Hot News

  • Bitcoin prices rose by about 5.14% in the first week of 2025. Although BlackRock experienced the largest single-day outflow in history at $333 million last Thursday, the Bitcoin ETF still recorded a net inflow of $245 million last week. In contrast, the Ethereum ETF performed more slowly at the beginning of the new year, with a net outflow of $38.2 million in the first week.
  • Although USDT’s market capitalization decreased by about 1%, or about $1.4 billion, last week, the total stablecoin market capitalization rose slightly by 0.39% during the same period, with USDC’s market capitalization increasing by about $2 billion last week.

Macro Outlook

  • The US ISM manufacturing PMI rose to 49.3 in December, higher than the market expectation of 48.4.
  • The market still estimates that the probability of keeping interest rates unchanged in January 2025 is 88.8%.

The upcoming economic calendar includes:

  • Tuesday, January 7 at 11:00 p.m.: U.S. December ISM Services PMI and November JOLTs job openings data
  • January 9 (Thursday) 3:00 AM: Federal Reserve December FOMC meeting minutes
  • January 10 (Friday) 9:30 p.m.: U.S. December non-farm payrolls and unemployment rate
  • January 10 (Friday) 11:00 PM: University of Michigan Consumer Sentiment Index preliminary value for January

Cryptocurrency Market Quick Facts

  • MicroStrategy purchased another 2,138 bitcoins at an average purchase price of $97,837. In addition, MicroStrategy announced plans to issue $2 billion in perpetual preferred stock, which has the right to be converted into Class A common stock, cash dividends and share redemption terms.
  • The Swiss Federal Chancellery has proposed requiring the Swiss National Bank to hold Bitcoin as part of its reserve assets. The proposal has 18 months to collect 100,000 signatures to be submitted to a referendum.

Layer 1 and Layer 2 Public Chains

  • Solayer, a re-staking protocol based on Solana, announced that it will launch its governance token LAYER.
  • The TON Foundation, in collaboration with Jupiter, will incubate a new liquidity aggregator on the TON network.

Dapps

  • Hyperliquid launched the HYPE staking function on the mainnet, with an average annual APR of 2.26%.
  • Pendle launched the VIRTUAL/cbBTC Aerodrome LP vault on Base, offering a fixed return of approximately 36.8%.
  • Frax Finance has passed a proposal to include the Superstate’s tokenized treasury USTB as one of the reserve assets of frxUSD.
  • Akash Network launches DeepSeek-V3 on AkashChat, an open source AI model with performance comparable to GPT-4o and 3.5 Sonnet.
  • GMX is reducing trading fees across its entire platform by 2 basis points.
  • f(x) Protocol launches its v2.0 version, providing fixed and stress-free ETH leverage exposure without paying funding fees or facing liquidation risk.
  • RateX, the yield trading protocol on Solana, has launched the LRT, lrtsSOL vault powered by Adrasteal Finance, where users can earn a fixed annualized APY of 53.8%.

Governance/Project Updates

  • Usual Protocol expects to launch the fee mechanism on January 7.
  • Sonic, Solana's Layer 2 protocol, announced the SONIC token economic model, with 57% allocated to the community and an initial circulation of 15% expected on January 7. The team and investors' allocations will be locked in the first 12 months, and locked tokens cannot be staked. SONIC is the gas and staking token of the network.
  • As the first AI project on Avalanche, AvalancheAI is committed to establishing an AI Agent creation and market trading platform, which is expected to be launched in January.
  • Thorchain is expected to launch Base in January to realize cross-chain transaction functions.
  • Ethena and AAVE announced that they will soon launch a collaboration called Aavethena, but the specific details have not yet been disclosed.
  • Ethena has released a roadmap for 2025, planning to launch iUSDe (institutional neutral strategy stablecoin) and sUSDe payment Telegram application, and focusing on the development of ecological protocols such as Ethereal and Derive.

Token Unlock

  • JTO tokens were unlocked on January 7th and account for 4.15% of the token supply.
  • MOVE tokens were unlocked on January 9th and represent 2.24% of the token supply.
  • IO tokens were unlocked on January 11th and account for 2.76% of the token supply.
  • APT tokens were unlocked on January 12th and accounted for 2.03% of the token supply.
  • STRK tokens were unlocked on January 12th and represent 2.82% of the token supply.
  • ARB tokens were unlocked on January 16th, accounting for 2.2% of the token supply.
  • VANA tokens were unlocked on January 16th and represent 1.46% of the token supply.
  • APE tokens were unlocked on January 17th and account for 2.12% of the token supply.
  • MERL tokens were unlocked on January 19th and represent 5.8% of the token supply.