Weekly Preview | MicroStrategy officially joins the Nasdaq 100 Index; Ethena (ENA) and Cardano (ADA) will unlock tokens worth tens of millions of dollars
Reprinted from panewslab
12/22/2024·5MImportant news preview:
- MicroStrategy will officially join the Nasdaq 100 Index on December 23, becoming the first Bitcoin-related company to enter the index;
- Metars Genesis (MRS) will unlock approximately 10 million tokens at 8 a.m. Beijing time on December 23, accounting for 11.87% of the current circulating supply and worth approximately US$34.7 million;
- Ethena (ENA) will unlock approximately 12.86 million tokens at 3 pm Beijing time on December 25th, with a ratio of 0.44% to the current circulating supply and a value of approximately US$13.5 million;
- Due to the approach of Christmas, the market next week will be relatively calm, but there are still some relatively influential data, but due to thin liquidity, market volatility may become large;
- Cardano (ADA) will unlock approximately 18.53 million tokens at 8 a.m. Beijing time on December 26th, accounting for 0.05% of the current circulating supply and worth approximately US$16.6 million.
December 23
Exchange:
South Korean crypto exchange Aprobit will cease operations. As the virtual asset service provider (VASP) renewal filing deadline approaches, many cryptocurrency trading platforms have closed down. According to industry sources, Aprobit withdrawals can be made until 6 pm on December 23. Aprobit said: "Due to changes in the operating environment, we have decided to stop trading support. Even after the trading support ends, we will do our best to ensure that all users can smoothly withdraw assets deposited on the trading platform."
MicroStrategy expected to join Nasdaq 100 on December 23
MicroStrategy is expected to join the Nasdaq 100 Index on December 23, with an official announcement scheduled for this Friday (December 13). Bloomberg ETF analyst James Seyffart said the ETF tracking the Nasdaq 100 is expected to buy $2.1 billion worth of MicroStrategy shares, accounting for about 20% of the company's daily trading volume. The company's weight in the Nasdaq 100 could also reach 0.47%, making it the 40th-largest holding in the index, ETF analyst Eric Balchunas said.
Seyffart said that while joining the Nasdaq 100 is imminent, joining the S&P 500 will be more challenging due to MicroStrategy's lack of profitability. However, upcoming changes in accounting rules related to Bitcoin valuation could make the company eligible for inclusion in the S&P 500 in 2025.
Project updates:
The Aligned Foundation will allocate a significant portion of the total ALIGN tokens to token holders of Mina, EigenLayer, and Ethereum zk L2, especially those who choose to continue holding at the lowest point in the market. Registration closes on December 23, 2024. Specific qualification requirements are that the wallet address must hold at least $50 worth of tokens at the historical lowest price of tokens in the following projects: Mina (MINA), Starknet (STRK), Polygon (POL), EigenLayer (EIGEN), ZKsync ( ZK), Scroll (SCROLL), Taiko (TKO). According to previous news, Aligned will airdrop 26% of ALIGN to 891,322 addresses. The airdrop targets the currency holding addresses of seven tokens, including STRK and ZK.
Governance voting:
DeSci project BIO Protocol's new proposal "Enable BIO token transferability" has opened voting, and the voting period is 3 days (as of December 23). If the proposal is passed, BIO will become a liquid asset within 14 days, and the initial liquidity will be on the ETH mainnet, and more chains will be supported in the future.
Token Unlocked:
Metars Genesis (MRS) will unlock approximately 10 million tokens at 8 a.m. Beijing time on December 23, accounting for 11.87% of the current circulating supply and worth approximately US$34.7 million.
Karrat (KARRAT) will unlock approximately 11.25 million tokens at 8 a.m. Beijing time on December 23, accounting for 6.45% of the current circulating supply and worth approximately US$4.4 million.
Murasaki (MURA) will unlock approximately 20 million tokens at 8 a.m. Beijing time on December 23, accounting for 34.84% of the current circulating supply and worth approximately US$12.2 million.
Coin98 (C98) will unlock approximately 16.53 million tokens at 7 pm on December 23, Beijing time, with a ratio of 1.88% to the current circulating supply and a value of approximately US$2.7 million.
