PA Daily | The Panic and Greed Index fell below 70 for the first time since October 24; Binance will launch PHA and DF perpetual contracts
Reprinted from panewslab
12/30/2024·4MToday’s news tips:
Binance will list PHAUSDT and DFUSDT 1-75x USDT perpetual contracts
Hamster Kombat will build L2 blockchain on TON chain
FLock announces token economics and airdrop plan: 66.7% allocated to community and ecosystem
The Panic and Greed Index fell to 65 today, a new low since October 15
Data: Bitget has destroyed 800 million BGB through 5 addresses, worth approximately US$5.2 billion
Regulation/Macro
Mining company Rhodium sells Temple Bitcoin mining farm for $40.6 million, co-CEO resigns
According to The Miner Mag, Bitcoin mining company Rhodium Enterprises completed the sale of its mine in Temple, Texas for $40.6 million in cash. The company’s co-CEO Nathan Nichols announced that he will resign in early 2025. Previously, the company's creditors had sued it and its co-founders for fraud. Rhodium said it used proceeds from the sale to repay $16 million in debt it acquired from Galaxy Digital and plans to restart its mining machine hosting operations at its Riot Rockdale facility. The mine auction was won by Temple Green Data LLC, which is associated with Rowan Digital Infrastructure but did not acquire the mine’s Bitcoin mining equipment. In addition, the court ruled that Rhodium's hosting contract with Riot's Whinstone US remains valid, allowing Rhodium to continue operating at the Rockdale facility.
According to the "China Financial Stability Report (2024)", global cryptocurrency regulation continues to increase. At present, 51 countries and regions around the world have introduced regulations prohibiting crypto assets, and some economies have adjusted their laws or re-legislated to regulate them. The report specifically mentions Hong Kong’s progress in cryptocurrency compliance, with its “dual license” system covering both security and non-security tokens. At the same time, the U.S. Securities and Exchange Commission (SEC) approved the listing of Bitcoin spot ETFs in January 2024, but the Chairman of the SEC stated that this did not mean that the SEC approved or recognized Bitcoin products, warning investors to be cautious about Bitcoin and other products related to Bitcoin. Products linked to crypto assets, highlighting their potential risks.
According to Handelsblatt, Christian Lindner, chairman of the German Free Democratic Party (FDP) and former finance minister, called on the European Central Bank (EZB) and the German Bundesbank to include cryptocurrencies such as Bitcoin in their reserves. He mentioned that the U.S. government is adopting an aggressive crypto-asset policy and studying whether the Federal Reserve should include cryptocurrencies in its reserves. Lindner said that Europe needs to avoid being surpassed by the United States in this area, and suggested that crypto assets be reviewed in Frankfurt as part of reserves to enhance the risk resistance of reserves. He emphasized that crypto assets have become an important part of global wealth growth.
Project news
Binance will launch PHAUSDT and DFUSDT 1-75x USDT perpetual contracts
According to the official announcement, the Binance Futures platform will launch the perpetual contract at the following time, with a maximum leverage of up to 75 times: 19:30 on December 30, 2024 (East 8th District time): PHAUSDT perpetual contract; December 30, 2024 19:45 on the same day (East 8th District time): DFUSDT perpetual contract.
Hamster Kombat will build L2 blockchain on TON chain
According to official news from Hamster Kombat, its DAO community has completed voting on the second proposal and decided to build the Hamster L2 blockchain on the TON blockchain. Officials stated that this technical foundation will serve its largest Web3 community in the world, and promised to start development work immediately and bring more good news as soon as possible.
FLock announces token economics and airdrop plan: 66.7% allocated to community and ecosystem
According to FLock official news, as the Token Generation Event (TGE) approaches, FLock announced token economics and airdrop plans: the total supply is 1 billion tokens, of which 66.7% is allocated to the community and ecosystem, 5% (5000 10,000 coins) are used to reward early users and communities, including trainers, verifiers, delegators, model users and partners. Users participating in the airdrop must meet the qualifications. For example, model store users must have a rating of 300 or above, verify at least one social account, and hold Ethereum or Base mainnet assets; AI Arena users must earn at least 1 FML (testnet) tokens). The platform prevents duplicate users through IP address detection, and violations will result in reduced rewards. After the airdrop, FLock will launch the mainnet model and encourage users to participate in training and verification to promote the development of the platform.
point of view
According to Matrixport data, Bitcoin is currently digesting the rising tide of the past few weeks, and its open interest has increased from US$18 billion in October to US$29 billion, an increase of 50%. At the same time, Bitcoin funding rates also surged from 10% to a high of 80%. Historical data shows that this kind of rapid position building is usually followed by a brief consolidation period, and then the bull market may continue. Analysts believe that this pattern may reappear, especially during the Christmas holiday when market trading is light. Investors are setting their sights on the new year, expecting new inflows to drive further gains in Bitcoin prices.
