Headlines
▌Over 80,000 BTC have flowed out of exchange wallets in the past 30 days.
According to the latest data, 9,335.34 BTC flowed out of exchange wallets in the last 24 hours, while 3,335.07 BTC flowed into exchange wallets in the last 7 days, and 80,989.21 BTC flowed out of exchange wallets in the last 30 days. As of the time of writing, the total balance of exchange wallets is 2,243,869.39 BTC.
▌A whale transferred 3,370 ETH to Kraken 9 hours ago.
According to on-chain analyst Yu Jin, a whale that acquired 200,000 ETH from the Ethereum genesis block in 2015 transferred 3,370 ETH (approximately $11.37 million) to Kraken 9 hours ago. This year, he has transferred 48,687 ETH (approximately $171.78 million) to Kraken, with an average transfer price of $3,528. However, after 8 years of gradual selling, he has nearly sold all his ETH. Currently, only 7,594 ETH (approximately $2.572 million) remain, and with 1-2 more sales, it could be completely emptied.
Market conditions
As of the time of writing, according to Coingecko data:
The recent trading price of BTC is $94,836.25, with a daily change of +0.5%;
The recent trading price of ETH is $3,377.90, with a daily change of +1.4%;
The recent trading price of BNB is $715.35, with a daily change of +2.9%;
The recent trading price of SOL is $192.49, with a daily change of +4.0%;
The recent trading price of DOGE is 0.3218 yuan, with a daily change of +2.5%;
The recent trading price of XPR is $2.17, with a daily change of +1.3%.
Policies
▌Galaxy Digital research director: If the IRS ultimately classifies DeFi front ends as brokers, the industry will face a difficult choice.
Galaxy Digital research director Alex Thorn stated that if the IRS does not withdraw its rule classifying DeFi front ends as brokers, the DeFi industry will face three options: comply with the IRS reporting requirements and accept the classification as brokers, attempt to block users from the U.S., or abandon smart contract upgrades and revenue generation. Yesterday, the IRS announced final regulations requiring brokers to report digital asset transactions, incorporating DeFi platforms into the existing tax framework. The rule will take effect in 2027 and will require brokers to disclose transaction details, including total revenue and taxpayer information. Brokers must begin collecting and reporting data starting in 2026. The IRS estimates that between 650 and 875 DeFi brokers will be affected, potentially impacting up to 2.6 million taxpayers. These regulations primarily target front-end service providers for trading, such as DEXs facilitating digital asset transactions. According to the IRS, classifying these platforms as intermediaries will help ensure tax compliance.
▌CryptoQuant founder: Trump's Bitcoin policy depends on the U.S. economic position.
CryptoQuant CEO and founder Ki Young Ju stated that the Bitcoin policy of President-elect Donald Trump may depend on the global investment community's view of the U.S. economy and the strength of the dollar. Ju believes that when investors perceive that U.S. economic hegemony is threatened, the prices of value storage assets like gold and BTC will soar. However, investors continue to express confidence in the U.S. economy and view the dollar as a safe-haven currency. This advantageous position makes it less likely that the Trump administration will adopt a Bitcoin strategic reserve to protect the dollar's dominance, and it may lead the president-elect to backtrack on supportive Bitcoin policies.
▌Magic Eden's general counsel: David Sacks has only two years to push for pro-cryptocurrency policies.
Magic Eden's general counsel Joe Doll recently stated that David Sacks has only two years before the 2026 U.S. midterm elections to push for pro-cryptocurrency policies. The threat of government gridlock could stifle regulation, and the current administration must push for pro-cryptocurrency policies while still controlling both houses of Congress. "The majority of the House is very slim and is likely to flip, as the House often flips. So you may encounter a divided government that will solidify things in two years. Therefore, we have 24 months to push for something significant."
Blockchain applications
▌Sophon completes mining migration and opens mainnet mining.
The modular blockchain Sophon based on ZKsync announced the completion of its mining migration and has entered the second phase, with mainnet mining now open. Previously, Sophon announced the mining migration timeline: the L1 mining withdrawal window will close on December 27 at 7:59; all remaining assets will automatically cross-chain to the Sophon mainnet on December 27, marking the end of the first phase of SP point accumulation; mainnet mining will open on December 28.
