Headlines
▌Ethereum may become a reserve asset
Bankless co-founder Ryan Sean Adams stated on social media that Ethereum as a reserve asset is achievable.
▌Zhao Changpeng: Happy to contribute to the acquisition of Twitter
Zhao Changpeng posted on platform X, expressing his happiness to contribute to the acquisition of Twitter, while also sharing news about Binance's $500 million investment in Elon Musk's acquisition of Twitter.
Market
As of the time of publication, according to Coingecko data:
BTC's recent transaction price is $101,528, with a daily change of -0.8%;
ETH's recent transaction price is $3,874.98, with a daily change of -1.5%;
BNB's recent transaction price is $714.49, with a daily change of -2.4%;
SOL's recent transaction price is $220.33, with a daily change of -2.8%;
DOGE's recent transaction price is 0.3973 yuan, with a daily change of -3.7%;
XPR's recent transaction price is $2.40, with a daily change of -0.9%.
Policy
▌South Korean National Assembly passes Yoon Seok-youl's impeachment case
According to market news, the South Korean National Assembly held a second vote on President Yoon Seok-youl's impeachment case, which passed with enough votes. According to procedure, the impeachment case will be submitted to the Constitutional Court for review, which can take up to 180 days.
▌South African regulators have granted 248 cryptocurrency licenses, rejecting 9 applications
According to Golden Finance, as reported by News.bitcoin, the South African financial regulator, the Financial Sector Conduct Authority (FSCA), has issued a total of 248 cryptocurrency asset service provider (CASP) licenses from 420 applications received. According to local reports, 56 applications are under review, and 9 applications have been rejected, while 106 entities withdrew their applications after the FSCA expressed concerns about their business models.
▌Director of the Research Bureau Wang Xin: Will appropriately lower interest rates and increase monetary credit issuance
At the 2024-2025 China Economic Annual Conference held today by the China International Economic Exchange Center, Wang Xin, director of the Research Bureau of the People's Bank of China, stated that monetary policy support should be moderately increased, timely interest rate cuts and reductions in reserve requirements should be implemented, and monetary credit issuance should be increased. Overall, next year, a moderately loose monetary policy will moderately exert strength based on this year's supportive stance. The support for both total and structural monetary policies will be moderately increased, timely interest rate cuts will be implemented, and monetary credit issuance will be increased to support key strategies, key areas, and weak links. The financing conditions for the real economy will become more relaxed, effectively meeting development needs, and helping to achieve a stable growth, stable employment, and reasonable price recovery optimization combination. Wang Xin revealed that in the next stage, the total monetary policy will be strengthened to fully meet effective financing needs and promote sufficient flow of funds to the real economy.
Blockchain applications
▌Uniswap v3 is being deployed on Sonic, coming soon
On December 14, news emerged that Oku, a professional front-end trading platform based on Uniswap V3, announced that it would deploy Uniswap V3 on Sonic (formerly Fantom Opera). The proposal states that all Uni V3 contracts have been deployed on Sonic, and the DAO needs to take no further action.
Cryptocurrency
▌Bitwise CEO: AI agents need encrypted systems and will trade using stablecoins and Bitcoin
Bitwise CEO Hunter Horsley posted on platform X, stating that a whole new system is needed for AI agents. This system is cryptocurrency. They will trade using stablecoins and Bitcoin, they will lend through DeFi, they will use smart contracts, requiring no courts, and they will have tokenized ownership and governance. It may still be too early to discuss this topic, but cryptocurrency is not just a digital version of gold and stock investments. It will create a whole new, independent financial and property system for people and entities in the digital world.
