Daily News | BTC Returns Above $98,000, PHA Rises 70% Within Day, Leading the Market

Crypto Daily Digest: BTC ETFs have experienced significant outflows for 4 consecutive days, with Lido TVL leading the DeFi eco

According to Farside Investors data, yesterday’s net outflow from US Bitcoin spot ETFs was $340 million. BlackRock IBIT had a net outflow of $190 million, Fidelity FBTC had a net outflow of $83 million, and Ark ARKB had a net outflow of $75 million.

Yesterday, the net inflow of US Ethereum spot ETF was $54 million. BlackRock’s ETHA inflow was $44.8 million, and Fidelity’s FETH inflow was $3.5 million.

Data: Bitcoin and Altcoins recovered well before Christmas, and Whale Wallet’s continued accumulation will continue the bull market

According to Santiment data, Bitcoin and Altcoins have recovered well before Christmas, with Bitcoin prices rebounding to $99,000. Current distribution of Bitcoin wallet addresses:

-Holding 0-0.1 BTC: 50.17 million;
-Holding 0.1-10 BTC: 4.31 million;
-Holding 10-1,000 BTC: 150,130;
-Holding over 1,000 BTC: 2,050;

Analysis suggests that as long as the number of large and whale wallets (the latter two groups) continues to grow and maintain the accumulation trend from 2024, there is a high probability that the bull market will continue.

The total net deposits of Aave and Lido exceeded $70 billion for the first time, accounting for 45.5% of the total deposits of the top 20 DeFi Apps

According to data from TokenTerminal, the total net deposits of lending protocol Aave and liquidity staking protocol Lido exceeded $70 billion for the first time in December (currently falling back to $67.37 billion). Among them, Aave ranked first with $34.3 billion, followed closely by Lido with $33.1 billion. The two major protocols together account for 45.5% of the total deposits in the top 20 DeFi applications.

In terms of lock up volume (TVL), Lido leads the DeFi eco with $33.8 billion, while Aave ranks second with $20.6 billion. Over the past 30 days, Aave’s revenue has increased by 27.5% to $12.5 million, while Lido’s revenue has increased by 24% to $9.6 million. The total lock up volume of DeFi in 2024 has increased by 107% to $185 billion, and on December 16, it briefly exceeded $212 billion. (CryptoSlate)

Over the past week, the average increase in top NFTs reached 6.4%, outperforming the average performance of the crypto market at -8.6%

According to CryptoSlate, NFT Price Floor data shows that the average increase of the top ten NFT series in the past 7 days has reached 6.4%, significantly better than the average performance of the crypto market at -8.6%. Among them, Space Doodles led the way with a 44.7% increase, followed closely by Lil Pudgys and Doodles with 35.1% and 34.8% respectively. Azuki and Pudgy Penguins also recorded a positive growth of over 14%.

However, the overall trading activity in the market remains weak. The weekly trading volume of Ethereum NFT was $129 million, a decrease of 28.5% compared to the previous period; The transaction volume of NFTs on the Bitcoin and Solana chains was $29.3 million and $24.3 million, respectively, a decrease of 46% and 38.5% month on month. There is still a significant gap between mainstream NFT series and historical highs: CryptoPunks has fallen 65% from its peak of 114 ETH in October 2021, BAYC has fallen 87% from its peak of 128 ETH in April 2022, and MAYC has fallen 91% from its peak.

Market Trends: PHA surged 70% within the day, leading the market, while Grayscale concept tokens such as BAT and LPT rose

Market Hotspots

The AI concept token PHA surged, leading the market with a intraday increase of over 70%; Although PHA surged yesterday, it still fell more than 80% from its historical high of $1.24; In the most popular AI market of this round, PHA currently has a market cap of $170 million. Compared to leading protocols and AI concept meme coins in the same market, the hot PHA may still have great potential;

The NFT project Pugdy Penguins token PENGU surged nearly 40%, with a current circulating market cap of $2.4 billion, ranking 56th in the entire market; The current huge market cap of PENGU and the lack of any usage or consumption scenarios seem to indicate that the upward trend of PENGU is unlikely to continue;

The concept coins BAT and LPT launched by Grayscale rose. Previously, the price of another token ZEN launched by Grayscale doubled within two days, stimulating the rise of other low-market-cap tokens in Grayscale’s holdings; The holdings of Grayscale BAT and LPT have not significantly increased, and the recent rise is clearly due to market behavior rather than Grayscale’s purchases.

Mainstream Coins

BTC returned above $98,000 and gained support below the daily average. In the medium to long term, BTC remains at a low price;

ETH showed strong performance, and the large influx of ETH ETFs from BlackRock has supported the current price of ETH. Only when ETH remains strong can it bring about a bull market for Altcoins;

Altcoins are generally rising, market hotspots are scattered, and there are more opportunities on the chain.

Macro News: The three major US stock indices collectively closed higher, and the US stock market is closed for Christmas today

The three major indexes of the US stock market collectively closed higher, with the S&P 500 index rising 1.10% to 6,040.04 points; The Dow Jones Industrial Average rose 0.91% to 43,297.03 points; The Nasdaq index rose 1.35% to settle at 20,031.13 points. The benchmark 10-year Treasury yield is 4.59%, while the 2-year Treasury yield, which is most sensitive to the Federal Reserve policy rate, is 4.29%.

Currently, investors are focusing on the progress of the White House inauguration ceremony of US President elect Trump on January 20. Analysts say that the order of policy implementation after Trump takes office is currently unclear, and there is strong uncertainty in the future.

In addition, the Fed’s interest rate setting committee will welcome new voting members, including several hawkish officials. At the same time, the current resurgence of inflation concerns has added a new layer of complexity to the Fed’s decision-making.