1. Attention Value-Market Key Points
1. Market conditions
(1) Macro environment:
l Dimon: The possibility of a "soft landing" of the US economy is low, and the stubbornness of inflation is worrying
JPMorgan Chase CEO Jamie Dimon expressed doubts about the prospect of a "soft landing" for the U.S. economy, believing that the possibility is low. He pointed out that although inflation has declined, it will not disappear easily due to factors such as fiscal deficit spending. Dimon said at an event on Friday that he is not optimistic about the economic outlook after the Fed's rate cut, and stressed that inflation may be more stubborn than investors expect.
He mentioned that the Federal Reserve recently lowered its benchmark interest rate by 50 basis points, but this will not have a significant impact on the presidential election. Dimon believes that regardless of the magnitude of the rate cut, this event will not be an "earth-shattering" change. He has repeatedly warned of the stubbornness of inflation over the past year and said JPMorgan was prepared for interest rate swings.
Dimon concluded that the future is likely to shift from low interest rates and low inflation to slightly higher interest rates and inflation, and although economists are accustomed to dealing with these situations, he has little hope for a "soft landing."
(2) Web3 field:
l South Korea’s Financial Services Commission supports the second phase of virtual asset legislation, focusing on service provider behavior and eligibility conditions
The Financial Services Commission of South Korea said it will actively support the second phase of virtual asset legislation, and pointed out that the policy direction of the United States will become an important reference. Kim Sung-jin, director of the Virtual Assets Section of the Financial Services Commission, said that a strategic approach is needed in the field of security tokens and central bank digital currencies (CBDCs) to speed up the discussion on the revision of relevant bills.
The South Korean authorities plan to focus on the business practices and qualifications of virtual asset service providers in the second phase of legislation. In addition, the South Korean National Assembly also believes that digital asset legislation is an urgent task, believing that digital assets are expected to create a new financial order and bring opportunities and challenges to the South Korean economy.
2. Hot events
Macro environment:
Microsoft and Star Energy reach 20-year agreement to promote nuclear energy renaissance to meet AI power needs
Microsoft and Star Energy have reached a 20-year agreement, marking a surge in the AI industry's interest in nuclear energy. According to the agreement, Star Energy will provide electricity for Microsoft's artificial intelligence data center and is expected to invest $1.6 billion to restart the Three Mile Island Nuclear Power Plant in Pennsylvania in 2028. The news caused Star Energy's stock price to rise by more than 17%, and pushed uranium mining and nuclear energy concept stocks to soar.
As AI's demand for electricity increases, technology companies are looking for clean energy, and nuclear energy has become a popular choice. Microsoft plans to use all clean energy for its data center network by 2025, and nuclear power plants are seen as an ideal source of electricity because of their stability and carbon neutrality.
The Three Mile Island nuclear power plant was shut down in 2019 and its restart is subject to regulatory review. Star Energy expects to complete the review in 2027 and may restart it earlier to cope with tight power supply.
Web3 Field:
Powerledger announces entry into Solana ecosystem to promote clean energy and sustainability
Australian energy technology company Powerledger has announced its entry into the Solana ecosystem in response to the growing interest in regenerative finance (ReFi). The integration will strengthen the clean energy and sustainability narrative within the blockchain space.
Powerledger plans to integrate its products with the Solana mainnet and stop operating its own Solana Virtual Machine (SVM) blockchain. The company said that Powerledger and Solana share a common vision for innovation, sustainability and transparency, values that have become increasingly important in the global transition to regenerative finance and sustainability.
Regenerative finance aims to create an economic system that goes beyond pure financial returns and focuses on restoring and improving social, environmental and economic well-being. According to Coingecko data, as of now, the total market value of regenerative finance is $110.57 million.
3. Hot topic narrative
OP_CAT is an opcode in Bitcoin Script designed to splice two pieces of data into a larger element. Although its function may seem simple, it can significantly improve the smart contract capabilities of the Bitcoin network, allowing developers to create and process more complex transaction logic. OP_CAT first existed in early versions of Bitcoin but was disabled due to security and complexity concerns. Today, with the development of the Bitcoin ecosystem, more and more developers believe that it is time to re-enable OP_CAT.
Since the beginning of this year, OP_CAT has gradually become the focus of the Bitcoin community, especially after the NFT project Taproot Wizards launched the Quantum Cat series of NFTs, OP_CAT's popularity has rapidly increased. In just a few months, protocols based on OP_CAT, such as the Fractal Bitcoin network, have been launched one after another, and the price of tokens has skyrocketed, attracting the attention of a large number of investors. The community's discussion on OP_CAT has also become more and more heated, and many Bitcoin developers believe that it may become the next key milestone in Bitcoin expansion and payment innovation.
