Key points:
1. The total market value of global cryptocurrencies is $3.4 trillion, up from $3.1 trillion last week, with a weekly increase of 9.7%.
2. By public chain classification, the top three public chains with the highest TVL are: Ethereum chain accounts for 55%; Solana chain accounts for 8%; Tron chain accounts for 7%.
3. On-chain data shows that daily transaction volumes are mainly concentrated in the SOL and ETH chains, while daily active addresses are mainly concentrated in the SOL and SUI chains, followed by APT, BNB, and ETH. ETH remains the absolute leader in the DeFi space, with a total locked value of $48 billion, far exceeding other public chains. USDT remains the dominant stablecoin, with a market value of $128.8 billion, accounting for 69.1% of the total stablecoin market value.
4. Innovative projects of interest: Hadron by Tether: Hadron by Tether is an asset tokenization platform that allows users to easily tokenize stocks, bonds, commodities, funds, and reward points, creating new opportunities for individuals and businesses to raise funds using tokenized collateral; FlowerAI: FlowerAI will represent users' position sizes as a flower on the platform, with each flower randomly generated based on hash values, ensuring no two flowers are alike; curved.wtf: Mint NFTs on the curve launchpad without a whitelist or private placement, simplifying NFT gameplay.
One. Market Overview
1. Cryptocurrency total market value/Bitcoin market value share
The total market value of global cryptocurrencies is $3.4 trillion, up from $3.1 trillion last week, with a weekly increase of 9.7%.
Data source: cryptorank
As of today, the market value of Bitcoin (BTC) is $1.93 trillion, accounting for 55.87%. Meanwhile, the market value of stablecoins is $186.3 billion, accounting for 5.62% of the total cryptocurrency market value.
Data source: coingecko
2. Fear Index
The cryptocurrency fear index is 82, indicating extreme greed.
Data source: coinglass
3. ETF data
According to Sosovalue data, the cumulative inflow of the U.S. Bitcoin spot ETF since its launch has reached $30.84 billion; the cumulative inflow of the U.S. Ethereum spot ETF since its launch has reached $106 million. This week, the cumulative inflow of the U.S. Bitcoin spot ETF is $3.38 billion; this week, the cumulative outflow of the U.S. Ethereum spot ETF is $71.6 million.
Data source: CoinW Research Institute, sosovalue
4. ETH/BTC and ETH/USD exchange ratios
ETHUSD: Currently at $3,342, historical highest price was $4,878
ETHBTC: Currently at 0.034237, the historical high was 0.1238, a drop of about 72%
Data source: ratiogang
5. Decentralized Finance (DeFi)
According to DeFiLlama data, the overall TVL range for all DeFi projects this year has been between $60 billion to $100 billion, with a low frequency of overall fluctuations.
Data source: defillama
By public chain classification, the top three public chains with the highest TVL are: Ethereum chain accounts for 55%; Solana chain accounts for 8%; Tron chain accounts for 7%.
Data source: CoinW Research Institute, defillama
Data as of November 25, 2024
6. On-chain data
Mainly analyzing the current data of major public chains ETH, SOL, BNB, TON, SUI, and APT based on daily transaction volume, daily active addresses, trading fees, and total locked value (TVL).
Data source: CoinW Research Institute, defillama, Nansen
Data as of November 25, 2024
● Daily transaction volume and trading fees: Daily transaction volume and trading fees reflect the frequency of network usage and costs, core indicators for measuring public chain activity and user experience. In terms of daily transaction volume, SOL performs the most outstandingly, which may be influenced by low GAS fees and the current concentration of Meme coins on the SOL PVP. Solana has become the preferred choice for meme players due to its low fees and high transaction volume.
● Daily active addresses - Daily active addresses are an important indicator of network user activity, reflecting the ecological participation and user stickiness of public chains. In terms of daily transaction volume, SOL ranks first with over 5 million active addresses; followed by SUI with over 1.57 million active addresses, which is related to the current market darling Meme trend, with active players mainly concentrated on the SOL and SUI chains, followed by APT, BNB, and ETH.
● Total locked value (TVL): reflects the liquidity of funds and is usually used to measure the maturity of DeFi and the level of user trust in the platform. In terms of TVL, ETH remains the absolute leader in the DeFi space, with a total locked value of $48 billion, far exceeding other public chains.
7. Stablecoin market value and issuance situation
In terms of market capitalization share, USDT remains stable overall. Coinglass data shows that as of November 25, the total market value of stablecoins is $186.3 billion. Among them, the market value of USDT is $128.8 billion, accounting for 69.1% of the total market value of stablecoins; followed by USDC with a market value of $38.7 billion, accounting for 30%; and DAI with a market value of $5.3 billion, accounting for 2.8%.
Data source: CoinW Research Institute, Coinglass
Data as of November 25, 2024
Bitcoin continues to reach new highs, and as of the time of publication, Bitcoin has surpassed $98,000. According to Lookonchain monitoring, on November 21, Tether issued 2 billion USDT, and since November 8, Tether has issued a total of 9 billion USDT. The continuous issuance of USDT may also be one of the conditions for the bull market to start.
