PA Daily | The eight Meme coins in the top 500 by market capitalization fell by more than 50% monthly; fake news about Usual’s cooperation with DOGE caused USUAL to break through $1.6
Reprinted from panewslab
12/20/2024·5MToday’s news tips:
Metaplanet issues 5 billion yen in ordinary bonds to accelerate Bitcoin purchases
Bitcoin spot ETF saw a net outflow of US$680 million in a single day, a record high
The Mt.Gox address transferred nearly 720 BTC, worth approximately US$69.87 million
DuckChain completed US$5 million in financing, with participation from DWF Ventures and others
CZ says Revolut has listed BNB
The Ethereum Foundation sold ETH 32 times in the past year, and 15 times were close to highs
regulatory news
Crypto.com renews cooperation agreement with F1 until 2030
According to official information from Formula 1, the cooperation agreement between Crypto.com and F1 has been extended until 2030. This cooperation will begin in 2021. During this period, F1's cumulative TV audience has reached 1.5 billion, global fans have reached 750 million, and Crypto.com's user base has also grown to more than 100 million. Under the new agreement, Crypto.com will focus on creating unique experiences for fans across multiple Grand Prix events, while continuing to serve as the official title partner of the F1 Crypto.com Miami Grand Prix. It is reported that the Formula 1 competition began in 1950 and is the most prestigious racing competition in the world and the most popular annual sports event in the world.
U.S. SEC approves Hashdex’s launch of Nasdaq Bitcoin and Ethereum Crypto Index ETF
According to documents released by the U.S. Securities and Exchange Commission (SEC), the SEC has approved the listing of Hashdex Nasdaq Crypto Index US ETF and Franklin Crypto Index ETF. The funds will be listed on the Nasdaq and Cboe BZX exchanges respectively, allowing investors to invest indirectly in Bitcoin and Ethereum through traditional financial markets. The approval includes comprehensive market monitoring protocols to prevent fraudulent and manipulative practices.
Animoca Brands announces financial and business highlights for Q2 and Q3 2024
Animoca Brands announces financial and business highlights (unaudited, non-IFRS measures) for the years ended June 30 and September 30, 2024. The company's Q2 and Q3 scheduled revenue reached US$48 million and US$69 million respectively, with a cash and stablecoin balance of US$248 million, a current digital asset value of US$330 million, and an off-balance sheet token asset reserve of US$1.6 billion. MOCA tokens were launched on Upbit and Bithumb in December, with a 24-hour transaction volume exceeding US$2 billion and Mocaverse users reaching 1.8 million. The number of active wallets on the Open Campus education chain test network reached 1.8 million, and the transaction volume exceeded 67 million; The Sandbox Alpha Season 4 promoted a 350% increase in SAND tokens; GAMEE’s monthly active users reached 16 million. In 2024, the company realized US$28 million in revenue from token investments and continues to invest in more than 530 projects.
Metaplanet issues 5 billion yen in ordinary bonds to accelerate Bitcoin purchases
Japanese listed company Metaplanet Inc. announced that it will issue 5 billion yen of the fifth series of ordinary bonds through private placement, and the proceeds will be used to purchase Bitcoin. Repayment of these funds is expected to be completed through proceeds from the exercise of Series 12 stock acquisition rights. The bonds will not pay interest and are scheduled to mature on June 16, 2025, with holders able to redeem part or all of the bonds early. The company said the issuance will have limited impact on its financial results as of December 31, 2024.
A report from blockchain security company Blockaid shows that about 59% of cryptographic tokens launched in 2024 have been identified as "malicious tokens." Of these, 27% involved “rug-pull” scams. The growth of these malicious tokens is related to the trend of highly sought-after meme tokens in the market. There are currently 10 meme tokens with a market value of more than $1 billion, attracting a large number of imitators to issue similar tokens on chains such as Ethereum, Base and Solana. currency. Despite this, losses due to crypto scams and hacks have dropped significantly from $5.6 billion last year to $1.4 billion in 2024. This data is based on Blockaid’s on-chain detection and response platform, which analyzed 2.41 billion transactions, 780 million dApp connections, and 220 million tokens.
Financing
DuckChain completed US$5 million in financing, with participation from DWF Ventures and others
DuckChain, the TON ecological consumption layer, announced the successful completion of US$5 million in financing. Investors include DAO5, Offchain Labs, Kenetic Capital, DWF Ventures, Oak Grove VC, Skyland VC, Geek Cartel, Gate.io, Presto Labs, etc. In addition, angel investors from well-known projects such as CamelotDEX and Quantstamp also participated in this round of financing.
DuckChain plans to use the funds to unleash the on-chain potential of more than 30 million Telegram Star users through TON-based EVM solutions. At the same time, DuckChain also launched the "Yellow Duck Mission" hackathon, with a total prize pool of US$1 million, and partners include Wallet, Arbitrum and OnePiece Labs.
