Weekly Preview | Approximately $23 billion in Bitcoin options will expire on December 26; Aster launches the fifth phase of its airdrop event.

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Key News Preview:

  • Aster will launch the fifth phase of its airdrop on December 22, distributing 1.2% of the total supply;
  • MetaPlanet will hold an extraordinary general meeting on December 22 to discuss important proposals regarding future preferred stock issuance;
  • The U.S. Bureau of Economic Analysis will release third-quarter GDP data on December 23;
  • Due to the U.S. Christmas holiday, the U.S. stock market will be closed on December 25 (Wednesday);
  • Plasma (XPL) will unlock approximately 88.89 million tokens at 8 PM Beijing time on December 25, with a circulation ratio of 4.5%, valued at about $11.7 million;
  • Approximately $23 billion in Bitcoin options will expire on December 26, potentially exacerbating already high volatility.

December 22

Project Updates:

Binance Wallet will launch the Bitway (BTW) Pre-TGE and airdrop incentive program on December 22

According to Binance Wallet, Bitway ($BTW) will launch the Pre-TGE subscription and Booster Program airdrop on December 22, with a total of 300 million BTW (3% of total supply) allocated for multi-phase task rewards. Participants must hold Binance Alpha points, and the reward portion will have a lock-up period. The Pre-TGE phase allows users to subscribe to BTW using BNB, with a limit of 3 BNB per user; tokens cannot be traded immediately, and specific release and unlock times will be announced by the project team.

Aster will launch the fifth phase of its airdrop on December 22, distributing 1.2% of the total supply

Aster announced on platform X that on December 22, it will enter the fifth phase of its airdrop, named "Crystal," marking the lowest emission airdrop to date. This phase will last for 6 weeks (from December 22, 2025, to February 1, 2026), with a distribution ratio of 1.2% of the total supply (approximately 96 million ASTER), and an optional 3-month vesting period.

MetaPlanet will hold an extraordinary general meeting on December 22 to review the preferred stock issuance proposal

Simon Gerovich, a director of the Japanese listed company MetaPlanet, announced that MetaPlanet will hold an extraordinary general meeting on December 22, 2025 (Monday) to discuss important proposals regarding future preferred stock issuance, which will have a key impact on the company's medium- to long-term strategy. Shareholders can exercise their voting rights through an online platform, with the deadline for voting set for December 19 (Friday) at 6:00 PM (Japan time).

Espresso will open airdrop registration on December 22, covering millions of addresses

The blockchain infrastructure Espresso will open airdrop registration on December 22, covering millions of addresses. So far, the official has released 22 airdrop qualification paths, including participants of the Espresso hackathon, Caffeinated creators, POAP holders from online and offline events, and users from partner chains (ApeChain, RARI Chain, Arbitrum, Celo, etc.).

Additionally, the official will launch the second round of the Bantr activity. Bantr will continue to track the attention and on-chain activities related to Espresso in English, Korean, and Chinese rankings, with a particular focus on the period after December 1. The top 100 participants across the three major rankings will share a mysterious ESP token allocation, which can be claimed after the TGE (the claim portal launch date has not yet been announced).

Token Unlocks:

MBG By Multibank Group (MBG) will unlock approximately 15.84 million tokens at 8 PM Beijing time on December 22, with a circulation ratio of 8.42%, valued at about $8.1 million.

December 23

Macroeconomics:

The U.S. Bureau of Economic Analysis will release third-quarter GDP data on December 23

According to Jinshi News, the U.S. Bureau of Economic Analysis will release the third-quarter GDP data on December 23.

Exchanges:

Binance will remove several leveraged trading pairs including DOT/FDUSD and ENA/FDUSD on December 23

According to the official announcement, Binance will remove the following leveraged trading pairs at 2:00 PM (UTC+8) on December 23, 2025:

Full margin trading pairs: DOT/FDUSD, ENA/FDUSD, SEI/FDUSD, FIL/FDUSD, BONK/FDUSD, ZK/FDUSD, ETC/FDUSD, WLD/FDUSD, OP/FDUSD, NEAR/FDUSD, WIF/FDUSD, APT/FDUSD, DYDX/FDUSD, TIA/FDUSD, UNI/FDUSD

Isolated margin trading pairs: DOT/FDUSD, ENA/FDUSD, SEI/FDUSD, FIL/FDUSD, BONK/FDUSD, ZK/FDUSD, ETC/FDUSD, WLD/FDUSD, OP/FDUSD, NEAR/FDUSD, WIF/FDUSD, DYDX/FDUSD, TIA/FDUSD

Token Unlocks:

SOON (SOON) will unlock approximately 21.88 million tokens at 4:30 PM Beijing time on December 23, with a circulation ratio of 5.97%, valued at about $8 million.

Undeads Games (UDS) will unlock approximately 2.15 million tokens at 8 AM Beijing time on December 23, with a circulation ratio of 1.46%, valued at about $5.2 million.

