24HTop Cryptocurrencies
1、Top CEX Cryptocurrencies
CEX Trading Volume Top 10 and 24-Hour Price Change:
BTC: -1.85%
ETH: -5.37%
DOGE: -10.46%
XRP: -11.18%
PEPE: -5.55%
SOL: -6.75%
BNB: -5.45%
NEIRO: -6.69%
1 MBABYDOGE: + 32.47%
ADA: -12.8%
24H Gainers (Data from OKX):
MOVE: + 1, 148.72%
BABYDOGE: + 32.23%
POLYDOGE: + 13.21%
MILO: + 4.61%
CXT: + 1.65%
LEO: + 1.40%
ZKJ: + 1.36%
XAUT: + 0.55%
2、Top 5 On-Chain MEME (Data from GMGN):
GUZUTA
SHIKOKU
MONKEY
Luigi
$DAGO
3、Today's Hot Cryptocurrencies
MOVE: MOVE is a blockchain project based on the Move programming language, developed by Movement Labs. It is deeply integrated with Ethereum, providing a flexible and powerful development environment. MOVE's resource-oriented programming model effectively prevents smart contract vulnerabilities, enhancing security, and its "post-confirmation" mechanism allows transaction confirmation speeds of up to one second, greatly improving the user experience. Recently, the launch of the Mainnet Beta and the generation and listing of the $MOVE token have attracted a lot of market attention, and the implementation of the MoveDrop plan has further increased the project's popularity.
BABYDOGE: A MEME coin, deeply tied to the concepts of DOGE and Musk. Not only has it been boosted by Musk-related tweets, but it also maintained a 24-hour gain of over 30% despite the recent crash.
Headlines
Russian Lawmaker Proposes Creating a National Bitcoin Reserve to Counter Economic Sanctions
Russian lawmaker Anton Tkachev has proposed creating a national Bitcoin reserve, positioning it as a tool to counter economic sanctions and ensure financial stability.
In a formal appeal to the Finance Minister, Tkachev suggested establishing a Bitcoin reserve similar to traditional foreign exchange reserves. He believes that cryptocurrencies have unique advantages in mitigating risks related to sanctions, inflation, and currency volatility.
Tkachev pointed to Bitcoin's continuously rising valuation, using the example of it reaching $100,000 by December 2024 to demonstrate its reliability as a store of value and investment. This proposal aligns with the Bank of Russia's broader initiative to incorporate digital assets into the international payment system.
According to CoinGecko data, the current cryptocurrency market capitalization is $3.635 trillion, with a 24-hour decline of 7.5%. BTC's market dominance is 53.1%, and ETH's is 12.4%.
Additionally, according to Coinglass data, there were $1.711 billion in total crypto liquidations over the past 24 hours, with $1.55 billion in long liquidations and $162 million in short liquidations. BTC saw $183 million in liquidations, and ETH saw $240 million.
Movement Launches Airdrop Claim
According to a post by the Movement Foundation on the X platform, Movement has opened up airdrop claims.
Industry News
El Salvador Plans to Relax Bitcoin Acceptance Requirements to Unlock $300 Million Loan
According to a report by the Financial Times citing anonymous sources, El Salvador plans to relax the requirement for local businesses to accept Bitcoin, in order to secure over $300 million in loans. The sources said that by shifting to a voluntary Bitcoin acceptance policy, El Salvador can reach a $130 million loan agreement with the International Monetary Fund. The report states that this deal will also unlock two other loans, one for $100 million from the World Bank and another for $100 million from the Inter-American Development Bank. The Financial Times noted that to secure the IMF loan, the country has also agreed to reduce its budget deficit, pass anti-corruption laws, and increase reserves.
Project News
The ether.fi Foundation announced that the ether.fi protocol earned $3.5 million in November, with 5% of that being allocated to purchase 89,000 ETHFI tokens for a buyback and LP program.
