Today's top news highlights: Banmu Xia: This week's Fed rate cut will normalize liquidity, and the market will see a broad-based rally this week and even this month. Analysis: Bitcoin has stabilized in the short term, but sentiment remains cautious ahead of the FOMC meeting. Farcaster announces strategic shift: from a social-first approach to wallet-driven growth. HumidiFi: New token public sale will begin on December 8th at 23:00. The XRP spot ETF saw net inflows of $231 million last week, marking the fourth consecutive week of net inflows. Metaplanet has not increased its Bitcoin holdings since September 30. Bloomberg: The median share price of DAT companies listed in the US and Canada has fallen 43% this year. Pop Mart shares closed down 8.49%, amid market concerns about slowing overseas sales. Macro Pop Mart shares closed down 8.49%, amid market concerns about slowing overseas sales. Pop Mart (09992.HK) shares continued their downward trend, closing down 8.49% at HK$200.4, after falling as low as HK$199 during the session, marking its biggest drop in six weeks. Market concerns intensified regarding its overseas sales performance, particularly the possibility that sales figures during the US "Black Friday" period might fall short of expectations. Data shows that since December 2nd, short selling of the company has surged from HK$241 million to HK$623 million, indicating a significant increase in bearish sentiment. Previously, Deutsche Bank warned that the Labubu series' premium in the secondary market had significantly declined due to a substantial increase in production capacity, and gave it a "hold" rating. Morgan Stanley predicted significant sales growth for the Labubu series in 2024, but the growth rate would slow down in 2025, and lowered its target price to HK$325. Despite Pop Mart's third-quarter revenue increasing by 245%-250% year-on-year, with overseas markets growing by 365%-370%, the stock price failed to stop falling. Analysts believe that the company's future growth momentum is questionable during its transition from "explosive growth" to "sustainable growth," which may limit the upside potential of the stock price. Argentina may allow banks to offer cryptocurrency trading services. PANews reported on December 8th, citing FinanceFeeds, that the Central Bank of Argentina (BCRA) is considering lifting the long-standing ban on traditional financial institutions offering cryptocurrency trading and custody services. This policy shift, moving from an explicit ban to regulated integration, is primarily driven by Argentina's unique economic environment and surging demand for digital assets. Current regulations prohibit banks from participating in crypto trading, aiming to reduce risk and curb the use by unregulated entities. However, the government of President Javier Milei, which supports market-oriented and crypto-friendly policies, is evaluating a new regulatory framework to allow banks to enter the market under strict rules. This move aims to bring the massive crypto trading activity into the formal banking system, thereby providing a safer, more compliant channel, enhancing investor protection, and strengthening KYC and anti-money laundering (AML) controls. Furthermore, this will allow the government to more effectively track and tax crypto assets while acknowledging their important role as an inflation hedge. The U.S. SEC's Cryptocurrency Working Group will hold a roundtable meeting on financial regulation and privacy on December 15. PANews reported on December 8th that, according to official sources, the U.S. Securities and Exchange Commission (SEC) Cryptocurrency Working Group announced it will hold a public roundtable discussion on financial regulation and privacy at SEC headquarters on December 15th (local time) to delve into related policy issues. The meeting will be streamed live online. The BRICS nations launched "Unit," a digital currency backed by gold. PANews reported on December 8th, citing the Institute of Economic Strategy of the Russian Academy of Sciences (IRIAS), that the BRICS countries have launched a working prototype of a gold-backed trade currency called "Unit." This is a digital trading instrument backed by a reserve basket containing 40% physical gold and 60% BRICS currencies, with the Brazilian Real, Chinese Yuan, Indian Rupee, Russian Ruble, and South African Rand having equal weights. The pilot project was initiated by IRIAS, which issued 100 Units on October 31st, each initially pegged to 1 gram of gold. Opinion Analysts: Bitcoin bulls must hold the key Fibonacci support level to prevent the price from falling to $76,000. PANews reported on December 8th that, according to