Daily News | The Market Is Generally Bearish, and PHA Led the AI ​​Sector to Outshine Others

Crypto Daily Digest: The proportion of long-term ETH holders increases, and SUI is about to unlock more than $200 million in tokens

According to data from Farside Investors, the U.S. Bitcoin spot ETF saw a net outflow of $287 million last Friday. BlackRock IBIT had an inflow of $79.4 million, Fidelity FBTC had a net outflow of $208 million, and Ark ARKB had an outflow of $112 million.

The U.S. Ethereum spot ETF saw a net inflow of $47.7 million last Friday. BlackRock ETHA saw an inflow of $20.2 million, and Fidelity FETH saw an inflow of $27.5 million.

IntoTheBlock: The proportion of long-term holders of ETH has increased, while the proportion of long-term holders of BTC has decreased

IntoTheBlock disclosed the trend of the percentage of long-term holders of Bitcoin and Ethereum over the past year on the X platform, data shows that the proportion of long-term holders of Bitcoin is declining, while the proportion of long-term holders of Ethereum continues to rise and surpassed Bitcoin at the beginning of the year.

According to the current data of this indicator, the proportion of long-term holders of Bitcoin is 62.31%, and the proportion of long-term holders of Ethereum is 75.06%.

The current mainstream CEX and DEX funding rates show that the market is generally bearish

According to Coinglass data, as Bitcoin fell to $93,009 this morning, the current mainstream CEX and DEX funding rates show that the market is generally bearish. The specific funding rates for mainstream currencies are shown in the figure below.

Note: When the funding rate is 0.01%, it means that this is the market base rate. When the funding rate is greater than 0.01%, it means that the market is generally bullish. When the funding rate is less than 0.005%, it means that the market is generally bearish.

Overview of unlocking data this week: OP, SUI, ZETA and other tokens will be unlocked in large amounts

According to Token Unlocks data, OP, SUI, ZETA and other tokens will receive large amounts of unlocking this week, among which:

Optimism (OP) will unlock approximately 31.34 million tokens at 8:00 on December 31, Beijing time, with a ratio of 2.32% to the current circulating supply and a value of approximately $57.04 million;

Sui (SUI) will unlock approximately 64.19 million tokens at 8:00 on January 1, 2025, Beijing time, with a ratio of 2.19% to the current circulating supply and a value of approximately $263 million;

ZetaChain (ZETA) will unlock approximately 53.89 million tokens at 8:00 on January 1, 2025, Beijing time, with a ratio of 9.35% to the current circulating supply and a value of approximately $31.18 million;

Kaspa (KAS) will unlock approximately 182 million tokens at 8:00 on January 6, 2025, Beijing time, with a ratio of 0.72% to the current circulating supply and a value of approximately $21.31 million.

Market Trends: AGLD rose 40% within the day, and PHA rose more than 500% in the past 7 days

Market Hotspots

In the AI ​​sector, AI16Z, ARC, VIRTUAL, AIXBT, etc. have achieved good gains; AI16Z has launched a new white paper, and ai16z-related tokens are also a hot topic in the recent market; PHA continues to rise sharply, with an increase of more than 500% in the past seven days. Phala Network is a blockchain-based privacy computing platform that uses Trusted Execution Environment (TEE) technology to provide data privacy protection for decentralized applications;

AGLD surged 40% during the day. AGLD is the governance and gas token of the Adventure Layer platform. Adventure Layer is committed to creating exclusive Layer2 solutions for on-chain games (Fully Onchain Games, FOCG). AGLD originally originated from the Loot NFT project. With the expansion of the ecosystem, it has now developed into an ecosystem token that fully supports on-chain game development and has become a core component of Adventure Layer; AGLD currently has a circulating market cap of $200 million, ranking first in the entire market No. 309.

Mainstream Coins

BTC fluctuated and fell, falling below $93,000 this morning. Judging from the AHR999 indicator, the current BTC price is slightly higher than the fixed investment price. The fall is a good opportunity to buy;

The price of ETH has been relatively strong and remains above $3,400. The continued net inflow of ETH ETF in the past week has supported the price of ETH;

Altcoins generally fell, market hot spots rotated very quickly, and only the AI ​​sector has a long-term narrative.

Macro News: U.S. stocks closed down collectively, the Federal Reserve may slow down interest rate cuts in 2025

Last Friday, the three major U.S. stock indexes collectively closed down, with the S&P 500 index falling 1.11% to 5,970.84 points; the Dow Jones Index falling 0.77% to 42,992.21 points; and the Nasdaq Index falling 1.49% to 19,722.03 points. The benchmark 10-year U.S. Treasury yield is 4.62%, and the 2-year U.S. Treasury yield, which is most sensitive to the Fed’s policy rate, is 4.31%.

U.S. stocks tend to perform well in the last five trading days of December and the first two trading days of January. This phenomenon is known as the “Santa Claus market.” That rally has pushed the S&P 500 up an average of 1.3% since 1969, according to Stock Trader’s Almanac. How long the upward momentum lasts will depend on a variety of factors. U.S. monthly employment data, due to be released on January 10, 2025, should give investors a new perspective on the health and strength of the U.S. economy. U.S. job growth rebounded in November 2024 after setbacks caused by hurricanes and strikes earlier in 2024. In addition, the market’s strength will be tested again when U.S. companies announce new quarterly results.

According to market views, the Federal Reserve has hinted that it will slow down the pace of interest rate cuts in 2025. Judging from the current situation, the Fed is expected to continue to reduce borrowing costs until June 2025. If after Trump takes office, he initiates loose fiscal policies, relaxes controls, tightens immigration controls, and imposes comprehensive tariffs on major trading partners, rising inflationary pressure in the United States will force the Federal Reserve to change the direction of monetary policy.