Bitget Daily Digest | South Korean funds speculate on $UXLINK, Russian finance minister says $BTC is used in foreign trade (December 26)

Market highlights

1. The market is seeing a Christmas rally, with BTC rising and stabilizing at elevated levels. In the AI agent sector, $ARC and $AIXBT are showcasing outstanding performance. In the DeSci sector, BIO Protocol's airdrop to $URO and $RIF holders has driven significant growth. However, Hyperliquid ecosystem tokens like $HYPE, $PURR, and $HFUN continue to experience a pullback.

2. $METAV, the token of the AI-Pool project launched by ai16zDAO members, soared rapidly after its debut, briefly nearing a $100 million market cap before retracing. ai16z founder Shaw has consistently expressed optimism about the project on social media. The market is closely watching its potential second wave of growth. Additionally, the experimental autonomous AI evolution platform $SPORE has achieved new highs.

3. CMC data reveals a 73.8% surge in trading volume on South Korea's leading exchange, Upbit, reaching $10.883 billion. $UXLINK was the most traded in KRW, followed by $MOCA, $AGLD, $MOVE, and $XRP. Korean funds are expected to continue speculating on these assets in the short term. 

4. Russia’s finance minister has confirmed that Bitcoin is being utilized for international trade, further advancing cryptocurrency's global adoption. Elon Musk's recent mention of DOGE has sparked widespread discussion. Meanwhile, $BTC and $SOL trading volumes hit record highs last month, while $ETH trading volume remains 50% below its peak. The market continues to gain momentum as global adoption accelerates. 

Market overview

1. BTC is trading within a tight range near the MA7 line. Tokens in the AI sector are showing strong performance, while platform token $BGB continues to reach new all-time highs. Market funds are increasingly focusing on $BWB, leading to short-term inflows and rapid price surges.

2. Major financial markets in Europe and the U.S. remain closed on Wednesday.

3. Currently standing at 99,830 USDT, Bitcoin is in a potential liquidation zone. A 1000-point drop to around 98,830 USDT could trigger over $45 million in cumulative long-position liquidations. Conversely, a rise to 100,830 USDT could lead to more than $625 million in cumulative short-position liquidations. With short liquidation volumes far surpassing long positions, it's advisable to manage leverage carefully to avoid large-scale liquidations.

4. Over the past day, Bitcoin saw $2.3 billion in spot inflows and $2.396 billion in outflows, resulting in a net outflow of $96 million.

5. Over the last 24 hours, $ETH, $XRP, $DOGE, $PNUT, and $SUI have led in futures trading net outflows, signaling potential trading opportunities.

6. Latest data shows that the U.S. BTC spot ETF recorded a single-day outflow of $338 million and an accumulated inflow of $35.489 billion, with total holdings reaching $110.041 billion. In contrast, ETH spot ETFs saw a single-day inflow of $53.544 million, with cumulative inflows reaching $2.512 billion and total holdings at $12.35 billion. While BTC saw notable outflows, ETH inflows remain steady. 

Highlights on X

I. YettaS: Insights from Ethena's strategic roadmap on how top founders think

Top-tier founders demonstrate advanced thinking by setting clear goals, creating actionable plans, and effectively utilizing resources. Ethena leverages a clear financial narrative and a phased approach to balance DeFi, CeFi, and TradFi. Through collaboration with USUAL, it has achieved multiple outcomes, including TVL growth, a stronger RWA narrative, and effective marketing. This demonstrates control and optimal resource use—core attributes of top founders.

X post: https://x.com/YettaSing/status/1871769630018322569

2. TechFlow: The rise of research-oriented AI agents in the "post-meme" era

AI agents are rapidly evolving and gaining traction in crypto market research and data analysis. Projects more directly related to trades and funds—such as $AGENCY (token due diligence), $TRISIG (automated research thread generation), and $KWANT (investment suggestions with price levels)—are capturing market attention. In today's attention-driven economy, AI agents resemble the early days of DeFi Summer, characterized by emerging narratives and constant innovation, positioning them as a significant force in the market.

