Market dynamics on December 11: BTC declines, altcoins and US stocks fall in sync, Microsoft shareholders reject BTC reserve proposal

Market Dynamics

1. BTC trends downward, with altcoins also declining.

2. U.S. stocks fall. Microsoft shareholders vote against the BTC reserve proposal.

Market Focus

1. Top exchange lists ME. Magic Eden is an NFT platform on the SOL blockchain, with 70% of its revenue from the BTC ecosystem and 30% from SOL NFTs. ME's total revenue is five times that of its competitor TNSR. TNSR's market cap is $700 million, while ME's is $7 billion.

2. ETH-based DeFi tokens such as USUAL, CVX, YFI, and AAVE are on the rise. The stablecoin USUSAL still has limited pre-market trading, with a large-scale official airdrop starting in the next two weeks.

3. Inscriptions like ORDI, SATS, and MERLIN plummet. Exchange wallets delist inscriptions.

4. ETH L2’s FUEL token airdrops, utilizing OP ROLLUP technology. SUI’s DeFi project BLUEFIN also conducts an airdrop, serving as an on-chain contract exchange. VC tokens take advantage of the bull market's liquidity to launch and reap benefits.