Daily Report | Vitalik: Wanxiang may save "Ethereum's life," and he may never return to Russia; Zhao Changpeng posts with the image "Alt," possibly hinting at the arrival of altcoin season; Binance launches multiple spot trading pairs including ENA/BRL and trading bot services
December 3 News OverviewOrganizer: Luan Peng, ChainCatcher
Important News:
- Nike's crypto fashion brand RTFKT announces gradual end of operations
- Sonic Labs mainnet generates first block, token airdrop snapshot completed
- Mining company Core Scientific plans to issue $500 million convertible senior notes
- Vitalik: Wanxiang may save "Ethereum's life," may never return to Russia
- Cambodia blocks 16 cryptocurrency trading websites
- Multi-asset investment platform Public completes $135 million equity and debt financing, led by Accel
"What important events happened in the last 24 hours"
Nike's crypto fashion brand RTFKT announces gradual end of operations
Nike's crypto fashion brand RTFKT announced it will cease operations, with its Web3 services gradually stopping before the end of January 2025. RTFKT will launch an updated website showcasing the groundbreaking works that define its journey.
During this transition period, RTFKT will launch MNLTH X in December this year, using BLADE DRoP, which it claims symbolizes its commitment to continue pushing boundaries and merging worlds.
Sonic Labs mainnet generates first block, token airdrop snapshot completed
According to The Block, Layer1 blockchain project Sonic Labs (formerly Fantom) announced that its mainnet has generated its first block, marking the completion of the "Genesis" phase, and is expected to officially launch soon. A few days prior, the project also launched the upgraded testnet "Blaze."
The team previously announced that the mainnet is expected to go live at the end of November or early December. Sonic Labs has completed the snapshot for the S token airdrop allocation, supporting a 1:1 exchange with Fantom's FTM token, and introduced Sonic Gateway for cross-chain bridging functionality.
Mining company Core Scientific plans to issue $500 million convertible senior notes
Mining company Core Scientific is privately placing $500 million of convertible senior notes due in 2031 to qualified institutional buyers. Core Scientific also hopes to grant initial purchasers of the notes a purchase option to settle within 13 days from the date of initial issuance, allowing for an additional purchase of up to $75 million in principal of the notes.
Core Scientific intends to use the net proceeds from this offering for general corporate purposes, including working capital, operating expenses, capital expenditures, acquisitions of complementary businesses, or repurchases of its securities.
Vitalik: Wanxiang may save "Ethereum's life," may never return to Russia
Ethereum co-founder Vitalik Buterin stated in an interview with Wu Says Blockchain that after the launch of Ethereum's main chain in 2015, the foundation was nearly out of funds. Wanxiang purchased 410,000 Ether at $1.20 each, totaling a $500,000 investment to support the foundation's development, which may have "saved the foundation's life." Vitalik believes the idea of large blocks is more correct, but the lack of execution capability is the main reason for its failure. He pointed out that the Bitcoin community is currently too focused on price, with an unoptimistic outlook on technological development.
Regarding the Russia-Ukraine war, Vitalik stated that this conflict has completely changed him. After publicly supporting Ukraine, he realized he may never be able to return to Russia and could even face a 10-15 year prison sentence.
On Ethereum's positioning, Vitalik prefers the concept of a "world computer," believing it is not just a chain but an ecosystem that can support various applications.
Cambodia blocks 16 cryptocurrency trading websites
Cambodia has blocked access to 16 cryptocurrency trading websites, including Binance and Coinbase, but has not blocked their applications.
Cambodia faces international pressure to improve its reputation as a center for online scams, and the government is attempting to regulate cryptocurrencies and other digital services.
Multi-asset investment platform Public announced it has completed $135 million in equity and debt financing, including $105 million in equity and $30 million in debt. The new funding will be used to enhance the AI capabilities of the Public platform. Long-term supporter Accel is the lead investor. Previously, Public had raised over $300 million in venture capital.
Public announced the launch of cryptocurrency trading services in 2021, competing with Robinhood Markets, as individual investors using the platform could only trade stocks and ETFs listed in the U.S., now expanding to cryptocurrencies, treasury bills, and artworks. Its target customers are young crypto users.
Zhao Changpeng posts image "Alt," possibly hinting at the arrival of altcoin season
Binance founder Zhao Changpeng posted, "Which key is available on Windows and Linux but not on Mac?" along with an image of "AIt," possibly hinting at the arrival of altcoin season.
Binance launches multiple spot trading pairs including ENA/BRL and trading bot services
According to an official announcement, Binance will launch spot trading pairs ENA/BRL, EOS/FDUSD, KAIA/USDC, SAND/USDC, XLM/FDUSD, and XLM/USDC on December 4, 2024, at 08:00 (UTC), providing users with more spot trading options.
