PA Daily | Upbit and Binance launch Movement (MOVE); Pudgy Penguins surpasses BAYC to become the second largest NFT project by market value

Today's news tips:

Binance launches MOVE and launches HODLer airdrop event

BabyDoge: Puppy.fun will be launched this week, part of the fees will be used for token destruction

The Political Bureau of the CPC Central Committee: A more proactive fiscal policy and a moderately loose monetary policy will be implemented next year.

Reuters: Trump's second son's "whale exclusive" pass at the Abu Dhabi BTC conference costs $9,999

PEPE's market value exceeds $11 billion, setting a new high, surpassing Uniswap

Upbit will launch Movement (MOVE) in the KRW, BTC, and USDT markets

Pudgy Penguins surpasses BAYC to become the second largest NFT project by market value

US Bitcoin ETF Inflows Near $10 Billion Since Trump's Election

Regulatory News

The Political Bureau of the CPC Central Committee: A more proactive fiscal policy and a moderately loose monetary policy will be implemented next year

According to Cailianshe, the Political Bureau of the CPC Central Committee held a meeting today to deploy economic work for next year. The meeting emphasized the need to seek progress while maintaining stability, promote stability through progress, implement a more proactive fiscal policy and a moderately loose monetary policy, strengthen extraordinary counter-cyclical adjustments, and improve the forward-looking and effectiveness of macroeconomic regulation. The meeting proposed to boost consumption, improve investment efficiency, and expand domestic demand; promote the construction of a modern industrial system with scientific and technological innovation; deepen economic system reform and implement landmark measures; expand high-level opening up to the outside world, stabilize foreign trade, and stabilize foreign investment. At the same time, it is necessary to effectively prevent and resolve risks in key areas, consolidate the results of poverty alleviation, promote new urbanization and rural revitalization, and promote urban-rural integrated development. The meeting also emphasized increasing the implementation of regional strategies, promoting green transformation and development, and strengthening people's livelihood security to enhance people's sense of gain and happiness.

Reuters: Trump's second son's "whale exclusive" pass at the Abu Dhabi BTC conference costs $9,999

According to Reuters, Eric Trump, the second son of former US President Donald Trump and current executive vice president of the Trump Organization, and Steve Witkoff, the new White House Middle East envoy and co-founder of World Liberty Financial, will attend the Abu Dhabi Bitcoin Conference. It is reported that Eric Trump will deliver a keynote speech at the conference, followed by a "whale-only" chat in the VIP lounge of the conference, and Steve Witkoff will speak separately to those more exclusive groups, who need to spend $9,999 to purchase a "whale" pass.

South Korean President Yoon Seok-yeol is barred from leaving the country; stock market losses extend

According to a report by Yonhap News Agency cited by Jinshi, the head of the South Korean Senior Officials Corruption Investigation Office ordered a ban on South Korean President Yoon Seok-yeol from leaving the country. In addition, the South Korean Ventures Index (KOSDAQ) plunged 5% during the day, and the South Korean KOSPI index fell by 2.6%.

Czech Republic implements financial reforms to become crypto hub, allows crypto firms and investors to open bank accounts

The Czech Republic has approved extensive financial market reforms aimed at promoting the cryptocurrency and blockchain sectors, in a move aimed at positioning itself as a cryptocurrency hub, Crowdfundinsider reported. The newly passed legislation reportedly addresses key obstacles faced by cryptocurrency companies and investors, demonstrating the country's determination to embrace digital finance. At the heart of the reforms is a guarantee that cryptocurrency companies and their investors can open bank accounts without undue restrictions, effectively removing a significant operational barrier that previously hampered their activities. The change is expected to simplify the financial operations of cryptocurrency businesses, enhancing their stability and growth prospects in the country. In addition, the bill also introduces a three-year tax holiday for cryptocurrency investments (as reported last week).

US think tank National Center for Public Policy Research proposes to Amazon to establish a Bitcoin Treasury

According to Cointelegraph, the National Center for Public Policy Research in Washington, D.C., a think tank that advocates for the free market, has submitted a shareholder proposal to Amazon, advocating that Bitcoin be considered as a corporate treasury strategy at the April 2025 shareholder meeting. The proposal reads: "At a minimum, Amazon should evaluate the benefits of holding part of its assets (even as little as 5%) in the form of Bitcoin."

