Rhythm Morning Post | The number of monthly active addresses and new addresses on the Solana network hit the highest record this year; Bitcoin fell below $43,000 for a short period of time
Top News:
1. The 24-hour trading volume of SOL/USD on Coinbase exceeds the sum of the trading volumes of ETH/USD and BTC/USD.
2. Solana network has set a new record for monthly active addresses and new address additions, both of which are the highest of the year.
3. Polkadot ecosystem tokens are experiencing a general uptrend, with MOVR rising over 124% in the past 24 hours.
4. The Bitcoin halving is expected to occur on April 22, 2024, with less than 120 days remaining.
5. Bitcoin fell below $43,000 in a short period of time, with a 24-hour decline of 1.38%.
6. Zhu Su initiated a vote to migrate OX to the Cosmos chain.
Price Observation
OP breaks through $3.5 in a short time, creating a new historical high
On December 23rd, according to OKX market data, OP surged and broke through $3.5 in a short period of time, reaching a new historical high. It is currently priced at $3.32, with a 24-hour increase of 28.64%.
MAGIC short-term breakthrough $1.12, 24-hour increase of 21.87%
On December 23rd, according to OKX market data, MAGIC briefly broke through $1.12 and is currently trading at $1.07, with a 24-hour increase of 21.87%.
MOBILE dropped to $0.003, a 39.4% decrease in 24 hours
On December 23rd, according to market data, MOBILE fell to 0.003 USD, with a 24-hour decline of 39.4%.
DF rose to 0.062 USD and then fell back, with a 24-hour increase of 34%.
On December 23rd, according to market data, DF rose to 0.062 USD before falling back and is now priced at 0.055 USD, with a 24-hour increase of 34%.
全链 Meme 代币 OMNI 过去 6 小时涨超 350%，现报价 0.003824 美元
Translation:On December 23rd, according to dexscreener data, the full-chain Meme token OmniCat (OMNI) has risen by 357% in the past 24 hours and is now priced at $0.003824.
It is reported that OmniCat (OMNI) is a LayerZero-based full-chain Meme token, currently operating on 7 ecosystems including Ethereum, Solana, Arbitrum, Base, BSC, Canto, and Polygon. Its current market value has reached 21.4 million US dollars.
BlockBeats Note: The Meme token market fluctuates greatly, please invest rationally.
SOL short-term breakthrough $110, 24-hour increase of 12.06%
On December 24th, according to OKX market data, SOL briefly broke through $110 and is currently priced at $108.45, with a 24-hour increase of 12.06%.
Polkadot ecosystem tokens see a general rise, MOVR up over 124% in 24 hoursOn December 24th, according to market data, Polkadot's ecosystem tokens experienced a general uptrend, including:
MOVR's 24-hour increase has reached 124.32%, with a current price of $20.8 USD;
ACA 24-hour increase reached 38.56%, now priced at 0.113 USD;
KSM 24-hour increase reached 20.74%, with a current price of $40.22.
GLMR has increased by 38.29% in the past 24 hours and is now trading at a price of 0.512 USD;
DOT 24-hour increase reached 9.04%, with a current price of 8.56 US dollars.
SILLY breaks through $0.08, with a 24-hour increase of 69.5%
On December 24th, according to on-chain analyst Yu Jin, investment firm Sigil Fund withdrew 1.279 million OP tokens from Binance at an average price of $1.5 per token between July and November. With the recent surge in OP price, Sigil Fund began to partially take profits by transferring 426,000 OP tokens (valued at $146) to Binance 7 hours ago. Sigil Fund has gained a profit of $2.5 million (+130%) on OP.
A certain whale deposited 5,975 ETH, worth about $13.9 million, into Blast one hour ago.
On December 24th, according to Spot On Chain monitoring, a whale address starting with 0xc3b deposited 5,975 ETH (worth $13.9 million) into Blast one hour ago, becoming the fifth largest depositor. A total of 381,000 ETH (worth $879 million) has been deposited into Blast and will be locked until February 24th, 2024. Approximately 129,500 ETH (worth $300 million) came from the top 20 users, accounting for 34% of the total deposits.
