TL;DR

• BTC price fell by 1.35%, failing to break the downtrend. Although a double-bottom pattern has formed, the support level is still facing a test.
• ETH price dropped by 2.36%, with no signs of a breakout yet, and the market remains cautious.
• Crypto venture capital in 2024 is estimated to reach $13.7 billion, a 28% year-on-year increase.
• DEX trading volume reached a new all-time high, showcasing strong vitality in the decentralized ecosystem.
• The estimated storage value of Bitcoin is $1.03 trillion, with an 85% increase this year.
• Hyper has launched the staking function for its $HYPER mainnet.

Market Analysis

According to Gate.io market data, as of December 31st, 2:00 AM (UTC+0)[1]:

• BTC — Over the past 24 hours, BTC price dropped approximately 1.35%, reaching a low of $91,543.9. The recent trend shows a clear downtrend. On the evening of December 30th, the price briefly dipped to the lowest point of the day before rebounding above $94,800, but it failed to break the downtrend and subsequently fell again, forming a double-bottom pattern. As of December 31st, 2:00 AM (UTC+0), BTC is priced at $92,476.6. Trading volume has decreased in the short term, and the price has found temporary support near $91,550. However, this support level is still under testing and is at risk of breaking. From a technical perspective, the MACD indicator remains below the signal line, showing no clear signs of a rebound, and the market overall is still in a phase of consolidation and volatility.[2]

• ETH — In the past 24 hours, the ETH price showed a similar fluctuating trend to BTC, reaching a recent high of $3,446.16 and a low of $3,304.29. It is currently trading at $3,344.7, down approximately 2.36% in the past 24 hours. The recent ETH price has maintained a range-bound consolidation, mainly fluctuating between the resistance level of $3,430 and the support level of $3,300, with no signs of a breakout yet. Trading volume has decreased compared to previous periods, and the market performance is relatively cautious. From a technical perspective, the negative value of the MACD indicator momentum column is gradually shortening, but it is still below the signal line, and no obvious rebound signal has appeared. Compared to BTC, the ETH price exhibits less volatility, and the support level is still valid, with the overall trend being relatively stable. [3]

• ETF — According to SoSoValue data, on December 30, the total net outflow of US Bitcoin spot ETFs was $426 million, and the total net outflow of US Ethereum spot ETFs was $55.41 million. [4]
• Altcoins — The AI Meme, Pump.fun Ecosystem, and Solana Meme sectors saw changes of +14.0%, +12.3%, and +5.7%, respectively. [5]
• U.S. Stock Market Indices — The S&P 500 Index fell by 1.07%, the Dow Jones Index fell by 0.97%, and the Nasdaq Index fell by 1.29%. [6]
• Spot Gold — The spot gold price reached $2,607.81/ounce, with a daily increase of 0.03%. [7]
• Fear and Greed Index — The Fear & Greed Index remained at 65, indicating that the market is in a state of greed, with a certain degree of stability. [8]

Top Performers

According to Gate.io market data [9], based on the trading volume and price performance in the past 24 hours, the top-performing altcoins are as follows:

ELIZASOL (Elizawakesup) — A single-day increase of approximately 58.60%, with a circulating market cap of $139 million.
Elizawakesup is a feature-rich AI agent framework that can help developers quickly build various AI applications, especially suitable for scenarios that require deploying AI assistants on social platforms or handling complex business processes. [10]

The main driving forces behind ELIZASOL’s recent rise include the continued activity of GitHub developers and the Discord community, steady project progress, and increased exposure brought by the cooperation of its parent framework with multiple projects. These factors have brought significant traffic growth to ELIZASOL. At the same time, the strong performance of the AI16Z track has further attracted the attention of more investors.

BULLY (Dolos The Bully) — A single-day increase of approximately 42.58%, with a circulating market cap of $50 million.
Dolos is an advanced AI language model based on the Llama 3.1 architecture, finely tuned to capture the essence of mischief, cunning, and digital chaos. Inspired by Greek mythology and the ever-changing world of CT(Cryoto Twitter), Dolos is transformed into the god of trickery, featuring a sharp, witty, and often outspoken interactive style. [11]

The main reasons for BULLY’s recent rise can be attributed to Dolos’s success on X and Tiktok, its launch of new expansion programs for Instagram and LinkedIn, and the recent strong performance of the AI Agent narrative.

