1. Top Coins on CEX
Top 10 CEX Trading Volume and 24-Hour Price Changes:
BTC: + 1.31%
XRP: + 13.62%
ETH: + 0.83%
XLM: + 26.17%
SOL: + 3.65%
PEPE: - 4.49%
DOGE: + 3.6%
HBAR: + 8.79%
ADA: + 10.04%
PENGU: + 10.36%
24-Hour Gainers (Data from OKX):
XLM: + 26.17%
DGB: + 24.97%
IOTA: + 20.25%
FTM: + 18.23%
ALGO: + 16.3%
XRP: + 13.62%
XCH: + 12.62%
GOAT: + 12.55%
SWEAT: + 11.78%
BICO: + 11.18%
2. Top 5 Mainnet Meme Coins (Data from GMGN):
PENGU
DUNA
DRIFFAIN
AUDIT
SNAI
3. 24-Hour Trending Coins
VIRTUAL: The AI concept leader continued to hit new highs, with a market cap once approaching $5 billion, currently reported at $4.8 billion.
ai16z: Another major AI concept leader ai16z continued to hit new highs, with a current market cap of $2.4 billion.
ai16z has initiated a token economics update proposal, the key content of which includes: the Launchpad phase in Q1 2025, through acquisitions with mature technology and teams, focusing on Eliza framework innovation, including multi-chain integration, increasing startup costs, staking and other value capture mechanisms. The second phase focuses on ecosystem growth and incentive synergy, allowing multiple products to increase each other's value, enhancing the connection of the ai16z token, using buybacks, ecosystem funds and other incentives for developers.
Headlines
Musk Changes His X Platform Account Name Back to "Elon Musk"
Odaily News Report: X platform information shows that Musk has changed his X platform account name back to "Elon Musk", and his profile picture has also been changed from a PEPE image to a personal photo.
Odaily News Report: Possibly affected by Musk's account name change, Kekius Maximus concept Meme tokens plummeted across the board. Among them, KEKIUS on Ethereum fell more than 50% in 30 minutes, with a current market cap of $96.6 million, and KM on Solana fell about 50% in 30 minutes, with a current market cap of $3.6 million.
Odaily News Report: Lens Protocol posted on the X platform that the Lens mainnet is about to launch.
Industry News
US Bitcoin Spot ETF Net Inflows of $5.36 Million Yesterday
Odaily News Report: According to Farside Investors data, the US Bitcoin spot ETF had net inflows of $5.36 million yesterday, mainly from the Fidelity FBTC.
US Ethereum ETF Net Inflows of $36 Million Yesterday
Odaily News Report: According to Farside Investors data, the US Ethereum ETF had net inflows of $36 million yesterday.
ParaFi's Current AUM Exceeds $1 Billion, Plans to Expand More Than 5-Fold in the Next Few Years
Odaily News Report: In addition to being a venture capital firm, ParaFi Technologies also operates a validator system with over $1 billion in staked assets, acting as a validator for Aptos, Solana, and Ethereum. ParaFi partner Kevin Yedid-Botton said: "In a simple sense, we are an investment and technology company. We also see ourselves as a public utility provider for the blockchain ecosystem."
He further explained: "From a purely commercial perspective, our revenue is diversified. We don't rely on a single revenue source from a single fund. We have quantitative funds, venture funds, token funds, and other ancillary businesses, GP business, and technology business."
Yedid-Botton found that ParaFi's multi-business approach not only generates revenue, but also has a great benefit in that the teams can engage in open communication, and these teams have different skills. Yedid-Botton believes the company has created a "unique combination" that can "find alpha in a way that other companies cannot".
ParaFi's next cycle will focus on developing its existing businesses. Yedid-Botton said that ParaFi currently manages over $1 billion in assets and plans to expand its asset base more than 5-fold in the next few years. (Blockworks)
Odaily News Report: Globalt Investments senior portfolio manager Thomas Martin revealed that their current portfolio has 10% in gold, and they may consider increasing their Bitcoin allocation, but the portfolio exposure may not exceed 5%.
He also said they may consider holding 5% cash in the portfolio, with the remaining invested in stocks and bonds, with the ratio between the latter two varying based on different investors' risk preferences. Thomas Martin pointed out that in some of the more aggressive strategies he manages for clients, stocks may account for 90% of the portfolio, and gold has a low correlation with stocks, bonds, and cash, and may sometimes serve as a store of value.
