Daily News | BTC Surpassed $100,600, Hit New Historical High; HYPE Rose Over 700% Within the Month

2024-12-16, 04:32

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## Crypto Daily Digest: BTC ETFs continued to experience large inflows, ARB will receive a large unlocking this week
According to Farside Investor data, the net inflow of US <a  rel="nofollow noopener noreferrer"  href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> spot ETFs was $428 million last Friday. BlackRock's ETHA inflow was $393 million, and Fidelity's FBTC net inflow was $60 million.

Last Friday, the net inflow of <a  rel="nofollow noopener noreferrer"  href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> spot ETFs in the United States was $23.6 million. BlackRock's ETHA inflow was $9.5 million, and Grayscale's ETHE net inflow was $7.2 million.

**This week's unlocking data list: ARB, APE, ENA and other tokens will receive large unlocking amounts**

According to Token Unlocks data, ARB, APE, ENA and other tokens will receive large unlocking this week, including:

-Arbitrarum (ARB) will unlock approximately 92.65 million tokens at 21:00 Beijing time on December 16, with a ratio of 2.26% to the current <a  rel="nofollow noopener noreferrer"  href="/price/flow-flow" target="_blank" class="blog_inner_link">flow</a> and a value of approximately $95.7 million;

-<a  rel="nofollow noopener noreferrer"  href="/price/apecoin-ape" target="_blank" class="blog_inner_link">ApeCoin</a> (APE) will unlock approximately 15.6 million tokens at 20:30 Beijing time on December 17, with a ratio of 2.16% to current flow and a value of approximately $25.27 million;

-thena (ENA) will unlock approximately 12.86 million tokens at 15:00 Beijing time on December 18, with a ratio of 0.44% to the current flow and a value of approximately $16.6 million;

-<a  rel="nofollow noopener noreferrer"  href="/price/cardano-ada" target="_blank" class="blog_inner_link">Cardano</a> (ADA) will unlock approximately 18.53 million tokens at 8:00 am Beijing time on December 21, with a ratio of 0.05% to the current flow and a value of approximately $20.57 million.

**Goldman Sachs: There is no doubt that the Fed will cut interest rates in December, and will continue to cut interest rates by 25 basis points in January and March next year**

Goldman Sachs believes that there is no doubt that the Federal Reserve will cut interest rates in December, and then continue to cut interest rates by 25 basis points in January and March 2025; Subsequently, only interest rate cuts will be made at the June and September meetings.

However, there are still some variables, as more and more Federal Reserve officials indicate that the FOMC may slow down the pace of interest rate cuts as soon as possible, so there is a risk of suspending interest rate cuts at the January meeting. Traders now believe that there is a 97% chance that the Federal Reserve will cut interest rates by 25 basis points at its meeting on December 17-18. However, due to the strengthening of November data, the risk of the Federal Reserve suspending interest rate cuts in early 2025 has increased. Powell's post meeting speech and the latest economic forecast will be crucial.

**Lending protocol <a  rel="nofollow noopener noreferrer"  href="/price/aave-aave" target="_blank" class="blog_inner_link">Aave</a>'s net flow surged to $500 million in the past week**

According to IntoTheBlock, Aave's lending activities on Ethereum have sharply increased, with net traffic soaring to $500 million in the past week.

According to Gate.io market information, the lending protocol Aave token AAVE is currently priced at $371.65, reaching a high of $388.52 in the past week. Multiple indicators of the Aave protocol have reached new highs, and the total supply of stablecoins is significantly higher compared to 2021. According to DeFiLlama data, the TVL of Aave has reached a new historical high of $38.6 billion, surpassing the previous bull market period in October 2021. The estimated annual revenue for Aave is $117 million.

## Market Trends: HYPE rose over 700% in a single month, FTM swap is imminent
### Market Hotspots
CowSwap token saw a 50% increase in COW within the day, with a circulating market cap of $290 million and an FDV of $1 billion; CowSwap is an on-chain aggregation trading platform with MEV protection for transactions;

The Hyperliquid token HYPE once surpassed $25, and since its launch on November 25, HYPE's cumulative increase has exceeded 700%, with a current circulating market cap of $6.7 billion; Hyperliquid is both a Layer 1 blockchain and an on-chain derivative trading platform. Previously, HYPE TGE distributed up to 31% of token shares to the community through airdrops, which should be the largest proportion of token airdrops in the history of airdrops;

The well-established public chain FTM surged by 20%, and FTM is about to complete a 1:1 swap with the new token S this month, but the specific time has not been determined yet; In May of this year, <a  rel="nofollow noopener noreferrer"  href="/price/fantom-ftm" target="_blank" class="blog_inner_link">Fantom</a> announced a brand upgrade to Sonic Labs and announced the launch of a new token S.

### Mainstream Coins
BTC surpassed $106,000, setting a new historical high. BTC ETFs continue to receive large inflows, and the market outlook remains optimistic;

ETH returned above $4,000, and the ETH ETF achieved a net inflow of funds overall, despite strong inflows in the past two weeks;

The rise and fall of Altcoins are mixed, and there is currently no sign of sector rotation. BTCD remains high.

## Macro news: The three major US stock indexes fluctuated, and this week will welcome the last interest rate hike of the year by the Fed
Last Friday, the three major indexes of the US stock market fluctuated, with the S&P 500 index falling 0.00% to 6,051.09 points; The Dow Jones Industrial Average fell 0.20% to 43,828.06 points; The Nasdaq index rose 0.12% to 19,926.72 points. The benchmark 10-year Treasury yield is 4.40%, while the 2-year Treasury yield, which is most sensitive to the Federal Reserve policy rate, is 4.25%.

This week, the world will usher in "Super Central Bank Week", with over 20 central banks including the Federal Reserve, the Bank of England, and the Bank of Japan announcing their interest rate decisions. At present, the market generally expects the Federal Reserve to cut interest rates by 25 basis points.

On December 17-18 local time, the Federal Reserve will hold its last interest rate meeting of the year and will announce its interest rate decision, economic outlook, and "dot matrix" at 3am Beijing time on December 19. Currently, investors expect a 98% probability of the Federal Reserve cutting interest rates by 25 basis points in December. If the interest rate is cut by 25 basis points, it will put the US interest rate in the new target range of 4.25% to 4.5%. Industry insiders have stated that this expectation is not based on the latest announced inflation, but on the overall trend of the economic situation. It is worth noting that some industry insiders have stated that the expectation of the Federal Reserve's interest rate cut this week has been fully reflected in market prices, and if there are any variables, it will overturn market expectations.

<div class="blog-details-info">
<div>Author:**Icing**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions. All investments carry inherent risks; prudent decision-making is essential.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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