AI16Z (Adventure Gold) — A single-day increase of approximately 37.78%, with a circulating market cap of $1.68 billion.
ai16z simulates Marc Andreessen’s venture capital role, making investment decisions through AI and community interaction. It operates an autonomously operated wallet. Developers also created a pure chatbot degenai as an auxiliary chatbot to provide suggestions, responsible for providing investment advice to Marc in ai16z’s Telegram and Discord groups. Users holding more than 100 ai16z tokens can join these groups to interact with Marc and recommend investment projects. [12]

The reason for the surge in the price of AI16Z tokens may be attributed to its launch of the V2 event, which will focus on overall agent performance, plugin management, code stability, and readability. At the same time, AI16Z has recently cooperated with project parties such as TEE. Several project parties used the core of the ElizaOS framework invested by AI16Z, which made more investors aware of AI16Z after exposure.

Data Highlights

Crypto Venture Capital In 2024 Is Approximately $13.7 Billion, a YOY Increase of 28%.
Cryptocurrency venture capital in 2024 is approximately $13.7 billion, a 28% increase compared to $10.7 billion in 2023, but still lower than the $33.3 billion in 2022 and $29 billion in 2021. Among them, infrastructure led the way, with approximately $5.5 billion invested in more than 610 transactions, a year-on-year increase of 57%; NFT and gaming startups raised a total of $2.5 billion, slightly higher than the $2.2 billion in 2023. [13]

According to the data, the cryptocurrency market is currently in a recovery phase. The overall recent data is still not as good as in 2022 and 2021, but the investment data in the infrastructure sector still shows considerable optimistic growth, which indicates that more and more investors are focusing on the infrastructure track. This may indicate that the cryptocurrency market is gradually recovering and new growth points are emerging.

beraSTONE Becomes the Largest Liquidity Pool on Uniswap V3
The omnichain liquidity infrastructure StakeStone previously released the StakeStone Berachain Vault, and its LP Token beraSTONE’s beraSTONE/ETH liquidity pool on Uniswap V3 has become the largest liquidity pool on Uniswap V3, currently reaching $188 million. [14]

The StakeStone Berachain Vault project has received widespread market recognition and active participation in the decentralized finance (DeFi) field. The significant growth of its liquidity pool not only reflects users’ trust and interest in the project, but also highlights its potential and influence in the current DeFi market.

DEX Trading Volume Reaches New Historical High, Decentralized Ecosystem Shows Strong Vitality
In December, the trading volume of decentralized exchanges (DEX) exceeded $300 billion for the first time, reaching $320.5 billion, a new historical high. Among them, Uniswap led with a trading volume of $103 billion, followed by PancakeSwap and Raydium with $72 billion and $54.6 billion, respectively. Behind this growth is increased market volatility and continued improvement in trust in the DeFi ecosystem. In addition, the rise of AI-related tokens shows that high market value projects are no longer completely dependent on the listing support of centralized exchanges. This trend highlights the advantages of DEX in terms of diversity, liquidity, and innovation, especially in attracting emerging assets and meeting rapidly growing trading demands.

Unlike traditional financial markets, the booming development of DEX demonstrates the huge potential of decentralized trading driven by technology. As more users trust the DeFi ecosystem and join trading, DEX has not only become the preferred platform for innovative assets, but also provided a solid foundation for the long-term application of decentralized technology in the financial industry, driving the crypto market towards a more decentralized and diversified future. This increase in trading volume marks the continued maturation of DeFi and also provides a solid foundation for the long-term application of decentralized technology in the financial industry. [15]

Spotlight Analysis

Bitcoin’s Store of Value Estimated at $1.03 Trillion, Up About 85% This Year
CryptoQuant CEO Ki Young Ju posted that Bitcoin’s SoV (Store of Value) is estimated at $1.03 trillion, up about 85% this year. The calculation incorporates: (Off-chain) Exchange trading: Exchange reserves multiplied by VWAP can estimate the funds entering the market through exchanges; (On-chain) Over-the-counter transactions and exchange deposits/withdrawals: Bitcoin’s execution and settlement are carried out simultaneously. Capital inflows from over-the-counter transactions or on-chain exchange activities can be estimated by the realized cap, which tracks the cost basis of actual changes. [16]

This growth reflects the increasing attractiveness of Bitcoin as digital gold and a safe-haven asset, and also indicates that market demand for and confidence in Bitcoin are rising. The calculation method provided by CryptoQuant CEO Ki Young Ju combines exchange trading data and on-chain activity, showing the amount of funds entering the market through different channels, thereby providing a comprehensive perspective for estimating Bitcoin’s market value.