The advantage of OP_CAT is that it significantly improves Bitcoin's smart contract capabilities, allowing developers to implement functions that are more complex or even impossible in current Bitcoin scripts. By optimizing the multi-signature process, state contracts and payment channel networks, OP_CAT shows great application potential in payment systems, especially in off-chain protocols and payment channel networks, thereby improving operational efficiency and reducing on-chain transaction burden. In addition, OP_CAT has received support from important figures in the Bitcoin field, such as Lightning Network white paper author Tadge Dryja and Blockstream Research Director Andrew Poelstra, which provides strong endorsement for its future development.
With the advancement of the BIP 347 proposal, OP_CAT is expected to bring new vitality to the Bitcoin network. First, in terms of technical implementation, the successful implementation and widespread adoption of OP_CAT will depend on the community's assessment of its security and usability. Second, market reaction will be a key factor. As projects based on OP_CAT go online, their market performance may affect investors' confidence in the Bitcoin ecosystem. In addition, the combination of OP_CAT with other technologies, such as zero-knowledge proof, may expand the application scenarios of Bitcoin, making it more competitive in terms of privacy protection and smart contracts.
4. Potential Catalyst
Cuy Sheffield, head of cryptocurrency at Visa, said at the Solana Breakpoint event in Singapore that stablecoins based on non-US dollar fiat currencies will grow in the next few years. He pointed out that while the US dollar performs well in cross-border transactions, stablecoins in local currencies are able to provide fast and efficient exchange services.
Sheffield added that in the future every major fiat currency will be represented on the blockchain, although currently US dollar stablecoins account for 99% of the market. He said it is exciting to see more stablecoins enter the market that are different from USDT or USDC.
2. Attention Value-Hot Projects
1. Social media hot spots
Ethereum is a decentralized, open-source public blockchain platform with smart contract functions. With the continuous development of Ethereum 2.0 and Layer2, it has become one of the most widely used blockchains. In July this year, the Ethereum spot ETF was officially approved for listing and trading. Although $ETH has fallen sharply in recent days due to reduced income and whale withdrawal, the market is still mainly optimistic due to its low inflation rate and strong development capabilities.
Key projects:
Pendle
Pendle is an innovative decentralized financial protocol that focuses on the fixed income and interest rate swap markets. Its core function is to allow users to tokenize and trade future earnings, a mechanism similar to coupon stripping in traditional finance. The project aims to split interest-bearing assets into independently tradable principal and earnings parts, thereby providing users with flexible income trading options. Recently, the project announced the official launch of the uniBTC (Corn) pool, including three types of YT, LP and PT. The pool will continue to operate until December 26. The current total locked value (TVL) is US$3.19 million, and the highest annualized rate of return (APY) is 132.9%.
2. Smart money builds a position
Smart money holdings
Source: ChainEDGE, Dot Labs
Project Introduction:
1. MIGGLES(@MrMigglesOnBase /X)
$MIGGLES (Mister Miggles) is a meme coin based on the Base ecosystem, derived from the cat theme. The token was launched in July 2024. Coinbase successfully attracted the attention of a large number of users and investors by releasing short videos and NFT activities related to Mister Miggles. The price soared more than 900 times in just three days after its launch, and its market value once exceeded US$73 million.
2. $michi(@michionsolana /X)
$michi is a cryptocurrency based on the Solana blockchain that aims to combine meme culture with a community-driven economic model. $michi's design is inspired by a cute cat image and aims to attract a wide range of user groups, especially fans of meme culture.
Smart money flows in
Source: ChainEDGE, Dot Labs
Project Introduction:
1. wBAI(@Balance_AI /X)
Balance AI is an open source protocol that powers a decentralized, blockchain-based machine learning network. Machine learning models are used collaboratively and are rewarded in $BAI based on the value they provide to the entire system.
2. JUP(@JupiterExchange /X)
Jupiter is a decentralized trading liquidity aggregator based on the Solana blockchain, aiming to provide users with the best trading experience and diversified financial services. The main function of the project is liquidity aggregation, allowing users to find the best trading path between multiple exchanges, thereby achieving more efficient asset exchange.
3. Attention Value-Sector Rotation
1. Hot topics
Source: Dune, Dot Labs
Source: Dune, Dot Labs
2. Inside the sector
Source: Dune, Dot Labs