December 24
Project updates:
Pump Science released an update to its roadmap, including: December 24 to announce partnerships to prepare mouse experiments and protocol development; January 25, 2025 to launch mouse experiments with URO and RIF; February 25 to launch collaboration with VitaDAO Collaboration to launch new compounds; supplement booking and marketing platform launched on March 25; decentralized human trials launched on April 25, decentralized compound release launched; related experiments expanded on May 25.
BNB Chain announced that it will launch the second Meme Coin competition on December 24th. The first phase of the event lasted for 7 days, with a total of 7 MemeCoin winning projects; among them, three winning projects, AICell, MONKEY, and FROG, have been listed on Binance Alpha Zone. The second phase of the event will be launched on December 24. During the event, BNB Chain will purchase the outstanding ecological Meme Coin worth 33BNB every day. For 7 consecutive days, the corresponding Meme token will be randomly airdropped to 1,000 qualified people every day. community users.
Token Unlocked:
MMX (MMX) will unlock approximately 1.67 million tokens at 8 a.m. Beijing time on December 24th, with a ratio of 1.11% to the current circulating supply and a value of approximately US$1.8 million.
December 25
Exchange:
Binance will delist AKRO, BLZ, and WRX on December 25
Binance announced that it will delist and stop all spot trading pairs related to AKRO, BLZ, and WRX at 03:00 on December 25, 2024 (UTC), including AKRO/USDT, BLZ/BTC, BLZ/USDT, and WRX/USDT.
Binance will support aelf (ELF) network upgrade on December 25th
Binance has announced that it will suspend token deposits and withdrawals on the aelf (ELF) network starting at 09:00 (UTC) on December 25, 2024 to support its network upgrade. The upgrade is expected to be carried out at block height 248,832,789 and will be completed at approximately 10:00 (UTC) on December 25, 2024.
Token Unlocked:
Ethena (ENA) will unlock approximately 12.86 million tokens at 3:00 pm Beijing time on December 25th, with a ratio of 0.44% to the current circulation and a value of approximately US$13.5 million.
Eigenlayer (EIGEN) will unlock approximately 1.29 million tokens at 3 a.m. Beijing time on December 25th, with a ratio of 0.61% to the current circulation and a value of approximately US$4.9 million.
Venom (VENOM) will unlock approximately 33.76 million tokens at 8 a.m. Beijing time on December 25th, accounting for 1.77% of the current circulating supply and worth approximately US$2 million.
Hooked Protocol (HOOK) will unlock approximately 4.17 million tokens at 8 a.m. Beijing time on December 25th, accounting for 1.97% of the current circulating supply and worth approximately US$1.7 million.
December 26
Project updates:
Sui ecological lending protocol Scallop will launch an airdrop event during the Christmas period from December 14th to 26th. Users only need to borrow at least US$1,000 in assets/hold 1,000 veSCA to obtain airdrop qualifications. The total amount of airdrop is 1 million SCA, and the airdrop distribution date is December 26. Currently, Scallop TVL reaches an all-time high of 195 million, with total borrowings reaching $90 million.
Token Unlocked:
Cardano (ADA) will unlock approximately 18.53 million tokens at 8 a.m. Beijing time on December 26th, accounting for 0.05% of the current circulating supply and worth approximately US$16.6 million.
December 27
Exchange:
OKX will officially delist XRP and LTC delivery contracts on December 27
According to the official announcement, OKX plans to gradually stop the generation of XRP and LTC currency-based and USDT-based delivery contracts in the near future, and will officially delist the XRP and LTC delivery contracts at 4:00 pm on December 27, 2024 (UTC+8). This offline is applicable to the web, mobile and API.
Binance Futures will launch the following U-standard and coin-standard sub-quarter 0627 delivery contracts within a few hours after the expiration of the U-standard and coin-standard quarterly 1227 delivery contracts at 16:00 on December 27, 2024 (Eastern Eighth District time) . U-standard delivery contracts include BTCUSDT and ETHUSDT, the settlement asset is USDT, the minimum price precision is 0.1 and 0.01 respectively, and the maximum leverage is 50 times. Coin-based delivery contracts cover BTC, ETH, BNB, ADA, LINK, BCH, XRP, DOT, LTC and SOL. The settlement assets are the respective underlying assets. The minimum price accuracy and maximum leverage vary by asset, with the maximum leverage reaching 50 times.
