Preface
Bitcoin and Ethereum have both experienced slight declines in the last 24 hours, down 1.01% and 0.11% respectively, with current prices standing at $99,080 and $3,472. The ETH/BTC exchange rate is at 0.035. The Fear & Greed Index is at 79, signaling “Extreme Greed” in the market.

Market Trending

Yesterday, the market entered a consolidation phase, with Bitcoin experiencing a rise followed by a drop, fluctuating between the $98,500 and $99,500 range. The DeSci and AI Agent sectors continue to capture market attention and liquidity, while other mainstream altcoins showed slight declines, falling by around 3%. Several crypto exchanges have reported significant growth in over-the-counter (OTC) trading volumes in recent months, with election results being a key driving factor. Since the elections, crypto market volumes have surged significantly. As Bitcoin, Ethereum, and altcoin prices rise, both projects and investors are increasingly motivated to manage their funds and risks at these levels, while also seeking new opportunities in crypto assets beyond BTC and ETH.
DeFi Sector:
Mainstream tokens like UNI, AAVE, OM, and COMP have all underperformed, falling more than the market average. With Ethereum’s recent weakness, the DeFi sector’s hype has started to cool down.
DeSci Sector:
BIO announced an airdrop for URO and RIF holders, continuing the hot trend in the DeSci sector. Tokens like RIF and URO saw price increases of over 20%.
Meme Sector:
The market heat is concentrated in AI Meme tokens, with AI16Z ecosystem tokens, PHA, AIXBT, and others seeing gains of over 10%. Other mainstream meme tokens have experienced slight declines following the market trend.

Spot Bitcoin ETF Flows

Yesterday, the US Bitcoin Spot ETFs saw a net outflow of $338.38 million, with IBIT experiencing a net outflow of $188.71 million and FBTC seeing a net outflow of $83.16 million.
Check Out the Latest Prices, Charts, and Data of BTC/USDT Spot and BTCUSDT Perp!

Daily Spotlight

Today’s spotlight is PENGU, with a 24-hour price increase of 15.02%.
Pudgy Penguins is an NFT project launched in 2021, consisting of 8,888 unique hand-drawn cartoon penguin images. With its cute visual style and positive community culture, it quickly gained prominence during the NFT craze. The project has been featured in major media outlets like The New York Times and CNBC, and has become a significant symbol in internet culture, with over 50 billion views across global social media platforms, attracting millions of loyal fans.
PENGU is the native token launched by Pudgy Penguins, with a total supply of 88,888,888,888 tokens. Of this total supply, 46.25% is allocated for airdrops, with 100% of the tokens released at TGE (Token Generation Event) and no lock-up period. These tokens are intended for community promotion and user incentives. Yesterday, PENGU surpassed $0.04, with a 24-hour increase of 15.02%.
Check Out the Latest Prices, Charts, and Data of PENGU/USDT Spot and PENGUUSDT Perp!

The Word on the Street

Report: Surge in OTC Trading Volumes, Driven by Election Results Multiple crypto exchanges have reported a sharp increase in OTC trading volumes in recent months, with election results playing a significant role as a driving force. Kraken’s Head of Institutional Business, Tim Ogilvie, mentioned, “OTC trading is exceptionally active right now, with volumes skyrocketing alongside rising prices.” He revealed that Kraken’s OTC volumes have surged by 220% year-over-year, with similar increases reported by other exchanges.
Market maker Wintermute’s OTC trader, Jake Ostrovskis, pointed out that while the market was relatively calm earlier in the year, as the election approached, prices started to rise, and market participants began preparing for the election outcome.
A trader from an OTC firm privately stated that recent trading volumes have already reached levels comparable to the 2021 peak in the crypto market. Additionally, Brett Reeves, Head of Go Network at crypto custody firm BitGo, noted that election results were the primary driver behind the recent surge in trading volume, with two-thirds of the volume generated in the three months following the election outcome.

Project Airdrops

Pump Science announced on the X platform that its tokenomics design has been completed, and 5% of future token supply will be allocated to previous token holders (during migration). Holding more PS tokens (RIF, URO) now will grant access to future tokens. This will be an ongoing process with new products launched.
Pump Science also mentioned that BIO Protocol will airdrop BIO tokens to URO and RIF holders, pending governance approval to link BIO to Solana. More airdrops are being considered.