PA Daily | NFT trading volume fell by about 50% in the past week; Siqi Chen, the largest holder of MIRA, has locked about 1/3 of the assets held for one year
Reprinted from panewslab
12/29/2024·4MToday’s news tips:
1. El Salvador’s Bitcoin reserves reach 6,000, worth approximately US$569 million
2. The Italian Parliament passed the 2025 budget and the cryptocurrency tax rate will be increased to 33% in 2026
3. Siqi Chen, the largest holder of MIRA: has locked approximately 1/3 of the assets held for one year
4. Modular blockchain Sophon completes mining migration and opens mainnet mining
5. The transaction volume of NFT dropped by about 50% in the past week, among which the transaction volume of “Pudgy Penguins” dropped by 76.65%.
6. The market value of artificial intelligence tokens has dropped to the US$50 billion range, down approximately 28% from the peak in early December.
7.ai16z founder: ai16z does not have any control over AI Pool and cannot access the private key
8. The whale that received 200,000 ETH from the genesis block transferred 3,370 ETH to Kraken 9 hours ago
regulatory news
The Italian Parliament passes the 2025 budget, raising the cryptocurrency tax rate to 33% in 2026
According to Golden Ten reports, the Italian Parliament finally approved the 2025 budget just days before the end of the year deadline, which was an important victory for Prime Minister Meloni. Meloni and her Finance Minister Giorgetti worked together to develop a tax cut package aimed at winning the support of voters while complying with EU fiscal rules. The government plans to reduce the national deficit to 3.3% of GDP next year and below the EU limit of 3% in 2026. Among the last-minute tweaks to the budget were the decision to maintain the cryptocurrency tax rate at 26% in 2025 and increase it to 33% in 2026, instead of the 42% originally proposed. The Italian Prime Minister's pledge to cut taxes for low- and middle-income groups will help consolidate his position in power, but it also means that the pace of returning to fiscal stability will be slower by EU standards.
The decline in U.S. stocks on Friday dampened investor expectations for the so-called "Santa Claus rebound." As the New Year's Day holiday approaches, global financial markets may also tend to remain calm in the coming week. The U.S. ISM Manufacturing Purchasing Managers Index (PMI) may be the only focus of economic data next week, however any policy-related headlines about Trump may also stimulate market volatility. Here is what the market will focus on in the new week. Key points:
- Monday 23:30, US December Dallas Fed Business Activity Index
- Thursday 9:45, China’s Caixin Manufacturing PMI in December
- At 21:30 on Thursday, the number of initial jobless claims in the United States for the week to December 28
- Thursday 22:45, US December S&P Global Manufacturing PMI final value
- Friday 23:00, US December ISM Manufacturing PMI
If the economic data disapproves of the Fed, the dollar's gains may subside. Next week's initial jobless claims may also become a major driver of the dollar's trend. Any data that shows that the Fed is too cautious about inflation and too optimistic about the labor market will could cause the dollar's recent rally to unravel.
Project news
Founder of ai16z: ai16z does not have any control over AI Pool and cannot access the private key
In the latest interview, ai16z founder Shaw responded to the market attention caused by the AI Pool project that he has supported many times on social media. Shaw said that AI Pool was created by partner Skely, so it is mainly his project, but It's built on ElizaOS technology and showcases a pump.fun-like application flow, but one that happens in a fairer way on social media so users don't need to go elsewhere. This also demonstrates a truly autonomous agent that is completely autonomous - ai16z has no control over it and no access to private keys. You can't withdraw funds, you can't control it, it just runs autonomously.
CryptoQuant CEO: Bitcoin appears to be filling the ideological space once occupied by gold
Ki Young Ju, founder and CEO of CryptoQuant, posted on the Pay attention. In the late 1990s, Peter Schiff Advocating for gold as the true form of money, much like today's Bitcoin maximalists advocate for Bitcoin, these proponents, known as "gold bugs," want a return to the gold standard. However, despite the resurgence of interest during the economic crisis. But the United States has always avoided this shift, relying instead on creative solutions to sustain growth. The gold standard has been a relic of the past, and now Bitcoin seems to be filling the ideological space once occupied by gold. The idea behind the Bitcoin standard.
