TL;DR

• Bitcoin spot ETF total net inflow reaches $377 million, and Ethereum spot ETF total net inflow reaches $83.76 million.
• Altcoin season may have arrived, with the market share of cryptocurrencies excluding Bitcoin and Ethereum rising to 33%.
• Total value locked (TVL) in liquid staking protocols hits $70.9 billion, with Lido dominating the market.
• Over the weekend, sectors like cat-themed, privacy coins, and the boy’s club saw respective changes of +7.0%, +6.2%, and +4.2%.
• Trump: No plans to replace Federal Reserve Chair Jerome Powell, and the probability of a Fed rate cut in December exceeds 83%.
• Interlace secures $10 million in Series B1 funding, with investments from Bitrock Capital, Robinhood, and others.

Market Analysis

According to Gate.io market data, as of 00:00 UTC on December 9[1]:

• BTC — The price of BTC has increased by 0.54% in the past 24 hours, currently priced at $100,745.6. The highest price during the past 24 hours was $100,686.7, and the lowest was $98,649.1. BTC’s price has been fluctuating within a narrow range around $100,000, with the market currently in a critical phase of balance between bullish and bearish forces. On December 8, the price dropped to the short-term support level of $98,650, but quickly rebounded. However, the overall trading volume has been relatively low, limiting the strength of the rebound[2].

• ETH — The price of ETH has decreased by 0.05% in the past 24 hours, currently priced at $3,997.62. The highest price during the past 24 hours was $4,014.75, and the lowest was $3,924.24. ETH has pulled back from its short-term high of $4,086 and is currently fluctuating within a narrow range between $3,930 and $4,020. On December 8, the price briefly dropped below $3,950 but quickly rebounded, indicating that bullish forces are still at play in the market. In the short term, attention should be paid to the stability of the $3,930 support level and whether the $4,030 resistance level can be overcome. If a breakout with increased volume occurs, it could lead to further upward movement[3].

• ETF — According to SosoValue data, on December 6, the total net inflow into the U.S. Bitcoin Spot ETF was $377 million[4], while the total net inflow into the U.S. Ethereum Spot ETF was $83.76 million[5].
• Altcoins — Sectors like Cat-Themed, Privacy Coins, and the Boy’s Club saw respective changes of +7.0%, +6.2%, and +4.2%[6].
• U.S. Stock Market Indices — The S&P 500 index rose by 0.25%, the Dow Jones index dropped by 0.28%, and the Nasdaq index increased by 0.92%[7].
• Spot Gold — The price of spot gold reached $2,635.31 per ounce, with a daily increase of 0.09%[8].
• Fear & Greed Index — The Fear & Greed Index stands at 78, indicating that the market is in an extreme greed state[9].

Top Performers

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

DFI (DeFiChain) — The price increased by approximately 200.51% in a single day, with a circulating market cap of $56.59 million.
DeFiChain is a blockchain designed for decentralized finance (DeFi) applications. It offers high transaction throughput and reduces the risk of errors[11].
Recently, DeFiChain Labs released a technical synchronization update, showcasing progress in the team’s technical development and boosting investor confidence. In addition, the dynamic growth of new projects within the ecosystem and the SIG setup guidelines further demonstrate the continuous expansion and development potential of the DeFiChain ecosystem. These updates collectively strengthened market confidence in DFI, attracting more funds and users, and driving the price upward.

IDEX (IDEX) — The price increased by approximately 63.21% in a single day, with a circulating market cap of $91.95 million.
IDEX is a decentralized exchange (DEX) based on Ethereum’s smart contracts, established by Aurora DAO, which supports real-time trading and the execution of multiple trades in a single transaction.
The recent price surge in IDEX may be attributed to its announcement of the “Buy & Lock” protocol liquidity plan. According to the plan, 100% of the fees will be reinvested and locked, with 50% used to buy back $IDEX tokens, creating continuous buying support. The other half will be paired with the repurchased $IDEX to enhance on-chain liquidity. This strategy has not only increased market confidence in IDEX but also driven the token’s price upward[12].

SUPRA (SUPRA) — The price increased by approximately 46.36% in a single day, with a circulating market cap of $349 million.
SUPRA is a decentralized oracle network designed to provide secure, reliable, and fast data transmission solutions between blockchains and traditional systems, leveraging highly secure and scalable smart contract interoperability.
The recent price surge in SUPRA may be related to the announcement of the launch of the MoveVM Layer 1 mainnet, a significant milestone in its development vision. This mainnet is the world’s first fully vertically integrated “all-in-one” blockchain. Through its new IntraLayer technology, SUPRA addresses cross-chain and cross-system interoperability issues. This innovative technological framework has attracted the attention of investors and the community. Over the next few months, SUPRA will also release more key products and features, and these strong market expectations have further boosted investor confidence and the price increase[13].