Investors eye Bitcoin options expiry on December 27
According to previous reports from Reuters, investors are focusing on December 27, when Bitcoin options worth $11.8 billion will expire, which could trigger large price fluctuations in either direction. Nick Forster, founder of the decentralized options protocol Derive, pointed out that Bitcoin’s volatility has remained stable over the past seven days, with price implied volatility for the next seven days at 63% and 30-day levels at 55%. “This tight consistency shows The market is expecting big moves soon. "Bitcoin has now retreated from its highs, with profit-taking being one of the reasons cited by market participants for the drop.
December 28
Project updates:
Sophon mining migration timeline announced, mainnet mining will start on December 28
ZKsync-based modular blockchain Sophon announces mining migration plan:
•December 19, 23:59 UTC: L1 mining is closed for new deposits, while an optional L1 withdrawal window is open.
•December 26, 23:59 UTC: The L1 withdrawal window is closed, and unwithdrawn assets will automatically be cross-chained to the Sophon main network.
•December 27: All remaining assets will be automatically cross-chained, and the first phase of SP point accumulation will end.
•December 28: Sophon mainnet mining officially started, and the second phase of SP point accumulation started, adopting a USD-based distribution method and supporting Gas-free mining.
December 29
None yet
Specific time to be determined
Macro market:
With Christmas approaching, the market next week will be relatively calm, but there are still some relatively influential data, but due to thin liquidity, market volatility may become large. For the U.S. dollar, with the overall hawkish bias within the Fed, the U.S. dollar is not expected to easily lose the throne it gained this year, although low trading volumes during the holidays may trigger some unnecessary volatility. Overall, any market turmoil during the holidays is more likely to hit U.S. stocks and U.S. Treasuries. The Fed's hawkish stance has not been welcomed by Wall Street, and the sell-off is likely to intensify as Treasury yields continue to climb.
Project updates:
OpenAI: ChatGPT will launch advanced voice mode next week
The ChatGPT search function has received a major update and is now gradually open to all free users. This update includes a real-time search function that supports minute-level access to the latest news, stocks and other dynamic content; a new advanced voice mode will be launched next week, allowing users to optimize multiple rounds of search experience through more natural voice interaction; a new addition to the mobile terminal The map function supports viewing surrounding locations, route planning and business information; optimization for Android, iOS and other platforms increases search efficiency by more than 40%.
Governance voting:
MANTRA, a Layer 1 blockchain focusing on RWA assets, stated on the X platform that the updated OM token economics proposal is now online, Snapshot voting is now open, and mainnet voting will take place next week.
While the proposal proposes adjusting the token issuance schedule, individual allocations earned through various activities will remain unchanged. The specific contents of the proposal include:
- 1. Adjust the vesting schedule of OM upgrade rewards. The cliff period will end on March 18, 2025, followed by a linear vesting period that will continue until October 16, 2028.
- 2. 10% of the initial airdrop allocation will be unlocked from March 18, 2025, followed by a 6-month cliff period until September 18, 2025. From that date, the remaining rewards will begin to vest in a linear manner and will continue until the end of March 18, 2027. Additionally, a second phase of anti-Sybil checks is proposed for all wallets. The vesting period of airdrop rewards will no longer be extended thereafter.
- 3. The cliff period and vesting period for team and core contributor incentives are extended. The cliff period will end on April 23, 2027, and the vesting period will end on October 22, 2029.
- 4. The token cliff period for Pre-Seed round investors will end on October 23, 2025, and will end on October 23, 2027; the token cliff period for Seed round investors will end on April 23, 2025. Vesting ends on April 23, 2026.
- 5. Ecosystem allocation will remain unchanged, and the on-chain inflation rate will be reduced from 8% to 3% starting from January 1, 2025.
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