Fr. Mrz 1st, 2024

On December 9th, according to Cointelgraph, the National Vulnerability Database (NVD) of the United States has marked Bitcoin inscriptions as a cybersecurity risk, calling for attention to security vulnerabilities developed by Ordinals Protocol in 2022.

According to database records, in certain versions of Bitcoin Core and Bitcoin Knot, data carrier limitations can be bypassed by obfuscating data into code. Being added to the NVD list means that specific network security vulnerabilities have been identified, cataloged, and should be made public aware. This database is managed by the National Institute of Standards and Technology (NIST), a subsidiary of the US Department of Commerce.

Previously, Bitcoin Core client developer Luke Dashjr stated that the Bitcoin Core client vulnerability exploited by the inscription has been assigned the identifier CVE-2023-50428.

On December 11th, according to The Block citing Etherscan data, Tether froze 161 Ethereum wallets yesterday, of which 150 wallets currently do not hold USDT. It is unknown whether Tether has held USDT in the past and its quantity. There are a total of 11 wallet addresses holding over 3.5 million USDTs, of which a single address holds approximately 3.4 million USDTs. ZachXBT has linked this address to the recent hacker attack that Stack has suffered.

Previously reported, Tether stated yesterday that the company has frozen personal wallets sanctioned by the Office of Foreign Assets Control (OFAC) in the United States, with the aim of “proactively preventing any potential misuse of Tether tokens and enhancing security measures.” Tether also clarified that existing wallets on the OFAC list will be frozen, and any new wallets added in the future will also be frozen.

Recently, Binance Labs released a report summarizing the “10 most noteworthy narratives.” Let’s take a look at them as investment references:

1.So far this year, the total market value of cryptocurrencies has increased by about 110%, which means capital has increased by over $870 billion. So far, the market has risen by 55% (approximately $596 billion) in the fourth quarter.

2.The supply of stablecoins is recovering, and for the first time since the first quarter of 2022, the quarterly net change in the top five stablecoin supplies has turned positive.

3.NFT trading volume broke the downward trend of 8 months, with a month on month increase of nearly 200% in November; Bitcoin is the most popular chain, with NFT transactions exceeding $375 million and even surpassing Ethereum NFTs ($348 million).

4.In November, the top 20 crypto projects saw an increase in costs, which was about 84% higher than in October and about 100% higher than in September. DeFi TVL also rose, while DeFi’s dominant position increased by 18% month on month.

5.Bitcoin Ordinals and BRC-20 have once again sparked interest in November, and the news of Bitcoin spot ETFs looks optimistic. The market is expected to obtain approval in January, and the halving of Bitcoin in April is another important milestone worth paying attention to.

6.Recently, many other chains of Layer 1 have performed better than Ethereum, with notable advancements in Solana and Toncoin.

7.SocialFi has introduced new protocols such as friend.tech, as well as updates to Farcaster, Lens, and Binance Square.

8.RWA is becoming increasingly important, currently accounting for over 49% of MakerDAO’s assets on the balance sheet; Chainlink also hopes to establish a closer connection between TradFi, RWA, and cryptocurrencies through its new CCIP solution.

9.Zero knowledge technology is taking off, and recently various ZK rollups have been released, as well as work and discussions around ZK coprocessors have increased.

10.The US interest rate is at a 22 year high, and the market expects a rate cut next year.
This weekend, the NFT blue chip project, Pudgy Penguins, suddenly started to make a move.

On December 10th, the NFT project Pudgy Penguins announced on social media that Pudgy Penguins will launch Pudgy World Alpha in Q1 2024, supported by zkSync.

Pudgy World is an interactive digital gaming venue provided for Pudgy Penguins NFT holders, toy owners, and beginners. Pudgy Penguins aims to bring users a new era of blockchain supported experiences, with the goal of attracting millions of people. Pudgy World Alpha will introduce new characters Pudgy and Peaches.

After the news was released, according to Blur market data, the floor price of the NFT project “Fat Penguin” Pudgy Penguins exceeded 12 ETH, with a floor price of 12.29 ETH and a 7-day increase of 45.27%.

APT, CYBER, APE and other tokens will receive a one-time large unlocking, with a total release value of approximately $252 million. Among them:

At 0:00 am (UTC) on December 11th, Moonbeam unlocked 12.72 million GLMRs (approximately $4.31 million), accounting for 1.6% of the circulating supply;

At 0:00 am (UTC) on December 12th, Aptos will unlock 24.84 million APTs (approximately $209 million), accounting for 8.9% of the circulating supply;

At 4:19 am (UTC) on December 15th, CyberConnect will unlock 1.26 million CYBERs (approximately $8.71 million), accounting for 8.51% of the circulating supply;

At 0:00 am (UTC) on December 16th, Flow will unlock 2.6 million FLOWs (approximately $2.18 million), accounting for 0.18% of the circulating supply;

At 0:00 am (UTC) on December 17th, ApeCoin will unlock 15.6 million APEs (approximately $28.08 million), accounting for 4.23% of the circulating supply.

Main Token Trends

BTC

Last week marked seven consecutive bullish closes since the opening. Short-term trading volume shows signs of reaching its peak, anticipating a significant retracement this week. Short-selling targets: $40,495 and $38,975. Bitcoin price holding above $37,980 is still considered a bullish signal, but crossing below warrants attention as it may indicate a shift from a bullish to a bearish trend.

ETH

Last week’s upward movement of Ethereum approached the target neckline at $2,381, reaching a high of $2,386. If a market-wide correction occurs, expect a test of support at $2,135. Holding above $1,951, even during a pullback, still indicates a bullish trend. Short-term, there may be opportunities for both short and long positions.

INJ

The daily price chart of INJ has seen a rise from the low of $1.225 to the historical resistance at $24.999. This week is expected to challenge the resistance multiple times and establish new highs with targets at $37.828, $61.084, and $97.616. These three levels are considered conditions for the establishment of a long-term bull market.

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