Usual

CryptoQuant CEO: The Bitcoin bull market cycle has ended, and it usually takes about six months to reverse

ChainCatcher news, CryptoQuant founder and CEO Ki Young Ju posted on the X platform that the Bitcoin bull market cycle has ended, for the following reasons:There is a concept in on-chain data called realized market cap. It works as follows: when BTC enters a blockchain wallet, it is considered a "buy," and when it leaves, it is considered a "sell." Using this idea, the average cost basis of each wallet can be estimated by multiplying it by the amount of BTC held, resulting in the total realized market cap, which is generally seen as the total capital that has entered the Bitcoin market through actual on-chain activity, while the market cap is based on the latest trading prices on exchanges.When selling pressure is low, even small purchases can drive up the price, thereby increasing the market cap. Strategy has taken advantage of this by issuing convertible bonds and using the proceeds to buy Bitcoin, resulting in the book value of their held Bitcoin growing far beyond the actual capital invested. However, when selling pressure is high, even large purchases cannot change the price; for example, when the Bitcoin trading price approaches $100,000, the market trading volume is huge, but the price hardly changes.The realized market cap shows how much actual money has entered the market, while the market cap reflects how prices respond. If the realized market cap is growing but the market cap is stagnant or declining, it indicates that capital is flowing in, but prices are not rising—this is a typical bearish signal. On the other hand, if the realized market cap is flat while the market cap soars, it suggests that even a small amount of new capital is pushing prices up—this is a bullish signal. What we are currently seeing is the former, where capital is entering the market, but prices are not responding, which is a typical characteristic of a bear market.In short: when small capital drives prices up, it is a bull market. When large capital cannot push prices up, it is a bear market. Current data clearly points to the latter. Selling pressure could ease at any time, but historically, a true reversal takes at least six months—therefore, a short-term rebound seems unlikely.

RootData: Large token unlocks are usually accompanied by positive news that drives up prices, with infrastructure, Layer 1/2, and DeFi remaining the hottest sectors

ChainCatcher news, RootData released the "2024 Web3 Industry Investment Research Report." The report shows that in 2024, VC coins have become a daunting term, with the crypto market bearing its exit liquidity. Projects such as Optimism, Sui, Aptos, Ethena, dydx, and Cardano unlock over 30 million tokens each month. Among these, there have been 9 major unlocking events (single transactions exceeding 100 million USD), namely INJ, MEME, PYTH, AVAX, SUI, W, JTO, APT, TIA.Comparing the prices before and after token unlocks, it is found that project parties can significantly raise token prices before large unlocks through early announcements of positive information, marketing, and other means. Over-the-counter (OTC) trading is the method with the least impact on token prices for exiting, which can eliminate the risk of significant token price drops.In addition, based on the popular tags from RootData over the past year (with over 5000 clicks), infrastructure, Layer 1/2, and DeFi remain the hottest tracks in blockchain. Tags such as artificial intelligence and DeSci have seen a rapid increase in clicks, with representative projects like Virtuals Protocol and Bio Protocol consistently ranking high on the RootData popularity list.The popularity of some high-click tags usually lasts only 1-3 months, such as DePIN, Tap to Earn, and the Bitcoin ecosystem.

After the USD0++ unpegging, Usual plans to activate the yield switch function and initiate 1:1 early unstaking to stabilize the ecosystem

ChainCatcher news, RWA stablecoin issuer Usual announced on platform X that it has realized the significant reaction from the community due to its pegged stablecoin USD0++ deviating sharply from 1 dollar, and therefore will launch a series of measures to address user concerns and stabilize the ecosystem.It is reported that the "Revenue Switch" feature is set to launch on January 13, allowing Usual Protocol to share its earnings from real-world assets and protocol operations with the community. The team expects monthly revenue of about 5 million dollars, with an annual return rate exceeding 50% under current conditions. These distributions will occur weekly to reinforce the actual value of USUAL, balance its economic model, and the revenue generated by the protocol. (The Revenue Switch feature will officially activate when more than 50% of USUAL tokens are staked as USUAL x. If the requirement is not met, it will automatically activate on February 1, 2025. Once activated, 100% of the revenue (up to 5 million dollars per month) will flow to USUALx stakers in the form of USD0.)In addition, the Usual Protocol team also stated that it will launch the "1:1 Early Unstaking" feature next week, allowing users to exchange USD0++ at a rate of 1 dollar, but requiring them to forfeit part of their accumulated rewards as a penalty.
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