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gate Research Institute: The Trump family is laying out Ethereum ecosystem assets, Aave protocol TVL hits a record high
Summary
Market Commentary
According to the market data from Gate.io, as of 4:00 on December 13th (UTC+0) [1]:
Popular Tokens
According to the market data of Gate.io, the 24-hour trading volume and price performance, the following popular altcoins are as follows:
AVA - a daily increase of about 261.8%, with a circulating market value of 145 million US dollars AVA is the core token of the Travala.com platform, supporting booking payments, special discounts, and reward redemption, aimed at enhancing user loyalty and token liquidity.
Recently, Travala.com announced that its annual revenue has exceeded $100 million and announced the adoption of a treasury reserve strategy with $AVA and $BTC, which has attracted market attention. In addition, a well-known figure in the cryptocurrency industry retweeted a tweet yesterday, emphasizing early investment and long-term support for Travala, further enhancing investor confidence. This series of positive news has driven the market's popularity to soar.
BLUE —— Single-day increase of about 39.5%, with a circulating market value of 58.89 million US dollars Bluefin is a decentralized spot and derivatives trading platform based on the Sui blockchain, supported by well-known institutions such as Polychain, SIG, and Brevan Howard. As the protocol with the largest trading volume on Sui, Bluefin has exceeded a total trading volume of over 39 billion USD since its launch in September 2023 and successfully completed the TGE of the BLUE token on December 11th.
Yesterday, Bluefin announced the launch of the staking function for the BLUE token, further enhancing on-chain trading capabilities and user participation. At the same time, the platform's total trading volume surpassed the milestone of 400 billion US dollars, attracting widespread market attention. Coupled with the support tweets from partners such as Pyth Network and Flow Traders, it further boosted investor confidence, potentially driving the price to nearly double in a single day since the opening.
VIRTUAL —— Single-day increase of about 48.0%, with a market capitalization of 21.1 billion US dollars The Virtuals Protocol is an artificial intelligence protocol that creates various artificial intelligence characters (which can react through text, voice, and actions) for different virtual worlds, such as games or online spaces. The Virtual Protocol provides incentives for the decentralized creation and monetization of artificial intelligence characters for every virtual interaction (game, metaverse, online interaction, or others).
Virtuals Protocol announced the launch of Agent Sandbox, a simulation experiment platform specifically designed for AI agents. The platform allows developers to have full control over the personality and goal setting of AI agents, and enhance their capabilities by creating custom functions. Developers can assign diverse tasks to AI agents, such as executing on-chain transactions, generating memes, and even controlling physical robots. This makes configuration very simple or may cause price increases.
Highlights Data
Weighted funding rate, long/short ratio of contracts, liquidation volume As of 4:00 on December 13th (UTC+0), according to Coinglass data, the Bitcoin holding-weighted funding rate is 0.0103%[12], and the Ethereum holding-weighted funding rate is 0.0099%[13]. Currently, the long/short ratio of both contract markets shows a strong bearish tendency, indicating that market participants hold a cautious or bearish attitude towards short-term trends. The relatively low funding rate may mean that the market is temporarily in a balanced state and the liquidity of both long and short sides has not fluctuated significantly.[14]
In the past 24 hours, the total amount of contract liquidation across the network is approximately 3.19 billion US dollars, with long liquidation exceeding 2.01 billion US dollars. The largest liquidation occurred in BTC, reaching 74 million USDT, with ETH at 58.51 million USDT.【15】
U.S. PPI and initial jobless claims data exceeded expectations, causing further declines in gold and silver prices. The probability of a 25 basis point rate cut in December is as high as 96.7%. Gold and silver prices continued to fall after US PPI and jobless claims data beat expectations, with silver losses extending rapidly and spot prices falling more than 2%. The PCE component is generally weak, and combined with yesterday's CPI data, core PCE is expected to edge up just 0.03% m/m. As a result, it is more likely that the Fed will continue to cut rates by 25 basis points next week. Meanwhile, initial jobless claims rose by 17,000 last week, the highest since October last year, while economists were expecting a decline of 4,000 to 220,000. According to the CME Fed Watch, there is a 96.7% chance that the Fed will cut interest rates by 25 basis points in December. 【16】
Aave Protocol TVL hits a new all-time high, but the coin price still has a 50% gap from ATH Recently, the total value locked (TVL) of the Aave protocol has surpassed $38.6 billion, reaching a new all-time high, exceeding the level during the bull market in October 2021. This growth is mainly attributed to the recent surge in deposit interest rates, with an estimated annual income of $1.17 billion. However, despite the strong performance of TVL, Aave's token price is still 50% below its all-time high.
On December 13th, BTC and ETH option expiration data indicates market adjustment, increasing short-term gaming opportunities The options delivery data on December 13th showed that the Bitcoin (BTC) options expiration volume was 21,000 contracts, with a Put Call Ratio of 0.83. The maximum pain point was $98,000, with a nominal value of $2.1 billion. The Ethereum (ETH) options expiration volume was 164,000 contracts, with a Put Call Ratio of 0.68. The maximum pain point was $3,700, with a nominal value of $640 million. This week, the market trend is mainly adjusting, but unlike last week, Bitcoin's adjustment is smaller while altcoins' adjustment is larger. As Christmas and annual delivery approaches, market makers are adjusting their positions, and recently, the trading volume of large bullish options has accounted for over 30%. The options market shows that market makers are becoming more cautious at this time. The sharp volatility has caused a slight increase in the implied volatility (IV) of major tenures, making options more cost-effective in short-term speculation.[18]
Hotspot Comments
Grayscale launches Optimism and Lido Trust Funds Grayscale Investments has launched two new trust products - Grayscale® Lido DAO Trust and Grayscale® Optimism Trust, focusing on the governance tokens LDO of Lido DAO and OP of the Optimism protocol respectively. These products aim to provide investors with exposure to key protocols in the Ethereum ecosystem, with Lido DAO providing liquidity staking to enhance the security of the Ethereum network, while Optimism reduces network congestion and transaction fees through layer-two scaling technology.
