TL;DR

• The price of BTC rose by 2.85% in the past 24 hours, with the current price reaching $104,615.7, continuously setting new ATH.
• Ethereum ETFs saw a net inflow of $855 million last week, setting a new record for weekly inflows.
• The Hyperliquid network’s TVL (Total Value Locked) reached $4.401 billion, surpassing the Base network.
• Pump.fun has accumulated over $300 million in revenue, with a total token issuance of approximately 4.67 million.
• The FASB’s fair value accounting rules have come into effect, accelerating the arrival of the era of corporate Bitcoin reserves.
• DWF Labs, in collaboration with the Abu Dhabi Blockchain Center, is driving the development of the Web3 ecosystem in the MENA region.

Market Analysis

According to Gate.io market data, as of 4:00 AM UTC on December 16[1]:

• BTC — The price of BTC has risen by 2.85% in the past 24 hours, with the current price at $104,615.7. The highest price in the last 24 hours was $106,609.9, and the lowest was $98,071.4. BTC has continuously set new ATH, with no significant historical resistance levels above. Support can be referenced at the weekend’s pullback lows of $100,610 and around $99,212. As long as these levels are not breached, the market is likely to maintain its bullish trend[2].

• ETH — The price of ETH has risen by 2.39% in the past 24 hours, with the current price at $3,967.53. The highest price in the last 24 hours was $4,023.68, and the lowest was $3,695.52. Short-term resistance can be referenced at the recent high of $4,086, as well as the March high of $4,091.51. If ETH can break through these levels, it may test the historical high of around $4,866. If it faces resistance and falls back, it will continue to test the support at the weekend’s pullback low of around $3,825.67[3].

• ETF — According to SoSoValue data, on December 13, the total net inflow into U.S. Bitcoin spot ETFs was $429 million[4], while the total net inflow into U.S. Ethereum spot ETFs was $23.61 million[5].
• Altcoins — The AI Agent Launchpad, RWA Protocol, and Bitcoin Sidechains sectors saw changes of +8.2%, +7.3%, and +7.0%, respectively[6].
• U.S. Stock Indices — The S&P 500 Index rose by 0.01%, the Dow Jones Index fell by 0.20%, and the Nasdaq Index increased by 0.76%[7].
• Spot Gold — The price of spot gold reached $2,650.31 per ounce, with a daily gain of 0.06%[8].
• Fear & Greed Index — The Fear & Greed Index is at 83, indicating that the market is in an extreme greed phase[9].

Top Performers

According to Gate.io market data[10], combined with the trading volume and price performance over the past 24 hours, the top-performing altcoins are as follows:

GOUT (GOUT) — The price increased by approximately 66.61% in a single day, with a circulating market capitalization of $103 million. GOUT is transforming from an emotion-driven MEME coin into an infrastructure supporting MEME projects. Through decentralized governance and ecological innovation, it aims to drive breakthroughs and prosperity within the MEME sector[11].

Recently, the GOUT PUMP independently developed task platform was officially launched. This platform introduces a new model with an innovative system standard, attracting significant user participation and attention. The core appeal of the platform is that users can earn token airdrop rewards by completing system tasks. This incentive mechanism not only enhances GOUT’s market exposure but also accelerates the circulation and application of the token,serving as a key catalyst for driving up GOUT’s price.

COW (CoW Protocol) — The price increased by approximately 54.15% in a single day, with a circulating market capitalization of $283 million. COW is an innovative decentralized trading protocol that addresses the high costs and security issues in current DeFi transactions through batch trading, order aggregation, and front-running protection mechanisms[12].

Recently, CoW Protocol announced its launch on the Base network, attracting more users and trading volume. Additionally, a reward campaign offering 10,000 COW tokens was launched, incentivizing users to trade on the Base network through simple participation rules. This initiative quickly boosted community engagement and market demand.

VVAIFU (Dasha) — The price increased by approximately 26.60% in a single day, with a circulating market capitalization of $92.43 million. VVAIFU is an AI agent platform that enables users to create their own AI tokens without any programming and has integrated ai16z’s Eliza framework[13].

The main reason for the recent price increase of VVAIFU is its platform’s versatility and innovative positioning, which has attracted market attention. VVAIFU is dedicated to becoming a “one-stop platform” for AI agent creators and traders, integrating both current and future frameworks and tools. Moreover, VVAIFU offers aggregation services for external agents and provides more advanced creation and trading tools. This diverse functionality and open ecosystem have not only raised market expectations but also attracted more developers and traders, further boosting market demand and driving the token price higher.