▌Trump's crypto project WLFI purchases over 500,000 ENA
3 hours ago, Trump's crypto project WLFI spent 500,013 USDC to purchase the first 509,955 ENA at an average price of $0.981. Overall, since November 31, World Liberty Financial has spent $44.41 million to acquire 5 types of crypto assets, including: • 8,105 ETH (cost: $30 million, average purchase price: $3,701), current price +$1.29 million • 102.9 cbBTC (cost: $10 million, average purchase price: $97,181), current price +$410,000 • 78,387 LINK (cost: $2 million, average purchase price: $25.51), current price +$290,000 • 5,886 AAVE (cost: $1.91 million, average purchase price: $324.4), current price +$252,000 • 509,955 ENA (cost: $500,000, average purchase price: $0.981), current price +$81,300
▌This week, NFT trading volume reached $224.41 million, a 16.27% increase compared to the previous week
According to News.bitcoin, from December 7 to December 14, NFT trading volume increased by 16.27%, reaching $224.41 million across 22 different blockchains. Ethereum led with over $119 million in trading volume, an increase of 22% from the previous week. Bitcoin's NFT ranked second, totaling $51.64 million, with a 14.31% increase, while Solana followed closely with a trading volume of $21.44 million, up 32%. Additionally, BNB Chain had an increase of up to 368%, while Blast skyrocketed by 262%. The hottest collection was the Ethereum-based Pudgy Penguins, which saw a 52% increase in trading volume.
Important economic dynamics
▌The Federal Reserve may hint at pausing interest rate cuts in early 2025
According to Golden Finance, analyst Megan Leonhardt stated that although there was no progress in curbing inflation in November, federal funds futures indicate that the likelihood of Federal Reserve policymakers lowering the benchmark interest rate by another 25 basis points is nearly 100%. The rationale for the rate cut may depend on the Fed officials' desire to align the benchmark rate with the current economic situation, as inflation has significantly decreased from its peak in 2022, and the previously tight labor market is normalizing. However, if next week's rate cut is accompanied by Powell's forward guidance, suggesting the Fed will seek to pause rate cuts at the beginning of the year, do not be surprised. The Fed not only needs to control inflation in the final stages but many fiscal policy outcomes over the next year may change the direction of inflation. Additionally, there are indeed some weak spots in the labor market that warrant close observation. All of this presents directional challenges for the Fed in the coming months, and policymakers may avoid taking action at a startling pace.
▌Will appropriately lower interest rates and increase monetary credit issuance
At the 2024-2025 China Economic Annual Conference held today by the China International Economic Exchange Center, Wang Xin, director of the Research Bureau of the People's Bank of China, stated that monetary policy support should be moderately increased, timely interest rate cuts and reductions in reserve requirements should be implemented, and monetary credit issuance should be increased. Overall, next year, a moderately loose monetary policy will moderately exert strength based on this year's supportive stance. The support for both total and structural monetary policies will be moderately increased, timely interest rate cuts will be implemented, and monetary credit issuance will be increased to support key strategies, key areas, and weak links. The financing conditions for the real economy will become more relaxed, effectively meeting development needs, and helping to achieve a stable growth, stable employment, and reasonable price recovery optimization combination. Wang Xin revealed that in the next stage, the total monetary policy will be strengthened to fully meet effective financing needs and promote sufficient flow of funds to the real economy.
Golden Encyclopedia
▌What is Rollup?
Rollup is a way to process transactions on Layer 2 protocols, freeing up valuable space on the base layer. Rollup folds transactions on the second layer one by one, sometimes folding dozens of times, then rolls them together and sends the data back to Layer 1. There are primarily two types of Rollup, optimistic and zero-knowledge (ZK) proofs. Optimistic Rollup is a quite straightforward term. It means that Rollup operates with an 'optimistic' approach, assuming the transactions are valid unless the validators prove them wrong. They only check the validity of the transactions in case of disputes. ZK Rollup proves transactions without revealing any transaction data. Therefore, it is called 'zero-knowledge'. ZK Rollup provides instant finality as cryptographic proofs guarantee data validity. In many ways, Rollup is to your standard blockchain transaction what Calzone is to a regular pizza slice. By rolling up, you can put in more stuff.
Disclaimer: Golden Finance, as a blockchain information platform, publishes articles for information reference only and does not constitute actual investment advice. Please establish a correct investment concept and be sure to raise risk awareness.