Odaily News Report: Messari released 6 predictions for 2025 on the X platform:
1. Hyperliquid's outperformance may have ended;
2. VIRTUAL's FDV will surpass TAO's FDV within 3 months;
3. Pudgy Penguins will surpass CryptoPunks as the hottest PFP series;
4. Peaq will surpass all L2s by 2025;
5. ETH will outperform SOL in 2025;
6. AI agent frameworks will peak in Q1 2025 and will not recover.
Project News
Ripple's Chief Legal Officer Outlines 6 Principles to SEC, Urging Prudent Crypto Regulation
Odaily News Report: Ripple's Chief Legal Officer Stuart Alderoty outlined six key principles on the eve of the new year, urging the US SEC to take a prudent approach to crypto regulation:
1. SEC only has jurisdiction over securities transactions;
2. Selling gold bars with contractual rights, ownership or mining interests may be a securities transaction;
3. Selling the same gold bar without post-sale rights or obligations is just an asset sale, which the SEC has no jurisdiction over;
4. SEC's jurisdiction will not expand based on its subjective views on who "should" disclose;
5. Tokens are not securities, although they can be the subject (subject) of securities transactions;
6. The concept that tokens can "evolve" from securities to non-securities is a fictional fallacy without legal basis.
Sonic: Over 12 CEXs Will List S Trading to Replace FTM in January
Here is the English translation of the text, with the specified terms translated as instructed:Odaily report: Sonic announced on the official TG channel that more than 12 CEXs will launch S trading in January to replace FTM. These exchanges include Binance, OKX, etc. Please continue to follow the updates on the launch date and beware of scams.
Previously, Sonic SVM announced the tokenomics of its native token $SONIC, with a total supply of 2.4 billion, of which 57% is allocated to the community, including community and ecosystem development (30%), initial claim (7%), and HyperGrid rewards (20%). The TGE is scheduled for January 7, 2025, with an initial circulating supply of 15% of the total. The eligibility check tool for the initial claim program will be launched on January 3, and users can verify if their wallets meet the claim requirements. Meanwhile, the SonicX TikTok airdrop campaign will remain open until January 6.
Odaily report: Drift, a Solana-based on-chain trading platform, revealed in a post that it plans to launch the FUEL airdrop in May 2025. Drift launched its native token DRIFT in May, and FUEL is the reward program announced by the Drift protocol in July 2024.
This program marks the second season airdrop of DRIFT. Drift stated that FUEL will help coordinate incentive measures and drive the growth of the protocol.
It is understood that one of the team's top priorities this year is to develop Drift into a super protocol, focusing on lending, derivatives, prediction markets, automated market making, and wealth management.
Usual hints at opening the token fee switch
Odaily report: Usual posted on X, stating: "The era of the fee switch begins. 2025 marks the turning point of DeFi: true value, true distribution. On January 7, get ready for your USUAL. A new year, a new standard." This suggests that the token fee switch will be opened.
Odaily report: Usual posted on X that yesterday afternoon at 5 pm Beijing time, the Usual protocol experienced a large-scale USD 0 sell-off triggered by a whale's trade in the secondary market. This event raised doubts about the peg ability of USD 0. USD 0 briefly fell to $0.99 and then quickly returned to $1, although there was a deviation of a few bps due to the ongoing sell-off, but it fully recovered the peg within a few hours.
The official stated that USD 0 can always be redeemed at a 1:1 ratio with its underlying collateral, ensuring the solvency of the Usual protocol. This redemption is handled through a smart contract, and currently, any whitelisted entity can access it. The ultimate goal is to make it completely permissionless, but a comprehensive review will be conducted before granting open collateral access.
Currently, all USD 0 can be redeemed on a T+0 basis and are supported by highly liquid short-term money market instruments. Although under pressure, Usual's underlying infrastructure and model have proven to be robust, the peg has been restored, and there is now ample instant liquidity available for arbitrage.
Overall, this event was the first major stress test of the USD 0 peg, with the redemption amount exceeding the entire TVL of GHO within a few hours, but everything is back to normal. The team will continue to improve the process, increase efficiency, and will soon release a series of updates.
Odaily report: Shiba Inu (SHIB) lead developer Shytoshi Kusama shared the latest progress on the upcoming TREAT on X. TREAT is the fourth and final official token in the Shiba Inu ecosystem. With the early access phase of SHIB: The Metaverse launching on December 25, Kusama's recent statements indicate that TREAT is expected to be the focal point of the Shiba Inu roadmap in early 2025.
Kusama revealed the functions of TREAT on X: "What if there was a way to provide transaction rewards for participation and access through a token? What if it became the pillar that powers an operating system for the Network State, and global adoption could solve many of the world's problems? If so."
