I. Key Market Data and Trends

(1) Bitcoin Price Breakthrough and Funding Rates
- According to HTX market data, Bitcoin broke through $106,000, creating a new historical high, currently quoted at $106,312, with a 24-hour increase of 4.87%.

- Despite rising prices, Coinglass data shows that the current funding rates for mainstream CEX and DEX indicate that the market does not show a significant bullish sentiment or FOMO. For example, the funding rates for BTC on mainstream platforms are: Binance at 0.01%, OKX at 0.0067%, Bybit at 0.01%, dYdX at 0.0264%, and Bitget at 0.0127%.

(2) Liquidation Data Across the Network
Coinglass data shows that in the past 24 hours, the total liquidation across the network was $224 million, with long positions liquidating $103 million and short positions liquidating $121 million. BTC liquidations amounted to $50.26 million and ETH liquidations to $32.04 million.

II. Connection of Macroeconomic Policy
(1) Federal Reserve Interest Rate Policy Expectations
- According to CME's "FedWatch", the probability of the Federal Reserve maintaining the current interest rate in December is 4.0%, and the cumulative probability of a 25 basis point rate cut is 96%; the probability of maintaining the rate in January next year is 3.2%, with a cumulative probability of a 25 basis point rate cut at 78.3%, and a cumulative probability of a 50 basis point rate cut at 18.5%.
- Goldman Sachs believes that a rate cut in December is a foregone conclusion, with consecutive 25 basis point cuts in January and March 2025. Future cuts will only occur at specific meetings, but officials have indicated that there is a risk of pausing rate cuts in January. Traders believe that the probability of a 25 basis point cut at the December 17-18 meeting is 97%, but stronger data in November increases the risk of pausing rate cuts in early 2025. Powell's speech and economic forecasts are crucial.

III. Progress of Important Cryptocurrency Projects
(1) Actions of the Trump Family Cryptocurrency Project
According to Arkham monitoring, at 6:51 AM Beijing time today, the Trump family cryptocurrency project WLFI spent 250,000 USDC to purchase 134,216 #ONDO tokens and increased its holdings of #AAVE yesterday, valued at approximately $80,000.
(2) OpenSea Strategic Layout
TheBlock co-founder Mike Dudas revealed that OpenSea registered a foundation in the Cayman Islands, sparking speculation about its issuance of tokens and user airdrops. This move is significant in the development of Web3 projects.

IV. Industry Regulations and Corporate Dynamics
(1) Bitcoin Accounting Standards Reform
The US Financial Accounting Standards Board (FASB) has officially implemented fair value accounting standards for Bitcoin, changing the situation where companies could only measure Bitcoin assets at historical costs. This reform is beneficial for more accurately reflecting their actual value and reducing accounting barriers, having a profound impact on the financial treatment of companies holding Bitcoin assets.

(2) Binance Infringement Dispute
Internet celebrity squirrel #Peanut's owner Mark Longo sent a cease-and-desist letter to Binance for unauthorized use of his PNUT trademark and related images for commercial activities. If intentional infringement occurs, compensation could reach up to $150,000 per item, requiring Binance to respond by December 31 and cease infringement, involving compliance issues regarding intellectual property protection in business operations.

V. Technology and Security of Cryptographic Assets
(1) Bitcoin Miner Selling Situation
Crypto analyst Ali cited Santiment data, showing that since December, Bitcoin miners have sold more than 140,000 BTC, totaling $13.72 billion, reflecting miner market behavior and potential market supply changes.

(2) Dogecoin Vulnerability Incident
Dogecoin was attacked by a vulnerability known as "Dogereaper", with 69% of nodes compromised by Sequentia developer Andreas Kohl using an old laptop. Although the situation did not worsen due to key stakeholders patching it in advance, it highlights cybersecurity risks and code vulnerabilities.

VI. Performance of Other Cryptocurrencies and Market Expectations
(1) Price Increases of Specific Cryptocurrencies
- #ONDO broke through $2.10, creating a new historical high, currently quoted at $2.08, with a 24-hour increase of 10.3%.
- #HYPE continues its upward trend, reaching $25, with a 24-hour increase of 7.87%, a market cap of $8 billion, and a 24-hour trading volume of $395 million.

- The NFT Pudgy Penguins floor price broke through 33 ETH, currently reported at 32.97 ETH, approximately $128,500, with both coin-based and dollar-based prices reaching new historical highs; Lil Pudgys floor price broke through 4 ETH, currently reported at 3.99 ETH, approximately $15,500, with both coin-based and dollar-based prices reaching new historical highs.

(2) Outlook on Stablecoin Applications
VanEck Ventures partners expect that in the next 3-5 years, about 30% of remittances between the US and Mexico may use stablecoins, which has a positive outlook on the expansion of stablecoin cross-border application scenarios.

VII. Regional Cryptocurrency Holding Data
Mempool data shows that El Salvador holds 5,965.76 BTC, approximately $615 million, reflecting the scale and total value of cryptocurrency holdings in specific regions.



VIII. Summary of Hot Topics on the SOL Chain

I. Introduction of Featured Projects
(1) Animal-Themed Projects
1. #Jasper: A dog-related derivative project by Axie founder @Jihoz_Axie, attracting attention through continuous dog-related tweets, with a market cap of approximately $4.8M.
2. #FRTDOG: A project named 'Fart Dog Walter', utilizing artificial intelligence to process Twitter and TG information, with a market cap of approximately $1.2M.

(2) Art and Creative Projects
1. #ARTCOINS: Focuses on on-chain generated AI art, with each transaction producing unique, browser-generated works, with a market cap of approximately $410.8K.
2. #GALILEO: Launched by @GalileoIndexSOL, aimed at assessing the authenticity of AI models through a practical experience framework, with a market cap of approximately $1.2M.

(3) Specific Events and IP Projects
1. #DRONES: Associated with the recent occurrences of mysterious drones in New Jersey, with a market cap of approximately $1.8M.
2. #Calum: A token issued by original IP animator @cosasdecalum, who has 210,000 Instagram followers, with a market cap of approximately $1.3M.
3. #13thfridaysol: A project based on the famous American horror movie Friday the 13th, with a market cap of approximately $379K.

(4) Technology and Application Projects
1. #GWART: An AI agent project developed by @eigen_labs protocol development director @ScottHConner, endorsed by SOL co-founder @aeyakovenko, with a market cap of approximately $11.7M.
2. #RINA: An AI agent project built on RIC@arcdotfun, with a market cap of approximately $588K.
3. #poopay: A decentralized solution token mentioned in the AI dialogue document of $zerebro, with a market cap of approximately $1.3M.
4. #WILLOW: Google's announcement of the world's first human quantum chip for supercomputers, rumored to be capable of breaking Bitcoin. Many news reports should follow about this keyword, making it a great hype IP.

Hot topics for reference only and not investment advice.