Flash

Odaily Planet Daily reports that stablecoin issuer Circle announced that its CircleMetals has launched a tokenized gold and silver swap service based on USDC. This new service allows users to seamlessly exchange USDC for tokenized gold (GLDC) and tokenized silver (SILC) at real-time market rates, aiming to bring the stability and transparency of precious metals into the programmable blockchain financial world. (Decrypt)

PANews December 24 News, Scroll stated on the X platform that some announcements in the past few months led some people to mistakenly believe that Scroll DAO was shutting down. The misunderstanding was caused by the announcement of a governance restructuring, but this move is not intended to shut down the DAO. DAO governance will continue and will be improved based on the lessons learned.

The EU's new Digital Asset Tax Transparency Act DAC8 will come into effect on January 1, requiring crypto asset service providers to collect and report user and transaction information to enhance tax cooperation. Parallel to the MiCA regulation, the DAC8 directive regulates tax flows and includes a compliance transition period.

Odaily星球日报讯 特朗普已将美联储主席候选人范围缩小至四人，华尔街共识认为，白宫顾问凯文·哈塞特将获得这一职位。在特朗普第一任期担任白宫经济顾问委员会主席期间，哈塞特确实展现出一定的“独立性”。他在 2021 年的回忆录中回忆道，许多幕僚“从一开始就想让我离开白宫”。如果是 2025 年之前的哈塞特执掌美联储，几乎不会有人反对。但担忧在于，届时上任的将是 2025 年的哈塞特。（金十）

JPMorgan analysts point out that by 2025, retail investors' funds in the US stock market will grow by 53%, reaching $303 billion, becoming the main force driving the stock market rally. Retail trading volume accounts for 20% to 25% of the total, reaching a high of 35% in April, and this momentum is expected to continue into next year.

ChainCatcher 消息，据市场消息，Aave 创始人 Stani Kulechov 近日因购买价值 1,000 万美元 AAVE 代币而引发社区争议。批评者指出，此举或为增强其在关键治理提案投票中的影响力。当前争议集中在一项关于收回协议品牌资产控制权的提案上，该提案被指在未充分讨论的情况下匆忙进入投票阶段。数据显示，Aave DAO 中前三大投票者控制超过 58% 投票权，引发治理机制公平性质疑。

Odaily星球日报讯 美国至 12 月 20 日当周初请失业金人数 21.4 万人，预期 22.4 万人，前值 22.4 万人。美国至 12 月 20 日当周初请失业金人数四周均值 21.675 万人，前值 21.75 万人。美国至 12 月 13 日当周续请失业金人数 192.3 万人，预期 190 万人，前值由 189.7 万人修正为 188.5 万人。（金十）

Gate CEO Dr. Han stated that 2025 will be a pivotal year for the crypto industry. Influenced by regulation, institutional investment, and the rise of on-chain platforms, the market landscape is changing. Gate is upgrading its infrastructure to adapt to these trends, launching the CrossEx platform to support cross-exchange trading, enhancing the experience for professional users, with a focus on security and transparency. Looking ahead, AI will help simplify trading operations.

ChainCatcher Message, according to official news, from now until December 31, JustLend DAO invites users worldwide to share exclusive profit strategies. Whether users are skilled in liquidity mining, leveraged lending, or combination strategies, as long as they can demonstrate how to achieve smart returns through JustLend DAO, they will have a chance to share a 500 USDT prize pool. Participants are required to follow the official Twitter and include the hashtag TRON ECO Holiday Odyssey to share their strategy plans and simulated earnings. Winners will be selected based on the feasibility, creativity, profit potential, and engagement of their strategies. This competition is not only a strategic contest but also a showcase of the strength and vitality of the TRON DeFi ecosystem. As a foundational financial protocol, JustLend DAO will continue to provide stable liquidity to the entire ecosystem.

Foresight News 消息，以太坊联合创始人 Vitalik Buterin 发表预测称，「bug 是不可避免的，你不可能编写无 bug 代码」这一说法将在 2030 年代不再成立。他认为，虽然许多软件仍会存在 bug（因为在特定用例中，功能收益更为重要），但如果开发者真正希望拥有无 bug 代码，那么在 2030 年代将能够实现这一目标。

Odaily Planet Daily reports that Etherscan posted data on the X platform revealing that Ethereum L1 processed 1,913,481 transactions on December 23, setting a new record for the highest daily transaction volume in 2025, with an average transaction fee of $0.16.

