Today's news highlights:
The address ranked 30th on the Bitcoin rich list transferred out 11,999 BTC, approximately $1.19 billion.
BGB has surpassed $6.2, setting a new historical high.
A HyperLiquid whale's multiple open positions are facing a significant unrealized loss of about $12 million.
Pantera Capital CEO predicts that the Bitcoin bull market cycle will peak in August 2025.
Vitalik adopted the Thai internet celebrity hippo Moo Deng and donated approximately $290,000 to the zoo where she resides.
BonkDAO plans to burn 16.9 trillion BONK, worth approximately $54.52 million.
PENGU's market capitalization has exceeded $2.6 billion, making it the number one meme coin by market cap on the Solana chain.
Animoca Brands: No official tokens or NFTs have been issued.
Regulation / Macro
The Japanese government has responded to questions regarding Bitcoin reserves, indicating a cautious stance.
According to Coinpost, the Japanese government has recently responded to inquiries from Senator Hamada Satoshi regarding understanding the dynamics of Bitcoin reserves promoted by the US and other countries. The response was issued in the name of Prime Minister Ishiba Shigeru, clarifying the government's stance on treating crypto assets as reserves. The Japanese government stated that it currently does not understand the Bitcoin reserve plans of these countries, as they are still under discussion, making it difficult for the government to take a stance. Additionally, according to the legal framework, crypto assets do not fall under the category of foreign exchange, and foreign exchange reserves are aimed at stabilizing foreign currency assets and bond markets. The response emphasized several times that the primary goal of foreign exchange reserve management is to ensure safety and liquidity, indicating an awareness that the volatility of crypto assets (such as Bitcoin) is inconsistent with the current system. Ishiba's response shows that as discussions progress regarding the inclusion of crypto assets in national reserve strategies, the Japanese government remains cautious.
US SEC Commissioner: The SEC's stance on the cryptocurrency industry will undergo a significant shift next year, with a reduction in enforcement actions.
According to Blockworks, starting next year, the U.S. Securities and Exchange Commission (SEC) will temporarily reduce the size of its commissioner team while awaiting Senate approval of President Donald Trump's nomination. During this period, only Republican commissioners Hester Peirce and Mark Uyeda will continue to serve after taking office. Peirce stated that with the departure of SEC Chairman Gary Gensler, the agency's stance on the cryptocurrency industry will change significantly. At the Blockchain Association Policy Summit held earlier this month, Peirce noted, 'We have powerful tools and have always leaned toward using enforcement measures. I think as you see changes in the new commission members and composition, the types of cases may also change accordingly.' Uyeda highlighted that due to the nature of federal agencies, most policy discussions occur behind closed doors, explaining, 'The (Administrative Procedure Act) allows the public to comment on regulations to ensure transparency.' However, the public has not had the opportunity to comment when guidelines issued by SEC staff contradict SEC rules (such as the SAB 121 case). In the SAB 121 case, both houses of Congress attempted to overturn the requirement for digital asset custodians to report liabilities and 'corresponding assets,' but President Biden ultimately vetoed this resolution. Uyeda hopes the SEC can increase opportunities for public comment. Peirce emphasized that the SEC has come a long way on this path, and changing it will not be easy. She directly told the cryptocurrency industry, 'It will take significant hard work from us and you to get back on track, but I believe we can do it.'
Multiple cryptocurrency trading companies have reported a rapid increase in OTC trading volumes in recent months.
According to The Block, several cryptocurrency trading companies have recently reported a rapid increase in OTC trading volumes in the past few months, with election results being a major driving force. Tim Ogilvie, head of institutional business at Kraken exchange, stated, 'OTC trading is currently exceptionally active, with volumes surging alongside price increases.' He revealed that Kraken's OTC trading volume has increased by 220% year-on-year, with other trading firms reporting similar growth. Jake Ostrovskis, an OTC trader at market maker Wintermute, noted that the market was relatively calm mid-year, but as elections approached and prices rose, market participants began actively preparing for election outcomes. He stated that Wintermute's discussions with some clients have continued for several years, and election results have become the catalyst for them to initiate trades. Similarly, GSR trader Embert Lin indicated that since the elections, the company's trading volume has significantly increased. With the rising prices of Bitcoin, Ethereum, and altcoins, projects and investors have shown a marked increase in managing funds and risks at these price levels, while also seeking new opportunities to engage with crypto assets beyond BTC and ETH. An OTC trader from a trading firm privately disclosed that recent trading volumes have easily reached levels seen during the peak excitement of the cryptocurrency market in 2021. Additionally, Brett Reeves, head of Go Network at cryptocurrency custodian BitGo, pointed out that the election results have been the main driving factor for the recent surge in trading volume, with two-thirds of the trading volume generated within three months following the announcement of the election results.
