Headlines
▌FTX officially announced that the bankruptcy plan has become effective, with the first batch of compensation expected to be made within 60 days.
FTX officially announced that the bankruptcy plan became effective on January 3 local time. According to the previously disclosed bankruptcy plan, the first batch of compensation is expected to be made within 60 days.
▌Bitcoin's hash rate reached a historical high.
According to CoinWarz data, Bitcoin's hash rate (the total computational power protecting the Bitcoin network) reached a historical high of 1,000 EH/s on January 3, nearly double the network hash rate from 12 months ago. CoinWarz data shows that in January 2024, Bitcoin's hash rate hovered around 510 EH/s. As of the time of writing, Bitcoin's hash rate has fallen back to about 780 EH/s.
Market
As of the time of writing, according to Coingecko data:
BTC's recent transaction price is $97,962.02, with a daily change of +1.4%;
ETH's recent transaction price is $3,592.82, with a daily fluctuation of +4.2%;
BNB's recent transaction price is $717.33, with a daily fluctuation of +2.3%;
SOL's recent transaction price is $217.45, with a daily fluctuation of +5.7%;
DOGE's recent transaction price is 0.3814 yuan, with a daily fluctuation of +13.3%;
XPR's recent transaction price is $2.44, with a daily fluctuation of +1.1%.
Policy
▌Chairman of the Korea Exchange: Interested in launching cryptocurrency ETFs in 2025.
The chairman of the Korea Exchange (Korea Securities Exchange) Eun-Bo Jeong expressed interest in launching cryptocurrency-based ETFs this year to meet global demand for such products. At the opening ceremony for the securities and derivatives market on January 2, Eun-Bo Jeong emphasized the importance of innovative financial products in revitalizing the Korean capital market.
Blockchain applications
▌Bio Protocol January roadmap: Bridging to Solana and Base, launching platform contracts.
Bio Protocol co-founder Paul Kohhaas released the Bio Protocol January roadmap, which includes: introducing 10 new DAOs; launching Rust and EVM launch platform contracts; bridging BIO to Solana and Base networks; launching the genesis projects of Curetopia and Long COVID Labs; initiating DeFi liquidity pairing; releasing DeScAI agent MVP (in collaboration with Vita Dao); conducting the token generation event (TGE) for Quantum Biology DAO; and starting platform audits.
▌Base is considering launching tokenized COIN stock.
Base developer Jesse Pollak stated in a post on platform X that Coinbase is considering offering tokenized shares of its stock to its US users on its Ethereum Layer 2 network, Base. Pollak noted that non-US users can already access tokenized COIN shares through protocols like Backed (a tokenized RWA platform), and implementing COIN on Base is 'something we are looking into for the new year,' adding that ultimately 'every type of asset in the world will be implemented on Base.' Jesse Pollak further stated that Coinbase 'currently has no specific plans,' and is in the 'exploration stage' as the exchange works to understand how to comply with US regulations.
Cryptocurrency
▌UNI breaks through $15.
Market data shows that UNI has broken through $15, currently quoted at $15.01, with a 24-hour increase of 6.08%; the market is volatile, please ensure proper risk control.
▌Polymarket's cumulative trading volume in 2024 exceeds $9 billion.
The Block's aggregated data shows that multiple metrics on the 2024 prediction market platform Polymarket have seen exponential growth, including active traders, trading volume, and open interest (OI), reaching historical highs earlier this year. The platform's cumulative trading volume exceeded $9 billion, with a monthly trading volume of $2.63 billion in November reaching a historical high; in December, the number of active traders reached a new high of 314,500; while open interest (OI) hit a historical high of $510 million during the November US elections. Polymarket's annual monthly trading volume growth rate was 66.5%. In January 2024, Polymarket's trading volume was only $54 million, but by November, this figure had risen to over $2.6 billion, a nearly 48-fold increase within a year.
▌A new wallet has withdrawn 84 million PENGU from Binance, worth $3.05 million.
According to OnchainLens monitoring, a newly created wallet has withdrawn 84 million PENGU from Binance, worth $3.05 million.
▌Babylon's official Twitter account was hacked this morning; users are advised not to click on any links.
On January 4, news from the community reported that the official X account of Babylon was hacked this morning, and tweets containing phishing links that were previously posted by the account have been deleted. However, it is currently unclear whether control of the account has been regained, and users are advised not to click on any links posted by that account.