December 24

Exchanges:

The U.S. stock market will open as scheduled on December 24 and 26

December 25 (Wednesday) is the U.S. Christmas holiday, and the U.S. stock market will be closed for one day. The Nasdaq and the New York Stock Exchange have stated that the U.S. stock market will open as scheduled on December 24 and December 26. Prior to this, Trump signed an executive order announcing that the federal government would be closed on December 24 and 26, around Christmas.

December 25

Project Updates:

Irys: The claim period for the IRYS token airdrop will end on December 25

The programmable data chain Irys announced on platform X that the claim link for the IRYS token airdrop is now live, with the claim period from 8:00 PM Beijing time on November 25 to 8:00 PM on December 25, with the snapshot taken on November 11. Additionally, Irys stated that the top 10,000 participants on Galxe will receive the airdrop; all Genesis NFT holders who completed airdrop registration previously will also qualify for the airdrop.

The decentralized AI computing protocol gensyn will announce token distribution details on December 25

The decentralized AI computing protocol gensyn completed its token public offering on December 21, with a total of 7,412 participants contributing approximately $16.14 million. The FDV at the completion of the public offering was $473 million, with a token price of $0.0473. The Gensyn Foundation stated that the details of the token distribution will be announced on December 25.

Governance Voting:

Uniswap submits UNIfication proposal: plans to burn 100 million UNI, voting ends on December 25

Uniswap founder Hayden Adams announced that the UNIfication proposal has been submitted for final governance voting, which will start at 11:30 AM Beijing time on December 20 and end on December 25. If the proposal passes, Uniswap Labs will burn 100 million UNI tokens after a 2-day lock-up period and enable the fee switch mechanism for versions v2 and v3 on the Ethereum mainnet, starting the burn of UNI and Unichain fees.

Additionally, the proposal includes a protocol fee discount auction (PFDA) mechanism to optimize liquidity provider (LP) returns, using aggregator hook features to expand Uniswap v4, migrating and permanently locking Unisocks liquidity, and integrating the Uniswap Foundation's ecosystem support team into Uniswap Labs. The proposal also plans to establish an annual growth budget of 20 million UNI for protocol development and ecosystem expansion.

Token Unlocks:

Humanity (H) will unlock approximately 105 million tokens at 8 AM Beijing time on December 25, with a circulation ratio of 4.79%, valued at about $14.8 million.

Plasma (XPL) will unlock approximately 88.89 million tokens at 8 PM Beijing time on December 25, with a circulation ratio of 4.5%, valued at about $11.7 million.

December 26

Macroeconomics:

Approximately $23 billion in Bitcoin options will expire on December 26, potentially exacerbating already high volatility

According to Bloomberg, the options market indicates that Bitcoin is under significant pressure as it enters the final weeks of 2025, with approximately $23 billion in contracts set to expire next Friday, which could exacerbate the already high volatility. This amount accounts for more than half of all open contracts on the Deribit platform. Nick Forster, founder of Derive.xyz, stated, "The positions in Bitcoin remain clearly bearish. The 30-day volatility has rebounded to around 45%, while the skew hovers around -5%. The longer-term skew is also anchored at around -5%, indicating that traders are pricing in continued downside risks for the first and second quarters due to ongoing selling pressure from previously inactive wallets that is suppressing spot prices."

The positioning around the December 26 contract expiration reflects this divergence. Call options are concentrated at strike prices of $100,000 and $120,000, suggesting that the market still holds an optimistic sentiment for a year-end rebound. However, put options have recently dominated, with a significant accumulation of put option exposure at the $85,000 strike price. Additionally, traders expect the market to reposition around two catalysts: first, hedging ahead of the MSCI decision on January 15, which may exclude companies holding more than 50% of their assets in crypto from its index; second, a resurgence of call overwriting fund flows.

December 26

Project Updates:

The "MEET48 2026 AI Entertainment UGC Platform and Web3.0 Development Strategy Conference" will be held in Seoul on December 26

On December 26, 2025, from 1:30 PM to 6:00 PM, MEET48, the world's first idol fan economy ecosystem based on Web3 architecture, deeply integrating AI and UGC, will co-host the “MEET48 2026 AI Entertainment UGC Platform and Web3.0 Development Strategy Conference” in Seoul, South Korea, alongside AIGC digital content creator L1 ecological chain POChain, the AIUGC virtual idol music and dance nurturing simulation game AuditionsGO developed by the original operation market team of "Audition," Hash Global, the Web3 Entertainment Alliance, and The Fan.

December 27

Governance Voting:

The LayerZero community will complete the third fee switch vote on December 27

LayerZero stated on its official blog that holders will participate in the third fee switch vote at 8:00 AM Beijing time on December 20. This vote occurs every six months and aims to allow holders to decide whether to activate the protocol fee switch. If the vote passes, the protocol fees will be used to repurchase and burn ZRO.

The voting window is from 8:00 AM Beijing time on December 20 to 8:00 AM on December 27. The quorum requirement for the vote is 40.59% of circulating ZRO, which means 230 million ZRO are eligible to vote. If the quorum is met, more than 50% of the votes in favor will be required for it to take effect. LayerZero Labs, the LayerZero Foundation, and related parties will abstain from voting.

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