PA Daily | UXLINK trading volume ranks first on both Upbit and Bithumb; 30 new wallets withdrew 1.37 million LINK from Binance in 5 days
Reprinted from panewslab
12/25/2024·4MToday’s news tips:
UXLINK’s 24-hour trading volume ranks first on both Upbit and Bithumb
VitaDAO plans to distribute 6.9 million BIO to VITA and VitaDAO IPT holders
GoPlus releases GPS token economics: 10% of the total supply will be used for airdrops
Syncracy Capital: AI16z, Zerebro and Griffin’s FDV is expected to exceed US$1 billion
30 new wallets withdrew 1.37 million LINK from Binance in 5 days, worth approximately $34.1 million
An anonymous user pledged 10,000 BTC on Babylon 10 days ago, worth over US$1 billion.
Regulation/Macro
Crypto Stock Performance in 2024: MicroStrategy Up 402%, Core Scientific Up 307%
2024 is a milestone year for the cryptocurrency market, with landmark events including the launch of a spot Bitcoin ETF, Bitcoin’s halving event in April, and Trump’s support, all of which have brought volatility to cryptocurrency-related stocks. Overall, the S&P 500 is up 25% and the price of Bitcoin is up nearly 120%. Among the best-performing stocks, MicroStrategy (MSTR) led the way with a 402% gain, giving it a market capitalization of $83 billion. As the largest corporate holder of Bitcoin, MicroStrategy continues to purchase Bitcoin in large quantities in 2024. Core Scientific (CORZ) followed suit with gains of 307%, having successfully signed a 12-year contract with AI giant CoreWeave. Terawulf (WULF) and Bitdeer Technologies (BTDR) also performed strongly, rising 142% and 122% respectively. Additionally, Coinbase (COIN) is up 69%, with a market capitalization of $66.5 billion, a solid performance. Among the worst-performing stocks, Greenridge Generation (GREE) plunged 74%, Argo Blockchain (ARBK) fell 80%, and Gryphon Digital Mining (GRYP) fell as much as 92% due to a sharp decline in revenue.
Financing
Venture capital firm Founders Fund is raising about $3 billion for its third growth equity fund
Founders Fund, the venture capital firm co-founded by Peter Thiel, is raising about $3 billion for its third growth equity fund, Axios has learned from multiple sources. Founders Fund has not yet provided potential investors with an official size target for the new fund, but said $3 billion would be a rough estimate. Founders Fund has invested in some of the world's most valuable technology startups, including SpaceX and Stripe. Thiel will also have access to the incoming White House due to its longstanding support of President-elect Trump and the company's multiple investments with Musk. Founders Fund has also invested in multiple crypto projects, including Igloo, Inc., the parent company of Pudgy Penguins, Bitcoin lending platform Lava, Bitcoin rollup project Citrea, etc. Founders Fund successfully raised $3.4 billion for its second growth equity fund in 2022, while raising $1.8 billion for its eighth early-stage fund. However, early last year, as they sensed relatively few investment opportunities in the market, they decided to split the early-stage fund into two. But as of now, they have not started investing in what is now known as the "ninth fund." In addition, although there was discussion of splitting up the growth fund, it was never implemented. Now, most of the fund's capital has been deployed, including investments in capital-intensive AI companies.
Project news
UXLINK’s 24-hour trading volume ranks first on both Upbit and Bithumb
Coingecko data shows that UXLINK’s 24-hour trading volume ranks first on both South Korean crypto exchanges Upbit and Bithumb, with approximately US$2.886 billion and US$345 million respectively. The price of UXLINK is currently at $3.63, with a 24-hour increase of 123.7%.
On-chain analyst @ai_9684xtpa analyzed: “The first AI-Pool public pre-sale project spent a total of 814 SOL on the TOP3 addresses, but only received the equivalent of 10 SOL METAV. The excess and overtime transfers seem to be regarded as donations. Fund reception rules: Since this launch process is entirely performed by AI, the fund reception range is 1-10 SOL, and less than 1 SOL is regarded as a donation. But from the transaction records, it seems that it is more than 10 SOL. The SOL part of the funds and the funds transferred after the deadline are also 'mandatory donations'." Top 3 addresses for making money during the pre-sale stage: 1. Address HRu6k...eoFCw: Deposit 574 SOL; not yet received. Tokens are locked up forcibly. 2. Address 4b6ry...bKkjU: 200 SOL was transferred; the corresponding tokens of 10 SOL have been received, that is, 109628 METAV, and all have been sold. 3. Address 4MeZj...wpRsB: After transferring 200 SOL, I have received the corresponding tokens of 10 SOL and added 23,000 tokens, which have not been sold yet.