Hashgraph Group obtained a fund management license in Abu Dhabi and will launch a $100 million Web3 fund.
According to Bitcoin.com, Switzerland-based Hashgraph Group has obtained a fund management license from the Abu Dhabi Global Market (ADGM). The license obtained by Hashgraph Group's Hashgraph Ventures Manager allows it to launch a $100 million Web3 venture capital fund from the Abu Dhabi Global Market (ADGM). Hashgraph Group will contribute $20 million, or 20% of the fund, as seed capital. The fund will focus on investing in startups and established companies within the Hedera ecosystem. Hashgraph Group co-founder and CEO Stefan Deiss stated that the fund has received broad support and attention from co-investors, including government agencies, sovereign wealth funds, venture capital funds, family offices, and other qualified investors; the group will focus on investing in companies utilizing the Hedera network and promoting collaboration between Web3 companies. The fund will prioritize strategic investments in Web3 and deep tech sectors (developing artificial intelligence (AI), blockchain, robotics, and quantum computing solutions). Eligible projects will have the opportunity to participate in the Hashgraph Association's startup incubator program.
Project Updates
Vitalik adopted the Thai internet celebrity hippo Moo Deng and donated approximately $290,000 to the zoo where she resides.
The administrator of Moo Deng at Thailand's Khao Kheow Zoo stated on X platform: 'Thank you to Ethereum co-founder Vitalik Buterin for joining the wildlife sponsorship program and for the generous gift of 10 million Thai Baht (approximately $290,000) to support Moo Deng's family. We look forward to working with you over the next two years to bring benefits to the Khao Kheow Zoo community and all visitors.' According to a letter shared that Vitalik wrote: 'I am pleased to accept your invitation to become a foster parent to Moo Deng during her growth process and to donate no less than 10 million Thai Baht in her name to the zoo. The funds will be donated in two installments of 5,000,000 Baht each. The first installment will take place on December 26, 2024, and the date for the second installment, as well as any additional amounts, will be notified later but no later than one year after December 26, 2024.'
PENGU's market capitalization has exceeded $2.6 billion, making it the number one meme coin by market cap on the Solana chain.
Coingecko data shows that PENGU's market capitalization has surpassed $2.6 billion (currently approximately $2.625 billion), surpassing BONK (approximately $2.443 billion) to become the top meme coin on the Solana blockchain.
BonkDAO plans to burn 16.9 trillion BONK, worth approximately $54.52 million.
According to official news, BonkDAO plans to burn 16.9 trillion BONK, worth approximately $54.52 million, as part of the community holiday event 'BURNmas', aimed at increasing the scarcity of BONK. The upcoming burn accounts for nearly 1.8% of the total supply of BONK (approximately 92.7 trillion). The official stated that the subsequent burning of these tokens will be voted on through BonkDAO's multi-signature.
The first presale project of aiPool has 10% of addresses that have not received METAV, suspected to have completed reception about eight hours ago.
According to on-chain analyst @ai_9684xtpa's monitoring, the first public presale project of AI-Pool has 10% of addresses that have not received METAV, seemingly completing reception about eight hours ago. A total of 71 addresses contributed over 10 SOL during this presale, donating a total of 958 SOL (approximately $190,000), with the top three accounts accounting for 82% of excess funds. The top contribution address HRu6k...eoFCw received tokens eight hours ago and has already sold 109,600 tokens at $0.03218, incurring a total loss of 556 SOL.
Animoca Brands: No official tokens or NFTs have been issued.
Animoca Brands stated on the X platform: 'The X account of co-founder and executive chairman Yat Siu was hacked, and Animoca Brands has not issued any official tokens or NFTs. A post claiming that tokens were issued on Solana was made by the hacker. Please do not interact with that account and stay vigilant. We will provide updates once the account is restored.'
Pump Science: Token economics design has been completed, and a BIO airdrop event will take place.
