Daily News | Bitcoin In_script_ion Marked As A Cybersecurity Vulnerability; 10 Narratives Worth Attention from 2023-2024; APT, APE And Other Tokens Will Be Unlocked in Large Amounts

2023-12-11, 03:58

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## Crypto Daily Digest: Bitcoin In_script_ions Marked as Cybersecurity Vulnerabilities, 10 Narratives Worth Attention from 2023-2024
On December 9th, according to Cointelgraph, the National Vulnerability Database (NVD) of the United States has marked <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> in_script_ions as a cybersecurity risk, calling for attention to security vulnerabilities developed by Ordinals Protocol in 2022.

According to database records, in certain versions of Bitcoin Core and Bitcoin Knot, data carrier limitations can be bypassed by obfuscating data into code. Being added to the NVD list means that specific network security vulnerabilities have been identified, cataloged, and should be made public aware. This database is managed by the National Institute of Standards and Technology (NIST), a subsidiary of the US Department of Commerce.

Previously, Bitcoin Core client developer Luke Dashjr stated that the Bitcoin Core client vulnerability exploited by the in_script_ion has been assigned the identifier CVE-2023-50428.

On December 11th, according to The Block citing Etherscan data, <a href="/price/tether-usdt" target="_blank" class="blog_inner_link">Tether</a> froze 161 <a href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> wallets yesterday, of which 150 wallets currently do not hold USDT. It is unknown whether Tether has held USDT in the past and its quantity. There are a total of 11 wallet addresses holding over 3.5 million USDTs, of which a single address holds approximately 3.4 million USDTs. ZachXBT has linked this address to the recent hacker attack that Stack has suffered.

Previously reported, Tether stated yesterday that the company has frozen personal wallets sanctioned by the Office of Foreign Assets Control (OFAC) in the United States, with the aim of "proactively preventing any potential misuse of Tether tokens and enhancing security measures." Tether also clarified that existing wallets on the OFAC list will be frozen, and any new wallets added in the future will also be frozen.

Recently, Binance Labs released a report summarizing the "10 most noteworthy narratives.” Let's take a look at them as investment references:

1.So far this year, the total market value of cryptocurrencies has increased by about 110%, which means capital has increased by over $870 billion. So far, the market has risen by 55% (approximately $596 billion) in the fourth quarter.

2.The supply of stablecoins is recovering, and for the first time since the first quarter of 2022, the quarterly net change in the top five stablecoin supplies has turned positive.

3.NFT trading volume broke the downward trend of 8 months, with a month on month increase of nearly 200% in November; Bitcoin is the most popular chain, with NFT transactions exceeding $375 million and even surpassing Ethereum NFTs ($348 million).

4.In November, the top 20 crypto projects saw an increase in costs, which was about 84% higher than in October and about 100% higher than in September. DeFi TVL also rose, while DeFi's dominant position increased by 18% month on month.

5.Bitcoin Ordinals and BRC-20 have once again sparked interest in November, and the news of Bitcoin spot ETFs looks optimistic. The market is expected to obtain approval in January, and the halving of Bitcoin in April is another important milestone worth paying attention to.

6.Recently, many other chains of Layer 1 have performed better than Ethereum, with notable advancements in <a href="/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> and <a href="/price/toncoin-ton" target="_blank" class="blog_inner_link">Toncoin</a>.

7.SocialFi has introduced new protocols such as friend.tech, as well as updates to Farcaster, Lens, and Binance Square.

8.RWA is becoming increasingly important, currently accounting for over 49% of MakerDAO's assets on the balance sheet; Chainlink also hopes to establish a closer connection between TradFi, RWA, and cryptocurrencies through its new CCIP solution.

9.Zero knowledge technology is taking off, and recently various ZK rollups have been released, as well as work and discussions around ZK coprocessors have increased.

10.The US interest rate is at a 22 year high, and the market expects a rate cut next year.

This weekend, the NFT blue chip project, Pudgy Penguins, suddenly started to make a move.

On December 10th, the NFT project Pudgy Penguins announced on social media that Pudgy Penguins will launch Pudgy World Alpha in Q1 2024, supported by zkSync.

Pudgy World is an interactive digital gaming venue provided for Pudgy Penguins NFT holders, toy owners, and beginners. Pudgy Penguins aims to bring users a new era of blockchain supported experiences, with the goal of attracting millions of people. Pudgy World Alpha will introduce new characters Pudgy and Peaches.

After the news was released, according to Blur market data, the floor price of the NFT project "Fat Penguin" Pudgy Penguins exceeded 12 ETH, with a floor price of 12.29 ETH and a 7-day increase of 45.27%.

This week, APT, CYBER, APE and other tokens will receive a one-time large unlocking, with a total release value of approximately $252 million. Among them:

At 0:00 am (UTC) on December 11th, <a href="/price/moonbeam-glmr" target="_blank" class="blog_inner_link">Moonbeam</a> unlocked 12.72 million GLMRs (approximately $4.31 million), accounting for 1.6% of the circulating supply;

At 0:00 am (UTC) on December 12th, <a href="/price/aptos-apt" target="_blank" class="blog_inner_link">Aptos</a> will unlock 24.84 million APTs (approximately $209 million), accounting for 8.9% of the circulating supply;

At 4:19 am (UTC) on December 15th, CyberConnect will unlock 1.26 million CYBERs (approximately $8.71 million), accounting for 8.51% of the circulating supply;

At 0:00 am (UTC) on December 16th, <a href="/price/flow-flow" target="_blank" class="blog_inner_link">Flow</a> will unlock 2.6 million FLOWs (approximately $2.18 million), accounting for 0.18% of the circulating supply;

At 0:00 am (UTC) on December 17th, <a href="/price/apecoin-ape" target="_blank" class="blog_inner_link">ApeCoin</a> will unlock 15.6 million APEs (approximately $28.08 million), accounting for 4.23% of the circulating supply.

