梗图经济的喵星统治者。持有$NEKO可进入“猫薄荷国库”，并获得战略忽略下一个狗币的投票权。可爱即基本面。

YouTube Winter Tokenized memecoin Altcoin 📛㊗️

Readers Tokenized Coin, Reader is wider than anyone thinking ...the brain's income

$GTL (GateLock) 通往未来之门的钥匙 GATELAYER

According to the latest information, the Aauto Quicker platform encountered a large-scale black and 

Super lubrication, enjoy silky smooth. My pronoun is to make everyone feel a dopamine happiness

@@Lian: the flow of every one of her works is so high. Why didn't I brush it and why didn't people h

From around the world, Warren Buffet's loyal fans praise the fans tokenIt records a daily living hab

I'm chinese old you say it and yellow Good How are you i'm fine 

中国伟大富强2020年到2028年绝对起飞外国友人，希望你们早日回归加入中国

经历了多数黑天鹅的讽刺代币跟狗狗币一起讽刺了，现实社会中的一种黑控盘交易内幕讽刺了，整个加密市场

A chill new vibe in the memecoin space. ❄️
Inspired by the calm, cool energy of winter — 

BitLynx（代币符号：LYNX）是主打高速链上交互+敏捷生态拓展的科技未来风加密代币，以“猞猁”的敏捷、迅猛、精准为核心品牌图腾，聚焦解决主流公链拥堵、跨链效率低的行业痛点，主打轻量、高速、低耗三

Greeks.live macro researcher Adam posted on the X platform that more than half of the options will expire this Friday, which will lead to increased market signal noise. It is not advisable to rely on options data as trading signals in the near term. Although the trading volume of Put options accounts for 30%, this is not a bearish signal, as institutions will reposition in advance to hedge risks.

Odaily Planet Daily reports that Greeks.live macro researcher Adam posted on the X platform that this Friday the 26th, more than half of the total options holdings will expire. Currently, the main force in trading is the repositioning of options, but this will send many signals and noise to the crypto market. In recent days, it is not advisable to use options data as trading signals. For example, today the proportion of large put option transactions reached 30%, but this is not a bearish signal. Many deep out-of-the-money and in-the-money put options are being traded, and of course, this should not be seen as an institutional view on the point level, because when a large number of options expire, many institutions move their positions early to hedge major risks.

Greeks.live宏观研究员Adam在X平台发文指出，本周五将有超过一半的期权到期，这将导致市场信号噪声增加，近期不宜依赖期权数据作为交易信号。尽管Put期权成交占比达到30%，但这并非看跌信号，机构为平抑风险会提前移仓。

Odaily星球日报讯 Greeks.live 宏观研究员 Adam 在 X 平台发文表示，本周五 26 号将有超过总持仓一半以上的期权到期，现在移仓成交是绝对的成交主力，但这会给加密市场带来很多的信号噪声，最近几天不宜以期权数据作为交易信号，比如今天 Put 大宗成交占比达到了 30%，但是这并不是一个看跌信号，有很多深度虚值和实值的看跌期权成交，当然也不应该视为机构的点位观点，因为大量期权到期时，很多机构为了平抑大头针风险，所以提前移仓。

分析师：近期加密市场不宜以期权数据作为交易信号

Analyst: Recently, the crypto market is not suitable for using options data as trading signals

Recently, XRP prices have remained weak, attracting widespread market attention. As one of the largest institutional holders of XRP, the asset management firm Evernorth is under significant on-paper pressure. According to on-chain data analysis, Evernorth's unrealized losses on XRP holdings have exceeded $200 million, making it a typical case among institutional investors during this round of market correction.
Evernorth is headquartered in Nevada, USA, and is an important player in the field of XRP institutional applications and fund management. In late October 2025, the company announced a plan to raise $1 billion to create what it calls the "world's largest public XRP fund management company." Subsequently, on November 4th, Evernorth purchased approximately 84.36 million XRP at an average price of $2.54, increasing its total XRP holdings to about 473 million.

Recently, XRP prices have remained weak, attracting widespread market attention. As one of the largest institutional holders of XRP, asset management firm Evernorth is under significant on-paper pressure. According to on-chain data analysis, Evernorth's unrealized losses on XRP holdings have exceeded $200 million, making it a typical case among institutional investors during this round of market correction.

Evernorth is headquartered in Nevada, USA, and is an important participant in the institutional application and fund management of XRP. In late October 2025, the company announced a high-profile plan to raise $1 billion to create what it calls the "world's largest public XRP fund management company." Subsequently, on November 4th, Evernorth purchased approximately 84.36 million XRP at an average price of $2.54, increasing its total XRP holdings to about 473 million.

However, since Evernorth first disclosed its XRP treasury plan, the price of XRP has fallen approximately 25%. Currently, XRP trades around $1.87, significantly down from its early-year levels. Data shows that nearly half of the circulating XRP supply is in floating loss, reflecting that overall market sentiment for XRP remains weak.

Although XRP has rebounded slightly by about 1.5% in the past 24 hours, many institutions expect this market cycle may end XRP's two-year streak of annual positive returns, with an estimated full-year decline of about 11% in 2025.

Notably, Evernorth is not the only institutional investor under pressure. In the fourth quarter of 2025, mainstream crypto assets including Ethereum and Bitcoin have generally retraced. Analysts point out that the unrealized losses of some Ethereum institutional holdings have reached tens of billions of dollars, and Bitcoin institutional investors are also facing nearly 20% on-paper drawdowns.

Overall, under the dual influence of macroeconomic environment and market sentiment, institutional-level crypto asset allocations are undergoing severe tests, and the XRP market still faces considerable short-term volatility pressure.

近期，XRP价格持续疲软引发市场广泛关注。作为当前XRP最大的机构级持有者之一，资金管理公司Evernorth正承受显著的账面压力。根据链上数据分析，Evernorth的XRP持仓未实现亏损已超过2亿美元，成为机构投资者在本轮市场回调中的典型案例。
Evernorth总部位于美国内华达州，是XRP机构应用和资金管理领域的重要参与者。2025年10月下旬，公司曾高调宣布计划筹集10亿美元，打造其所称的“全球最大的公开XRP资金管理公司”。随后在11月4日，Evernorth以平均2.54美元的价格购入约8436万枚XRP，使其XRP总持仓规模提升至约4.73亿枚。

近期，XRP价格持续疲软引发市场广泛关注。作为当前XRP最大的机构级持有者之一，资金管理公司Evernorth正承受显著的账面压力。根据链上数据分析，Evernorth的XRP持仓未实现亏损已超过2亿美元，成为机构投资者在本轮市场回调中的典型案例。

Evernorth总部位于美国内华达州，是XRP机构应用和资金管理领域的重要参与者。2025年10月下旬，公司曾高调宣布计划筹集10亿美元，打造其所称的“全球最大的公开XRP资金管理公司”。随后在11月4日，Evernorth以平均2.54美元的价格购入约8436万枚XRP，使其XRP总持仓规模提升至约4.73亿枚。

然而，自Evernorth首次披露其XRP金库计划以来，XRP价格已累计下跌约25%。当前XRP价格徘徊在1.87美元附近，较年初水平明显回落。数据显示，目前接近一半的XRP流通供应处于浮亏状态，反映出整体XRP市场情绪依然偏弱。

尽管XRP在过去24小时内小幅反弹约1.5%，但多家机构预计，本轮市场周期可能终结XRP连续两年的年度正收益表现，2025年全年或录得约11%的跌幅。

值得注意的是，Evernorth并非唯一承压的机构投资者。进入2025年第四季度，包括以太坊和比特币在内的主流加密资产普遍回调。分析师指出，部分以太坊机构持仓的未实现亏损规模已达数十亿美元，而比特币机构投资者同样面临接近两成的账面回撤。

整体来看，在宏观环境与市场情绪双重影响下，机构级加密资产配置正经历严峻考验，XRP市场短期内仍面临不小的波动压力。

XRP价格下跌冲击机构持仓，XRP财库公司Evernorth浮亏超2亿美元

XRP price decline impacts institutional holdings, XRP Treasury Company Evernorth faces over $200 million in unrealized losses

Gate News Bot message, December 25th, according to CoinMarketCap data, as of press time, IDEX (IDEX) is currently trading at $0.01, up 17.07% in the past 24 hours, reaching a high of $0.01 and a low of $0.01. The 24-hour trading volume is $7.16 million. The current market capitalization is approximately $11.8 million, an increase of $1.71 million from yesterday.
## Important recent news about IDEX:
1️⃣ **Layer II Ecosystem Expansion Strategy Advancement**
   IDEX has launched a zk-EVM Layer 2 chain based on Polygon Supernets, marking a significant step forward in the project's scalability and performance optimization. This technical solution can significantly reduce transaction costs and increase transaction throughput, laying the foundation for an upgraded decentralized trading experience. Such ecosystem-level

IDEX

Layer 2

Gate News Bot Message, December 25th, according to CoinMarketCap data, as of press time, IDEX (IDEX) is currently priced at $0.01, up 17.07% in the past 24 hours, with a high of $0.01 and a low of $0.01. The 24-hour trading volume reached $7.16 million. The current market capitalization is approximately $11.8 million, an increase of $1.71 million from yesterday.

## Important recent news about IDEX:

1️⃣ **Layer II Ecosystem Expansion Strategy Advancement**  
   IDEX launched a zk-EVM Layer 2 chain based on Polygon Supernets, marking a significant step forward in scalability and performance optimization. This technical solution can significantly reduce transaction costs and increase transaction throughput, laying the foundation for an upgraded decentralized trading experience. Such ecosystem-level upgrades generally have a positive impact on the project's medium- to long-term development prospects and help attract more developers and liquidity providers.

2️⃣ **Core Advantages of Decentralized Exchange Protocols**  
   As a key decentralized exchange, IDEX occupies a specific market position in the DeFi space. Recently, market attention on such protocol-based assets has increased, reflecting traders' ongoing demand for decentralized financial infrastructure. This supports IDEX's trading volume and ecosystem activity.

3️⃣ **Market Liquidity Improvement and Trading Enthusiasm Increase**  
   The 24-hour trading volume of $7.16 million, combined with a 17.07% increase, indicates rising market enthusiasm for this token. The market cap increased by $1.71 million compared to the previous day, signaling positive capital flow. Increased market participation provides positive support for price trends.

This message is not investment advice. Please be aware of market volatility risks when investing.

Gate News Bot 消息，12月25日，据CoinMarketCap行情，截至发稿时，IDEX（IDEX）现报0.01美元，24小时内上涨17.07%，最高触及0.01美元，最低回落至0.01美元，24小时交易量达716万美元。当前市值约为1180万美元，较昨日增长171万美元。
## IDEX近期重要消息：
1️⃣ **LayerⅡ生态扩展战略推进**
   IDEX推出基于Polygon Supernets的zk-EVM Layer 2链，标志着项目在扩展性和性能优化方面迈出重要步伐。该技术方案能够显著降低交易成本，提升交易吞吐量，为去中心化交易体验的升级奠定基础。此类生态层面

Gate News Bot 消息，12月25日，据CoinMarketCap行情，截至发稿时，IDEX（IDEX）现报0.01美元，24小时内上涨17.07%，最高触及0.01美元，最低回落至0.01美元，24小时交易量达716万美元。当前市值约为1180万美元，较昨日增长171万美元。

## IDEX近期重要消息：

1️⃣ **LayerⅡ生态扩展战略推进**
   IDEX推出基于Polygon Supernets的zk-EVM Layer 2链，标志着项目在扩展性和性能优化方面迈出重要步伐。该技术方案能够显著降低交易成本，提升交易吞吐量，为去中心化交易体验的升级奠定基础。此类生态层面的升级通常对项目的中长期发展预期产生正面推动作用，有助于吸引更多开发者和流动性参与者。

2️⃣ **去中心化交易所协议的核心优势**
   作为重点发展的去中心化交易所，IDEX在DeFi领域占据特定的市场定位。近期市场对该类协议型资产的关注度回升，反映了交易者对去中心化金融基础设施的持续需求，这为IDEX的交易量和生态活跃度提供了支撑。

3️⃣ **市场流动性改善与交易热度提升**
   24小时交易量达716万美元的表现，与17.07%的涨幅相互验证，说明市场对该币种的交易热情上升。市值较前日增长171万美元，反映出资本面的积极信号，市场参与度的提高对价格走势形成了正向支撑。

此消息不作为投资建议，投资需注意市场波动风险。

IDEX（IDEX）24小时上涨17.07%

IDEX (IDEX) increased by 17.07% in the last 24 hours

Against the backdrop of decreased liquidity during the holiday season, US spot Bitcoin ETFs have once again experienced significant outflows. Data shows a single-day net outflow of $175 million, marking the fifth consecutive trading day of net outflows, reflecting cautious attitudes among institutional investors regarding short-term Bitcoin price movements.
According to Farside Investors data, this round of capital outflows is still led by BlackRock's iShares Bitcoin Trust (IBIT), which saw a net outflow of approximately $91.4 million on that day. Grayscale GBTC and Fidelity FBTC experienced outflows of about $24.6 million and $17.2 million, respectively. Spot Bitcoin ETFs from Bitwise, Ark 21Shares, VanEck, and Franklin Templeton also saw simultaneous capital withdrawals. As a result, the total net inflow of spot Bitcoin ETFs has fallen from $62.7 billion to approximately $56.8 billion.

Amid the holiday season with declining liquidity, the US spot Bitcoin ETF has experienced another significant outflow of funds. Data shows a single-day net outflow of $175 million, marking the fifth consecutive trading day of net outflows, reflecting cautious sentiment among institutional investors regarding short-term Bitcoin price movements.

According to Farside Investors data, this round of capital outflows is still led by the iShares Bitcoin Trust (IBIT) under BlackRock, with a net outflow of approximately $91.4 million on the day. Grayscale GBTC and Fidelity FBTC saw outflows of about $24.6 million and $17.2 million, respectively. Spot Bitcoin ETFs from Bitwise, Ark 21Shares, VanEck, and Franklin Templeton also experienced simultaneous capital withdrawals. As a result, the total net inflow of spot Bitcoin ETFs has decreased from $62.7 billion to approximately $56.8 billion.

Market pressure is mainly concentrated on upcoming derivative expiration events. About $23 billion worth of Bitcoin options on the Deribit platform are nearing expiration, and the open interest related to IBIT is also at high levels. In an environment of light holiday trading and narrowing implied volatility, investors tend to reduce risk exposure and engage in tax-loss harvesting. Similar ETF capital outflow patterns also occurred before last year's Christmas and New Year holidays.

Several analysts have issued bearish outlooks on Bitcoin prices. 10x Research pointed out that, in the short term, the lack of new bullish catalysts and the cooling of market expectations regarding a shift in Federal Reserve policy limit Bitcoin's rebound momentum. From a technical analysis perspective, some analysts believe that Bitcoin risks further downside after breaking below key weekly moving averages.

Senior trader Peter Brandt and Tom Lee of Fundstrat have mentioned that $60,000 could become the next support zone. Analyst Ali Martinez noted that historical data shows that after Bitcoin falls below the 50-week moving average, the average correction can reach 60%, with a potential target around $40,000. Others believe the potential bottom range for Bitcoin is between $35,000 and $45,000.

As of now, Bitcoin is trading at approximately $87,730, with 24-hour trading volume significantly declining. In the short term, the flow of funds into spot Bitcoin ETFs, macroeconomic environment, and options market dynamics will remain key variables influencing BTC price movements.

在假日季流动性下降的背景下，美国现货比特币 ETF 再次出现明显资金外流。数据显示，单日净流出规模达到 1.75 亿美元，已连续第五个交易日录得净流出，反映出机构投资者对短期比特币价格走势保持谨慎态度。
根据 Farside Investors 数据，此轮资金外流依旧由贝莱德旗下的 iShares 比特币信托（IBIT）领衔，当日净流出约 9140 万美元。灰度 GBTC 与富达 FBTC 分别流出约 2460 万美元和 1720 万美元。Bitwise、Ark 21Shares、VanEck 以及 Franklin Templeton 的现货比特币 ETF 也同步出现资金撤离。受此影响，现货比特币 ETF 的累计净流入规模已从 627 亿美元回落至约 568 亿美元。

在假日季流动性下降的背景下，美国现货比特币 ETF 再次出现明显资金外流。数据显示，单日净流出规模达到 1.75 亿美元，已连续第五个交易日录得净流出，反映出机构投资者对短期比特币价格走势保持谨慎态度。

根据 Farside Investors 数据，此轮资金外流依旧由贝莱德旗下的 iShares 比特币信托（IBIT）领衔，当日净流出约 9140 万美元。灰度 GBTC 与富达 FBTC 分别流出约 2460 万美元和 1720 万美元。Bitwise、Ark 21Shares、VanEck 以及 Franklin Templeton 的现货比特币 ETF 也同步出现资金撤离。受此影响，现货比特币 ETF 的累计净流入规模已从 627 亿美元回落至约 568 亿美元。

市场压力主要集中在即将到来的衍生品到期事件。Deribit 平台上价值约 230 亿美元的比特币期权即将到期，而 IBIT 相关的未平仓期权合约数量同样处于高位。在假期交易清淡、隐含波动率收窄的环境下，投资者更倾向于降低风险敞口，同时进行税损收割操作。类似的 ETF 资金外流模式在去年圣诞节和新年假期前也曾出现。

多位分析师对比特币价格给出了偏空预期。10x Research 指出，短期内缺乏新的上涨催化剂，加之市场对美联储政策转向的预期降温，使得比特币反弹动能受限。技术分析层面，部分分析师认为比特币跌破关键周线均线后，存在进一步下探风险。

资深交易员 Peter Brandt 与 Fundstrat 的 Tom Lee 曾提及 6 万美元可能成为下一阶段支撑区间。而分析师 Ali Martinez 指出，历史数据显示比特币跌破 50 周均线后，平均回调幅度可达 60%，理论目标可能指向 4 万美元。另有观点认为，比特币潜在底部区间在 3.5 万至 4.5 万美元之间。

截至目前，比特币价格约为 87,730 美元，24 小时成交量明显下滑。短期来看，现货比特币 ETF 资金流向、宏观环境与期权市场动态，仍将是影响 BTC 价格走势的关键变量。

比特币ETF单日净流出1.75亿美元，分析师：BTC或回落至4 万美元

Bitcoin ETF sees $175 million net outflow in a single day, analysts: BTC may retreat to $40,000

Litecoin's current performance is indeed quite interesting.

