Today's news tips:
1. Telegram founder Pavel Durov has appeared in a Paris court and said he "trusts the French judicial system"
2. David Sacks forwarded his ten views on Bitcoin: Buy Bitcoin in 2013; PayPal is realizing its original vision of creating a new world currency
3. Vitalik Buterin: I cannot accept Ethereum giving up verifiability
4. All $2.42 million of BABYDOGE tokens unlocked about 10 hours ago were recharged to Binance
5. The top ten Bitcoin holders control nearly 15% of the circulating supply
6. This week’s NFT transaction volume reached US$196.2 million, an increase of 34.23% from last week
7. Justin Sun transferred 29,920 ETH to HTX about 9 hours ago, worth about $119.7 million
8. Pudgy Penguins CEO: There is no snapshot of PENGU tokens
Regulatory News
According to Cointelegraph, Telegram founder Pavel Durov appeared in a Paris court at 10 a.m. Central European Time on December 6. He was accompanied by his lawyers David-Olivier Kaminski and Christophe Ingrain. It is reported that the focus of the court's questioning was on allegations that Telegram may have been used for illegal transactions. Pavel Durov said he trusted the French judicial system but refused to elaborate on the case.
This week's much-anticipated U.S. nonfarm payrolls data for November was better than expected, but not yet hot enough to prevent the Federal Reserve from cutting interest rates again later this month. The market has pushed up the probability of a 25 basis point rate cut in December to around 90%. At the same time, more and more Fed officials are inclined to be cautious in cutting interest rates. The U.S. inflation data in the coming week is the only important data that may shake the Fed's expectations of a rate cut in December. After the data showed that the U.S. labor market remained strong but also showed signs of slowing down, Fed officials seemed likely to cut interest rates this month, but the debate about a possible pause in rate cuts next year has been put on the table. Policymakers who spoke before the Fed's silent period generally said that they expect interest rates to continue to fall, while being cautious about the pace of rate cuts. The following are the key points that the market will focus on in the new week:
- 9:30 on Monday, China's November CPI annual rate;
- At 23:00 on Monday, the monthly rate of wholesale sales in the United States in October;
- Tuesday 0:00, US New York Fed 1-year inflation expectations for November;
- At 21:30 on Wednesday, US November CPI and core CPI;
- At 21:30 on Thursday, the number of initial jobless claims in the United States for the week ending December 7; the annual and monthly PPI rates in the United States in November;
- At 1:00 a.m. on Friday, the Federal Reserve will release account fund flows for the third quarter of 2024;
- At 21:30 on Friday, the US import price index monthly rate for November will be released.
Trump's second son will speak at Bitcoin MENA Summit in Abu Dhabi
According to Bitcoin News, Trump’s second son Eric Trump will deliver a speech at the Bitcoin MENA Summit in Abu Dhabi from December 9 to 10.
Trump’s appointed crypto chief David Sacks retweeted his ten quotes about Bitcoin, which are as follows:
- Buy Bitcoin in 2013;
- Understand the importance of Bitcoin as a decentralized currency and its role as a hedge against the devaluation of fiat currencies;
- Satoshi Nakamoto should become a billionaire and appreciate the profoundness of Satoshi Nakamoto’s invention;
- There’s a feature-length fictional movie being made about Satoshi Nakamoto that’s like watching The Social Network but without knowing who Mark Zuckerberg’s character actually is;
- Understand Bitcoin’s utility as a highly portable and non-confiscable store of value;
- Bitcoin has the potential to separate money and state;
- Not a Bitcoin maximalist;
- Through its venture capital firm Craft Ventures, it has invested in companies such as Lightning Labs, Fold, Bitwise, and Bitgo;
- After using PayPal, I never thought I would be interested in payments again. But then Bitcoin came along, and “Bitcoin is fulfilling PayPal’s original vision of creating a new world currency”;
- Understand that Bitcoin is an invention of digital scarcity.
