Today's News Highlights:
Bitcoin billionaire's 30th-ranked address transfers 11,999 BTC, approximately $1.19 billion
BGB breaks $6.2, continues to set new historical highs
A HyperLiquid whale faces a massive unrealized loss of about $12 million on multiple open positions
Pantera Capital CEO predicts Bitcoin bull market cycle will peak in August 2025
Vitalik adopts Thai internet celebrity hippo Moo Deng and donates approximately $290,000 to its zoo
BonkDAO plans to burn 16.9 trillion BONK, valued at approximately $54.52 million
PENGU's market cap surpasses $2.6 billion, becoming the top-ranked meme coin on the Solana chain
Animoca Brands: No official tokens or NFTs have been released
Regulation/Macro
Japanese government responds to questions about Bitcoin reserves, indicating a cautious stance
According to Coinpost, the Japanese government recently responded to Senate member Akira Hamada's inquiry about understanding the dynamics of Bitcoin reserves promoted by the U.S. and other countries. The response was issued in the name of Prime Minister Shigeru Ishiba, clarifying the government's position on using crypto assets as reserves. The Japanese government stated that it is currently unaware of these countries' Bitcoin reserve plans, as they are still in the discussion phase, making it "difficult for the government to take a stance." Additionally, under the legal framework, crypto assets do not fall under the category of foreign exchange, and foreign exchange reserves aim to stabilize foreign currency assets and bond markets. The response emphasized that the primary goal of foreign exchange reserve management is to ensure safety and liquidity, acknowledging that the volatility of crypto assets (such as Bitcoin) does not align with the current system. Ishiba's response indicates that as discussions about incorporating crypto assets into national reserve strategies progress both domestically and internationally, the Japanese government remains cautious.
According to Blockworks, starting next year, the U.S. Securities and Exchange Commission (SEC) will temporarily reduce the size of its commissioner team while awaiting Senate approval of President Donald Trump's nomination. During this period, only Republican commissioners Hester Peirce and Mark Uyeda will continue to serve after taking office. Peirce revealed that with the departure of SEC Chair Gary Gensler, the agency's stance on the crypto industry will undergo significant changes. At a Blockchain Association policy summit earlier this month, Peirce stated, "We have strong tools and have always leaned towards enforcement. I think when you see the changes in the new commission members and their composition, the types of cases may also change." Uyeda pointed out that due to the nature of federal agencies, most policy discussions occur in closed-door meetings, explaining, "The Administrative Procedure Act allows the public to comment on regulations, ensuring transparency." However, when SEC staff guidance conflicts with SEC rules (as in the SAB 121 case), the public has not had the opportunity to comment. In the SAB 121 case, both houses of Congress attempted to overturn the policy requiring digital asset custodians to report liabilities and "corresponding assets," but President Biden ultimately vetoed the resolution. Uyeda hopes the SEC can increase opportunities for public comment. Peirce emphasized that the SEC has come a long way on this path, and changing it is not easy. She directly told the crypto industry, "It will take a lot of hard work from both us and you to get back on track, but I believe we can do it."
Multiple crypto trading firms report a surge in OTC trading volume in recent months
According to The Block, several crypto trading firms have recently reported a rapid increase in over-the-counter (OTC) trading volume in recent months, with election results being a significant driving force. Tim Ogilvie, head of institutional business at Kraken, stated, "OTC trading is currently exceptionally active, with volumes surging alongside price increases." He revealed that Kraken's OTC trading volume has increased by 220% year-on-year, with other trading firms reporting similar growth. Jake Ostrovskis, an OTC trader at market maker Wintermute, noted that the market was relatively calm mid-year, but as the election approached and prices rose, market participants began actively preparing for the election results. He mentioned that Wintermute's discussions with some clients have been ongoing for years, and the election results became the catalyst for initiating trades. Similarly, Embert Lin, a trader at market maker GSR, stated that the company's trading volume has significantly increased since the election. With the rise in prices of Bitcoin, Ethereum, and altcoins, projects and investors have become more proactive in managing funds and risks at these price levels while also seeking new opportunities to engage with crypto assets beyond BTC and ETH. A trader from an OTC trading firm privately revealed that recent trading volumes have easily reached levels seen during the peak of the cryptocurrency market in 2021. Additionally, Brett Reeves, head of the Go Network at crypto custody firm BitGo, pointed out that the election results are the main driver of the recent surge in trading volume, with two-thirds of the trading volume generated in the three months following the election results.
