Preface:
Bitcoin dropped by 3.54% in the past 24 hours, while Ethereum rose by 3.01%, with their current prices at $94,029 and $3,438, respectively. The ETH/BTC exchange rate has rebounded to 0.037. The Crypto Fear & Greed Index stands at 79, reflecting extreme greed in the market.

Market Trending

Yesterday, Bitcoin faced a sharp correction after multiple failed attempts to break the $100,000 resistance, briefly dipping below $93,000 before recovering to around $94,000, gearing up for another rally. Meanwhile, Ethereum, which had been lagging, displayed robust performance, reaching a high of $3,545, triggering minor altcoin fluctuations. The current bull market aligns with previous cycle patterns, as investors anticipate an altcoin season following successive surges in BTC and ETH.

• Public Chains: SUI mirrored BTC’s retracement, while SOL fell below $240, affected by recent controversies surrounding the on-chain meme launch platform Pump.fun. In contrast, ETH displayed strength, pushing the ETH/BTC exchange rate to 0.037, a recent high. Additionally, Ethereum regained dominance over USDT supply on its blockchain, surpassing Tron for the first time since 2022.
• Meme Coins: This segment underperformed, with previously hyped PNUT reversing its gains, and classic meme coins DOGE, SHIB, and WIF all experiencing declines of around 5%.
• Layer 2 Tokens: Boosted by ETH’s performance, ETH L2 ecosystem tokens surged, with ARB and OP climbing 15% across the board.
• DeFi Tokens: This sector also rallied, with established tokens such as UNI breaching $11, CRV reaching a 6-month high at $0.57, and AAVE spiking by 10% to surpass $180, influenced by Justin Sun’s purchase of Trump family-backed crypto project WLFI. Among newer projects, PUFFER gained over 60% in a single day, crossing $0.46 following favorable news.

Spot Bitcoin ETF Flows

Yesterday, the US Bitcoin spot ETFs saw a net outflow of $435 million, marking the first net outflow in the past five days. Among them, IBIT saw a net inflow of $267.8 million, BITB had a net outflow of $280.7 million, and GBTC experienced a net outflow of $158.2 million.
Check Out the Latest Prices, Charts, and Data of BTC/USDT Spot and BTCUSDT Perp!

Daily Spotlight

Today’s spotlight is PUFFER, with a 24-hour price increase of 48.9%.
Puffer Finance (PUFFER), established in 2022, is a native liquidity restaking protocol built on EigenLayer. It aims to enhance Ethereum’s Proof-of-Stake (PoS) performance and diversity. By staking as little as 1 ETH, users can become validators, improving accessibility and decentralization for native restaking. Participants earn pufETH, the platform’s native token, through Ethereum’s PoS and restaking mechanisms, maximizing rewards via advanced slashing and capital efficiency strategies. PUFFER’s recent listing on a Korean exchange spurred a sharp price increase, reaching $0.46 with a single-day gain exceeding 60%.
Check Out the Latest Prices, Charts, and Data of PUFFER/USDT Spot and PUFFERUSDT Perp!

The Word on the Street

Maya Parbhoe, a presidential candidate from Suriname, has announced plans to adopt Bitcoin as legal tender if elected.
Maya Parbhoe, also the CEO of Bitcoin and NOSTR-based service company Daedalus Labs, envisions a nation deeply integrated with cryptocurrency. Her bold proposal includes combating corruption and providing tangible benefits to citizens by implementing a Bitcoin Standard. Should she win the 2025 election, her administration plans to replace the Surinamese dollar with satoshis (the smallest Bitcoin unit) and ensure salaries are paid in BTC within the first year.

Project Airdrop

The Movement Network Foundation has released the tokenomics for its MOVE token.
On November 26, Movement Network, a Move-based infrastructure, unveiled its tokenomics for MOVE, with a total supply of 10 billion and an initial circulating supply of 22%. The distribution breakdown is as follows:

• Ecosystem and Community: 40%
• Initial Claims: 10%
• Foundation: 10%
• Early Contributors: 17.5%
• Early Investors: 22.5%

MOVE token holders can migrate assets across chains, and MOVE serves as the gas fee token for the Movement Network. Its applications include staking for economic security, governance, and facilitating decentralization.