Cointelegraph, crypto analyst Daan Crypto Trades pointed out that Bitcoin is currently hovering near a key technical price level. This level, as a 0.382 Fibonacci retracement range, is a key support and resistance level in the market cycle. It must hold effectively to avoid significant losses. A break below this level could see Bitcoin's price fall to around $76,000, the low point in April. Testing this low would break the existing market structure in the long-term timeframe. On Sunday evening, the Bitcoin market experienced a sharp short-term liquidation, with both long and short leveraged positions being closed. The price briefly fell below $88,000 before quickly rebounding above $91,500. This is undoubtedly an example of a low-liquidity market being manipulated over the weekend to simultaneously clear long and short leveraged positions. Banmu Xia: This week's Fed rate cut will normalize liquidity, and the market will see a broad-based rally this week and even this month. PANews reported on December 8th that Chinese crypto analyst Banmuxia wrote, "This week's Fed rate cut and renewed balance sheet expansion will normalize tight liquidity, making this week a week of broad-based gains (US stocks, crypto, precious metals, etc.), and even the following month could be a month of broad-based gains." Banmuxia also cited his article published on November 11th, which stated, "Starting in December, the Fed will stop shrinking its balance sheet and may begin expanding it, at which point liquidity will return to normal, similar to October 2019. The real massive easing will have to wait until May next year, after Trump takes control of the Fed, similar to March 2020." Analysis: Bitcoin has stabilized in the short term, but sentiment remains cautious ahead of the FOMC meeting. PANews reported on December 8th that Matrixport's chart today indicates that with the FOMC meeting on December 10th approaching, market sentiment is highly focused on related policy signals. While Bitcoin prices have stabilized somewhat, it's difficult to consider this a new round of upward movement. Option pricing still implies approximately 5% downside, with funds still hedging against pullback risks. Given the general trend of deleveraging and position reduction at the end of the year, short-term rebounds are more likely to be used as a window for reducing positions rather than a new signal to add to them. Seasonally, market liquidity tends to be tight around Christmas, making it difficult to sustain upward trends. The current key level is roughly around $91,500. Statistically, the baseline scenario remains continued volatility convergence, and the possibility of a strong breakout immediately after the FOMC meeting is relatively limited. Grayscale: Bittensor's halving next week is expected to push up the price of TAO tokens. PANews reported on December 8th, citing The Block, that Grayscale Research analyst Will Ogden Moore stated, "Bitcoin's history shows that even with reduced rewards, decreasing supply can boost network value, as Bitcoin's network security and market value have been strengthened through four consecutive halvings. Similarly, Bittensor's first halving marks a significant milestone in the network's maturation as it moves towards its 21 million token supply cap." Moore noted that Bittensor is currently experiencing strong adoption momentum, with institutional interest steadily increasing. Moore pointed out that the launch of dTAO in February was a major achievement for Bittensor. This mechanism allows direct investment in subnets, leading to a significant expansion of the total market capitalization of these subnets. Moore wrote, "We believe that the early success of certain subnet-based applications, the increase in institutional capital within the Bittensor ecosystem, and the upcoming TAO supply halving could all be positive catalysts driving price increases." Previously, it was reported that Bittensor will undergo its first halving on December 14th, at which time the daily issuance of TAO will decrease to 3,600 tokens. Project Updates Binance Alpha will list Midnight (NIGHT) on December 9th. PANews reported on December 8th that Binance Alpha will launch its Midnight (NIGHT) event on December 9th. Qualified users can claim an airdrop using their Binance Alpha points on the Alpha event page after trading opens. XMAQUINA has approved a proposal to conduct a $DEUS TGE, with 110 million DEUS to be used for the final pre-sale. PANews reported on December 8th that, according to official news from Web3 robotics company XMAQUINA, proposal XMQ-02 has been officially passed, receiving over 19 million votes in support, representing a support rate of over 