Hashgraph Group obtains fund management license in Abu Dhabi, set to launch a $100 million Web3 fund
According to Bitcoin.com, Switzerland-based Hashgraph Group has obtained a fund management license from the Abu Dhabi Global Market (ADGM). The license granted to Hashgraph Ventures Manager, a subsidiary of Hashgraph Group, allows it to launch a $100 million Web3 venture capital fund from the ADGM. Hashgraph Group will contribute $20 million, or 20% of the fund, as seed capital. The fund will focus on investing in startups and established companies within the Hedera ecosystem. Stefan Deiss, co-founder and CEO of Hashgraph Group, stated that the fund has received broad support and attention from co-investors, including government agencies, sovereign wealth funds, venture capital funds, family offices, and other qualified investors; the group will focus on investing in companies utilizing the Hedera network and promoting collaboration among Web3 companies. The fund will prioritize strategic investments in Web3 and deep tech sectors (developing solutions in artificial intelligence (AI), blockchain, robotics, and quantum computing). Eligible projects will have the opportunity to participate in the Hashgraph Association's startup studio program.
Project Updates
Vitalik adopts Thai internet celebrity hippo Moo Deng and donates approximately $290,000 to its zoo
The administrator of Moo Deng at Khao Kheow Zoo in Thailand stated on the X platform: "Thank you to Ethereum co-founder Vitalik Buterin for joining the wildlife sponsorship program and generously donating 10 million Thai Baht (approximately $290,000) to support Moo Deng's family. We look forward to working together over the next two years to bring welfare to the Khao Kheow Zoo community and all visitors." According to a letter shared by Vitalik, he wrote: "I am pleased to accept your invitation to become Moo Deng's adoptive father and to donate no less than 10 million Thai Baht to the zoo in her name. The funds will be donated in two installments of 5,000,000 Thai Baht each. The first donation will be made on December 26, 2024, and the date of the second donation, along with any additional amounts, will be notified later, but no later than one year after December 26, 2024."
PENGU's market cap surpasses $2.6 billion, becoming the top-ranked meme coin on the Solana chain
According to Coingecko, PENGU's market cap has surpassed $2.6 billion (currently approximately $2.625 billion), overtaking BONK ($2.443 billion) to become the top-ranked meme coin on the Solana blockchain.
BonkDAO plans to burn 16.9 trillion BONK, valued at approximately $54.52 million
According to official news, BonkDAO plans to burn 16.9 trillion BONK, valued at approximately $54.52 million, as part of the community holiday event "BURNmas," aimed at increasing the scarcity of BONK. The upcoming burn will account for nearly 1.8% of the total supply of BONK (approximately 92.7 trillion). The official stated that the tokens will be burned through a multi-signature vote by BonkDAO.
According to on-chain analyst @ai_9684xtpa, the remaining 10% of addresses that have not received METAV for the first public presale project of AI-Pool seem to have completed receipt 8 hours ago. A total of 71 addresses contributed over 10 SOL, with a cumulative donation of 958 SOL (approximately $190,000), where the top 3 accounts accounted for 82% of the excess funds. The top funding address HRu6k…eoFCw received tokens 8 hours ago and has already sold 109,600 tokens at $0.03218, incurring a total loss of 556 SOL.
Animoca Brands: No official tokens or NFTs have been released
Animoca Brands stated on the X platform: "The X account of co-founder and executive chairman Yat Siu has been hacked, and Animoca Brands has not released any official tokens or NFTs. A post claiming that tokens were released on Solana was made by the hacker. Please do not interact with that account and remain vigilant. We will provide updates once the account is restored."