**How to view the current price situation**

At the current $75.69 level, it’s actually a relatively comfortable zone. From a chart perspective, the price is in the lower-middle part of the range. Although the short-term moving averages are still in a bearish position, the support in the $70-$75 range has been quite strong over the past couple of days. Looking at it from another angle, LTC has the characteristic of an "unstoppable" old coin, gradually building a new consolidation platform.

From a medium-term perspective, Litecoin is in a defensive stage. Unlike new coins that soar sky-high or crash through the floor instantly, it’s experiencing a rhythmic and steady decline. The long wick has already appeared, and the downside space has been largely sealed off. The current safety margin is actually quite good.

Hyperliquid (HYPE) has recently been under continuous pressure, with the price trend clearly weakening. Previously, when market conditions were relatively stable, HYPE approached $50, but then entered a downtrend and retreated to a stage low of around $22 within the past two months. As of now, the HYPE price is approximately $23.94, down 1.39% on the daily chart, with a weekly decline of nearly 12%, reflecting that overall market sentiment remains cautious.
Against the backdrop of continued price weakness, the Hyper Foundation has chosen to intervene in the market through token burns. According to governance voting results, Hyperliquid has officially burned approximately 37 million HYPE tokens, worth over $912 million. This burn plan received about 85% support, representing a typical deflationary token economic adjustment.

HYPE

Hyperliquid (HYPE) has recently been under continuous pressure, with a clear weakening in price movement. Previously, when market conditions were relatively stable, HYPE approached $50, but then entered a downtrend and retreated to a stage low of around $22 in the past two months. As of now, HYPE is approximately at $23.94, down 1.39% daily, with a weekly decline of nearly 12%, reflecting that overall market sentiment remains cautious.

Against the backdrop of persistent price weakness, the Hyper Foundation has chosen to intervene through token burns. According to governance voting results, Hyperliquid has officially burned approximately 37 million HYPE tokens, worth over $912 million. The burn plan received about 85% support, representing a typical deflationary token economic adjustment.

On-chain data shows that since December 2024, the Hyper Foundation has continuously accumulated HYPE tokens through buybacks, with an average daily investment of about $1.5 million. Over the past week, the foundation spent approximately $12.4 million, adding nearly 500,000 tokens. With this burn completed, these tokens have been transferred to inaccessible addresses, directly reducing the circulating supply by about 11%–13%, tightening the long-term supply and demand structure of HYPE.

From historical experience, large-scale token burns usually help enhance scarcity and alleviate selling pressure to some extent. Meanwhile, spot market data also signals positive developments. In recent trading days, outflows of funds from HYPE on exchanges have remained higher than inflows, with net spot flows staying in negative territory, indicating that investors prefer to transfer tokens out of exchanges rather than short-term selling.

Regarding sentiment indicators, market buying power has begun to rebound. Data shows that the average bullishness has significantly exceeded bearishness, indicating that the bulls are re-accumulating momentum. If the token burn effect continues to ferment and spot demand warms up, HYPE’s price is expected to first rebound to the $30 region and further test the key target of $40.

However, risks still exist. If deflationary measures fail to effectively improve the market structure, HYPE may still break below the $20 support level and retreat to the $19 region. In the short term, token burns provide an important buffer for Hyperliquid, but whether the price can truly reverse still depends on overall market sentiment and the sustainability of capital flows.

Hyperliquid（HYPE）近期持续承压，价格走势明显转弱。此前在市场环境相对稳定时，HYPE 一度接近 50 美元，但随后进入下行通道，并在近两个月内回落至 22 美元附近的阶段性低点。截至目前，HYPE 价格约为 23.94 美元，日线下跌 1.39%，周线跌幅接近 12%，反映出市场整体情绪仍偏谨慎。
在价格持续走弱的背景下，Hyper 基金会选择通过代币销毁来干预市场。根据治理投票结果，Hyperliquid 已正式销毁约 3700 万枚 HYPE 代币，对应价值超过 9.12 亿美元。此次销毁方案获得了约 85% 的支持率，属于典型的通缩型代币经济调整。

Hyperliquid（HYPE）近期持续承压，价格走势明显转弱。此前在市场环境相对稳定时，HYPE 一度接近 50 美元，但随后进入下行通道，并在近两个月内回落至 22 美元附近的阶段性低点。截至目前，HYPE 价格约为 23.94 美元，日线下跌 1.39%，周线跌幅接近 12%，反映出市场整体情绪仍偏谨慎。

在价格持续走弱的背景下，Hyper 基金会选择通过代币销毁来干预市场。根据治理投票结果，Hyperliquid 已正式销毁约 3700 万枚 HYPE 代币，对应价值超过 9.12 亿美元。此次销毁方案获得了约 85% 的支持率，属于典型的通缩型代币经济调整。

链上数据显示，自 2024 年 12 月以来，Hyper 基金会持续通过回购积累 HYPE 代币，平均每日投入约 150 万美元。在过去一周内，该基金会共花费约 1240 万美元，新增近 50 万枚代币。随着本次销毁完成，这部分代币被转入不可访问地址，直接减少了约 11%–13% 的流通供应，对 HYPE 的长期供需结构形成收紧。

从历史经验来看，大规模代币销毁通常有助于提升稀缺性，并在一定程度上缓解抛售压力。与此同时，现货市场数据也释放出积极信号。近期多个交易日中，HYPE 在交易所的资金流出持续高于流入，现货净流量维持在负值区间，显示投资者更倾向于将代币转出交易所持有，而非短线抛售。

情绪指标方面，市场买方力量开始回升。相关数据显示，平均看涨幅度已明显高于看跌幅度，说明多头正在重新积聚动能。若代币销毁效应持续发酵，并伴随现货需求回暖，HYPE 价格有望先回升至 30 美元区域，并进一步测试 40 美元这一关键目标位。

不过，风险依然存在。如果通缩措施未能有效改善市场结构，HYPE 仍可能跌破 20 美元支撑，向 19 美元区域回撤。短期来看，代币销毁为 Hyperliquid 提供了重要缓冲，但价格能否真正反转，仍取决于整体市场情绪与资金持续性。

Hyperliquid基金会销毁9.12亿美元HYPE，币价能否重返40美元？

Hyperliquid Foundation burns $912 million worth of HYPE. Can the token price return to $40?

MEET48 announces the conclusion of the second "Best7" voting event, with over 20 million votes received. The top-ranked idols in the event will receive awards, and the top 3 will get special rewards such as studio-recorded songs. MEET48 will hold a press conference in Seoul on AI entertainment and Web3 development strategies, featuring exciting performances and fan interactions.

Web3

BlockBeats News, December 25 — According to the official announcement from MEET48, the world's first idol fan economy ecosystem based on Web3 infrastructure, deeply integrated with AI and UGC, the second "MEET48 Best7: The Stage of Light" large-scale voting event has officially concluded and the final report has been released. In this year's "MEET48 Best7," fans cast a total of 20,342,242 votes for idols. As of noon today, according to DappBay data, MEET48's activity dApp achieved 619.48K transactions in the past 7 days, with active user addresses (UAW) reaching 356.18K, making it the top-ranked dApp in the BSC ecosystem social track within 24 hours for UAW and the top in UAW across the BSC ecosystem over 7 days. It is reported that the final voting Top7 idols will receive event rewards provided by MEET48, and the Top3 idols in the final vote (SNH48-Hu Xiaohui, SNH48-Liu Zengyan, and SNH48-Zhang Leilei) will receive studio-recorded songs, overseas travel Vlogs, themed photo shoots, and other prizes. Tomorrow afternoon from 1:30 to 6:00 PM in Seoul, South Korea, MEET48 will jointly host the "MEET48 2026 AI Entertainment UGC Platform and Web3.0 Development Strategy Launch Conference" with AIGC digital content creator ecosystem POChain, the AIUGC virtual idol music and dance training ecological simulation game AuditionsGO developed by the original operation market team of "Audition," Hash Global, Web3 Entertainment Alliance, and The Fan, with technical support from BNB Chain. The event will also feature live performances by the seven first-generation "MEET48 Best7" idols and WIPA-ranked top idols, as well as a fan appreciation handshake event, allowing close interaction with the attending audience.

MEET48宣布第二届“Best7”投票活动结束，共收到超过2000万票。活动中，排名前的偶像将获奖，前3名会有录音室歌曲等特别奖励。MEET48将在首尔举办有关AI娱乐和Web3发展战略的发布会，届时将有精彩表演和粉丝互动。

BlockBeats 消息，12 月 25 日，据全球首个以 Web3 为底层架构、深度融合 AI 与 UGC 的偶像粉丝经济生态系统 MEET48 官方消息，第二届「MEET48 Best7：光之舞台」大型投票活动于今日正式结束并进行终报。在本届「MEET48 Best7」中，粉丝一共为偶像投出 20,342,242 票。截至当日中午 12 点，根据 DappBay 的数据显示，MEET48 的活动 dApp 在过去 7 天内的 TXN 达到了 619.48K 次，活跃用户地址数 UAW 达到 356.18K，并成为 BSC 生态社交赛道 dApp 24 小时内 UAW 全链排名第一和 7 天内 UAW BSC 生态排名第一。据悉，最终投票 Top7 的偶像将获得 MEET48 官方提供的活动奖励，最终投票 Top3 的偶像（SNH48-胡晓慧、SNH48-刘增艳和 SNH48-张雷雷）将获得录音室歌曲、海外旅行 Vlog、主题写真等奖励。明日下午 1:30-6:00 PM 在韩国首尔，MEET48 将与 AIGC 数字内容创造者 L1 生态链 POChain、由「劲舞团 Audition」原始运营市场团队策划研发的 AIUGC 虚拟偶像音舞养成生态模拟游戏 AuditionsGO、Hash Global、Web3 文娱联盟 和 The Fan，并由 BNB Chain 提供技术支持，共同举办「MEET48 2026 年 AI 娱乐 UGC 平台及 Web3.0 发展战略发布会」。7 名第一届「MEET48 Best7」和 WIPA 排名 Top 的偶像也将现场呈现多场精彩表演并举行粉丝感谢握手会，与到场观众进行近距离互动。

第二届「MEET48Best7」大型投票活动正式结束，MEET48的活动dApp位列DappBay社交赛道UAW全链排行第一

The second "MEET48Best7" large-scale voting event has officially ended, and MEET48's activity dApp ranks first in the DappBay social track UAW full-chain ranking.

Garrett Jin stated on the X platform that last week's sell-off of AI concept stocks in the US stock market was likely caused by misinterpretation by analysts. This week, the artificial intelligence sector has begun to rebound, indicating that the panic sentiment has ended. ETH has a high correlation with the Nasdaq 100 Index, which may suggest that ETH will bottom out and rebound.

ChainCatcher message, suspected "1011 insider whale" Garrett Jin posted on the X platform that last week, the sell-off of AI concept stocks in the US stock market may have been caused by emotional misinterpretation by sell-side analysts of comments made by the CEO of Broadcom. This week, the artificial intelligence sector has begun to rebound broadly, including Oracle, which is still affected by debt issues. This trend usually indicates the end of panic sentiment. Garrett Jin added that currently, the correlation between ETH and the Nasdaq 100 index remains high, and the Nasdaq 100 has now fully recovered from the declines caused by those "bad news," which may also imply that ETH will bottom out and rebound.

Garrett Jin 在 X 平台表示，上周美国股市的 AI 概念股抛售或因分析师误读导致，本周人工智能板块开始反弹，暗示恐慌情绪结束。ETH 与纳斯达克 100 指数相关性高，或预示 ETH 将触底反弹。

ChainCatcher 消息，疑似“1011内幕巨鲸”Garrett Jin 在 X 平台发文表示，上周美国股市的 AI 概念股抛售潮或因卖方分析师对博通首席执行官的言论进行了情绪化的误读，而本周人工智能板块已开始普遍反弹，其中甚至包括仍受债务问题拖累的甲骨文公司，这一趋势通常预示着恐慌情绪结束。Garrett Jin 补充表示，目前 ETH 与纳斯达克 100 指数的相关性仍然很高，纳斯达克 100 指数现已完全收复了由那些“利空消息”引发的跌幅，或暗示 ETH 也将触底反弹。

疑似“1011内幕巨鲸”Garrett Jin称ETH与纳指 100 相关性仍然很高，暗示价格或将反弹

Suspected "1011 insider whale" Garrett Jin states that ETH and the Nasdaq 100 still have a high correlation, implying the price may rebound.

In recent years, on-chain new banks have shown unexpected rapid growth in the field of crypto banking. These native blockchain financial platforms are managing assets close to the scale of traditional banks, yet they do not require physical branches, paper processes, or complex backend systems. All fund flows, account management, and transaction settlements are completed in real-time on the blockchain, unrestricted by time and location. A new digital banking model is rapidly taking shape.
Unlike traditional banks that rely on multiple intermediaries and centralized systems, on-chain new banks use blockchain as the core infrastructure. Users' funds are no longer stored in bank accounts but are directly kept in personal crypto wallets, truly achieving autonomous asset management. This model significantly reduces trust costs and also minimizes efficiency losses caused by middlemen. More importantly, on-chain new banks operate around the clock, with cross-border transfers often completed within minutes. Compared to the settlement cycles of traditional banks, which can take several days, the advantages are clear.

In recent years, on-chain neobanks have shown an unexpectedly rapid growth in the crypto banking sector. These native blockchain financial platforms are managing assets approaching the scale of traditional banks, yet they do so without physical branches, paper processes, or complex backend systems. All fund flows, account management, and transaction settlements are completed in real-time on the blockchain, unrestricted by time and geography. A new digital banking model is rapidly taking shape.

Unlike traditional banks that rely on multiple intermediaries and centralized systems, on-chain neobanks use blockchain as their core infrastructure. Users' funds are no longer stored in bank accounts but are directly held in personal crypto wallets, truly enabling autonomous asset management. This model significantly reduces trust costs and also minimizes efficiency losses caused by middlemen. More importantly, on-chain neobanks operate 24/7, with cross-border transfers often completed within minutes, offering a clear advantage over traditional banks that typically take days for settlement.

In terms of user experience, many on-chain neobanks are already highly comparable to traditional mobile banking apps. Clear asset dashboards, real-time balance inquiries, and one-click transfers allow non-professional users to get started quickly. This "looks like a bank, runs on the chain" model is driving crypto banking from a niche tool toward mainstream financial services.

Functionally, on-chain neobanks are no longer limited to crypto transactions. Through stablecoins, users can perform global payments and remittances at very low costs; with built-in DeFi modules, idle funds can automatically participate in yield strategies. Some platforms have even launched debit cards directly linked to on-chain assets, allowing users to use crypto assets in the real world as if they were fiat currency. All transaction records can be tracked on the chain in real-time, offering transparency far superior to traditional banking systems.

The rapid development of on-chain neobanks is driven by multiple trends. Increased trust in stablecoins, inefficiencies in traditional banking systems, the mainstream adoption of mobile finance, and the exploration of blockchain solutions by large financial institutions are all key factors. Crypto banks are shifting from niche innovation to becoming an integral part of mainstream financial infrastructure.

Of course, challenges remain. Regulatory environments vary by country, and users must take greater responsibility for the security of their private keys. However, as security technologies and user experience continue to improve, these issues are gradually being addressed.

Overall, on-chain neobanks are not just a fleeting trend but a significant signal of the structural transformation of the global banking industry. As application scenarios continue to expand, these crypto banking platforms are poised to inadvertently reshape the way people manage funds and conduct financial activities.

