Web3 AI Daily Review (2024/11/29)

1. Attention Value - Market Highlights

1. Market Trends

(1) Macroeconomic Environment:
l Matrixport : If Trump successfully nominates leaders for the Treasury and SEC, it may trigger a new wave of revival in the DeFi market
Matrixport's latest report points out that the three key cabinet candidates nominated by Trump will be responsible for the Treasury, the Department of Commerce, and the Securities and Exchange Commission, and they are generally seen as supporters of cryptocurrency. These nominations are expected to accelerate the integration of cryptocurrency into the U.S. economy. If these nominations are confirmed, the market narrative in 2024 may shift from "Bitcoin as digital gold" to the revival of decentralized finance (DeFi), with traditional finance gradually integrating DeFi applications and blockchain technology to enhance payment and transaction efficiency. Although clear regulations are expected to emerge, this shift may make cryptocurrency the biggest beneficiary of this election and promote global acceptance of cryptocurrency.
Matrixport also mentioned that the possibility of establishing strategic Bitcoin reserves is increasing, but the U.S. may not actively purchase Bitcoin and may indefinitely hold existing Bitcoin assets.
(2) Web3 Field:
l Base AI agent gaining attention: Is the "Base Era" about to arrive?
Recently, the surge in the AI field has led to the emergence of many new tokens, especially meme coins on Solana. At the same time, the Base ecosystem is beginning to show potential, with a continuous influx of new projects and tokens heating up the market atmosphere. Base, as a blockchain network developed by Coinbase, has attracted considerable attention from Coinbase users, who provide credibility, financial resources, regulatory support, and a solid user base, indicating the enormous potential of the Base ecosystem. Additionally, on November 26, Phantom announced support for Base, significantly lowering the usage threshold for Base. In the future, we will witness more protocols and applications gradually supporting Base, along with more applications developed natively on Base.

2. Hot Events

(1) Macroeconomic Environment:
l Russian President Putin officially signs digital currency taxation law
According to TASS, Russian President Vladimir Putin signed a new law on November 29 that regulates the taxation of digital currencies. This law treats digital currencies as property and applies to currencies used for foreign trade payments under the "experimental legal regime in the field of digital innovation" (EPR).
Under the new regulations, the mining and sale of digital currencies will be exempt from value-added tax (VAT), but operators of mining infrastructure must report the cryptocurrencies issued by their services to tax authorities. Failure to submit this information on time will result in fines of up to 40,000 rubles. Regarding personal income tax, digital currencies obtained through mining will be considered tangible income, with their value determined based on market quotes. This type of income will be taxed at progressive rates, specifically 13% for income up to 2.4 million rubles and 15% for amounts exceeding that. Meanwhile, for corporate income tax, digital currency mining will be taxed at the standard rate, which will be 25% starting in 2025. This series of measures aims to regulate the cryptocurrency market, increase government tax revenue, and promote industry development.
The law regards digital currency mining as a legitimate economic activity, granting it legal status. This means that mining companies and individuals can operate within a legal framework, reducing legal risks and attracting more participants to the market.
(2) Web3 Field:
l Marc Andreessen states multiple tech founders faced sudden card cancellations by banks due to cryptocurrency associations
In a recent episode of the Joe Rogan show, a16z co-founder Marc Andreessen revealed that at least 30 tech founders faced sudden "card cancellations" by banks due to their associations with cryptocurrency, sparking widespread discussion in the crypto community. Many industry insiders shared their experiences of being denied service by banks. Caitlin Long, founder of Custodia Bank, stated that her company has faced "card cancellations" multiple times and is currently suing the Federal Reserve, with the case set to go to court on January 21, 2025. Jesse Powell, founder of Kraken, mentioned that the company has been unable to obtain banking services in the U.S. for years and has had to turn to the European market. Tyler Winklevoss, co-founder of Gemini, pointed out that the number of affected businesses far exceeds 30 and stated that this phenomenon has systematically suppressed the crypto industry. In response, tech entrepreneur Balaji Srinivasan remarked that this "card cancellation" action against the crypto industry is a result of political pressure and called for accountability from relevant policymakers.
3. Hot Narratives
l Christmas craze sweeps Solana: Tokens like Rizzmas and GRINCH soar, market cap skyrockets!
As Christmas approaches, several Christmas-themed tokens have emerged on the Solana platform, with market enthusiasm continuing to rise. Among them, the Santa Claus token Rizzmas surged rapidly within 24 hours, with a market cap nearing $100 million; the GRINCH token leveraged Rizzmas's popularity, fluctuating and rising to a market cap of up to $21 million in just two days; while Chill GUY maintained high enthusiasm through traffic from social media platforms like TikTok, with its derivative Chill Grinch seeing a 69-fold increase within four hours of its launch. This series of dynamics showcases the active performance of the crypto market in the festive atmosphere.
2. Attention Value - Hot Projects
1. Project Introduction
l JAK | meme | @Jakcoin

• The only WOJAK meme derivative on Solana;
• Very popular on TikTok, with very active social engagement, attracting 25k holders in just one day;
• Elon Musk once praised JAK in a tweet;
• The narrative is a story from nothing to something: "I am JAK, an ordinary person without a girlfriend, a job, or confidence, but when I bought this meme, the whole world became mine. The concept of jak aligns perfectly with the essence of memes, the dream of getting rich and being free!"

3. Attention Value - Sector Rotation

1. Hot Sectors

Source: Dune, Dot Labs

Source: Dune, Dot Labs
2. Internal Sector

Source: Dune, Dot Labs