This statement suggests that TREAT is not just another tradable asset in the Shiba Inu ecosystem, but a multi-faceted token aimed at incentivizing participation, granting access to advanced features, and nurturing what he calls the "Network State". (Bitcoinist)
Odaily report: Seraph's "Darkest Angel" announced today that its foundation has been officially established, marking a new stage in its journey in the Web3 gaming sector. As a 3A-level blockchain game that integrates gaming, blockchain, and AI technology, Seraph, through its decentralized economic model and dynamic gaming experience, brings an unprecedented immersive interaction for players. The official revealed that Seraph's TGE is in the countdown stage, further driving innovation and development of the Web3 gaming ecosystem. Stay tuned for more updates.
Investments and Financing
071 Labs announces investment in Web3 AI game publisher Pentagon Games
Odaily report: According to official information, the Web3 blockchain incubator and investment firm 071 Labs has announced a strategic investment in the Web3 AI game publisher Pentagon Games and reached a partnership, with the specific amount undisclosed. The new funding is intended to support its integration of zkEVM, Web3, and AI technologies.
Regulatory Policies
The IRS releases temporary crypto tax relief measures that will benefit CeFi exchange users in 2025
Odaily report: The Internal Revenue Service (IRS) has issued a temporary relief measure that is expected to benefit CeFi exchange users in 2025. This relief measure addresses concerns raised by the final version of the Section 6045 broker regulations, which will take effect on January 1, 2025, and require the use of the first-in, first-out (FIFO) accounting method for digital assets, unless a preferred method like highest-in, first-out (HIFO) or Spec ID is chosen.
Cointracker's tax strategist Shehan Chandrasekera explained the issue, emphasizing that "by January 1, 2025, almost all CeFi brokers will not be ready to support Spec ID." This lack of preparedness will force many cryptocurrency holders to default to the FIFO accounting, potentially resulting in a higher tax burden when selling assets. He described: "In a bull market environment, this could be disastrous for many taxpayers, as you will inadvertently sell the earliest purchased assets (often with the lowest cost basis) first, while unknowingly maximizing your capital gains."
The IRS's temporary relief allows taxpayers to continue using their own records or tax software to identify the specific units being sold. The relief period only applies to CeFi transactions from January 1, 2025, to December 31, 2025. After that date, taxpayers will need to formally choose an accounting method with their brokers. Chandrasekera also emphasized the importance of synchronizing tax software with broker settings. (Bitcoin.com)
Ten regions in Russia ban cryptocurrency mining altogether
Here is the English translation:Odaily report: On January 1, 10 regions in Russia fully banned cryptocurrency mining, and another 3 regions partially banned it. The government decree, passed on December 23, stipulates a full ban on mining from January 2025 to March 2031, and in the other 3 regions, partial restrictions on mining during each heating season (November 15 to March 15 of the following year, except for the first year starting from January 1, 2025) before 2031.
Russian Deputy Prime Minister Alexander Novak said at the end of December that the number of regions banning cryptocurrency mining could increase if requests are received from governors. The authorities of the Republic of Khakassia have already requested the Ministry of Energy to restrict mining activities in the region.
Personalities & Voices
Odaily report: Galaxy Ventures predicts that crypto M&A activities will surge in 2025 as fintech, banking and tech companies return to the crypto space. Galaxy Ventures general partner Will Nuelle said that stablecoins and payments actually impact real fintech businesses, so we expect M&A to happen mainly there. Nuelle also expects IPO activities to resume as regulatory transparency in the US improves, creating more opportunities for crypto companies to enter the public market.
VanEck research head: VanEck holds 9% of its Bitcoin ETF's circulating shares
Odaily report: VanEck Digital Assets Research Head Matthew Sigel said that VanEck holds 9% of the circulating shares of its own Bitcoin ETF, with more shares in cold storage.
Mechanism Capital partner: 2025 will be the year of AI agents
Odaily report: Mechanism Capital partner Andrew Kang wrote in X that "2025 will be the year of AI agents, 2026 will be the year of humanoid robots, and 2027 will be the year of human-AI fusion."
Aave co-founder Stani: Bullish on Ethereum's performance in 2025
Odaily report: Aave co-founder Stani wrote that Ethereum will have a good start in 2025. The Pectra upgrade will allow EOAs to run like smart contracts, making smart wallets more scalable and providing better user experience and security for users. The introduction of blob space will also significantly enhance scalability. These will be achieved through dynamic adjustments of blob limits at the consensus layer, improving Ethereum's data availability scalability (mainnet and L2). Pectra is the biggest upgrade in terms of included EIPs, representing an important step forward. Bullish.