However, I doubt the United States will continue to grow and adopt Bitcoin as a strategic asset while the rest of the economy stagnates. For this debate to make significant progress, the United States needs to see a real threat to its global economic dominance. Currently, market sentiment indicates confidence in the United States' continued dominance. While it is conceivable that the U.S. government might purchase Bitcoin for risk management or economic leverage, the motivations may be much different than what Bitcoin holders imagine. The idea of buying Bitcoin in preparation for the Bitcoin standard or as a tool to defend the dollar system seems far removed from current reality. As global capital flows into the United States, many still believe the dollar's dominance is secure. Even before taking office, Trump repeatedly warned other world leaders about the power gap between the United States and other countries. Such rhetoric, coupled with increased capital inflows into the U.S. dollar, could revive confidence in U.S. dollar hegemony. Around me, many Koreans are choosing the U.S. dollar as a safe haven over gold or Bitcoin, especially if the Korean won depreciates.
If Trump succeeds in demonstrating the resilience of the U.S. economy, cementing the hegemony of the dollar, and boosting his approval ratings, it’s unclear whether he will continue the strong pro-Bitcoin stance he displayed during the campaign. He could easily abandon his advocacy for Bitcoin, citing changes in priorities, without alienating his voter base. There is no denying that Trump is a skilled politician capable of strengthening America's position. However, the extent to which he intends to implement his campaign rhetoric about Bitcoin remains uncertain. At the Bitcoin conference, Trump mentioned Bitcoin as a strategic asset. Is this a real step on his part to prepare for Bitcoin standards, or is it just a carefully planned move to gain votes? "
Ethena’s Berachain incentivized pre-deposit vault is live
Ethena Labs tweeted that Ethena’s Berachain incentivized pre-deposit vault is online and accepts USDe, sUSDe and USDC/USDT deposits. Concrete launches 2 Ethena pre-deposit vaults for Berachain launch deposit program. After the Berachain mainnet goes live, the pre-deposited vault will deploy liquidity on whitelisted protocols in the Berachain ecosystem. Deposits of USDe and sUSDe will be eligible for Ethena rewards, Concrete Points, BERA and native ecosystem rewards.
Modular blockchain Sophon completes mining migration and opens mainnet mining
Sophon, a modular blockchain based on ZKsync, stated that it has completed the mining migration and started the second phase (PHASE 2). Mainnet mining is now open.
According to previous news , the Sophon mining migration timeline was announced and mainnet mining will start on December 28.
Siqi Chen, the largest holder of MIRA: has locked approximately 1/3 of the assets held for one year
Siqi Chen, CEO and CFO of entrepreneurial finance platform Runway (the largest holder of MIRA), tweeted that about 1/3 of the assets held have been locked for one year, and the liquidation plan has also been suspended and based on the earlier advance notice It is promised that liquidations will begin at a slower rate of 50,000 MIRA per hour after 24 hours to maximize funding for rare disease research in the long term. We are still considering our next steps, but we reiterate our commitment to continue to use 100% of all token funds in wallets associated with MIRA at all times to support rare disease research (minus taxes). Porcelain Doll, is also working to put the remaining 80% of MIRA tokens into a lock or multi-signature wallet controlled by someone trusted by the community.
According to previous news , Siqi Chen gradually sold the Mira coins he received to donate to the Ccancer laboratory, and the market value of Mira once fell to US$14 million.
Mining company Blockware: Bitcoin may reach $150,000 to $400,000 in 2025
Cryptocurrency mining firm Blockware Solutions says the price of Bitcoin could quadruple to $400,000 by 2025, or in a worst-case scenario, under Donald Trump’s Strategic Bitcoin Reserve Plan and Federal Reserve policy down 58% to $150,000.
Blockware Solutions said in a market forecast report that a $150,000 bear market target is possible if Donald Trump "does not adhere" to the strategic Bitcoin reserve. Meanwhile, a bear market target is also possible if the Fed “further reverses” its rate cuts and long-term holders (those who have held BTC for more than 155 days) “actively” sell Bitcoin.