96%. The proposal aims to allocate 128,067,280 DEUS (approximately 12.8% of the total supply) and $150,000 USDC to the DEUS Token Generation Event (TGE) for key initiatives such as community pre-sales, liquidity support, and ecosystem development. The main allocation plan includes: Community Pre-sale: Allocating 110 million DEUS (11% of the total supply) for the final round of the community pre-sale to raise funds to expand the DAO's equity investment in a leading humanoid robotics company. Liquidity and Ecosystem Growth: Allocating 18,067,280 DEUS (1.8% of the total supply) and $150,000 USDC for exchange listing fees, liquidity support, and DAO infrastructure development. Token Transferability: The transferability of DEUS tokens will be activated from January 1st to February 15th, 2026, paving the way for exchange listing and market access. Related Reading: When Robots Learn to Think, Earn Money, and Collaborate: Analyzing 15 Types of Robotics Technologies and Applications. Farcaster announces strategic shift: from a social-first approach to wallet-driven growth. PANews reported on December 8th that Farcaster co-founder Dan Romero announced on social media that the project focuses on creating a wallet to attract more users. After a four-and-a-half-year trial of a social-first strategy that failed, and with the wallet business consistently growing, they decided to increase investment in this area. This means new features and product positioning will be centered around the wallet. Romero emphasized, "We have transformed; the product now focuses on wallet users. And the most important function of our wallet is trading. That's the core. People are free to use the product without using the wallet. But we focus on the wallet/trading." HumidiFi: New token public sale will begin on December 8th at 23:00. PANews reported on December 8th that HumidiFi announced on its X platform that its new token public sale will begin at 10:00 AM Eastern Time the following day, which is 14 hours later. This translates to 11:00 PM Beijing Time on December 8th. Previously, HumidiFi stated that its initial public sale was hampered by bots buying up tokens, preventing ordinary users from participating. The public sale will be restarted next Monday with a proportional airdrop of new tokens to Wetlist and JUP staking users. Bittensor will undergo its first halving on December 14th, at which time the daily supply of TAO will decrease to 3600 tokens. PANews reported on December 8th that, according to Cointelegraph, the AI project Bittensor will undergo its first halving on December 14th, at which time the daily supply of TAO will decrease from 7,200 to 3,600. ZKsync plans to abandon its early network, ZKsync Lite, in 2026. PANews reported on December 8th that, according to The Block, ZKsync announced on Sunday that it plans to discontinue ZKsync Lite (formerly ZKsync 1.0), the original zero-knowledge rollup solution launched on Ethereum in 2020, sometime next year. In its announcement, ZKsync stated that this is a planned and orderly system phase-out, that the system has fulfilled its mission, and will not affect any other ZKsync systems. The team will release specific details, dates, and migration guidelines next year. According to L2BEAT data, although ZKsync Lite currently processes fewer than 200 operations per day, approximately $50 million in user funds remain on the network. ZKsync stated that the funds are safe, and withdrawals to L1 will continue to operate normally throughout the process. ZKsync emphasized that this discontinuation will not affect its other products. It is understood that Matter Labs, the company behind ZKsync, launched the fully functional zkEVM—ZKsync Era—in March 2023, a system capable of running arbitrary smart contracts, and has since ceased active development of ZKsync Lite. The team stated that their next focus will be on systems built on the ZK Stack, Prividiums, and the broader ZKsync network. Important data The "Iron Head Bull" whale opened three long positions in ETH/SUI/FARTCOIN within three hours, with a total open interest of $20.28 million. PANews reported on December 8th that, according to on-chain analyst @ai_9684xtpa, the person who "went long 36 times consecutively between November 3rd and November 26th" has returned to the bullish camp. Three hours ago, he opened three long positions in ETH/SUI/FARTCOIN, with a total position of $20.28 million and a floating profit of $188,000. Among them, the ETH position is worth $9.39 million (holding 3,000 tokens), with an opening price of $3,116.98. After 36 consecutive long positions, he recently started switching between long and short positions, and with this insider