Data Highlights

Ethereum ETFs saw a net inflow of $855 million last week, setting a new record for weekly inflows
According to SoSoValue data, U.S. Ethereum spot ETFs experienced a net inflow of $855 million from December 9 to December 13, setting a new historical high. Among them, BlackRock’s ETHA led with a net inflow of $523 million, followed by Fidelity’s FETH with a net inflow of $259 million. In contrast, Grayscale’s ETHE saw a net outflow of funds. Currently, the total value of Ethereum managed by ETFs is $13.78 billion, accounting for 2.94% of Ethereum’s total market capitalization. Ethereum ETFs have seen a continuous net inflow for 15 days[14].

Hyperliquid Network’s TVL reaches $4.401 billion, surpassing Base Network
Hyperliquid is a high-performance Layer 1 blockchain designed specifically for traders, aiming to create a perpetual contract trading platform that combines the efficiency of centralized exchanges with the transparency and security of decentralized exchanges. Co-founder Jeff, a former quantitative trader, was inspired by the collapse of FTX and decided to create a truly decentralized and secure trading platform, leading to the creation of Hyperliquid, which provides users with a transparent and open trading environment.

As an emerging protocol, Hyperliquid has experienced rapid growth recently. Its Total Value Locked (TVL) surged by $1.87 billion in the past 7 days, reaching $4.401 billion, surpassing Base Network (which has $4.062 billion). It is currently ranked sixth, with an impressive daily growth rate of 28.93%. Hyperliquid has made its mark with just three protocols, indicating significant market demand for its platform[15].

Pump.fun’s cumulative revenue exceeds $300 million, with a total of approximately 4.67 million tokens issued
Pump.fun platform has achieved remarkable success, with a total cumulative revenue of $311 million and the launch of 4.67 million tokens, demonstrating its active presence and appeal in the crypto market. Pump.fun focuses on facilitating the creation and trading of Meme tokens through a lightweight, quick-start approach, lowering the barriers to entry. This enables both ordinary users and project teams to participate in the market efficiently[16].

Spotlight Analysis

Trump supports cryptocurrency strategic reserves
Former U.S. President Donald Trump recently expressed a positive stance on cryptocurrency in an interview with CNBC. He proposed establishing a Bitcoin strategic reserve similar to its oil reserves, emphasizing that the U.S. should take a leading role in the cryptocurrency space. Trump’s comments reflect the increasing strategic importance of digital assets in the U.S., signaling that the country could potentially make cryptocurrency an essential part of its national economic and financial system[17].

Trump’s remarks highlight his strong focus on emerging technologies like cryptocurrency, aligning with the global trend toward a digital economy. If the U.S. follows through with a Bitcoin strategic reserve, it would not only increase the legitimacy of crypto assets but also boost market confidence in Bitcoin and other digital assets.

FASB fair value accounting rules take effect, accelerating the era of corporate Bitcoin reserves
The FASB (Financial Accounting Standards Board) has implemented new fair value accounting rules for Bitcoin. Under these new rules, companies are allowed to report Bitcoin on their financial statements at market fair value, rather than just recording it at its purchase price. This change in accounting standards is significant for corporate Bitcoin adoption, as businesses can now reflect the actual market value and fluctuating gains of their Bitcoin holdings, rather than being confined to conservative loss-based accounting[18].

The implementation of this rule will effectively eliminate distortions in financial statements when companies hold Bitcoin assets, helping to build greater confidence in Bitcoin as a reserve asset. Early adopters like MicroStrategy will particularly benefit, as their Bitcoin holdings will now be more transparently reflected in their financial performance.

DWF Labs partners with Abu Dhabi Blockchain Center to promote Web3 ecosystem development in the MENA region
DWF Labs has signed a strategic Memorandum of Understanding (MOU) with the Abu Dhabi Blockchain Center, committing to the development of the Web3 ecosystem in the Middle East and North Africa (MENA) region. This partnership marks DWF Labs’ deeper involvement in the region, with both parties working together to support incubator projects, ecosystem funding, and strategic consulting services aimed at providing assistance to early-stage crypto projects and driving sustainable growth. Additionally, DWF Labs will leverage its global network to help Web3 projects form key partnerships and enhance the local adoption and application of crypto technologies[19].

