I. Attention Value - Market Highlights
1. Market Situation
（1）Macroeconomic Environment:
l Hester Peirce's Proposed Crypto Regulations: A New Direction for Industry Development
On December 10, in an interview with FOX Business reporter Eleanor Terrett, SEC Commissioner Hester Peirce proposed three new recommendations for the SEC under the Trump administration to address crypto regulations. First, she suggested stopping the regulatory bottleneck of the government's access to cryptocurrency services to promote industry development. Secondly, Peirce emphasized the need to clarify which matters are not within the SEC's jurisdiction and which are not securities, thereby reducing the regulatory burden on relevant entities. Finally, she called for collaboration with entities involved in cryptocurrencies to jointly explore the applicability of existing rules and necessary adjustments, believing this process should be conducted in public to allow for broad participation and rapid consensus.
Peirce's recommendations aim to create a more flexible and transparent regulatory environment, which could have a positive impact on the cryptocurrency industry. By eliminating regulatory barriers, industry participants can more easily access necessary services, while clarifying which matters are not under SEC regulation will help reduce compliance costs. Additionally, collaborating with the industry to discuss the applicability of rules can ensure regulatory policies align with market realities, thereby enhancing market confidence.
(2) Web3 Sector:Altcoin Crash Triggers Liquidation of Over 572,000 Traders, Heightening Market Panic
On December 10, the Bit price fell to $94,000, leading to extreme volatility in Altcoins. Ethereum reached a low of $3,509, a 24-hour drop of 7.15%; SOL hit a low of $203, a decline of 7.35%; SAGA fell by 24%; 1INCH dropped 23.6%; HMSTR fell 23%; and NOT touched a low of $0.00615, a 22.48% decline. According to Coinglass data, in the past 24 hours, 572,395 traders were liquidated across the network, far exceeding the "312 Crash" event. After this plunge, the contract funding rates of mainstream centralized exchanges have generally fallen back to normal levels, with the funding rates of most Altcoin contracts dropping below 0.005%, entering a "generally bearish" state, and some Altcoin contracts even showing negative rates on individual exchanges.
2. Hot Events
(1) Macroeconomic Environment:Nubit Responds to CZ: Bit Payments Surpass Traditional Finance, Entering a New Era of the "World Computer"
On December 10, Nubit responded to CZ's view that "Bit payments are superior to traditional finance," stating that Bit's trustless and intermediary-free settlement has surpassed traditional finance (TradFi), but this is just the beginning. Through BitVM, Bit will break through the limitations of "payments" and move towards a true "world computer." Previously, CZ responded on the X platform to the "Amazon shareholder proposal to explore Bit financial strategy" by saying: "Simple question, do you accept Bit payments?" When users questioned whether Bit is a good payment method, CZ replied: "That's true. I paid $17.08 in Bit yesterday, but had to wait 15 minutes for confirmation. However, this is still better than traditional finance. I don't need to call anyone to fix it, it's settled in 15 minutes. Crypto, I agree."
(2) Web3 Sector:Ethereum Developer Max Resnick Joins Solana Development Company Anza
Ethereum developer Max Resnick announced on December 9 that he has joined Solana core development company Anza. Resnick stated on social media that he plans to focus on writing technical specifications for the Solana protocol in his first 100 days at Anza, particularly in the areas of the fee market and consensus implementation, in order to have the greatest impact. He will also continue to work as a consultant with the ConsenSys team. Resnick previously served as research lead at ConsenSys' Special Mechanisms Group and was known for his criticism of Ethereum's expansion strategies, believing that some ideas around Layer 2 were mistaken and that Ethereum should focus on scaling the base layer. Resnick's transition is seen by industry insiders as helping to promote technical exchange between Ethereum and Solana, potentially bringing more attention to Solana's technical roadmap.
3. Hot Narratives
l TikTok Concept Coin Surges Against Market Trend, Sparking Heated Discussion
In the early hours, the TikTok concept coin experienced explosive growth, contrasting sharply with the overall market decline. $Luigi, based on the background of a social news story, a 26-year-old man named Luigi Mangione was arrested in Altoona, Pennsylvania for allegedly stabbing the CEO of UnitedHealth Group, Brian Thompson. Mangione comes from a wealthy family and has a computer science degree from the University of Pennsylvania. Netizens believe this incident involves deeper social issues such as economic inequality, educational background, and mental health, sparking heated discussions, especially on TikTok. The market capitalization of the Luigi token reached a high of $63.8 million, a nearly 494-fold increase, and although it has since retreated, the market enthusiasm remains high.
