Crypto Daily 1209 | Has Bitcoin Reached Its Peak? New High for Pepe! Today is December 9, 2024, let's take a look at today's major events in the crypto market!

? Is Bitcoin approaching a 'potential peak'?

CryptoQuant analyst Maartunn stated on X that since November 8, long-term holders have sold approximately 827,783 BTC, with a total value of about $82.59 billion. In contrast, the amount bought by institutions such as MicroStrategy and ETFs is only 30% of this selling volume. The analyst pointed out that the seller risk ratio and net taker flow indicate that the price of Bitcoin may have reached a 'potential peak'.

Pepe Sets New All-Time High

According to OKX market data, Pepe's price reached a new all-time high early this morning, with its market cap jumping into the top 20 cryptocurrencies, surpassing Uniswap. Meanwhile, the long-silent DeSci sector has seen a rebound, with the URO token rising by 112% in three days. The DeFi space is also showing signs of recovery, with well-known project tokens like Uniswap, Sushi, and Aave all increasing in value over the past week, attracting market attention.

On-chain Meme Craze Returns

On-chain meme trading activity has surged significantly, with data showing nearly 7,000 new meme tokens added on Solana yesterday. The Al meme sector has also seen dark horses emerge, with the token $JAIL skyrocketing 2800 times since its launch early this morning, currently reaching a market cap of $18 million. Officials stated that the JailBreakMe project behind $JAIL is an open-source decentralized application that allows organizations to test AI model vulnerabilities, and users can receive rewards for discovering bugs or performing jailbreaks.

Amazon May Establish Bitcoin Reserves

Media reports indicate that some Amazon shareholders have suggested that the company establish Bitcoin asset reserves, proposing that at least 5% of total assets be allocated for Bitcoin investment.