Circle: Plans to Launch CCTP V2 Cross-Chain Transfer Protocol in Early 2025
Stablecoin issuer Circle announced on the X platform that it plans to launch the new version of its Cross-Chain Transfer Protocol, CCTP V2, in early 2025. It will initially support Ethereum, Base, and Avalanche, with more chains to be added later. The new CCTP version will provide:
-Faster cross-chain USDC transfers;
-Low-latency settlement (in seconds, not minutes);
-All cross-chain transactions guaranteed by Circle.
Investments
Bitcoin Miner Arkon Energy's Nscale Raises $155 Million, Led by Sandton Capital Partners
Nscale, the European AI cloud company under Bitcoin miner Arkon Energy, has completed a $155 million funding round, led by Sandton Capital Partners, with participation from Kestrel, Bluesky Asset Management, and Florence Capital. The funding will support Nscale's growth plans in Europe and North America.
Nscale officially launched in May 2024. The company provides a GPU cloud based on AMD hardware, particularly AMD's Instinct M 130 0X accelerators, as well as AMD MI 250 GPUs and Nvidia's A 100, H100, and V1 00 GPUs. Nscale operates a 60 MW data center in Glomfjord, Norway, previously owned by Arkon.
The company claims to have expanded its greenfield data center capacity in Europe and North America from 300 MW to 1.3 GW, and plans to develop 120 MW by the first quarter of 2025. Nscale says it will launch a public cloud service in the first quarter of 2025, allowing developers to access custom-built inference and training solutions in a flexible development environment.
Nscale previously acquired Kontena, a provider of high-density modular data centers and AI data center solutions. Arkon had previously collaborated with Kontena to deploy two mining containers at its Glomfjord site.
Many crypto companies have at least partially pivoted to AI, including CoreWeave, Core Scientific, Hut 8, TeraWulf, and Applied Digital (formerly Applied Blockchain).
Bitcoin Lending Platform Lava Raises $10 Million in Series A, Backed by Khosla Ventures
Bitcoin lending platform Lava has raised $10 million in a Series A funding round, with participation from Khosla Ventures and Founders Fund. Lava's founder and CEO, Shehzan Maredia, revealed that the platform allows users to use Bitcoin as collateral for loans, with the slogan "Save in Bitcoin, Spend in Dollars".
Riot Platforms Plans to Issue $500 Million Convertible Preferred Notes to Purchase BTC
According to official information, Riot Platforms, a Nasdaq-listed Bitcoin mining company, announced that it plans to raise $500 million through the issuance of convertible preferred notes. The company intends to use the net proceeds from this issuance to purchase additional BTC and for general corporate purposes.
The Web3 social protocol Candao has received a $25 million token investment commitment from Rollman Management Digital to further develop its technology and business.
It is reported that Candao will combine decentralized social networks with Web3 tools, allowing users to earn rewards, collaborate and co-create in a community-driven ecosystem. Candao has realized the tokenization and seamless exchange of assets such as intellectual property, real estate, fans and personal skills. CDO-Chain, developed by Candao, is a native L2 network that serves as the core infrastructure of the Candao ecosystem, aiming to handle all transactions related to data ownership, asset management and user activities within the protocol.
RMD (Rollman Management Digital) is led by the founders of Rollman Capital, Rollman Mining and Rollman Management, Victor R.Ch.Rollman.
Voices
Conservative political activist Charlie Kirk posted on X that "Chuck Schumer is trying to convince Democratic activist Lauren McFerran to be reappointed as chair of the National Labor Relations Board. This is a big deal, as if successful, it would give the Democrats a NLRB chair for the first two years of President Trump's term. We need every Republican senator."
Elon Musk commented on this, saying, "The current administration is doing everything possible to impede government efficiency, but the Department of Government Efficiency (DOGE) is unstoppable."
Analysis: BTC may need time to stabilize above $100,000
On Tuesday, BTC briefly fell below $95,000, and the small-cap digital asset index fell more than 10%, marking one of the largest declines of the year.
On December 5, BTC reached a new all-time high of $103,800, but has since struggled to maintain above the six-figure level. According to CoinGecko data, the entire cryptocurrency market has shrunk by about $250 billion in the past 24 hours.
