2024.12.02. Daily Report——

1) The market trend shows BTC fluctuating at high levels. The BTC dominance rate has broken weekly resistance; it's the season for altcoins, with 2017 old coins and ETH-related tokens leading the rally. The best performers in this round of increase are the 2017 old coins and this year's new meme coins, both having the least supply pressure. The US stock market is rising, continuing to reach new highs.

2) Market hotspots:

1. Old coins like XRP, HBAR, ADA, ALGO, EOS, IOTA, etc., have risen, generally increasing 4-5 times this month. The US will cancel capital gains tax on coins issued by US companies, with the best gains being in the Coinbase 50 index. XRP’s market value has reached a new high, returning to the top three, and XRP will issue new stablecoins, while meme tokens on the XRPL chain have surged dozens of times.

2. ETH-related tokens like CVX, ZRO, USUAL, ENS, etc., have surged, with ETH-based NFTs increasing by 30%. ETH ETF inflows have exceeded BTC ETF inflows. USUAL stabilizes by adopting a Ponzi model similar to Luna; the larger the TVL, the lower the unit emission. ZRO has no selling pressure in the first half of 2025.

3. On-chain DeFi hype airdrop, single coins have surged 3 times. HYPE is an on-chain contract exchange with an order book model, deployed on the ARB chain, building its own chain, providing a similar trading experience to centralized exchanges, operated by a Chinese team. Compared to its main competitor DYDX, HYPE has launched more long-tail assets' dog coin contracts. HYPE's market value has reached $10 billion, nearing Uniswap. In the same sector, DYDX's market value is $1.2 billion.

4. The on-chain dog coin AI.FUN has surged 10 times in three days, reaching a market value of $40 million. AI.FUN is a competing product on the BASE chain for virtual assets and is also a launch platform for AI tokens. Last month, AI infrastructure led by Virtual outperformed AI meme coins, similar to how Layer 1 public chains performed better than DeFi applications due to higher certainty.