Author: Deep Tide TechFlow
Yesterday's market dynamics
Pump.fun co-founder alon denies Christmas airdrop rumors.
In response to community rumors that Pump.fun will conduct an airdrop on Christmas, Pump.fun co-founder alon explicitly stated "False," denying the information.
The privacy-secure computing network Nillion announced that its mainnet will launch in February 2025.
The privacy-secure computing network Nillion tweeted that its mainnet will launch in February 2025. Previously, Nillion completed a $25 million financing round led by Hack VC.
Barclays: The Federal Reserve is expected to pause rate cuts after June next year, until mid-2026.
Barclays Bank stated that one of the factors that may keep U.S. interest rates high is U.S. (inflation) policy. At the December meeting, some FOMC participants clearly began to reflect expectations of tariffs in their inflation forecasts. Furthermore, even among those who did not adjust their official forecasts, many now believe that the balance of inflation risks tilts upward. Although Powell did not explicitly answer to what extent the Federal Reserve is inclined to view price level increases related to tariffs, we believe it will be a challenge for the Federal Reserve to continue cutting rates, especially against the backdrop of rising inflation rates in recent years, as tariffs are expected to exacerbate inflation in the second half of 2025. We expect the Federal Reserve to pause rate cuts after June next year and resume rate cuts around mid-2026 after the inflation pressures from tariffs subside. In our baseline, we expect two 25 basis point cuts in 2026, with a terminal rate of 3.25-3.50%.
Greeks.live: The Christmas holiday is expected to see tight funds, with a pronounced risk-averse sentiment in the cryptocurrency market.
Greeks.live macro analyst Adam stated on the X platform that this Wednesday is Christmas, and major exchanges in Europe and the U.S. are entering a holiday break, with cryptocurrency funds typically showing outflows this week. Currently, ETFs are the main external source of capital for the cryptocurrency market, and the pressure from capital outflows on the market is significantly higher than in previous years, leading to a strong risk-averse sentiment. Regarding the outlook for the cryptocurrency market, this round of the bull market has not seen significant corrections. Now, with the Christmas holiday approaching and funds expected to be tight, it cannot be ruled out that there will be a deleveraging trend before Trump's inauguration, and the market sentiment remains risk-averse.
Regarding the cryptocurrency interest rate market, nearly $12 billion of options are set to expire, accounting for over 40% of the current total positions. Large players and market makers are actively repositioning, and paying attention to the market can occasionally yield good opportunities for bargains. The volatility expectation for this week's Christmas is not significant, and the market is more focused on betting on the trends around Trump's inauguration at the end of January. Recently remains a good opportunity to buy options.
Tether CEO: The company's net profit for 2024 is expected to exceed $10 billion.
Tether CEO Paolo Ardoino stated in an interview with Bloomberg that the company's net profit for 2024 is expected to exceed $10 billion. Data shows that USDT's market capitalization has increased by nearly $50 billion this year and has now surpassed $140 billion.
Tether's main income comes from investments of its stablecoin reserve assets in U.S. Treasury bonds, gold, and other securities. Ardoino revealed that the company has already invested more than half of its net profit this year, including a $775 million investment in Rumble.
Wormhole DAO will launch in the first quarter of next year.
Cross-chain protocol Wormhole states that Wormhole DAO will launch in the first quarter of 2025. To participate in the first vote, W holders need to stake for governance. The Wormhole Staking Rewards Program (SRP) is underway across all chains (EVM + Solana), with an initial reward pool of at least 50 million W tokens. Previously, Wormhole launched a W token staking program with a minimum reward of 50 million tokens.
Data: Tokens such as MRS, ADA, and ENA will see significant unlocks this week, with MRS unlocking valued at approximately $34.7 million.
Token Unlocks data shows that tokens such as MRS, ADA, and ENA will see significant unlocks this week, including:
Metars Genesis (MRS) will unlock approximately 10 million tokens at 8 AM Beijing time on December 23rd, which is 11.87% of the current circulation, valued at approximately $34.7 million;
Cardano (ADA) will unlock approximately 18.53 million tokens at 8 AM Beijing time on December 26th, which is 0.05% of the current circulation, valued at approximately $16.6 million;
Ethena (ENA) will unlock approximately 12.86 million tokens at 3 PM Beijing time on December 25th, which is 0.44% of the current circulation, valued at approximately $13.5 million;
Murasaki (MURA) will unlock approximately 20 million tokens at 8 AM Beijing time on December 23rd, which is 34.84% of the current circulation, valued at approximately $12.2 million;
Eigenlayer (EIGEN) will unlock approximately 1.29 million tokens at 3 AM Beijing time on December 25th, which is 0.61% of the current circulation, valued at approximately $4.9 million;
MMX (MMX) will unlock approximately 1.67 million tokens at 8 AM Beijing time on December 24th, which is 1.11% of the current circulation, valued at approximately $1.8 million;
Venom (VENOM) will unlock approximately 33.76 million tokens at 8 AM Beijing time on December 25th, which is 1.77% of the current circulation, valued at approximately $2 million;
The Uniswap L2 network Unichain mainnet will launch early next year.
Uniswap L2 network Unichain announced its mainnet development roadmap, which will officially launch early next year. Since the launch of the Unichain Sepolia testnet in October, there have been 50 million test transactions and over 4 million test contracts deployed on the network. The Sepolia testnet has been made public, and infrastructure providers are actively testing the mainnet. After the mainnet launch, it will continue to promote decentralization and performance improvements through new features. These features will first be launched on the experimental testnet for stability and performance testing, then transferred to Sepolia for broader testing, and finally launched on the mainnet. The first feature on the public experimental testnet is Flashblocks, which will reduce effective block time to 250 milliseconds, allowing transactions to complete instantly. The Unichain verification network will also launch on the experimental testnet, and the community will be invited to run test verification nodes.
CZ: Uncertain how the $40 billion worth of Bitcoin held by the UAE was calculated, the number is higher than expected.
Binance co-founder CZ previously retweeted data from a media outlet indicating that the UAE holds $40 billion worth of Bitcoin, which led to skepticism in the community regarding the data, suggesting that the relevant report appeared to be AI-generated. In response, CZ stated, "I also want to know how they arrived at this exact figure; collecting relevant data is difficult, higher than I expected, but that said, there are a lot of wealthy people there (in UAE)."
Analysts: No need to worry about the end of the bull market; the cryptocurrency market still has ample momentum.
New Zealand crypto analyst Lark Davis tweeted that if you're worried about the end of the bull market, consider the following points: In December 2020, BTC fell by 12% after a prior increase of 77% from October to November. Subsequently, in the following 23 days, its price rose from $17,000 to $41,000 (an increase of 136%). Similar events are unfolding, with Bitcoin experiencing a 13% drop after a significant rise in the fourth quarter. This does not mean the current is the market bottom; there may still be a 10-15% adjustment. However, Bitcoin and the cryptocurrency market still have ample momentum.
Market dynamics
Recommended reading
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