Project News
Vitalik Buterin: Ethereum abandons verifiability
Nick White, co-founder of Celestia, wrote on the X platform that the core of blockchain is verifiability, and the purpose is to get rid of committees and intermediaries. A more decentralized committee is still a committee. In response, Vitalik Buterin, co-founder of Ethereum, said: If Ethereum abandons verifiability and accepts committees and centralized intermediaries as the solution to everything, I will think it is no longer Ethereum. In addition to verifiability, I will also add highly democratic participation.
Latest Ethereum ACDE meeting: agreed to include EIP 7623 in Pectra upgrade
Christine Kim, vice president of research at Galaxy, summarized the 201st Ethereum Core Developers Executive (ACDE) call, in which developers agreed to include EIP 7623 (increase call data costs) in the Pectra upgrade. They also agreed to exclude EIP 7762 from the upgrade. This was a controversial decision that several people on the call did not support, so this may be a topic revisited in the next ACD call. Developers discussed coordinating the rollout of EIP 7639 (stop providing history before the Paris upgrade) and EIP 4803 (limit transaction gas to a reasonable maximum) in Pectra.
Pudgy Penguins CEO: There is no snapshot of PENGU tokens
Luca Netz, CEO of Pudgy Penguins, posted on the X platform that in order to let the Pudgy Penguins community have a clearer understanding of the PENGU token situation, he reminded that there is no snapshot of the PENGU token. Once the token is launched, it will be allocated to the relevant NFT, and there will be 88 days to apply for the token.
Sky Protocol will increase the savings rate DSR, SSR and stability fees of various vault types
Sky Protocol (formerly MakerDAO) said on the X platform that the following parameter changes will be executed at 5:24 (UTC+8) on December 9 after the latest executive vote was approved.
Savings Rate Update:
- The Sky Savings Rate (SSR) will increase to 12.5%, and the Dai Savings Rate (DSR) will increase to 11.5%.
Stability fee parameter update:
- ETH stability fees will increase: ETH-A to 12.75%, ETH-B to 13.25%, and ETH-C to 12.5%.
- The WSTETH stability fee will increase: WSTETH-A will increase to 13.75%, and WSTETH-B will increase to 13.5%.
- The WBTC stability fee will increase: WBTC-A will increase to 16.25%, WBTC-B will increase to 16.75%, and WBTC-C will increase to 16%.
According to monitoring by ai_9684xtpa, BABYDOGE surged 60% after Musk’s “order call” yesterday. According to CMC data, BABYDOGE is still in a “not fully circulated” state, with a circulation ratio of 79.33%.
10 hours ago, the lock contract UNCX Network unlocked $2.42 million worth of BABYDOGE to the multi-signature address 0xB2E...9a0F3, all of which have been recharged to Binance. Since November, a total of $12.02 million worth of BABYDOGE has been unlocked, all of which have flowed to CEX after unlocking; currently, there are 9.55% of the total tokens in the contract to be unlocked.
EtherRock #19 sold for 235 ETH
On-chain data shows that EtherRock #19 was traded for 235 ETH about 13 hours ago, worth about $930,000. EtherRock is a set of "stone"-themed NFT collections launched in December 2017, limited to 100 pieces.
Important data
Data: US Bitcoin spot ETF holds more than 1.108 million BTC
According to HODL15Capital monitoring statistics, as of December 6, the US Bitcoin spot ETF held a total of 1,108,419 BTC, with an AUM of more than US$111 billion.
The top ten Bitcoin holders control nearly 15% of the circulating supply
According to Timechainindex.com, the top ten entities holding Bitcoin and their holdings are as follows – excluding unused block rewards from the early years (2009 (including Satoshi’s holdings), 2010, 2011, 2012 and beyond).
