24 H Hot Cryptocurrencies
1. Hot Cryptocurrencies on CEX
Top 10 CEX Trading Volume and 24-Hour Price Change:
BTC: + 4.38%
ETH: + 4.04%
XRP: + 2.9%
SOL: + 3.72%
DOGE: + 4.71%
BNB: + 1.83%
PEPE: + 6.76%
SUI: + 12.23%
LINK: + 2.84%
ADA: + 5.57%
24 H Gainers Ranking (Data from OKX):
VELO: + 31.75%
PRQ: + 23.79%
CETUS: + 23.68%
PRCL: + 23.19%
LOOKS: + 22.49%
FTM: + 18.96%
AUCTION: + 17.2%
STX: + 16.96%
ONDO: + 14.76%
BORA: + 14.56%
2. Top 5 On-Chain Meme Coins (Data from GMGN):
CAPA
OBSIDYX AI
AQN
Eidolon
LAMBROS
3. Today's Hot Cryptocurrencies
DRUGS: A Meme Coin on the Solana mainnet, issued by the Big Pharmai team on daos.fun, a community-led decentralized science (DeSci) project aiming to disrupt the pharmaceutical industry. DRUGS currently has a market cap of $46 million and a 24H price increase of 88.4%.
VELO: The #1 gainer on OKX in the past 24 hours, Velo is a decentralized settlement network aiming to enable digital credit issuance and borderless asset transfer for its business partners. VELO currently has a market cap of $263 million.
Headlines
Goldman Sachs believes that the Fed's rate cut in December is a certainty, followed by consecutive 25bps cuts in January and March 2025; with further cuts only in the June and September meetings. However, there are still some uncertainties, as more and more Fed officials have indicated that the FOMC may slow the pace of rate cuts earlier, so there is a risk of a pause in rate cuts at the January meeting.
PENGU Token Reportedly to Be Launched Within the Next 48 Hours
According to Waleswoosh, an anonymous researcher on the Azuki NFT series who previously disclosed OpenSea's registration of a foundation in the Cayman Islands, the PENGU token is reportedly to be launched within the next 48 hours. Most reports about other NFT community airdrops are mostly false, and the airdrop ratios for Pudgy Penguins and Lil Pudgys are close to last week's market valuation, but the role of Pudgy Rods has not yet been confirmed.
However, Waleswoosh emphasized that this information is based on disclosures from sources familiar with the matter, and the Pudgy Penguins official team has not yet officially confirmed this. Therefore, this news should be treated with caution. According to OpenSea data, the floor price of Pudgy Penguins has risen to 34 ETH, up 17% in the past 24 hours.
Peanut Owner Allegedly Sues Binance for Unauthorized Use of Intellectual Property
Peanut owner @Squirrel_Dad 12 posted on X that "My legal team has filed a lawsuit against Binance, alleging unauthorized use of my intellectual property, including images and stories featuring my beloved animal. This is the first of several cease and desist letters. I am committed to protecting my creative works and sending a clear message: unauthorized use of my intellectual property will not be tolerated."
It should be noted that this account may have been hacked (similar to the CHILLGUY owner).
Industry News
MicroStrategy Stock Price Up Nearly 500% YTD, May Aim to Join S&P 500 Index Next Year
MicroStrategy's stock price has risen nearly 500% so far this year, with a current market capitalization of around $98 billion, far exceeding the value of its 423,650 BTC holdings (slightly less than $43 billion at current prices). Since September 12, the company has purchased an additional 197,150 BTC, significantly increasing its holdings and pushing up its cost basis.
Bernstein analysts stated that after being included in the Nasdaq-100 index, the company may set its sights on joining the S&P 500 index by 2025. However, the company's lack of profitability in its enterprise software business may make it more difficult to be included in the index. As the Bitcoin strategy has become the core of the company's activities, the enterprise software business has gradually been sidelined.
Previously, crypto-friendly U.S. Representative French Hill of Arkansas defeated three other candidates to win the chairmanship of the Financial Services Committee. Hill currently serves as the committee's vice chair and chairs the Digital Assets, Financial Technology and Inclusion Subcommittee, and he expressed his gratitude for the opportunity to serve as committee chair.
Hill's appointment has garnered support from crypto industry leaders and lawmakers. Former Acting Comptroller of the Currency and former Coinbase Chief Legal Officer Brian Brooks praised Hill's "intellect, growth mindset and innovation prospects". Ripple's Chief Legal Officer Stuart Alderoty emphasized Hill's potential to drive regulatory transparency for digital assets, stating: "As Chair of the Digital Assets Subcommittee, Rep. Hill is poised to lead the charge on regulatory transparency, building on the momentum from the last Congress on market structure and stablecoin legislation." Other figures in the crypto and finance space, including the Blockchain Association and the Digital Chamber, have also expressed their support for Hill's leadership.
The European Banking Authority (EBA) has published a report on tokenized deposits, concluding that from a regulatory perspective, tokenized deposits are essentially the same as traditional deposits. The agency plans to analyze the existing regulations to determine if they are adequate. It noted that since tokenized deposit activities have been limited so far, there is no urgent need for action. A survey in March only identified two projects, without specifying their names. According to the EBA's survey, 17% of EU banks plan to venture into tokenized deposits within the next two years.
