Key points
The total market capitalization of cryptocurrencies is $3.42 trillion, up from $3.4 trillion last week, with a weekly increase of 0.5%. As of December 30, 2024, the cumulative net inflow of Bitcoin spot ETFs in the U.S. is approximately $35.66 billion, with a net outflow of $388 million this week; the cumulative net inflow of Ethereum spot ETFs is approximately $2.68 billion, with a net inflow of $350 million this week.
The total market capitalization of stablecoins is $211 billion, accounting for 6.17% of the total cryptocurrency market capitalization, with a weekly increase of 0.47%. Among them, the market capitalization of USDT is $138.7 billion, accounting for 65.7% of the total stablecoin market capitalization; followed by USDC with a market capitalization of $43.6 billion, accounting for 20.7% of the total stablecoin market capitalization; and DAI with a market capitalization of $5.4 billion, accounting for 2.6% of the total stablecoin market capitalization.
This week, the total TVL of DeFi is $121.5 billion, with a weekly increase of 2.2%. By public chain classification, the top three public chains with the highest TVL are Ethereum, accounting for 56%; Solana, accounting for 7.01%; and Tron, accounting for 6%. The overall proportion remains stable, with Ethereum still the leader in the DeFi space.
From on-chain data, this week among Layer 1 public chains, BNB and SUI experienced significant fluctuations in daily transaction volume, both increasing by over 50% compared to last week. In terms of transaction fees, the overall fluctuation is small, with ETH fees showing a downward trend, decreasing by 33.3% compared to last week. In terms of daily active addresses, SOL active addresses have warmed up, increasing by 10.9% compared to last week; this week, the total TVL of Ethereum Layer 2 reached $46.99 billion, with a weekly increase of 2.4%. Among them, Arbitrum One and Optimism occupy the top positions with market shares of 39.09% and 24.31%, respectively, but both have seen slight declines.
Innovative project focus: DeTrading: DeTrading is a trustless cross-chain platform for atomic swaps between all chains; stMOVE: The first liquid staking solution for the Movement Network. Earn stMOVE protocol rewards through secure, transparent, hassle-free non-custodial Liquid staking services; Resupply: A decentralized stablecoin protocol, Resupply allows users to borrow stablecoins through Curve Lend or Fraxlend and re-mortgage for mining.
Table of contents
Key points
1. Market overview
1. Total cryptocurrency market capitalization / Bitcoin market capitalization ratio
2. Fear index
3. ETF inflow and outflow data
4. ETH/BTC and ETH/USD exchange rates
5. Decentralized Finance (DeFi)
6. On-chain data
7. Stablecoin market capitalization and issuance
2. This week's hot money trends
1. The top five VC coins and Meme coins by increase this week
2. New project insights
3. New industry dynamics
1. Major industry events this week
2. Major events coming up next week
3. Important financing events from last week
1. Market overview
1. Total cryptocurrency market capitalization / Bitcoin market capitalization ratio
The total market capitalization of cryptocurrencies is $3.42 trillion, up from $3.4 trillion last week, with a weekly increase of 0.5%.
Data source: cryptorank
As of the time of publication, Bitcoin (BTC) has a market capitalization of $1.85 trillion, accounting for 54.14% of the total cryptocurrency market capitalization. Meanwhile, the market capitalization of stablecoins is $211 billion, making up 6.17% of the total cryptocurrency market capitalization.
Data source: coingeck
2. Fear index
The cryptocurrency fear index is 65, indicating greed.
Data source: coinglass
3. ETF inflow and outflow data
As of December 30, 2024, the cumulative net inflow of Bitcoin spot ETFs in the U.S. is approximately $35.66 billion, with a net outflow of $388 million this week; the cumulative net inflow of Ethereum spot ETFs is approximately $2.68 billion, with a net inflow of $350 million this week.