Abu Dhabi has rapidly emerged as a global blockchain innovation hub, and this collaboration further strengthens the region’s strategic position in the Web3 space. DWF Labs not only provides market liquidity support but also helps entrepreneurs and developers grow through resource allocation, technical incubation, and policy advocacy.

Funding News

According to RootData, from December 13 to December 16, 2024, a total of six projects announced funding rounds, raising over $18.3 million, with the highest single funding round reaching $10 million. These projects span various sectors such as DePIN, infrastructure, and DeFi. Below are details of some of the funded projects[20]:

Glacier Network — Glacier Network completed a $4.2 million public sale round, with investments from ForesightX, UOB Venture Management, and others. Glacier Network is an innovative company focused on building data-driven blockchain infrastructure. Its goal is to support large-scale AI applications through modular and programmable solutions[21].

Yei Finance — Yei Finance completed a $2 million seed round, with investments from Manifold, DWF Ventures, and others. Yei Finance aims to create a scalable and efficient decentralized lending ecosystem, providing users with a more flexible and secure lending experience while promoting the adoption and development of DeFi[22].

MegaETH — MegaETH completed a $10 million funding round on the angel investor platform Echo. MegaETH is a performance-optimized Ethereum Layer 2 project focused on achieving ultra-high throughput and low-latency blockchain technology, with the goal of providing a user experience comparable to Web2 applications[23].

Airdrop Opportunities

Perena

Perena is an infrastructure protocol focused on the management and integration of the stablecoin market, aimed at the Solana ecosystem. It is dedicated to solving the liquidity fragmentation issues in the current stablecoin market and provides an efficient and flexible multi-asset stablecoin exchange platform. On December 11, Perena completed a pre-seed funding round, raising approximately $3 million. Perena has partnered with several DeFi protocols and is currently in its early stages, with strong growth potential[24].

At present, the project is still in its early phase and only offers two functions: Swap and Pool. By conducting trades between stablecoins and creating LPs, users can earn Petal Points, potentially redeemable for future airdrops.

How to Participate:

1. Visit the Perena.org website and connect your wallet.
2. Enter a referral code to receive 100 Petals.
3. Each transaction earns 0.1 Petal per dollar, with a transaction limit of 50 Petals per trade, and a maximum of 10 trades per day.
4. Maintain a daily balance of over $100 to earn Petals.
5. For every friend you refer, you will earn 100 Petals. For every additional 1,000 Petals, you will receive an extra invitation code.

Note:
The airdrop plan and participation methods may be updated at any time. Users are advised to follow Perena’s official channels for the latest information. Additionally, users should exercise caution and carefully research before participating. Gate Research does not guarantee the issuance of future airdrop rewards.


Reference：

1. Gate.io, https://www.gate.io/price
2. Gate.io, https://www.gate.io/trade/BTC_USDT
3. Gate.io, https://www.gate.io/trade/ETH_USDT
4. SoSoValue, https://sosovalue.xyz/assets/etf/us-btc-spot
5. SoSoValue, https://sosovalue.xyz/assets/etf/us-eth-spot
6. CoinGecko, https://www.coingecko.com/en/categories
7. Investing, https://investing.com/indices/usa-indices
8. Investing, https://investing.com/currencies/xau-usd
9. Gate.io, https://www.gate.io/bigdata/homeindex
10. Gate.io, https://www.gate.io/price
11. X, https://x.com/GOUTCoin/status/1868172792988119109
12. X, https://x.com/CoWSwap/status/1867550035233452227
13. X, https://x.com/vvaifudotfun/status/1868097733870940346
14. SoSoValue, https://sosovalue.xyz/assets/etf/us-eth-spot
15. Defillama, https://defillama.com/chains
16. Dune, https://dune.com/adam_tehc/pumpfun
17. X, https://x.com/RedWave_Press/status/1867223040431702519
18. X, https://x.com/pete_rizzo_/status/1868446105366577599
19. DWF LABS, https://www.dwf-labs.com/news/487-dwf-labs-partners-with-the-blockchain-center-abu-dhabi-to-strengthen-web3-ecosystem-in-mena-region
20. Rootdata, https://www.rootdata.com/Fundraising
21. X, https://x.com/Glacier_Labs/status/1867768214606033284
22. Medium, https://medium.com/
23. The Block, https://www.theblock.co/post/330804/megaeth-funding-cobie-echo?utm_source=twitter&utm_medium=social
24. Perena, https://perena.org/numeraire/swap

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