PA Daily | The Fear and Greed Index fell below 70 for the first time since October 24; Binance will launch PHA and DF perpetual contracts

Today's news tips:

Report: 51 countries/regions prohibit crypto assets, and some economies regulate them by adjusting laws or re-legislating

Binance will launch PHAUSDT and DFUSDT 1-75x USDT perpetual contracts

Hamster Kombat to build L2 blockchain on TON chain

FLock announces token economics and airdrop plan: 66.7% allocated to the community and ecosystem

Founder of ai16z: There is no need to imitate ai16z, innovative areas such as "making money while sleeping" are worth exploring

Today's Fear and Greed Index dropped to 65, a new low since October 15

In December, DEX trading volume exceeded US$320 billion, and CEX spot trading volume exceeded the highest level since May 2021

Data: Bitget has destroyed 800 million BGB through 5 addresses, worth about 5.2 billion US dollars

Regulatory/Macro

Rhodium sells Temple Bitcoin mine for $40.6 million, co-CEO resigns

According to The Miner Mag, Bitcoin mining company Rhodium Enterprises completed the sale of its mine in Temple, Texas for $40.6 million in cash, and the company's co-CEO Nathan Nichols announced that he would resign in early 2025. Previously, the company's creditors had sued it and its co-founders for suspected fraud. Rhodium said that it repaid the $16 million debt it received from Galaxy Digital from the proceeds of the sale, and plans to restart the mining machine hosting business at Riot's Rockdale facility. The auction of the mine was won by Temple Green Data LLC, which is associated with Rowan Digital Infrastructure but did not acquire the mine's Bitcoin mining equipment. In addition, the court ruled that Rhodium's hosting contract with Riot's Whinstone US is still valid, allowing Rhodium to continue operating at the Rockdale facility.

Report: 51 countries/regions prohibit crypto assets, and some economies regulate them by adjusting laws or re-legislating

According to the "China Financial Stability Report (2024)", global cryptocurrency regulation continues to increase. Currently, 51 countries and regions in the world have issued regulations prohibiting crypto assets, and some economies have adjusted laws or re-legislated to regulate. The report specifically mentioned Hong Kong's progress in cryptocurrency compliance, and its "dual license" system covers both security and non-security tokens. At the same time, the U.S. Securities and Exchange Commission (SEC) approved the listing of Bitcoin spot ETFs in January 2024, but the SEC chairman said that this does not mean that the SEC has approved or recognized Bitcoin products, warning investors to be cautious about Bitcoin and other products linked to crypto assets, emphasizing their potential risks.

German FDP Chairman Calls for Bitcoin and Other Cryptocurrencies to be Included in Central Bank Reserves

According to Handelsblatt, Christian Lindner, chairman of the German Free Democratic Party (FDP) and former finance minister, called on the European Central Bank (EZB) and the German Federal Bank to include cryptocurrencies such as Bitcoin in their reserves. He mentioned that the US government is taking an aggressive crypto asset policy and studying whether the Federal Reserve should include cryptocurrencies in its reserves. Lindner said that Europe needs to avoid being surpassed by the United States in this area and suggested reviewing the inclusion of crypto assets as part of reserves in Frankfurt to enhance the risk resistance of reserves. He emphasized that crypto assets have become an important part of global wealth growth.

Project News

Binance will launch PHAUSDT and DFUSDT 1-75x USDT perpetual contracts

According to the official announcement, Binance Futures will launch perpetual contracts at the following times, with a maximum leverage of 75 times: December 30, 2024, 19:30 (ET8): PHAUSDT perpetual contract; December 30, 2024, 19:45 (ET8): DFUSDT perpetual contract.

Hamster Kombat to build L2 blockchain on TON chain

According to Hamster Kombat official news, its DAO community has completed the vote on the second proposal and decided to build the Hamster L2 blockchain on the TON blockchain. The official said that this technical foundation will serve its world's largest Web3 community and promised to start development work immediately and bring more good news as soon as possible.

FLock announces token economics and airdrop plan: 66.7% allocated to the community and ecosystem

According to FLock's official news, as the token generation event (TGE) approaches, FLock announced the token economics and airdrop plan: the total supply is 1 billion tokens, of which 66.7% are allocated to the community and ecosystem, and 5% (50 million) are used to reward early users and the community, including trainers, validators, delegators, model users and partners. Users participating in the airdrop must meet the eligibility conditions, such as model store users must have a score of more than 300 points, verify at least one social account and hold Ethereum or Base mainnet assets; AI Arena users must earn at least 1 FML (testnet token). The platform prevents duplicate users through IP address detection, and violations will result in reduced rewards. After the airdrop, FLock will launch the mainnet model to encourage users to participate in training and verification to promote the development of the platform.

Viewpoint

Matrixport: Bitcoin usually experiences a short period of consolidation after a rapid build-up, and the bull market may continue

According to Matrixport data, Bitcoin is currently digesting the surge in the past few weeks, with its open interest increasing from $18 billion in October to $29 billion, an increase of 50%. At the same time, Bitcoin's funding rate has also soared from 10% to a high of 80%. Historical data shows that this rapid position building is usually followed by a short period of consolidation, and the bull market may continue. Analysts believe that this pattern may reappear, especially when the market is light during the Christmas holiday. Investors are looking forward to the new year, expecting new capital inflows to drive Bitcoin prices further up.