On December 24th, according to @ai_9684xtpa monitoring, a whale transferred 54,800 AUCTION tokens (worth $2.41 million) to the Bounce IDO staking contract five minutes ago. It is reported that the whale has already made a profit of 77% through AUCTION. Currently, there are 1,403,140 tokens worth $62.35 million in the AUCTION/AMMX staking pool.
On December 24th, according to Lookonchain monitoring, 30 minutes ago, a whale deposited 19 million STORJ (worth 16.15 million USD) into Binance. It is reported that on November 19th, the whale withdrew 19 million STORJ (worth 14.11 million USD) from Binance when the price was about 0.74 USD, and currently has a profit of over 2 million USD.
DYDX, UNI, FLIP are among the top Smart Money inflows in the 24-hour ranking.
On December 24th, according to Nansen 2 data, the Smart Money 24-hour Ethereum network fund inflow tracking list is as follows: DYDX: approximately $2.16 million, currently priced at $3.125, with a 24-hour increase of 0.16%; UNI: approximately $1.02 million, currently priced at $6.567, with a 24-hour increase of 5.7%; FLIP: approximately $530,000, currently priced at $4.456, with a 24-hour decrease of 1.37%.On December 24th, according to on-chain analyst Yu Jin's monitoring, 6 hours ago, Kenetic Capital, the largest individual/institutional holder of RNDR, transferred 500,000 RNDR (approximately $2.36 million) to Binance. Kenetic Capital currently holds 6.1 million RNDR (approximately $28.96 million) with an average price of $2.86 and a floating profit of $12.27 million (+65%).
A whale transferred 160,000 AVAX to Binance, worth about $7.56 million.
On December 24th, according to The Data Nerd's monitoring, a whale has just transferred 160,000 AVAX, approximately $7.56 million, to Binance. In the past two weeks, the whale has deposited a total of 260,000 AVAX, approximately $10.7 million, to the trading platform at an average price of $41.2.
A new address withdrew 47,000 AAVE and 2,251 MKR from Binance 8 hours ago.
On December 25th, according to on-chain data analyst Yu Jin, a newly created address withdrew 47,096 AAVE (approximately $4.7 million) and 2251 MKR (approximately $3.15 million) from Binance 8 hours ago.
Project Updates
RPG blockchain game Illuvium plans to launch a public beta in Q1 2024
On December 23rd, RPG blockchain game Illuvium announced an update to their 2024 roadmap on social media, with the primary goal of launching the testnet. They are currently integrating blockchain technology, finalizing the IMX passport, and completing gas exchanges. Illuvium plans to release a public beta in the first quarter of 2024, but it may be delayed until early in the second quarter.
Aevo announced the launch of incentive plan in Q1 2024
On December 23rd, Aevo, an options and perpetual contract trading protocol, announced that its weekly active users had doubled in the past few weeks. The platform will improve scalability and stability, introduce more market makers by 2024, and launch an incentive program in the first quarter of 2024.
SafeDAO community initiates "Stablecoin Distribution" proposal.
On December 23rd, according to the Snapshot governance page, the SafeDAO community initiated a "stablecoin distribution" proposal. The proposal outlines that SafeDAO will receive stablecoin distribution from the Safe ecosystem fund ("Foundation") as a reward for holding ARB/OP tokens (held by the Foundation as a legal entity). This funding mechanism enables SafeDAO to support initiatives within the Safe ecosystem under the Outcome-Based Resource Allocation (OBRA) framework in the form of stablecoins. The proposed proposal will allow SafeDAO to receive a distribution of USDC from the Foundation, equivalent to the value of the Optimism (OP) and Arbitrum (ARB) tokens currently distributed to SafeDAO (stablecoin distribution). Based on the market price on December 10, 2023, this amount is approximately $1.6 million.
BIT trading platform launches Ethereum inscription ETHS
On December 23rd, the all-in-one cryptocurrency trading platform BIT launched Ethereum Name Service (ETHS) at 18:00 (UTC+8) on December 23rd, 2023, becoming the first centralized trading platform to list ETHS. BIT has currently opened up deposit channels and simultaneously listed the ETHS/USDT spot trading pair. Additionally, they have launched the "Deposit and Trade to Share 1000 ETHS" activity, where users can register through a designated invitation link and deposit to share the 1000 ETHS prize pool.It is reported that the BIT trading platform plans to develop the ETHS deduction fee function, allowing users to pay transaction fees with ETHS and receive a 10% discount.