Project news
AltLayer received 1 million EIGEN tokens, all of which will be returned to the community
According to AltLayer’s official announcement, the Eigen Foundation provided it with a grant of 1 million EIGEN tokens in recognition of its contribution to the EigenLayer ecosystem. AltLayer announced that all tokens will be used to give back to the community: • The first batch of 500,000 EIGEN tokens: distributed to reALT holders and stakers starting this week, with a snapshot period from May 9 to December 12, 2024. • The remaining 500,000 EIGEN tokens: will be distributed after Eigen Layer’s V2 reward mechanism is launched on the mainnet in 2025. Users can collect it through the only official website stake.altlayer.io, and the collection time is from 11:00 on December 20, 2024 to 11:00 on February 20, 2025, Beijing time.
Coinbase has suspended wBTC trading, WBTC team issued response
According to Coinbase's announcement, it will suspend trading of wBTC (Wrapped Bitcoin) at around noon Eastern Time on December 19, 2024, including Coinbase.com, Coinbase Exchange and Coinbase Prime platforms. Users’ wBTC funds can still be withdrawn at any time. In this regard, the WBTC team expressed regret and surprise, saying that it has been committed to providing compliant, transparent and decentralized Bitcoin tokenization products. The team emphasized that WBTC has a leading position in transparency and decentralization and is deeply integrated with multiple DeFi protocols to make important contributions to the development of the ecosystem. At the same time, the team called on Coinbase to reconsider the decision and promised to provide more information to address any concerns.
According to Robinhood’s official announcement, the cryptocurrency $BONK has been officially launched on its trading platform. Users can now trade through Robinhood Crypto.
CZ says Revolut has listed BNB
Binance founder CZ said on social media that financial technology giant Revolut has listed BNB. He revealed that he had just learned the news and said that the community is growing.
Binance postpones the delisting of OMG/USDT perpetual contract
Binance announced that it will further postpone the delisting time of the USDⓈ-M OMGUSDT perpetual contract to 17:00 on January 31, 2025 (Beijing time). At that time, the platform will automatically settle the contract and then delist it.
According to James Fishback, Vivek Ramaswamy, co-leader of DOGE, the U.S. government efficiency department, had his account compromised by hackers and issued a false statement claiming that the DOGE department had partnered with stablecoin issuer USUAL to reduce the federal fiscal deficit and promote crypto. Currency Initiative. Fishback confirmed that this statement was false news and Vivek has been locked out of his account. Binance quotes show that USUAL briefly exceeded $1.6 and is now trading at about $1.51.
OKX will launch FARTCOINUSDT and AI16ZUSDT perpetual contracts
OKX announced that it will launch the FARTCOINUSDT and AI16ZUSDT perpetual contracts from 17:00 to 17:15 pm on December 20, 2024 (UTC+8). Users can trade through the web page, App and API. FARTCOIN is the token mentioned by the autonomous chatbot Truth Terminal created by artificial intelligence researcher Andy Ayrey; AI16Z is the world's first venture capital company led by AI agents, dedicated to connecting AI entrepreneurs and investors to promote the rapid development of the ecosystem develop.
point of view
Murad: Watch out for resilient Meme coins, which may do well in 2025
According to statistics from Meme ecological KOL Murad, the prices of various Meme coins have generally fallen sharply in the past 30 days. Among them, LUCE, GINNAN and SKBDI fell by 76%, 65% and 56% respectively, while SPX6900 became a few exceptions, rising 33% in the past 30 days. Additionally, GIGA and MOG recorded 30-day gains of 25% and 1% respectively.
It said that for Memecoin, whose price has fallen in the past week, investors should pay special attention to those tokens that have performed the strongest. He noted that the communities of these tokens may have more “diamond hand” holders (long-term staunch holders), which means they have greater future potential and may perform well in 2025.
Spartan Group issued an analysis that in the 2024 U.S. presidential election, Trump not only won the election with an overwhelming advantage, but the Republican Party also controlled the Senate and House of Representatives. This victory provides significant leverage to push for policy changes that are expected to be very positive for the crypto industry over the next 12 months.
The article points out that what is different about this election is the importance of the encryption agenda. Trump and his core advisers are crypto-friendly, and crypto companies have provided significant support in the election. In addition, Trump expressed his hope that the United States will become a global encryption center. Currently, the United States is already a leader in crypto infrastructure, mining, and trading, but the new administration’s policies could further solidify this position.
Historical data shows that the 12 months following the U.S. election are typically a period of strong performance for cryptoassets. The combined effect of the policy clarity brought by the election results and the BTC halving cycle may push market sentiment towards risk appetite, which is particularly beneficial to the performance of small and medium-sized tokens. Spartan Group believes that as the “copycat season” approaches, the crypto market will see more room for growth in the coming year.
According to analysis by Greeks.live analyst Adam, BTC has recently corrected after failing to hit $110,000, clearing out some leveraged long positions, while the adjustment of altcoins has continued for nearly a month. According to past bull market experience, a sharp correction in Bitcoin may trigger a "copycat season", but the intensity of the correction is currently unclear.
