Bitget Daily Digest | Owner of Peanut the Squirrel sues exchange, Trump family project purchases $ONDO (December 16)      

Market highlights

1. BTC hits new highs: World Liberty Financial, a cryptocurrency project backed by Donald Trump, invested over $50 million in mainstream assets this month, including a recent purchase of more $ONDO. Michael Saylor of MicroStrategy hinted at buying BTC at an average price of over $100,000, drawing market attention.

2. ai16z's founder announced the development of Eliza v2, which includes a unified proxy wallet and an extensible core framework. The Rust-based AI development framework, $ARC, saw its market cap surpass $150 million. The wave of AI agents is driving significant wealth creation and accelerating the AI+Crypto ecosystem. With ai16z and the Virtuals ecosystem at the forefront, the Rig framework could become the next large-scale application due to its practicality and low entry barrier.

3. Over the past week, NFT sales reached approximately $224 million, with Ethereum leading at $119 million. As the ME airdrop and the launch of Pudgy Penguins' $PENGU token approach, Pudgy Penguins and its sub-series, Lil Pudgys, hit record-high floor prices. OpenSea has registered a foundation, sparking rumors of a token launch, which may signal a new NFT market trend.

4. Bitget launches LaunchX, debuting Fuel Network (FUEL) with $80 million in funding. Bitget is the only CEX offering a public sale for Fuel, with an appealing public sale fully diluted valuation (FDV) of just $200 million, compared to Fuel's final funding FDV of $1 billion. Hyperliquid's TVL surpassed Arbitrum and BASE, ranking sixth in the market. HYPE token's latest price reached $23.6. The owner of Peanut the Squirrel has sued Binance, accusing them of unauthorized use of intellectual property and promoting $JFP.

Market overview

1. BTC has shown a gradual climb toward $105,000, with overall market performance fluctuating. ETH/BTC stopped its decline and rebounded, while top trading volumes remain dominated by established tokens.

 2. The Nasdaq 100 Technology Sector closed up over 1.2%, with semiconductor ETFs showing standout performance, rising more than 2.5%. The US Dollar Index gained over 0.8%. The Nasdaq-100 Index reconstitution was announced, adding Palantir Technologies and MicroStrategy.

3. Currently at 104,385 USDT, Bitcoin is approaching a potential liquidation zone. A 1000-point drop to around 103,385 USDT could trigger over $470 million in cumulative long-position liquidations. Conversely, a rise to 105,385 USDT could lead to more than $40 million in cumulative short-position liquidations. With long liquidation outpacing short positions, it's advisable to manage leverage carefully to avoid large-scale liquidations.

4. Over the last 24 hours, BTC spot saw $3.2 billion in inflows and $2.6 billion in outflows, resulting in a net inflow of $600 million.

5. In the past 24 hours, $XRP, $DOGE, $SOL, $LINK, and $PEPE have led in futures trading net outflows, signaling potential trading opportunities. 

Highlights on X

1. Haotian: Early-stage benefits and analysis of hot AI agent projects

The AI agent market is still in its early stages, and most existing projects resemble meme-inspired initiatives, making traditional value evaluation challenging. Early participation in innovative projects increases the chances of substantial gains. The market is highly competitive, with frequent debates between the community and project teams over token names, language frameworks, and open-source versus closed-source options. In general, projects aiming for small-scale innovations show real potential. Eliza and Virtual lead the way with open-source collaboration and tokenomics consensus, respectively. However, the ARC and Eliza frameworks still need validation. The AI agent sector is full of startups and uncertainties, offering significant opportunities. The integration of AI agents and blockchain is inevitable, and understanding decentralization's core principles is key to long-term success in the crypto industry.

X post: https://x.com/tmel0211/status/1868130273017364633

 

2. BITWU.ETH: The logic and innovation behind Hyperliquid's success

Hyperliquid's success mirrors how the Qin dynasty expanded by developing unused lands and attracting settlers to strengthen its forces. Initially modest in size, the decentralized perpetual contract market remains an underdeveloped niche, overlooked by traditional CEXs. However, this niche still presents a great opportunity for decentralized trading—particularly for Hyperliquid. The platform capitalized on this opportunity with innovative technical features, a robust community ecosystem, and the upcoming EVM chain, creating significant wealth effects and attracting new users eager to explore novel DeFi strategies.

X post: https://x.com/BTW0205/status/1868113520321245367

 

3. @bitfool1: The rise of Dog in the BTC ecosystem: A potential dark horse?

