News preview:
MicroStrategy will officially join the Nasdaq 100 index on December 23, becoming the first Bitcoin-related company to enter the index;
Metars Genesis (MRS) will unlock about 10 million tokens at 8 AM Beijing time on December 23, which is 11.87% of the current circulation, worth approximately $34.7 million;
Ethena (ENA) will unlock about 12.86 million tokens at 3 PM Beijing time on December 25, which is 0.44% of the current circulation, worth approximately $13.5 million;
Due to the upcoming Christmas holiday, the market will be relatively calm next week, although there are still some influential data. However, due to thin liquidity, market volatility may become significant;
Cardano (ADA) will unlock about 18.53 million tokens at 8 AM Beijing time on December 26, which is 0.05% of the current circulation, worth approximately $16.6 million
December 23
Exchanges:
The South Korean cryptocurrency exchange Aprobit has announced that it will cease operations, and withdrawal services will end on December 23
The South Korean cryptocurrency exchange Aprobit will cease operations. As the deadline for virtual asset service provider (VASP) updates is approaching, many cryptocurrency trading platforms are closing down one after another. According to industry news, withdrawals from Aprobit can be made until 6 PM on December 23. Aprobit stated: "Due to changes in the business environment, we have decided to stop trading support. Even after trading support ends, we will do our best to ensure that all users can smoothly withdraw assets stored on the trading platform."
MicroStrategy is expected to join the Nasdaq 100 index on December 23
MicroStrategy is expected to join the Nasdaq 100 index on December 23, with an official announcement scheduled for this Friday (December 13). Bloomberg ETF analyst James Seyffart stated that the ETF tracking the Nasdaq 100 index is expected to purchase $2.1 billion worth of MicroStrategy stock, accounting for about 20% of the company's daily trading volume. ETF analyst Eric Balchunas mentioned that the company's weight in the Nasdaq 100 index could also reach 0.47%, making it the 40th largest holding in the index.
Seyffart stated that while joining the Nasdaq 100 index is imminent, joining the S&P 500 index will be more challenging for MicroStrategy due to its lack of profitability. However, upcoming changes in accounting rules related to Bitcoin valuation may qualify the company for inclusion in the S&P 500 index by 2025.
Project updates:
Aligned plans to airdrop ALIGN tokens to holders of multiple L2 tokens, with registration closing on December 23
The Aligned Foundation will allocate a significant portion of the total supply of ALIGN tokens to token holders of Mina, EigenLayer, and Ethereum zk L2, especially those who choose to continue holding during the market's lowest points. Registration will close on December 23, 2024. Specific eligibility requirements include that the wallet address must hold at least $50 worth of tokens at the historical lowest price of the following projects: Mina (MINA), Starknet (STRK), Polygon (POL), EigenLayer (EIGEN), ZKsync (ZK), Scroll (SCROLL), and Taiko (TKO). Previously, it was reported that Aligned would airdrop 26% of ALIGN to 891,322 addresses, with the airdrop targeting token holder addresses for STRK, ZK, and other seven tokens.
Governance voting:
BIO Protocol has initiated a new proposal voting on "Enable Transferability of BIO Tokens", which ends on December 23
The DeSci project BIO Protocol's new proposal "Enable Transferability of BIO Tokens" has opened for voting, with a voting period of 3 days (ending December 23). If this proposal passes, BIO will become a liquid asset within 14 days, with initial liquidity on the ETH mainnet, and will support more chains later.
Token unlock:
Metars Genesis (MRS) will unlock about 10 million tokens at 8 AM Beijing time on December 23, which is 11.87% of the current circulation, worth approximately $34.7 million
Karrat (KARRAT) will unlock about 11.25 million tokens at 8 AM Beijing time on December 23, which is 6.45% of the current circulation, worth approximately $4.4 million
Murasaki (MURA) will unlock about 20 million tokens at 8 AM Beijing time on December 23, which is 34.84% of the current circulation, worth approximately $12.2 million
Coin98 (C98) will unlock about 16.53 million tokens at 7 PM Beijing time on December 23, which is 1.88% of the current circulation, worth approximately $2.7 million
December 24
Project updates:
Pump Science roadmap update: announcing partnerships on December 24, and preparing for mouse experiments and protocol development
Pump Science released a roadmap update, which includes: announcing partnerships on December 24, preparing for mouse experiments and protocol development; launching mouse experiments for URO and RIF on January 25, 2025; starting new compounds in collaboration with VitaDAO on February 25; launching supplements pre-order and market platform on March 25; conducting decentralized human trials and initiating decentralized compound releases on April 25; and expanding related experiments on May 25.