whale opening a position, he has returned to the bullish camp. The largest short position in BTC on Hyperliquid currently has a floating profit of approximately $17 million, having reduced its position by about 20 BTC in 26 minutes. PANews reported on December 8th that, according to Hyperbot data, the largest short position in BTC held by a Hyperliquid address with 20x leverage reduced its short position by approximately 20 BTC 26 minutes ago. Currently, its short BTC position stands at 840.7 BTC, valued at approximately $76.76 million, with an average opening price of $111,499.3. The current unrealized profit is approximately $17 million. This whale's total contract account value is currently approximately $10.1 million, with a total profit/loss of +$16.21 million over the past month. The XRP spot ETF saw net inflows of $231 million last week, marking the fourth consecutive week of net inflows. PANews reported on December 8th that, according to SoSoValue data, XRP spot ETFs saw a net inflow of $231 million last week (December 1st to December 5th, Eastern Time). The XRP spot ETF with the largest net inflow last week was Grayscale XRP ETF (GXRP), with a weekly net inflow of $140 million, bringing its historical total net inflow to $212 million. This was followed by Franklin XRP ETF (XRPZ), with a weekly net inflow of $49.29 million, bringing its historical total net inflow to $135 million. As of press time, the total net asset value of XRP spot ETFs was $861 million, with an ETF net asset value ratio (market capitalization as a percentage of Bitcoin's total market capitalization) of 0.71%, and a historical cumulative net inflow of $897 million. Investment and Financing/Acquisition Robinhood will enter the Indonesian market through the acquisition of a brokerage business and a crypto trading platform. PANews reported on December 8th that, according to Reuters, Robinhood announced in a blog post on Sunday that it will acquire Indonesian brokerage firm Buana Capital Sekuritas and licensed digital asset trader Pedagang Aset Kripto. This marks the retail trading platform's official entry into one of Southeast Asia's major cryptocurrency hubs. Indonesia boasts over 19 million capital market investors and 17 million cryptocurrency traders, highlighting its appeal in stock and digital asset trading. Institutional holdings Metaplanet has not increased its Bitcoin holdings since September 30. PANews reported on December 8 that, according to Cointelegraph, Japanese listed company Metaplanet has not increased its Bitcoin holdings since September 30, and its Bitcoin holdings remain at 30,823. Twenty One Capital transferred 43,122 BTC to a new wallet. PANews reported on December 8 that, according to Lookonchain, Twenty One Capital has just transferred 43,122 BTC to a new wallet, worth $3.94 billion. Bloomberg: The median share price of DAT companies listed in the US and Canada has fallen 43% this year. PANews reported on December 8th, citing Bloomberg, that the median stock price of publicly traded digital asset treasuries (DATs) in the US and Canada has fallen by 43% this year. In contrast, Bitcoin has only fallen by about 6% since the beginning of the year. Ethereum treasury company SharpLink's stock price has fallen 86% from its peak, and its market capitalization is even lower than the value of its digital token holdings. Currently, the company's stock price is approximately 0.9 times the value of its Ethereum holdings. SharpLink previously announced it was abandoning its original gaming business and instead issuing shares to purchase a large amount of Ethereum, causing its stock price to surge by over 2600% in a few days. However, it is relatively fortunate compared to Greenlane, whose stock price has plummeted by over 99% this year despite holding approximately $48 million worth of BRA crypto tokens. Furthermore, the stock price of WLFI treasury company Alt5 Sigma, which was supported by Trump's two sons, has fallen by about 86% since its June peak. Some fortunate DAT companies still have a market capitalization higher than their underlying holding value, but most investors who bought near the peak have lost money, and 70% of these companies' stock prices are likely to fall below their beginning-of-year levels by the end of the year. The worst performers were publicly traded companies that avoided Bitcoin in favor of smaller, more volatile tokens. This volatility in their stocks was at least partly due to the heavy borrowing involved in their cryptocurrency acquisitions. Meanwhile, for smaller, lesser-known DAT companies, the chances of raising capital became even slimmer as cryptocurrency prices fell and investor enthusiasm