While the market's focus remains on AI, Bitcoin's memecoin Dog is showing explosive potential. With a market cap of around $900 million, Dog has surpassed ORDI, which has a market cap of $700–800 million. This suggests that the Runes standard may replace BRC-20, and Dog is poised to become a leading memecoin on the Bitcoin chain. Taking into account SHIB's share of 3.4% of Ethereum's market cap and WIF's share of 2.7% of Solana's market cap, if Dog reaches just 1% of BTC's market cap, it would represent a 22x increase. With the doubling of BTC itself, the potential yield could be as high as 45x. This straightforward logic feels more reassuring than speculative AI narratives. The best time to invest for explosive returns is often when a niche remains underappreciated by the market.

X post: https://x.com/bitfool1/status/1867502060058669394

 

4. @CryptoKaleo: Signs of an NFT bull market

All signs point to an upcoming NFT bull market. Magic Eden just rewarded its users with $ME. Pudgy Penguins are preparing to launch $PENGU, and Milady recently rewarded its holders with $CULT. Additionally, the speculation surrounding OpenSea's token launch is reigniting market activity. More projects are planning to distribute tokens to their communities, strengthening the memecoin ecosystem. These communities, tempered by the bear market, now have solid user bases. With capital flowing back into the NFT market and renewed enthusiasm for art and NFTs, they may become the next FOMO hotspot.

X post: https://x.com/CryptoKaleo/status/1868075875666706694

 

Institutional insights

1.VanEck Ventures: About 30% of U.S.–Mexico remittance volume could be processed using stablecoins within the next 3–5 years.

Read the full article here: https://www.theblock.co/post/330913/the-funding-stablecoins-vc-interest

2.@RyanSAdams: Ethereum has the potential to become a reserve asset.

X post: https://x.com/RyanSAdams/status/1867940910501097825

3.@GreeksLive: Strong ETF inflows and a rising U.S. stock market could benefit cryptocurrencies.

X post: https://x.com/BTC__options/status/1868304388055523571

4.@AutismCapital: Around 8000 Google quantum chips are needed to hack Bitcoin algorithms.

X post: https://x.com/AutismCapital/status/1867686725675626579

 

News updates

1. The FBI is addressing a rise in crypto scams involving fraudulent investment and employment schemes.

2. European Banking Authority: 17% of EU banks plan to engage in tokenized deposits within the next two years.

3. Progmat, Japan's tokenization platform: Supported by MUFG, Progmat is exploring the potential for tokenizing overseas real estate.

4. The Monetary Authority of Singapore (MAS) has licensed around 30 payment companies to offer cryptocurrency services.

 

Project updates

1. Magic Eden co-founder: The $ME token is just the beginning, with additional plans to follow.

2. Pudgy Penguins community manager: There are no intentions to compete with CryptoPunks.

3. OpenSea's registration of a foundation: Speculation about an airdrop is heating up, with a new version potentially launching this month. 

4. Dogecoin's vulnerability: Dogecoin has been found to have a vulnerability, called "Dogereaper," which could affect the node structure.

5. Aave's lending activity surges on Ethereum: Net flows have reached $500 million.

6. ai16z founder: Development of Eliza v2 is underway, introducing the unified agent wallet and an extensible core framework.

7. Abstract Chain: A company under Pudgy Penguins' parent company has announced it will launch its mainnet in January 2024.

8. Floki: Will support the launch of the AI agent protocol BAD on the BNB Chain, with 35% of tokens airdropped to the Floki ecosystem.

9. DEXX: The latest platform version now offers a compensation portal.

10. Curve Finance: Votes to increase the maximum fee share of savings crvUSD to 50%.

 

Token unlocks

Cardano (ADA): Unlocking 37.09 million ADA, valued at $39.69 million, accounting for 0.1% of the circulating supply.

Arbiturm (ARB): Unlocking 96.02 million ARB, valued at $94.1 million, accounting for 2.3% of the circulating supply.

 

Recommended reads

2024 & 2025: BTC's final mega cycle – The value and price of BTC

BTC may peak in this bull market in Q4 2025, following two significant mid-term bull market trends, in addition to the "first wave" that has already occurred. The industry could then enter a prolonged winter, similar to what happened in 2000-2001 after the burst of the dot-com bubble.

Read the full article here: https://www.bitgetapp.com/zh-CN/news/detail/12560604422334

 

Google trends as a retail barometer: Key insights 

Despite Bitcoin hitting new highs, its search interest remains below historical levels, aligning more closely with searches for "Crypto."

Read the full article here: https://www.bitgetapp.com/zh-CN/news/detail/12560604422036