ChainCatcher News, according to an official announcement, Gate Web3 Wallet will launch the "ETH 2025 Year-End Prediction Event" from December 24 to December 31, inviting users to jointly predict the ETH year-end closing time. Users can complete designated Swap or Web3 DEX trading tasks within the Gate App and submit their predictions for the ETH closing price on December 31 through the official form for a chance to win generous cash rewards. In addition, Meme Go, an efficient trading tool under Gate Web3, has launched a long-term "Global Smart Money Finger Recruitment Program." This program is open worldwide to recruit on-chain hunters and community members with sharp intuition.

By 2025, Elon Musk's Department of Government Efficiency implemented massive layoffs, but the number of US government employees decreased by 9% and failed to effectively save costs, with expenditures actually increasing by nearly 6%. Musk had considered establishing a third party but later resumed donations to the Republican Party.

ChainCatcher reports that, according to CoinDesk, the UK Financial Conduct Authority (FCA) has approved Avian Labs' crypto payment application Sling Money to offer crypto services in the UK, making it one of the crypto payment companies with regulatory support in major jurisdictions. The app is currently in closed beta testing in the UK and has previously received regulatory approval in the Netherlands and the United States.

This article summarizes cryptocurrency news as of December 24, 2025, including the latest updates on Bitcoin, Ethereum upgrades, Dogecoin trends, real-time cryptocurrency prices, and price forecasts. Major Web3 events today include: 1. Yili Hua: ETH's future target is $10,000, currently the best buying zone; 2. Polymarket user accounts were hacked, causing controversy; official response: related to third-party login tools 3. Mentougou hacker may sell 1,300 BTC within 7 days, currently still holding 4,100 BTC

Against the backdrop of mainstream Layer-1 blockchains like Ethereum, Solana, and BNB Chain continuing to dominate market attention, Bitcoin Cash (BCH) is showing signs of independent strength with a relatively low profile. Multiple market and on-chain data indicate that BCH could become one of the most outstanding Layer-1 altcoins by the end of 2025, with its potential breakout brewing. In terms of price performance, Bitcoin Cash has increased by nearly 32% since the beginning of this year, significantly outperforming several mainstream blockchains, including Ethereum, Solana, and Tron. More notably, BCH's rise has been almost unaffected by ETF expectations or strategic reserve concepts, suggesting that its market movement is driven more by its own network activity and capital behavior rather than external narratives. This also highlights BCH's inherent resilience as a Bitcoin fork asset, which remains intact after multiple market cycles.

After a noticeable correction in the fourth quarter, XRP price has endured sustained downward pressure, with most of the earlier gains being retraced. As selling accelerates, the market is beginning to worry that XRP may not be able to sustain the consecutive annual gains of the past two years and could end 2025 with losses. However, some investors still hope that buying interest before the end of the year can bring a turnaround to the price. From on-chain data, XRP holders showed a clear pattern of loss-taking sales in the fourth quarter. The realized profit and loss indicator shows that a large number of investors are choosing to close positions at a loss, which is uncommon among large cryptocurrencies. Typically, long-term holders prefer to wait for a rebound during a decline, but the current selling behavior reflects a rising uncertainty about XRP's short-term prospects, with risk aversion sentiment outweighing long-term confidence.

With the launch of the Midnight network and its native token NIGHT in the Cardano ecosystem, there was a discussion in the community about whether it would replace ADA. In response, Cardano founder Charles Hoskinson clarified that this understanding is a misconception. The goal of NIGHT is not to replace ADA, but to serve as an important component of Cardano's privacy network, expanding the application boundaries of the entire ecosystem without compromising ADA's core value. Midnight is a privacy and compliance extension layer within the Cardano system, focusing on privacy smart contracts, selective disclosure, and data protection that meets regulatory requirements. This direction has attracted market attention and also raised concerns among some investors about value transfer. Hoskinson emphasized that the existence of NIGHT is to enhance Cardano's overall capabilities, not to divert or weaken ADA's position.

