TL;DR

• ETH has bottomed out and rebounded, with its price rising 4.93% in the past 24 hours; Bitcoin remains weak with slight price fluctuations and a small decline.
• Former President Trump announced that former football player Hines will serve as the Executive Director of the Presidential Advisory Committee on Digital Assets.
• The total open interest of BTC options across the network has fallen to $38.88 billion, with $20 billion in options set to expire on the 27th.
• The DeSci protocol Bio Protocol has released its roadmap for Q1 2025.
• The dYdX community has voted to approve a $4 million DEP grant program.

Market Analysis

According to Gate.io market data, as of December 24, 0:00 (UTC+0)[1]:

• BTC — The price of BTC declined by 0.5% in the past 24 hours, currently trading at $94,411.8. Over the same period, the highest price reached $96,440.9, and the lowest was $92,291.8. After a second bottoming, BTC has entered a new short-term consolidation channel. While the price has declined in the short term, it has not breached the previous low. Meanwhile, the MACD line is slightly above the signal line. Currently, a short-term support level has formed near $92,300, with overall trading volume remaining low and market sentiment relatively cautious[2].

• ETH — The price of ETH increased by 4.93% in the past 24 hours, currently trading at $3,416.67. During this period, the highest price was $3,463.78, and the lowest was $3,225.98. ETH has entered a consolidation range, showing stronger rebound momentum compared to BTC. There are signs of price stabilization. However, trading volume remains low, indicating a cautious market sentiment with bulls and bears temporarily in balance[3].

• ETF — According to Farside Investors data, on December 23, Bitcoin spot ETFs experienced a net outflow of $226 million, while Ethereum spot ETFs saw a net inflow of $130 million[4].
• Altcoins — Sectors such as Virtuals Protocol Ecosystem (+31.4%), AI Agent Launchpad (+24.1%), and Sui Meme (+11.5%) showed significant changes[5].
• U.S. Stock Market — On December 23, the S&P 500 Index rose by 0.73%, the Dow Jones Industrial Average increased by 0.11%, while the Nasdaq Composite Index fell by 0.09%[6].
• Spot Gold — The price of spot gold reached $2,617.17 per ounce, with a daily increase of 0.15%[7].
• Fear & Greed Index — The Fear and Greed Index stood at 73, indicating that the market is currently in a state of greed[8].

Top Performers

Based on Gate.io market data, based on the trading volume and price performance over the past 24 hours, the top-performing altcoins are as follows:

ARC (AI Rig Complex) — Daily gain of approximately 51.40%, with a circulating market cap of $164 million.
ARC is a cutting-edge AI open-source framework developed by Playgrounds Analytics Inc., designed for building modular and scalable AI applications and deploying AI Agents. The protocol utilizes the Rust programming language, and the ARC token serves as the native token of the Arc framework.

Over the past weekend, the ARC team released the Handshake tool, which has attracted a significant influx of developers to its AI platform. The ecosystem has shown steady growth, with a harmonious and active community dedicated to advancing AI development. This momentum has further propelled the growth of the ARC ecosystem[9].

GOUT — Daily gain of approximately 46.71%, with a circulating market cap of $57.95 million.
Born out of meme culture, $GOUT is a token that not only brings humor but also delivers tangible value to its community. From memes to skyrocketing returns, $GOUT is leading the trend. Recently, the GOUT ecosystem introduced several updates, including the launch of features like the MEME PUMP platform, SWAP, multi-chain MEME incubation, and a cross-chain bridge, attracting a wave of new fans. Additionally, its social media accounts announced a new incentive program that includes staking rewards, NFT rewards, and LP rewards. This dynamic token model has driven the price surge of GOUT[10].

LUNAI (Luna by Virtuals) — Daily gain of approximately 44.58%, with a circulating market cap of $118 million.
Luna, an autonomous AI agent created on the Virtuals Protocol platform, operates using the native token LUNAI. Luna broadcasts and autonomously tweets via its Twitter account 24/7 and manages its own on-chain wallet independently. The recent rise in LUNAI’s price is partly attributed to its listing on multiple centralized exchanges. Following the Alpha announcement, the price of LUNAI has consistently climbed. Furthermore, the platform has actively engaged its community through social media campaigns and voting events, boosting community involvement. The team’s proactive outreach to multiple exchanges has further stimulated market sentiment and attracted more investor attention[11].

Data Highlights

Total Cryptocurrency Market Cap Falls to $3.41 Trillion
According to CoinGecko data, the total cryptocurrency market cap recently declined to $3.41 trillion, down 1.76% in the past 24 hours. Over the past 14 days, the crypto market has experienced significant volatility. From December 9 to 12, the market cap experienced a marked decline, followed by a brief rebound around December 15, before entering another downward trend.

In terms of trading volume, overall market activity Remains stagnant, reflecting a cautious sentiment among market participants.