Pump Science announced on the X platform that the token economics design has been completed and that a BIO airdrop event will take place. Regarding the token economics design: of the future issued token supply, 5% will be allocated to holders of the previous tokens (at the time of migration); those currently holding more PS tokens (RIF, URO) will receive new tokens in the future; this mechanism will continue as long as there is new issuance (forever). Regarding the BIO airdrop event, BIO Protocol will airdrop BIO to holders of URO and RIF, pending governance approval to link BIO to Solana, with more airdrops under consideration. Additionally, Pump Science reminded that only tokens in non-custodial wallets will be counted for the airdrop. According to the simplified white paper of Pump Science's token economics, its key elements are as follows: ① Custom binding curve: Each token issuance starts with a custom binding curve, using the same parameters as those used on pump.fun. The binding curve ensures that the token starts with an initial market value of about $5000. As liquidity increases, the price rises along the binding curve, and when liquidity reaches 85 SOL, it will migrate to an automated market maker, Meteora. ② Liquidity migration: Upon reaching 85 SOL liquidity: 82 SOL will migrate to Meteora's constant product liquidity pool (LP); 3 SOL will be allocated to the first research experiment to ensure immediate funding impact. ③ Anti-bot measures: To prevent bots from seizing early token supply without relying on whitelists or secondary token purchases, the trading fee on the binding curve is set very high at the beginning. These fees will decrease over time, providing users with a fair opportunity to compete with bots and acquire tokens at reasonable prices. ④ Token issuance: A total of 800 million tokens will be issued along the binding curve; 150 million tokens and 82 SOL will be transferred to the liquidity pool at migration; approximately 50 million tokens will be proportionally airdropped to holders of previously issued pump.science tokens (URO, RIF, etc.), with the airdrop allocation based on each wallet's time-weighted average value held during the specified period. ⑤ Airdrop mechanism: Holders of previously issued pump.science tokens will receive airdrops of future token issuances. The relative value of each wallet's holdings determines the allocation, incentivizing long-term participation in token issuance to obtain future airdrop allocations. ⑥ Funding research through liquidity pool fees: Research funding comes from trading activity-generated liquidity pool fees; the migrated liquidity is locked in the Meteora pool, but liquidity pool tokens will not be destroyed; the rights to claim liquidity pool tokens are granted to pump.science, allowing the platform to use liquidity pool fees to fund research.
Opinion
Pantera Capital CEO predicts that the Bitcoin bull market cycle will peak in August 2025.
According to Cryptodnes, Pantera Capital CEO Dan Morehead predicts that the next bull market cycle for cryptocurrencies will peak in 2025. In the Bankless podcast, he elaborated on the basis for this prediction: Bitcoin follows a four-year halving cycle, and miners' reward halving leads to a reduction in supply. Historically, Bitcoin's price has risen significantly around these events. The last halving occurred in April 2024, and Morehead predicts that Bitcoin will reach its cycle peak in August 2025 based on historical trends. He emphasized that although current market conditions are relatively mild, the upcoming upward trend remains promising. Morehead stated, '2025 looks very optimistic, not only because of the halving event but also due to political and macroeconomic factors aligning with the development of cryptocurrencies.' He predicts that Bitcoin's price at the peak will be $117,000, which is 18% higher than the current price. He further noted that historical data shows the effects of halving events typically start to manifest about 400 days prior, with peaks occurring approximately 480 days later. Looking back at 2022, when Bitcoin traded at $17,000, Pantera Capital accurately predicted it would reach $28,000 before the halving event. Now, Morehead is confident in his prediction of Bitcoin reaching $117,000 by August 2025.
Important Data
Two hours ago, the address ranked 30th on the Bitcoin rich list transferred out 11,999 BTC, approximately $1.19 billion.
According to iChainfo monitoring, two hours ago, the address ranked 30th on the Bitcoin rich list (starting with 3DR2iG) transferred out 11,999 BTC (approximately $1.19 billion), and currently, the address still holds 15,357 BTC (approximately $1.51 billion).
An address that purchased GAME and CONVO for $8,600 two months ago is now worth over $29 million.
According to Lokonchain monitoring, over two months ago, an address spent $8,600 to purchase GAME and CONVO, transferred them to a new wallet, and forgot about it after setting it up. Now, these GAME and CONVO are worth over $29 million.
BGB has surpassed $6.2, setting a new historical high.
According to Bitget market data, BGB has surpassed $6.2, rising 24.53% in 24 hours, setting a new historical high.
Binance's Bitcoin reserves have fallen below 570,000 BTC, the lowest level since January.
According to Cointelegraph, CryptoQuant contributor Darkfost pointed out in an analysis report dated December 25 that Binance's Bitcoin price recently fell to $98,990, and reserves have dropped below 570,000 BTC, the lowest level since January this year. This change typically indicates that investors are actively transferring Bitcoin to cold wallets, reflecting an optimistic view of the long-term price outlook. Looking back to the beginning of this year, Binance's Bitcoin reserves also dropped to a similar level in January, and subsequently, Bitcoin's price soared to an all-time high of $73,679 on March 13 within the next two months. Darkfost emphasized: 'The emergence of withdrawal surges is often a signal that market momentum is forming.'
A HyperLiquid whale's multiple open positions are facing a significant unrealized loss of about $12 million.