As MicroStrategy (MSTR) stock price continues to strengthen, the Florida pension fund recently took a significant investment action by increasing its holdings in related stocks to indirectly gain exposure to the Bitcoin market. According to the latest disclosures, the fund has purchased approximately $47 million worth of MicroStrategy shares. This move indicates that the Florida pension fund has gained exposure to assets highly correlated with Bitcoin prices without directly holding Bitcoin. MicroStrategy is currently one of the publicly traded companies holding the largest amount of Bitcoin globally, with a substantial portion of its balance sheet allocated to Bitcoin. The company's founder and Executive Chairman Michael Saylor has long publicly supported Bitcoin and considers it an important reserve asset to combat inflation and enhance the company's long-term value. Therefore, investing in MicroStrategy stock has become an important alternative pathway for institutional investors to participate in the Bitcoin market.

Decentralized prediction market Polymarket recently faced account security controversies. Multiple users have reported that their Polymarket accounts were hacked without any abnormal operations, and funds within the accounts were quickly transferred out. In response to these series of account thefts, Polymarket officials have attributed the issue to an unnamed third-party login service provider. According to the platform's response on the official Discord channel, after user reports of fund loss and abnormal login activity, Polymarket has confirmed a security incident. Multiple user posts from Reddit and X indicate that some users, after receiving login alerts not initiated by themselves, found their account balances emptied. One user stated that neither their device nor other accounts had been compromised, but only $0.01 remained in their Polymarket account.

Cryptocurrency market maker DWF Labs officially takes a key step across boundaries by completing its first physical gold transaction, involving a gold bar weighing 25 kilograms. This move marks DWF Labs' departure from the solely digital asset sector and signals its systematic entry into the traditional commodities market, exploring the deep integration of digital finance and physical assets. The gold transaction occurred against the backdrop of rising gold prices. Amid increasing global inflation pressures, heightened macroeconomic uncertainties, and escalating geopolitical risks, gold's appeal as a traditional safe-haven asset has significantly increased. DWF Labs' decision to enter the physical gold market at this time is seen as a strategic and forward-looking move.

Early Bitcoin participant and prominent cypherpunk Adam Back recently reiterated his long-term stance, stating that Bitcoin is the "only choice to dominate all cryptocurrencies." This statement is highly consistent with the current market trend of Bitcoin's continued dominance and has once again sparked discussions in the market about Bitcoin's long-term value and its differences from other crypto assets. As the inventor of Hashcash, Adam Back was deeply involved in cryptography and decentralization research before the birth of Bitcoin. His ideas are widely believed to have had a significant influence on Satoshi Nakamoto's design. Therefore, his judgment on Bitcoin holds strong symbolic significance and reference value within the crypto industry.

The Bank of Japan's October meeting minutes show that members are wary of inflation risks, believing that corporate and household expectations have reached 2%. Core inflation is accelerating but has not yet met the target, and it is expected to achieve the price goal by next spring, supported by wage growth. Meanwhile, yen depreciation may drive up import prices, leading to an overshoot in inflation.

As the cryptocurrency market continues to be sluggish, the huge gap between the actual market value of many blockchain projects and their early venture capital valuations has been thoroughly exposed. CryptoRank summary data shows that many crypto startups once favored by venture capital firms and valued near or even reaching unicorn levels now have a market value in the secondary market that is only a small fraction of their previous valuation, reflecting a systemic valuation reset amid tightening liquidity. Data shows that Humanity Protocol was once valued at nearly $1 billion in venture capital funding, but its current market value is about $285 million. Fuel Network was also valued close to $1 billion during its funding stage, but its current market value is only about $11 million. Bubblemaps has a similar situation; its venture capital valuation was once high, but now its market value is only about $6 million.

Pi Network has spotlighted a global holiday commerce initiative that involved more than 220 merchants worldwide, underscoring its ongoing focus on real-world utility rather than price speculation. The campaign ran throughout the holiday period and centered on using Pi for everyday transactions across local businesses and ecosystem applications within the Pi Mainnet environment. Community-linked accounts shared details of the initiative on December 24, emphasizing growing merchant particip

The US Treasury is facing unprecedented pressure. In the fiscal year 2025, the interest payments on the US federal government debt will exceed $1 trillion for the first time, surpassing defense spending and also exceeding Medicare expenditures, setting a record high. This change has sparked widespread discussions about the sustainability of US finances and has also brought significant attention to the role of stablecoins in the macro financial system. Data shows that in the fiscal year 2020, the US net interest expense was only $345 billion, but by 2025, it has approached $970 billion; including all public debt interest, the total officially exceeds $1 trillion. The Congressional Budget Office estimates that over the next ten years, cumulative interest payments will reach $13.8 trillion, nearly double the amount of the past twenty years. Some institutions even warn that in a more pessimistic scenario, annual interest expenses could rise to $2.2 trillion by 2035.