VitaDAO plans to distribute 6.9 million BIO to VITA and VitaDAO IPT holders
The VitaDAO community launches a new proposal to “airdrop BIO tokens to the VitaDAO community” to strengthen the connection between BIO and the VitaDAO community while coordinating governance participation by distributing tokens to active VITA and VITA IPT holders. The proposal proposes to distribute up to 6.9 million BIO tokens (out of VitaDAO’s total allocation of 21 million) to the VitaDAO community through an airdrop mechanism. Distribution will be based on multiple snapshots targeting VITA token holders and VITA-IPT holders, and the airdrop will use a tiered system to ensure fair distribution among different holder categories. The implementation time of the application mechanism is 2 months (January 2025-March 2025).
GoPlus releases GPS token economics: 10% of the total supply will be used for airdrops
Web3 network security company GoPlus recently announced that it will issue GPS tokens, and TGE details will be announced soon. The launch of GPS marks the transformation of GoPlus from a security service provider to a decentralized network. GPS tokens are designed to power all aspects of this security lifecycle: security service fees, staking rewards, security transaction fees. Regarding token economics, the total supply of GPS tokens is 10 billion, 60.67% is used for ecosystem and community growth, and 39.33% is used for early contributors and private investors. The distribution of ecosystem and community growth is specifically as follows: community and development distribution accounts for 24.67%, ecosystem growth distribution accounts for 10%, marketing and growth distribution accounts for 6%, airdrop distribution accounts for 10%, and liquidity distribution accounts for 7 %, and consultant allocation accounts for 3%. The allocation to early contributors and private investors is specifically: 20% for the team, and 19.33% for early supporters from 2021 to 2024.
point of view
Syncracy Capital: AI16z, Zerebro and Griffin’s FDV is expected to exceed US$1 billion
Syncracy Capital co-founder Daniel Cheung said it is expected that several of Admiral Solana’s artificial intelligence agent platforms will achieve a fully diluted valuation (FDV) of more than $1 billion in the next stage. He specifically mentioned AI16z, Zerebro and Griffin as the projects most likely to achieve this goal.
Artemis founder: TradFi players will drive crypto assets from $3.5 trillion to over $100 trillion
Jon Ma, founder of Artemis, an institutional data platform for cryptocurrency, shared on social media his experience entering the cryptocurrency industry from the traditional financial field. He mentioned that when he first came into contact with Bitcoin in 2015, he did not pay much attention to it until he paid attention again and purchased Bitcoin and other crypto assets in 2017.
He said that through conversations with Shapeshift’s Erik Voorhees, he began to recognize the possibility of currency and government separation. In the following years, he missed the DeFi craze and the rise of NFT, but re-entered the encryption field in 2021, invested in Solana and its NFT, and tried to participate in DeFi projects.
He and his girlfriend also support Filipino scholars through Axie Infinity. He believes that in the future, participants in the traditional financial field will drive the growth of crypto assets from 3.5 trillion US dollars to more than 100 trillion US dollars. Asset management companies such as Fidelity and BlackRock are actively launching digital Asset ETFs and related products, while Stripe and Visa, the world’s largest fintech companies, are also likely to benefit from crypto payment networks.
Matrixport: Another opportunity for Ethereum to enter the market may come soon
Matrixport said that Ethereum, like Bitcoin, tends to lose momentum when its price rises significantly, especially when the price rises by more than 60% in 30 days. Judging from historical data, this is usually a profit opportunity. Prices have now pulled back to where they were a month ago, which could mean a re-entry opportunity is brewing, especially if the crypto bull market is expected to continue into 2025.
It is worth noting that Ethereum has not exhibited the higher beta characteristics of the previous bull market in this rally. However, it remains a favored asset among investors. The recent continuous inflow of ETF funds is the best proof. This strong demand not only highlights Ethereum’s importance, but also shows that it continues to attract attention even if it performs slightly below expectations this cycle.