BakerySwap Launchpad will launch BitLand (BLLB)
On December 24th, BakerySwap announced on social media that its new Launchpad will feature BitLand (BLLB). The investment will open on Thursday, December 28th at 4 PM, and users can participate using BAKE and 1CAT tokens. BitLand is the first AI-driven 3D metaverse based on the Bitcoin ecosystem.
BitLand is committed to cultivating an environment that values social interaction, user gaming experience, and allows users to utilize their Bitcoin assets (BRC20, Ordinals NFT, etc.) in the metaverse. By bridging assets between ERC20 and BRC20, BitLand will attract many new users to the Bitcoin ecosystem and reduce barriers between the Bitcoin ecosystem and the EVM ecosystem.
Coinbase's SOL/USD 24-hour trading volume exceeds the sum of ETH/USD and BTC/USD trading volumes
On December 24th, the 24-hour trading volume of SOL U perpetual contract on Binance platform reached 5.314 billion US dollars, surpassing the 24-hour trading volume of BTC U perpetual contract (4.822 billion US dollars) and rising to the first place.
According to market data, SOL has broken through $110 and is currently priced at $111.42, with a 24-hour increase of 16.74%.
On December 23rd, according to official sources, TON ecosystem Launchpad platform TonUP announced the completion of a private placement round of financing. This round of financing was participated by Antalpha, MEXC Venture, Waterdrip Capital, New Tribe Capital, nxgen capital, MixMarvel DAO Venture, y2z Venture, and individual investors in the industry. The specific amount of financing has not been disclosed yet, and the funds raised in this round will be used to support product development and the expansion of multiple markets.
Solana ecosystem project DePIN DAO receives $2 million seed round investment from Unicorn-Verse
On December 23rd, Solana ecosystem project DePIN DAO received a $2 million seed round investment from Unicorn-Verse. Unicorn-Verse stated that this investment will drive DePIN DAO's vision of completely changing decentralized data integration and empowering the data economy.
Bitcoin mining company Stronghold completes $15 million equity financing
On December 24th, according to Bitcoin.com, Stronghold Digital Mining, a Bitcoin mining company, announced that it has signed a $15 million equity purchase agreement with an institutional investor. Stronghold stated that the funds will be used to expand its mining equipment and promote its carbon capture plan. The investment was made by selling 2.3 million Class A shares at an average price of $6.71 per share.Bitcoin's first Gamefi project Ordz Games completes seed round financing, led by Waterdrip Capital
On December 25th, Ordz Games, the first NFT + Gamefi project on the Bitcoin mainnet, announced the completion of its seed round of financing. Waterdrip Capital, Unisat, Satoshi Lab, CoinSummer, Sora Ventures and others participated in the investment, and the amount of financing has not been disclosed. It is reported that Ordz Games went live on March 22nd and is the first Gamefi project to engrave retro game code onto the blockchain and reward users with BRC-20 tokens. The team recently announced that the BRC-20 token name has been changed from $OG$ to ORDG and will become the first IDO project on the ALEX multi-chain launch platform.
Viewpoint Data
Arthur Hayes cautions against Bitcoin ETF: may pose a threat to the value and existence of Bitcoin
On December 23rd, Arthur Hayes, the founder of the cryptocurrency trading platform BitMEX, published a lengthy article on his blog, delving into topics such as changes in Federal Reserve policy, regulated decentralized finance (Permissioned DeFi), real-world assets (RWA), and Bitcoin ETFs. Hayes believes that Bitcoin and cryptocurrencies are the best way to combat the depreciation of fiat currency, comparing them to gold, the S&P 500 index, and the Nasdaq 100 index, and pointing out that Bitcoin has outperformed other risky assets since 2020. When discussing changes in Federal Reserve policy, Hayes particularly emphasized the important influence of political factors on Federal Reserve decisions.
He pointed out that Jerome Powell, the chairman of the Federal Reserve, had emphasized the necessity of raising interest rates to deal with the out-of-control inflation in the post-pandemic period. However, according to recent statements and actions, the Fed's policy seems to have undergone a significant shift, considering the possibility of cutting interest rates in 2024. This policy shift reflects the direct impact of the current political situation in the United States on the Fed's policy. Hayes' analysis suggests that this change in policy may be due to pressure from the political leadership, especially in major election years. In order to gain voter support, political leaders may be inclined to adopt loose monetary policies to stimulate economic growth and improve the performance of financial markets, even if this may lead to long-term inflation risks.