近年来，链上新银行在加密银行领域呈现出超预期的高速增长。这类原生区块链金融平台正在管理接近传统银行规模的资产，却无需实体网点、纸质流程或复杂的后台系统。所有资金流转、账户管理和交易结算都在区块链上实时完成，不受时间和地域限制，一种全新的数字银行模式正在快速成型。
与传统银行依赖多层中介和中心化系统不同，链上新银行以区块链作为核心基础设施。用户的资金不再存放在银行账户中，而是直接保存在个人加密钱包内，真正实现对资产的自主管理。这种模式显著降低了信任成本，也减少了中间环节带来的效率损耗。更重要的是，链上新银行实现了全天候运作，跨境转账往往只需几分钟即可完成，相比传统银行动辄数天的结算周期，优势明显。

近年来，链上新银行在加密银行领域呈现出超预期的高速增长。这类原生区块链金融平台正在管理接近传统银行规模的资产，却无需实体网点、纸质流程或复杂的后台系统。所有资金流转、账户管理和交易结算都在区块链上实时完成，不受时间和地域限制，一种全新的数字银行模式正在快速成型。

与传统银行依赖多层中介和中心化系统不同，链上新银行以区块链作为核心基础设施。用户的资金不再存放在银行账户中，而是直接保存在个人加密钱包内，真正实现对资产的自主管理。这种模式显著降低了信任成本，也减少了中间环节带来的效率损耗。更重要的是，链上新银行实现了全天候运作，跨境转账往往只需几分钟即可完成，相比传统银行动辄数天的结算周期，优势明显。

在用户体验层面，许多链上新银行已经高度接近传统移动银行应用。清晰的资产面板、实时余额查询和一键转账功能，使非专业用户也能快速上手。这种“看起来像银行、运行在链上”的模式，正在推动加密银行从小众工具走向大众金融服务。

功能上，链上新银行已不再局限于加密交易。通过稳定币，用户可以以极低成本完成全球支付和汇款；借助内置的 DeFi 模块，闲置资金还能自动参与收益策略。一些平台甚至推出与链上资产直接绑定的借记卡，让用户可以在现实世界中像使用法币一样使用加密资产。所有交易记录都可在链上实时追踪，透明度远高于传统银行体系。

链上新银行迅速发展的背后，离不开多重趋势的推动。稳定币信任度提升、传统银行体系效率低下、移动金融成为主流，以及大型金融机构开始探索区块链解决方案，都是关键因素。加密银行正在从边缘创新转变为主流金融基础设施的一部分。

当然，挑战依然存在。监管环境因国家而异，用户对私钥安全也需承担更高责任。但随着安全技术和用户体验不断优化，这些问题正在逐步被缓解。

总体来看，链上新银行并非短暂风口，而是全球银行业结构性转型的重要信号。随着应用场景持续扩展，这类加密银行平台有望在不经意间重塑人们管理资金和进行金融活动的方式。

链上新银行加速崛起，加密银行正重塑全球金融体系

On-chain new banks are accelerating their rise, and crypto banks are reshaping the global financial system

U.S. leading CEX CEO Brian Armstrong recently publicly stated that Bitcoin is superior to gold as a currency and store of value. This view quickly sparked widespread discussion in the cryptocurrency market. As the helm of the world's largest compliant crypto trading platform, his statement is seen by many investors as a strong endorsement of Bitcoin's long-term value.
Armstrong pointed out that in the digital age, Bitcoin has several structural advantages over gold. First, Bitcoin can be transferred quickly worldwide via the internet, whereas gold incurs high costs and low efficiency in storage, transportation, and cross-border circulation. Second, Bitcoin is highly divisible, with the smallest units precise to multiple decimal places, making it more suitable for daily transactions and asset allocation, whereas gold faces obvious limitations in practical division and circulation.

The chief executive officer of a leading US-based CEX, Brian Armstrong, recently publicly stated that Bitcoin is superior to gold as a currency and a store of value. This view quickly sparked widespread discussion in the cryptocurrency market. As the helm of the world's largest compliant crypto trading platform, his statement is seen by many investors as a strong endorsement of Bitcoin's long-term value.

Armstrong pointed out that in the digital age, Bitcoin has several structural advantages over gold. First, Bitcoin can be transferred rapidly worldwide via the internet, whereas gold incurs high costs and low efficiency in storage, transportation, and cross-border circulation. Second, Bitcoin is highly divisible, with the smallest units precise to multiple decimal places, making it more suitable for daily transactions and asset allocation, while gold faces obvious limitations in practical division and circulation.

Additionally, he emphasized Bitcoin's transparency and verifiability. Operating on a public blockchain network, Bitcoin allows anyone to verify its total supply, transfer records, and issuance rules without relying on banks or intermediary trust. This feature is particularly attractive to investors amid rising global financial uncertainties.

From a macro perspective, Armstrong's view reflects the ongoing strengthening of the "digital gold" narrative in the current market. As inflationary pressures, excessive money issuance, and geopolitical risks increase, more institutions and individuals are beginning to see Bitcoin as a hedge against inflation and currency devaluation. The comparison between Bitcoin and gold has also become an important long-term keyword in crypto asset allocation.

The market responded positively to this statement, with the crypto community generally believing that Bitcoin is gradually shifting from a highly volatile speculative asset to a more consensus-driven global store of value. Despite regulatory and technological challenges still existing, industry key players, including mainstream CEXs, are continuously reinforcing Bitcoin's role in the future financial system.

Overall, with increasing institutional adoption and the development of compliant products like Bitcoin ETFs, whether Bitcoin can surpass gold in the long term remains to be seen. However, it is certain that Bitcoin, as the "gold of the digital age," has become an important asset that global investors cannot ignore.

美国头部CEX首席执行官Brian Armstrong近日公开表示，比特币在作为货币和价值储存工具方面优于黄金，这一观点迅速在加密货币市场引发广泛讨论。作为全球最大合规加密交易平台的掌舵者，他的表态被不少投资者视为对比特币长期价值的强烈背书。
Armstrong指出，在数字化时代，比特币相较黄金具备多项结构性优势。首先，比特币可以通过互联网在全球范围内快速转移，而黄金在存储、运输和跨境流通方面成本高昂且效率低下。其次，比特币具备高度可分割性，最小单位可精确到小数点后多位，更适合日常交易和资产配置，而黄金在实际分割和流通中存在明显限制。

美国头部CEX首席执行官Brian Armstrong近日公开表示，比特币在作为货币和价值储存工具方面优于黄金，这一观点迅速在加密货币市场引发广泛讨论。作为全球最大合规加密交易平台的掌舵者，他的表态被不少投资者视为对比特币长期价值的强烈背书。

Armstrong指出，在数字化时代，比特币相较黄金具备多项结构性优势。首先，比特币可以通过互联网在全球范围内快速转移，而黄金在存储、运输和跨境流通方面成本高昂且效率低下。其次，比特币具备高度可分割性，最小单位可精确到小数点后多位，更适合日常交易和资产配置，而黄金在实际分割和流通中存在明显限制。

此外，他还强调了比特币的透明性和可验证性。比特币运行在公开的区块链网络之上，任何人都可以验证其总量、转账记录和发行规则，不依赖银行或中介机构的信用背书。这一点在全球金融不确定性上升的背景下，对投资者具有较强吸引力。

从宏观层面看，Armstrong的观点反映了当前市场对“数字黄金”叙事的持续强化。随着通胀压力、货币超发以及地缘政治风险上升，越来越多的机构和个人开始将比特币视为对冲通胀和货币贬值的工具。比特币与黄金的比较，也成为加密资产配置中的重要长期关键词。

市场对这一表态反应积极，加密社区普遍认为，比特币正逐步从高波动性的投机资产，转向更具共识的全球价值储存工具。尽管监管环境和技术挑战仍然存在，但包括主流CEX在内的行业核心参与者，正不断强化比特币在未来金融体系中的角色定位。

综合来看，随着机构采用率提升和比特币 ETF 等合规产品的发展，比特币是否能在长期内超越黄金，仍有待时间验证。但可以确定的是，比特币作为“数字时代的黄金”，已成为全球投资者无法忽视的重要资产。

Brian Armstrong直言比特币优于黄金，BTC正走向新一代全球价值储存

Brian Armstrong explicitly states that Bitcoin is superior to gold, and BTC is heading towards a new generation of global value storage

Offchain Labs has recently reaffirmed its strong commitment to the long-term development of Arbitrum. As the core development team of Arbitrum, Offchain Labs has purchased new ARB tokens in accordance with the previously approved plan. Meanwhile, the total security value of the Arbitrum ecosystem has surpassed $20 billion, marking an important milestone in the Layer 2 space.
Against the backdrop of increasing volatility in the overall crypto market, the Arbitrum ecosystem continues to expand. An increasing number of developers, institutional investors, and DeFi users are choosing Arbitrum, due to its high scalability, low transaction fees, and highly compatible security architecture with Ethereum. Offchain Labs has directly purchased ARB tokens to provide stronger confidence backing for this growth trend.

DeFi

Offchain Labs has recently reaffirmed its strong commitment to the long-term development of Arbitrum. As the core development team of Arbitrum, Offchain Labs has purchased new ARB tokens in accordance with the previously approved plan. Meanwhile, the total security value of the Arbitrum ecosystem has surpassed $20 billion, marking an important milestone in the Layer 2 space.

Against the backdrop of increasing volatility in the overall crypto market, the Arbitrum ecosystem continues to expand. More and more developers, institutional investors, and DeFi users are choosing Arbitrum due to its high scalability, low transaction fees, and highly compatible security architecture with Ethereum. By directly purchasing ARB tokens, Offchain Labs provides stronger confidence backing for this growth trend.

This increase in ARB tokens is not a short-term speculative move but part of a long-term strategy. ARB plays a core role in the Arbitrum governance system, and increasing holdings means Offchain Labs will be more deeply involved in network governance, aligning team incentives with the long-term success of the ecosystem. This approach helps to strengthen community trust and also reduces market concerns about the core team’s short-term exit.

It is worth noting that the “total security value” of Arbitrum not only includes traditional TVL but also encompasses cross-chain assets and DeFi protocol values protected by its security framework. The continuous rise of this indicator reflects high recognition from users and protocols of Arbitrum’s network security, further consolidating its leading position among Ethereum Layer 2 solutions.

Developer activity remains a key driver of Arbitrum ecosystem growth. Decentralized exchanges, lending protocols, chain games, and infrastructure tools are continuously launching, creating a virtuous cycle that steadily enhances liquidity and user engagement. Overall, Offchain Labs increasing ARB holdings and the Arbitrum security value surpassing $20 billion send a clear signal: Arbitrum is steadily progressing toward a more mature, long-term valuable Ethereum scaling network.

Offchain Labs 近日再次明确表达了对 Arbitrum 长期发展的坚定承诺。作为 Arbitrum 的核心开发团队，Offchain Labs 已按照此前获批的计划购入新的 ARB 代币。同时，Arbitrum 生态系统的总安全价值已突破 200 亿美元，成为 Layer 2 赛道中的重要里程碑。
在整体加密市场波动加剧的背景下，Arbitrum 生态却持续扩张。越来越多的开发者、机构投资者以及 DeFi 用户选择 Arbitrum，原因在于其高可扩展性、低交易费用以及与以太坊高度兼容的安全架构。Offchain Labs 通过直接购买 ARB 代币，为这一增长趋势提供了更强的信心背书。

Offchain Labs 近日再次明确表达了对 Arbitrum 长期发展的坚定承诺。作为 Arbitrum 的核心开发团队，Offchain Labs 已按照此前获批的计划购入新的 ARB 代币。同时，Arbitrum 生态系统的总安全价值已突破 200 亿美元，成为 Layer 2 赛道中的重要里程碑。

在整体加密市场波动加剧的背景下，Arbitrum 生态却持续扩张。越来越多的开发者、机构投资者以及 DeFi 用户选择 Arbitrum，原因在于其高可扩展性、低交易费用以及与以太坊高度兼容的安全架构。Offchain Labs 通过直接购买 ARB 代币，为这一增长趋势提供了更强的信心背书。

此次 ARB 代币增持并非短期投机行为，而是长期战略的一部分。ARB 在 Arbitrum 治理体系中扮演核心角色，增加持仓意味着 Offchain Labs 将更深度参与网络治理，并使团队激励与生态系统的长期成功保持一致。这种做法有助于增强社区信任，也降低了市场对核心团队短期退出的担忧。

值得关注的是，Arbitrum 的“总安全价值”概念不仅涵盖传统 TVL，还包括受其安全框架保护的跨链资产和 DeFi 协议价值。这一指标的持续上升，反映了用户和协议对 Arbitrum 网络安全性的高度认可，也进一步巩固了其在以太坊 Layer 2 解决方案中的领先地位。

开发者活跃度仍是推动 Arbitrum 生态增长的关键动力。去中心化交易所、借贷协议、链游及基础设施工具不断上线，形成良性循环，持续提升流动性与用户黏性。综合来看，Offchain Labs 加码 ARB 持仓与 Arbitrum 安全价值突破 200 亿美元，共同释放出一个清晰信号：Arbitrum 正在向更成熟、更具长期价值的以太坊扩展网络稳步前进。

Offchain Labs加码ARB持仓，Arbitrum网络总安全价值突破200亿美元

Offchain Labs increases ARB holdings, Arbitrum network's total security value surpasses $20 billion

BlockBeats 消息，12 月 25 日，据官方消息，BSC 链全链发射台 PINKPUMP 正式上线，作为链上功能领先的一站式 Web3 门户，PINKPUMP 集成多链发射台、多链 Swap、跨链服务、机器人抢新、多功能发币、一键创建 IDO、一键发布符文、市值机器人等多元功能，为用户提供全流程 Web3 服务。

BlockBeats News, December 25th, according to official sources, the BSC chain full-chain launchpad PINKPUMP officially went live. As a leading on-chain all-in-one Web3 portal, PINKPUMP integrates multi-chain launchpad, multi-chain Swap, cross-chain services, bot sniping, multi-functional token issuance, one-click IDO creation, one-click rune publishing, market cap robot, and other diverse features to provide users with a full-process Web3 service.

BSC链全链发射台PINKPUMP正式上线，提供一站式Web3门户服务

The BSC chain full-chain launchpad PINKPUMP is officially online, providing one-stop Web3 portal services.

ChainCatcher message, according to Arkham data, at 15:01, 115 BTC (worth approximately $10.09 million) was transferred from an anonymous address (starting with bc1q9czx6...) to two anonymous addresses, namely bc1qc8thg... (109.36 BTC) and

ChainCatcher reports that, according to Arkham data, at 15:01, 115 BTC (worth approximately $10.09 million) were transferred from an anonymous address (starting with bc1q9czx6...) to two anonymous addresses, namely bc1qc8thg... (109.36 BTC) and bc1qxkjug... (5.64 BTC).

ChainCatcher 消息，据 Arkham 数据，在 15:01，115 枚 BTC（价值约 1009 万美元）从一匿名地址（bc1q9czx6...开头）转出至两个匿名地址，分别为 bc1qc8thg...开头（109.36 枚）和

ChainCatcher 消息，据 Arkham 数据，在 15:01，115 枚 BTC（价值约 1009 万美元）从一匿名地址（bc1q9czx6...开头）转出至两个匿名地址，分别为 bc1qc8thg...开头（109.36 枚）和 bc1qxkjug...开头（5.64 枚）。

数据：115 枚 BTC 从匿名地址转出，价值约 1009 万美元

Data: 115 BTC transferred from an anonymous address, worth approximately $10.09 million

On December 25th, Pi Network unlocked approximately 8.7 million PI tokens as scheduled, sparking community concerns about supply changes and ecological carrying capacity. The PI token unlock coincided with increased network transactions and application usage during the holiday period, which many ecosystem participants view as a "stress test" rather than a direct market bearish signal. Pi officials and the community have repeatedly emphasized that there is currently no officially recognized public market price for PI tokens.
Mechanically, this unlock is part of Pi Network's established token distribution process, related to user engagement and ecological development milestones. Although an increase in token quantity often implies selling pressure risk in other projects, Pi still operates within a closed economic system and lacks a clear exchange price discovery mechanism. Therefore, the short-term impact mainly manifests within the ecosystem rather than the external market. Community feedback indicates that the unlock process went smoothly and did not cause significant disruptions to wallets or application operations.

On December 25th, Pi Network unlocked approximately 8.7 million PI tokens as scheduled, sparking community concerns about supply changes and ecological capacity. This token unlock coincided with increased network transactions and application usage during the holiday period, which many ecosystem participants view as a "stress test" rather than a direct market bearish signal. Pi officials and the community have repeatedly emphasized that there is currently no officially recognized public market price for PI tokens.

Mechanically, this unlock is part of Pi Network's established token distribution process, related to user engagement and ecosystem development milestones. While an increase in token supply often implies selling pressure risks in other projects, Pi still operates within a closed economic system without a clear exchange price discovery mechanism. Therefore, the short-term impact mainly affects the internal ecosystem rather than the external market. Community feedback indicates that the unlock process went smoothly and did not cause significant disruptions to wallets or application operations.

It is worth noting that the PI token unlock is synchronized with Pi Network's holiday business plans. Community data shows that over 125,000 merchants participated in holiday activities, accepting PI through local channels or applications for goods and services. Meanwhile, more than 215 mainnet applications remain active within the ecosystem, covering business, services, and community interaction scenarios, with the core goal of increasing actual usage rather than speculative trading. Merchants have autonomy in pricing, fulfillment, and promotions, with Pi Network playing a more coordinating and transparent information role.

Additionally, Pi Wallet updates have been rolled out in phases recently. Some enterprises, institutions, merchants, and individual users have received the updated versions first, with improvements in interface display and token management experience. Although the official full technical update list has not yet been announced, no major issues have been reported so far, indicating a relatively cautious deployment approach for this upgrade.

Overall, Pi Network's unlocking of 8.7 million tokens does not alter its core stance of "no official market pricing." Internal community debates continue over whether the new supply can be absorbed by real usage scenarios, but such events are more about ecosystem development and capacity testing. Before further mainnet openness or external integrations, similar token unlocks, merchant expansion, and wallet upgrades remain important parts of Pi Network's internal progress rather than direct signals of PI price movements.