Flock.io Releases FLOCK Tokenomics, 50 Million Tokens to Be Airdropped to Early Users and Community
Decentralized AI model training platform Flock.io has released FLOCK token economics. The total supply of FLOCK tokens is capped at 1 billion, with an initial circulating supply of 12.8%. [17]

Flock.io is committed to decentralized training and value coordination, ensuring that AI goals are in line with the public’s ethical and social goals, with decision-making power in the hands of the community. At the same time, practicality is a top priority. Flock.io breaks down the barriers that hinder participation in the ecosystem, allowing developers to provide models, data, or computing results in a modular way. AI models suitable for various purposes are created by the community, for the community, and under community management. Flock.io leverages blockchain technology and artificial intelligence to provide a powerful environment for processing large datasets.

Hyper Launched $HYPER Mainnet Staking
The decentralized derivatives protocol Hyperliquid Foundation announced that it has opened HYPER staking. Users can stake HYPE to trusted validators and receive staking rewards in HYPE. The Hyper Foundation will have a delegation program to support high-performing validators and further decentralize the network. [18]

Like other proof-of-stake networks, new blocks on Hyperliquid are proposed by validators in proportion to the amount of HYPE staked. Staking is an important responsibility of the Hyperliquid community. Users can stake HYPE to trusted validators and earn HYPE staking rewards. Users may consider different metrics when choosing which validators to stake to, such as uptime, commission, reputation, and community contributions. The Hyper Foundation will launch a delegation program to support high-performance validators and further decentralize the network. More information about this program will be announced separately. Please note that locked tokens may be staked, but their rewards will be locked.

Funding News

According to RootData data, on December 30, a total of 2 projects announced funding, with a total funding amount of over $2.3 million. The highest single funding amount reached $2.3 million, involving fields such as Privacy and Layer 2. The following are the specific funding details: [19]

Accountable — Privacy project Accountable completed a $2.3 million seed round of financing. This round was led by Zee Prime Capital and MitonC, with other investors including Dcbuilder and angel investors such as Darius Rugys. Accountable is building a privacy-focused data platform that provides real-time verification of borrowers’ assets, liabilities, and transaction risks. Users connect their custody accounts, exchange accounts, and other related accounts to a dashboard that generates credit risk reports for self-determination to share with lenders.

DataDance — DataDance completed a multi-million dollar seed round of financing, with the actual amount not disclosed. This round was led by Hash Capital. DataDance is an Ethereum-based Layer 2 network focused on protecting user privacy in the age of AI while enabling smooth and secure transactions of user assets. By leveraging advanced encryption technology and privacy protection mechanisms, DataDance ensures the confidentiality of user data and transaction information.

Airdrop Opportunities

Humanity Protocol — Humanity Protocol can provide developers with a unique human identity verification mechanism and provide users with complete ownership of data and identity. The protocol uses palm recognition technology as a less invasive identity verification alternative to methods such as iris scanning, and can be easily accessed via smartphones to establish proof of personhood in Web3 applications. [20]

The $RWT token gives real-world weight to every action in the Humanity Protocol network. The RWT token is designed to recognize users’ continuous contributions and provide a bridge for users from early participation in the testnet to playing a more important role in the mainnet.

How to participate:

• Open the Humanity Protocol official website.
• Account registration.
• Join Discord.
• Daily check-in on the official website and Discord.

Note:
The airdrop plan and participation methods may be updated at any time. It is recommended that users pay attention to the official channels of Humanity Protocol for the latest information. At the same time, users should participate cautiously, pay attention to risks, and do sufficient research before participating. Gate.io does not guarantee the subsequent distribution of airdrop rewards.


References:

1. Gate.io, https://www.gate.io/zh/price
2. Gate.io, https://www.gate.io/trade/BTC_USDT
3. Gate.io, https://www.gate.io/trade/ETH_USDT
4. SoSoValue, https://sosovalue.xyz/assets/etf/us-eth-spot
5. CoinGecko, https://www.coingecko.com/en/categories
6. Investing, https://investing.com/indices/usa-indices
7. Investing, https://investing.com/currencies/xau-usd
8. Gate.io, https://www.gate.io/bigdata/homeindex
9. Gate.io, https://www.gate.io/price
10. Elizawakeup，https://elizawakesup.ai/
11. X，https://x.com/dolos_diary
12. X，https://x.com/ai16zdao
13. The Block，https://www.theblock.co/post/332539/the-funding-crypto-vc-recap-2024
14. X, https://x.com/Stake_Stone/status/1873647023397958031
15. The Block，https://www.theblock.co/post/332557/monthly-dex-volume-hits-all-time-high-in-december
16. X，https://x.com/ki_young_ju/status/1873610069444813072
17. X，https://x.com/flock_io/status/1873318086142837237
18. X，https://x.com/HyperFND/status/1873664112036901320
19. Rootdata, https://www.rootdata.com/Fundraising
20. HumanityI Protocol，https://www.humanity.org

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