The launch of this product demonstrates the market's attention to the scalability of Ethereum and the prospects for decentralized finance (DeFi) development. Grayscale's launch brings new investment tools to the market and further enhances the attractiveness of the Ethereum ecosystem. The main difference between trusts and ETFs lies in the trading method and fees. Trusts are purchased over-the-counter with lower liquidity and usually have higher fees than ETFs; while ETFs are listed on exchanges, allowing real-time purchases with relatively higher liquidity and transparency. Due to the volatility of the cryptocurrency market, investors still need to exercise caution when dealing with these high-risk products. [19]
The Texas Republican Party has submitted a bill to establish a strategic reserve of Bitcoin On December 12, the Texas House of Representatives introduced a bill to establish a Bitcoin strategic reserve within the state treasury. The bill allows the state government to accept Bitcoin for payment of taxes, fees, and donations, and to store these Bitcoins for at least five years. The goal of Texas is to enhance financial stability through this initiative and position itself as a leader in Bitcoin innovation. Bitcoin advocacy groups supporting the bill stated that investing in Bitcoin will help combat inflation and provide a new form of asset reserve for the state government.
This proposal has sparked widespread discussion and may serve as a cornerstone for the future establishment of a national-level Bitcoin reserve by the US government. Although Texas has become one of the largest Bitcoin mining hubs in the United States, the initial version of this bill did not include a direct plan to purchase Bitcoin. The proposal has garnered close attention from the Bitcoin market and other state governments, with several states also considering similar legislation. While the actual impact of this strategic reserve plan remains to be seen, it undoubtedly provides a new perspective for future cryptocurrency policies, and may further stimulate innovation and market vitality in the cryptocurrency industry. [20]
The Trump family's encrypted project is stepping up its DeFi layout, increasing its holdings of ETH, AAVE, and LINK According to Arkham's data, the Trump family's cryptocurrency project World Liberty has significantly increased its cryptocurrency holdings in the past 48 hours, indicating confidence in the cryptocurrency market. The project purchased 2,631 ETH, worth approximately $10 million, and also increased its holdings of 4,043 AAVE and 78,387 LINK, worth $1.2467 million and $2 million, respectively. Currently, World Liberty holds approximately $56 million worth of ETH, $2.27 million worth of LINK, and $1.49 million worth of AAVE on the Ethereum chain, further consolidating its position in the cryptocurrency market. These transactions highlight World Liberty's active expansion of its cryptocurrency portfolio. AAVE and LINK, as important governance and liquidity provider tokens in the DeFi ecosystem, their growth also reflects the market's continued attention to decentralized finance. World Liberty's investment strategy indicates confidence in these areas, which may bring more investor attention and capital inflows to DeFi and ETH assets, thereby driving their prices higher.
Financing Information
According to RootData, in the past 24 hours, a total of 6 projects have announced financing, with the highest financing amount of 250 million US dollars and a total financing of over 279.6 million US dollars, involving Layer1, payment, DeFi, and RWA sectors. Here are the top three financing scales: [22]
Avalanche - The Avalanche Foundation announced that it has raised $250 million through a private token sale for its blockchain platform, with participation from Galaxy Digital, Dragonfly, ParaFi Capital, and over 40 other companies. Avalanche is a platform that supports the creation of custom blockchain networks and decentralized applications (DAPPs). Created by Ava Labs, it claims to achieve tremendous scalability with a throughput of up to 4,500 transactions per second (TPS). Its innovative consensus protocol, subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful customized blockchain solutions.
Waterfall Network - Waterfall Network has completed a $11.6 million financing round, with participation from Alpha Token Capital, EnFlux, and others. Waterfall is a Layer1 blockchain that aims to solve speed, security, and scalability issues while providing a truly decentralized governance platform. Waterfall's Directed Acyclic Graph (DAG) implementation allows it to run validator nodes from any device, including low-cost laptops and smartphones. Waterfall is 100% compatible with the Ethereum Virtual Machine (EVM), enabling the portability of decentralized applications (dApps), and has very low hardware requirements for participants to become validators.
Sphere - Sphere has completed a $5 million strategic financing round, with participation from Coinbase Ventures, Kraken Ventures, and others. Sphere is a payment infrastructure that helps merchants from underdeveloped emerging markets achieve cost-effective, secure, and near-instant cross-border payments using stablecoins. Through an attractive and accessible graphical user interface (GUI), Sphere coordinates blockchain, custodial infrastructure, and financial service providers to facilitate stablecoin payments.
AgriDex - AgriDex has completed a $4 million strategic financing, led by Portal Ventures, with participation from Endeavour Ventures, Hawkwood Capital, and others. AgriDex is an RWA market based on Solana, reshaping the global agriculture industry. It provides a transparent and integrated market for participants in the agricultural industry, with its own internal economy. Using on-chain fiat, smart contracts, and participatory audits, AgriDex offers fully compliant and simplified solutions for agricultural supply chain management.
Airdrop Opportunity
Moonveil is a Web3 game company founded by the former core team of Riot Games, dedicated to building a game blockchain and ecosystem based on Polygon zkEVM technology. In August of this year, Moonveil raised a total of $9 million in two rounds of financing led by Spartan and Gumi. Its first game, AstrArk, has attracted over 870,000 users to participate in testing and has demonstrated sustainable development potential.
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Reference:
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