As Christmas and annual delivery approach, ETF funds have significantly outflowed, and market makers continue to adjust their positions. Recently, the proportion of large call option transactions has averaged over 30% per day. After more than 40% of options expire at the end of the year, the large amount of margin released is expected to drive the implied volatility down, and the cost-effectiveness of buying options in the coming week may significantly improve. Prior to yesterday’s news, Deribit: BTC options and ETH options with a total nominal value of approximately US$2.7 billion will expire tomorrow.
Ki Young Ju, founder of CryptoQuant, pointed out that Bitcoin’s dominance rate recently fell by 6%, of which XRP accounted for 3% of the contribution, and the dominance rate is now recovering.
He said that only a few altcoins have attracted new liquidity, and the rotation of BTC into altcoins is limited. This is not an "altcoin season" in the traditional sense, but more like a season of individual altcoins with outstanding performance.
important data
According to coinmarketcap data, 10 tokens among the top 500 cryptocurrencies by market capitalization have fallen by more than 50% in the past 30 days, 8 of which are Meme coins. The specific data are as follows: Magic Eden (ME) fell 72.88% and is now quoted at $3.07. ; Peanut the Squirrel (PNUT) fell 59.75% and is now quoted at $0.6628; Goatseus Maximus (GOAT) fell 58.30% and is now quoted at $0.4799; Department of Government Efficiency (DOGE) fell 56.60% and is now quoted at $0.1015; Popcat (SOL) (POPCAT) fell 55.57% and is now quoted at $0.7724; Just a chill guy (CHILLGUY) ) fell 53.90% and is now quoted at $0.1811; XION (XION) fell 52.93% and is now quoted at $3.30; Ponke (PONKE) fell 52.76% and is now quoted at $0.3369; Neiro (Neiro On Ethereum) (NEIRO) fell 52.11% and is now quoted at $0.0009805; Sudeng (HIPPO) fell 51.50% , the current price is $0.009632.
The Mt.Gox address has just transferred out nearly 720 BTC, worth approximately US$69.87 million
Arkm data shows that at 9:07 Beijing time, Mt. Gox transferred 719.568 $BTC to two new wallet addresses, worth approximately $69.87 million.
According to Sing Tao Daily, people in the virtual asset industry in Hong Kong said that the development of virtual assets in Hong Kong is in its early stages and they are not worried about market competition. Instead, they believe that more participants will join in. According to HashKey estimates, there are currently only about 100,000 active cryptocurrency users in Hong Kong. The market size is relatively small, and most of the market has been occupied by existing licensed platforms. New entrants need to face high operating costs and face It may be difficult to seize the market. It is expected that competition in Hong Kong’s virtual asset industry will be low in the future.
El Salvador wallet address holds 11 Bitcoins worth $1.07 million
On-chain data shows that at 8:07 Beijing time, the El Salvador wallet address purchased 11 Bitcoins worth US$1.07 million for its strategic Bitcoin reserve. It was reported yesterday that El Salvador officials will accelerate the purchase of Bitcoin as a strategic reserve. The official Bitcoin wallet Chivo will be sold or discontinued. Due to the US$1.4 billion loan agreement with the IMF, Bitcoin payments will become voluntary.
World Liberty purchased 722.2 ETH for $2.5 million 1 hour ago
According to Onchain Lens monitoring, one hour ago, Trump's World Liberty (@worldlibertyfi) used $2.5 million USDC to purchase 722.2 ETH, and the average price of a single transaction was $3,461.
The Ethereum Foundation sold ETH 32 times in the past year, and 15 times were close to highs
According to Lookonchain monitoring, since the Ethereum Foundation sold 100 ETH on December 17, the price of ETH has fallen by approximately 17%. In the past year, the Ethereum Foundation conducted a total of 32 ETH sales transactions, selling a total of 4,466 ETH (approximately $12.6 million), 15 of which were close to market highs.
Hyperliquid’s 24-hour trading volume exceeds $13 billion, a record high
According to official news, the 24-hour trading volume of the Hyperliquid platform exceeded US$13 billion for the first time, setting a record high.
Bitcoin spot ETF saw a net outflow of US$680 million in a single day, a record high
According to SoSoValue data, on December 19, Eastern Time, the Bitcoin spot ETF had a single-day net outflow of US$680 million, a record high. Among them, the Grayscale ETF GBTC had a single-day net outflow of US$87.8625 million, and the historical cumulative net outflow was US$21.236 billion; the Grayscale Bitcoin Mini Trust ETF BTC had a single-day net outflow of US$189 million, but the historical cumulative net inflow was still US$853 million. Dollar. In contrast, WisdomTree ETF BTCW had a net inflow of US$2.0474 million yesterday, and its historical cumulative net inflow reached US$229 million. As of now, the total net asset value of Bitcoin spot ETFs is US$109.655 billion, accounting for 5.74% of the total market value of Bitcoin, and the historical cumulative net inflow is US$36.329 billion.
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