Hayes is critical of Permissioned DeFi, a regulated decentralized finance model that combines centralized and decentralized elements. He believes that this financial model violates the core principles of decentralization and may simply be another way for traditional financial institutions to exploit retail investors. Regarding the tokenization of real-world assets (RWA), Hayes believes that while this attempt may sound attractive, it will face many challenges in practice. He specifically points out that tokenizing assets such as real estate and bonds may be difficult to succeed due to a lack of standardization and liquidity.
Finally, Hayes remains cautious about Bitcoin ETFs. He suggests that if the ETF is held and stored by traditional financial institutions in large quantities without utilizing the Bitcoin blockchain, it may pose a threat to the value and existence of Bitcoin. He emphasizes that Bitcoin is different from other currency assets in history, and its value lies in its liquidity and usage, not just holding.
Bloomberg: OpenAI is seeking a new round of financing with a valuation of at least $100 billion
On December 23rd, according to sources cited by Bloomberg, OpenAI is seeking to raise a new round of funding at a valuation of $100 billion or higher, which would solidify its position as one of the most valuable startups in the world. Potential investors for this round of funding have participated in preliminary discussions, but details such as the terms, valuation, and timing of the funding have not been finalized and are subject to change. According to CBInsights data, if this round of funding proceeds as planned, it will make OpenAI the second most valuable startup in the United States, second only to Elon Musk's Space Exploration Technologies Corp.
Grayscale's GBTC negative premium rate narrows to 5.63%
On December 23rd, according to Coinglass data, the Grayscale Bitcoin Trust (GBTC) negative premium rate has narrowed to 5.63%. In addition, the ETC Trust has a negative premium of 13.23%, the LTC Trust has a positive premium of 114.51%, and the BCH Trust has a positive premium of 92.54%.
Data: Blast TVL breaks $950 million
On December 23rd, according to DeBank data, the total value of assets held by the contract address of Blast, a Layer 2 network created by Blur founder Pacman, exceeded 960 million US dollars, including 850 million US dollars worth of ETH deposited in the Lido protocol and over 100 million DAI deposited in the Maker protocol.
On December 24th, according to IntoTheBlock data, the market value of Ethereum is expected to grow by about 85% in 2023. Despite upgrades, various ETF applications (already submitted), and strong adoption indicators, its performance still lags behind other major assets.
Data: L2 TVL breaks $18 billion, up 13.5% in 7 days
On December 24th, according to L2BEAT data, the total value locked (TVL) in Ethereum Layer2 is currently reported at $18.18 billion, with a 7-day increase of 13.5%. The top five locked assets are: Arbitrum One ($8.77 billion, 7-day increase of 7.01%); OP Mainnet ($5.86 billion, 7-day increase of 24.25%); Base ($738 million, 7-day increase of 4.9%); zkSync Era ($585 million, 7-day increase of 15.76%); dYdX ($347 million, 7-day decrease of 0.09%).
The open position of Bitcoin contracts on the entire network has exceeded 19 billion US dollars.
On December 30th at 12:00, Optimism will unlock 24.16 million OP tokens (approximately $79.97 million) which accounts for 2.65% of the circulating supply.
Regulatory News
BarnBridge DAO founder reaches settlement with SEC, will be fined $1.7 million
On December 23rd, Bloomberg ETF analyst James Seyffart tweeted that Hashdex has submitted its revised Bitcoin spot ETF application (S-1) to the SEC, confirming BitGo as the custodian of its spot ETF assets in this update.
On December 23rd, Bloomberg ETF analyst James Seyffart tweeted on social media that BlackRock has submitted its revised Bitcoin spot ETF application (S-1) to the US SEC.
On December 23rd, Bloomberg ETF analyst James Seyffart tweeted that according to the revised Bitcoin spot ETF application (S-1) submitted by BlackRock to the SEC, BlackRock plans to inject $10 million in seed funding into its spot Bitcoin ETF (IBIT) on January 3rd. Although injecting seed funding does not mean that the ETF will officially launch, it may indicate that BlackRock expects IBIT to be approved and officially launched soon.
