Author: Shenchao TechFlow
Market dynamics from yesterday.
Binance responds to the incorrect market cap data for USUAL and ACX: it is due to directly using CMC data, and will optimize related processes in the future.
Binance posted on social media: 'We have noted the recent community discussions regarding the token supply data for USUAL and ACX and conducted an internal investigation immediately. The specific cause of the incident is as follows: Binance directly uses data from CoinMarketCap (CMC) for the token circulation information displayed on the 'trading page' and 'price page' for relevant projects. Therefore, according to past processes, when the project's data is not updated, the data on CMC and Binance pages will also be affected.
About ACX: On December 6, the Binance team discovered an error in the circulation data of ACX and immediately contacted the project party to correct the data on CMC; about USUAL: Changes in token supply information are mainly due to differing standards between CMC and the project party regarding the definition of liquidity and how to reference data. After discussions, the project party has completed the corrections on CMC. As mentioned above, we have clarified the root of the problem and conducted post-analysis. In the future, we will strive to improve the collaboration and processes between the project party, CMC, and Binance regarding the display of token circulation and other related information, so that we can quickly verify key information about tokens before they go online and ensure its accuracy to avoid similar issues.
Trump: No plans to replace Federal Reserve Chairman Powell.
According to Jinshi reports, U.S. President-elect Trump stated in an NBC program aired on Sunday (meeting with Kristen Welker) that he will not attempt to replace Federal Reserve Chairman Powell after taking office in January. When asked if he would seek to replace Powell, Trump told Welker, 'No, I don’t think so.' 'I think if I tell him, he will (resign). But if I ask him (to resign), he might not.'
Sushi plans to launch multiple products, including an on-chain trading platform Wara and an on-chain perpetual DEX Susa in 2025.
Sushi CEO Jared Grey released the 2025 product roadmap, which will introduce multiple new products, including the Solana-based integrated trading platform Wara, on-chain order book perpetual DEX platform Susa, perpetual contract product Kubo, and anti-MEV LVR AMM solution Blade. Additionally, the SushiSwap aggregator will expand distribution through partnerships with new collaborators, and Grey hinted at potential future token airdrops.
Tokens such as APT, ADA, and ENA will experience large-scale unlocks this week, with APT unlocking valued at approximately $160 million.
Token Unlocks data shows that tokens such as APT, ADA, and ENA will usher in large-scale unlocks this week, among which:
Aptos (APT) will unlock approximately 11.31 million tokens at midnight Beijing time on December 12, representing 2.11% of the current circulation, valued at about $160 million.
Cardano (ADA) will unlock approximately 18.53 million tokens at 8 AM Beijing time on December 11, representing 0.05% of the current circulation, valued at about $22.24 million.
Ethena (ENA) will unlock approximately 12.86 million tokens at 3 PM Beijing time on December 11, representing 0.44% of the current circulation, valued at about $12.88 million.
Bitget Token (BGB) will unlock approximately 5.38 million tokens at 8 AM Beijing time on December 10, representing 0.38% of the current circulation, valued at about $13.98 million.
io.net (IO) will unlock approximately 2.11 million tokens at 8 PM Beijing time on December 11, representing 1.68% of the current circulation, valued at about $7.46 million.
People's Court News: 'Mining' condenses social abstract labor, and the act of stealing virtual currency constitutes theft.
On December 5, People's Court News published an article (On the Criminal Qualification of Illegal Theft of Virtual Currency), stating that several defendants agreed to use contract codes to steal USDT, stealing a total of 57,307.11 USDT from the victim Hu.
Regarding this case, People's Court News analyzed that the defendants' actions violated the crime of illegally obtaining computer system data and theft, and this case should be recognized as theft. According to relevant regulations, whether it is legally protected is not necessarily related to whether it has property attributes; the relevant regulations only deny the legal currency status of virtual currency, but do not deny the property attributes of virtual currency. As economic property, it must have value, including utility, scarcity, and disposability.
Scarcity is reflected in the fixed total supply of virtual currency, not in unlimited supply. Disposability is manifested as virtual currency uses asymmetric encryption technology, existing in 'wallets' (i.e., addresses), and once the address and private key are obtained, the virtual currency can be controlled.
