Key points:
● The total market capitalization of global cryptocurrencies is $3.63 trillion, an increase from $3.4 billion last week, with a growth rate of 6.8% this week.
● This week's total DeFi TVL is $126.2 billion, an increase of 1.39% compared to last week. By public chain classification, the top three public chains with the highest TVL are Ethereum chain accounting for 57%; Solana chain accounting for 7%; Tron chain accounting for 6%.
● The total market capitalization of stablecoins is currently reported at $193.1 billion, setting a new historical high, with a growth of 1.2% over the past week. Among them, the market capitalization of USDT is $128.8 billion, accounting for 69.7% of the total stablecoin market capitalization; followed by USDC with a market capitalization of $39.9 billion, accounting for 20.7%.
● From on-chain data, in daily trading volume, SOL remains in the lead, but compared to last week's $4.497 billion, this week's overall daily trading volume of SOL has dropped by 37%. In terms of daily active addresses, the active addresses on SOL/BNB/SUI chains have generally shown a downward trend this week compared to last week, with the SUI chain experiencing the most significant decline, dropping nearly 70%. From the total locked value (TVL) and circulating market value perspective, ETH remains the absolute leader in the DeFi space, with a DeFi TVL of $72.1 billion and a circulating market value of $447 billion, far exceeding other public chains.
● Innovative project focus: Agentstarter: Virtuals Protocol AI Agent Launchpad; Polytrader: AI-driven Polymarket companion, built on Base and SOL chains. Leveraging AI, it enables social media analysis, database analysis, Polymarket predictions, and search engine models; AgentLayer: decentralized AI Agent public chain, supporting Agent economy and AI asset trading on L2 blockchains. AgentLayer will soon launch a brand new market prediction product Orbs, which will open interaction in the form of a Telegram bot, allowing users to directly participate in predictions on Telegram.
I. Market Overview
1. Total cryptocurrency market capitalization / Bitcoin market capitalization share
The total market capitalization of global cryptocurrencies is $3.63 trillion, an increase from $3.4 billion last week, with a growth rate of 6.8% this week.
Data source: cryptorank
As of today, the market capitalization of Bitcoin (BTC) is $1.92 trillion, accounting for 53.03%. Meanwhile, the market capitalization of stablecoins is $193.1 billion, accounting for 5.44% of the total cryptocurrency market capitalization.
Data source: coingecko
2. Fear index and ETF inflow and outflow data
The cryptocurrency fear index is at 80, indicating greed.
Data source: coinglass
3. ETF inflow and outflow data
As of December 2, 2024, the cumulative net inflow of Bitcoin spot ETFs in the US is approximately $30.7 billion, and the net inflow of Ethereum spot ETFs in the US is approximately $573 million. Among them, on November 30, according to Farside Investors data, the net inflow of Ethereum spot ETFs in the US reached $332 million, marking the first time it exceeded Bitcoin spot ETFs.
Data source: CoinW Research Institute, sosovalue
4. ETH/BTC and ETH/USD exchange rate
ETHUSD: Currently at $3,703, with a historical high of $4,878.
ETHBTC: Currently at 0.037965, with a historical high of 0.1238, down approximately 69.3%
Data source: ratiogang
5. Decentralized Finance (DeFi)
According to DeFiLlama data, this week's total DeFi TVL is $126.2 billion, an increase of 1.39% compared to last week.
Data source: defillama
By public chain classification, the top three public chains with the highest TVL are Ethereum chain accounting for 57%; Solana chain accounting for 7%; Tron chain accounting for 6%.
Data source: CoinW Research Institute, defillama
Data as of December 2, 2024
6. On-chain data
Mainly analyzing the relevant data of the major public chains ETH, SOL, BNB, TON, SUI, and APT from the perspectives of daily trading volume, daily active addresses, transaction fees, and total locked value (TVL).
● Daily trading volume and transaction fees: Daily trading volume and transaction fees are core indicators of public chain activity and user experience. In daily trading volume, SOL remains in the lead, but compared to last week's $4.497 billion volume, this week's overall daily trading volume of SOL has dropped by 37%. This also reflects that the popularity of Meme coins has declined from the peak PVP period. In transaction fees, SOL has a significant advantage in GAS compared to the ETH chain.
● Daily active addresses: Daily active addresses reflect the ecological participation and user stickiness of the public chain. From the perspective of daily active addresses, the active addresses on SOL/BNB/SUI chains have generally shown a downward trend this week compared to last week. Among them, the decline in SUI chain is the most significant, dropping nearly 70% from last week's 1,579,833, reflecting that Meme players on the SUI chain are gradually exiting, and SUI needs a new narrative to drive further growth.
● Total locked value (TVL) and circulating market value: Reflects the maturity of DeFi and the level of trust users have in the platform. From the TVL perspective, ETH remains the absolute leader in the DeFi space, with a DeFi TVL of $72.1 billion and a circulating market value of $447 billion, far exceeding other public chains.
7. Stablecoin market value and issuance situation
According to Coinglass data, the total market capitalization of stablecoins is currently reported at $193.1 billion, setting a new historical high, with a growth of 1.2% over the past week. Among them, the market capitalization of USDT is $128.8 billion, accounting for 69.7% of the total stablecoin market capitalization; followed by USDC with a market capitalization of $39.9 billion, accounting for 20.7%; and DAI with a market capitalization of $5.36 billion, accounting for 2.8%.
Data source: CoinW Research Institute, Coinglass
Data as of December 2, 2024
This week, Whale Alert monitored that USDC Treasury issued more than 290 million USDC on Ethereum on November 28.
