Preface:
In the past 24 hours, Bitcoin and Ethereum have seen declines of 2.22% and 2.59%, respectively, with current prices at $95,573 and $3,626. The ETH/BTC ratio remains stable at 0.038. Meanwhile, the Crypto Fear & Greed Index stands at 80, indicating a state of extreme greed.

Market Trending

Yesterday, BTC experienced a rise followed by a sharp correction. After attempting to break through $96,000 and hitting a high of $98,120, it faced a steep pullback to a low of $94,500 before stabilizing within the $95,000–$96,000 range, narrowing its 24-hour loss to 2.22%.
Altcoins saw significant movement, with XRP leading a rally among legacy tokens. ADA, KAIA, LINK, VET, and IOTA all posted gains exceeding 25%. As high-market-cap altcoins gain traction, BTC dominance has dropped to 54.86%, suggesting the potential start of a new altcoin season.

• Public Chain Sector: XRP has maintained its strong momentum, reaching a new high since 2018 and approaching $2.9. Its market capitalization has surpassed USDT, placing it third overall. Meanwhile, SOL has weakened, dropping below $225 due to ongoing sell-offs from its on-chain meme launch platform, Pump.fun.
• DeFi Sector: Relaxed regulatory policies have triggered a broad rally, with major DeFi tokens rising by over 10%. UNI surged past $14, while lending tokens like AAVE and MKR saw modest gains.
• Meme Tokens: The meme token market experienced a general pullback, except for Solana-based MOODENGDOGE, which surged on specific bullish news.

Spot Bitcoin ETF Flows

Yesterday, U.S. Bitcoin spot ETFs saw a net inflow of $353 million. Among them, IBIT accounted for $338 million, FBTC contributed $25.14 million, while GBTC recorded a net outflow of $28.11 million.
Check Out the Latest Prices, Charts, and Data of BTC/USDT Spot and BTCUSDT Perp!

Daily Spotlight

Today’s spotlight is XRP, with a 24-hour increase of 17.62%.
Created in 2012 by Ripple Labs, XRP powers a global cross-border payment network based on distributed ledger technology. Designed to facilitate secure, instant, and nearly fee-free transactions of any scale, XRP serves as the native token of Ripple’s ecosystem. With a fixed supply of 100 billion tokens, XRP is gradually reduced through transactions and is widely used for cross-border payments and currency conversions, while also being freely tradable in the market.
Ripple’s legal victory against the SEC and subsequent ETF applications by major asset managers have prompted a revaluation of XRP, pushing its price to new highs not seen since 2018. Its market capitalization has now surpassed USDT, making XRP the third-largest cryptocurrency.
Check Out the Latest Prices, Charts, and Data of XRP/USDT Spot and XRPUSDT Perp!

The Word on the Street

Retail Trading Surge in South Korea
A recent report by 10X Research highlights significant shifts in trading activity since Donald Trump’s re-election. With seven weeks until the inauguration, early appointments signal a pro-crypto U.S. administration, which is expected to foster a more favorable regulatory environment and expand trading opportunities.
Other governments, notably South Korea, are also taking a more supportive stance on cryptocurrencies. As the U.S. leads in relaxing or shaping crypto regulations, a global wave of crypto-friendliness is anticipated.
In the past 24 hours, South Korea’s crypto market, dominated by retail trading, saw volumes surge to $18 billion, marking the second-highest level this year and surpassing the $14 billion traded on local stock exchanges. XRP led the pack with $6.3 billion in trading volume, followed by DOGE ($1.6 billion), XLM ($1.3 billion), ENS ($900 million), HBAR ($800 million), and SHIB ($600 million).

Airdrop Claiming

On December 2, Magic Eden co-founder and CEO Jack Lu announced on X that eligibility and distribution details for the ME token airdrop would be available starting December 4. The ME token will undergo its TGE on December 10.