Utility is reflected in the fact that virtual currency, as specific data encoding, must undergo 'mining' to be generated, and 'mining' condenses social abstract labor.
In real life, virtual currency can be transferred and traded, yielding calculable economic benefits, possessing utility and exchange value. Therefore, virtual currency has property attributes, and the act of stealing virtual currency constitutes theft.
Analyst: The current trend of Ethereum is similar to that of 2016-2017, and it may experience explosive growth.
According to Cointelegraph, data shows that Ethereum is experiencing a breakout trend similar to XRP, breaking above its three-year symmetrical triangle pattern's upper trend line within a week as of December 8. Market analyst VentureFounder predicts that Ethereum will experience an 'impulsive breakout' in the coming months, with its current trend being similar to its cycle in 2016-2017, and it is predicted to repeat the explosive growth that drove ETH to new highs at that time.
VentureFounder stated that maintaining $3,800 as support for Ethereum is very important, and successfully holding this level will increase the likelihood of re-testing its historical high of $4,878 in the short term, after which it may continue to rise. He even predicts that the price target for ETH is to reach $15,937 by May 2025, which will first push Ethereum's market cap beyond $1 trillion.
Andrew Kang: ARB is severely undervalued, and the Stylus platform may become a major driving force for growth.
Andrew Kang, a partner at Mechanism Capital, stated on social media that although Arbitrum ($ARB) has seen strong growth recently, it is still severely undervalued from a fundamental perspective. Compared to projects like Sui, Avalanche, and Tron, the trading price of $ARB is only a small part of these projects, yet it has achieved multiples of these projects in terms of trading volume and TVL (Total Value Locked) (even without counting HL activities).
Kang stated that there are currently many institutional investors focusing on these fundamental indicators rather than memes. He believes that supporting developers to build on the Rust/C++-based Stylus platform, game deployment/Animechain, and ongoing cross-chain interoperability research will become the biggest driving force for Arbitrum's future growth.
The probability of a 25 basis point rate cut by the Federal Reserve in December has risen to 86%.
According to CME's 'Federal Reserve Watch', the probability that the Federal Reserve will maintain the current interest rate unchanged until December is 14%, and the cumulative probability of a 25 basis point rate cut is 86%.
Data: The top 15 entities holding Bitcoin in institutions collectively own approximately 1.647 million Bitcoins.
According to HODL15Capital, as of December 7, the top 15 entities holding Bitcoin in institutions collectively own about 1.647 million Bitcoins. BlackRock IBIT holds 523,735 Bitcoins in the top position, MicroStrategy holds 402,100 Bitcoins in second place, and Grayscale GBTC holds 212,385 Bitcoins in third.
Other major holding institutions include Fidelity FBTC (200,440), Tether (82,454), ARKB (48,393), and BITB (41,062), MARA Holdings (MARA), HODL, Tesla, Coinbase, HUT, BRRR, SQ, Tether, CLSK, etc.
Market dynamics.
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Learn about Simmi and Empyereal: new hotspots for AI Agents, performing on-chain token operations directly with social media accounts.
Simmi is an innovative platform that integrates social, AI, and financial domains. It utilizes the capabilities of Simulacrum AI to autonomously manage wallets associated with X, providing Web2 users with a seamless onboarding experience. Simmi raised approximately $500,000 in 4 days and ranks in the top ten of the AI Agents Index. It has also collaborated with AiBT Agent to launch the $CHAOS token, generating substantial revenue. Simmi is a flagship project supported by the Empyreal SDK and is attracting widespread attention from the market and institutional investors.
Analysis of Hyperliquid's airdrop model: Why can the 'product-first, then token' model win?
Hyperliquid's airdrop model redefines the rules of token distribution, reflecting the importance of DeFi and user-facing applications in the industry. The project does not distribute tokens before the product goes online but gradually introduces tokens after multiple iterations with users, which may create strong buying pressure. At the same time, Hyperliquid's focus on community culture and aesthetic design is also worth learning. However, Hyperliquid has also set unrealistic expectations to some extent, making it difficult for projects that cannot raise large amounts of funding. Entrepreneurs should focus on product development rather than pursuing huge financing.