As the large-scale Bitcoin options expiration approaches, the derivatives market structure is changing. Market participants believe that Bitcoin's price is expected to break out of the sideways trading range of $85,000 to $90,000 since December and make a push towards higher levels. Previously, amid a strong US stock market and gold reaching record highs, Bitcoin was confined to a range-bound oscillation for a long time, disappointing many investors. The key reason behind this was the hedging mechanism in the options market. Near the current price, a large number of options are expiring. Options give traders the right to buy or sell Bitcoin at a specific price, while option sellers typically hedge dynamically through spot and futures markets. Their behavior is influenced by "Delta" and "Gamma." When the price approaches the high Gamma zone, traders need to buy and sell frequently to hedge risks, which suppresses price volatility.

The debate over whether airdropped tokens should be held long-term or sold as soon as possible has once again become the focus of the crypto market. A recent on-chain and market data analysis shows that most airdropped tokens perform far below expectations after issuance, with rapid price declines becoming the norm. This has led to the view that "cash out immediately" is increasingly seen as a more rational strategy. Crypto trader Didi shared his airdrop records over the past year on the X platform, with quite a harsh result: out of 30 received airdrops, only 1 token is currently trading above its issuance price (TGE). Among them, M3M3 has dropped 99.64%, Elixir 99.50%, USUAL 97.67%; even well-known projects like Magic Eden have fallen 96.6%, Jupiter 75.9%, and Monad over 39%. The only token with a positive return is Avantis, which has increased by 30.4%.

Gate News Bot Message, December 24th, according to CoinMarketCap data, as of press time, XMR (Monero) is trading at $434.88, up 0.09% in the past 24 hours, with a high of $497.16 and a low of $407.63. The current market capitalization is approximately $8.022 billion, ranking 14th. Monero is a private, decentralized cryptocurrency dedicated to protecting users' financial privacy and security. As a true currency, XMR can be used to privately exchange goods, services, and other currencies, with extremely low transaction fees. Users can acquire Monero through various methods, including mining, providing services in exchange, or trading on exchanges. The Monero project is driven by a decentralized community of hundreds of volunteers from around the world, including the Monero Research Laboratory (MRL), composed of researchers and cryptographers, dedicated to continuously improving and enhancing the project.

As the end of the year approaches, the performance of Bitcoin and gold in terms of gains and losses has once again become a core topic in the cryptocurrency market and the macro investment circle. As two widely regarded "store of value" assets, Bitcoin and gold have shown very different price trends over the past two years, but their final returns are surprisingly close. This phenomenon has sparked a rethinking among investors about risk structures and asset attributes. Data shows that although Bitcoin and gold have had markedly different market rhythms over the past two years, their cumulative returns are almost the same. However, based on this year's performance, gold has clearly outperformed Bitcoin, with a significantly higher increase within the year. Market forecasts indicate that if current trends continue, by 2025, gold prices may outperform Bitcoin by approximately 79%, highlighting the appeal of safe-haven assets in uncertain environments.

In the past 6 hours, the whale address "20 million wave hunter" has been continuously closing short positions in ETH, HYPE, and others. Currently, the holdings amount to approximately $111 million, mainly focused on ETH and HYPE, with profits exceeding $104 million.

Gate News Bot Message, December 24th, according to CoinMarketCap data, as of press time, PI (Pi) is currently priced at $0.20, up 1.17% in the past 24 hours, with a high of $0.22 and a low of $0.20. The current market capitalization is approximately $1.708 billion, ranking 41st. Pi is the first digital currency that can be mined on mobile phones, achieving mobile mining without draining battery through breakthrough technology. PI features decentralization, mobile-first design, energy efficiency, and environmental friendliness, aiming to make cryptocurrency mining simple and accessible, providing ordinary users with the opportunity to participate in the cryptocurrency revolution. Users can start mining through a free mobile app, and can join simply by an invitation from existing trusted members in the network.