Data source: Whale Alert
II. This week's hot money trends
1. Top five VC coins and Meme coins with the highest growth this week
Top five VC coins with the highest growth in the past week
Top five Meme coins with the highest growth in the past week
Data source: CoinW Research Institute, coinmarketcap
Data as of December 2, 2024
2. New project insights
● Agentstarter: Virtuals Protocol AI Agent Launchpad.
● Polytrader: AI-driven Polymarket companion, built on Base and SOL chains. Leveraging AI, it enables social media analysis, database analysis, Polymarket predictions, and search engine models.
● AgentLayer: A decentralized AI Agent public chain that supports Agent economy and AI asset trading on L2 blockchains. AgentLayer is about to launch a brand new market prediction product Orbs, which will open interaction in the form of a Telegram bot, allowing users to directly participate in predictions, with project revenue being used to repurchase the project token $AGENT.
III. New industry dynamics
1. Major industry events this week
● The integrated public chain Supra launches its mainnet and starts TGE: The integrated public chain Supra announces the launch of its mainnet, with the TGE for the SUPRA token going live on November 27, 2024. Supra is a vertically integrated L1 public chain that provides MultiVM support, native oracles, on-chain randomness, cross-chain communication, and automation features. Supra has raised a total of $38 million, with investment institutions including Coinbase and Animoca. Since its testnet launch in August 2024, Supra has processed over 9 million transactions.
● The Bitcoin financial public chain SideProtocol will open airdrop registration on November 26: The Bitcoin financial public chain Side Protocol is launching an airdrop, with a total of 100 million SIDE tokens to be distributed. The token $SIDE will initially be issued under the SPL standard on Solana, with the mainnet expected to launch in January 2025, at which point it can be converted into mainnet tokens and participate in staking and governance.
● Core members of daos.fun indicate that the daos.fun x pump.fun index is about to be released: Core member baoskee of the DAO launch platform daos.fun tweeted that the daos.fun x pump.fun index is about to be released.
● MetaMask supports US users to buy cryptocurrencies using Venmo: Cryptocurrency wallet MetaMask tweeted that its US users (except those in Texas and New York) can use Venmo to purchase cryptocurrencies, supported by MoonPay. Users can launch Venmo through the MetaMask extension and mobile devices.
● Base founder states there are no token issuance plans: Base founder Jesse Pollak emphasized that the Base network has no plans to issue tokens, focusing on building global products that people love and can solve real problems. He also mentioned the example of Hyperliquid, illustrating that avoiding adding pricing complexity before product launch is beneficial.
2. Major events happening next week
● RWA stablecoin USDz issuer Anzen Finance will conduct a public sale of ANZ on Fjord Foundry and Starship on December 2, and Anzen's first community airdrop will also follow.
● The Solana Foundation-supported 2024 Taipei Blockchain Week (TBW 2024) hackathon has started online on November 11 and will continue until December 4.
● The Web3 game distribution infrastructure MATR1X will release important news on December 5, related to veMax, which may hint at the opening of MAX staking features.
● The duration of Ethereum L2 Taiko Season 2 is from September 17, 2024, to December 16, 2024, providing a reward of 6 million TAIKO tokens, of which 5 million are for participants and 1 million for DApps.
● The Chicago Board Options Exchange (Cboe) will launch the first cash-settled index options related to spot Bitcoin on December 2, based on the new Cboe Bitcoin US ETF index. These options will be regulated by the SEC, and besides cash settlement, these index options will also offer European style exercise.
3. Important investment and financing events from last week
● Schuman Financial, seed round, raised $7.36 million, with investment institutions including RockawayX, Faction, Bankless Ventures, Kraken Ventures, Gnosis VC, Daedalus, Nexo Ventures, Delta Blockchain Fund, Archblock, etc. Schuman Financial is a stablecoin issuer that launched EURØP, a stablecoin backed by the Euro, aimed at simplifying global digital payments, on-chain forex trading, and tokenizing real-world assets. Schuman Financial has already obtained a stablecoin issuer license in France and is building an ecosystem around EURØP, including SEPA integration, banking channels, and custodial partnerships with tier-one global banks like Société Générale. (November 26)
● Balance, raised $10 million, with investment institutions including Animoca Brands, Amber Group, Mask Network, GSR, MARBLEX, Web3Port, Nonagon Capital, MetaBlast Group, etc. Balance is a Web3 experience infrastructure designed for large-scale user adoption, developed by the Epal team, aimed at providing a seamless transition experience from Web2 to Web3 through the combination of AI and blockchain technology. (November 26)
● Partior, Series B round, raised $20 million, with investment institutions including Deutsche Bank, Temasek, JPMorgan, Jump Trading, etc. Partior is a payment, clearing, and settlement blockchain platform developed from the Ubin project collaboration, created by J.P. Morgan, DBS, and Temasek with the support of MAS, to achieve end-to-end atomic settlement in multiple currencies and replace sequential payment settlement. (November 27)
● U2U Network, raised $13.8 million, with investment institutions including Kucoin Ventures, Cointelegraph, Chain Capital, IDG Blockchain, Maxx Capital, V3V Ventures, JDI Global, IBG, etc. U2U Network is a blockchain based on DAG and compatible with EVM, focused on providing unlimited scalability and on-demand decentralization. (November 28)
● usdx.money, raised $45 million, with investment institutions including NGC, BAI Capital, Generative Ventures, UOB Venture Management, etc. The first stablecoin product from usdx.money is USDX, and the new funding will be used to promote the applications of stablecoin USDX and sUSDX in various fields. (November 29)