X post: https://x.com/TechFlowPost/status/1871914532580557209

3. CM: Thoughts on Stablecoin season and Superchain narratives

Stablecoins and Superchain narratives have become central to DeFi's growth. Ethena has partnered with Usual to leverage real-world assets (RWA) to drive TVL growth and token price, while Resolv's RLP risk control model has refined risk grading processes. Kraken's launch of its Layer 2 mainnet, Ink, exemplifies Superchain expansion. By integrating Velodrome's liquidity consolidation, it highlights the potential for compliant exchanges to transition toward Layer-2 solutions. FraX's restructuring of the collateral model and Convex's decentralized stablecoin lending protocol have strengthened traditional DeFi strategies, while GammaSwap has introduced innovative features, injecting energy into the ecosystem.

X post: https://x.com/cmdefi/status/1871936442169225262

4. Kyle: The 2025 gameplan: Staying flexible in an ever-evolving market

The year 2024 showcased the market's unpredictability. From momentum driven by Bitcoin ETFs to record-breaking highs, and from a sluggish summer to year-end rallies, every phase reshaped the rules of the crypto market. Uncertainty is set to continue in 2025, with BTC likely influenced by macroeconomic policies and narratives surrounding the upcoming Trump administration, creating potential for new highs. Meanwhile, altcoin investments will require careful timing and thoughtful asset selection during the cycle. Key narratives, such as AI applications, DeFi innovations, the resurgence of Layer-1 blockchains, and the return of NFTs and gaming tokens, will continue to shape the market. Investors should remain vigilant against potential risks, including policy changes, supply shocks, and signals of the cycle's peak.

X post: https://x.com/0xkyle__/status/1871984136895733967

 

Institutional insights

1.Greeks.live: Options market data shows significant decline in enthusiasm, with participants' optimism for January waning

X post: https://x.com/BTC__options/status/1871916723584290848

2.Bitget Research: Bitcoin could recover and exceed $105,000 once liquidity returns after the Christmas holidays

Article: https://cointelegraph.com/news/bitcoin-recovery-above-100k-despite-holiday-illiquidity

3.Material Indicators: Bitcoin's 50-day simple moving average (SMA) still in place as support at $94,650

Article: https://cointelegraph.com/news/bitcoin-coils-key-trendlines-98k-kimchi-premium

4.Glassnode: Solana has maintained positive net capital inflow since early September 2023

X post: https://x.com/glassnode/status/1871594419541131484

 

News updates

1. Russia's Finance Minister Anton Siluanov says Russian companies have begun using Bitcoin in international trades.

2. Türkiye is tightening its anti-money laundering (AML) rules for cryptocurrencies.

3. The Central Bank of Russia develops a new monitoring platform to combat illegal cryptocurrency over-the-counter (OTC) services.

4. Bank of Italy officially classifies Bitcoin's peer-to-peer (P2P) services as "crime-as-a-service".

 

Project updates

1. Pump Science announces that holders of URO and RIF will receive BIO airdrops.

2. Berachain partners with multiple protocols to launch two incentive pre-deposit vaults.

3. Pump Science will distribute bAInance airdrops to RIF and URO holders.

4. VitaDAO community launches a proposal to airdrop 6.9 million BIO tokens to VITA and VitaDAO IPT holders.

5. Aave and Lido collectively surpassed $70 billion in net deposits for the first time, representing 45.5% of total deposits across the top 20 DeFi applications.

6. BTC and SOL trading volumes reached record highs in November, while ETH is still about 50% lower than its peak in 2021.

7. Runes transaction share on the Bitcoin network has dropped to new lows.

8. Bitget Wallet announces that it supports transactions and application interactions of multiple decentralized science (DeSci) projects.

9. The Abstract plugin has been merged into ai16z's Eliza, supporting simple transfers of ETH or ERC-20 tokens.

10. Floki announces the launch of its crypto education platform, Floki University.

 

Token unlocks

Cardano (ADA): Unlocking 18.53 million ADA on December 26, valued at $16.60 million, accounting for 0.1% of the circulating supply.

 

Recommended reads

Virtuals co-founder: Why Base and what will AI agents look like in five years? 

This is an in-depth conversation about the future of AI, cryptocurrencies, and human interaction.

Read the full article here: https://www.bitgetapps.com/zh-CN/news/detail/12560604449395

 

5 narratives to watch in 2025 (plus related projects)

The article outlines five key industry trends for 2025 and related projects, including alternative virtual machines (altVMs), chain abstraction, Layer-1 public blockchains, Rollup as a Service (RaaS), and AI applications.

Read the full article here: https://www.bitgetapps.com/zh-CN/news/detail/12560604448988