Spot gold first broke through $4,500 per ounce, with an increase of over 70% year-to-date, marking the best annual performance since 1979. Central banks around the world have increased gold reserves due to geopolitical risks and dependence on the US dollar, with Russia and China holding the largest reserves.

Gate News bot message, the cryptocurrency market experienced a decline as traders reduced risk exposure following macro news developments. Open Interest decreased by 5%. $ETH and $BTC ETFs recorded outflows last week, totaling nearly $1 billion, demonstrating institutional investor caution. $BTC tra

Recently, legendary trader Arthur Hayes has once again attracted market attention. According to on-chain data monitoring, he recently transferred 682 ETH into a mainstream CEX, which is worth approximately 2 million USD at current prices. This move is widely interpreted by the market as a potential sell signal and further reinforces the market expectation that “Arthur Hayes is betting on DeFi and is temporarily bearish on ETH.” The on-chain analysis platform Lookonchain revealed that Arthur Hayes has been systematically reducing his ETH holdings and shifting funds into yield-oriented DeFi tokens. Data shows that he has previously sold about 1,871 ETH, valued at approximately 5.53 million USD, and allocated the proceeds into DeFi project tokens such as ENA, PENDLE, and ETHFI. In the past week, Hayes has invested several million dollars into Ethena, Pendle, and ether.fi ecosystems, demonstrating a high level of confidence in DeFi yield models and protocol tokens.

Despite the overall easing macro environment, Bitcoin has not experienced a "Christmas rally" this year. Since reaching a record high in October, BTC prices have retreated by about 30%, significantly underperforming traditional risk assets such as stocks and gold. Analysts believe that the issue is not a deterioration in fundamentals, but rather multiple structural factors exerting short-term pressure on Bitcoin prices. First, there is the persistent "mechanical" supply pressure. Several analysts point out that early investors holding Bitcoin long-term are choosing to take profits in stages near the key psychological threshold of $100,000. Such selling behavior is not sensitive to price, and even if Bitcoin's fundamentals remain solid, it can create continuous selling pressure in phases, dragging down BTC's trend.

The latest regulatory documents show that Berkshire Hathaway, led by Warren Buffett, significantly adjusted its technology stock holdings in the third quarter, drastically reducing its Apple shares while increasing its Alphabet stock holdings, signaling a clear shift in investment focus toward artificial intelligence, cloud computing, and digital advertising. The documents disclose that Berkshire sold approximately 41.7 million Apple shares during the quarter, reducing Apple's share of its portfolio to about 21%. Compared to the peak of its holdings two years ago, Berkshire's cumulative reduction in Apple shares has reached approximately 74%. Although Apple remains one of its key core holdings, this change is interpreted by the market as Buffett beginning a structural rebalancing within the technology sector.

Foresight News 消息，据 Lookonchain 监测，可能有人正在操控 TST 价格。某巨鲸创建了 3 个钱包并向 Hyperliquid 存入了 247 万 USDC，以 1-2 倍杠杆做多 1.274 亿枚 TST（价值约 220 万美元）。该巨鲸仍在继续累积 TST 做多仓位。

As the market continues to be sluggish, Bitcoin is facing an unusual situation. The latest data shows that Bitcoin's current price has fallen below its opening price at the beginning of the year, which means it may experience its fourth annual decline since inception. Previously, Bitcoin only experienced annual declines in 2014, 2018, and 2022, and all three years were considered typical bear market cycles. Unlike in the past, the market environment in 2025 does not fully exhibit traditional bear market characteristics, which has also raised doubts among investors about the current trend. Analysts generally focus on the dramatic event on October 10th, known as "Black October." On that day, the crypto market experienced historically significant leverage liquidations, liquidity sharply contracted, and Bitcoin along with most altcoins suffered simultaneous heavy declines.

After the US GDP growth rate in Q3 2025 significantly exceeded expectations, the direction of monetary policy has once again become the market's focus. The latest data shows that the US Q3 GDP annualized growth rate reached 4.3%, significantly higher than the market consensus of 3.3%. Against this backdrop, President Trump publicly urged the Federal Reserve to start cutting interest rates as soon as possible to support economic expansion and unleash stronger growth momentum. In a public statement, Trump said that such strong economic performance itself proves that inflation risks are not out of control, and the Federal Reserve should adopt a more accommodative monetary policy. He criticized the current high interest rate levels, believing that maintaining high rates during an economic acceleration would instead suppress corporate investment and consumer demand, weakening the long-term potential of the US economy. This stance clearly diverges from the Federal Reserve's current policy approach, which centers on "anti-inflation priority."