Data source: sosovalue
4. ETH/BTC and ETH/USD exchange rates
ETHUSD: current price $3,422, historical high $4,878, approximately 30.69% drop from the highest price
ETHBTC: currently 0.036536, historical high 0.1238
Data source: ratiogang
5. Decentralized Finance (DeFi)
According to DeFiLlama data, the total TVL of DeFi this week is $121.5 billion, with a weekly increase of 2.2%.
Data source: defillama
By public chain classification, the top three public chains with the highest TVL are Ethereum, accounting for 56%; Solana, accounting for 7.01%; and Tron, accounting for 6%. The overall proportion remains stable, with Ethereum still the leader in the DeFi space.
Data source: CoinW Research Institute, defillama
Data as of December 30, 2024
6. On-chain data
Layer 1 related data
Mainly analyzing current Layer 1 data including ETH, SOL, BNB, TON, SUI, and APT from daily trading volume, daily active addresses, and transaction fees.
Data source: CoinW Research Institute, defillama, Nansen
Data as of December 30, 2024
Daily transaction volume and transaction fees: Transaction volume and fees are core indicators of public chain activity and user experience. This week, BNB and SUI experienced significant fluctuations in daily transaction volume, both increasing by over 50%. In transaction fees, the overall fluctuation is small, with ETH fees showing a downward trend, decreasing by 33.3% compared to last week.
Daily active addresses and TVL: Daily active addresses reflect the ecological participation and user stickiness of public chains, while TVL reflects user trust in the platform. In terms of daily active addresses, SOL active addresses have warmed up, increasing by 10.9% compared to last week. In terms of TVL, ETH remains a leader among public chains.
Layer 2 related data
According to L2 Beat data, the total TVL of Ethereum Layer 2 reached $46.99 billion, with an overall weekly increase of 2.4%.
Data source: L2 Beat
Data as of December 30, 2024
Arbitrum One and Optimism occupy the top positions with market shares of 39.09% and 24.31%, respectively, but both have seen slight declines.
Data source: footprint
Data as of December 30, 2024
7. Stablecoin market capitalization and issuance
According to Coinglass data, the total market capitalization of stablecoins is currently $211 billion, setting a new historical high, with a weekly increase of 0.47%. Among them, USDT has a market capitalization of $138.7 billion, accounting for 65.7% of the total stablecoin market capitalization; USDC has a market capitalization of $43.6 billion, accounting for 20.7%; and DAI has a market capitalization of $5.4 billion, accounting for 2.6%.
Data source: CoinW Research Institute, Coinglass
Data as of December 30, 2024
According to Whale Alert data, a total of 550 million USDC has been issued this week, an increase of 175% compared to last week's stablecoin issuance.
Data source: Whale Alert
Data as of December 30, 2024
2. This week's hot money trends
1. The top five VC coins and Meme coins by increase this week
The top five VC coins by increase in the past week
Data source: CoinW Research Institute, coinmarketcap
Data as of December 30, 2024
The top five Meme coins by increase in the past week
Data source: CoinW Research Institute, coinmarketcap
Data as of December 30, 2024
2. New project insights
DeTrading: DeTrading is a trustless cross-chain platform for atomic swaps between all chains.
stMOVE: The first liquid staking solution for the Movement Network. Earn stMOVE protocol rewards through secure, transparent, hassle-free non-custodial Liquid staking services.
Resupply: A decentralized stablecoin protocol, Resupply allows users to borrow stablecoins through Curve Lend or Fraxlend and re-mortgage for mining.
3. New industry dynamics
1. Major industry events this week
Network 3 launches Pre-TGE airdrop activities; early node users can gain airdrop eligibility by binding their wallets. The airdrop activity has opened the wallet binding function, and new users and early node users need to complete wallet binding before TGE to ensure subsequent eligibility for claiming airdrops. The airdrop amount is 50 million N3 tokens, which can be obtained by downloading nodes, binding wallets, running nodes for mining, completing task activities, and inviting new users for bonus rewards. Additionally, according to Network 3 team news, Network 3 plans to launch on exchanges in January next year.