If these three factors align, Bitcoin prices could potentially reach a $400,000 “bull run.” First, as the overall consumer price index (CPI) declines, the Fed must adopt a "more dovish stance." Second, corporate adoption of Bitcoin must accelerate, with one of the “Big Seven” — Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia or Tesla — adding Bitcoin to their balance sheets. Finally, the U.S. government must not only convert its existing Bitcoin holdings into strategic Bitcoin reserves, but also accumulate more Bitcoin.
important data
CoinMarketCap data shows that the market value of artificial intelligence cryptocurrencies hit $50.5 billion, down about 28% from the peak of $70.4 billion set on December 7. Cumulative trading volume surrounding AI tokens has also declined, falling by nearly 11% in the past month, indicating a decline in traders’ interest in AI cryptocurrencies. However, a growing number of analysts are predicting an altcoin season in 2025, when Bitcoin profits may flow into small-cap cryptocurrencies including artificial intelligence tokens.
El Salvador’s Bitcoin reserves reach 6,000, worth approximately US$569 million
According to the portfolio tracking data of El Salvador’s National Bitcoin Office, as of December 29, the country’s Bitcoin holdings have increased to 6000.77 Bitcoins and are currently worth $569.3 million. The latest purchase brings El Salvador’s Bitcoin investment return to 108.02%, with the average purchase price being $45,450.
CryptoSlam data shows that the NFT market has experienced a sharp correction in the past week, with total transaction volume plummeting 49.77% to $152.7 million. Despite the sharp decline in trading volumes, market participation indicators show continued interest from new and existing traders. The number of NFT buyers increased by 50.97% to 531,208, and the number of NFT sellers increased by 47.14% to 308,666.
Ethereum network NFT transaction volume fell 62% to $75.3 million. Despite the decline in transaction volume, the network still had 63,054 buyers, an increase of 42.91%. Bitcoin network NFTs also showed a similar trend, with transaction volume falling by 30% to $28 million. However, the network experienced strong user growth, with the number of buyers reaching 59,311, an increase of 52.13% compared to the previous period. Solana Network NFT maintained its third position despite a 58.71% decline in transaction volume to $13.9 million. The network continues to show strong user engagement, with the number of buyers reaching 180,111, an increase of 68.43%.
Pudgy Penguins transaction volume plummeted 76.65% to $12.6 million, and buyer participation dropped 69.92%. Despite a 41.94% decline in transaction volume, Azuki still jumped to second place with a transaction volume of $9.3 million. The transaction volume of BRC-20 NFT dropped by 30.68% to third place at $6.5 million.
Notable deals this week include:
- Azuki #3535 sold for $427,000 (125 ETH)
- CryptoPunks #6797 sold for $159,792 (49 ETH)
- CryptoPunks #3017 sold for $156,815 (47 ETH)
- CryptoPunks #704 sold for $156,488 (46 ETH)
- CryptoPunks #5792 sold for $155,949 (45.9849 ETH)
According to on-chain analyst Ember Monitoring, a whale that received 200,000 ETH from the Ethereum genesis block in 2015 transferred 3,370 ETH ($11.37 million) to Kraken 9 hours ago.
He transferred a total of 48,687 ETH (US$171.78 million) into Kraken this year, with an average transfer price of US$3,528. After eight years of successive sales, there are currently 7,594 ETH ($25.72 million) left.
Two whales bought a total of 4.47 million ai16z today
According to Lookonchain monitoring, two whales are buying ai16z, buying a total of 4.47 million ai16z:
- AVLKwK...x1Mv spent 3.71 million USDC to purchase 2.96 million ai16z today, at a price of about $1.253.
- 65FwXv...T4HE spent 10,000 SOL ($1.88 million) today to buy 1.51 million ai16z for about $1.247.
According to Onchain Lens monitoring, after 9 months of accumulation, a whale has deposited 5.76 million ONDO into Coinbase, worth US$8.31 million, and made a profit of more than US$3.54 million.
A new wallet withdrew 2,700 BTC from Binance in the past 14 hours, worth $256.35 million
According to Onchain Lens monitoring, a new wallet accumulated 2,700 BTC from Binance in the past 14 hours, worth $256.35 million.
According to monitoring by on-chain analyst @ai_9684xtpa, a certain whale that invested US$10 million in ai16z in the past month has now made a profit of US$16.58 million, with a return rate of 166%. Since November 28, he has accumulated 19.83 million ai16z at an average price of US$0.5039, accounting for 1.8% of the total token supply. He only buys but does not sell. He is currently a TOP7 holding address.