The think tank pointed out in the letter that the current US consumer price index (CPI) for measuring inflation is 4.95%, but this indicator is "extremely bad" in measuring the real depreciation of currency. The author believes that the real inflation rate may be twice the CPI reported figure; this has greatly eroded Amazon's $88 billion in cash and short-term cash equivalents. In order to protect shareholder value, Bitcoin should be used to hedge this risk.

The think tank wrote: "As of December 6, 2024, the price of Bitcoin has increased by 131% year-on-year, outperforming corporate bonds by an average of 126%. Over the past five years, the price of Bitcoin has increased by 1,246%, outperforming corporate bonds by an average of 1,242%."

Argentina’s securities regulator announced that it would allow foreign investment products related to various crypto ETF opportunities to enter the market

According to Bitcoin.com, Argentina’s securities regulator CNV announced a market-wide initiative that allows foreign investment products related to a variety of cryptocurrency ETF opportunities (including Ethereum and Bitcoin, gold, etc.) to enter the market. Roberto Silva, chairman of the Argentine Securities Regulatory Agency, emphasized: “Through these measures, we are raising Argentina to the standards of the most developed international markets.”

Iran is changing its stance on digital currencies, focusing on regulation rather than restrictions

According to Bitcoin.com, Iran is changing its stance on digital currencies from imposing restrictions to focusing on regulation, according to Abdolnaser Hemmati, Iran's Minister of Economic Affairs and Finance. At an event in Tehran, Hemmati emphasized the government's plan to mitigate the economic risks posed by digital currencies while taking advantage of their potential benefits. He emphasized the authority of the Central Bank of Iran in managing digital assets and highlighted the potential of digital currencies in promoting youth employment, increasing economic assets and offsetting sanctions.

Project News

BabyDoge: Puppy.fun will be launched this week, part of the fees will be used for token destruction

Meme project BabyDoge officially announced that its BNB chain-based meme incubation platform Puppy.fun will be launched this week. Part of the platform fees will be used to destroy BabyDoge tokens to further reduce the circulating supply.

Binance launches MOVE and launches HODLer airdrop event

Binance announced the launch of its third airdrop project, Movement (MOVE), the first Ethereum-based Move-EVM L2 project that aims to bring Move's security features to Ethereum. Users who have subscribed BNB to Simple Earn flexible or locked products between December 2 and December 5, 2024 will receive MOVE airdrop rewards. The MOVE airdrop page is expected to be online in 5 hours, and the tokens will be distributed to users' spot wallets 1 hour before trading begins. Binance will launch MOVE at 21:00 (Beijing time) on December 9, and open MOVE/BTC, MOVE/USDT, MOVE/BNB, MOVE/FDUSD and MOVE/TRY trading pairs. The total supply of MOVE is 10 billion, of which 2% (200 million) will be used for HODLer airdrops, and another 5% will be allocated to Launchpool 6 months after spot listing. The listed circulation is 22.5% (2.25 billion).

Upbit will launch Movement (MOVE) in the KRW, BTC, and USDT markets

According to the official announcement, South Korean cryptocurrency exchange Upbit will launch Movement (MOVE) in the Korean won, BTC, and USDT markets, and trading will begin at 21:00 local time today.

Pudgy Penguins surpasses BAYC to become the second largest NFT project by market value

Coingecko data shows that Pudgy Penguins' current market value is approximately US$772 million, surpassing the market value of Bored Ape Yacht Club (US$755 million) to become the second largest NFT project by market value.

XAI: Tiny Sentry Keys will be launched on December 13

XAI, a gaming blockchain on Arbitrum, announced on the X platform that tiny Sentry Keys will be launched on December 13, which is the XAI ecosystem airdrop battle pass. XAI mentioned that the current OG Sentry Key holders have received about $300 million in rewards.

Zilliqa is back online after hours of downtime

The public chain Zilliqa said on the X platform that the network has now resumed full operation. Earlier, Zilliqa reported at around 1 a.m. today that the network encountered technical problems that led to the interruption of block production, and then at around 5:53 it said that it was fully reinitialized and promised that this particular problem would not appear in the new network to be released.