Data Highlights

Bitcoin ETF Sees $377 Million Net Inflow Yesterday
According to SosoValue data, on December 6, the U.S. Bitcoin Spot ETF saw a net inflow of $377 million in a single day, with a total daily trading volume of $4.08 billion. The cumulative net inflow into the ETF stands at $33.43 billion, and the total value of BTC managed by the ETF is $112.74 billion, accounting for 5.62% of Bitcoin’s total market cap. The Bitcoin ETF has seen net inflows for 7 consecutive days[14].

Ethereum ETF Sees $83.76 Million Net Inflow Yesterday
According to SosoValue data, on December 6, the U.S. Ethereum Spot ETF saw a net inflow of $83.76 million in a single day, with a total daily trading volume of $992 million. The cumulative net inflow into the ETF stands at $1.41 billion, and the total value of ETH managed by the ETF is $13.36 billion, accounting for 2.74% of Ethereum’s total market cap. The Ethereum ETF has seen net inflows for 10 consecutive days[15].

Weighted Funding Rate, Long/Short Ratio, and Liquidations
As of 00:00 UTC on December 9, according to CoinGlass data, the weighted funding rate for Bitcoin positions is 0.0262%[16], showing relatively stable short-term fluctuations. The weighted funding rate for Ethereum positions is 0.0244%[17].
In the past 24 hours, the total liquidation amount across all contracts was approximately $298 million. Among these, long positions accounted for $227 million in liquidations, while short positions accounted for $71.04 million[18].

Altcoin Season May Have Arrived, Market Share of Tokens Other Than Bitcoin and Ethereum Exceeds 30%
Bitcoin continues to dominate the market share, but other tokens have recently exhibited a significant upward trend. Although Bitcoin’s market dominance has slightly decreased, it still accounts for 53.8%. Ethereum’s market share has gradually decreased to 13.1%, while the market share of other altcoins has risen from 28% on November 1 to 33.1% on December 9[19].
This marks the initial formation of an “altcoin season,” with increasing amounts of capital flowing into the altcoin space, driving their prices higher. While the dominance of Bitcoin and Ethereum remains strong, the rise of altcoins reflects a trend toward diversification in the market. This may present more opportunities for investors and indicates that the overall activity and innovation within the cryptocurrency market continue to grow.

Total Value Locked (TVL) in Liquid Staking Protocols Reaches $70.9 Billion, with Lido in a Dominant Position
The total TVL in liquid staking protocols has reached approximately $70.9 billion. Since 2024, despite some fluctuations, the liquid staking market has shown a significant upward trend overall. Among specific protocols, Lido holds an absolute leading position with a TVL of $39.12 billion, accounting for about 55% of the total TVL. In the past 24 hours, Lido generated transaction fees of $3.47 million, with revenues around $346,000[20]. As Ethereum and other PoS (Proof-of-Stake) networks continue to expand, liquid staking, as an important part of the DeFi ecosystem, is expected to attract more capital and users to participate.

Spotlight Analysis

DEXX: 80% of Daily Platform Revenue Allocated for User Compensation, with Debt-to-Equity Compensation Offered
In November 2024, the DEXX platform suffered a cyberattack, resulting in the theft of approximately 32,969 SOL, 634.56 ETH, and 204.69 BNB, along with other assets, affecting 12,413 addresses. The platform quickly took action, working with security teams and law enforcement to track down the IP addresses and devices linked to the hackers, though key evidence to confirm the suspects’ identities was still lacking.
To mitigate user losses, DEXX introduced a detailed compensation plan, which includes using 80% of its daily revenue for compensation, offering debt-to-equity conversion, and distributing token airdrops as rewards. Meanwhile, the platform continues to track the hacker’s wallet in efforts to recover the stolen assets. The platform is also actively seeking funding to support its compensation plan and future operations.
On the security front, DEXX has fully upgraded its security system, implementing a zero-trust architecture, optimizing its wallet module, and planning to launch self-custody wallets and multi-party computation (MPC) solutions to strengthen asset protection. This incident highlights the importance of security in blockchain and offers valuable insights for the industry to improve its crisis response strategies[21].

Cryptocurrency Payments Gain Momentum,See Increasing Acceptance in Salaries and Loans
A survey conducted by Clarify Capital shows that both business owners and employees are increasingly open to integrating cryptocurrencies into salary payments and loans. The survey results indicate that 25% of business owners have a positive attitude toward crypto-based loans, with the younger generation being particularly supportive. Meanwhile, 30% of employees expressed a willingness to accept cryptocurrency as part of their salary payment, with Bitcoin and Ethereum being the most preferred options. Additionally, the construction industry has also shown potential for cryptocurrency payments, with 20% of contractors already accepting crypto payments, and 65% of contractors being open to this method.
While there are generational differences in the acceptance of crypto payments, this trend highlights that, with the growing popularity of technology and financial innovations, the use of cryptocurrencies in business is gradually transitioning from an experimental phase to mainstream adoption.
Cryptocurrency payments are gaining more attention due to their privacy, security, and independence from traditional banking systems. However, they also face challenges such as price volatility and regulatory issues. In the future, as stablecoins and related technologies mature, this trend could further drive transformation in traditional finance[22].

