Overview

This report highlights key blockchain industry developments from December 30, 2024, to January 3, 2025. Ethena partnered with Berachain to launch Pre-deposit Vaults, introducing a new model for ecosystem rewards. Bitcoin’s estimated Store-of-Value (SoV) market size reached $1.03 trillion, marking an 85% increase in 2024. Elon Musk briefly changed his X user name to “Kekius Maximus” before reverting it within 48 hours. Meanwhile, Uniswap Labs announced the upcoming launch of v4, which will feature significant architectural changes.

Projects

Ethena and Berachain Launch Pre-Deposit Vaults to Pioneer a New Ecosystem Reward Model

Ethena Labs has launched Berachain Pre-deposit Vaults, supporting deposits in USDe, sUSDe, USDC, and USDT, with Concrete helping to launch two Vaults. This initiative allows users to maintain dollar exposure while earning Berachain rewards and participating in its ecosystem development. After Berachain’s mainnet launch, these Vaults will deploy liquidity to whitelisted protocols within the Berachain ecosystem. Additionally, USDe and sUSDe deposits will be eligible for multiple rewards, including Ethena rewards, Concrete points, BERA tokens, and other native ecosystem rewards. This mechanism allows users to maintain asset stability while participating in ecosystem growth. [1]

The collaboration between Ethena and Berachain brings users innovative liquidity management and incentive models. By supporting stablecoin deposits and offering multiple rewards, the Vaults attract users focused on stable asset allocation while driving Berachain’s early ecosystem expansion.

Bitcoin Store of Value (SoV) Estimated at $1.03T, Up 85% in 2024

CryptoQuant CEO Ki Young Ju posted on X that Bitcoin’s SoV (Store of Value) estimated market size has reached $1.03 trillion, up approximately 85% this year. The calculation method includes (off-chain) exchange trading: exchange reserves multiplied by VWAP to estimate funds entering the market through exchanges; and (on-chain) OTC trading and exchange deposits/withdrawals: Bitcoin execution and settlement occur simultaneously. Capital inflows from OTC trading or exchange on-chain activity can be estimated through a realized cap, which tracks the actual cost basis of movements. [2]

This growth reflects Bitcoin’s increasing attractiveness as digital gold and a hedge asset, while also indicating rising market demand and confidence in Bitcoin. The calculation method provided by CryptoQuant CEO Ki Young Ju combines exchange trading data and on-chain activity, showing the volume of funds entering the market through different channels, thus providing a comprehensive perspective on estimating Bitcoin’s market value.

Elon Musk Briefly Renamed X Account to “Kekius Maximus,” Reverting it Within 48Hrs

On Tuesday, Tesla CEO Elon Musk temporarily changed his X account name to “Kekius Maximus,” sparking widespread speculation. The new name appeared to blend alt-right symbolism, memes, and the protagonist of the movie Gladiator. Musk also updated his profile picture to an image of PEPE in Roman attire, holding a game controller. While Musk did not explain, the move triggered immediate reactions in the crypto market, sending the value of related meme tokens soaring. On Solana, the Kekius M (KM) token surged by up to 126x, with its market cap briefly exceeding $45 million. Within 48 hours, Musk reverted his account name to “Elon Musk” and replaced the profile picture with his own.

This incident underscores the critical role of social media in the modern crypto market. Social platforms have become vital channels for information dissemination and opinion expression, with individual actions having a significant market impact. [3]

Uniswap Labs Announces Upcoming Launch of v4 with Major Architectural Changes

Uniswap (DEX) announced the upcoming launch of its latest version, v4, drawing market attention. The announcement was made on January 2, 2025, via social media X, accompanied by a Unicode representation of “2025” and the note “v4 is coming soon” [4]. While no specific release date was provided, this indicates that Uniswap will undergo a major upgrade this year. In June 2023, Uniswap founder Hayden Adams published the v4 draft code, emphasizing the desire to refine this new version through public testing and community feedback. However, the planned launch for Q3 2024 was not achieved due to an extended testing period. As of late 2024, the team was still conducting bug bounty programs to ensure the security of core smart contracts.

As a key player in the DeFi space, Uniswap v4 will introduce a series of innovative features, including Hooks mechanisms, dynamic fees, flash accounting, and native ETH support, to enhance user trading flexibility and efficiency. This version will also provide developers with greater freedom, such as customizable pre and post-swap operation codes, supporting limit orders, custom oracles, and automated liquidity management features. These improvements help solidify Uniswap’s position as the largest decentralized exchange and inject new momentum into its future ecosystem development. However, the market remains cautious about whether this version can launch on schedule and successfully address security challenges. With DEX trading volume hitting a historic high of $436B in December 2024, whether Uniswap v4 can lead the trend again will be a major focal point in this year’s DeFi ecosystem. [5]

Notice
Users should exercise caution when participating, be mindful of risks, and conduct thorough research before involvement. Gate.io does not guarantee the future development of projects.


References

1. X，https://x.com/ethena_labs/status/1873140405375779000
2. X，https://x.com/ki_young_ju/status/1873610069444813072
3. Jin10，https://flash.jin10.com/detail/20250101200523072800
4. X，https://x.com/Uniswap/status/1874501032514052444
5. DeFiLlama，https://defillama.com/dexs

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Disclaimer
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