Headlines
▌U.S. media: Trump meets with TikTok CEO Shou Zi Chew
According to CNN reporters, Trump met with TikTok CEO Shou Zi Chew at Mar-a-Lago at around 01:55 Beijing time today. Previously, TikTok requested the U.S. Supreme Court to temporarily block the law that mandates the forced sale or prohibition of the TikTok application.
▌ChatGPT search major update, adding real-time search and advanced voice features
OpenAI has launched a live stream sharing technology for the eighth day, making extensive updates to ChatGPT's search functionality. New features include real-time search, where OpenAI has deeply optimized the search algorithm to fetch real-time content (in minutes) after users pose questions, including stocks, news, etc.; advanced voice capabilities, where in advanced voice mode, users can engage in more natural multi-turn search conversations with ChatGPT, resembling a voice search assistant; mobile optimization, allowing users to better utilize search functions on mobile devices such as Android, iOS, and tablets, with efficiency improvements of over 40%. Map integration has also been added, where ChatGPT now integrates a new map feature, allowing users to view surrounding geographic information directly in search results, plan routes, and explore locations. This feature is expected to evolve towards a business model, possibly collaborating with restaurants and shopping malls.
Market Trends
As of the time of writing, according to Coingecko data:
The recent trading price of BTC is $106,020, with a daily fluctuation of +1.3%;
The recent trading price of ETH is $3,979.89, with a daily fluctuation of +0.4%;
The recent trading price of BNB is $718.62, with a daily fluctuation of -0.5%;
The recent trading price of SOL is $215.62, with a daily fluctuation of -0.9%;
The recent trading price of DOGE is 0.4006 yuan, with a daily fluctuation of -1.5%;
The recent trading price of XPR is $2.47, with a daily fluctuation of +0.6%.
Policy
▌NFT project CyberKongz claims to have received a Wells Notice from the SEC
NFT project CyberKongz announced on platform X that it has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC), which is a form of communication issued by SEC staff to inform companies that the agency may recommend enforcement action against them.
The team stated: 'The SEC's enforcement division has raised very concerning statements with us, indicating that if the token (ERC-20) is not registered as a security, it cannot be integrated with blockchain games. This kind of statement will have a significant impact on the entire web3 gaming industry, and we will oppose this stance in a broader context.'
▌TD Cowen analysts: Next year, Democrats may not hold senior positions in the SEC
TD Cowen analysts stated that next year the Democrats may not hold senior positions in the SEC, paving the way for the Republicans to formulate cryptocurrency-related rules.
The investment bank noted that the full Republican committee will help Atkins advance the rules more quickly, as there is no Democratic delay in this process. However, analysts indicated that there are risks in bipartisan cooperation, which could affect future cryptocurrency regulation. Analysts stated: 'If these rules are seen as a partisan struggle, the Democratic SEC is more likely to change them. In contrast, bipartisan rule-making may create a regulatory framework that can withstand electoral tests. We believe this will provide policy stability, which will benefit crypto trading platforms, token issuers, and the broader crypto industry.'
Blockchain Applications
▌EY Global Blockchain Leader: The blockchain industry will usher in an accelerated revolution and a brighter outlook in 2025
Paul Brody, global blockchain leader at EY, wrote that 2024 will be a breakthrough year for blockchain, transforming a process that was originally gradual in obtaining regulatory approvals, transitioning to public blockchains and legitimate digital assets, into a sprint. In terms of regulation, the U.S. is expected to accelerate significantly, potentially surpassing other regions in accepting and expanding digital assets.
Paul Brody's article stated: '2024 is an extraordinary year for blockchain. We are not changing direction, but we are starting to move forward at a faster pace. Looking ahead to 2025, the industry will usher in an accelerated revolution and a brighter outlook.'
▌Layer 1 blockchain Avalanche launches the Avalanche9000 upgrade
Layer 1 blockchain Avalanche announced on Monday the launch of the Avalanche9000 upgrade, which introduces many new features, including improvements that make launching 'subnet' blockchains easier and running smart contracts cheaper.
It is reported that Avalanche9000 is the largest upgrade for the network to date. This update includes improvement proposals ACP-77 (which changes the operation of validators) and ACP-125 (which reduces the basic fees of the Avalanche main 'C-chain' network).
The team wrote on X: 'This is the beginning of hundreds of Avalanche L1 launches. Avalanche9000 has reduced the cost of deploying L1 by 99.9%, and with hundreds of L1s being developed on the testnet, we expect an explosive growth in launches over the coming months.'