BNB Chain will launch the second phase of the Meme Coin competition on December 24, with daily airdrops of Meme tokens worth 33 BNB
BNB Chain has announced that it will launch the second phase of the Meme Coin competition on December 24. The first phase lasted for 7 days, with 7 winning Meme Coin projects; among them, AICell, MONKEY, and FROG have already launched in Binance Alpha Zone. The second phase of the event will start on December 24, during which BNB Chain will purchase $33 worth of outstanding ecological Meme Coins daily for 7 consecutive days, and randomly airdrop corresponding Meme tokens to 1,000 eligible community users each day.
Token unlock:
MMX (MMX) will unlock about 1.67 million tokens at 8 AM Beijing time on December 24, which is 1.11% of the current circulation, worth approximately $1.8 million
December 25
Exchanges:
Binance will delist AKRO, BLZ, WRX on December 25
Binance announced that it will delist and stop all spot trading pairs related to AKRO, BLZ, WRX, including AKRO/USDT, BLZ/BTC, BLZ/USDT, and WRX/USDT, starting at 03:00 (UTC) on December 25, 2024.
Binance will support aelf (ELF) network upgrade on December 25
Binance has announced that it will suspend token deposits and withdrawals for aelf (ELF) network starting at 09:00 (UTC) on December 25, 2024, to support its network upgrade. This upgrade is expected to be completed at block height 248,832,789, around 10:00 (UTC) on December 25, 2024.
Token unlock:
Ethena (ENA) will unlock about 12.86 million tokens at 3 PM Beijing time on December 25, which is 0.44% of the current circulation, worth approximately $13.5 million
Eigenlayer (EIGEN) will unlock about 1.29 million tokens at 3 AM Beijing time on December 25, which is 0.61% of the current circulation, worth approximately $4.9 million
Venom (VENOM) will unlock about 33.76 million tokens at 8 AM Beijing time on December 25, which is 1.77% of the current circulation, worth approximately $2 million
Hooked Protocol (HOOK) will unlock about 4.17 million tokens at 8 AM Beijing time on December 25, which is 1.97% of the current circulation, worth approximately $1.7 million
December 26
Project updates:
The Sui ecosystem lending protocol Scallop has launched an airdrop event, with 1 million SCA tokens to be airdropped on December 26
The Sui ecosystem lending protocol Scallop will launch an airdrop event from December 14 to 26 during the Christmas season, where users only need to borrow at least $1,000 worth of assets/hold 1,000 veSCA to qualify for the airdrop. The total airdrop amount is 1 million SCA, with the airdrop distribution date on December 26. Currently, Scallop's TVL has reached a historical high of $195 million, with total loans amounting to $90 million.
Token unlock:
Cardano (ADA) will unlock about 18.53 million tokens at 8 AM Beijing time on December 26, which is 0.05% of the current circulation, worth approximately $16.6 million
December 27
Exchanges:
OKX will officially delist XRP and LTC futures contracts on December 27
According to an official announcement, OKX plans to gradually stop the generation of XRP and LTC coin-based and USDT-based futures contracts, and will officially delist XRP and LTC futures contracts at 4:00 PM (UTC+8) on December 27, 2024. This delisting will apply to the web, mobile, and API.
Binance contracts will launch the next season 0627 futures contracts on December 27
Binance contracts will launch the following U-based and coin-based next season 0627 futures contracts a few hours after the current U-based and coin-based 1227 futures contracts expire at 16:00 (UTC+8) on December 27, 2024. The U-based futures contracts include BTCUSDT and ETHUSDT, with a settlement asset of USDT, minimum price accuracy of 0.1 and 0.01, and a maximum leverage of 50x. The coin-based futures cover BTC, ETH, BNB, ADA, LINK, BCH, XRP, DOT, LTC, and SOL, with a settlement asset of their respective underlying assets, minimum price accuracy and maximum leverage varying by asset, with a maximum leverage of up to 50x.