Potential factors contributing to the decline include macroeconomic uncertainties, technical corrections in major cryptocurrencies, and the low-liquidity environment typical of year-end periods. Additionally, investors are taking a wait-and-see approach regarding short-term policy changes and macroeconomic data.

Nonetheless, as the market gradually absorbs these pressures, there may be room for a rebound in the future, particularly if the ecosystems of leading projects continue to expand, which could signal positive momentum for the market[12].

Total BTC Options Open Interest Decreases to $38.88 Billion
According to CoinGlass data, the current nominal open interest for BTC options stands at $38.88 billion, while ETH options total $9.1 billion. Both BTC and ETH open interest reached peaks in mid-December but have since retreated slightly, remaining at relatively high levels. This trend highlights continued investor interest in the options market, particularly amidst recent significant price volatility.

From early to mid-December, BTC and ETH prices showed an upward trend before undergoing adjustments. However, the high levels of open interest suggest that market sentiment remains optimistic, with traders holding strong expectations for future movements. An increase in open interest often indicates capital inflows, but caution is warranted due to the potential for short-term volatility.

Singapore-based digital asset trading firm QCP noted in its market analysis that following last week’s crash and as the holiday season approaches, the spot market continues to trade sideways. While this week seems relatively calm, attention is focused on the large expiration event on December 27, where BTC and ETH options with a nominal value of nearly $20 billion are set to expire. This accounts for almost half of Deribit’s total open interest.

After the expiration, a typical end-of-quarter volatility sell-off may occur, especially considering the ongoing spot price fluctuations and option sellers closing positions. Unlike most sellers who must wait for collateral to be released post-expiration, bullish option buyers may have already closed most of their positions. However, if BTC successfully breaks the $100,000 mark, volatility could remain elevated[13].

Social PayFi Platform Zingo Surpasses 500,000 Users in 30 Days
The social PayFi platform Zingo has surpassed 500,000 ecosystem users just 30 days after its launch as a Mini App on Telegram. Zingo leverages a wide range of entertainment-based applications to provide engaging social content and viral growth tools, while also meeting user consumption needs.

Currently, Zingo focuses on gaming as its primary use case, with five games already launched. Future plans include adding fun AI experiences and audio/video applications. According to official announcements, Zingo 2.0 is set to launch soon, featuring what is described as “the simplest and most user-friendly wallet in the Telegram ecosystem.” This wallet will not only support usage within the Zingo ecosystem but also serve as infrastructure for all Telegram Mini Apps (TMA) requiring integrated wallet capabilities.

Telegram Mini Apps are gaining traction due to their large user base, low development barriers, and deep integration with the Telegram ecosystem. These apps enable projects to quickly reach users, reduce customer acquisition costs, and unlock significant potential in the Web3 space by providing developers with more room for innovation.

With the arrival of the Web3 era, the future of Mini Apps looks promising, as more project teams are expected to adopt this model to launch their applications[14].

Spotlight Analysis

Trump Appoints Former Football Player Hines as Executive Director of the Presidential Advisory Committee on Digital Assets
Recently, Trump announced on Truth Social that Hines will serve as the Executive Director of the Presidential Advisory Committee on Digital Assets. This advisory group is chaired by David Sacks, and Hines will collaborate with Sacks to drive innovation and growth in the digital asset sector, while ensuring industry leaders have access to the resources needed for success.

Additionally, Sriram Krishnan will serve as a Senior Policy Advisor on Artificial Intelligence in the White House Office of Technology Policy.

Hines, a former college football player, unsuccessfully ran for Congress in 2022. Trump wrote: “In his new role, Bo (Hines) will work with David to foster innovation and growth in the digital assets space, while ensuring industry leaders have the resources they need to succeed. Together, they will create an environment where this industry can flourish.”[15]

DeSci Protocol Bio Protocol Releases Q1 2025 Roadmap
The BIO token will hold its Token Generation Event (TGE) on the Ethereum mainnet on January 3, 2025, with plans to launch subsequently on Solana and Base networks. Concurrently, the protocol will introduce Long COVID Labs, new BioDAO projects, and BIO/BioDAO liquidity pools.

In February 2025, Bio Protocol aims to launch the Curetopia platform and roll out a new version of the BIO Launchpad, followed by the release of a Solana-based BIO Launchpad.

BIO is a governance and liquidity protocol for decentralized science (DeSci). Its mission is to empower a global community of patients, scientists, and biotech professionals to co-fund, build, and own tokenized biotechnology projects and intellectual property (IP), accelerating biotech advancements. The team behind BIO previously developed Molecule, a tokenization platform for early-stage biomedicine, and VitaDAO, the largest decentralized community for longevity science. Building on these successes, BIO aims to catalyze the on-chain science economy through decentralized funding, incentives, and liquidity[16].

dYdX Community Approves $4 Million DEP Funding Plan
The dYdX community recently completed a significant vote, approving the allocation of $4 million from the Treasury subDAO assets to fund the dYdX Ecosystem Program (DEP) over the next 14 months. The vote saw participation from 43 of the 60 active validator nodes and 813 individual accounts, with a voter turnout of 57.38%.