waned.Today's top news highlights: Banmu Xia: This week's Fed rate cut will normalize liquidity, and the market will see a broad-based rally this week and even this month. Analysis: Bitcoin has stabilized in the short term, but sentiment remains cautious ahead of the FOMC meeting. Farcaster announces strategic shift: from a social-first approach to wallet-driven growth. HumidiFi: New token public sale will begin on December 8th at 23:00. The XRP spot ETF saw net inflows of $231 million last week, marking the fourth consecutive week of net inflows. Metaplanet has not increased its Bitcoin holdings since September 30. Bloomberg: The median share price of DAT companies listed in the US and Canada has fallen 43% this year. Pop Mart shares closed down 8.49%, amid market concerns about slowing overseas sales. Macro Pop Mart shares closed down 8.49%, amid market concerns about slowing overseas sales. Pop Mart (09992.HK) shares continued their downward trend, closing down 8.49% at HK$200.4, after falling as low as HK$199 during the session, marking its biggest drop in six weeks. Market concerns intensified regarding its overseas sales performance, particularly the possibility that sales figures during the US "Black Friday" period might fall short of expectations. Data shows that since December 2nd, short selling of the company has surged from HK$241 million to HK$623 million, indicating a significant increase in bearish sentiment. Previously, Deutsche Bank warned that the Labubu series' premium in the secondary market had significantly declined due to a substantial increase in production capacity, and gave it a "hold" rating. Morgan Stanley predicted significant sales growth for the Labubu series in 2024, but the growth rate would slow down in 2025, and lowered its target price to HK$325. Despite Pop Mart's third-quarter revenue increasing by 245%-250% year-on-year, with overseas markets growing by 365%-370%, the stock price failed to stop falling. Analysts believe that the company's future growth momentum is questionable during its transition from "explosive growth" to "sustainable growth," which may limit the upside potential of the stock price. Argentina may allow banks to offer cryptocurrency trading services. PANews reported on December 8th, citing FinanceFeeds, that the Central Bank of Argentina (BCRA) is considering lifting the long-standing ban on traditional financial institutions offering cryptocurrency trading and custody services. This policy shift, moving from an explicit ban to regulated integration, is primarily driven by Argentina's unique economic environment and surging demand for digital assets. Current regulations prohibit banks from participating in crypto trading, aiming to reduce risk and curb the use by unregulated entities. However, the government of President Javier Milei, which supports market-oriented and crypto-friendly policies, is evaluating a new regulatory framework to allow banks to enter the market under strict rules. This move aims to bring the massive crypto trading activity into the formal banking system, thereby providing a safer, more compliant channel, enhancing investor protection, and strengthening KYC and anti-money laundering (AML) controls. Furthermore, this will allow the government to more effectively track and tax crypto assets while acknowledging their important role as an inflation hedge. The U.S. SEC's Cryptocurrency Working Group will hold a roundtable meeting on financial regulation and privacy on December 15. PANews reported on December 8th that, according to official sources, the U.S. Securities and Exchange Commission (SEC) Cryptocurrency Working Group announced it will hold a public roundtable discussion on financial regulation and privacy at SEC headquarters on December 15th (local time) to delve into related policy issues. The meeting will be streamed live online. The BRICS nations launched "Unit," a digital currency backed by gold. PANews reported on December 8th, citing the Institute of Economic Strategy of the Russian Academy of Sciences (IRIAS), that the BRICS countries have launched a working prototype of a gold-backed trade currency called "Unit." This is a digital trading instrument backed by a reserve basket containing 40% physical gold and 60% BRICS currencies, with the Brazilian Real, Chinese Yuan, Indian Rupee, Russian Ruble, and South African Rand having equal weights. The pilot project was initiated by IRIAS, which issued 100 Units on October 31st, each initially pegged to 1 gram of gold. Opinion Analysts: Bitcoin bulls must hold the key Fibonacci support level to prevent the price from falling to $76,000. PANews reported on December 8th that, according to