1) Market Trends

BTC plummeted, altcoins fell sharply, losing the gains from December.

US stocks are volatile. The current money market expects a 38 basis point rate cut next year, which implies a 50% chance of a second 25 basis point rate cut by the Federal Reserve next year.

2) Market Highlights:

1. Platform tokens BGB and FTT surged. BGB merged with wallet BWB, entering the top 20 by market capitalization. Compensation from FTX will be in January. However, historically, when platform tokens pump, there is a high likelihood of a subsequent market crash.

2. New BN tokens rebounded, including ME, VANA, THE, VELO, MOVE, PENGUIN, etc. Before a new launchpool comes out, there is usually a pump for the previous new tokens to warm up the market.

3. On-chain meme token MIRA surged, receiving endorsements from BIO and AI16Z, akin to China's version of crowdfunding for medical expenses, with a donor who is an entrepreneur. ETH chain's hippo token surged, and the Thai hippo was adopted by Vitalik Buterin. The meme token WOULD surged 100 times in the past two months, previously mentioned by Elon Musk.