Gate News Bot Message, December 24th, according to CoinMarketCap data, as of press time, PIPPIN (pippin) is reported at $0.48, up 25.03% in the past 24 hours, with a high of $0.50 and a low of $0.30. The 24-hour trading volume reached $82.6 million. The current market capitalization is approximately $479 million, an increase of $95.8 million from yesterday. Pippin is a project dedicated to building a gentle and inclusive community. The project is themed "Wobbly Worlds," emphasizing kindness interactions and organic connections, with infrastructure based on BabyAGI framework technology. The project includes the Pippin unicorn character design and its related storytelling philosophy, supported by a token mechanism for the community. ## Important recent news about PIPPIN: 1️⃣ **Sol

Japanese Bitcoin asset management company Metaplanet recently disclosed its capital and Bitcoin reserve plans, continuously strengthening market bullish expectations. Several analysts in the Bitcoin fund management field believe that if macro and crypto market conditions align, a significant rise in Metaplanet's stock before 2027 is not just wishful thinking. Bitcoin fund management analyst Hermes Lux predicts that Metaplanet's US OTC stock MPJPY could increase by approximately 1500% by the end of 2027, with a potential phased increase of 402% in 2026. This judgment is based on two key assumptions: first, that Bitcoin prices will maintain an average annual compound growth of about 40% over the next few years; second, that Metaplanet plans to increase its Bitcoin holdings to 100,000 BTC by 2026, and further to approximately 210,000 BTC in 2027.

Under the dual influence of year-end holidays and tightening liquidity, US spot Bitcoin and Ethereum ETFs experienced significant net fund outflows on the eve of Christmas, and market risk aversion sentiment has increased. Data shows that this round of capital withdrawal mainly reflects phased rebalancing and seasonal factors, rather than a fundamental change in institutional outlook on the long-term prospects of cryptocurrencies. According to SoSoValue data, the US spot Bitcoin ETF recorded approximately $188.6 million in net outflows on Tuesday, marking the fourth consecutive trading day of capital outflow. Among them, BlackRock's IBIT was the largest outflow product, with a single-day net outflow of up to $157.3 million. Meanwhile, Fidelity's FBTC, Grayscale's GBTC, and Bitwise's BITB also experienced varying degrees of capital outflows. Overall, the spot Bitcoin ETFs saw a total net outflow of about $497.1 million last week, contrasting sharply with the nearly $287 million net inflow in the previous week.

Gate News Bot message, December 24th, according to CoinMarketCap data, as of press time, ETH (Ethereum) is currently trading at $2927.89, down 1.16% in the past 24 hours, with a high of $3073.35 and a low of $2777.12. The 24-hour trading volume reached $19.497 billion. The current market capitalization is approximately $353.381 billion. Ethereum is a decentralized open-source blockchain network and software development platform powered by the cryptocurrency Ether (ETH). As a next-generation permissionless global infrastructure for applications, the Ethereum network is open to everyone, with no permission requirements, built and maintained collectively by thousands of individuals, organizations, and users worldwide.

Curve DAO (CRV) has been in a downward channel since August, with an overall bearish trend. After the price broke below $0.37, the market generally expected it to further decline to the long-term key support level of $0.243. However, CRV only briefly touched a low of $0.331 before quickly rebounding to $0.385, rising about 16% in just over four days, sparking discussions about a "trend reversal." From a structural perspective, this rebound is more of a technical correction rather than a trend reversal signal. Previously, AMBCrypto's analysis of CRV indicated that it remains in a clear bear market pattern. This rally just filled the imbalance area on the 6-hour chart and also absorbed some short-term selling pressure. Despite the presence of capitulation sentiment and whale sell-offs in the market, these factors did not prevent the occurrence of a short-term rebound.