Cryptocurrency research firm K33 Research noted that Bitcoin has been oscillating since crossing the $100,000 milestone earlier this month, Morningstar reported. But history shows that it may reach a record high by around mid-January next year. Vetle Lunde, director of research at K33, said that based on data from Bitcoin’s past three cycles, the average duration from the first to the last all-time high in each cycle was 318 days. With Bitcoin hitting its first all-time high on March 5 of the current cycle, if the average duration of previous cycles repeats, investors could see the cryptocurrency reach a new peak for this cycle on January 17, 2025 . If Bitcoin does reach a cycle peak in mid-January next year, it will be close to Trump’s US presidential inauguration, which is January 20.
important data
According to Spot On Chain monitoring, the suspected Justin Sun address transferred 70,182 ETH ($244.9 million) to HTX 7 hours ago, including 42,905 ETH unpledged from Lido Finance and 27,277 ETH transferred from Etherfi. Since November 10, he has deposited 179,101 ETH ($645 million) into HTX at an average price of $3,601. He still holds 106,905 STETH ($372.4 million) and 56,277 EETH ($195.8 million), of which 25,000 ETH ($87 million) have been uncollateralized from Etherfi. Prior to yesterday’s news, Sun Yuchen denied rumors of liquidating ETH, saying that this was just an ETH transfer operation between different wallets by the team.
Glassnode: Solana has maintained positive net capital inflows since early September 2023
Glassnode posted on the , and reached a significant peak of $776 million in new capital inflows per day.”
Coinbase international weekly trading volume hits a new high of $119 billion
Coinbase International’s total trading volume exceeded $119 billion last week, a record high. The weekly total was 124% higher than the previous week's total, while the past week's daily average was 164% higher than the previous week's daily average. The average daily trading volume of Coinbase International Station in November was only US$2.5 billion. As of December, the exchange’s average daily trading volume was close to $10 billion. The top five trading pairs on Coinbase International include perpetual futures of BTC, ETH, SOL, XRP and DOGE, accounting for 99.8% of the exchange’s total trading volume. BTC-PERP accounts for 57% of the total trading volume, followed by ETH-PERP at 34%.
According to Cointelegraph, the total trading volume of decentralized exchange (DEX) PancakeSwap will reach US$310 billion in 2024, a year-on-year increase of nearly 179% from US$111 billion in 2023. PancakeSwap reported that crypto trading volume on Arbitrum increased 3,656% year-on-year to $13.2 billion, primarily thanks to L2 networks Arbitrum and Base, while cryptocurrency trading volume on Base grew 3,539% year-on-year to $11.6 billion by 2024 . In addition, PancakeSwap trading volume increased by 179% year-on-year, reflecting positive market sentiment and increased activity in the DeFi and DEX space.
According to Naver, data from the Bank of Korea showed that as of the end of November, the number of cryptocurrency investors in South Korea reached 15.59 million, an increase of 610,000 from October. This number represents more than 30% of the country’s total population and reflects increased market activity after U.S. President-elect Trump pledged support for the cryptocurrency industry. The rising price of Bitcoin has also contributed to the growth of this trend. As of the end of November, total cryptocurrency holdings of South Korean investors totaled 102.6 trillion won (approximately $70.8 billion), compared with 58 trillion won (approximately $40 billion) in October. The average daily trading volume in November reached 14.9 trillion won (approximately US$10.288 billion), which is equivalent to the combined average daily trading volume of the Korea Composite Stock Price Index (KOSPI) market and the Korea Growth Enterprise Market Index (KOSDAQ) market in the same month.
An address with a balance of approximately 13.14 million USDT on the Ethereum chain has been frozen
According to Whale Alert monitoring, around 06:36 Beijing time today, an address with a balance of 13,145,135 USDT on the Ethereum chain was frozen.
An anonymous user pledged 10,000 BTC on Babylon 10 days ago, worth over US$1 billion.
The Bitcoin staking protocol Babylon disclosed in its official blog that on December 15, during the third launch of the Babylon Bitcoin staking protocol mainnet, an anonymous pledger pledged 10,000 Bitcoins through three transactions, worth more than $1 billion. Babylon said: “Previously, the largest staking amounts came from entities looking to stake for their users (such as the LST protocol and custodians), but staking on such a large scale by individuals is of particular significance to Babylon and its protocol. Whoever this person is, their decision to stake directly to Babylon rather than through LST pushes the concept of ‘trustless’ staking from the abstract to the concrete.”
30 new wallets withdrew 1.37 million LINK from Binance in 5 days, worth approximately $34.1 million
According to Lookonchain monitoring, in the past five days, a total of 30 newly created wallets withdrew 1.37 million LINK from Binance, worth approximately US$34.1 million.
jinse