BlockBeats Note: Authorized Participants (AP) are one of the main participants in the ETF creation/redemption mechanism and play an important role in ETF liquidity. APs are large institutional liquidity providers who have legal agreements with ETF issuers. ETF shares are typically created by APs, allowing them to increase or decrease the number of ETF shares on the market.
Bloomberg: Nigeria Allows Banks to Open Accounts for Crypto Companies
On December 23rd, according to Bloomberg, the Central Bank of Nigeria lifted the ban introduced in 2021 and allowed banks to collaborate with companies that provide digital tokens. The Central Bank of Nigeria requires banks to open accounts for cryptocurrency companies, with the specific notification date being Friday. In February 2021, the Central Bank of Nigeria had required financial institutions that accept deposits to immediately close accounts related to cryptocurrency transactions or operating cryptocurrency trading platforms, calling such transactions "prohibited".Bloomberg: Yellow Card seeks trading license after Nigeria lifts cryptocurrency ban
On December 23rd, according to Bloomberg, trading platform Yellow Card Financial Inc. will "immediately" apply for a license after the lifting of the 2021 ban on cryptocurrencies by the Central Bank of Nigeria. Yellow Card is a company focused on Africa and operates in Nigeria and at least 15 other countries on the continent. The company has begun discussions with the Nigerian Securities and Exchange Commission to operate a cryptocurrency trading platform after the commission invited digital asset issuers, custodians, and trading platforms to apply for licenses.On December 24th, according to Yangtze Evening News, the Qingdao police in Shandong province, in conjunction with other police forces, cracked a major underground money laundering case involving a total amount of 15.8 billion yuan, spanning 17 provinces and municipalities across China, and arrested illegal currency exchange dealers. In November 2022, the Qingdao police discovered that the accounts of Jin and others were highly abnormal, with an average daily turnover of over 3 million yuan and a total transaction amount of more than 2 billion yuan, and with large amounts of funds exhibiting abnormal characteristics such as round-the-clock high-frequency trading and quick in-and-out transactions. Li is an ordinary employee of a county-level textile enterprise, but the funds flowing through her associated and controlled third-party bank accounts amount to more than 5 billion yuan, which is clearly inconsistent with her identity.
As a result, the police conducted an investigation around her trading partner and discovered that Li's other identity was actually a money changer specializing in illegal buying and selling of virtual currencies. Li helped Jin exchange a large amount of funds into virtual currencies such as Tether through a virtual currency trading platform overseas. With solid evidence in hand, the investigators carried out a crackdown. The Qingdao police seized virtual currencies such as Tether and Litecoin worth about 2 million yuan on the spot. The case has been transferred to the prosecutor's office for review and prosecution.
On December 24th, according to Cointelegraph, Coinbase denied the allegations made by US Senator Elizabeth Warren that it had hired former government officials to hinder the progress of digital asset regulation. In a letter on December 22nd, Coinbase's Chief Policy Officer, Faryar Shirzad, responded by saying, "Warren's claim that Coinbase is trying to undermine bipartisan legislation related to cryptocurrency is completely false. Her accusations are not only unfounded, but intentionally distorted our intentions and efforts." Shirzad also stated that the recruitment of government personnel by the trading platform is part of a broader effort to protect the welfare of American cryptocurrency users. "We are incredibly proud of our national security team, who are dedicated to protecting Americans every day," he said.
On December 24th, according to sources, officials from the US Securities and Exchange Commission (SEC) met with representatives from at least 7 issuers who hope to launch Bitcoin spot ETFs in early 2024. The SEC will decide on January 10th of next year whether to approve or reject the joint proposal submitted by ARK Investments and 21 Shares, and most issuers expect the SEC to approve multiple applications before the deadline. Senior executives from the two issuers who met with the SEC said that the SEC requested that they submit the final revised version of the application by December 29th, and issuers who fail to submit by the relevant date will not be among the potential candidates for the first batch of approved Bitcoin spot ETFs in early January.
SafeMoon former CEO denied bail.
On December 24th, according to Inner City Press, Braden John Karony, the former CEO of DeFi protocol SafeMoon, was arrested in Utah and denied bail.
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