Cointelegraph, crypto analyst Daan Crypto Trades pointed out that Bitcoin is currently hovering near a key technical price level. This level, as a 0.382 Fibonacci retracement range, is a key support and resistance level in the market cycle. It must hold effectively to avoid significant losses. A break below this level could see Bitcoin's price fall to around $76,000, the low point in April. Testing this low would break the existing market structure in the long-term timeframe. On Sunday evening, the Bitcoin market experienced a sharp short-term liquidation, with both long and short leveraged positions being closed. The price briefly fell below $88,000 before quickly rebounding above $91,500. This is undoubtedly an example of a low-liquidity market being manipulated over the weekend to simultaneously clear long and short leveraged positions. Banmu Xia: This week's Fed rate cut will normalize liquidity, and the market will see a broad-based rally this week and even this month. PANews reported on December 8th that Chinese crypto analyst Banmuxia wrote, "This week's Fed rate cut and renewed balance sheet expansion will normalize tight liquidity, making this week a week of broad-based gains (US stocks, crypto, precious metals, etc.), and even the following month could be a month of broad-based gains." Banmuxia also cited his article published on November 11th, which stated, "Starting in December, the Fed will stop shrinking its balance sheet and may begin expanding it, at which point liquidity will return to normal, similar to October 2019. The real massive easing will have to wait until May next year, after Trump takes control of the Fed, similar to March 2020." Analysis: Bitcoin has stabilized in the short term, but sentiment remains cautious ahead of the FOMC meeting. PANews reported on December 8th that Matrixport's chart today indicates that with the FOMC meeting on December 10th approaching, market sentiment is highly focused on related policy signals. While Bitcoin prices have stabilized somewhat, it's difficult to consider this a new round of upward movement. Option pricing still implies approximately 5% downside, with funds still hedging against pullback risks. Given the general trend of deleveraging and position reduction at the end of the year, short-term rebounds are more likely to be used as a window for reducing positions rather than a new signal to add to them. Seasonally, market liquidity tends to be tight around Christmas, making it difficult to sustain upward trends. The current key level is roughly around $91,500. Statistically, the baseline scenario remains continued volatility convergence, and the possibility of a strong breakout immediately after the FOMC meeting is relatively limited. Grayscale: Bittensor's halving next week is expected to push up the price of TAO tokens. PANews reported on December 8th, citing The Block, that Grayscale Research analyst Will Ogden Moore stated, "Bitcoin's history shows that even with reduced rewards, decreasing supply can boost network value, as Bitcoin's network security and market value have been strengthened through four consecutive halvings. Similarly, Bittensor's first halving marks a significant milestone in the network's maturation as it moves towards its 21 million token supply cap." Moore noted that Bittensor is currently experiencing strong adoption momentum, with institutional interest steadily increasing. Moore pointed out that the launch of dTAO in February was a major achievement for Bittensor. This mechanism allows direct investment in subnets, leading to a significant expansion of the total market capitalization of these subnets. Moore wrote, "We believe that the early success of certain subnet-based applications, the increase in institutional capital within the Bittensor ecosystem, and the upcoming TAO supply halving could all be positive catalysts driving price increases." Previously, it was reported that Bittensor will undergo its first halving on December 14th, at which time the daily issuance of TAO will decrease to 3,600 tokens. Project Updates Binance Alpha will list Midnight (NIGHT) on December 9th. PANews reported on December 8th that Binance Alpha will launch its Midnight (NIGHT) event on December 9th. Qualified users can claim an airdrop using their Binance Alpha points on the Alpha event page after trading opens. XMAQUINA has approved a proposal to conduct a $DEUS TGE, with 110 million DEUS to be used for the final pre-sale. PANews reported on December 8th that, according to official news from Web3 robotics company XMAQUINA, proposal XMQ-02 has been officially passed, receiving over 19 million votes in support, representing a support rate of over 