Crypto Morning News: Tight funds expected during Christmas holiday, Pump.fun co-founder denies Christmas airdrop rumors
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Crypto Morning News: Tight funds expected during Christmas holiday, Pump.fun co-founder denies Christmas airdrop rumors
Wednesday this week is Christmas, and major exchanges in Europe and the US are closed. Crypto funds typically see outflows during this week.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Pump.fun co-founder alon denies Christmas airdrop rumors
In response to community speculation about a potential Christmas airdrop by Pump.fun, co-founder alon clearly responded with "False," confirming the rumor as untrue.
Privacy computing network Nillion announces mainnet launch in February 2025
Privacy computing network Nillion announced on X (formerly Twitter) that its mainnet will launch in February 2025. Previous reports indicated that Nillion raised $25 million in funding led by Hack VC.
Barclays: Fed expected to pause rate cuts after June 2025 until mid-2026
Barclays stated that one of the factors likely keeping U.S. interest rates higher for longer is related to inflation policy. During the December meeting, several FOMC participants clearly began incorporating expectations around tariffs into their inflation forecasts. Even among those who did not adjust official projections, many now believe that inflation risks are skewed to the upside. Although Powell did not explicitly clarify how much the Fed factors in tariff-driven price increases, we believe it will be challenging for the Fed to continue cutting rates if tariffs lead to heightened inflation pressures in the second half of 2025—especially given the recent trend of rising inflation. We expect the Fed to pause rate cuts after June 2025 and resume them around mid-2026 once tariff-related inflationary pressures subside. In our base case, we forecast two 25-basis-point cuts in 2026, resulting in a terminal rate of 3.25–3.50%.
Greeks.live: Tight liquidity expected during Christmas holidays, risk-off sentiment strong in crypto markets
Adam, macro analyst at Greeks.live, posted on X stating that Wednesday marks Christmas Day, with major exchanges in Europe and the U.S. closed for the holiday. Crypto capital typically flows out during this week. Currently, ETFs are the primary external source of funds for the crypto market, so outflows exert greater pressure than in previous years, leading to a pronounced risk-averse sentiment. Regarding market outlook, this bull cycle has yet to experience a significant correction. With tight liquidity over the holiday period, a deleveraging move before Trump takes office cannot be ruled out, further amplifying market caution. On the crypto derivatives front, nearly $12 billion in options are expiring this week—over 40% of current open interest. Large holders and market makers are actively rebalancing positions. Traders monitoring the order book closely may occasionally find good arbitrage opportunities. Market volatility is expected to remain low this week, as most positioning focuses on anticipated price action around late January when Trump assumes office. This remains a favorable window to buy options.
Tether CEO: Company’s 2024 net profit expected to exceed $10 billion
Tether CEO Paolo Ardoino said in a Bloomberg interview that the company’s net profit in 2024 is expected to surpass $10 billion. Data shows USDT’s market cap grew by nearly $50 billion this year and has now exceeded $140 billion. Tether’s primary revenue comes from investing its stablecoin reserves in securities such as U.S. Treasuries and gold. Ardoino revealed that more than half of the company’s net profits this year have already been reinvested, including a $775 million investment in Rumble.
Wormhole DAO to launch in Q1 2025
Cross-chain protocol Wormhole announced that Wormhole DAO will go live in the first quarter of 2025. To participate in the first governance vote, W token holders must engage in governance staking. The Wormhole Staking Rewards Program (SRP) is ongoing across all chains (EVM + Solana), with at least 50 million W tokens allocated to the initial reward pool. Previously, Wormhole launched its W token staking program with a minimum reward distribution of 50 million tokens.
Data: MRS, ADA, ENA and other tokens face large unlocks this week, with MRS unlock valued at ~$34.7M
According to Token Unlocks data, several tokens including MRS, ADA, and ENA will undergo significant unlocks this week:
Metars Genesis (MRS): Approximately 10 million tokens will unlock at 08:00 AM Beijing time on December 23, representing 11.87% of current circulating supply, valued at approximately $34.7 million;
Cardano (ADA): Around 18.53 million tokens will unlock at 08:00 AM Beijing time on December 26, representing 0.05% of current circulating supply, valued at approximately $16.6 million;
Ethena (ENA): About 12.86 million tokens will unlock at 03:00 PM Beijing time on December 25, representing 0.44% of current circulating supply, valued at approximately $13.5 million;
Murasaki (MURA): Roughly 20 million tokens will unlock at 08:00 AM Beijing time on December 23, representing 34.84% of current circulating supply, valued at approximately $12.2 million;
Eigenlayer (EIGEN): Approximately 1.29 million tokens will unlock at 03:00 AM Beijing time on December 25, representing 0.61% of current circulating supply, valued at around $4.9 million;
MMX (MMX): Around 1.67 million tokens will unlock at 08:00 AM Beijing time on December 24, representing 1.11% of current circulating supply, valued at approximately $1.8 million;
Venom (VENOM): About 33.76 million tokens will unlock at 08:00 AM Beijing time on December 25, representing 1.77% of current circulating supply, valued at around $2 million;
Uniswap L2 network Unichain mainnet to launch early next year
Uniswap’s Layer 2 network Unichain has released its mainnet development roadmap, announcing an official mainnet launch early next year. Since the Unichain Sepolia testnet went live in October, the network has processed 50 million test transactions and deployed over 4 million test contracts. The Sepolia testnet is now public, and infrastructure providers are actively testing for mainnet readiness. After launch, Unichain will continue enhancing decentralization and performance through new features. These features will first debut on an experimental testnet for stability and performance testing, then move to Sepolia for broader validation before mainnet deployment. The first feature on the public experimental testnet will be Flashblocks, reducing effective block times to 250 milliseconds and enabling near-instant transaction finality. The Unichain validator network will also launch on the experimental testnet, inviting community members to run test validator nodes.
CZ: Unsure how report calculated UAE holding $40B worth of Bitcoin, figure higher than expected
Binance co-founder CZ previously shared on X a media report claiming the UAE holds $40 billion worth of Bitcoin. Following community质疑 questioning the credibility of the article—some suggesting it appeared AI-generated—CZ responded: “I also wonder how they arrived at that exact number. Data collection on this scale is difficult. It’s higher than I would have guessed, but then again, there are many wealthy individuals there.”
Analyst: No need to fear bull market ending, crypto still has strong momentum
New Zealand-based crypto analyst Lark Davis tweeted: “If you’re worried the bull market is ending, consider this: In December 2020, BTC dropped 12% after surging 77% between October and November. Then, within the following 23 days, it rose from $17,000 to $41,000—an increase of 136%. Something similar is happening now. Bitcoin has pulled back 13% after strong gains in Q4. That doesn’t mean we’ve hit the bottom—it could retrace another 10–15%. But there’s still plenty of momentum in Bitcoin and the broader crypto market.”
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