12 月 25 日，Pi Network 按既定计划解锁约 870 万枚 PI 代币，引发社区对供应变化与生态承载能力的关注。此次 PI 代币解锁正值假日期间网络交易和应用使用活跃度上升，被不少生态参与者视为一次“压力测试”，而非直接的市场利空。Pi 官方与社区多次强调，PI 代币目前并不存在官方认可的公开市场价格。
从机制上看，本次解锁属于 Pi Network 既定的代币分发流程，与用户参与度和生态发展里程碑相关。虽然代币数量增加在其他项目中往往意味着抛压风险，但 Pi 仍运行在封闭经济体系内，没有明确的交易所价格发现机制，因此短期影响主要体现在生态内部，而非外部市场。社区反馈显示，此次解锁过程顺利，未对钱包或应用运行造成明显干扰。

12 月 25 日，Pi Network 按既定计划解锁约 870 万枚 PI 代币，引发社区对供应变化与生态承载能力的关注。此次 PI 代币解锁正值假日期间网络交易和应用使用活跃度上升，被不少生态参与者视为一次“压力测试”，而非直接的市场利空。Pi 官方与社区多次强调，PI 代币目前并不存在官方认可的公开市场价格。

从机制上看，本次解锁属于 Pi Network 既定的代币分发流程，与用户参与度和生态发展里程碑相关。虽然代币数量增加在其他项目中往往意味着抛压风险，但 Pi 仍运行在封闭经济体系内，没有明确的交易所价格发现机制，因此短期影响主要体现在生态内部，而非外部市场。社区反馈显示，此次解锁过程顺利，未对钱包或应用运行造成明显干扰。

值得注意的是，PI 代币解锁与 Pi Network 假日商业计划同步推进。社区数据显示，超过 12.5 万家商户参与了节日活动，通过本地渠道或应用接受 PI 用于商品和服务支付。同时，生态内仍有 215 个以上主网应用保持活跃，涵盖商业、服务和社区互动等场景，核心目标是提升实际使用，而非投机交易。商户在定价、履约和促销方面拥有自主权，Pi Network 更多扮演协调和信息透明的角色。

此外，Pi 钱包更新也在近期分阶段上线。部分企业、机构、商户及个人用户已率先收到更新版本，界面显示和代币管理体验有所优化。虽然官方尚未公布完整的技术更新清单，但目前未出现大规模问题反馈，显示此次升级采取了相对稳健的部署节奏。

整体来看，Pi Network 解锁 870 万枚代币并未改变其“无官方市场定价”的核心立场。社区内部对新增供应能否被真实使用场景消化仍存在分歧，但这类事件更多体现为生态建设和容量测试。在主网进一步开放或引入外部集成之前，类似的代币解锁、商户扩展和钱包升级，仍属于 Pi Network 内部进展的重要组成部分，而非 PI 价格走势的直接信号。


Pi Coin今日新闻：Pi Network解锁870万枚代币，超12.5万家商户参与假日商业计划

Pi Coin News Today: Pi Network unlocks 8.7 million tokens, with over 125,000 merchants participating in the holiday business plan

Come on, I'm still planning to turn things around.

Gate News Bot Message, December 25th, according to CoinMarketCap data, as of press time, IR (Infrared) is currently priced at $0.16, up 26.55% in the past 24 hours, with a high of $0.31 and a low of $0.13. The 24-hour trading volume reached $58.8 million. The current market capitalization is approximately $32.7 million, an increase of $6.86 million from yesterday.
Infrared is a liquidity solution protocol built on Berachain that simplifies the interaction of Proof of Liquidity (PoL), helping users participate in liquidity mining with one click. The core products of the protocol include PoL vaults, iBGT, and iBERA, which correspond to liquidity mining mechanisms, liquidity BGT tokens, and liquidity BERA staking solutions, respectively.

Liquidity

Gate News Bot Message, December 25th, according to CoinMarketCap market data, IR (Infrared) is currently priced at $0.16, up 26.55% in the past 24 hours, with a high of $0.31 and a low of $0.13. The 24-hour trading volume reached $58.8 million. The current market capitalization is approximately $32.7 million, an increase of $6.86 million from yesterday.

Infrared is a liquidity solution protocol built on Berachain, which simplifies the interaction of Proof of Liquidity (PoL) to help users participate in liquidity mining with one click. The core products of the protocol include PoL vaults, iBGT, and iBERA, corresponding to liquidity mining mechanisms, liquidity BGT tokens, and liquidity BERA staking solutions, respectively. Infrared is committed to providing user-friendly liquidity products, maximizing value capture, and enhancing the Berachain ecosystem experience and growth through building a PoL ecosystem.

### Important recent news about IR (Infrared):

1️⃣ **Gate Platform Derivatives Tools Launch to Expand Trading Depth**  
Gate has launched IR perpetual contract spot trading and leverage lending functions, supporting 1-20x leverage trading. Simultaneously, the launch includes Gate Perp DEX perpetual contracts, unified account lending, isolated margin trading pairs, as well as multi-asset trading tools like flash swaps and dollar-cost averaging, further improving IR’s trading ecosystem on the platform. The introduction of these derivatives features provides market participants with more flexible trading options, enhances capital participation in IR, and may offer structural support for recent price increases.

2️⃣ **Market Recovery After Initial Liquidity Release on the Exchange**  
Since IR was first listed for spot trading on the Gate platform on December 17, it experienced a typical initial sell-off phase. After reaching a high of $0.35 on December 18, the price sharply retraced to $0.25, a 27.04% decline, reflecting market momentum from airdrop distributions and pre-deposits being sold off in bulk. After a week of adjustment and market supply pressure release, the current price of $0.16 may represent the market’s reassessment of IR’s fundamental value. The 26.55% increase in 24 hours indicates the market has digested early negative factors, and participants’ recognition of the project’s long-term value is rising.

3️⃣ **Balancing Ecosystem Value and Market Liquidity**  
IR’s core ecosystem products (PoL vaults with a maximum APR of 1190.18%, iBGT APR 85.95%, iBERA APR 3.06%) and a TVL of $231 million provide substantial support for the project’s fundamentals. The Gate platform’s launch of copy trading and trading bot services makes it more convenient for community users to participate in ecosystem yields. These ecosystem data and trading features, after the initial liquidity release, gradually translate into price support, driving the current price recovery.

This message is not investment advice; please be aware of market volatility risks.

Gate News Bot 消息，12月25日，据CoinMarketCap行情，截至发稿时，IR（Infrared）现报0.16美元，24小时内上涨26.55%，最高触及0.31美元，最低回落至0.13美元，24小时交易量达5880万美元。当前市值约为3270万美元，较昨日增长686万美元。
Infrared是构建在Berachain上的流动性解决方案协议，通过简化Proof of Liquidity（PoL）的交互方式，帮助用户一键参与流动性挖矿。协议的核心产品包括PoL vaults、iBGT和iBERA三大板块，分别对应流动性挖矿机制、流动性BGT代币和流动性BERA质押解决方案。I

Gate News Bot 消息，12月25日，据CoinMarketCap行情，截至发稿时，IR（Infrared）现报0.16美元，24小时内上涨26.55%，最高触及0.31美元，最低回落至0.13美元，24小时交易量达5880万美元。当前市值约为3270万美元，较昨日增长686万美元。

Infrared是构建在Berachain上的流动性解决方案协议，通过简化Proof of Liquidity（PoL）的交互方式，帮助用户一键参与流动性挖矿。协议的核心产品包括PoL vaults、iBGT和iBERA三大板块，分别对应流动性挖矿机制、流动性BGT代币和流动性BERA质押解决方案。Infrared致力于为用户提供易用的流动性产品，最大化价值捕获，并通过构建PoL生态方案来增强Berachain生态的用户体验和生态增长。

### IR（Infrared）近期重要消息：

1️⃣ **Gate平台衍生品工具上线扩大交易深度**
Gate已上线IR的永续合约实盘交易和杠杆借贷功能，支持1-20倍杠杆交易。同步上线的Gate Perp DEX永续合约、统一账户借贷、逐仓杠杆交易对，以及闪兑、定投等多元交易工具，进一步完善了IR在平台的交易生态。这些衍生品功能的推出为市场参与者提供了更灵活的交易方式，增强了资本对IR的参与度，可能对近期价格的上升提供了结构性支撑。

2️⃣ **交易所上线初期流动性释放后的市场修复**
IR自12月17日在Gate平台首发上线现货交易以来，经历了典型的首发卖压阶段。12月18日币价触及0.35美元高点后随即大幅回调至0.25美元，跌幅达27.04%，反映了空投发放与预存款完成后集中抛售的市场动力。经过一周的调整和市场供应压力的释放，当前0.16美元价位可能代表了市场对IR基本面价值的重新认识。24小时上涨26.55%表明市场已消化早期利空因素，参与者对项目长期价值的认可度在回升。

3️⃣ **生态价值与市场流动性的平衡**
IR的核心生态产品（PoL vaults最高APR达1190.18%、iBGT APR 85.95%、iBERA APR 3.06%）以及2.31亿美元的TVL规模，为项目基本面提供了实质支撑。Gate平台上线跟单交易和交易机器人服务，使得社区用户可更便利地参与生态收益。这些生态数据与交易功能的完善，在市场完成初期流动性释放后，逐步转化为对价格的支撑力量，推动了本轮的价格恢复。

此消息不作为投资建议，投资需注意市场波动风险。

IR（Infrared）24小时上涨26.55%

IR (Infrared) increased by 26.55% in the past 24 hours

Before and after the Christmas holiday, US Bitcoin ETFs continued to face pressure, with institutional funds accelerating outflows. The latest data shows that over the past five trading days, US spot Bitcoin ETFs have experienced a total net outflow of approximately $825 million, making the US temporarily the largest seller of Bitcoin globally.
According to Farside Investors data, on Christmas Eve, US spot Bitcoin ETFs recorded a net outflow of about $175 million again. Although Wall Street continued normal trading, institutional investors chose to reduce risk exposure before the holiday, resulting in continued negative fund flows into Bitcoin ETFs. Since December 15, except for brief positive turns on some trading days, most of the time has seen capital outflows.

Before and after the Christmas holiday, US Bitcoin ETFs continued to come under pressure, with institutional funds accelerating outflows. The latest data shows that over the past five trading days, US spot Bitcoin ETFs experienced a total net outflow of approximately $825 million, making the US temporarily the largest seller of Bitcoin globally.

According to Farside Investors data, on Christmas Eve alone, US spot Bitcoin ETFs recorded a net outflow of about $175 million. Although Wall Street continued normal trading, institutional investors chose to reduce risk exposure before the holiday, resulting in continued negative fund flows into Bitcoin ETFs. Since December 15, except for brief positive turns on some trading days, most of the time has seen capital outflows.

The market generally believes that the weak performance of Bitcoin ETFs is closely related to seasonal factors. On one hand, year-end tax obligations prompt some institutions to harvest tax losses; on the other hand, quarterly options expirations also suppress short-term risk appetite. Some traders point out that such selling pressure is usually temporary and may gradually ease after the holiday.

From a market structure perspective, a notable signal is “US selling, Asia buying.” The US compliance CEX Premium indicator has been mostly negative in December, reflecting weaker demand for BTC in the US market, while buy orders during Asian trading hours have been relatively more active. This also explains why Bitcoin prices tend to perform weaker during US trading hours.

Despite short-term pressure, the long-term trend for Bitcoin and Ethereum ETFs remains optimistic among some analysts. Some believe that the current negative net flows into ETFs mainly reflect a temporary liquidity stall rather than a full-scale institutional withdrawal. Historical experience shows that prices often stabilize first, then ETF fund flows turn neutral, and finally, a new phase of net inflows and trend-based rises begins.

Overall, although five days of outflows totaling $825 million in Bitcoin ETFs put some pressure on market sentiment, it does not necessarily indicate a cycle top. As liquidity recovers after the holiday and institutions reallocate assets, the return of Bitcoin ETF funds is still seen as an important signal for the next market rally.

在圣诞节假期前后，美国比特币 ETF 持续承压，机构资金加速流出。最新数据显示，过去五个交易日内，美国现货比特币 ETF 累计净流出约 8.25 亿美元，美国一度成为当前全球比特币最大的卖出地区。
根据 Farside Investors 数据，平安夜当天，美国现货比特币 ETF 再度录得约 1.75 亿美元的净流出。尽管华尔街仍正常交易，但机构投资者在假期前选择降低风险敞口，使比特币 ETF 资金流向持续为负。自 12 月 15 日以来，除个别交易日短暂转正外，大多数时间均出现资金外流。

在圣诞节假期前后，美国比特币 ETF 持续承压，机构资金加速流出。最新数据显示，过去五个交易日内，美国现货比特币 ETF 累计净流出约 8.25 亿美元，美国一度成为当前全球比特币最大的卖出地区。

根据 Farside Investors 数据，平安夜当天，美国现货比特币 ETF 再度录得约 1.75 亿美元的净流出。尽管华尔街仍正常交易，但机构投资者在假期前选择降低风险敞口，使比特币 ETF 资金流向持续为负。自 12 月 15 日以来，除个别交易日短暂转正外，大多数时间均出现资金外流。

市场普遍认为，比特币 ETF 表现疲软与季节性因素密切相关。一方面，年底税收义务促使部分机构进行税损收割；另一方面，季度期权到期也压制了短期风险偏好。部分交易员指出，这类抛压通常具有阶段性特征，节后或将逐步缓解。

从市场结构来看，一个显著信号是“美国卖出、亚洲买入”。美国合规CEX Premium 指标在 12 月大部分时间处于负值，反映美国市场对 BTC 的需求偏弱，而亚洲交易时段的买盘相对更为积极。这也解释了比特币价格在美国交易时段表现更弱的现象。

尽管短期承压，比特币和以太坊 ETF 的长期趋势仍被部分分析师看好。有观点认为，当前 ETF 负净流入更多体现为流动性暂时停滞，而非机构全面撤离。历史经验显示，价格往往先企稳，随后 ETF 资金流动转为中性，最终才重新迎来净流入和趋势性上涨。

整体来看，比特币 ETF 五天流出 8.25 亿美元虽对市场情绪形成压力，但并不意味着周期见顶。随着节后流动性恢复、机构重新配置资产，比特币 ETF 资金回流仍被视为下一轮行情的重要观察信号。

比特币ETF五天流出8.25亿美元，美国成最大卖出方

Bitcoin ETF sees $825 million outflow in five days, with the US becoming the largest seller

On December 24th, against the backdrop of the Christmas holiday approaching and declining market liquidity, Bitcoin and Ethereum spot ETFs experienced another round of capital outflows. As traders' risk appetite decreases and holdings become more conservative, the flow of funds related to crypto asset ETFs faces temporary pressure.
According to SoSoValue data, the total net outflow from Bitcoin spot ETFs on that day was approximately $175 million. Among them, BlackRock's IBIT became the product with the largest single-day capital outflow, with a net outflow of about $91.37 million; Grayscale's GBTC followed closely, with a net outflow of approximately $24.62 million. Overall, mainstream Bitcoin ETFs faced varying degrees of selling pressure before the holiday, reflecting institutional investors' tendency to reduce exposure ahead of the holiday.

On December 24th, against the backdrop of the Christmas holiday approaching and declining market liquidity, Bitcoin and Ethereum spot ETFs experienced another round of capital outflows. As traders' risk appetite decreases and holdings become more conservative, the fund flows related to crypto asset ETFs are facing temporary pressure.

According to SoSoValue data, on that day, Bitcoin spot ETFs had a total net outflow of approximately $175 million. Among them, BlackRock's IBIT was the product with the largest single-day outflow, with a net outflow of about $91.37 million; Grayscale's GBTC followed closely, with a net outflow of approximately $24.62 million. Overall, mainstream Bitcoin ETFs faced varying degrees of selling pressure before the holiday, reflecting institutional investors' tendency to reduce exposure ahead of the break.

Ethereum spot ETFs were also not spared. On that day, the total net outflow of Ethereum ETFs was about $52.7 million. Grayscale's ETHE led the decline, with a single-day net outflow of approximately $33.78 million. Its cumulative net outflow has expanded to $5.083 billion, continuing to highlight the long-term funding pressure faced by this product.

It is worth noting that the market is not entirely lacking positive signals. Grayscale's Ethereum Mini Trust ETF (ETH) recorded an inflow of about $3.33 million on that day, with total inflows reaching $1.506 billion, indicating that some investors are still deploying Ethereum through lower-cost or more flexible structured products.

Overall, the outflow of Bitcoin ETF funds and the net outflow of Ethereum ETFs do not necessarily mean a comprehensive shift in market sentiment to bearish. Historical experience shows that before major holidays like Christmas, trading volume usually drops significantly, market makers widen spreads, and small trades can amplify ETF fund flow effects. Additionally, some fund movements may stem from year-end rebalancing, tax planning, or inter-product fund switching.

However, as an important indicator of institutional demand, if Bitcoin and Ethereum spot ETFs continue to experience net outflows for several consecutive trading days, it could reinforce the market perception that "crypto assets perform more like risk assets during liquidity tightening phases," potentially exerting short-term pressure on price trends.