96%. The proposal aims to allocate 128,067,280 DEUS (approximately 12.8% of the total supply) and $150,000 USDC to the DEUS Token Generation Event (TGE) for key initiatives such as community pre-sales, liquidity support, and ecosystem development. The main allocation plan includes: Community Pre-sale: Allocating 110 million DEUS (11% of the total supply) for the final round of the community pre-sale to raise funds to expand the DAO's equity investment in a leading humanoid robotics company. Liquidity and Ecosystem Growth: Allocating 18,067,280 DEUS (1.8% of the total supply) and $150,000 USDC for exchange listing fees, liquidity support, and DAO infrastructure development. Token Transferability: The transferability of DEUS tokens will be activated from January 1st to February 15th, 2026, paving the way for exchange listing and market access. Related Reading: When Robots Learn to Think, Earn Money, and Collaborate: Analyzing 15 Types of Robotics Technologies and Applications. Farcaster announces strategic shift: from a social-first approach to wallet-driven growth. PANews reported on December 8th that Farcaster co-founder Dan Romero announced on social media that the project focuses on creating a wallet to attract more users. After a four-and-a-half-year trial of a social-first strategy that failed, and with the wallet business consistently growing, they decided to increase investment in this area. This means new features and product positioning will be centered around the wallet. Romero emphasized, "We have transformed; the product now focuses on wallet users. And the most important function of our wallet is trading. That's the core. People are free to use the product without using the wallet. But we focus on the wallet/trading." HumidiFi: New token public sale will begin on December 8th at 23:00. PANews reported on December 8th that HumidiFi announced on its X platform that its new token public sale will begin at 10:00 AM Eastern Time the following day, which is 14 hours later. This translates to 11:00 PM Beijing Time on December 8th. Previously, HumidiFi stated that its initial public sale was hampered by bots buying up tokens, preventing ordinary users from participating. The public sale will be restarted next Monday with a proportional airdrop of new tokens to Wetlist and JUP staking users. Bittensor will undergo its first halving on December 14th, at which time the daily supply of TAO will decrease to 3600 tokens. PANews reported on December 8th that, according to Cointelegraph, the AI project Bittensor will undergo its first halving on December 14th, at which time the daily supply of TAO will decrease from 7,200 to 3,600. ZKsync plans to abandon its early network, ZKsync Lite, in 2026. PANews reported on December 8th that, according to The Block, ZKsync announced on Sunday that it plans to discontinue ZKsync Lite (formerly ZKsync 1.0), the original zero-knowledge rollup solution launched on Ethereum in 2020, sometime next year. In its announcement, ZKsync stated that this is a planned and orderly system phase-out, that the system has fulfilled its mission, and will not affect any other ZKsync systems. The team will release specific details, dates, and migration guidelines next year. According to L2BEAT data, although ZKsync Lite currently processes fewer than 200 operations per day, approximately $50 million in user funds remain on the network. ZKsync stated that the funds are safe, and withdrawals to L1 will continue to operate normally throughout the process. ZKsync emphasized that this discontinuation will not affect its other products. It is understood that Matter Labs, the company behind ZKsync, launched the fully functional zkEVM—ZKsync Era—in March 2023, a system capable of running arbitrary smart contracts, and has since ceased active development of ZKsync Lite. The team stated that their next focus will be on systems built on the ZK Stack, Prividiums, and the broader ZKsync network. Important data The "Iron Head Bull" whale opened three long positions in ETH/SUI/FARTCOIN within three hours, with a total open interest of $20.28 million. PANews reported on December 8th that, according to on-chain analyst @ai_9684xtpa, the person who "went long 36 times consecutively between November 3rd and November 26th" has returned to the bullish camp. Three hours ago, he opened three long positions in ETH/SUI/FARTCOIN, with a total position of $20.28 million and a floating profit of $188,000. Among them, the ETH position is worth $9.39 million (holding 3,000 tokens), with an opening price of $3,116.98. After 36 consecutive long positions, he recently started switching between long and short positions, and with this insider