Web3 AI Daily Review (2024/12/10)

I. Attention Value - Market Highlights

1. Market Trends

(1) Macroeconomic Environment:
l Hester Peirce's crypto regulation suggestions: A new direction for industry development
On December 10, during an interview with FOX Business reporter Eleanor Terrett, SEC Commissioner Hester Peirce proposed three recommendations for the new SEC under the Trump administration regarding crypto regulation. First, she suggested halting government regulatory bottlenecks on cryptocurrency access services to promote industry growth. Second, Peirce emphasized the need to clarify which matters fall outside the SEC's jurisdiction and which are not securities, thereby reducing the regulatory burden on relevant entities. Finally, she called for collaboration with entities involved in cryptocurrency to explore the applicability of existing rules and necessary adjustments, believing this process should occur in public to encourage broad participation and quickly reach consensus.
Peirce's suggestions aim to create a more flexible and transparent regulatory environment, which could positively impact the cryptocurrency industry. By eliminating regulatory barriers, industry participants can more easily access necessary services, while clarifying which matters are not subject to SEC oversight will help reduce compliance costs. Additionally, collaborating with the industry to discuss the applicability of rules can ensure that regulatory policies align with market realities, thereby enhancing market confidence.
(2) Web3 Sector:
l Altcoins plummet: Over 570,000 liquidations, market panic intensifies
On December 10, Bitcoin's price dropped to $94,000, leading to extreme volatility in altcoins. Ethereum hit a low of $3,509, with a 24-hour decline of 7.15%; SOL fell to $203, down 7.35%; SAGA dropped by 24%; 1INCH fell by 23.6%; HMSTR decreased by 23%; NOT hit a low of $0.00615, down 22.48%. According to Coinglass, over the past 24 hours, 572,395 people were liquidated across the network, a figure far exceeding the "312 crash" event. Following this plunge, the funding rates for contracts on mainstream centralized exchanges generally returned to normal levels, with most altcoin contract funding rates dropping below 0.005%, entering a "generally bearish" state, and some altcoin contracts on individual exchanges even showing negative rates.

2. Hot Events

(1) Macroeconomic Environment:
l Nubit responds to CZ: Bitcoin payments surpass traditional finance, moving towards a "world computer" era
On December 10, Nubit responded to CZ's view that "Bitcoin payments are superior to traditional finance," pointing out that Bitcoin's intermediary-free, trustless settlement method has surpassed traditional finance (TradFi), but this is just the beginning. Through BitVM, Bitcoin will break through the limitations of "payments" and move towards a true "world computer." Previously, in response to "Amazon shareholders proposing to explore Bitcoin financial strategies," CZ stated on X platform: "Simple question, do you accept Bitcoin payments?" When users questioned "Bitcoin is not a good payment method," CZ replied: "Indeed. I paid $17.08 with Bitcoin yesterday but had to wait 15 minutes for confirmation. However, it's still better than traditional finance. I didn't need to call anyone to fix it; it settled after 15 minutes. Crypto, I agree."
(2) Web3 Sector:
l Ethereum developer Max Resnick joins Solana development company Anza
Ethereum developer Max Resnick announced on December 9 that he is joining Solana's core development company, Anza. Resnick stated on social media that he plans to focus on writing technical specifications for the Solana protocol during his first 100 days at Anza, particularly in the areas of the fee market and consensus implementation, aiming to make the most significant impact. At the same time, he will continue to collaborate with the Consensys team as an advisor. Resnick previously served as the research director of Consensys's Special Mechanisms Group and is known for his criticism of Ethereum's scaling strategies. He believes that some ideas surrounding Layer 2 are misguided and advocates for Ethereum to focus on scaling the base layer. Resnick's transition is seen by industry insiders as a way to facilitate technical exchanges between Ethereum and Solana, potentially bringing more attention to Solana's technical roadmap.

3. Hot Narratives

l TikTok concept coins surge against the trend, sparking heated discussions
In the early morning, TikTok concept coins experienced explosive growth, contrasting sharply with the overall market decline. $Luigi, based on a social news background, refers to a 26-year-old man, Luigi Mangione, who was arrested at a McDonald's in Altoona, Pennsylvania, for allegedly attempting to assassinate UnitedHealth Group CEO Brian Thompson. Mangione comes from a wealthy family and holds a computer science degree from the University of Pennsylvania. Netizens believe this incident touches on deeper social issues such as economic inequality, educational background, and mental health, sparking heated discussions, especially on TikTok. The market cap of the Luigi token peaked at $63.8 million, with an increase of nearly 494 times, although it has since retraced, the market enthusiasm remains high.
Another standout token is $APPLE, which originated from a dog that became popular on TikTok for loving apples, with related videos garnering over 170 million views. Since its launch on December 4, the APPLE token's market cap soared to $48.64 million before experiencing a pullback. Notable investor Marc Andreessen also referred to the dog as a "good boy" on social media, further boosting the APPLE token's popularity.

II. Attention Value - Hot Projects

1. Project Introduction
l $venti | AI Agent | @Venti @vmfunc
- Created by Open AI developers.
- The first AI integrated with 4chan, allowing artificial intelligence to self-explore and learn on the anonymous site 4chan.
- The core is a personality engine architecture that can maintain persistent character traits while allowing for natural evolution through interaction with users.

III. Attention Value - Sector Rotation

1. Hot Sectors

Data Source: Dune, Dot Labs

Data Source: Dune, Dot Labs

2. Internal Sector
   

Data Source: Dune, Dot Labs