credit unions. This acquisition brings the total number of Metallicus's credit union partners to over 80, with more than 16 already utilizing Metal blockchain technology. Before the acquisition, Bonifii had raised about $20 million in several rounds of early investment and seed funding. Details of Metallicus's financial condition do not appear to be publicly available; CoinMarketCap reports that the market capitalization of Metal blockchain is $13.65 million.
Important Economic Dynamics
▌U.S. stock indices opened lower collectively, and cryptocurrency concept stocks fell collectively
U.S. stock indices opened lower collectively, with the Dow down 0.36%, Nasdaq down 0.94%, and S&P 500 down 0.57%. Cryptocurrency plummeted, and related concept stocks fell collectively. Coinbase, Bit Digital, and Canaan Creative fell over 3%, while MicroStrategy fell over 2%.
▌Today's Fear and Greed Index has dropped to 73, still in the Greed level
Today's Fear and Greed Index has dropped to 73, still in the Greed level. Note: The fear index threshold is 0-100, including indicators: volatility (25%) + market trading volume (25%) + social media popularity (15%) + market surveys (15%) + Bitcoin's proportion in the entire market (10%) + Google Trends analysis (10%).
Golden Encyclopedia
▌What is Rollup?
Rollup is a method of processing transactions on Layer 2 protocols that can free up valuable space on the base layer. Rollups fold transactions on the second layer, sometimes folding dozens of times, and then roll them together, sending the data back to Layer 1. There are mainly two types of Rollups: optimistic and zero-knowledge (ZK) proofs. Optimistic Rollup is a relatively clear term. It means that Rollup operates on an 'optimistic' approach, assuming transactions are valid unless a validator proves otherwise. They only check the validity of transactions in the event of a dispute. ZK Rollup proves transactions without revealing any transaction data. Thus, it is called 'zero knowledge.' ZK Rollup provides instant finality, as cryptographic proofs guarantee data validity. In many ways, Rollup is to your standard blockchain transaction what Calzone is to a regular pizza slice. By rolling up, you can fit more in.
Disclaimer: Golden Finance, as a blockchain information platform, publishes articles for informational reference only and does not constitute actual investment advice. Please establish correct investment concepts and be sure to enhance risk awareness.