The privacy blockchain project Midnight (NIGHT) based on zero-knowledge proofs has recently experienced a noticeable correction, sparking market discussions about whether the trend is reversing. According to the latest data, this correction appears more like a technical breather after a cooling of derivatives rather than a clear signal of an overall market weakening. In the past 24 hours, NIGHT's trading volume has dropped sharply by about 50%, down to $3.97 billion, reflecting short-term capital withdrawal. However, it is worth noting that this is more indicative of capital rotation rather than a collective exit by investors. On-chain data shows that the number of investors briefly fell to 6,110 on December 20 but quickly rebounded to 6,500, indicating that market participation remains resilient. During the same period, NIGHT's market capitalization increased by approximately $430 million, despite a short-term decline from its high to $1.52 billion, with no signs of structural collapse.

Over the past week, Ethereum (ETH) prices have generally remained sideways with fluctuations. On the surface, the market appears calm, but technical charts and on-chain data reveal clear signals of structural changes. Several indicators show that Ethereum is building a potential medium-term reversal pattern, while the selling pressure from long-term holders has significantly decreased. This combination is relatively rare in history. From a technical perspective, on the daily chart, Ethereum is forming a classic inverse head and shoulders pattern, which is one of the more reliable bullish reversal structures in the crypto market. The current neckline of the pattern is around $3,400 and appears relatively flat. Historical experience suggests that once a flat neckline is effectively broken, it is often accompanied by a stronger trend of upward movement. Based on this pattern, once ETH breaks above the neckline with increased volume, its theoretical target price could reach the $4,400 area.

Pudgy Penguins (PENGU) has recently continued to weaken, attracting widespread market attention. Data shows that over the past five months, the price of PENGU has fallen approximately 73.5%, making it one of the weakest-performing projects in the recent NFT and meme coin sectors. Meanwhile, the overall heat of the NFT market continues to cool down, exerting significant pressure on the Pudgy Penguins ecosystem. According to NFT Price Floor data, the monthly sales volume of Pudgy Penguins NFTs has decreased by 31.4% month-on-month, reflecting a clear contraction in market demand. As the native token of the Pudgy Penguins ecosystem, PENGU is categorized as a meme coin but still carries certain ecosystem and trading attributes. However, since August, its price has been declining steadily, from $0.032 to the current approximately $0.0086, and has yet to form an effective rebound.

Under the ongoing sanctions in the West, Russia is accelerating the adjustment of its cryptocurrency regulatory stance. The Central Bank of Russia recently formulated a new cryptocurrency regulatory blueprint, planning to cautiously open the domestic crypto asset market to retail and professional investors under certain conditions. This move is seen as an important signal that Russia is re-evaluating its digital asset strategy amid the sanctions environment. According to Bloomberg, citing sources from the Central Bank of Russia, the new framework will implement tiered management of investors. Non-qualified investors, after passing a basic knowledge exam, can purchase the most liquid cryptocurrencies in the market, but must operate through a single intermediary and are limited to an annual trading cap of 300,000 rubles, approximately $3,800. In contrast, qualified investors, after completing a risk awareness test, can trade most cryptocurrencies without limits, but anonymous tokens are still excluded.

Despite the US stock market hitting new highs repeatedly this year, Bitcoin (BTC) has significantly underperformed the stock market. However, on-chain data reveals an intriguing signal: in the context of sideways price movement and weak sentiment, Bitcoin whales are still continuously buying, making the market structure appear less pessimistic than it seems on the surface. First, a key change comes from exchange data. Recently, the monthly reserve changes of Bitcoin exchanges have turned negative, indicating that the amount of BTC withdrawn from exchanges exceeds the amount deposited. Typically, Bitcoin flowing out of exchanges is seen as a signal that investors are choosing to hold long-term rather than trade short-term. While this phenomenon can occur in both bull and bear markets, sustained outflows reduce immediate selling pressure and reinforce confidence in Bitcoin’s long-term value.

Gnosis Chain officially launched a hard fork recently, successfully recovering approximately $9.4 million that was frozen during a major security vulnerability in the Balancer protocol in early November. As a key infrastructure within the Balancer ecosystem, this move by Gnosis Chain quickly sparked widespread discussion in the crypto community, focusing on the trade-offs between fund security, on-chain governance, and the principle of blockchain "immutability." According to an official announcement, the hard fork was executed on December 22, and the related funds have been completely removed from the attacker's control and transferred to a recovery address managed by Gnosis DAO. Gnosis also urged all node operators to upgrade their clients as soon as possible to avoid penalties for not following the new chain.