The "godfather of artificial intelligence" warns that there is a 20% chance that AI will cause human extinction in the next 30 years

According to The Guardian, Geoffrey Hinton, the "godfather of AI" who won the Nobel Prize in Physics for his research on AI, warned that the probability of AI causing human extinction in the next 30 years is between 10% and 20%. He pointed out that the development speed of AI technology is "far beyond expectations" and AI systems that exceed human intelligence may be difficult to control. Hinton called on the government to strengthen supervision of AI technology, believing that the safe development of AI cannot be guaranteed by the profit-seeking motives of enterprises alone. He emphasized that a large number of experts in the field of AI predict that AI systems that are smarter than humans will appear in the next 20 years, which poses a major threat to humans. In addition, Yann LeCun, chief scientist of Meta, who is also the "godfather of AI", holds a different view and believes that AI may save humans from extinction.

Founder of ai16z: There is no need to imitate ai16z, innovative areas such as "making money while sleeping" are worth exploring

In a post on the X platform, Shaw, the founder of ai16z, said that there is no need to imitate their projects, and there are many unexplored areas worth trying, and emphasized that innovation and bold attempts can bring greater potential benefits. In response to the question of "what areas do you hope people will expand into", he suggested focusing on the following directions: projects that allow people to "make money while sleeping", tools that help people save time, and new forms of expanding existing applications or websites to social media.

Important data

In December, DEX trading volume exceeded US$320 billion, and CEX spot trading volume exceeded the highest level since May 2021

According to data from The Block, the monthly trading volume of decentralized exchanges (DEX) reached a record high in December, totaling $320.5 billion, breaking the $300 billion mark for the first time and breaking the record of $299.6 billion set in November. Among them, Uniswap led with a trading volume of more than $103 billion, followed by Pancakeswap with a monthly trading volume of $72 billion, and Raydium on Solana ranked third with $54.6 billion. Analysts pointed out that many popular crypto assets (such as AI-related tokens) are only traded on DEX, while the rise of some projects such as Hyperliquid also shows that CEX listing is no longer a necessary condition for achieving high market value. In addition, CEX spot trading volume in December also reached its highest level since May 2021, with a total of $2.78 trillion, of which Binance contributed nearly $950 billion, and Crypto.com, Upbit, Bybit and Coinbase also processed hundreds of billions of dollars in trading volume. Analysts believe that the surge in DEX and CEX trading volumes reflects the recovery of market activity, driven by the recent increase in volatility, increased trust in the DeFi ecosystem, and improvements in CEX liquidity and trading tools.

Today's Fear and Greed Index dropped to 65, a new low since October 15

According to Alternative data, today's Fear and Greed Index dropped sharply to 65 (yesterday's was 73), and the market is still in a "greed state". This is the first time it has fallen below 70 since October 24, setting a new low since October 15.

Data: Bitget has destroyed 800 million BGB through 5 addresses, worth about 5.2 billion US dollars

According to @ai_9684xtpa, Bitget destroyed 800 million BGB through 5 addresses in the past hour, with a total value of about 5.2 billion US dollars. Earlier news said that Bitget would destroy BGB worth more than 5 billion US dollars, accounting for 40% of the total supply.

A trader invested $3,400 in AIXBT in November and received a return of more than 3,500 times, which is currently worth $12 million.

According to The Data Nerd, the address "0xgalahad.eth" exchanged 24.566 million $AIXBT tokens at a price of about $3,400 on November 4, and then added liquidity without selling any $AIXBT. The current estimated return on its investment is about $12 million, with a return on investment of 3,549 times.

CryptoQuant CEO: Bitcoin as SoV, total stored capital valuation reaches $1.03 trillion

According to CryptoQuant CEO Ki Young Ju, the total stored capital of the Bitcoin network has increased by 85% this year to $1.03 trillion, combining on-chain and off-chain data. The estimation methods include: 1. Off-chain transactions: Calculate the capital flowing into the market through exchanges by multiplying the exchange reserves by VWAP (weighted average price). 2. On-chain transactions: Using the realized market value (Realized Cap), track the capital inflow of over-the-counter (OTC) transactions and on-chain activities of exchanges. The above data are combined to form the "Storage of Value Index" (SoV Index), which reflects the capital storage level of Bitcoin in the network.

MakerDAO monthly revenue and capture fees both hit record highs

According to DeFiLlama data, MakerDAO's captured fees this month reached $39.52 million, and its monthly revenue reached $25.96 million, both of which hit record highs. The protocol has accumulated a total of $555.68 million in fees and $384.95 million in revenue. Among them, the single-day captured fees on December 9 reached $1.67 million, and the revenue was $1.18 million, setting a single-day peak; the captured fees for the week reached $10.61 million, and the weekly revenue was $7.05 million.