▌Ethena's Berachain incentive pre-deposit treasury has now been launched.
Ethena Labs announced that Ethena's Berachain incentive pre-deposit treasury has now been launched, accepting deposits in USDe, sUSDe, and USDC/USDT. Concrete has launched two Ethena pre-deposit treasuries for the Berachain deposit plan, which are the first places that allow users to retain dollar exposure while earning Berachain rewards and participating in its ecosystem. After the mainnet launch of Berachain, the pre-deposit treasury will deploy liquidity across whitelisted protocols within the Berachain ecosystem. Deposits in USDe and sUSDe will be eligible for Ethena rewards, Concrete Points, BERA, and native ecosystem rewards.
Cryptocurrency
▌A dormant address containing 357 BTC was activated after 11.0 years, amounting to approximately $34 million.
According to on-chain data tracking service Whale Alert, a dormant address containing 357 BTC (approximately $34,070,177) has just been activated after 11.0 years.
▌The probability of approval for the spot Solana ETF on Polymarket has risen to 71% before July 31 of next year.
The probability of the U.S. SEC approving the spot Solana ETF application before July 31, 2025, has risen to 71% on Polymarket. Yesterday, Nate Geraci, president of The ETF Store, revealed that VolatilityShares has submitted an application to U.S. regulators to launch a leveraged ETF based on Solana futures. Bloomberg senior ETF analyst Eric Balchunas stated on the X platform that if the Solana futures ETF is approved, it could promote the listing of the spot Solana ETF.
▌The U.S. spot Bitcoin ETF has purchased 511,314 BTC this year and currently holds 1.13 million BTC.
According to HODL15 Capital monitoring, the U.S. spot Bitcoin ETF has purchased 511,314 BTC this year and currently holds 1.13 million BTC, accounting for 5.4% of all Bitcoin.
▌El Salvador currently holds 6,000 BTC.
According to a post by Bitcoin Magazine on X platform, El Salvador currently holds 6,000 BTC, worth over $569 million.
Important economic dynamics
▌Analysis: The positive correlation between the Korean stock index and BTC price has been broken, with funds shifting from the stock market to the crypto market.
Since the beginning of this year, Asian stock markets have shown mixed performance against the backdrop of a strong dollar. Some have achieved local currency-denominated bull markets at the expense of currency depreciation, while others have sacrificed some gains in the stock market for relatively stable exchange rates. Only South Korea is an exception. In terms of Korean won, the Korean composite index KSOPI has fallen by 10.0% this year. Considering the decline of the Korean won, the dollar-denominated KSOPI has dropped by 18.9%, making it the weakest in Asia. From the perspective of capital flows, since the second half of this year, only institutions in South Korea have maintained a net buying scale in the stock market, while the resident sector has been continuously reducing purchases. Analysts believe that a large portion of the money that Korean residents have pulled out of the stock market has gone into "trading cryptocurrencies." According to data from the Bank of Korea (BOK), by November, the number of domestic cryptocurrency investors in South Korea had reached 15.59 million, an increase of 610,000 from the previous month. Currently, 30% of the 51 million South Koreans are involved in cryptocurrency trading. The daily average trading volume of the five major cryptocurrency exchanges in South Korea—UPbit, Bithumb, Coinone, Korbit, and GOPAX—has surged from 34 trillion won in October to 149 trillion won in November, more than quadrupling. South Koreans have traditionally been keen on investing in cryptocurrencies. During the first wave of the cryptocurrency bull market in 2017, about 5% of the population participated; in the second round of the bull market in 2021, 10% participated; and now this percentage has expanded to 30%. However, historically, the correlation between the Korean stock index and Bitcoin prices has been positive, until this positive correlation was completely broken in October of this year. (Wall Street Insight)
Golden Encyclopedia
▌What is the RLUSD stablecoin from Ripple Labs?
RLUSD is a stablecoin developed by Ripple Labs, the organization behind the XRP cryptocurrency. RLUSD, or Ripple Labs USD, aims to provide a stable digital currency for transactions and trading. As a stablecoin pegged to the dollar, 1 RLUSD equals 1 dollar. Each RLUSD maintains a 1:1 peg. These collateral assets are either dollar deposits or cash equivalents.
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 enhance risk awareness.