Magic Eden CEO says he and his company plan to lock up their ME token holdings for 18 months

Magic Eden co-founder and CEO Jack Lu posted on X that Magic Eden is committed to long-term development and has no intention of prioritizing short-term price changes. In order to redouble our efforts, my co-founder and I will lock our ME tokens for 18 months.

Binance responds to USUAL and ACX market value data errors: We have contacted the project party to update CMC data and will improve the information verification process

Binance said in a statement: "We have noticed the recent community discussion about the supply data of USUAL and ACX tokens, and have conducted an internal investigation as soon as possible. The specific reasons for the accident are as follows: Binance directly uses CoinMarketCap (CMC) data to display the token circulation information of the project on the 'Trading Page' and 'Price Page'. Therefore, according to the past process, when the data of the project party is not updated, the data on the CMC and Binance pages will also be affected. Regarding ACX: On December 6, the Binance team discovered that the circulation data of ACX was incorrect, and immediately contacted the project party to correct the data on CMC; Regarding USUAL: The change in the token supply information is mainly because CMC and the project party have different standards for the definition of liquidity and how to quote data. After discussion, the project party has also completed the correction on CMC. As mentioned above, we have identified the root cause of the problem and conducted a post-analysis. In the future, we will strive to organize and improve the coordination and process between the project party, CMC and Binance on the display of token circulation and other related information, so that the key information of the token can be verified as soon as possible before the token goes online, and ensure that the information is accurate to avoid similar problems." Previously, a user of the X platform said: "The reason for USUAL's pull-up is that the original total amount of the token was 4 billion, but now it has been directly changed to 338 million, which is equivalent to full circulation; the reason for ACX's dumping is that the circulation of the token was 138 million when it was launched, and then it was directly changed to 332 million, and the circulating market value directly increased by 2.5 times."

Zilliqa: The network is undergoing a full reinitialization due to technical issues that caused block production to be interrupted

The public chain Zilliqa reported at around 1 a.m. today that the network encountered technical problems that led to the interruption of block production, but the funds are safe. All partners are strongly advised to temporarily stop any deposits or withdrawals on the network while this problem is being resolved. Later, at 05:53, Zilliqa reported: "The team tried to initiate a quick restart to minimize the time required to restore the network. Unfortunately, this approach was not successful, and a full reinitialization of the network is now underway. We will keep you informed of progress. Preliminary investigations indicate that the problem is similar to previous outages. This particular problem will not appear in the brand new network we are preparing to release in the near future." As of now, Zilliqa officials have not released any other new progress.

Important data

BABYDOGE breaks through $0.0(8)6, up 46% in 24 hours

According to OKX data, BABYDOGE briefly broke through $0.0(8)6, and rose 46% in 24 hours, currently trading at $0.0(8)5935.

A whale sold PEPE that he had held for two months, worth about $3.21 million, making a profit of $2.1 million

According to Onchain Lens monitoring, a PEPE whale deposited 121.75 billion PEPE, worth about $3.21 million, into the exchange after being silent for two months. The whale held PEPE for two months and made a profit of $2.1 million. The whale also deposited 421.74 billion MOG, worth $1 million, into the exchange 13 days ago, making a profit of $388,000.

Iran’s Crypto Holdings Equivalent to One-Third of the Country’s Gold Market

Economist Mohammad Sadegh Alhosseini said that Iran holds cryptocurrencies worth between $30 billion and $50 billion, about a third of the country's gold market, according to Bitcoin.com. Iran's daily cryptocurrency trading volume is about $143 million (100 trillion rials). The Central Bank of Iran (CBI) and the Ministry of Finance are developing measures to increase transparency in the cryptocurrency market, which has been used to circumvent U.S. sanctions on the international banking industry. Last Saturday, the CBI released a policy paper aimed at aligning cryptocurrency trading with Iran's anti-money laundering and tax laws. Alhosseini warned that stricter regulation could subject companies that evade sanctions to U.S. penalties, which would make the CBI responsible. He suggested that private entities could play a role in organizing the market and reducing the risk of direct government supervision.