According to OnchainLens monitoring, a HyperLiquid whale's multiple open positions are facing a significant unrealized loss of about $12 million. Here are some details of the largest losses: ① XRP: -4.45 million; ② SUI: -3.86 million; ③ SOL: -892,000 (long positions); ④ ENA: -785,000; ⑤ CRV: -675,000; ⑥ ADA: -644,000; ⑦ DGE: -537,000. This whale mainly opened short positions rather than long ones, and although some are profitable, those profits are not enough to offset the losses.
Huang Licheng transferred 250,000 CREAM to Binance three hours ago, approximately $4.05 million.
According to on-chain analyst Yu Jin's monitoring, Taiwanese singer Huang Licheng (Machi Big Brother) transferred 250,000 CREAM (approximately $4.05 million) to Binance three hours ago. Three months ago, after redeeming 498,000 CREAM from staking, Huang has since transferred 349,000 CREAM (about $5.8 million) into Binance, which is 12% of the total supply of CREAM (2.92 million).
A giant Ethereum ICO whale deposited 4,160 ETH (approximately $14.5 million) into Kraken three hours ago.
According to Spot On Chain monitoring, three hours ago, a giant Ethereum ICO whale deposited 4,160 ETH (approximately $14.5 million) into Kraken. Notably, this whale acquired 20,000 ETH in the genesis block in July 2015 (then worth $62,000) and has staked it for rewards while often selling at peak times. The whale still has approximately 7,043 ETH staked (about $2.46 million).
In November, both BTC and SOL monthly trading volumes reached new highs, while ETH's monthly trading volume decreased by about 50% compared to its peak in 2021.
Token Terminal data shows that the monthly trading volumes of BTC and SOL reached new historical highs, while ETH is still down about 50% compared to its peak in 2021. In November 2024, the trading volumes for BTC, ETH, and SOL were $2.2 trillion, $1.1 trillion, and $243 billion respectively.
Runes' trading share on the Bitcoin network has dropped to a new low, accounting for only 1.67% of daily trading volume.
According to The Block, Runes' trading share on the Bitcoin network has dropped to a new low, accounting for only 1.67% of daily trading volume, a stark contrast to the dominance it held from April to November, when Runes typically accounted for over 50% of Bitcoin's daily trading volume. Meanwhile, Runes' daily trading fees have remained below $250,000, indicating a significant reduction in network activity. This change aligns with broader market dynamics and shifts in investor interest. As Bitcoin's price fluctuates, attention is shifting away from high-risk experimental protocols based on Bitcoin, such as Runes and Ordinals. At the same time, other cryptocurrency sectors like AI agents, meme coins, and Ethereum NFTs are gradually capturing market share, potentially leading to decreased investor interest in Bitcoin-based token protocols. Data suggests that the Runes ecosystem may be undergoing a cooling period. Its market share has sharply declined from over 50% to below 10%, marking a significant shift in Bitcoin network usage patterns. This trend may reflect a shift in market speculation interest, with investors turning their focus to other cryptocurrency sectors.
Bitcoin accumulation addresses increased their holdings by 225,280 BTC in December, facing significant selling pressure.
According to Cryptoslate, data from CryptoQuant shows that demand for Bitcoin accumulation addresses significantly increased in December. As of December 23, these investors net added 225,280 BTC, a monthly increase of 82.6%. Meanwhile, total seller liquidity (the amount of Bitcoin available for sale) in exchanges and ETFs decreased by about 590,000 BTC. Notably, this alleviation of selling pressure closely correlates with a sharp decrease of 520,000 BTC in the amount of Bitcoin prepared for sale between December 22 and 23. The report also noted that the supply of Bitcoin at OTC desks handling large transactions had dropped from 421,000 BTC to 403,000 BTC, indicating that investor demand is effectively absorbing selling pressure. Additionally, the liquidity inventory ratio has decreased from 12 months in December to 5.5 months, further proving that the current supply is meeting investor demand at an accelerated pace. CryptoQuant data also revealed that as of December 23, 'whale' addresses holding over 1,000 BTC sold nearly 8,600 BTC this month. However, this supply pressure was absorbed by new investors, with the number of short-term holders increasing by 3% over the past week. Over the past year, short-term holders have accumulated 641,789 BTC, with a total holding of 3.81 million BTC, only 70,000 BTC below the historical high of December 15. Despite Bitcoin's 14.2% pullback since hitting a historic high of $108,000 on December 17, it still aligns with analysts' predictions that after a cooling down, it will continue to rise. However, CryptoQuant community analyst Onatt warns investors to remain cautious, as the supply of USDT in exchanges is decreasing while Bitcoin's supply is slightly increasing. This trend may not signal a long-term bearish phase, but it does suggest further downside risk in the coming days.