Project News
Kraken's Blockchain Network Ink Previews Upcoming Mainnet Launch
Kraken's blockchain network Ink has previewed on X that its mainnet is about to launch.
Pudgy Penguins Parent's Abstract Chain to Launch Mainnet in January 2024
According to official information, Igloo, the parent company of Pudgy Penguins, has announced that its L2 network Abstract Chain will launch its mainnet in January 2024. Previous news reported that Igloo, the parent company of the Pudgy Penguins NFT project, has acquired the on-chain creator economy platform Frame, with the terms of the transaction yet to be disclosed. The Frame team will now be joining Igloo.
Arkham Exchange Points Season 2 Now Live, Season 1 Points Claiming Period to Be Announced Soon
Arkham has announced the completion of the Arkham Exchange Points Season 1 snapshot, and Season 2 is now live. Season 1 participants will receive a 50% reward based on their seasonal points. The Season 1 snapshot also includes points earned by VIPs under the Intel platform referral program, which has now ended. After thoroughly analyzing the snapshot to identify Sybil attackers, farmers, inactive user referrers, and other attempts to deceive the system, the team will announce the claim process date.
Season 2 participants will earn points by trading on the Arkham Exchange and referring new Arkham Exchange users who deposit at least $100.
DEXX: The latest version of the platform has opened the compensation entry
DEXX has announced on the X platform that the latest version of DEXX has opened the compensation entry. After upgrading to the latest version, users can find the compensation center on their personal page to confirm the damaged tokens. If there are any questions about the data, users can contact the online customer service within the App, and DEXX will record and manually verify the updates. DEXX has also added a red identifier for risk wallets as a reminder, and mobile users need to wait for the app store review to download the latest version.
Investment and Financing
Sei ecosystem lending protocol Yei Finance completes $2 million seed round, led by Manifold
The decentralized lending protocol Yei Finance has announced the completion of a $2 million seed round. The round was led by Manifold, with participation from DWF Ventures, Kronos Research, Outlier Ventures, Side Door Ventures, and WOO.
Tokenized data platform Inveniam receives investment from UAE's AI company G 42
According to official information, the United Arab Emirates artificial intelligence company G 42 has invested in the tokenized data platform Inveniam, with the specific amount undisclosed. Inveniam has raised over $120 million to date. G 42 has 25,000 employees across seven AI subsidiaries, with business spanning the energy sector, healthcare, and data centers.
Voices
This week, Microsoft investors rejected a proposal to purchase Bitcoin. Gracy Chen, CEO of crypto exchange Bitget, stated that this was expected, as most Microsoft shareholders likely value the software giant's asset stability, and said: "Microsoft's investment in Bitcoin could mean facing additional risks, while many invest in Microsoft because it is a predictable good business. For shareholders seeking to diversify their investment portfolios, incorporating crypto assets like Bitcoin into the company's balance sheet could complicate the company's valuation and distract from the core business that investors buy its stock for."
10x Research: Predicts BTC could reach $120,000 by Trump's inauguration
In its market analysis, 10x Research pointed out that the upward trend of Bitcoin has resumed after a brief consolidation. Crypto exchanges are experiencing massive capital outflows, greatly reducing the availability of Bitcoin on trading platforms. Meanwhile, OTC inventories are also insufficient. These factors collectively suggest that the Bitcoin price may receive a boost. Furthermore, according to its trading model indicators, the prediction is that Bitcoin could reach $120,000 by January 20, 2025, the date of Trump's inauguration.
CryptoQuant CEO: Bitcoin is unlikely to be cracked by quantum computers within 20 years
Ki Young Ju, founder and CEO of CryptoQuant, posted on the X platform that Bitcoin will not be cracked by quantum computers in this decade, and is unlikely to be cracked even in the next decade. Do not be deceived by those who do not know what they are talking about, and the baseless FUD.
Former Thai Prime Minister Thaksin: Suggests piloting Bitcoin use in Phuket
Former Thai Prime Minister Thaksin Shinawatra stated at a seminar that Trump may use Bitcoin to pay off U.S. debt, while emphasizing that this is not an encouragement for everyone to buy Bitcoin, but a reminder that it is a trend. There are already various cryptocurrencies emerging, and some say the number of currencies in the future may exceed the number of countries. Thai people must keep up with the times and understand these changes. Thaksin also suggested that the Prime Minister could instruct the Ministry of Finance to study the possibility of accepting Bitcoin in Thailand, such as by piloting its use in Phuket, so that Bitcoin holders can make payments locally.
Billionaire Chamath Palihapitiya: About 8,000 Google quantum chips could crack SHA-256
Billionaire Chamath Palihapitiya said in an online conference that about 8,000 Google quantum chips could crack SHA-256.
Earlier today, Chamath Palihapitiya posted on X that "Quantum computing will pose a risk to v1 encryption methods, but the timeline is highly uncertain and not in the near term."
CZ: Binance holds a small stake in the X platform
Binance co-founder CZ responded to a community question on X, "Can it now be considered that Binance owns a stake in the X platform?" CZ replied: "Holding a small stake."