In a report, Charlie Morris, Chief Investment Officer of ByteTree Asset Management, wrote: "Big round numbers are real and often take time to overcome. $100,000 is a number we should get used to, but unless the flow of funds can surge from here, we'll spend time at that level."
In a report, Katie Stockton, a technical analyst at Fairlead Strategies LLC, suggested taking a "neutral short-term bias" after BTC failed to hold above $100,000.
SBF is writing a memoir and recording his prison life
Former crypto billionaire SBF, who is currently serving a 25-year sentence in the Metropolitan Detention Center (MDC) in Brooklyn for fraud, has begun writing his memoir. Based on some leaked excerpts, perhaps because SBF has not yet fully adapted to his new reality, his work has a unique tone reminiscent of Jane Goodall's accounts of life with chimpanzees or Victorian-era anthropologists observing foreign cultures.
For example, "Most people become introverted," SBF wrote, referring to other inmates. "They'll fight over a banana." Other sections focus on more mundane matters, such as his struggle to secure a pillow. "I lost my pillow tonight. So tonight I used a towel and my prison uniform to support my head. It didn't work well, and my neck is already very sore."
It is reported that SBF also criticizes the lack of clocks in prison, leading to a loss of sense of time, and details his experience of trading with inmates to temporarily obtain a pillow. At the same time, he mentions that he meets with a legal assistant daily and maintains contact with his lawyer father through video calls. SBF's diary describes the prison culture from an observer's perspective, reflecting his struggle to adapt to his new life and his profound reflections on freedom and identity.
Bitfinex report: BTC consolidates in the $100,000 range, but the market shows signs of stabilization
In a post, Bitfinex analyzed that last week, BTC reached a new all-time high, breaking through $100,000 for the first time and reaching a record high of $104,000. This marked a 111% increase from the summer low of below $50,000. However, after the rebound, a 14.84% sharp correction occurred, including a rapid 10% drop in just eight minutes, which was the largest pullback from the current all-time high since the pre-US election sell-off. This correction led to over $1.1 billion in liquidations, with $419 million in BTC long positions, highlighting the high leverage in the market.
Despite the volatile market, signs of stabilization are emerging. The realized profit metric, which once reached a peak of $10.5 billion per day, has now dropped to $2.5 billion, easing the selling pressure. Futures funding rates have also normalized, indicating a decrease in speculative leverage. Although ETF inflows slowed slightly on the weekend, they remain a key source of support, as long-term holders continue to take profits in the context of BTC consolidating above $100,000. As financing rates normalize and selling pressure eases, further upside is possible if ETF inflows continue to increase.
Additionally, the Federal Reserve is evaluating potential policy shifts by the new administration, while the economy remains supported by a resilient labor market and stable consumer demand. However, the uneven recovery across industries calls for cautious optimism.
In an official Telegram channel post, QCP Capital stated: "For ETH and BTC, $4,000 and $100,000 are key support/resistance levels. Last week, these two major coins broke through these key levels, and today the overall market is showing consolidation at low levels.
Looking at the open interest (OI) peak at the December 27, 2024 expiry, these key levels correspond to the strike prices with the most open interest: ETH-27 DEC 24-4000 (90,000 contracts) and BTC-27 DEC 24-100000 (16,000 contracts). Therefore, if the spot prices rise, will the market makers' hedging drive further upside? We tend to think this scenario is unlikely to occur.
Today, we observed that some holders have taken profits on their BTC-27 DEC 24-100k-C long positions and may have rolled these positions to the March 2025 $130,000-$150,000 strikes. This suggests adequate supply of top-end gamma in the market.
Additionally, the funding rates of Deribit perpetual contracts have remained relatively stable, and the funding rates on mainstream exchanges are slightly higher than normal, further reducing the likelihood of a sharp price increase. Although we remain structurally bullish, the spot market may consolidate in a range during the holiday period. Historically, ETH typically does not set new highs before January of the halving year. This market sentiment is also reflected in the options market, where the ETH risk reversal only starts to tilt bullish after January.