12 月 24 日，在圣诞节假期临近、市场流动性下降的背景下，比特币和以太坊现货 ETF 再度遭遇资金外流。随着交易员风险偏好降低、持仓趋于保守，加密资产相关 ETF 的资金动向出现阶段性承压。
根据 SoSoValue 数据，当日比特币现货 ETF 合计净流出约 1.75 亿美元。其中，贝莱德旗下的 IBIT 成为单日资金流出最多的产品，净流出约 9137 万美元；灰度的 GBTC 紧随其后，净流出约 2462 万美元。整体来看，主流比特币 ETF 在节前均面临不同程度的抛压，反映出机构资金在假期前选择降低敞口。

12 月 24 日，在圣诞节假期临近、市场流动性下降的背景下，比特币和以太坊现货 ETF 再度遭遇资金外流。随着交易员风险偏好降低、持仓趋于保守，加密资产相关 ETF 的资金动向出现阶段性承压。

根据 SoSoValue 数据，当日比特币现货 ETF 合计净流出约 1.75 亿美元。其中，贝莱德旗下的 IBIT 成为单日资金流出最多的产品，净流出约 9137 万美元；灰度的 GBTC 紧随其后，净流出约 2462 万美元。整体来看，主流比特币 ETF 在节前均面临不同程度的抛压，反映出机构资金在假期前选择降低敞口。

以太坊现货 ETF 同样未能幸免。当日以太坊 ETF 总体净流出约 5270 万美元。灰度的 ETHE 成为领跌产品，单日净流出约 3378 万美元，其历史累计净流出已扩大至 50.83 亿美元，继续凸显该产品长期面临的资金压力。

值得注意的是，市场并非完全缺乏正向信号。Grayscale 的以太坊迷你信托 ETF（ETH）当日录得约 333 万美元的资金流入，累计流入规模已达到 15.06 亿美元，显示部分投资者仍在通过成本更低或结构更灵活的产品布局以太坊。

整体来看，比特币 ETF 资金外流、以太坊 ETF 净流出并不一定意味着市场情绪全面转空。历史经验表明，在圣诞节等重大假期前夕，交易量通常明显下降，做市商扩大价差，小额交易也可能对 ETF 资金流产生放大效应。同时，部分资金流动可能源于年末再平衡、税务规划或产品间的资金切换。

不过，作为衡量机构需求的重要指标，若比特币和以太坊现货 ETF 连续多个交易日维持净流出，仍可能强化“加密资产在流动性收紧阶段表现更接近风险资产”的市场认知，短期内对价格走势形成一定压力。

圣诞节前夕资金趋紧，比特币与以太坊ETF共计流出超2.2亿美元

Funds tighten before Christmas Eve, Bitcoin and Ethereum ETFs together outflow over $220 million

WLD price fluctuating May be due to it's down popularity?

Despite continued decline in investor participation and a significant pullback in the price of Worldcoin (WLD), well-known crypto venture capital firm Multicoin Capital still chose to increase its holdings against the trend. According to on-chain data, Multicoin Capital recently purchased 60 million WLD tokens directly from the Worldcoin project team through over-the-counter (OTC) trading, signaling the institution's long-term optimism for the biometric identity sector.
On-chain analysis platform Lookonchain discovered that a wallet address believed to be associated with Multicoin Capital transferred 30 million USDC to the Worldcoin team and subsequently received 60 million WLD tokens. This indicates that the institution did not accumulate in the open market but instead opted for large-scale direct transactions with the project team to reduce impact on secondary market prices. This move occurred amid a noticeably weakening market sentiment for WLD, making it particularly noteworthy.

USDC

Despite continued decline in investor engagement and a significant correction in the price of Worldcoin (WLD), well-known crypto venture capital firm Multicoin Capital still chose to increase its holdings against the trend. On-chain data shows that Multicoin Capital recently purchased 60 million WLD tokens directly from the Worldcoin project team through OTC trades, signaling the institution's long-term optimism for the biometric identity track.

Lookonchain, an on-chain analysis platform, discovered that a wallet address believed to be associated with Multicoin Capital transferred 30 million USDC to the Worldcoin team and subsequently received 60 million WLD tokens. This indicates that the institution did not accumulate on the open market but opted for large-scale direct transactions with the project team to reduce impact on secondary market prices. This move occurred amid a clear weakening of WLD market sentiment, making it particularly noteworthy.

From a market performance perspective, Worldcoin has recently cooled off significantly. Data from Dune Analytics shows that since September, the number of new active wallets has rapidly declined, indicating a weakening retail participation. Meanwhile, Google Trends data also confirms this trend, with the search popularity of "Worldcoin" reaching a peak in September due to the launch on South Korea's largest local CEX, but then continuously falling and now at a very low level.

The price trend also reflects the fading enthusiasm. Over the past month, WLD's price has fallen by more than 21%. Recently, WLD is trading at around $0.49, showing a short-term rebound amid a slight market recovery, but overall remaining in a low-volatility range.

In addition to market factors, Worldcoin also faces regulatory pressure in multiple countries. In late November, Thai regulators demanded the project suspend iris scanning activities and delete large-scale biometric data collected. Previously, Worldcoin encountered regulatory resistance in Kenya and Indonesia, adding uncertainty to its global expansion process.

In the context of declining investor enthusiasm and tightening regulatory environment, Multicoin Capital's decision to significantly increase its WLD holdings reflects a focus on Worldcoin's long-term potential in decentralized identity (DID) and biometric infrastructure. In the short term, WLD will still be under pressure from slowing demand and regulatory uncertainties, but continuous institutional investment may provide key support for its future development.

尽管投资者参与度持续下降、Worldcoin（WLD）价格明显回调，知名加密风投 Multicoin Capital 仍选择逆势加码。据链上数据显示，Multicoin Capital 近期通过场外交易（OTC）从 Worldcoin 项目团队直接购入 6000 万枚 WLD，释放出机构对生物识别身份赛道的长期看好信号。
链上分析平台 Lookonchain 发现，一个被认为与 Multicoin Capital 相关的钱包地址，向 Worldcoin 团队转账了 3000 万枚 USDC，随后接收了 6000 万枚 WLD 代币。这表明该机构并未在公开市场吸筹，而是选择直接与项目方完成大宗交易，以降低对二级市场价格的冲击。这一举动发生在 WLD 市场情绪明显走弱的背景下，因而格外引人关注。

尽管投资者参与度持续下降、Worldcoin（WLD）价格明显回调，知名加密风投 Multicoin Capital 仍选择逆势加码。据链上数据显示，Multicoin Capital 近期通过场外交易（OTC）从 Worldcoin 项目团队直接购入 6000 万枚 WLD，释放出机构对生物识别身份赛道的长期看好信号。

链上分析平台 Lookonchain 发现，一个被认为与 Multicoin Capital 相关的钱包地址，向 Worldcoin 团队转账了 3000 万枚 USDC，随后接收了 6000 万枚 WLD 代币。这表明该机构并未在公开市场吸筹，而是选择直接与项目方完成大宗交易，以降低对二级市场价格的冲击。这一举动发生在 WLD 市场情绪明显走弱的背景下，因而格外引人关注。

从市场表现来看，Worldcoin 近期明显降温。Dune Analytics 数据显示，自 9 月以来，新增活跃钱包数量快速下滑，说明散户参与度正在减弱。与此同时，Google Trends 数据也印证了这一趋势，“Worldcoin”搜索热度在 9 月因韩国最大本土CEX 上线一度达到峰值，但此后持续回落，目前已降至极低水平。

价格走势同样反映了热度消退。过去一个月，WLD 价格累计下跌超过 21%。截至近期，WLD 交易价格约为 0.49 美元，虽在大盘小幅反弹背景下出现短线回升，但整体仍处于低位震荡区间。

除市场因素外，Worldcoin 还面临多国监管压力。11 月下旬，泰国监管机构要求该项目暂停虹膜扫描活动，并删除已收集的大规模生物识别数据。此前，Worldcoin 在肯尼亚和印尼也遭遇监管阻力，使其全球扩张进程充满不确定性。

在投资者热度下降、监管环境趋紧的情况下，Multicoin Capital 选择大额增持 WLD，反映出其更关注 Worldcoin 在去中心化身份（DID）和生物识别基础设施领域的长期潜力。短期来看，WLD 仍将承压于需求放缓与监管不确定性，但机构资金的持续布局，或为其后续发展提供关键支撑。

WLD价格下跌、热度降温之际，Multicoin Capital场外重仓6000 万枚Worldcoin

WLD price drops and popularity cools down, Multicoin Capital off-chain accumulates 60 million Worldcoin

Gate News Bot message, December 25th, according to CoinMarketCap data, as of press time, XRP (XRP) is trading at $1.87, up 1.51% in the past 24 hours, with a high of $1.95 and a low of $1.77. The 24-hour trading volume reached $1.583 billion. The current market capitalization is approximately $113.425 billion, an increase of $16.87 million from yesterday.
The XRP Ledger is a blockchain built for business, a decentralized public chain led by a global community of enterprises and developers. The blockchain has proven reliable for over ten years, with no failures, offering a smooth development experience, low transaction costs, high performance, and sustainability. The XRP Ledger supports thousands of transactions per second, with transaction fees costing only a few cents, and has a record of over ten years of uninterrupted, error-free performance.

Ledger

Gate News Bot Message, December 25th, according to CoinMarketCap market data, as of press time, XRP (XRP) is trading at $1.87, up 1.51% in the past 24 hours, with a high of $1.95 and a low of $1.77. The 24-hour trading volume reached $1.583 billion. The current market capitalization is approximately $113.425 billion, an increase of $1.687 billion from yesterday.

XRP Ledger is a blockchain born for business, a decentralized public chain led by a global community of enterprises and developers. The blockchain has proven reliable for over ten years, with no failures, offering a smooth development experience, low transaction costs, high performance, and sustainability. XRP Ledger supports thousands of transactions per second, with transaction fees costing only a few cents, and has a performance record of over ten years of uninterrupted, error-free operation.

The network features built-in high-performance decentralized exchanges, cross-currency payments, payment channels, multi-signature, and tokens. XRP Ledger is committed to providing developers with simplified development tools, comprehensive documentation support, and a complete community ecosystem. Users can integrate and develop using multiple programming languages such as Python, Java, and Javascript.

## Analysis of Recent Key Drivers for XRP

1️⃣ **Continuous net inflow of spot ETF funds, maintaining high institutional interest**
Since the launch of the US spot XRP ETF in November, cumulative fund inflows have exceeded $1.13 billion, maintaining 28 consecutive trading days of positive inflow. The latest data shows assets under management reaching $1.25 billion. Franklin Templeton’s XRPZ fund’s XRP holdings recently surpassed 100 million coins for the first time, reaching 101.5 million coins, with a holding market value of $1.927 billion. Meanwhile, Canary Capital’s spot XRP ETF (XRPC) led with a net inflow of $384 million, with institutions like Bitwise and Grayscale also launching related products. In contrast, Bitcoin ETFs experienced a net outflow of $2.9 billion during the same period. The ability of XRP ETFs to attract funds against the broader trend highlights the stable recognition of XRP’s long-term value among institutional investors, with some funds shifting from Bitcoin and Ethereum ETFs to XRP products.

2️⃣ **Accelerated cross-chain ecosystem expansion, significantly enriching application scenarios and liquidity**
Wrapped XRP (wXRP) has officially launched on the Solana network, developed in partnership with Hex Trust and LayerZero, supported 1:1 by native XRP. Initial liquidity locked exceeds $100 million, enabling XRP users to participate in DeFi activities across multiple networks including Solana, Ethereum, Optimism, Ink, and Unichain. Ripple’s stablecoin RLUSD has initiated multi-chain testing, launching on Ethereum Layer 2 via Wormhole protocol. Meanwhile, Layer 1 blockchain Flare, together with DeFi platform Upshift Finance and risk management firm Clearstar, launched earnXRP yield products, allowing users to deposit FXRP into vaults and earn XRP-denominated yields. These cross-chain developments mark the evolution of the XRP ecosystem from single-chain to multi-chain strategies, expanding its application space into real-world asset tokenization, yield protocols, and other new scenarios.

3️⃣ **New channels for institutional retirement investments, deep integration with wealth management**
Digital Wealth Partners has launched an algorithmic trading application specifically for high-net-worth XRP holders, operating within individual retirement accounts (IRAs) and other tax-advantaged retirement accounts, supported technically by quant trading firm Arch Public. Assets are custodied by the US federally chartered digital asset bank Anchorage Digital. Additionally, Nasdaq-listed VivoPower plans to acquire Ripple Labs shares through a joint venture, investing $300 million, providing investors with indirect exposure to nearly $1 billion worth of underlying XRP assets, approximately representing 450 million XRP tokens at current prices. These initiatives indicate XRP’s evolution from a high-risk speculative tool to a compliant, long-term institutional asset allocation option.

4️⃣ **Declining exchange reserves and improved on-chain structure signal easing selling pressure**
Reserves of XRP on major centralized exchanges have fallen to about $2.6 billion, a new low since July 2024. Declining exchange reserves typically suggest investors are transferring tokens into self-custody wallets, reducing circulating supply in the short term and helping to alleviate market selling pressure. The 30-day moving average of whale fund flows shows selling pressure has weakened compared to earlier periods, although the indicator remains negative. These long-tail indicators suggest that market selling pressure may be gradually easing, creating conditions for a potential rebound.

5️⃣ **Market sentiment remains weak but rebound momentum is building; social data signals extreme conditions**
According to Santiment data, investor social sentiment towards XRP has turned bearish, with negative comments significantly above historical averages. However, such extreme sentiment often occurs near cyclical lows, and historical experience shows that these lows are often followed by price rebounds. There is a divergence between social sentiment and on-chain activity—while social discussions are pessimistic, on-chain activity and long-term holder behavior remain relatively stable. This "weak sentiment, stable structure" combination often appears before rebounds in XRP’s historical cycles.

6️⃣ **Key technical support amid low liquidity at year-end, macro risks remain**
XRP is currently trading around $1.87, with technical support in the $1.85 to $1.90 range. Year-end low liquidity makes prices more susceptible to sentiment and technical signals, with short-term position adjustments dominating. On the macro front, Bitcoin’s rebound remains weak, oscillating near $87,000, while mainstream altcoins face selective selling pressure. If macro conditions improve or market sentiment warms, the cumulative positive factors from continuous ETF net inflows, cross-chain ecosystem expansion, and institutional allocations could serve as key drivers for a price rebound.

This message is not investment advice; please be aware of market volatility risks.

Gate News Bot 消息，12月25日，据CoinMarketCap行情，截至发稿时，XRP（XRP）现报1.87美元，24小时内上涨1.51%，最高触及1.95美元，最低回落至1.77美元，24小时交易量达15.83亿美元。当前市值约为1134.25亿美元，较昨日增长16.87亿美元。
XRP Ledger是为商业而生的区块链，由全球企业和开发者社区领导的去中心化公链。该区块链已被证明可靠运行超过十年，无任何故障，提供流畅的开发体验、低廉的交易成本、高性能和可持续性。XRP Ledger支持每秒处理数千笔交易，交易费用仅需几分钱，具有十年以上无间断、无错误的性能记录。

Gate News Bot 消息，12月25日，据CoinMarketCap行情，截至发稿时，XRP（XRP）现报1.87美元，24小时内上涨1.51%，最高触及1.95美元，最低回落至1.77美元，24小时交易量达15.83亿美元。当前市值约为1134.25亿美元，较昨日增长16.87亿美元。

XRP Ledger是为商业而生的区块链，由全球企业和开发者社区领导的去中心化公链。该区块链已被证明可靠运行超过十年，无任何故障，提供流畅的开发体验、低廉的交易成本、高性能和可持续性。XRP Ledger支持每秒处理数千笔交易，交易费用仅需几分钱，具有十年以上无间断、无错误的性能记录。

该网络内置高性能的去中心化交易所、跨币种支付、支付通道、多签名和通证等强大功能。XRP Ledger致力于为开发者提供简化的开发工具、充分的文档支持和完整的社区生态，用户可通过Python、Java、Javascript等多种编程语言进行集成开发。

## XRP近期重要驱动因素分析

1️⃣ **现货ETF资金持续净流入，机构布局热度维持高位**
美国现货XRP ETF自11月推出以来，累计资金流入已突破11.3亿美元，保持连续28个交易日的正流入态势，最新数据显示资产管理规模达12.5亿美元。富兰克林邓普顿旗下XRPZ基金的XRP持仓量近日首次突破1亿枚，达到1.015亿枚，持仓市值触及19.27亿美元。与此同时，Canary Capital的现货XRP ETF（XRPC）以3.84亿美元的净流入位居首位，Bitwise和Grayscale等机构也相继推出相关产品。相比之下，同期比特币ETF遭遇29亿美元的净流出，XRP ETF的逆势吸金能力尤为突出。这种持续的机构资金流入表明，即使在年底流动性清淡和市场情绪转弱的环境中，机构投资者对XRP长期价值的认可度仍保持稳定，部分机构资金正从比特币和以太坊ETF转向XRP产品。

2️⃣ **跨链生态扩展加快，应用场景与流动性显著充实**
Wrapped XRP（wXRP）已在Solana网络正式上线，由Hex Trust与LayerZero合作推出，按1:1比例由原生XRP支持。上线初期即锁定超1亿美元流动性，使XRP用户能在Solana、以太坊、Optimism、Ink和Unichain等多条网络上参与DeFi活动。Ripple的稳定币RLUSD已启动多链试点，通过Wormhole协议在以太坊L2网络上线。与此同时，Layer 1区块链Flare与DeFi平台Upshift Finance、风险管理公司Clearstar联合推出earnXRP收益产品，允许用户将FXRP存入金库并获得XRP计价收益。这些跨链进展标志着XRP生态从单链向多链战略的演进，同时拓展了XRP在现实世界资产代币化、收益协议等新场景中的应用空间。