Data source: Lookonchain, ARKHAM
Two. This week's hot money trends
1. The top five VC coins and Meme coins with the highest increase this week
Top five VC coins with the highest increase in the past week
Data source: CoinW Research Institute, Coingecko
Data as of November 25, 2024
Top five Meme coins with the highest increase in the past week
Data source: CoinW Research Institute, coinmarketcap
Data as of November 25, 2024
2. Insights on new projects
● Hadron by Tether: Tether announced the launch of the asset tokenization platform Hadron by Tether, an innovative project in the RWA track. Hadron by Tether is an asset tokenization platform that allows users to easily tokenize stocks, bonds, commodities, funds, and reward points, creating new opportunities for individuals and businesses to raise funds using tokenized collateral.
● FlowerAI: FlowerAI will represent users' position sizes as a flower on the platform, with each flower randomly generated based on hash values, ensuring no two flowers are alike. Additionally, @FloweyQuant will track smart money anomalies and other data on-chain to allow AI to trade autonomously. It is an interesting project in the automatic trading AI Agent category.
curved.wtf: Mint NFTs on the curve launchpad without a whitelist or private placement, simplifying NFT gameplay.
Three. Industry New Dynamics
1. Major industry events this week
● Magic Eden released the ME token economic model on November 18.
● The Sui ecosystem game studio Ambrus Studio's game E4C, Final Salvation token E4C will have its IDO on November 19.
● The Telegram gaming ecosystem MemeFi token was launched on November 22.
● Fuel depositors must migrate their assets to Fuel Ignition by November 23, and points from the first phase of asset migration will be forfeited if missed.
● FTX's restructuring plan is expected to take effect in early January 2025.
● The Magic Eden token ME will have its TGE on December 10.
2. Major events happening next week
● WalletConnect's WCT claim and staking will go live on November 26;
● Starknet, STRK staking will launch on the mainnet on November 26
● The PlayToEarn MMORPG game Valhalla under Floki will launch its mainnet on November 28, and Valhalla has partnered with the KICK F1 Sim Racing Team to become the official game partner for the 2025 F1 simulation racing season.
● Washington insiders are rumored that Gary is likely to announce his departure after Thanksgiving (November 28), before the inauguration of Trump in January.
3. Important financing and investment from last week
● Noble, Series A, financing amount $15M, investors include Paradigm and Polychain
Led by Wintermute, CMCC Global, and Circle Ventures among others. Noble is an application chain built specifically for issuing native assets in the Cosmos and IBC ecosystems, helping issuers manage their tokens: burn, mint, blacklist, and other functions. (November 19)
● KOKODI, seed round, financing amount $1.1M, investors include Avalanche, Tenzor Capital, Merit Circle, Kangaroo Capital, DCI Capital, etc. KOKODI is a cross-chain, multi-platform MMO game. (November 18)
● Luluchain, financing amount $5M, led by DG Capital, with participation from Smo Capital, LD Block, Unionblock vc, Blockin.venture. Luluchain belongs to the EWA track and aims to transform human emotions into quantifiable, tradable digital assets through AI, creating a new value chain for a decentralized world. (November 19)
● Shinami, financing amount $564M, investors include Race Capital, Aptos, 6th Man Ventures, Sui, Circle, Coinbase, etc. Shinami is building an infrastructure developer platform for Sui, with products aimed at helping teams build applications faster with a better user experience and lower costs, including node services, in-app wallets, etc. (November 21)
Four. This week's research institute report
1. In-depth research report on Magic Eden
Magic Eden is a multi-chain NFT trading market created by a team with Chinese backgrounds, established on the Solana chain in 2021 and rapidly expanding to support Ethereum (ETH), Polygon, BASE, and Bitcoin (BTC) ecosystems. Despite the downturn in the NFT market, Magic Eden has successfully captured a significant market share on the Solana chain through rapid product iteration and rich feature design. The platform's core functionalities include NFT trading market, multi-chain support, project incubator (Launchpad), staking and yield rewards, aggregation market, data analysis and rankings, wallet integration, community governance (DAO), and API integration, among others. Additionally, Magic Eden offers user time-limited discounts, rarity scoring system, on-chain identity verification, membership passes, bulk trading, and custom bundles as unique features. Through these value-added services and detailed data support, Magic Eden lowers the usage threshold for new users, optimizes the trading experience, and enhances user stickiness on the platform.
The main sources of revenue for Magic Eden include transaction fees and service fees for Launchpad projects. Although no tokens have been issued, the platform has launched a points system, allowing users to accumulate points through platform activities for future airdrops. By the end of 2024, the platform will also introduce a test token $TestME, aimed at testing the issuance process for the formal token $ME. Despite the overall downturn in the NFT market, Magic Eden remains competitive, with its growth potential mainly stemming from support for the BTC ecosystem, which is still a blue ocean market. If NFTs on the BTC chain become popular, Magic Eden is expected to welcome broader development space in the future, further consolidating its leading position in the multi-chain NFT trading market.
Original link: https://www.odaily.news/post/5199912
2. Going crazy, can DeSci revolutionize traditional research?
● The DeSci concept did not originate recently; Binance Labs announced its first investment in BIO Protocol, and CZ and Vitalik jointly attended Binance's DeSci Day event, reigniting market interest in DeSci.
● The DeSci track currently has a low market value and is one of the key tracks of interest for top VCs. In addition to Binance Labs starting to布局医疗健康领域, a16z has also started to布局 DeSci领域.
● The DeSci track projects are still in the early exploratory stage, with attention on the BIO ecology and related Memes.
Original link: https://www.odaily.news/post/5199955