Trump: No Plans to Remove Federal Reserve Chair Powell, 83% Chance of Rate Cut in December
Trump has sparked discussions about whether he would intervene in Federal Reserve policy due to his promises to implement mass deportations, impose tariffs, and cut taxes. Recently, Federal Reserve Chair Jerome Powell stated that the election results would not impact short-term monetary policy, and emphasized that the president does not have the authority to dismiss a chairperson approved by the Senate. He reiterated that the Fed would maintain a neutral policy stance to support economic growth and a stable labor market.
In an interview with NBC, Trump publicly expressed his support for Powell, stating that he currently has no plans to remove him. This provided some reassurance to investors concerned about policy uncertainty. However, Trump’s past attitude toward Powell has been inconsistent; he has criticized Powell’s interest rate hikes multiple times but also praised his decision to cut rates to near zero during the pandemic. For the market, this continued uncertainty remains a risk factor.
According to the CME Group’s FedWatch Tool, market expectations for a 25-basis-point rate cut by the Fed this month have risen to 83%. If the policy is indeed further eased, it will provide more support to the market. Going forward, Trump’s interactions with the Federal Reserve will continue to be an important indicator for market watchers[23].

Funding News

According to RootData, Three Projects Secured Funding in the Past 24 Hours, Raising Over $22.5 Million in Total, with the Largest Single Round Reaching $11.5 Million, Covering Areas Like DePIN and Social [24]

Dechat — Dechat raised $1 million in funding, with participation from Mindspace Solutions and others. Dechat is an innovative Web3 communication platform designed to redefine how users connect and transact through decentralized technology. Users can seamlessly chat and trade digital assets both within and across applications.

Spexi — Spexi completed an $11.5 million Series A round, with investments from Blockchange Ventures, Alliance DAO, and others. Spexi is a company focused on providing standardized, ultra-high-resolution Earth imaging data through drone networks. Spexi’s images offer advantages in high precision, low cost, and frequent updates, overcoming traditional Earth imaging limitations such as high costs, low resolution, and slow updates, while ensuring data integrity via blockchain technology.

Interlace — Interlace secured $10 million in Series B1 funding, with participation from Bitrock Capital, Robinhood, and others. Interlace is an enterprise-level global card issuing and digital asset management company, dedicated to providing efficient and cost-effective cross-border, multi-currency, and multi-system financial solutions.

Airdrop Opportunities

TalusNetwork

TalusNetwork is a high-performance Layer 1 blockchain that integrates artificial intelligence with blockchain technology to simplify the operation of decentralized intelligent agents within the network. TalusNetwork has raised $9 million in funding from companies including Polychain Capital. Recently, TalusNetwork launched the “Magic Season” event, featuring multiple seasons. In the first season, participants can earn points by completing social tasks, participating in daily rituals, and inviting friends. This season will run until January 11[25].

How to Participate:

1. Visit the Talus Network Hub and register.
2. Complete the onboarding tasks to earn points.
3. Post content about Talus, tag @TalusNetwork, and use the hashtag #TalusForAll to earn more points.
4. Share your referral link with friends to earn additional points.

Notes:
The airdrop program and participation methods may be updated at any time, so users are advised to follow TalusNetwork’s official channels for the latest information. Users should also exercise caution, be aware of risks, and conduct thorough research before participating. Gate Research does not guarantee the distribution 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/defichain/status/1865020870797758652
12. X, https://x.com/idexio/status/1864776646898913334
13. X, https://x.com/SUPRA_Labs/status/1861278927873880412
14. SoSoValue, https://sosovalue.xyz/assets/etf/us-btc-spot
15. SoSoValue, https://sosovalue.xyz/assets/etf/us-eth-spot
16. Coinglass, https://www.coinglass.com/pro/AvgFunding/BTC
17. Coinglass, https://www.coinglass.com/pro/AvgFunding/ETH
18. CoinGlass, https://www.coinglass.com/LiquidationData
19. CoinMarketCap, https://coinmarketcap.com/charts/bitcoin-dominance/
20. DeFiLlama, https://defillama.com/protocols/Liquid%20Staking
21. X, https://x.com/DEXXai_EN/status/1864929812474962023
22. Cryptonomist, https://en.cryptonomist.ch/2024/12/08/crypto-payments-the-willingness-to-integrate-cryptocurrencies-for-loans-and-salaries-is-increasing/
23. Edition, https://edition.cnn.com/2024/12/08/business/trump-fed-chair-jerome-powell/index.html
24. Rootdata, https://www.rootdata.com/zh/Fundraising
25. Talus, https://talus.network/

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