Author: Shen Chao TechFlow
Market dynamics yesterday
Latest data: 60 listed companies worldwide hold over 538,000 Bitcoins
On December 3, according to the latest statistics from HODL15Capital (as of December 2, 2024), a total of 60 listed companies globally hold Bitcoin on their balance sheets, with a total holding of 538,175 Bitcoins.
The top five holding companies are:
MicroStrategy (USA): 402,100 coins
Marathon Digital (USA): 34,794 coins
Galaxy Digital (Canada): 15,449 coins
Riot Platforms (USA): 10,928 coins
Tesla (USA): 9,720 coins
In terms of geographic distribution, U.S. companies dominate, with many listed companies in Canada, Japan, Germany, and other countries holding Bitcoin, and companies from Hong Kong, Japan, Singapore, Thailand, and other countries in Asia. In terms of industry characteristics, technology companies and digital asset companies are predominant, including several cryptocurrency mining companies.
The altcoin season index has broken its annual peak.
Coinmarketcap data shows that the altcoin season index has broken its annual peak, currently reported at 83.
It is reported that the CMC Cryptocurrency Altcoin Season Index is a real-time indicator used to determine whether the current cryptocurrency market is in an altcoin-dominated season. Data shows that in the past 90 days, 83 out of the top 100 cryptocurrencies by market capitalization have outperformed Bitcoin.
Sonic Labs' mainnet generated its first block, and the token airdrop snapshot has been completed.
According to The Block, the Layer 1 blockchain project Sonic Labs (formerly Fantom) announced that its mainnet has generated its first block, marking the completion of the 'Genesis' phase, and is expected to officially launch soon. A few days prior, the project also launched the upgraded testnet 'Blaze'.
The team previously announced that they expect to launch the mainnet by the end of November or the beginning of December. Sonic Labs has completed the snapshot for the S token airdrop allocation, supporting a 1:1 exchange with Fantom's FTM token and introducing Sonic Gateway to enable cross-chain bridging functionality.
Vitalik: Wanxiang may have saved Ethereum, and he may never be able to return to Russia.
On December 3, Ethereum co-founder Vitalik Buterin stated in an interview with Wu said Blockchain that after the launch of the Ethereum main chain in 2015, the foundation was nearly out of funds. Wanxiang purchased 410,000 Ether at $1.2 each, totaling a $500,000 investment to support the foundation's development, which may have 'saved the foundation's life'.
Additionally, Vitalik believes that the concept of larger blocks is more correct, but the lack of execution capability is the main reason for its failure. He pointed out that the Bitcoin community is currently too focused on price, and the prospects for technological development are not optimistic.
Regarding the Russia-Ukraine war, Vitalik stated that this conflict has completely changed him. After publicly supporting Ukraine, he realized he might never be able to return to Russia and could even face a 10-15 year prison sentence.
Regarding Ethereum's positioning, Vitalik prefers the concept of a 'world computer', believing it is not just a chain, but an ecosystem that supports various applications.
AAVE USDC deposit rate reached 40%, USDT deposit rate reached 28%.
On December 3, according to official data, the USDC deposit rate for the lending protocol AAVE reached 40%, while the USDT deposit rate reached 28%.
Nike's NFT entity RTFKT announced plans to gradually shut down operations.
Nike's NFT entity RTFKT announced on the X platform that it will gradually shut down operations, with its Web3 services expected to end by the end of January 2025. RTFKT plans to launch a new website showcasing the groundbreaking work that defines the RTFKT journey, while before the transition, RTFKT will launch another innovation this December featuring BLADE DROP as part of MNLTHX.
Magic Eden co-founder: ME token airdrop eligibility and allocation queries will open on December 4.
Magic Eden co-founder and CEO Jack Lu stated on social media that ME token airdrop eligibility and allocation queries will open on December 4. The ME token will launch on December 10.
Coinbase has listed the meme coin MOODENG on the Solana chain on its asset listing roadmap.
According to official news, Coinbase has listed the meme coin Moo Deng (MOODENG) on the Solana chain on its asset listing roadmap.
