Today's Major Events
1. Bitcoin rebounded this morning, reaching $98,836, currently priced at $98,496, with a 24-hour increase of 0.25%. Today's fear and greed index rose to 76 (yesterday it was 72), shifting from greed to extreme greed, but it is not overheating. In my view, some people have not yet recovered from the downward sentiment of a week ago; the market has not fully recovered from the holiday, and we are currently in a phase of accumulating energy for a new round of upward movement.
The Gate platform token GT has reached a new high of $18.148, setting a historical record, with a 7-day increase of 12.25% and a total increase of 255.8% in 2024.
ACT has risen over 20% in the last 24 hours, currently priced at $0.3866. Reason for the increase: ACT announced yesterday that it will unveil its top technical development team and new CTO on January 7, marking progress in a new phase of the project.
2. China Financial Forty Forum: In 2009, the birth of Bitcoin pioneered decentralized currency. More than a decade later, cryptocurrencies have evolved from being regarded as 'money laundering tools' and 'speculative tools' outside the mainstream financial system to an integral part of the global financial ecosystem, driven by technological innovation, institutional participation, regulatory evolution, and changes in social perception. The cryptocurrency market exhibits entirely different new characteristics across several key dimensions: first, cryptocurrencies have transitioned from purely experimental new technologies to a substantial asset class; second, the cryptocurrency landscape has evolved from Bitcoin's absolute dominance to a complex ecosystem that continues to evolve; third, there is an increasing intersection and integration between crypto financial services and traditional financial services; fourth, the cryptocurrency market is shifting from a retail-driven speculative market to a new asset class with significant institutional participation, trending towards mainstream acceptance; fifth, regulation of cryptocurrencies is gradually transitioning from a focus on curbing speculation and illegal activities to building a multi-layered framework that includes stablecoin payments, anti-money laundering/anti-terrorist financing, and travel rules.
3. According to official news, the Sonic SVM, a blockchain on Solana, has announced its native token SONIC tokenomics. SONIC will serve as the native token for Sonic SVM and the Multi-SVM ecosystem, promoting long-term growth and development. The total supply of SONIC is 2.4 billion, with 57% allocated to the community, including community and ecosystem development (30%), initial claims (7%), and HyperGrid rewards (20%). The TGE is scheduled for January 7, 2025, with an initial circulation of 15% of the total supply.
(Note that Sonic SVM is developed by Mirror World Labs, a tech company focused on scaling solutions for the Solana network. It is not developed by the Andre Cronje team, although both involve the concept of SVM.)
4. In 2025, there will be 14 major cryptocurrency conferences, including the Hong Kong Consensus Conference, ETHDenver, Paris Blockchain Week, Token2049 (Dubai and Singapore), Bitcoin 2025, Korea Blockchain Week, Japan WEBX, etc.
Market Data
1. This week, the performance of ETH ETFs was slightly weaker than BTC, with a total net outflow of $38.1 million and a net reduction of 11,846.98 ETH. Although BlackRock and Fidelity still increased their holdings, other institutions mainly reduced their positions.
2. Token Unlocks data shows that tokens such as APT, MOVE, KAS will see significant unlocks this week, with APT unlocking valued at approximately $110 million.
3. According to Artemis data, the Base network had a net inflow of $178.8 million in the past 7 days, ranking first. The Solana network had a net inflow of $82.6 million, ranking second. Polygon PoS ($16 million) ranked third.
4. DefiLlama data shows that the market capitalization of USD0, a stablecoin product launched by the developer Usual, backed by real-world assets, has reached $1.813 billion, surpassing the market capitalization of FDUSD ($1.71 billion), ranking fifth among stablecoins, with a growth of 237% in the past month.
$BTC $SOL $ACT