Eliza will announce new tokenomics proposals around January 1; according to Eliza team members during community discussions, the project intends to release two important announcements. First, the project will officially disclose all partner lists to enhance transparency and help the community better understand the various cooperative relationships and their specific scopes. Regarding tokenomics, the team will unveil a new tokenomics proposal around January 1, designed by professionals from multiple teams, including LP pairing mechanisms and DeFi functionality integration. Additionally, the project has revealed that they have acquired a Launchpad company for future official releases.
REVOX announces the end of S 1 airdrop and launches Stake to AI token economy. AI Agent infrastructure REVOX announces the end of S 1 airdrop, with the total number of claiming wallets exceeding 9 million, of which over 1.22 million users passed Human Verification. According to the white paper, REVOX plans to launch the Stake to AI token economy. Users can stake REX tokens for sREX tokens to earn AI points, which can be used to pay for AI services within the REVOX ecosystem. Additionally, sREX holders can participate in early projects within the REVOX ecosystem and have the opportunity to receive future airdrops based on their participation level and token holdings.
Listed company KULR buys 217.18 Bitcoins at an average price of $96,556. The U.S. publicly listed company KULR has initiated its Bitcoin reserve strategy, purchasing 217.18 Bitcoins for $21 million, with an average price of $96,556 per Bitcoin. Custodianship and wallet management are conducted through the Coinbase Prime platform, and KULR will allocate up to 90% of its surplus cash to Bitcoin.
Trump's administration creates ideal conditions for DeFi, with new policies allowing more protocols to distribute dividends to token holders. ETHDenver founder John Paller stated in an interview that Trump's focus on deregulation and promoting economic growth could create ideal conditions for the flourishing of DeFi.
2. Major events coming up next week
Ethereum liquidity restaking platform Kelp DAO's first airdrop season (10% of total supply for airdrop) snapshot date is December 31, 2024.
Solana ecosystem real estate trading protocol Parcl's airdrop token PRCL claim deadline is December 31.
The restaking protocol Swell Network's Swellchain will allocate 1.25 million SWELL to users who cross-chain and hold assets on Swellchain within the first two weeks; users must complete cross-chain by December 31 to receive shares.
Ethereum liquidity restaking platform Kelp DAO's second airdrop season (5% of total supply for airdrop) will run from January 1, 2025, to April 30, 2025; those who restake before January 15, 2025, can earn an additional 15% loyalty reward; the remaining 5% of the airdrop plan is pending.
ZK Nation's second wave of ZK token claims has a deadline of January 3, 2025; members of the Protocol Guild, contributors to external projects, or users nominated by ZKsync native ecosystem projects can check for claims.
3. Important financing events from last week
Usual, Series A, financing amount $10 million, investors include Binance Labs, Kraken Ventures, Galaxy Digital, OKX Ventures, IOSG Ventures, Wintermute, Amber Group, GSR, etc. Usual is a stablecoin protocol, its launched USD is a permissionless and fully compliant stablecoin backed 1:1 by real-world assets (RWA). USUAL is a governance token allowing the community to guide the future development of the network. Usual addresses current stablecoin market issues by reallocating profits to the community and rewarding token holders with actual earnings generated from RWA. (December 23)
Avalon Labs, Series A, financing amount $10 million, investors include Framework Ventures, Kenetic Capital, SNZ Holding, etc. Avalon Finance is a BTCFi protocol that allows users to use their held Bitcoin as collateral to obtain USDa, thereby unlocking the value they hold and increasing the utilization of Bitcoin on their platform. Avalon Labs also offers financial products such as Bitcoin-backed loans, interest-bearing savings accounts, and credit cards. (December 23)
ChainOpera, seed round, financing amount $17 million, investors include Finality Capital Partners, IDG Capital, Road Capital, etc. ChainOpera AI is a truly decentralized and open AI platform dedicated to achieving a simple, scalable, and trustworthy collaborative AI economy, and an accessible, democratized AI application ecosystem. (December 26)