WisdomTree has submitted an XRP ETF S-1 application document to the SEC.
According to an S-1 document submitted to the U.S. Securities and Exchange Commission (SEC), WisdomTree has submitted an application for the WisdomTree XRP Fund, which is an exchange-traded fund (ETF) that issues beneficial rights common stock and will be listed on the Cboe BZX Exchange, Inc. under the ticker 'TICKER'. The trust's investment objective is to gain exposure to the price of XRP, minus the operating costs and liabilities of the trust. The Bank of New York Mellon ('BNYM') serves as the trustee, fund accountant, and transfer agent for the trust.
Bernstein: ETH ETF fund inflows surpass BTC, staking yields may become a new growth engine.
According to a report from CoinDesk, brokerage Bernstein stated in a research report on Monday that Ethereum (ETH) has underperformed Bitcoin (BTC) this year, but the reversal in fund inflows into Ethereum ETFs indicates that this period of stagnation may be over. The report noted that last Friday, BlackRock's Ethereum spot ETF saw inflows of $250 million, while on the same day, its larger Bitcoin spot ETF only saw inflows of $137 million, creating a favorable supply-demand dynamic for ETH.
Bernstein stated that staking yields may be another driving force for Ethereum. Due to regulatory restrictions, the initial Ethereum spot ETF application did not include yields.
DeBox: Confirmed that the private key of the operational account EOA wallet has leaked, and will repurchase all lost tokens.
The social platform DeBox officially released a security incident report, confirming that the private key of the EOA address used for repurchasing and deploying liquidity has leaked, resulting in the theft of 31 ETH and 4.87 million BOX tokens. This incident only involved the operational account and does not affect the security of platform user assets.
The DeBox team has developed a response plan: within a week, they will use the stable fund to repurchase all stolen tokens from exchanges and inject them into the BOX DAO asset pool; once the app supports multi-signature functionality, they will upgrade the operational account to a multi-signature wallet; they will commission a professional security company to conduct investigations and asset tracking. The team is currently continuously tracking the involved addresses and reserves the right to take legal action. The subsequent handling of all recovered assets will be decided through DAO voting.
Market dynamics
Recommended reading
Holding 380,000 Bitcoins, penetrating MicroStrategy's 'pump magic'.
MicroStrategy is raising funds through borrowing and issuing stock for continued large-scale purchases of Bitcoin, creating a 'spiral pump' business model. This strategy, which relies on the price increase of Bitcoin for huge profits, also carries potential risks and requires close monitoring of the movements of ancient Bitcoin whales.
Decrypting aixbt: Behind the 83% win rate, which coins are the most profitable?
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XRP Soars: Why Zero Venture Capital, No Smart Contracts, and Low User Numbers Created an $180 Billion Valuation?
XRP's success challenges the traditional views in the cryptocurrency space regarding 'relying on venture capital' and 'needing a large user base'. The relatively stable cash flow, focused single function, review mechanism, and protection from the US government are key elements supporting its value.
The overlooked gem of Solana's summer: Is Metaplex, which quietly profited during the meme craze, undervalued?
Metaplex is a foundational protocol serving all asset classes in the Solana ecosystem and is a direct beneficiary of the meme craze that has continued since the beginning of the year. Metaplex's current core business is providing asset-related services, including issuance and management of NFTs and fungible tokens (FT), with strong growth in its business data. The founding team of Metaplex has a solid background, successful project financing, and a high valuation level, providing a strong business moat. If more active tracks emerge in the Solana ecosystem in the future, Metaplex will further benefit.
DeSci's crossroads: Return to value, or chase memes?
This article explores the development direction of decentralized science (DeSci) and analyzes the business models and features of two DeSci projects, Bio Protocol and Pump.Science. The article points out that neither of these projects has fully committed to scientific research; rather, they are also providing the market with memecoins. DeSci needs to return to fundamentals and objective laws, but it also needs to hype valuations in a VC coin manner to enhance leading value expectations. The article argues that the consensus on DeSci has just begun and requires long-term construction, and one should be prepared for this narrative to explode in the next bull market.