3️⃣ **机构退休投资新渠道开辟，财富管理深度融合**
Digital Wealth Partners推出专门为XRP高净值持有者的算法交易应用程序，该策略可在个人退休账户（IRA）及其他具有税收优惠的退休账户内运作，由量化交易公司Arch Public提供技术支持。资产由美国联邦特许数字资产银行Anchorage Digital进行托管。此外，纳斯达克上市公司VivoPower通过合资企业拟斥资3亿美元收购Ripple Labs股份，使投资者间接接触价值近10亿美元的底层XRP资产，按当前价格计算约代表4.5亿枚XRP代币。这些举措表明XRP正从高风险投机工具向合规化、长期化的机构资产配置选项演进。

4️⃣ **交易所储备下降与链上结构改善，抛压缓解信号显现**
主流CEX平台上的XRP交易所储备已降至约26亿美元，创下自2024年7月以来的新低。交易所储备下降通常意味着投资者倾向于将代币转入自托管钱包，短期可流通供应减少，有助于缓解市场抛压。XRP巨鲸资金流动的30日均线显示卖压相比前期已有所减弱，尽管该指标仍处于负值区间。这些长尾指标的变化暗示，市场抛售压力可能正在逐步缓解，为后续反弹创造条件。

5️⃣ **市场情绪虽偏弱但积累反弹动能，社交数据释放极端信号**
根据Santiment数据，投资者对XRP的社交情绪已转为看跌，负面评论数量明显高于历史平均水平。然而，这种情绪极端化往往出现在阶段性底部附近，历史经验显示此类情绪低谷与后续价格反弹相伴出现。社交情绪与链上活动数据出现背离——一方面社交平台讨论偏向悲观，另一方面链上活动和长期持有者行为保持相对稳定，这种"情绪弱、结构稳"的组合在XRP历史周期中往往出现在反弹前夕。

6️⃣ **年末流动性清淡背景下技术支撑结构关键，宏观风险犹存**
XRP当前交易价格在1.87美元附近，技术面在1.85美元至1.90美元区间内面临关键支撑争夺。年底流动性偏低导致价格更容易受到情绪和技术信号影响，短线仓位调整成为主导。宏观层面，比特币反弹乏力在87000美元附近震荡，主流山寨币面临选择性抛售压力。若宏观环境改善或市场情绪回暖，来自ETF持续净流入、跨链生态扩展、机构配置升温等多方积累的利好因素有望成为价格反弹的重要推动力量。

此消息不作为投资建议，投资需注意市场波动风险。

XRP（XRP）24小时上涨1.51%，市值约1134.25亿美元

XRP (XRP) increased by 1.51% in the last 24 hours, with a market capitalization of approximately $113.425 billion

BlockBeats News, December 25 — According to Coinbob's popular address monitoring, the "Shanzhai Air Force Leader" has recently been continuously adjusting its short positions, shifting from a focus on shorting to a defensive stance. It has recently closed short positions on multiple tokens including ASTER, UNI, and PUMP, and used the released margin to buy HYPE spot and open additional short positions for hedging. The hedge position has increased to approximately $7.8 million. Additionally, this address has completely cleared its holdings in MON, ZEC, TRUMP, and other tokens within this week, and withdrew about $2 million 24 hours ago. Currently, its total holdings amount to approximately $23.08 million. Besides the HYPE hedge portfolio, it mainly holds ETH short positions (about $4.94 million), ASTER short positions (about $3.78 million), and UNI short positions (about $30 million).

ASTER

PUMP

BlockBeats News, December 25 — According to Coinbob Hot Address Monitoring, the "Shanzhai Air Force Leader" has recently been continuously adjusting its short positions, shifting from a focus on shorting to a defensive stance. It has recently closed short positions in multiple cryptocurrencies including ASTER, UNI, and PUMP, and used the released margin to buy HYPE spot and open additional short positions for hedging. The hedge position has increased to approximately $7.8 million. Additionally, this address has fully liquidated holdings in MON, ZEC, TRUMP, and other tokens within the week, and withdrew about $2 million 24 hours ago. Currently, its total holdings amount to approximately $23.08 million, mainly holding ETH shorts (about $4.94 million), ASTER shorts (about $3.78 million), and UNI shorts (about $3.04 million), aside from the HYPE hedge portfolio. Recently, this address has focused mainly on shorting, having fully closed 10 short positions this month, and is skilled at capturing volatility opportunities in altcoins. Data shows that it has achieved a profit of about $7.1 million in the past 30 days, with a total historical profit of $82.85 million.

BlockBeats 消息，12 月 25 日，据 Coinbob 热门地址监控 显示，「山寨空军车头」近期持续调整空头头寸，由专注做空转向防守。其近日已陆续平仓 ASTER、UNI、PUMP 等多个币种空单，并将释放的保证金用于买入 HYPE 现货并增开对应空单进行对冲，该对冲仓位已增至约 780 万美元。此外，该地址本周内已完全清空 MON、ZEC、TRUMP 等币种持仓，并于 24 小时前提现约 200 万美元。目前其总持仓规模约为 2308 万美元，除 HYPE 对冲组合外，主要仍持有 ETH 空单（约 494 万美元）、ASTER 空单（约 378 万美元）及 UNI 空单（约 30

BlockBeats 消息，12 月 25 日，据 Coinbob 热门地址监控 显示，「山寨空军车头」近期持续调整空头头寸，由专注做空转向防守。其近日已陆续平仓 ASTER、UNI、PUMP 等多个币种空单，并将释放的保证金用于买入 HYPE 现货并增开对应空单进行对冲，该对冲仓位已增至约 780 万美元。此外，该地址本周内已完全清空 MON、ZEC、TRUMP 等币种持仓，并于 24 小时前提现约 200 万美元。目前其总持仓规模约为 2308 万美元，除 HYPE 对冲组合外，主要仍持有 ETH 空单（约 494 万美元）、ASTER 空单（约 378 万美元）及 UNI 空单（约 304 万美元）。该地址近期以专注做空为主，本月以来已完整平仓 10 个空单仓位，擅长捕捉山寨币波动机会。数据显示，其近 30 天实现盈利约 710 万美元，历史累计盈利已达 8285 万美元。

「山寨空军车头」节前转向防守，平仓多数空单并加仓HYPE对冲头寸

"Shanzhai Air Force Leader" shifts to defense before the holiday, closes most short positions, and increases HYPE hedging positions.

Although the capital inflow into XRP spot ETF continues to grow, the price performance remains sluggish, and the market shows clear divergence. As of recent, the total assets held by XRP ETFs have surpassed $1.25 billion, indicating that institutional investors' demand for XRP allocation is still increasing. However, the XRP price has fallen back to around $1.86, encountering selling pressure during the rebound, reflecting that short-term trading sentiment remains cautious.
From a capital perspective, in the past few trading days, XRP ETF has added approximately $8.19 million, continuing the stable inflow trend. This phenomenon aligns with the current overall logic of institutional participation in the crypto market: rather than directly chasing spot volatility, more funds are choosing to make medium- to long-term allocations through compliant and transparent ETF products to reduce custody, compliance, and operational costs. In the context of ample liquidity and gradually clearer regulatory expectations, ETFs have become the main channel for institutions to allocate XRP.

Although the capital inflow into XRP spot ETF continues to grow, the price performance remains sluggish, and the market shows clear divergence. As of recent, the total assets held by XRP ETFs have surpassed $1.25 billion, indicating that institutional investors' demand for XRP allocation is still increasing. However, the XRP price has fallen back to around $1.86, encountering persistent selling pressure during the rebound, reflecting that short-term trading sentiment remains cautious.

From a liquidity perspective, in the past few trading days, XRP ETF new funds have added approximately $8.19 million, continuing the stable inflow trend. This phenomenon aligns with the current overall logic of institutional participation in the crypto market: rather than directly chasing spot volatility, more funds prefer to adopt compliance and transparent ETF products for medium- to long-term positioning, reducing custody, compliance, and operational costs. In a context of ample liquidity and gradually clarified regulatory expectations, ETFs have become the main channel for institutions to allocate XRP.

However, the price has not yet reflected this demand. Technical analysis shows that XRP has been oscillating within the $1.85 to $1.91 range recently. The $1.90 to $1.91 zone faces obvious selling pressure, with sellers continuously offloading at this level. Volume data indicates that near $1.91, selling transactions significantly increase, suggesting this is a genuine supply concentration area rather than a decline caused by liquidity vacuum.

On the other hand, bulls have successfully defended around $1.86 multiple times. The price briefly broke below the consolidation zone but quickly rebounded, indicating stable buying support in that area. The current market is forming a gradually narrowing range structure, implying that the next effective breakout or breakdown could become a key turning point for the short-term trend.

From a more macro perspective, Bitcoin's recent lack of strength has also suppressed overall market risk appetite. Until mainstream assets establish a clear direction, XRP, even with ETF capital inflows, will find it difficult to quickly break out of the range-bound pattern.

In summary, in the short term, XRP's price movement will continue to revolve around the tug-of-war between ETF capital support and technical resistance. If XRP can regain stability above $1.88 and effectively break through $1.91, the price is likely to test the $1.95 to $2.00 range; conversely, if it falls below $1.86, a correction to the demand zone around $1.80 is not impossible. Overall, ETF capital inflows provide a downside buffer for XRP, but the true directional choice still depends on key level breakthroughs and the overall performance of Bitcoin.

尽管 XRP 现货 ETF 的资金流入持续增长，但价格表现却依然低迷，市场出现明显分化。截至近期，XRP ETF 持有的总资产规模已突破 12.5 亿美元，显示机构投资者对 XRP 的配置需求仍在上升。然而，XRP 价格却回落至 1.86 美元附近，反弹过程中不断遭遇抛压，反映出短线交易情绪依然偏谨慎。
从资金面来看，近几个交易日 XRP ETF 新增资金约 819 万美元，延续了稳定流入趋势。这一现象符合当前机构参与加密市场的整体逻辑：相比直接追逐现货波动，更多资金选择通过合规、透明的 ETF 产品进行中长期布局，以降低托管、合规与操作成本。在流动性充足、监管预期逐步明朗的背景下，ETF 成为机构配置 XRP 的主要通道。

尽管 XRP 现货 ETF 的资金流入持续增长，但价格表现却依然低迷，市场出现明显分化。截至近期，XRP ETF 持有的总资产规模已突破 12.5 亿美元，显示机构投资者对 XRP 的配置需求仍在上升。然而，XRP 价格却回落至 1.86 美元附近，反弹过程中不断遭遇抛压，反映出短线交易情绪依然偏谨慎。

从资金面来看，近几个交易日 XRP ETF 新增资金约 819 万美元，延续了稳定流入趋势。这一现象符合当前机构参与加密市场的整体逻辑：相比直接追逐现货波动，更多资金选择通过合规、透明的 ETF 产品进行中长期布局，以降低托管、合规与操作成本。在流动性充足、监管预期逐步明朗的背景下，ETF 成为机构配置 XRP 的主要通道。

然而，价格层面并未同步反映这种需求。技术面显示，XRP 近期在 1.85 美元至 1.91 美元区间内反复震荡。1.90 美元至 1.91 美元区域抛压明显，卖方持续在该位置出货。成交量数据显示，在接近 1.91 美元时，抛售成交显著放大，说明这是一个真实的供应密集区，而非流动性真空造成的下跌。

另一方面，多头在 1.86 美元附近多次防守成功。价格曾短暂跌破盘整区间后迅速反弹，表明该区域存在稳定买盘支撑。当前市场正在形成区间逐渐收敛的结构，暗示下一次有效突破或跌破，可能会成为短期趋势的关键转折点。

从更宏观的角度看，比特币近期反弹乏力，也压制了整体市场风险偏好。在主流资产未能形成明确方向之前，XRP 即便获得 ETF 资金流入，也难以迅速摆脱区间震荡格局。

综合判断，短期内 XRP 价格走势仍将围绕 ETF 资金支撑与技术阻力博弈展开。若 XRP 能重新站稳 1.88 美元并有效突破 1.91 美元，价格有望测试 1.95 美元至 2.00 美元区间；反之，一旦跌破 1.86 美元，回调至 1.80 美元附近的需求区并非不可避免。整体来看，ETF 资金流入为 XRP 提供了下行缓冲，但真正的方向选择，仍有赖于关键价位的突破以及比特币的整体表现。

XRP新闻：ETF资金流入突破12.5亿美元，XRP价格为何仍在1.86 美元徘徊？

XRP News: ETF capital inflows surpass $1.25 billion, why is XRP price still hovering around $1.86?

Odaily Planet Daily reported that according to Castle Labs statistics, L1 tokens have generally performed poorly this year, including: TON down 73.8%, AVAX down 67.9%, SUI down 67.3%, SOL down 35.9%, ETH down 15.3%, HYPE down 6.5%, with only BNB and

AVAX

Odaily Planet Daily reported that according to Castle Labs statistics, L1 tokens have generally performed poorly this year, including: TON down 73.8%, AVAX down 67.9%, SUI down 67.3%, SOL down 35.9%, ETH down 15.3%, HYPE down 6.5%, with only BNB and TRX recording positive gains of 18.2% and 9.8% respectively.

Odaily星球日报讯 据 Castle Labs 统计，L1 代币今年表现普遍不佳，其中：TON 下跌 73.8%、AVAX 下跌 67.9%、、SUI 下跌 67.3%、SOL 下跌 35.9%、ETH 下跌 15.3%、HYPE 下跌 6.5%，仅 BNB 和

Odaily星球日报讯 据 Castle Labs 统计，L1 代币今年表现普遍不佳，其中：TON 下跌 73.8%、AVAX 下跌 67.9%、、SUI 下跌 67.3%、SOL 下跌 35.9%、ETH 下跌 15.3%、HYPE 下跌 6.5%，仅 BNB 和 TRX 分别录得 18.2% 和 9.8% 的正涨幅。

分析：L1代币今年表现普遍不佳，ETH下跌超15%、SOL下跌超35%

Analysis: L1 tokens have generally performed poorly this year, with ETH dropping over 15% and SOL dropping over 35%.

After several weeks of continuous decline, the Boundless (ZKC) price suddenly strengthened, soaring approximately 30% within 24 hours, quickly attracting market attention. This Boundless price forecast indicates that this round of increase is more like a phase correction rather than a typical "pump and dump." Against the backdrop of a cumulative retracement of over 80% after TGE, ZKC's rebound is seen by many investors as a technical correction after overselling.
From a fundamental perspective, ZKC's current circulating market cap is about $27 million, but the daily trading volume has exceeded $90 million, with significantly increased transaction activity, indicating a clear rise in short-term capital interest. This "low market cap + high transaction volume" structure often implies that price volatility remains relatively high.

After several weeks of continuous decline, the Boundless (ZKC) price suddenly strengthened, surging approximately 30% within 24 hours, quickly attracting market attention. This price prediction for Boundless indicates that this round of rally appears more like a phase correction rather than a typical "pump and dump." Against the backdrop of a cumulative retracement of over 80% after TGE, ZKC's rebound is seen by many investors as a technical correction after an oversold condition.

From a fundamental perspective, ZKC's current circulating market cap is about $27 million, but its daily trading volume has exceeded $90 million, with significantly increased transaction activity, indicating a clear rise in short-term capital interest. This "low market cap + high trading volume" structure often implies that price volatility remains relatively high.

The reason Boundless has re-entered the market spotlight is closely related to its industry sector. As a general zero-knowledge proof protocol, Boundless (ZKC) provides scalable, verifiable computing capabilities for multiple blockchains through a decentralized proof network, aligning with the current trend of rising interest in "privacy computing" and "ZK infrastructure." As institutions and enterprises promote blockchain adoption while balancing privacy and transparency, the demand for general ZK computing is expanding.

The project background also provides some support. Boundless has secured approximately $52 million to $54 million in funding, with investors including Blockchain Capital, Bain Capital Crypto, Delphi Ventures, and partnerships with Ethereum Foundation, Wormhole, EigenLayer, among others. Compared to similar projects with valuations often reaching hundreds of millions of dollars, ZKC's current market cap remains significantly low, which is an important reason some funds are betting on a rebound.

From a technical standpoint, ZKC has rebounded from around $0.11 to above $0.12, with higher lows appearing on the 4-hour chart, indicating an improvement in short-term trend. However, the overall structure has not fully exited the bear market. The first key resistance level is $0.15; if a volume breakout occurs, it could further test the $0.20 region. Only by regaining stability above $0.20 would a substantial mid-term structural shift be confirmed, with potential targets at $0.28 or even $0.33.

The RSI indicator has recovered from the oversold zone to the neutral range, suggesting easing selling pressure and momentum correction, but it is not yet strong enough to confirm a reversal. If the breakout fails, the price may still retest the $0.11 support level.

Overall, this round of ZKC rally is more of an oversold rebound and sector sentiment correction. In the short term, Boundless's price movement will likely fluctuate within the $0.15–$0.20 range, and investors should pay close attention to trading volume and the outcome of key resistance battles.