▌Coinbase CEO sold $636 million worth of COIN stock last year, and Michael Saylor sold $410.8 million worth of MicroStrategy stock.
According to the internal stock sales disclosed by the top 60 companies in the S&P 500 index for 2024, about 500 insiders, executives, investors, and other major shareholders sold a total of $36.9 billion worth of company stock, with Amazon Executive Chairman Jeff Bezos accounting for more than one-third of that total (over $13.4 billion). Four crypto executives made it to the top 25: Coinbase CEO Brian Armstrong ranked 8th with $636 million; MicroStrategy's Michael Saylor ranked 13th with $410.8 million; Coinbase co-founder Fred Ehrsam was ranked 22nd with a total of $203.8 million, which includes his trust and the COIN stock sold by his fund Paradigm; closely behind Ehrsam is Coinbase COO Emilie Choi, who joined the company from LinkedIn in 2018, with an amount of $186.4 million.
▌Cango enters the Bitcoin mining industry and may become one of the largest miners in the world.
Car trading service provider Cango entered the Bitcoin mining sector in November, investing $400 million to acquire 50 EH/s of computing power, instantly becoming one of the largest miners in the world. Bitcoin's computing power currently hovers around 823 EH/s, and once Cango's 50 EH/s is fully online, it will provide about 6% of the computing power behind Bitcoin. For reference, the world's largest publicly traded miner, MARA Holdings (MARA), has just over 47 EH/s of computing power, while the second largest, CleanSpark (CLSK), and Riot Platforms (RIOT) have 32 EH/s and 26 EH/s respectively.
Important economic dynamics
▌Federal Reserve Governor KUGLER: The US job market remains resilient.
Federal Reserve Governor KUGLER stated that the economic situation in 2024 is good, the US job market remains resilient, and has been gradually cooling; real wage growth for workers; a 4.2% unemployment rate is still at a historically low level, and the job market is stable, hoping to maintain this state.
▌US ISM Manufacturing PMI rose slightly in December.
The US ISM Manufacturing PMI for December rose for the second consecutive month in December, with both orders and production showing some recovery, indicating that the clouds hanging over the manufacturing sector may be starting to dissipate. According to output indicators, the recovery in demand helped achieve the first month of production growth since May. Meanwhile, the survey showed that more manufacturers are laying off workers at a faster pace. The employment index for December fell to 45.3, down nearly 3 points, the largest drop since July last year. Of the five indicators that make up the overall PMI, the remaining indicators have all improved. ISM Manufacturing Business Survey Committee Chair Timothy Fiore stated: 'Demand is improving, production execution has reached November's performance and the goals of businesses; layoffs are still ongoing, but should end soon, and price growth is minimal.'
▌Federal Reserve's Barkin: Uncertainty in financial markets seems to have decreased.
Federal Reserve's Barkin stated that uncertainty in financial markets seems to have decreased, with market predictions for the policy path aligning with the Fed's median expectations. There is growing recognition that long-term rates may not decline significantly as once hoped.
▌Federal Reserve's Barkin: The fundamental outlook for 2025 is positive, with upside risks to growth greater than downside risks.
Federal Reserve's Barkin stated that the fundamental outlook for 2025 is positive, with upside risks to growth greater than downside risks. Inflation has not yet returned to target levels and more efforts are needed; there are some potential upside risks to inflation. The story for 2025 will focus less on monetary policy and more on economic fundamentals, possibly also involving geopolitical factors.
▌Offshore RMB against the US dollar fell by 180 points from Thursday's New York close.
Offshore RMB (CNH) against the US dollar was reported at 7.3583 yuan at 05:59 Beijing time, down 180 points from Thursday's New York close, trading overall in the range of 7.3244-7.3629 yuan during the day. Onshore RMB (CNY) against the US dollar closed at 7.3216 yuan at 03:00 Beijing time, down 222 points from Thursday's night session. Trading volume was $47.403 billion.
Golden Encyclopedia
▌What is a compressed NFT?
CNFT is a relatively new non-fungible token that utilizes state compression technology to store data more efficiently on Solana. Unlike traditional NFTs that store all token metadata directly on-chain or through external links (like IPFS), cNFT uses Merkle trees to optimize data storage.
Disclaimer: As a blockchain information platform, the articles published by Golden Finance are for informational reference only and do not constitute actual investment advice. Please establish a correct investment philosophy and be sure to raise risk awareness.
