Bitget Daily Digest | DeSci gains momentum, SOL chain narratives heat up, multiple hot trends spark off the rally [December 9]

Market highlights

1. SushiSwap announces the launch of multiple new products in 2025 and hints at potential airdrops, sparking short-term hype on $SUSHI; The DeSci sector sees renewed interest, with $URO, $RIF, and $SICHUB leading the rally; Cardano Foundation's X account is hacked, causing short-term pressure on $ADA.

2. The SOL chain is buzzing with activity as $ai16z experiences a surge followed by consolidation; the anti-rug narrative token $EVEN is gaining popularity; the religious-themed $LUCE sees a strong rebound ahead of Western festivals. Multiple hot trends spark off the rally, marking a rebound for the on-chain market .

3. Over the past seven days, Ethereum NFT sales have exceeded $100 million. Pudgy Penguins takes the lead, surpassing BAYC in floor price, with the project team announcing a native token, $PENGU. As on-chain NFTs act as natural leverage, it is recommended to keep an eye on favorable market conditions for speculative opportunities. 

4. USDe supply exceeds 5.267 billion with a monthly increase of 83.73%. Tether has minted 20 billion USDT since November, signaling strong inflows and a booming market. Florida plans to establish a Bitcoin reserve by Q1 2025, Pennsylvania is about to allocate 10% of its funds to Bitcoin, and other states like Michigan and Wisconsin explore Bitcoin ETFs and trusts. With rising market sentiment, institutional and policy-driven catalysts could trigger a new wave of capital inflows.

 

Market overview

1. BTC and ETH fluctuate at high levels, with the overall market showing mixed performance. Meanwhile, the DeSci sector continues to impress. 

2.The S&P 500 and Nasdaq indices hit new highs last Friday, while Tesla surges over 5%. The oil price falls over 1% to a three-week low. Wall Street comments on non-farm payrolls: the data is insufficient to influence the Federal Reserve's interest rate cut this month.

3. Currently standing at 100,885 USDT, Bitcoin is in a potential liquidation zone. A 1000-point drop to around 99,885 USDT could trigger over $40 million in cumulative long position liquidations. Conversely, a rise to 101,885 USDT could lead to more than $120 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 $2.12 billion in spot inflows and $2.14 billion in outflows, resulting in a net outflow of $20 million.

5. Over the last 24 hours, $SUSHI, $LQTY, $BENDOG, $LOKA, and $SNX led in futures trading net inflows, signaling potential trading opportunities.

 

Highlights on X

1. @日月小楚: Emerging opportunities in the memecoin market segment, with AI Agent and DeSci in focus.

After a three-week adjustment, the memecoin market is attracting funds again, with AI Agent and DeSci emerging as hot sectors. Within the AI Agent sector, platform tokens and trending tokens show strong performance. It is recommended to focus on projects like ACT, EMP and eliza. In DeSci, despite significant declines, leading projects like $RIF still have low market caps, offering rebound potential. Overall, the memecoin market is generating new investment opportunities, signaling a potential bullish cycle.

X post: https://x.com/riyuexiaochu/status/1865613182028702089

 

2. @Timo: Comparing memecoin investment criteria with traditional corporate standards

@Timo compares the selection criteria of memecoins with the three main elements of traditional investment firms. The first is the "narrative", equivalent to the "business model" of a company. A compelling narrative can break communication barriers and attract audiences. The second is the "team". Whether in memecoins or traditional companies, the capabilities of the team determine long-term development. Top memecoin teams excel in technology, marketing, and community building. The third one is the "community." While community-driven initiatives are a hallmark of memecoin projects, sustainable success also requires robust team support.

X post: https://x.com/timotimoqi/status/1865280782178357338

 

3. @潜水观察员: Leading exchanges' VC-backed tokens fall, funds rotate, and market dynamics shift

In the wake of Binance not listing new memecoins for over a week, memecoins on the SOL chain have surged, while VC-backed tokens on Binance have declined. Memecoins like $ai16z and $EVAN, which have major positions in SOL, are reaching new highs, while $LUCE begins to rebound. Conversely, major BNB Chain projects like $KOMA and $AICELL continue to dominate, although BSC shows limited innovation. Meanwhile, VC-backed tokens on second-tier exchanges like $PUFFER have seen significant gains. Additionally, the BTC ecosystem is heating up, with the Merlin ecosystem and BTC leverage tools showing potential—hinting at structural market changes.