According to the Guardian, Geoffrey Hinton, the “godfather of artificial intelligence” who won the Nobel Prize in Physics for his research on artificial intelligence, warned that the probability of AI causing human extinction in the next 30 years is 10% to 20%. between. He pointed out that the development speed of AI technology is "far faster than expected" and AI systems that surpass human intelligence may be difficult to control. Hinton called on the government to strengthen supervision of AI technology, believing that the safe development of AI cannot be guaranteed by companies' profit-seeking motives alone. He emphasized that a large number of experts in the field of AI predict that AI systems that are more intelligent than humans will appear in the next 20 years, which poses a major threat to mankind. In addition, Meta chief scientist Yann LeCun, who is also the "godfather of AI," holds a different view and believes that AI may save humanity from extinction.
Shaw, the founder of ai16z, posted on the X platform that there is no need to imitate their projects, there are still many unexplored areas worth trying, and emphasized that innovation and bold attempts can bring greater potential benefits. In response to the question of "what areas do you want people to expand into?" he suggested focusing on the following directions: projects that allow people to "make money while they sleep," tools that help people save time, and extensions of existing applications or websites to social media. new form.
important data
According to data from The Block, the monthly trading volume of decentralized exchanges (DEX) reached a record high in December, totaling US$320.5 billion, breaking the US$300 billion mark for the first time, breaking the US$299.6 billion record set in November. Among them, Uniswap leads the way with a transaction volume of more than 103 billion US dollars, followed by Pancakeswap with a monthly transaction volume of 72 billion US dollars, and Raydium on Solana ranks third with 54.6 billion US dollars. Analysts pointed out that many popular crypto assets (such as AI-related tokens) are only traded on DEX, and the rise of some projects such as Hyperliquid also shows that listing on CEX is no longer a necessary condition to achieve high market capitalization. In addition, CEX’s spot trading volume in December also reached the highest level since May 2021, with a total volume of US$2.78 trillion, of which Binance contributed nearly US$950 billion, and Crypto.com, Upbit, Bybit and Coinbase also processed hundreds of billions USD trading volume. Analysts believe that the surge in DEX and CEX trading volumes reflects the recovery of market activity, driven by the recent increase in volatility, increased trust in the DeFi ecosystem, and improvements in CEX liquidity and trading tools.
The Panic and Greed Index fell to 65 today, a new low since October 15
According to Alternative data, the panic and greed index dropped sharply to 65 today (from 73 yesterday). The market is still in a "greedy state", falling below 70 for the first time since October 24, setting a new low since October 15.
Data: Bitget has destroyed 800 million BGB through 5 addresses, worth approximately US$5.2 billion
According to @ai_9684xtpa monitoring, Bitget has destroyed a total of 800 million BGB through 5 addresses in the past hour, with a total value of approximately US$5.2 billion. According to previous news, Bitget will destroy BGB worth more than 5 billion US dollars, accounting for 40% of the total supply.
According to monitoring by The Data Nerd, the address "0xgalahad.eth" exchanged 24.566 million $AIXBT tokens at a price of approximately $3,400 on November 4, and subsequently added liquidity without selling any $AIXBT. The current estimated return on its investment is approximately US$12 million, with a return on investment of 3,549 times.
CryptoQuant CEO: Bitcoin, as a SoV, has a total stored capital valuation of US$1.03 trillion
According to estimates by CryptoQuant CEO Ki Young Ju, combining on-chain and off-chain data, the total stored capital of the Bitcoin network has increased by 85% this year, reaching $1.03 trillion. Estimation methods include: 1. Off-chain trading: Calculate the capital flowing into the market through the exchange by multiplying the exchange reserve amount by VWAP (weighted average price). 2. On-chain transactions: Use realized market capitalization (Realized Cap) to track capital inflows from over-the-counter transactions (OTC) and exchange on-chain activities. The above data are combined to form the "Storage of Value Index" (SoV Index), which reflects the level of capital storage of Bitcoin in the network.
MakerDAO monthly revenue and capture fees hit record highs
DeFiLlama data shows that MakerDAO captured fees this month reached US$39.52 million, and monthly revenue reached US$25.96 million, both hitting record highs. The protocol has accumulated capture fees of US$555.68 million and revenue of US$384.95 million. Among them, the single-day capture fee reached US$1.67 million on December 9, and the revenue was US$1.18 million, a single-day peak; the capture fee that week reached US$10.61 million, and the weekly income was US$7.05 million.
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