Headlines
▌Adam Back: MicroStrategy may have increased its BTC holdings.
Blockstream founder Adam Back posted on the X platform: 'I believe MicroStrategy has completed its Bitcoin purchase but must announce it to the market through an 8-K filing before or after normal trading hours.'
Previously, MicroStrategy founder Michael Saylor has released Bitcoin Tracker-related information for the ninth consecutive week.
▌Analysis: Aave and MakerDAO are performing brightly in 2024, with DeFi protocol revenue returning to 2021 highs driven by new platforms.
Various DeFi protocols generated substantial revenues in 2024, with many mature protocols' revenue figures nearing their 2021 highs, while newer platforms established themselves as key contributors. Pump.fun is the most notable highlight of the Solana ecosystem this year, generating $313 million in fees in 2024, with an average of $31 million per month and an average monthly growth rate of nearly 77%. Jito started with only $5 million in fees in January, growing at an average monthly rate of 79%, reaching a total of $603 million in fees by the end of the year.
Meanwhile, Ethena's fees grew from just $1.7 million in January 2024 to over $267 million by the end of the year. Notably, more than 54% of Ethena's annual revenue was generated in the last three months, during which this figure grew at an average monthly rate of 150%.
On the other hand, MakerDAO far exceeded its historical revenue figures of $12.8 million in May 2021 and $32.6 million in April 2024. At the time of writing, MakerDAO generated nearly $40 million in December, a 38% increase from the previous month. It also generated over $313 million in fees for the year, a 176% increase from 2023. Despite the revenue growth, MKR tokens fell 10% this year. For Aave, 2024 marks a recovery close to historical revenue peaks, with December income reaching $60.9 million, nearing its peak of $65.39 million in October 2021. For the year, Aave's total fee revenue was $389 million, averaging $32.4 million per month, with a steady monthly growth rate of 14%. This represents a 244% increase in annual revenue compared to 2023. In this context, Aave tokens soared over 200% this year.
Market
As of the time of writing, according to Coingecko data:
BTC's recent closing price is $98,454.21, with a daily fluctuation of +0.3%;
ETH's recent closing price is $3,638.54, with a daily fluctuation of -0.5%;
BNB's recent closing price is $710.09, with a daily fluctuation of -0.4%;
SOL's recent closing price is $213.76, with a daily fluctuation of -1.4%;
DOGE's recent closing price is 0.3819 yuan, with a daily fluctuation of -3.0%;
XPR's recent closing price is $2.40, with a daily fluctuation of -0.7%.
Policy
▌Senator Cynthia Lummis: Holding reserve Bitcoin can help keep the dollar strong.
U.S. crypto-friendly Senator Cynthia Lummis stated that holding reserve Bitcoin can help keep the dollar strong.
Blockchain applications
▌Social Capital CEO: Stablecoins will become a key tool for wholesale trading by 2025.
Social Capital CEO Chamath Palihapitiya predicts that the adoption of stablecoins will surge in 2025, becoming a key tool for wholesale trading. He noted that by 2024, stablecoin usage will decouple from cryptocurrency trading, exceeding 1.1 billion transactions with a settlement amount of $8.5 trillion, more than twice Visa's transaction volume.
Palihapitiya believes that this growth will challenge the duopoly of Visa and Mastercard, especially in light of rising credit card interest rates. He also discussed regulatory issues, emphasizing that blockchain technology provides transparency and traceability for transactions. Last year, he predicted that Bitcoin would achieve mainstream adoption in 2024.
Cryptocurrency
▌Canadian listed company Kontrol Technologies holds 25 BTC.
Canadian listed company Kontrol Technologies Corp. announced that it has added several city clients after completing multiple successful RFPs (Requests for Proposals). Kontrol won these opportunities by competing with larger organizations and will provide its sustainability solutions for several buildings in its portfolio.
Following the press release on November 8, 2024, the company accelerated its Bitcoin strategy on its balance sheet, currently holding approximately CAD 3 million in Bitcoin or Bitcoin-related tokens.
▌Ripple CEO: 75% of Ripple's vacant positions are now in the U.S.
Ripple CEO Brad Garlinghouse announced that currently 75% of job vacancies at Ripple Labs are in the United States, and after the November 2024 elections, the company is expected to secure more deals and partnerships in the U.S. than in the previous six months. Garlinghouse attributes these changes to the incoming Trump administration and Donald Trump's pro-cryptocurrency rhetoric.
▌10x Research: The year is expected to start strong, followed by a slight pullback before the CPI data release on January 15.
10x Research noted in its market analysis that while some initial enthusiasm is expected at the beginning of the new year, it is not yet time to experience the bullish sentiment similar to late January to March or late September to mid-December 2024. The year is expected to start well, followed by a slight pullback before the CPI data release on January 15. Favorable inflation data could reignite optimism, driving a rebound before Trump's inauguration on January 20. However, this momentum may weaken, and the market could pull back before the January 29 FOMC meeting.
From January to mid-November 2024, Bitcoin's dominance rose from 50% to 60%, posing significant resistance to altcoins' performance. Although the dominance metric briefly dipped to 53% within three weeks (fuelling hopes for an altcoin season), it quickly rebounded to nearly 58% and then stabilized around 55%. This consolidation highlights Bitcoin's persistent dominance as the main driver of the crypto market, while indicating that altcoins may face challenges unless Bitcoin's dominance metric declines again.
▌El Salvador currently holds 6,009.18 bitcoins.
According to The Bitcoin Office of El Salvador, the country currently owns 6,009.18 bitcoins, valued at over $591 million.
▌The TON network has currently staked down to 672.8 million TON, accounting for 26.50% of the circulating supply.
According to tonscan data, the TON network has currently staked down to 672.8 million TON, accounting for 26.50% of the circulating supply (2.539 billion). Additionally, the current staking APY is 5.5%, with a total of 386 validator nodes in the network.
▌In the past 24 hours, the entire network saw liquidations of $126 million, primarily long positions.
Coinglass data shows that in the past 24 hours, the entire network saw liquidations of $126 million, including $79.253 million from long positions and $46.834 million from short positions.
Important economic dynamics
▌The probability of the Federal Reserve keeping interest rates unchanged in January is 88.8%.
According to CME's 'FedWatch': The probability of the Federal Reserve keeping interest rates unchanged in January is 88.8%, with an 11.2% probability of a 25 basis point rate cut. By March, the probability of maintaining current rates is 53.3%, with a cumulative probability of 42.2% for a 25 basis point cut and 4.5% for a 50 basis point cut.
▌Nordea's strategist: U.S. monetary policy has entered a new phase where rate cuts depend on declining inflation or a weakening labor market.
Nordea's credit and interest rate strategist Lars Mouland: U.S. monetary policy has entered a new phase where rate cuts depend on declining inflation or a weakening labor market. Interest rates could ultimately be higher than market expectations.
Golden Encyclopedia
▌What is a compressed NFT?
CNFT is a newer type of non-fungible token that utilizes state compression technology to store data more efficiently on Solana. Unlike traditional NFTs that store all token metadata directly on-chain or through external links (like IPFS), cNFTs use Merkle trees to optimize data storage.
Disclaimer: Golden Finance, as a blockchain information platform, provides articles for informational reference only and does not constitute actual investment advice. Everyone is encouraged to establish correct investment concepts and to enhance risk awareness.