## Today’s Main Token Trends
### BTC
![](https://gimg2.gateimg.com/image/article/1702277172BTC.png)
Last week marked seven consecutive bullish closes since the opening. Short-term trading volume shows signs of reaching its peak, anticipating a significant retracement this week. Short-selling targets: $40,495 and $38,975. Holding above $37,980 is still considered a bullish signal, but crossing below warrants attention as it may indicate a shift from a bullish to a bearish trend.

### ETH
![](https://gimg2.gateimg.com/image/article/1702277191ETH.png)
Last week's upward movement approached the target neckline at $2,381, reaching a high of $2,386. If a market-wide correction occurs, expect a test of support at $2,135. Holding above $1,951, even during a pullback, still indicates a bullish trend. Short-term, there may be opportunities for both short and long positions.

### INJ
![](https://gimg2.gateimg.com/image/article/1702277214INJ.png)
The daily chart structure has seen a rise from the low of $1.225 to the historical resistance at $24.999. This week is expected to challenge the resistance multiple times and establish new highs with targets at $37.828, $61.084, and $97.616. These three levels are considered conditions for the establishment of a long-term bull market.

## Macro: CPI Joins Hands with "Terrorist Data" Attacks, and this week the Federal Reserve will set the tone for 2024
The Friday non-farm report hinted that the US labor market was hotter and more resilient than Wall Street had anticipated, undermining market expectations that the Federal Reserve would cut interest rates as early as March next year, while also supporting the view that the Federal Reserve could achieve a soft landing.

The US stock market narrowly managed to maintain its weekly rise, with the US dollar index recording its first consecutive weekly rise in a month, and US bond yields returning to their upward trend. Under the dual pressure of rising US dollar and US bond yields, gold accelerated its decline from historical highs. Spot gold fell below the $2,000 mark for the first time in two weeks, while gold futures fell to their lowest level in nearly two weeks, marking the first consecutive weekly decline in a month.

Crude oil continued to decline throughout the week, marking the longest consecutive decline in five years. On Friday, oil prices rebounded out of a five month low, attributed to a joint announcement by Russian President Putin and Saudi Crown Prince Salman after their meeting, emphasizing the importance of continued cooperation and the need for all OPEC+countries to comply with the protocol. But there are still many negative factors, including an unexpected surge in gasoline inventories in the United States last week and a 9% decrease in China's crude oil imports in November.

Looking ahead to next week, the Federal Reserve, Bank of England, and European Central Bank will release their final interest rate resolutions for the year on the same day, with an undeniable weight. In addition to these three major central banks, according to statistics, in the next few days, within a 60 hour time window, multiple economies that account for 60% of the global economy will set interest rates, including Switzerland, Norway, Brazil, Mexico, Russia, and others. Before and after Super Thursday, the market will also receive heavyweight data such as the US November CPI report, "terrorist data,” and PMI of European and American manufacturing, upgrading the complexity of the market.

Among them, the next week's US CPI report and the Federal Reserve's interest rate decision will set the tone for the market and economy to enter 2024. Given the intensity of risk events, traders will face significant challenges.

People generally expect the Federal Reserve to maintain its benchmark interest rate at its highest level in 20 years, as decision-makers are evaluating the lagging impact of a series of aggressive rate hikes since early 2022.

It is worth noting that at the beginning of this meeting, Federal Reserve officials had access to the newly released US November CPI report next Tuesday. The core CPI is expected to strengthen the view that inflation is only gradually weakening. Powell will acknowledge the progress made in inflation and the risks posed by stubborn price pressures at a press conference. Several economists from Bloomberg have stated that the Federal Reserve will not be in a hurry to cut interest rates in order to avoid further easing of the financial environment.

However, Nick Timiraos, a renowned journalist nicknamed "New Federal Reserve News Agency" and now known as "Nikileaks" on Wall Street, published an important article at a critical moment when the Federal Reserve is about to make its latest interest rate decision this week.

He concluded in the article that Federal Reserve officials are unlikely to have a serious discussion about when to cut interest rates this week, and may not discuss it in the coming months unless the economic weakness exceeds expectations. He mentioned the history of the Federal Reserve cutting interest rates around six months after the last rate hike, as well as the significant mistake of the Federal Reserve making premature rate cuts.

However, the latest interest rate forecast is expected to show that most officials expect a rate cut next year.

In fact, the Federal Reserve's next interest rate hike is no longer our focus. Our focus is on next year's interest rate cut. From now on, next year's interest rate cut is undoubtedly more than just one or two times.

Therefore, from now on, there are three major events for the cryptocurrency industry next year. Firstly, the smooth passage of Bitcoin spot ETFs; Secondly; The expectation of the Federal Reserve's interest rate cut is firmly established; Thirdly, the Bitcoin halving is approaching.

The combination of the above three events will turn into a big positive, witnessing the arrival of a bull market in this cycle together.

<div class="blog-details-info">
<div>Author:**Byron B.**, 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.
<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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