X post: https://x.com/connectfarm1/status/1865609092938735835

 

4. @0xWizard: Focuses on selected coins with limited capital, advocating for a balanced mindset

Currently, @0xWizard's main capital is concentrated in $EVAN and $URO on the SOL chain, while in the BTC ecosystem, it focuses on coins like $Puppet NFTs and $SEAL through airdrops. Despite limited funds and energy, @0xWizard emphasizes his desire for other coins to perform well, particularly AI Agent, DeSci, and Solana community memecoins, as their success would ultimately benefit his main holdings. They also advise investors to avoid defaming other's positions. In the same market trend, all investors should progress and retreat together, as different coins within a sector tend to rise and fall in tandem.

X post: https://x.com/0xcryptowizard/status/1865581396557009357

 

Institutional insights

1、Greeks.live: The crypto market is exhibiting independent trends with limited macroeconomic influence, presenting a good opportunity to buy options.

Read the full article here: https://x.com/BTC__options/status/1865768818884419754

2、Securitize: Clear regulatory frameworks are necessary for Real-World Asset (RWA) innovations to thrive.

X post: https://x.com/Securitize/status/1865061862078886079

3、Bitwise: Countries or regions with 0% capital gains tax on crypto will attract significant investment.

X post: https://x.com/dgt10011/status/1865608341579305455

 

News updates

1. Donald Trump denies plans to withdraw funds from the social media platform Truth Social.

2. The U.S. National Center for Public Policy Research proposes that Amazon adopt Bitcoin reserve strategies.

3. Some U.S. states may lead the federal government in establishing Bitcoin reserves.

4. Shanghai No.2 Intermediate People's Court: Virtual currency accounts for 11% of criminal cases on quasi-financial trading platforms.

5. Australia's AUSTRAC forms a task force to combat non-compliant crypto ATM providers.

 

Project updates

1. Cardano Foundation's X account has been hacked.

2. Sushi announces its 2025 product roadmap, hinting at multi-token airdrops.

2. MicroStrategy's founder hints at potentially increasing Bitcoin holdings for the fifth consecutive week.

4. The bridging revenue of Baby Doge has been 100% burned.

5. Ten institutions, including Citigroup and JPMorgan, complete tokenized settlement trials.

6. Ethereum ACDE #201 confirms the inclusion of EIP 7691 in the Pectra upgrade.

7. Shibarium has seen over 620 million transactions, with over 2 million wallet addresses.

8. ApeCoin addresses the incident at the Avalanche event and bars Nick O'Neill and all involved from future Avalanche events.

9. Blast phase 2 Gold Distribution 6 is live, with a total of 11 million.

10. STRK staking exceeds the critical point of centralization risk, with two major validators holding 54% of staked coins.

 

Token unlocks

Core DAO (CORE): Layer 1 sector project, with 2.48 million tokens valued at $3.97 million (0.3% of circulating supply) to be unlocked on December 9.

 

Recommended reads

Hyperliquid airdrop model: Why does the "product first, token later" pattern win? 

Hyperliquid takes a smart approach by combining the token schedule of venture capital-backed projects with the allocation mechanism of ICOs. It builds up the product before releasing tokens, creating sustained value through iterative engagement and gradually adopting the most valuable activities for the protocol over multiple seasons. The token is released more than a year later, rather than raising funds before launching the product. Tokens are distributed to users like community-funded projects.

Read the full article here: https://www.bitgetapp.com/zh-CN/news/detail/12560604405171

 

The AI Agent experiences a significant pullback — should investors buy the dip? 

AI Agent projects on Solana are currently undergoing a significant pullback. Meanwhile, altcoins on centralized exchanges are rising, while Base has attracted all the liquidity assets. There's debate over whether SOLETH and SOLBTC have peaked, with the overall sentiment being bearish. We expect two events to unfold: Solana will rebound and thrive again, and the AI Agent sector will also see a rebound.

Read the full article here: https://www.bitgetapp.com/zh-CN/news/detail/12560604405258