Investors are focused on the Bitcoin options expiring on December 27
According to a previous Reuters report, investors are watching December 27, when $11.8 billion worth of Bitcoin options will expire, which could trigger significant price volatility in either direction. Nick Forster, founder of the decentralized options protocol Derive, pointed out that Bitcoin's volatility has remained stable over the past week, with an implied volatility of 63% for the next week and 55% for 30 days, "This tight consistency suggests that the market expects significant volatility soon." Bitcoin has currently pulled back from its highs, with one reason cited by market participants for the price drop being profit-taking.
December 28
Project updates:
Sophon mining migration timeline announced, mainnet mining will begin on December 28
The modular blockchain Sophon based on ZKsync announces a mining migration plan:
• December 19, 23:59 UTC: L1 mining closes for new deposits while opening an optional L1 withdrawal window.
• December 26, 23:59 UTC: L1 withdrawal window closes, unwithdrawn assets will automatically cross-chain to the Sophon mainnet.
• December 27: All remaining assets will complete automatic cross-chain transfer, and the first phase of SP point accumulation will end.
• December 28: Sophon mainnet mining officially begins, the second phase of SP point accumulation starts, adopting a USD-based distribution method and supporting gas-free mining.
December 29
None
Specific time to be determined
Macro market:
Macro outlook for next week: Christmas season or crisis-ridden, beware of liquidity shortages amplifying market volatility
Due to the upcoming Christmas holiday, the market will be relatively calm next week, although there are still some influential data. However, due to thin liquidity, market volatility may become significant. For the dollar, as the overall bias in the Fed is hawkish, it is expected that the dollar will not easily lose its throne earned this year, although low trading volumes during the holiday season may trigger some unnecessary fluctuations. Overall, if any market turmoil occurs during the holiday season, it is more likely to impact US stocks and US bonds. The Fed's hawkish stance has not been well received on Wall Street, and with US Treasury yields continuing to rise, selling pressure may intensify.
Project updates:
OpenAI: ChatGPT will launch an advanced voice mode next week
ChatGPT's search function has undergone a major update and is now gradually available to all free users. This update includes real-time search functionality, supporting minute-level access to the latest news, stock, and other dynamic content; a new advanced voice mode will be launched next week, allowing users to optimize multi-turn search experiences through more natural voice interactions; a new map feature has been added for mobile platforms, supporting viewing nearby places, route planning, and merchant information; optimizations for Android, iOS, and other platforms have improved search efficiency by over 40%.
Governance voting:
A new proposal from MANTRA will open mainnet voting next week: it plans to update OM token economics and reduce the on-chain inflation rate to 3%
Layer 1 blockchain MANTRA focused on RWA assets stated on platform X that the updated OM token economics proposal is now live, with Snapshot voting open, and mainnet voting will take place next week.
Although the proposal suggests adjusting the token issuance schedule, personal allocations obtained through various activities will remain unchanged. The specific details of the proposal include:
1. Adjust the vesting schedule for OM upgrade rewards, with the cliff period ending on March 18, 2025, followed by a linear vesting period that will last until October 16, 2028.
2. 10% of the initial allocation for the airdrop will unlock on March 18, 2025, followed by a 6-month cliff period until September 18, 2025. From that date, the remaining rewards will begin to vest linearly and continue until March 18, 2027. Additionally, a second stage of anti-witch checks for all wallets is proposed. After that, the vesting period for airdrop rewards will no longer be extended.
3. The cliff and vesting periods for team and core contributor incentives will be extended, with the cliff period ending on April 23, 2027, and the vesting period ending on October 22, 2029.
4. The cliff period for tokens of Pre-Seed round investors will end on October 23, 2025, with vesting concluding on October 23, 2027; the cliff period for Seed round investors will end on April 23, 2025, with vesting concluding on April 23, 2026.
5. Ecosystem allocation will remain unchanged, and the on-chain inflation rate will be reduced from 8% to 3% starting January 1, 2025.
