Well-known trader Eugene Ng Ah Sio published his views on the altcoin market on X: "Altcoins (Alts) quickly fell back to these levels again in less than 48 hours after forming the lower shadow lows (wick lows), indicating that investors are extremely anxious about holding spot assets and are eager to sell. The market may enter a longer adjustment phase, or fall rapidly in a short period of time." Note: The lower shadow (Wick Lows) is a thin line extending downward from the body in the candlestick chart. In the positive line, it is the difference between the opening price and the lowest price of the day; in the negative line, it is the difference between the closing price and the lowest price of the day. Generally speaking, the reason for the lower shadow is that the bulls are stronger than the bears.

Dune data shows that the Linea mainnet has bridged 805,963 ETH, with 1,228,845 transactions and 569,710 interactive addresses.

According to Coinglass data, the entire network had a liquidation of $24.5597 million in the past hour, of which long orders had a liquidation of $24.0097 million and short orders had a liquidation of $549,900. In addition, a total of 143,138 people worldwide had their positions liquidated in the past 24 hours, with a total liquidation amount of $356 million.

Interpol has issued a "Red Notice" for Hex founder Richard Schueler, also known as Richard Heart, for allegedly committing tax fraud and assault. source: https://cointelegraph.com/news/hex-founder-richard-heart-interpol-wanted-list-red-notice?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

On Dec 22, 2024, 05:09 AM(UTC). According to Binance Market Data, Bitcoin has dropped below 96,000 USDT and is now trading at 95,990.320313 USDT, with a narrowed 1.72% decrease in 24 hours.

OKX market data shows that BTC fell below 96,000 USDT and is now at 95,960 USDT, a 24-hour drop of 1.71%. (This newsletter is generated with the assistance of AI)

OKX market data shows that ETH fell below 3300 USDT and is now at 3299.12 USDT, a 24-hour drop of 5.54%. (This newsletter is generated by AI)

Goldrepublic content architect Alexej Jordanov wrote that the BRICS countries have shown strong interest in developing a gold-backed digital currency as part of efforts to reduce international trade's reliance on the US dollar. The article was published by the Official Monetary and Financial Institutions Forum (OMFIF) on Friday. Jordanov discussed how geopolitical changes, including Russia's exclusion from the SWIFT payment network, have prompted the European Union to explore alternative settlement systems. If the proposed single currency is implemented, it will likely be pegged to gold and a basket of BRICS currencies, with distributed ledger technology (DLT) providing transparency and security. US President-elect Trump has said he may impose a 100% tariff on BRICS countries if they launch a currency that challenges the dominance of the US dollar. Whether this stance will lead to concrete action after Trump takes office remains to be seen. "For the BRICS countries, a gold-backed digital currency can bring great benefits. Reduced transaction costs and reduced exchange rate volatility are some of the tangible benefits." He detailed that the BRICS countries account for 40% of the world's population and generate more than 30% of global GDP, slightly more than the G7. Despite their economic strength, the U.S. dollar still dominates global trade, with BRICS currencies playing a smaller role. Intra-BRICS trade has grown 56% since 2017 and accounts for 37% of total transactions within the group in 2022. Jordanov believes that if a gold-based currency is implemented, transaction fees and exchange rate risks could be reduced. The article outlines how the system would work: "By tokenizing gold reserves, each digital unit would be backed by a tangible asset stored in a secure vault and regularly audited to ensure accountability. Smart contracts could dynamically adjust currency weights, reflecting trade patterns and economic conditions. This would enable real-time settlement, reduce delays and foster trust between participants. Such a system could even attract countries outside the BRICS that seek alternatives to the dollar-dominated network, potentially increasing the BRICS group's share of global trade to more than the current 18%." He noted that the BRICS hold a total of 5,700 tons of gold, or 16% of global reserves, while the G7 holds 17,500 tons, or 49%. Jordanov acknowledged the potential benefits but also highlighted the challenges, stating: “Some of the potential benefits of a gold-backed digital currency are clear, but implementation is not easy. Effective coordination among the BRICS countries is required, along with investment in technological infrastructure. Geopolitical obstacles, including potential sanctions and tariffs, add further complexity. Nonetheless, with its strategic gold reserves and economic clout, the BRICS group is likely to continue to advance the idea of ​​reshaping global finance and offering an alternative to the dollar-centric order.” (Bitcoin.com)

While last week's dip tested RNDR's resilience, the altcoin has strongly bounced back, reclaiming investor confidence in a short span. source: https://ambcrypto.com/render-can-whales-push-rndr-to-8-13-after-a-40-dip/

A WSJ survey reveals crypto hedge funds banking issues over three years, with 120 out of 160 funds facing challenges not seen in other investment sectors. source: https://coincu.com/298231-crypto-hedge-funds-banking-issues-persist

This week, 29 blockchain startups raised a total of $752.2 million in funding. Bitcoin mining and hosting company Riot received $594.4 million in funding.

Who will pay for these bonds? Especially in the context of the Fed's continued quantitative tightening (QT), there is great uncertainty about the purchasing power and willingness of institutional investors, who are traditionally considered to be the main buyers.

CoinDesk published a report in late November detailing how Justin Sun ate a banana by contemporary artist Maurizio Cattelan that he purchased from Sotheby’s for $6.2 million.

As the second-generation game of Telegram, Elfbird has disruptive innovation, and its gameplay is more interesting and its ecology is more complete.

Golden Finance launched the 2546th issue of "Golden Morning 8", a morning report on the cryptocurrency and blockchain industry, to provide you with the latest and fastest digital currency and blockchain industry news.

When Satoshi Nakamoto launched Bitcoin, he probably didn’t expect that this “spark” would have such a “raging fire” effect.

The Web3 industry is developing so fast that new things appear every day. Therefore, many daily thoughts are worth recording.

Usual can be described as a "vampire" attack on USDT/USDC, just like Sushi's "vampire" attack on Uniswap in the summer of DeFi in 2020

​The 2024 U.S. presidential election has become one of the most watched elections in recent years.

人工智能,算力,AI的新视角：从算力之战到能源之争 金色财经,重视核电与天然气在 AI 时代的机会。