在经历数周持续下行后，Boundless（ZKC）价格突然走强，24 小时内暴涨约 30%，迅速引发市场关注。本次 Boundless 价格预测显示，这一轮上涨更像是阶段性修复，而非典型的“拉高出货”。在 TGE 后价格累计回撤超过 80% 的背景下，ZKC 的反弹被不少投资者视为超跌后的技术性修复。
从基本数据来看，ZKC 当前流通市值约 2700 万美元，但单日交易量已超过 9000 万美元，成交显著放大，显示短期资金关注度明显提升。这种“低市值+高成交”的结构，往往意味着价格波动性仍然较高。

在经历数周持续下行后，Boundless（ZKC）价格突然走强，24 小时内暴涨约 30%，迅速引发市场关注。本次 Boundless 价格预测显示，这一轮上涨更像是阶段性修复，而非典型的“拉高出货”。在 TGE 后价格累计回撤超过 80% 的背景下，ZKC 的反弹被不少投资者视为超跌后的技术性修复。

从基本数据来看，ZKC 当前流通市值约 2700 万美元，但单日交易量已超过 9000 万美元，成交显著放大，显示短期资金关注度明显提升。这种“低市值+高成交”的结构，往往意味着价格波动性仍然较高。

Boundless 之所以重新进入市场视野，与其所处赛道密切相关。作为通用零知识计算协议，Boundless（ZKC）通过去中心化证明者网络，为多条区块链提供可扩展、可验证的计算能力，切中当前“隐私计算”“ZK 基础设施”持续升温的趋势。随着机构与企业在兼顾隐私与透明性的前提下推进区块链落地，通用 ZK 计算的需求正在扩大。

项目背景同样为其提供了一定支撑。Boundless 已获得约 5200 万至 5400 万美元融资，投资方包括 Blockchain Capital、Bain Capital Crypto、Delphi Ventures，并与以太坊基金会、Wormhole、EigenLayer 等建立合作关系。相较同类项目动辄数亿美元的估值，ZKC 当前市值仍处于明显偏低区间，这也是部分资金选择博弈反弹的重要原因。

从技术面看，ZKC 已从 0.11 美元附近反弹至 0.12 美元上方，4 小时级别出现更高低点，短线趋势有所改善。但整体结构仍未完全脱离熊市。0.15 美元是首个关键阻力位，若放量突破，有望进一步测试 0.20 美元区域。只有重新站稳 0.20 美元，才意味着中期结构发生实质性转变，上方潜在目标将指向 0.28 美元甚至 0.33 美元。

RSI 指标已从超卖区域回升至中性区间，表明抛压缓解、动能修复，但尚不足以确认强势反转。若突破失败，价格仍可能回踩 0.11 美元支撑。

综合来看，本轮 ZKC 上涨更偏向超跌反弹与赛道情绪修复。短期内，Boundless 价格走势仍将围绕 0.15–0.20 美元区间展开，投资者需重点关注成交量与关键阻力位的博弈结果。

Boundless价格预测：ZKC一夜暴涨30%，是反转信号还是短期拉升？

Boundless Price Prediction: ZKC Surges 30% Overnight, Is It a Reversal Signal or a Short-term Rally?

On December 25th, Solana (SOL) price continued to face pressure, failing to quickly recover after breaking below a short-term key support level, and market sentiment has clearly become more cautious. Although the Solana ecosystem is still advancing infrastructure and application expansion, the current market is more driven by liquidity and leverage structures rather than fundamental narratives.
From a price structure perspective, SOL has recently been oscillating within the range of $122 to $145. Multiple rebounds have failed to attract sustained buying, leading to increased selling pressure at higher levels. Traders are more inclined to engage in short-term trading around liquidation zones rather than chasing trend-based rallies.

On December 25th, Solana (SOL) price continued to face pressure, failing to quickly recover after breaking below a short-term key support level, and market sentiment has clearly become more cautious. Although the Solana ecosystem is still advancing infrastructure and application expansion, the current market is more dominated by liquidity and leverage structures rather than fundamental narratives.

From a price structure perspective, SOL has recently been oscillating within the range of $122 to $145. Multiple rebounds have failed to attract sustained buying, leading to increased selling pressure at higher levels. Traders are more inclined to engage in short-term trading around liquidation zones rather than chasing trend-based rallies.

In terms of technical indicators, Solana's RSI remains around 40, indicating a weak neutral zone with insufficient momentum; MACD is still below the signal line, suggesting that short-term downward pressure has not been alleviated, and there are no clear trend reversal signals in the market.

On-chain data shows that Solana's next move may heavily depend on whale behavior. Onchain Lens tracked two high-leverage whales taking completely opposite strategies on SOL. One address holds a 20x leveraged long position, with unrealized losses exceeding $5.78 million; while another whale holds a 20x leveraged short position, with accumulated profits of about $11 million, and has begun gradually taking profits. This divergence reflects a high level of disagreement in the market regarding the short- to medium-term direction of SOL.

Fundamentally, a US compliant CEX announced support for direct deposits and withdrawals of SOL via the Base network, opening a liquidity channel between Solana and the Base ecosystem. This integration reduces cross-chain transaction friction, allowing SOL to be used in native DeFi applications on Base in the form of ERC20 tokens. Although this positive development enhances the infrastructure potential for Solana, its short-term impact on price remains limited.

Looking at the liquidation heatmap, a large number of long liquidation positions are clustered in the $121 to $122 range, forming a significant downward liquidity pool; meanwhile, the $128.5–$129.5 and $131.5–$133 ranges above are dense with short positions. Currently, the price is repeatedly pulled between liquidity on both sides, lacking effective momentum for a breakout.

Overall, Solana's price is at a critical range decision point. If lower-side liquidity is triggered, SOL may face further pullback; if short liquidations are triggered, a technical rebound could occur. Until a clear trend emerges, price forecasts for Solana should continue to focus on whale movements and liquidity changes.

12 月 25 日，Solana（SOL）价格持续承压，跌破短期关键支撑位后未能快速收复，市场情绪明显趋于谨慎。尽管 Solana 生态系统仍在推进基础设施与应用扩展，但当前行情更多由流动性与杠杆结构主导，而非基本面叙事。
从价格结构来看，SOL 近期基本维持在 122 美元至 145 美元的区间内震荡。多次反弹未能吸引持续买盘，导致高位抛压加重，交易者更倾向于围绕清算区间进行短线博弈，而非追逐趋势性上涨。

12 月 25 日，Solana（SOL）价格持续承压，跌破短期关键支撑位后未能快速收复，市场情绪明显趋于谨慎。尽管 Solana 生态系统仍在推进基础设施与应用扩展，但当前行情更多由流动性与杠杆结构主导，而非基本面叙事。

从价格结构来看，SOL 近期基本维持在 122 美元至 145 美元的区间内震荡。多次反弹未能吸引持续买盘，导致高位抛压加重，交易者更倾向于围绕清算区间进行短线博弈，而非追逐趋势性上涨。

技术指标方面，Solana 的 RSI 维持在 40 附近，处于偏弱的中性区间，显示动能不足；MACD 仍运行在信号线下方，表明短期下行压力尚未解除，市场尚未出现明确的趋势反转信号。

链上数据显示，Solana 的下一步走势可能高度依赖巨鲸行为。Onchain Lens 追踪到两名高杠杆巨鲸在 SOL 上采取了完全相反的策略。其中，一名地址持有 20 倍杠杆的 SOL 多头头寸，当前浮亏已超过 578 万美元；而另一名巨鲸则持有 20 倍杠杆的 SOL 空头头寸，累计盈利约 1100 万美元，并已开始逐步止盈。这种分化反映出市场对 SOL 中短期方向的高度分歧。

基本面方面，美国合规CEX宣布支持通过 Base 网络进行 SOL 的直接充值和提现，打通 Solana 与 Base 生态之间的资产流通路径。该集成降低了跨链交易摩擦，使 SOL 能够在 Base 原生 DeFi 应用中以 ERC20 形式使用。尽管该利好提升了 Solana 的基础设施想象空间，但短期内对价格的提振仍较为有限。

从清算热图来看，121 美元至 122 美元区域聚集了大量多头清算位，构成显著下行流动性池；而上方 128.5–129.5 美元及 131.5–133 美元区域则为空头密集区。当前价格在两侧流动性之间反复拉扯，缺乏有效突破动能。

整体来看，Solana 价格正处于关键区间选择阶段。若下方流动性被触发，SOL 或面临进一步回调；若空头清算被引爆，则可能迎来技术性反弹。在趋势明确前，Solana 价格预测仍需重点关注巨鲸动向与流动性变化。

Solana价格陷入122–145美元震荡区间，巨鲸多空博弈升级，SOL方向即将选择？

Solana price is stuck in the $122–$145 range, with the battle between bulls and bears intensifying. Will SOL choose a direction soon?

Recently, the price of Pippin (PIPPIN) has been continuously strengthening, attracting significant market attention. An unusual phenomenon is that despite many traders attempting to short PIPPIN, the cryptocurrency price continues to rise, forming a clear short squeeze pattern. This has also become a key factor driving the short-term upward trend.
From an on-chain perspective, the price movement of Pippin is not "natural." Bubblemaps data shows that only about 93 wallets control 80% of the PIPPIN token supply, with highly concentrated holdings, making the price more susceptible to influence from a small amount of capital, significantly increasing volatility risk. At the same time, over the past few months, neither the project team nor its official X platform account has made any substantial updates, with fundamental information noticeably lacking.

PIPPIN

Recently, the price of Pippin (PIPPIN) has continued to strengthen, attracting significant market attention. An unusual phenomenon is that despite many traders attempting to short PIPPIN, the cryptocurrency price keeps rising, forming a clear short squeeze pattern, which has also become an important reason for the short-term upward momentum.

From an on-chain perspective, the price movement of Pippin is not "natural." Bubblemaps data shows that only about 93 wallets control 80% of the PIPPIN token supply, with highly concentrated holdings, making the price more susceptible to influence from a small number of funds and significantly increasing volatility risk. Meanwhile, over the past few months, neither the project team nor its official X platform account have made any substantial updates, with fundamental information clearly lacking.

However, in the absence of a public narrative, the PIPPIN token surprisingly listed on Robinhood. This event has sparked market speculation, suggesting that there may be undisclosed internal expectations or trading logic. But so far, there is no concrete evidence to support this judgment.

From the derivatives market perspective, the open interest in PIPPIN contracts has reached approximately $3 billion to $4 billion. A large number of short positions have been forced to close during the price increase, creating chain-like covering, which further pushes the price higher. This structure indicates that future price volatility is likely to exhibit "non-linear" characteristics, and once liquidity directions change, the market could reverse rapidly.

Technically, PIPPIN has risen about 30% over the past 7 days, with the price temporarily breaking through the previous high of $0.528 and forming a volume-driven long bullish candle, then retreating below that level. Historical data shows that after reaching this area last time, the price retraced about 40%. Therefore, $0.528 has become a key support/resistance level.

If subsequent volume breakout and stabilization above this level occur, PIPPIN may challenge the $0.8 target in a high leverage environment; conversely, if bearish liquidity reasserts dominance, the price could drop sharply, repeating a severe correction.

The RSI indicator is currently approaching 60, indicating short-term bullish momentum, but combined with its highly concentrated token distribution and large open interest, relying solely on technical indicators makes it difficult to determine the medium- to long-term trend.

Overall, Pippin's price movement is more driven by liquidity and derivatives structure rather than fundamentals. For investors concerned about PIPPIN price forecasts, whether Pippin will crash or break through $0.8, the current stage requires more caution regarding high volatility risks rather than simply chasing the trend.

近期，Pippin（PIPPIN）价格持续走强，引发市场高度关注。一个反常现象是，尽管大量交易者试图做空 PIPPIN，加密货币价格却不断上涨，形成明显的逼空行情，这也成为推动短期涨势的重要原因。
从链上结构来看，Pippin 的价格走势并不“自然”。Bubblemaps 数据显示，仅约 93 个钱包就控制了 PIPPIN 80% 的代币供应，筹码高度集中，使得价格更容易受到少数资金影响，波动风险显著放大。同时，过去数月内，无论是项目方还是其 X 平台官方账号，几乎没有进行任何实质性更新，基本面信息明显缺失。

近期，Pippin（PIPPIN）价格持续走强，引发市场高度关注。一个反常现象是，尽管大量交易者试图做空 PIPPIN，加密货币价格却不断上涨，形成明显的逼空行情，这也成为推动短期涨势的重要原因。

从链上结构来看，Pippin 的价格走势并不“自然”。Bubblemaps 数据显示，仅约 93 个钱包就控制了 PIPPIN 80% 的代币供应，筹码高度集中，使得价格更容易受到少数资金影响，波动风险显著放大。同时，过去数月内，无论是项目方还是其 X 平台官方账号，几乎没有进行任何实质性更新，基本面信息明显缺失。

然而，在缺乏公开叙事的情况下，PIPPIN 代币却意外上线 Robinhood，这一事件引发市场猜测，认为可能存在未被披露的内部预期或交易逻辑。但截至目前，并无确凿证据支撑这一判断。

从衍生品市场来看，PIPPIN 的未平仓合约规模已达到约 30 亿至 40 亿美元。大量空头头寸在价格上涨过程中被迫平仓，形成连锁式回补，进一步推高价格。这种结构意味着，未来价格波动极可能呈现“非线性”特征，一旦流动性方向发生变化，行情可能快速反转。

技术面上，PIPPIN 在过去 7 天内上涨约 30%，价格一度突破 0.528 美元的前期历史高点，并形成放量长阳线，随后回落至该水平下方。历史数据显示，上一次触及该区域后，价格曾回调约 40%。因此，0.528 美元已成为关键多空分水岭。

如果后续放量突破并稳固站上该位置，PIPPIN 不排除在高杠杆环境下冲击 0.8 美元目标位；反之，若空头流动性重新占优，价格可能快速下探，重演剧烈回调。

RSI 指标目前接近 60，显示短期仍具看涨动能，但结合其高度集中的代币分布与高未平仓合约规模，仅凭技术指标难以判断中长期趋势。

总体而言，Pippin 价格走势更多由流动性与衍生品结构驱动，而非基本面支撑。对于关注 PIPPIN 价格预测、Pippin 是否会崩盘或冲击 0.8 美元的投资者而言，当前阶段更应警惕高波动风险，而非简单追逐趋势。

Pippin价格预测：过去7天上涨30%，PIPPIN能否冲击0.8美元？

Pippin Price Prediction: Up 30% in the Past 7 Days, Can PIPPIN Break Through $0.8?

Despite the ongoing high living costs and household budgets being squeezed by inflation, American consumers are not shying away from cryptocurrencies. On the contrary, the latest survey shows that crypto assets are gradually entering mainstream holiday spending scenarios, becoming a more cost-effective and future-oriented gift option.
According to the latest holiday spending survey released by Visa, about 28% of Americans are willing to receive cryptocurrencies as gifts during Christmas or holiday seasons, with this figure rising to 45% among Generation Z. This trend indicates that even with limited disposable income, American consumers remain strongly interested in digital assets.

Despite the ongoing high living costs and household budgets being squeezed by inflation, American consumers are not shying away from cryptocurrencies. On the contrary, the latest survey shows that crypto assets are gradually entering mainstream holiday spending scenarios, becoming a more "cost-effective" and future-oriented gift option.

According to the latest holiday spending survey released by Visa, about 28% of Americans are willing to receive cryptocurrencies as gifts during Christmas or holiday seasons, with this figure rising to 45% among Generation Z. This trend indicates that even with limited disposable income, American consumers remain strongly interested in digital assets.

From a macroeconomic perspective, although inflation has retreated from its post-pandemic highs, core living costs such as housing, food, energy, and insurance remain high. Wage growth has generally kept pace with inflation, preventing a significant loss of purchasing power, but after covering essential expenses, households have less room for investment or non-essential consumption.

In this environment, consumption has not disappeared but has undergone structural changes. Consumers are planning their shopping earlier, comparing prices more frequently, and leveraging technological tools to improve spending efficiency. The Visa survey shows that approximately 47% of American consumers use AI tools during holiday shopping to find gift ideas and compare prices, reflecting that "cost-conscious consumption" is becoming mainstream.

Cryptocurrencies are viewed in this context as an alternative to traditional non-essential goods. Compared to one-time purchases, crypto assets are seen by some consumers as more flexible, highly digital, and potentially valuable as long-term gifts. For the younger generation, cryptocurrencies, digital wallets, biometric payments, and cross-border e-commerce have naturally integrated into their digital financial lifestyles.

From a broader perspective, this trend reflects that the U.S. economy is in a phase of "cautious but stable" growth. Consumers have not fully regained confidence but have also not chosen to withdraw entirely; instead, they are shifting spending toward more efficient and potentially rewarding areas.

The continued penetration of cryptocurrencies into holiday spending indicates that they are gradually evolving from highly volatile speculative assets into financial tools accepted by ordinary households. During a period when inflation is cooling but confidence has not fully recovered, digital assets are filling the gaps left by traditional consumption, serving as a cautious way for Americans to bet on the future.