PEPE's market value exceeds $11 billion, setting a new high, surpassing Uniswap

Coingecko data shows that the market value of Meme coin PEPE has exceeded US$11 billion and is now reported at US$11.174 billion, setting a new high, surpassing Uniswap (UNI)'s market value of US$10.792 billion to become the 23rd largest cryptocurrency in the world.

Amber Group deposited 12 million IDs to Binance today, equivalent to approximately $7.56 million

According to The Data Nerd, 2 hours ago, Amber Group deposited a total of 12 million IDs (about 7.56 million US dollars) to Binance. 4 days ago, it received 20 million IDs (about 12.62 million US dollars) from a wallet (probably belonging to DWF Labs). This is the last ID in their portfolio.

US Bitcoin ETF Inflows Near $10 Billion Since Trump's Election

Nearly $10 billion has poured into U.S. ETFs that invest directly in Bitcoin since Donald Trump was elected president, with people betting that his embrace of the cryptocurrency industry will herald a market boom. The dozen funds, launched by issuers including BlackRock Inc. and Fidelity Investments, attracted about $9.9 billion in net inflows in the period after Election Day on Nov. 5, helping the group’s total assets grow to about $113 billion, according to data compiled by Bloomberg.

Research: Hyperliquid's YTD revenue reaches $96 million, making it the 9th most profitable crypto project this year

According to research by @stevenyuntcap from Yunt Capital, Hyperliquid platform revenue includes instant listing auction fees, HLP market makers (MM) profit and loss, and platform fees. The first two are public information, but the team recently explained the last source of revenue. Based on this, it can be estimated that Hyperliquid's year-to-date revenue is $44 million, of which HLP is $40 million; HLP strategy A is -$2 million, HLP strategy B is $2 million; and revenue from liquidation is $4 million. When HYPE was launched, the team used the Assistance Fund wallet to buy HYPE on the market; assuming that the team does not have multiple USDC AF wallets, USDC AF's year-to-date profit and loss is $52 million. Therefore, adding HLP's $44 million and USDC AF's $52 million, Hyperliquid's year-to-date revenue is approximately $96 million, surpassing Lido to become the 9th most profitable crypto project in 2024.

The whale with a band winning rate of 84.2% has started the 20th ETH band and has bought 4005 ETH so far

PANews reported on December 9 that according to the monitoring of on-chain analyst @ai_9684xtpa, the whale with a band winning rate of 84.2% opened the 20th ETH band two hours ago. This band position was completed by two addresses: Address 0x6c2...A4777: bought 2005 WTH at an average price of $3979 on the chain; Address 0xC37...6acaC: withdrew 2000ETH from Binance at an average price of $3965. Therefore, a total of 4005 ETH (total value of $15.91 million) has been purchased so far, with an average cost of $3972.

Data: Last week, the overall net inflow of BTC ETF was US$2.775 billion, and the total net inflow of ETH ETF reached US$838 million

Lin Chen, head of Asia Pacific business at Deribit, wrote on X that the buying sentiment of BTC ETF remained strong last week, with an overall net inflow of US$2.775 billion and an increase of 28,606.26 BTC. On Thursday, the price of BTC successfully exceeded US$100,000. Last week, BlackRock continued to lead the increase, absorbing 26,880.87 BTC in a single week, accounting for 81.7% of the total increase. On the contrary, Grayscale continued to reduce its holdings by 3,113.12 BTC, and the rest of the institutions maintained a net inflow. Last week, ETH ETF was relatively strong, with a single-day net inflow of 111,567.04 coins, a total weekly net inflow of US$838 million, and a net increase of 222,946.99 coins. However, ETHE once again had a net outflow for five consecutive days (reaching 27,180.27 coins), and the main increase in holdings was still BlackRock and Fidelity, which increased their holdings by 152,711.02 and 79,052.72 ETH respectively. In addition, the current ETH/BTC exchange rate has also successfully rebounded to nearly 0.04.

The supply of stablecoin USDe has exceeded $5 billion, doubling from mid-October

Token Terminal data shows that the supply of Ethena Labs' stablecoin USDe has exceeded $5 billion (Defillama data shows that it is currently $5.27 billion). Since mid-October, the supply of USDe has doubled.