Pump Science: Tokenomics design completed, BIO airdrop event to be held
Pump Science announced on the X platform that the tokenomics design has been completed, and a BIO airdrop event will be held. Regarding the tokenomics design: 5% of the future token supply will be allocated to holders of previous tokens (during migration), and those holding more PS tokens (RIF, URO) will receive new tokens in the future; this mechanism will continue as long as new issuances occur (forever). Regarding the BIO airdrop event, BIO Protocol will airdrop BIO to holders of URO and RIF, awaiting governance approval to connect BIO to Solana, with more airdrops being considered. Additionally, Pump Science reminds that only tokens in non-custodial wallets will be counted for the airdrop. According to the simplified white paper of Pump Science's tokenomics, its key elements are as follows: ① Custom bonding curve: Each token issuance starts with a custom bonding curve, using the same parameters as those on pump.fun. The bonding curve ensures that tokens start with an initial market value of approximately $5,000. As liquidity increases, the price rises along the bonding curve, and when liquidity reaches 85 SOL, it will migrate to the automated market maker Meteora. ② Liquidity migration: When liquidity reaches 85 SOL: 82 SOL will migrate to Meteora's constant product liquidity pool (LP); 3 SOL will be allocated to the first research experiment to ensure immediate funding impact. ③ Anti-bot measures: To prevent bots from seizing early token supplies without relying on whitelists or secondary token purchases, the trading fees on the bonding curve are set extremely high at the start. These fees will decrease over time, providing users with a fair opportunity to compete with bots and acquire tokens at reasonable prices. ④ Token issuance: A total of 800 million tokens will be issued along the bonding curve; when migrating to the liquidity pool, 150 million tokens and 82 SOL will be transferred to the liquidity pool; approximately 50 million tokens will be proportionally airdropped to holders of previously issued pump.science tokens (URO, RIF, etc.), with the airdrop allocation based on the time-weighted average value held by each wallet during a specified period. ⑤ Airdrop mechanism: Holders of previously issued pump.science tokens will receive airdrops of future token issuances. The relative value of each wallet's holdings determines the allocation, incentivizing long-term participation in token issuance for future airdrop allocations. ⑥ Funding research through liquidity pool fees: Research funding comes from liquidity pool fees generated by trading activities; the migrated liquidity is locked in the Meteora pool, but liquidity pool tokens will not be destroyed; the claim to liquidity pool tokens is granted to pump.science, allowing the platform to use liquidity pool fees to fund research.
Opinions
Pantera Capital CEO predicts Bitcoin bull market cycle will peak in August 2025
According to Cryptodnes, Pantera Capital CEO Dan Morehead predicts that the next bull market cycle in the cryptocurrency market will peak in 2025. In the Bankless podcast, he elaborated on the basis for this prediction: Bitcoin follows a four-year halving cycle, where miner rewards are halved, leading to a reduction in supply, and historically, these events have seen significant price increases for Bitcoin before and after. The last halving occurred in April 2024, and Morehead predicts that Bitcoin will reach its cycle peak in August 2025 based on historical trends. He emphasized that despite the current market conditions being relatively mild, the upcoming upward trend is still worth looking forward to. Morehead stated, "The outlook for 2025 is very optimistic, not only because of the halving event but also because political and macroeconomic factors align with the development of cryptocurrencies." He predicts a peak price of $117,000 for Bitcoin, which is 18% higher than the current price. He further noted that historical data shows the effects of halving events typically begin to manifest 400 days prior, with peaks occurring about 480 days later. Reflecting on 2022, when Bitcoin traded at $17,000, Pantera Capital accurately predicted it would reach $28,000 before the halving event. Now, Morehead is confident in his prediction of Bitcoin reaching $117,000 in August 2025.
Important Data
According to iChainfo monitoring, 2 hours ago, the address ranked 30th on the Bitcoin billionaire list (starting with 3DR2iG) transferred 11,999 BTC (approximately $1.19 billion), and this address still holds 15,357 BTC (approximately $151 million).
An address that purchased GAME and CONVO for $8,600 two months ago is now worth over $29 million
According to Lokonchain monitoring, over two months ago, an address spent $8,600 to purchase GAME and CONVO, transferred them to a new wallet, and forgot about them after setting it up. Now, these GAME and CONVO are worth over $29 million.
BGB breaks $6.2, continues to set new historical highs
According to Bitget market data, BGB has broken $6.2, rising 24.53% in 24 hours, continuing to set new historical highs.
Binance's Bitcoin reserves have fallen below 570,000 BTC, the lowest level since January
According to Cointelegraph, CryptoQuant contributor Darkfost noted in a December 25 analysis report that Binance's Bitcoin price recently dropped to $98,990, with reserves falling below 570,000 BTC, the lowest level since January this year. This change typically indicates that investors are actively transferring Bitcoin to cold wallets, showing optimism about long-term price prospects. Looking back to the beginning of this year, Binance's Bitcoin reserves also dropped to similar levels in January, and subsequently, within two months, Bitcoin's price soared to an all-time high of $73,679 on March 13. Darkfost emphasized, "The emergence of a withdrawal wave is often a signal that positive momentum is forming in the market."
