Daily market update (December 2, 2024, 09:45 AM)
ChainDD on December 2nd shows the comprehensive DD index and CoinMarketCap quotes:
BTC reported at $97,666.66, up about 1.25% in 24 hours;
ETH reported at $3,723.98, up about 0.21%;
BNB reported at $664.71, up about 1.39%;
DOT reported at $9.42, up about 5.84% in 24 hours;
DOGE reported at $0.4496, up about 4.54% in 24 hours.
Chain Circle Dynamics
Ethereum Foundation researcher: Ethereum L1 will gradually improve in the future, with significant performance improvements for L2 in the coming months.
Ethereum Foundation researcher Justin Drake posted on platform X that today marks four years since the birth of the Ethereum Beacon Chain, with only 500,000 ETH staked in the initial phase. Although it did not bring direct benefits to users at first, it gradually grew to become one of the most powerful foundations in blockchain history.
Looking ahead, Drake believes Ethereum has the opportunity to become the settlement layer of the value internet. Although the Beacon Chain is still not perfect, the upgrade path in the coming years will remain challenging, including improvements to review systems and MEV handling, reducing staking deposits, increasing finalization speed, smart issuance, achieving smartwatch-level full-chain verification, and post-quantum security. Meanwhile, outside the consensus layer, he hopes to achieve complete sharding at the data layer and native Rollup at the execution layer.
Cryptocurrency Circle Dynamics
Sun Yuchen denies that the banana auction event is suspected of money laundering: Sotheby's anti-money laundering measures are very strict, and investment activities are transparent and compliant.
TRON blockchain founder Sun Yuchen held a media conference for the 'Most Expensive Banana' (Comedian) in Hong Kong and publicly ate a banana. In response to previous doubts about the auction of the banana event being malicious hype and suspected money laundering, Sun Yuchen denied it and stated: 'Regarding the so-called money laundering allegations, I want to say that this is impossible. The world's most famous auction house, Sotheby's, has very strict anti-money laundering measures, and every transaction undergoes rigorous scrutiny. All my investment activities are transparent and compliant.'
Fidelity raised the valuation of X Holdings stock by 32% in October.
Fidelity increased the valuation of X Holdings stock by 32.37% in October, the largest monthly adjustment since the company supported Elon Musk's acquisition in 2022. However, this valuation is still nearly 72% lower than Musk's initial acquisition price of $44 billion.
xAI is also connected to X Holdings through equity. Fidelity participated in xAI's $6 billion Series B funding. In October, it increased the value of these stocks by about 70%, which may have affected its valuation method for X Holdings.
Bitwise CEO: Participants should change their zero-sum thinking in a bull market and instead 'expand the cake'.
Bitwise CEO Hunter Horsley posted on X that 'it is time to cultivate an abundance mindset in the cryptocurrency sector. The bear market has fostered zero-sum thinking, where one party profits by taking shares from others while the pie shrinks. However, as of November this year, the total market cap of cryptocurrency has surpassed the previous high of $3 trillion in November 2021.'
The market is entering a period where the cake is getting bigger, and it's time to change our mindset. The winning mindset in this phase is to encourage maximizing the expansion of the cake, increasing the number of participants, treating on-site participants well, and supporting teams to maximize their potential and strengths. If all of this happens, you will do very well. I am excited about restoring growth and a sense of abundance.
Solana co-founder: We need a national XRP reserve.
Solana co-founder Toly posted on X stating: 'We need a national XRP reserve.'
Cathie Wood: Looking forward to an era of regulatory easing for cryptocurrency and digital assets after Trump takes office.
Ark Investment Management LLC founder and CEO Cathie Wood stated that she welcomes the era of regulatory easing after Trump takes office, especially in technology, cryptocurrency, and digital assets.
'The U.S. has almost lost its footing in the cryptocurrency sector,' Wood stated, citing 'excessive regulation' and concerns from outgoing SEC Chairman Gary Gensler about the industry.
Wood stated on a program last Sunday that cryptocurrency and artificial intelligence are among the technology platforms that the U.S. must 'seize and navigate' in order to 'lead the trend, just as we did in the internet sector. Changes in the regulatory framework focusing on cryptocurrency and artificial intelligence will be very significant.'
She also mentioned robotics, energy storage, and multi-omics sequencing. When asked about Trump's threat to impose tariffs on U.S. trading partners, Wood stated that it 'makes some sense' if it can be offset through tax cuts.
She said that under Trump's second administration, the stock market began to expect more diversified earnings, 'over the past four years, we have seen a lot of money concentrated in a few stocks, and I believe the market will now expand and reward those companies at the forefront of innovation,' which will benefit small and medium-sized enterprises.