尽管生活成本持续高企、家庭预算受到通胀挤压，美国消费者并未远离加密货币。相反，最新调查显示，加密资产正逐步进入主流节日消费场景，成为一种更具“性价比”和未来预期的礼物选择。
根据 Visa 发布的最新假日消费调查，约 28% 的美国人表示愿意在圣诞节或假日期间收到加密货币作为礼物，而在 Z 世代人群中，这一比例高达 45%。这一趋势表明，即使在可支配收入受限的背景下，美国消费者对数字资产的兴趣依然强劲。

尽管生活成本持续高企、家庭预算受到通胀挤压，美国消费者并未远离加密货币。相反，最新调查显示，加密资产正逐步进入主流节日消费场景，成为一种更具“性价比”和未来预期的礼物选择。

根据 Visa 发布的最新假日消费调查，约 28% 的美国人表示愿意在圣诞节或假日期间收到加密货币作为礼物，而在 Z 世代人群中，这一比例高达 45%。这一趋势表明，即使在可支配收入受限的背景下，美国消费者对数字资产的兴趣依然强劲。

从宏观环境来看，通胀虽然已从疫情后的高点回落，但住房、食品、能源和保险等核心生活成本仍然居高不下。工资增长整体跟上了通胀节奏，避免了购买力大幅缩水，但家庭在支付必需开支之后，用于投资或非必需消费的空间明显收窄。

在这种环境下，消费并未消失，而是发生了结构性变化。消费者更早开始规划购物、更频繁地比价，并借助技术工具提高支出效率。Visa 调查显示，约 47% 的美国消费者在节日购物期间使用 AI 工具寻找礼物灵感和比较价格，反映出“精打细算型消费”正在成为主流。

加密货币正是在这一背景下被视为替代传统非必需品的选择。相比一次性消费品，加密资产被部分消费者视为更灵活、数字化程度更高、且可能具备长期价值的礼物形式。对年轻一代而言，加密货币、数字钱包、生物识别支付和跨境电商已自然融入其数字金融生活方式。

从更广泛的角度看，这一趋势反映出美国经济处于“谨慎但稳定”的阶段。消费者并未完全恢复信心，但也没有选择彻底收缩，而是将支出转向更具效率和潜在回报的领域。

加密货币在节日消费中的持续渗透，说明其正在从高波动性的投机资产，逐步演变为被普通家庭接受的金融工具。在通胀降温但信心尚未完全修复的阶段，数字资产正填补传统消费留下的空白，成为美国人谨慎押注未来的一种方式。

通胀压力下的意外选择：越来越多美国人把加密货币当作圣诞礼物

Unexpected choice under inflation pressure: More and more Americans are considering cryptocurrencies as Christmas gifts

BlockBeats News, December 25th, according to official sources, Aster's AI partner SIA has officially launched the full network address Aster Follow Agent platform. Users can copy the best-performing addresses across the network with one click via the SIA platform and place orders on Aster. While earning follow-up rewards, users also enjoy dual airdrop benefits from SIA and Aster. SIA is committed to leveraging AI technology to provide

BlockBeats News, December 25 — According to official sources, Aster's AI partner SIA has officially launched the full network address Aster Copy Trading Agent platform. Users can copy the most optimal trading addresses across the entire network with one click via the SIA platform and place orders on Aster. While earning copy trading rewards, users also enjoy dual airdrop benefits from SIA and Aster. SIA is dedicated to creating a more convenient and efficient trading experience for Web3 users through AI technology.

BlockBeats 消息，12 月 25 日，据官方消息，Aster 的 AI 合作伙伴 SIA 已正式发布全网地址 Aster 跟单 Agent 平台。用户可以通过 SIA 平台一键复制全网表现最优地址的交易，并在 Aster 下单。在获得跟单收益的同时，还享有 SIA 和 Aster 的双重空投收益。SIA 致力于通过 AI 技术，为

BlockBeats 消息，12 月 25 日，据官方消息，Aster 的 AI 合作伙伴 SIA 已正式发布全网地址 Aster 跟单 Agent 平台。用户可以通过 SIA 平台一键复制全网表现最优地址的交易，并在 Aster 下单。在获得跟单收益的同时，还享有 SIA 和 Aster 的双重空投收益。SIA 致力于通过 AI 技术，为 Web3 用户创建更为便捷高效的交易体验。

SIA正式发布全网地址Aster跟单Agent平台

SIA officially launches the Aster Copy Trading Agent platform for the entire network

Recently, the price of Dogecoin (DOGE) has been under continuous pressure. Data shows that DOGE has fallen about 2% in the past 24 hours, with a total decline of over 12% in the past month. Although the overall price structure still leans bearish, the downward momentum is slowing, and the market is approaching a critical decision point. In the next few trading days, it will be determined whether Dogecoin's price breaks below a key support level or stabilizes near the current position.
From a technical perspective, Dogecoin is currently operating along the lower boundary of a descending channel and has formed a typical bearish flag pattern. If the support in the $0.124–$0.120 range is broken, the price may further decline. However, on-chain data indicates that the so-called "breakdown zone" has not been fully confirmed, and short-term selling pressure is undergoing structural changes.

DOGE

Dogecoin

Recently, Dogecoin (DOGE) prices have been under continuous pressure. Data shows that DOGE has fallen about 2% in the past 24 hours, with a cumulative decline of over 12% in the past month. Although the overall price structure still leans towards a bearish trend, the downward momentum is slowing, and the market is approaching a critical decision point. In the coming trading days, it will be crucial to see whether Dogecoin breaks below key support levels or stabilizes near the current position.

From a technical perspective, Dogecoin is currently operating along the lower boundary of a descending channel and has formed a typical bearish flag pattern. If support in the $0.124–$0.120 range fails, the price may further decline. However, on-chain data indicates that the so-called "breakdown area" has not yet been fully confirmed, and short-term selling pressure is undergoing structural changes.

According to the HODL Waves on-chain indicator, the proportion of short-term traders holding positions for 1 week to 1 month has significantly decreased. This group once controlled about 7.73% of the circulating supply of Dogecoin at the end of November, but by late December, it had dropped to about 2.76%. This suggests that a large amount of short-term funds have exited early, helping to alleviate panic selling pressure near support levels.

Meanwhile, long-term holders are beginning to show mild signs of accumulation. Addresses with holding periods of 1 to 2 years have seen their supply share increase from approximately 21.84% to 22.34%. Although the increase is modest, it is generally seen as an early signal of weakened downside risk.

From on-chain activity, the total number of tokens spent across the network has decreased significantly, with DOGE transfer volume dropping from about 250 million coins to less than 100 million, a decline of over 60%. Historical experience indicates that a rapid cooling of on-chain activity often signals the completion of short-term selling pressure and creates conditions for a price rebound.

Regarding key price levels, $0.120 remains the core support for Dogecoin’s price movement. If the daily candle breaks below this level, DOGE may decline to the $0.112 area. Conversely, if the price reclaims above $0.133, it indicates a clear easing of selling pressure; a further breakthrough of $0.138 could confirm that bulls are regaining control, and the current decline is more likely just a temporary correction.

![DOGE价格预测](https://img-cdn.gateio.im/social/moments-b145d12592-992975f796-153d09-6d5686)

(Source: TradingView)

Overall, Dogecoin is at a crucial crossroads. While technical risks still exist, on-chain data shows decreasing speculative supply, increased participation by long-term investors, and declining trading activity—all factors that could support stabilization or even a rebound in price. Whether a true trend reversal occurs will depend on the success or failure of holding key support levels.

近期，狗狗币（Dogecoin，DOGE）价格持续承压。数据显示，DOGE 在过去 24 小时内下跌约 2%，近一个月累计跌幅超过 12%。虽然整体价格结构仍偏向空头，但下跌动能正在放缓，市场正接近关键方向选择阶段。未来几个交易日，将决定狗狗币价格是跌破关键支撑，还是在当前位置附近企稳。
从技术结构来看，狗狗币目前运行在下行通道的下沿，并形成典型的看跌旗形形态。若 0.124–0.120 美元区间支撑失守，价格可能进一步下探。然而，链上数据表明，所谓的“跌破区域”尚未完全确认，短期内的抛压正在发生结构性变化。

近期，狗狗币（Dogecoin，DOGE）价格持续承压。数据显示，DOGE 在过去 24 小时内下跌约 2%，近一个月累计跌幅超过 12%。虽然整体价格结构仍偏向空头，但下跌动能正在放缓，市场正接近关键方向选择阶段。未来几个交易日，将决定狗狗币价格是跌破关键支撑，还是在当前位置附近企稳。

从技术结构来看，狗狗币目前运行在下行通道的下沿，并形成典型的看跌旗形形态。若 0.124–0.120 美元区间支撑失守，价格可能进一步下探。然而，链上数据表明，所谓的“跌破区域”尚未完全确认，短期内的抛压正在发生结构性变化。

根据 HODL Waves 链上指标，持有时间在 1 周至 1 个月之间的短线投机者持仓比例大幅下降。该群体曾在 11 月底控制约 7.73% 的狗狗币流通供应，但到 12 月下旬已降至约 2.76%。这意味着大量短线资金已提前离场，有助于缓解支撑位附近的恐慌性抛售压力。

与此同时，长期持有者开始显现温和增持迹象。持币周期在 1 至 2 年的地址，其供应占比从约 21.84% 上升至 22.34%。虽然幅度不大，但通常被视为下行风险减弱的早期信号。

从链上活跃度来看，全网花费代币数量显著下降，DOGE 的转移规模从约 2.5 亿枚降至不足 1 亿枚，降幅超过 60%。历史经验显示，狗狗币链上活跃度快速降温，往往预示短期卖压释放完成，并为价格反弹创造条件。

关键价位方面，0.120 美元仍是决定狗狗币价格走势的核心支撑。一旦日线跌破该水平，DOGE 可能下探 0.112 美元区域。反之，若价格重新站上 0.133 美元，将表明抛压明显缓解；进一步突破 0.138 美元，则有望确认多头重新主导，当前下跌更可能只是阶段性回调。

![DOGE价格预测](https://img-cdn.gateio.im/social/moments-b145d12592-992975f796-153d09-6d5686)

（来源：TradingView）

综合来看，狗狗币正处于关键十字路口。技术面仍存风险，但链上数据显示，投机性供应减少、长期资金介入、交易活跃度下降，这些因素可能为价格企稳甚至反弹提供基础。是否真正转势，将取决于关键支撑位的得失。


狗狗币价格预测：链上数据暗示抛压减弱，DOGE价格或迎方向选择

Dogecoin Price Prediction: On-chain Data Suggests Reduced Selling Pressure, DOGE Price May Face a Directional Choice

report indicating a stability, a good move ahead.

Recent Bitcoin price declines have prompted the market to reassess the medium- and long-term outlook. As early as mid-November, Galaxy Trading analyst Beimnet Abebe pointed out that although Bitcoin temporarily held above the 50-week moving average, there remains a risk of further decline, with target ranges including the 100-week and even the 200-week moving averages. Evidence has shown that predictions based on the 50-week and 100-week moving averages have been fulfilled successively. Currently, the 100-week moving average remains stable at approximately $85,000, which closely overlaps with the previous key demand zone of $84,000 to $85,000, making it an important support level.
Abebe stated that if Bitcoin falls below $80,000, he would be willing to buy, indicating that some institutional analysts remain relatively optimistic about its medium- and long-term value. However, market sentiment is not entirely consistent. Some analysts believe that cryptocurrencies are gradually losing their early "disruptive" and "cool" attributes. Social platform users point out that the real core issue is whether Bitcoin and other crypto assets have enough real-world applications to compensate for the ongoing decline in retail participation and the resulting demand gap.

Recently, the decline in Bitcoin prices has prompted the market to reassess its medium- and long-term outlook. As early as mid-November, Galaxy Trading analyst Beimnet Abebe pointed out that although Bitcoin temporarily held above the 50-week moving average, there remains a risk of further decline, with target ranges including the 100-week and even the 200-week moving averages. Evidence has shown that the predictions based on the 50-week and 100-week moving averages have been realized successively. Currently, the 100-week moving average remains stable at approximately $85,500, which closely overlaps with the previous key demand zone of $84,000 to $85,000, serving as an important support level.

Abebe stated that if Bitcoin falls below $80,000, he would be "willing to buy," indicating that some institutional analysts remain relatively optimistic about its medium- and long-term value. However, market sentiment is not entirely consistent. Some analysts believe that cryptocurrencies are gradually losing their early "disruptive" and "cool" attributes. Social media users point out that the core issue lies in whether Bitcoin and crypto assets have enough real-world applications to compensate for the demand gap caused by the continuous decline in retail participation.

Data shows that discussions and engagement around cryptocurrencies on social media have significantly decreased. Although institutional funds, Bitcoin spot ETFs, and traditional financial participants have increased the legitimacy and acceptance of the asset, this has also led the market to gradually diverge from the early narrative of decentralization and permissionless innovation. This structural change may be reshaping Bitcoin’s long-term investment logic.

In terms of volatility, Anthony Pompliano, founder of Professional Capital Management, noted that Bitcoin’s current price volatility has likely decreased by about half compared to previous cycles. Since the recent sharp correction, funds flowing into spot Bitcoin ETFs have mostly been outflows, but the overall decline is only about 33%, far less than the 70% to 80% deep adjustments common in historical bear markets. This is mainly believed to be closely related to the increased proportion of institutional investors.

Meanwhile, CryptoQuant analyst Axel Adler Jr. mentioned that the real MVRV indicator has shown restraint in this cycle, even when reaching new highs, it has not broken through key thresholds, indicating a maturing market. Overall, Bitcoin may be entering a phase of low volatility, low narrative, and high rationality, which both limits extreme declines and may suppress bubble-like surges.

近期，比特币价格回落引发市场对中长期走势的重新审视。早在11月中旬，Galaxy Trading 分析师 Beimnet Abebe 就指出，比特币虽一度守住50周移动平均线，但仍存在继续下探的风险，目标区间包括100周甚至200周移动平均线。事实证明，50周和100周均线的预测已相继兑现，目前100周移动平均线稳定在约8.55万美元，与此前8.4万至8.5万美元的关键需求区间高度重合，成为重要支撑位。
Abebe 表示，若比特币价格跌破8万美元，他将选择“乐意买入”，显示部分机构分析师对中长期价值仍持相对乐观态度。然而，市场情绪层面却并不一致。部分分析认为，加密货币正逐渐失去早期“颠覆性”和“酷炫”属性。社交平台用户指出，真正的核心问题在于，比特币和加密资产在现实世界的实际应用，是否足以弥补散户参与度持续下降所带来的需求缺口。

近期，比特币价格回落引发市场对中长期走势的重新审视。早在11月中旬，Galaxy Trading 分析师 Beimnet Abebe 就指出，比特币虽一度守住50周移动平均线，但仍存在继续下探的风险，目标区间包括100周甚至200周移动平均线。事实证明，50周和100周均线的预测已相继兑现，目前100周移动平均线稳定在约8.55万美元，与此前8.4万至8.5万美元的关键需求区间高度重合，成为重要支撑位。

Abebe 表示，若比特币价格跌破8万美元，他将选择“乐意买入”，显示部分机构分析师对中长期价值仍持相对乐观态度。然而，市场情绪层面却并不一致。部分分析认为，加密货币正逐渐失去早期“颠覆性”和“酷炫”属性。社交平台用户指出，真正的核心问题在于，比特币和加密资产在现实世界的实际应用，是否足以弥补散户参与度持续下降所带来的需求缺口。

从数据来看，加密货币在社交媒体上的讨论度和互动率明显下滑。虽然机构资金、比特币现货ETF以及传统金融参与者提升了资产的合法性和接受度，但也让市场逐步偏离早期去中心化、无需许可的理想叙事。这种结构性变化，可能正在重塑比特币的长期投资逻辑。

在波动性方面，Professional Capital Management 创始人 Anthony Pompliano 指出，比特币当前的价格波动率相比过去周期可能已下降约一半。自近期大幅回调以来，现货比特币ETF资金流多为净流出，但整体跌幅仅约33%，远低于历史熊市中常见的70%至80%深度调整。这主要被认为与机构投资者占比提升密切相关。

与此同时，CryptoQuant 分析师 Axel Adler Jr. 提到，真实 MVRV 指标在本轮周期中表现克制，即便创下新高也未突破关键阈值，显示市场趋于成熟。综合来看，比特币或正进入低波动、低叙事、高理性的阶段，这既限制了极端下跌，也可能抑制泡沫式上涨。

分析师警告：比特币或进入“去酷化”阶段，2026年一季度走势不明

Analyst warns: Bitcoin may enter a "de-cooling" phase, with uncertain trends in Q1 2026

Gate News bot message, according to the official Gate announcement
Gate Earn now offers fixed-term financial products for FET, APE, and PYTH. These financial products provide three lock-up periods: 7 days, 14 days, and 30 days for users to choose from.

PYTH

Gate News bot 消息，据Gate官方公告

Gate余币宝现已上线FET、APE、PYTH定期理财产品。该理财产品提供7天、14天、30天三种锁仓周期供用户选择。

Gate News bot 消息，据Gate官方公告
Gate余币宝现已上线FET、APE、PYTH定期理财产品。该理财产品提供7天、14天、30天三种锁仓周期供用户选择。

Join 40M users in our growing community

Hot Gate Fun

News

Analyst: Recently, the crypto market is not suitable for using options data as trading signals

XRP price decline impacts institutional holdings, XRP Treasury Company Evernorth faces over $200 million in unrealized losses

IDEX (IDEX) increased by 17.07% in the last 24 hours

Bitcoin ETF sees $175 million net outflow in a single day, analysts: BTC may retreat to $40,000

Hyperliquid Foundation burns $912 million worth of HYPE. Can the token price return to $40?

Pin