Cryptocurrency
▌Analyst: MicroStrategy is expected to be included in the S&P 500 by June 2025
MicroStrategy (MSTR) will officially join the Nasdaq 100 index on December 23, 2024, becoming the first Bitcoin company to be included in the index. Analysts expect this to bring about $2.1 billion in passive ETF buying, enhancing market liquidity. Although the company has not yet met the profitability standards for the S&P 500, it is expected to be included in the quarterly adjustment of the S&P 500 in June 2025 after the new accounting standards take effect in January 2025. The company currently holds 439,000 Bitcoins worth over $45 billion.
▌Ether.Fi proposed to allocate 5% of the protocol's revenue for the buyback of ETHFI and distribute it to stakers
According to a post on the decentralized finance (DeFi) protocol Ether.Fi community governance forum, Ether.Fi proposed to allocate 5% of the protocol's revenue to buy back ETHFI and distribute it as rewards to ETHFI stakers, aimed at 'enhancing the utility of ETHFI, strengthening its market, and aligning user incentives with the growth of the Ether.Fi ecosystem.'
The Ether.Fi team describes the allocation of 5% of revenues as a 'starting point' and notes that rewards are initially only provided to token holders who have staked ETHFI for at least one month. According to the post, this proposal will be decided by token holder voting before the end of this week. Ether.Fi has already used protocol revenue to buy back tokens from the main liquidity pool of ETHFI.
▌Monad announces the establishment of the Monad Foundation
Monad announced on Twitter the establishment of the Monad Foundation: 'We are very pleased to announce the establishment of the Monad Foundation, which is an important step in promoting the further decentralization of the Monad protocol and ecosystem. The mission of the foundation is to facilitate the growth and popularization of the Monad protocol, which is a decentralized, permissionless network with many independent global contributors.'
▌USDC Treasury mints 50 million USDC on Ethereum blockchain
According to Whale Alert monitoring, around 01:55 Beijing time today, USDC Treasury minted 50,000,000 USDC on the Ethereum blockchain.
▌Blast: Plans to announce updates on the mobile platform and token economics next month
Blast announced on platform X that after months of hard work, they are finally close to launch. They are currently making final adjustments to the Blast mobile platform, token economics updates, and other important announcements, all of which are set to be revealed next month.
Important Economic Dynamics
▌The probability of a 25 basis point rate cut by the Federal Reserve in December is 95.4%
According to CME's 'Fed Watch,' the probability of the Federal Reserve holding current interest rates steady until December is 4.6%, with a cumulative probability of a 25 basis point cut at 95.4%. The probability of maintaining current rates in January next year is 3.8%, with cumulative probabilities of a 25 basis point cut at 79.9% and a 50 basis point cut at 16.3%.
▌The three major U.S. stock indexes closed mixed
The three major U.S. stock indexes closed mixed, with the Nasdaq up 1.24%, reaching a new high; the S&P 500 rose 0.39%, while the Dow fell 0.25%. Most large tech stocks rose, with Tesla up over 6%, Google up over 3%, Intel and Amazon up over 2%, Apple up over 1%, and Netflix and Meta slightly up; Nvidia fell over 1%, briefly entering a correction zone. Among them, Tesla, Google, and Amazon all reached new highs.
Golden Encyclopedia
▌What is Rollup?
Rollup is a way to process transactions on Layer 2 protocols, freeing up valuable space on the base layer. Rollups fold transactions one by one on the second layer, sometimes folding them dozens of times, then rolling them together and sending the data back to Layer 1. There are mainly two types of Rollups: optimistic and zero-knowledge (ZK) proofs. Optimistic Rollup is a rather clear term. This means that the Rollup operates on an 'optimistic' approach, assuming transactions are valid unless validators prove them wrong. They only check the validity of transactions in case of disputes. ZK Rollup proves transactions without revealing any transaction data. Hence, it is called 'zero-knowledge'. ZK Rollup provides instant finality as cryptographic proofs ensure data validity. In many ways, Rollup to your standard blockchain transaction is like Calzone to regular pizza slices. By rolling up, you can fit in more.
Disclaimer: Golden Finance, as a blockchain information platform, publishes articles for informational reference only and does not constitute actual investment advice. Everyone is encouraged to establish a correct investment philosophy and to raise risk awareness.
