I. Attention Value - Market Highlights
1. Market Situation
(1) Macroeconomic Environment:
l The Federal Reserve is reassessing the potential impact of the Trump administration's policies on the US economy and inflation, increasing uncertainty about the prospect of future rate cuts.
Renowned journalist Nick Timiraos pointed out in The Wall Street Journal that the Federal Reserve is reassessing the potential impact of the Trump administration's policies on the US economy and inflation. Insiders revealed that Fed Chair Powell is dissatisfied with the public statements of some officials, believing they have directly linked the Fed's policies to changes in Trump's policies. The market currently generally expects the Fed's future rate cuts to be slower and more cautious. Analysts point out that the prospect of the Fed cutting rates by 2025 is highly uncertain, and investors need to be prepared for the potential economic turmoil caused by the Trump administration. According to CME data, the probability of the Fed keeping rates unchanged in January 2020 is 87.2%, and the probability of a 25 basis point rate cut is 12.8%. By March 2020, the probability of keeping the current rate unchanged is 50.6%, the probability of a 25 basis point rate cut is 44.1%, and the probability of a 50 basis point rate cut is 5.4%.
(2) Web3 Sector:
l Bitcoin fell below $95,000 again, with market sentiment and capital outflows intensifying.
The cryptocurrency market continues to fluctuate downward, with Bitcoin opening a new round of declines last night, reaching a low of $93,000, a new low in nearly a week. According to Coinglass data, the funding rates of mainstream centralized exchanges (CEX) and decentralized exchanges (DEX) indicate that the market is generally bearish. At the same time, the Bitcoin spot ETF experienced net outflows of $287 million on Friday, and the cumulative net outflows last week were $376 million. During the market adjustment period, tokens on CEX platforms have performed relatively well, while the hype around AI Agents is still ongoing, with significant capital inflows.
2. Hot Events
(1) Macroeconomic Environment:
l a16z Crypto opposes new US Treasury rules, saying they threaten the future of DeFi innovation.
a16z Crypto's head of policy, Michele Korver, posted on social media expressing the company's confidence in DeFi, believing that DeFi will make financial services and the digital economy more convenient, efficient, interoperable, reliable and consumer-centric. However, Korver pointed out that the new broker reporting rules recently issued by the US Treasury Department pose a direct threat to this vision and may hinder the future of DeFi innovation in the US. a16z Crypto supports the lawsuit filed by the Blockchain Association, the DeFi Education Fund, and the Texas Blockchain Council, arguing that the IRS and Treasury Department have exceeded their statutory authority, violated the Administrative Procedure Act (APA), and may be unconstitutional. Korver emphasized that a16z will continue to fight to protect the future of DeFi in the courts, Congress, and the new administration.
(2) Web3 Sector:
l The Malaysian Securities Commission takes action: Bybit ordered to cease operations for not being registered.
The Malaysian Securities Commission has taken strict enforcement action against the cryptocurrency exchange Bybit and its CEO, as the platform was operating a cryptocurrency asset trading business in the country without proper registration. The regulator stated in a Friday announcement that Bybit must immediately cease its operations on its website, mobile app, and other digital platforms in Malaysia, and complete the rectification within 14 working days starting December 11. In addition, Bybit is required to terminate all advertising activities targeting Malaysian investors and close its Telegram group providing support to local users.
The regulator stated that this decision is based on concerns about whether the platform meets local regulatory requirements and protects investor interests. According to Section 7(1) of the 2007 Capital Markets and Services Act, operating a digital asset exchange (DAX) without being a registered market operator (RMO) recognized by the Securities Commission is illegal. As early as July 2021, Bybit and its CEO were included in the Securities Commission's investor alert list for similar violations.
3. Hot Narratives
l The AI agent market is bucking the trend, with ai16z's market cap hitting a new high.
AI agents have once again attracted widespread attention. According to SoSoValue data, although the overall cryptocurrency market has retreated, the AI agent sector has bucked the trend, with a 24-hour increase of 1.54%. ai16z recently released a proposal on token economics, with key content including focusing on innovations in the Eliza framework and multi-chain integration during the Launchpad phase in Q1 2025, to increase launch fees and staking value capture mechanisms. The second phase aims at ecosystem growth and incentive synergy, aiming to increase the interconnectedness of ai16z tokens and incentivize developers through buybacks and ecosystem funds. Subsequently, ai16z's market cap briefly soared to $1.5 billion, a new all-time high, reflecting the market's recognition of the potential of AI agents.
II. Attention Value - Hot Projects
1. Project Introduction
l $SLINKY | ZK | @Slinky_Sol
- Narrative: The largest airdrop of SOL, representing a breakthrough in Solana token technology.
- $SLINKY reached a market cap of over $10 million within half an hour of its launch yesterday, before retracing to $7 million and currently standing at $11 million.
- 10% of the total supply will be distributed to wallets holding more than 0.006 SOL during the snapshot on August 30th, reaching a total of 27,775,857 wallets. The use of ZK Compression enables true large-scale distribution. Traditional airdrop methods would require 55,550 SOL in gas fees, while Slinky's technology only needs 22.2 SOL.
III. Attention Value - Sector Rotation
1. Hot Sectors
Source: Dune, Dot Labs
Source: Dune, Dot Labs
2. Sector Rotation
Source: Dune, Dot Labs