The final results showed 75.02% support, 0.11% opposition, and 24.87% abstention. This outcome highlights the community’s commitment to ecosystem development. Through DEP, dYdX aims to further build out its decentralized derivatives trading ecosystem, providing developers and the community with additional resources.

The high level of participation and overwhelming support underscore the maturity of dYdX’s governance processes and the critical role of DAOs in resource allocation and strategic decision-making. This funding plan is expected to strengthen dYdX’s competitive position and solidify its leadership in the decentralized derivatives market[17].

Funding News

According to RootData, three projects publicly announced funding rounds totaling $20.6 million, covering sectors like stablecoins and blockchain infrastructure. The details are as follows:[18]

Avalon Labs — Raised $10 million in a Series A funding round led by Framework Ventures and UXTO Management.
Avalon Labs is an innovative company focused on the Bitcoin DeFi ecosystem, primarily issuing a BTC-backed stablecoin, USDa. The company aims to transform Bitcoin from a traditional digital store of value into a more functional financial tool, offering users diverse application scenarios.

Usual — Secured $10 million in a Series A funding round with participation from Binance Labs and Kraken Ventures.
Usual is a decentralized stablecoin issuance platform that leverages its governance token, $USUAL, to achieve distributed ownership and governance of its infrastructure and treasury. By mitigating bank and counterparty risks, it gives users control over the protocol’s cash flow and governance, fostering sustainable decentralized ecosystem development.

The Grid — Completed a $600,000 seed funding round.
The Grid provides open, independent, and auditable reference datasets to support Web3 directories and platforms. By standardizing and distributing accurate metadata about blockchain projects, assets, and companies, The Grid helps platforms better serve retail and institutional users while reducing compliance costs[18].

Airdrop Opportunities

EXIUM — EXIUM is a decentralized ecosystem centered on artificial intelligence, aiming to foster collaborative AI research and practical applications by integrating developers, enterprises, researchers, investors, and end-users. Its mission is to combine AI and blockchain technologies to create an open and decentralized platform that accelerates innovation, facilitates data sharing, and promotes cross-sector collaboration, delivering transformative AI solutions for humanity.

Focusing on applications in healthcare, financial tools, and enhancing human life, EXIUM has a total token supply of 9 billion, with allocations designed to support long-term ecosystem development and community engagement: 30% (2.7 billion) for public sale, 20% (1.8 billion) for liquidity provision, 10% (900 million) for the development team, 5% (450 million) for advisors and partnerships, 5% (450 million) for marketing and community engagement, 20% (1.8 billion) as reserve funding, and 10% (900 million) specifically to incentivize developer contributions. Through its token reward mechanism, EXIUM is attracting developers, researchers, and community members to actively participate in its ecosystem, increasing engagement and encouraging high-quality contributions to drive advancements in AI research and practical applications[19].

How to Participate:

1. Visit the EXIUM bot on Telegram.
2. Join the EXIUM Telegram channel, follow @EXIUMCOIN on X (formerly Twitter), and like their latest post.
3. Share your referral link to earn 50 EXIUM for each successful referral.
4. Participate in activities to claim additional rewards.

Note:
The airdrop program and participation methods are subject to change at any time. Users are advised to follow EXIUM’s official channels for the latest updates. Additionally, users should exercise caution, be mindful of risks, and conduct thorough research before participating. Gate.io does not guarantee the distribution of future airdrop rewards.


Reference:

1. Gate.io, https://www.gate.io/zh/price
2. Gate.io, https://www.gate.io/trade/BTC_USDT
3. Gate.io, https://www.gate.io/trade/ETH_USDT
4. Farside Investors，https://farside.co.uk/eth/
5. Coingecko，https://www.coingecko.com/en/trending-categories
6. TradingView，https://www.tradingview.com/markets/
7. TradingView，https://www.tradingview.com/symbols/XAUUSD/
8. Gate.io，https://www.gate.io/zh/bigdata/homeindex
9. Gate.io，https://www.gate.io/zh/trade/ARC_USDT
10. Gate.io，https://www.gate.io/zh/trade/GOUT_USDT
11. Gate.io，https://www.gate.io/zh/trade/LUNAI_USDT
12. Coingecko，https://www.coingecko.com/en/global-charts
13. Coinglass，https://www.coinglass.com/options
14. X，https://x.com/zingoofficial
15. Trtuthsocial，@realDonaldTrump/posts/113698639577293090"">https://truthsocial.com/@realDonaldTrump/posts/113698639577293090
16. Bio，https://docs.bio.xyz/bio/launchpad/launchpad-v1-wip
17. X，https://x.com/dydxfoundation/status/1871141099097686058
18. Rootdata，https://www.rootdata.com/Fundraising
19. X，https://x.com/EXIUMCOIN/status/1869092605763477982

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