whale opening a position, he has returned to the bullish camp. The largest short position in BTC on Hyperliquid currently has a floating profit of approximately $17 million, having reduced its position by about 20 BTC in 26 minutes. PANews reported on December 8th that, according to Hyperbot data, the largest short position in BTC held by a Hyperliquid address with 20x leverage reduced its short position by approximately 20 BTC 26 minutes ago. Currently, its short BTC position stands at 840.7 BTC, valued at approximately $76.76 million, with an average opening price of $111,499.3. The current unrealized profit is approximately $17 million. This whale's total contract account value is currently approximately $10.1 million, with a total profit/loss of +$16.21 million over the past month. The XRP spot ETF saw net inflows of $231 million last week, marking the fourth consecutive week of net inflows. PANews reported on December 8th that, according to SoSoValue data, XRP spot ETFs saw a net inflow of $231 million last week (December 1st to December 5th, Eastern Time). The XRP spot ETF with the largest net inflow last week was Grayscale XRP ETF (GXRP), with a weekly net inflow of $140 million, bringing its historical total net inflow to $212 million. This was followed by Franklin XRP ETF (XRPZ), with a weekly net inflow of $49.29 million, bringing its historical total net inflow to $135 million. As of press time, the total net asset value of XRP spot ETFs was $861 million, with an ETF net asset value ratio (market capitalization as a percentage of Bitcoin's total market capitalization) of 0.71%, and a historical cumulative net inflow of $897 million. Investment and Financing/Acquisition Robinhood will enter the Indonesian market through the acquisition of a brokerage business and a crypto trading platform. PANews reported on December 8th that, according to Reuters, Robinhood announced in a blog post on Sunday that it will acquire Indonesian brokerage firm Buana Capital Sekuritas and licensed digital asset trader Pedagang Aset Kripto. This marks the retail trading platform's official entry into one of Southeast Asia's major cryptocurrency hubs. Indonesia boasts over 19 million capital market investors and 17 million cryptocurrency traders, highlighting its appeal in stock and digital asset trading. Institutional holdings Metaplanet has not increased its Bitcoin holdings since September 30. PANews reported on December 8 that, according to Cointelegraph, Japanese listed company Metaplanet has not increased its Bitcoin holdings since September 30, and its Bitcoin holdings remain at 30,823. Twenty One Capital transferred 43,122 BTC to a new wallet. PANews reported on December 8 that, according to Lookonchain, Twenty One Capital has just transferred 43,122 BTC to a new wallet, worth $3.94 billion. Bloomberg: The median share price of DAT companies listed in the US and Canada has fallen 43% this year. PANews reported on December 8th, citing Bloomberg, that the median stock price of publicly traded digital asset treasuries (DATs) in the US and Canada has fallen by 43% this year. In contrast, Bitcoin has only fallen by about 6% since the beginning of the year. Ethereum treasury company SharpLink's stock price has fallen 86% from its peak, and its market capitalization is even lower than the value of its digital token holdings. Currently, the company's stock price is approximately 0.9 times the value of its Ethereum holdings. SharpLink previously announced it was abandoning its original gaming business and instead issuing shares to purchase a large amount of Ethereum, causing its stock price to surge by over 2600% in a few days. However, it is relatively fortunate compared to Greenlane, whose stock price has plummeted by over 99% this year despite holding approximately $48 million worth of BRA crypto tokens. Furthermore, the stock price of WLFI treasury company Alt5 Sigma, which was supported by Trump's two sons, has fallen by about 86% since its June peak. Some fortunate DAT companies still have a market capitalization higher than their underlying holding value, but most investors who bought near the peak have lost money, and 70% of these companies' stock prices are likely to fall below their beginning-of-year levels by the end of the year. The worst performers were publicly traded companies that avoided Bitcoin in favor of smaller, more volatile tokens. This volatility in their stocks was at least partly due to the heavy borrowing involved in their cryptocurrency acquisitions. Meanwhile, for smaller, lesser-known DAT companies, the chances of raising capital became even slimmer as cryptocurrency prices fell and investor enthusiasm waned.