Coinbase is the largest single holder of Bitcoin, holding 1,123,520.49 BTC, worth more than $112 billion. In second place is Binance, holding 686,997.40 BTC, worth $68.9 billion. BlackRock ranks third with 520,861 BTC, worth $52.2 billion. In fourth place is publicly traded company Microstrategy, holding 402,099.99 BTC, worth $40.3 billion. Close behind is centralized cryptocurrency exchange Bitfinex, which ranks fifth with 350,262.05 BTC, worth about $35.04 billion. These five companies control 1,960,220.44 BTC, worth $196.59 billion, and together account for about 9.9% of the entire circulating Bitcoin supply.
Grayscale is in sixth place, with on-chain holdings of 211,799.39 BTC, worth about $21.19 billion. Fidelity follows in seventh place, managing 201,043.88 BTC, worth about $20.11 billion. In eighth place is the U.S. government, which has accumulated 199,172.73 BTC, worth $19.92 billion, through asset seizures. If the government keeps these bitcoins, it may continue to be one of the top ten Bitcoin holders in the world (excluding unspent Coinbase rewards and Satoshi Nakamoto's holdings). Next is the mysterious figure labeled "Individual X" by timechainindex.com. This mysterious entity holds 180,701.87 bitcoins, which may be worth a little over $18 billion. In tenth place is the centralized cryptocurrency exchange Kraken, with on-chain holdings of 179,409.90 BTC, worth $17.94 billion. The sixth to tenth largest Bitcoin holders hold a total of 972,127.77 BTC, worth $97.4 billion.
The top ten entities control 2,932,348.21 BTC, valued at $294 billion. Together, these ten entities hold approximately 14.82% of the total Bitcoin supply.
Justin Sun transferred 29,920 ETH to HTX about 9 hours ago, worth about $119.7 million
According to Spot On Chain monitoring, 9 hours ago, after the ETH price broke through $4,000, Justin Sun further deposited 29,920 ETH ($119.7 million) into HTX. This batch of ETH is part of the 392,474 ETH he bought cumulatively from February to August this year, with an average purchase price of $3,027 and a total investment of approximately $1.19 billion. At present, his estimated total profit from this investment is $366 million (+30%) (excluding staking rewards and airdrops).
It is worth noting that Justin Sun also deposited 322,119 EIGEN (US$1.44 million) and 175,021 ETHFI (US$516,000) into HTX 9 hours ago. Both amounts were staking rewards obtained from ETH positions.
This week’s NFT transaction volume reached US$196.2 million, an increase of 34.23% from last week
CryptoSlam data shows that the NFT market has seen a sharp rise this week, with total trading volume reaching $196.2 million. This is a 34.23% increase from last week's $146.5 million. The number of NFT buyers increased to 693,833, a growth rate of 20.29%; the number of NFT sellers increased to 402,069, an increase of 15.97%.
The Ethereum NFT blockchain performed best, with sales nearly doubling to $100.9 million. This marks a 97.33% increase over the past seven days. The network attracted 61,020 buyers, an increase of 23.15%. Although the Bitcoin NFT ecosystem maintained its second position, it declined slightly, falling by 6.84%. The Bitcoin network had sales of $45.1 million. However, the network continued to show strong user engagement with a total of 67,188 buyers, an increase of 22.38% over the previous week.
According to @ai_9684xtpa, the winning rate of PEPE is 100%. The whale deposited 6.17 million USD of PEPE and 2 million USD of SHIB into Binance 10 hours ago, and withdrew 109.7 billion PEPE six hours ago. If the remaining part has been sold, the expected profit is 1.71 million USD. His PEPE cost is 0.00001331 USD, and SHIB cost is 0.00002343 USD.
A whale withdrew $9.63 million of LINK from Binance at an average price of $24.68 nine hours ago
According to @ai_9684xtpa monitoring, the address 0x924...a2BB0 withdrew LINK worth $9.63 million from Binance at an average price of $24.68 nine hours ago; this was the first time the address had built a LINK position, and its asset size reached $30.98 million.