A HyperLiquid whale faces a massive unrealized loss of about $12 million on multiple open positions
According to OnchainLens monitoring, a HyperLiquid whale faces a massive unrealized loss of about $12 million on multiple open positions. Here are some details of the largest losses: ① XRP: -$4.45 million; ② SUI: -$3.86 million; ③ SOL: -$892,000 (long position); ④ ENA: -$785,000; ⑤ CRV: -$675,000; ⑥ ADA: -$644,000; ⑦ DGE: -$537,000. The whale primarily opened short positions rather than long positions, and while some are profitable, these profits are not enough to offset the losses.
Huang Licheng transferred 250,000 CREAM to Binance 3 hours ago, approximately $4.05 million
According to on-chain analyst Yu Jin monitoring, Taiwanese singer Huang Licheng (machi big brother) transferred 250,000 CREAM (approximately $4.05 million) to Binance 3 hours ago. Huang Licheng redeemed 498,000 CREAM from staking 3 months ago and has since transferred 349,000 CREAM (worth $5.8 million) to Binance, which is 12% of the total supply of CREAM (2.92 million).
According to Spot On Chain monitoring, a whale from the Ethereum ICO deposited 4,160 ETH (approximately $14.5 million) into Kraken 3 hours ago. Notably, this whale acquired 20,000 ETH in the genesis block in July 2015 (then worth $62,000), staked it for rewards, and frequently sold during peaks. The whale still has approximately 7,043 ETH (about $2.46 million) staked.
Token Terminal data shows that the monthly trading volume of BTC and SOL has reached new historical highs, while ETH has decreased by about 50% compared to its peak in 2021. In November 2024, the trading volumes of BTC, ETH, and SOL were $2.2 trillion, $1.1 trillion, and $243 billion, respectively.
According to The Block, Runes' trading share on the Bitcoin network has fallen to a new low, accounting for only 1.67% of daily trading volume, in stark contrast to its dominant position from April to November, when Runes typically accounted for over 50% of Bitcoin's daily trading volume. Meanwhile, Runes' daily trading fees have remained below $250,000, indicating a significant reduction in network activity. This change aligns with broader market dynamics and shifts in investor interest. As Bitcoin's price fluctuates, attention has begun to shift away from high-risk experimental protocols based on Bitcoin, such as Runes and Ordinals. At the same time, other cryptocurrency sectors, including AI agents, meme coins, and Ethereum NFTs, have gradually captured market share, potentially leading to a waning interest in Bitcoin-based token protocols. Data suggests that the Runes ecosystem may be experiencing a cooling off. Its network share has sharply declined from over 50% to below 10%, marking a significant change in Bitcoin network usage patterns. This trend may reflect a shift in market speculative interest, with investors turning their attention to other cryptocurrency sectors.
According to Cryptoslate, based on CryptoQuant data, the demand for Bitcoin accumulation addresses significantly increased during December, with these investors net adding 225,280 BTC as of December 23, representing a monthly increase of 82.6%. Meanwhile, total selling liquidity (the amount of Bitcoin available for sale) on exchanges and ETFs decreased by approximately 590,000 BTC. Notably, the alleviation of this selling pressure is closely related to a sharp reduction of 520,000 BTC in the number of Bitcoins prepared for sale between December 22 and 23. The report also noted that the supply of Bitcoin on OTC desks handling large transactions has decreased from 421,000 to 403,000 BTC, indicating that investor demand is effectively absorbing selling pressure. Additionally, the liquidity inventory ratio has dropped from 12 months in December to 5.5 months, further demonstrating that the current supply is meeting investor demand at an accelerated pace. CryptoQuant data also revealed that as of December 23, "whale" addresses holding over 1,000 BTC sold nearly 8,600 BTC this month. However, this supply pressure was absorbed by new investors, with the number of short-term holders increasing by 3% over the past week. Over the past year, short-term holders have accumulated 641,789 BTC, bringing the total holdings to 3.81 million BTC, just 70,000 BTC below the historical peak of December 15. Despite Bitcoin's 14.2% pullback since reaching an all-time high of $108,000 on December 17, it still aligns with analysts' predictions that it will continue to rise after a period of calm. However, CryptoQuant community analyst Onatt cautioned investors to remain vigilant, as the supply of USDT on exchanges is decreasing while Bitcoin supply is slightly increasing. This trend may not indicate a long-term bearish phase, but it does suggest the possibility of further downside risk in the coming days.
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