Additionally, Binance will open trading bot services for the following trading pairs on December 4, 2024, at 08:00 (UTC):
Spot Grid and Spot DCA: AVAX/USDC, METIS/USDT, RONIN/USDT, and XRP/EUR
Rebalancing Bots: METIS/USDT, RONIN/USDT
Spot Algorithmic Orders: ENA/BRL, EOS/FDUSD, KAIA/USDC, SAND/USDC, XLM/FDUSD, and XLM/USDC
Data: Bitcoin long-term holders' current holdings drop to 12.45 million, a new low since July 2022
According to IntoTheBlock data, Bitcoin long-term holders' current holdings have dropped to 12.45 million, marking a new low since July 2022. The data shows that the reduction in long-term holders during this cycle is only 9.8%, significantly narrower than the 15% during the 2021 bull market cycle and 26% during the 2017 bull market cycle.
Web3 asset data platform RootData tweeted that tokens compliant with ISO 20022 have performed strongly, with an average increase of 72.96% over the past 7 days, and a median increase of 63.94%.
It is reported that ISO 20022 is an international standard that provides a secure and standardized way for organizations in the payment industry to exchange financial messages. This standard will replace the SWIFT financial messaging system, which has been in use for 50 years, facilitating global payments for banks and other financial institutions. The ISO 20022 cryptocurrency list is a collection of compliant digital currencies and tokens that meet the International Organization for Standardization (ISO) 20022 standard. Many cryptocurrencies will be integrated into this new financial system, referred to as ISO 20022 compliant cryptocurrencies.
"What are some great articles worth reading in the last 24 hours"
Hashkey Capital Report: Why are we bullish on altcoins?
Since 2016, in four instances where Bitcoin reached new cycle highs, the altcoin index outperformed Bitcoin in the three months leading up to those highs, with the only exception occurring in the second quarter of 2016.
Why did the veteran DeFi leader CRV rise? Which related tokens are worth paying attention to?
Bitcoin has stalled before the psychological barrier of $100,000, while Alts have caught up, causing BTC's market share to temporarily fall below 55%.
The DeFi sector has performed well, rising over 20% in the past 7 days, while Curve Finance's token CRV led the DeFi sector with a weekly increase of over 50%, second only to THE, which benefited from Binance's listing, and the Curve ecosystem protocol Convex's token CVX.
Coin Center: Are we too optimistic about Trump's potential crypto policies?
Cryptocurrency has garnered a lot of attention in the recent elections, with many wondering how friendly the new government and Congress will be. In short, we expect improvements in certain areas, while others will still face challenges. We anticipate that good policy implementation may be easier in securities and banking regulation, while there may be clearer rules to regulate centralized secondary markets and centralized stablecoin issuers.
The outlook in anti-money laundering, tax reporting, and sanctions areas is less certain. Coin Center will continue to focus on protecting the rights of developers of self-custody and privacy software, as well as the rights of ordinary Americans who wish to use these tools. Here are our thoughts on these issues and our preliminary analysis of future opportunities and challenges.
In the previous article "Reviewing Market Data from the Past 4 Years, What Stage of the Bull Market Are We In?" we concluded based on four years of market and price data starting from 2020 that transaction fees, active buy transaction volume, and total transaction volume are effective leading indicators of market trends, but these three indicators have given two completely opposite conclusions. The transaction fee indicates that the current market has just entered a slight FOMO phase from a calm period, but active buy transaction volume and total transaction volume have already reached historical highs, indicating a potential market top.
The author believes that the divergence in indicator conclusions is mainly caused by the rise of Bitcoin spot ETFs and the popularity of "MicroStrategy-style" coin hoarding, with funds flowing in from outside the "traditional crypto circle" driving Bitcoin prices and transaction volumes up. On the other hand, their trading is isolated from CEXs like Binance and has a completely different leverage form, leading to a disconnection between transaction fees and prices.
Therefore, the author aims to explore what stage of the bull market we are ultimately in through other more general, intuitive, and historically longer-standing indicators.
The past November was destined to be a month where Bitcoin danced with MEME. PNUT became the brightest star in the MEME track in November, creating a record of exceeding $2 billion in market value in a single month from zero, and generating countless wealth myths for diamond hands and smart money.
Setting aside the support from Elon Musk's endorsements and mainstream exchanges like Binance listing, how did those smart money and diamond hands seize this golden project? What is the current state of on-chain chip distribution? PANews conducted extensive data analysis on the top 1000 holding addresses of PNUT on-chain, attempting to unveil the secrets of these leading chips.
First, an explanation of the data sources and methods for this analysis. This analysis uses the top 1000 on-chain holding addresses as of November 28 as the analysis object. Due to issues with transaction data sources, robot addresses, exchange addresses, transaction pool addresses, or abnormal addresses were excluded, resulting in an analysis of approximately 624 addresses regarding their first buy or transfer situations (price, amount), first sell or transfer situations (price, amount), some related addresses, some large holder addresses, and early on-chain buy and sell addresses.
