Crypto Morning News: Russia is using Bitcoin in foreign trade, Berachain collaborates with multiple projects to host staking event
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Crypto Morning News: Russia is using Bitcoin in foreign trade, Berachain collaborates with multiple projects to host staking event
Multiple cryptocurrency trading firms have reported a sharp increase in crypto OTC trading volume over recent months.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Co-founder of DWF Labs: AI, DeSci, quantum resistance, meme coins and more will be key narratives in 2025
Andrei Grachev, co-founder of DWF Labs, shared his views on industry trends for 2025 via a post on X. Andrei believes that asset issuance models featuring "ICO-style, no vesting period, no lock-up terms, fully unlocked at TGE" will become increasingly popular.
He noted that large-scale funding rounds will emerge, with all transactions taking place on-chain, and some major institutions may be positioning themselves behind the scenes before going public later.
Andrei also emphasized that the key narratives in 2025 will revolve around AI, AI agents, decentralized science (DeSci), quantum-resistant technologies, yield-generating assets, and meme tokens.
Viewpoint: ETH is turning $3,500 from a resistance level into support; if successful, upward momentum could follow
Crypto analyst Satoshi Flipper posted on X stating that once Ethereum’s price flips the psychological $3,500 level from resistance to support, it may gain further upward momentum.
He pointed out that ETH is currently attempting to turn the $3,500 level into support. As expected, breaking through this psychological threshold attracts greater attention from retail investors. However, failure to break above this level could dampen investor sentiment.
Berachain partners with Stakestone, Lombard, and Concrete for a staking campaign
During Beramas, Berachain has partnered with Stakestone, Lombard, and Concrete to launch a staking event. Users can stake related tokens via designated pools on Stakestone and Lombard, deposit them into the Berachain Vault, and receive future rewards or points from both platforms and Berachain.
South Korea's crypto investor base surpasses 15 million for the first time; crypto exchange trading volume in November nearly matches stock market
According to Yonhap News Agency, data released by the Bank of Korea and presented to South Korea’s National Assembly Finance Committee shows that as of the end of November 2024, the number of cryptocurrency investors in South Korea surpassed 15 million for the first time, reaching 15.59 million—a rise of 610,000 from October. The total market value of holdings reached 102.6 trillion KRW (approximately $79 billion), with an average holding of about 6.58 million KRW (around $5,070) per person.
Data indicates that the five major South Korean cryptocurrency exchanges (Upbit, Bithumb, Coinone, Korbit, Gopax) recorded an average daily trading volume of 14.9 trillion KRW (~$11.5 billion) in November—nearly equivalent to the combined average daily trading volume of South Korea’s KOSPI and KOSDAQ stock markets (16.9 trillion KRW). Market analysts suggest that Trump’s pro-crypto statements have boosted investor enthusiasm in South Korea.
Pump Science: Tokenomics design completed; BIO airdrop planned
Pump Science announced on X that its tokenomics design has been finalized and a BIO airdrop is planned. Regarding tokenomics: 5% of the future token supply will be allocated to holders of previous tokens (at migration), meaning those who currently hold more PS tokens (RIF, URO) will receive new tokens accordingly. This mechanism will continue indefinitely with any new issuance. Regarding the BIO airdrop, BIO Protocol will distribute BIO tokens to holders of URO and RIF, pending governance approval to connect BIO to Solana, with additional airdrops under consideration.
Multiple crypto trading firms report sharp growth in crypto OTC volumes over recent months
Several crypto trading companies recently reported a surge in over-the-counter (OTC) trading volumes over the past few months, with election outcomes serving as a significant catalyst. Tim Ogilvie, head of institutional business at Kraken, said: “OTC trading is currently exceptionally active, with volumes spiking alongside rising prices.” He revealed that Kraken’s OTC volume has grown 220% year-on-year, with other trading firms reporting similar increases.
Wintermute OTC trader Jake Ostrovskis noted that the market was relatively quiet mid-year but became more active as the election approached, with participants actively preparing for potential outcomes. He added that Wintermute had been in talks with certain clients for years, and the election results served as the trigger for initiating trades. Similarly, GSR trader Embert Lin stated that the firm’s trading volume has significantly increased since the election. With rising prices of Bitcoin, Ethereum, and altcoins, projects and investors are more actively managing capital and risk at these levels while also seeking new opportunities beyond BTC and ETH.
A trader from an OTC firm privately disclosed that recent trading volumes have easily reached the peak levels seen during the 2021 crypto market boom. Additionally, Brett Reeves, head of Go Network at crypto custodian BitGo, pointed out that election results were the main driver behind the recent surge in trading activity, with two-thirds of the transaction volume occurring within three months after the election results were announced.
Russian Finance Minister: Russia is using Bitcoin in foreign trade
Russian Finance Minister Anton Siluanov stated today that Russian companies have begun using Bitcoin and other digital currencies for international payments. This year, Russia allowed the use of cryptocurrencies in foreign trade and introduced measures to legalize cryptocurrency mining.
Floki ETP may launch on Swiss Exchange in Q1 next year; DAO community proposes liquidity provision
Floki plans to launch an exchange-traded product (ETP) based on the FLOKI token on the Swiss Stock Exchange (SIX) in the first quarter of 2025. The development team has proposed allocating part of the treasury funds (worth $2.8 million) to provide initial liquidity for the ETP. Voting ends on December 27 at 19:00 Beijing time. If approved, FLOKI will become the second meme coin, after Dogecoin (DOGE), to launch an institutional-grade product in Europe.
Monthly trading volumes for BTC and SOL hit record highs in November, while ETH volume remains ~50% below 2021 peak
Data from Token Terminal shows that monthly trading volumes for BTC and SOL have reached all-time highs, whereas ETH’s volume remains approximately 50% below its 2021 peak. In November 2024, the trading volumes for BTC, ETH, and SOL were $2.2 trillion, $1.1 trillion, and $243 billion respectively.
Market Data
Suggested Reading
Letter to Myself in 2024: 15 Insights from a Trader on Mindset Management and Opportunity Capture
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This article introduces several notable AI-based crypto projects including $AGENCY, $TRISIG, $KWANT, and $COOKIE. These projects leverage AI technology to offer investors decision-support tools such as token analysis, technical analysis, and sentiment indicators. The article analyzes their features and development trends, suggesting that research-oriented AI agents are emerging as a new hotspot in the crypto market.
This article summarizes forecasts from major crypto institutions for the 2025 crypto market, including predictions of Bitcoin surpassing $200,000, broader mainstream adoption of crypto assets, and more crypto unicorn companies listing on U.S. stock exchanges. It highlights that 2025 will be a pivotal year driven primarily by inflows into Bitcoin ETFs, traditional financial institutions opening up to crypto allocations, and advancements in AI applications.
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Overview of the 2024 Memecoin Super Cycle
This article explores the development, market performance, and future outlook of the 2024 memecoin super cycle. Memecoins were exceptionally active this cycle, acting as indicators of on-chain liquidity, early signals for new narratives, and barometers of market sentiment. The article analyzes innovations in issuance mechanisms, improvements in market-making models, enhanced user experience, characteristics of various memecoin types, and representative projects. It also discusses how memecoins are gradually gaining recognition and adoption in mainstream markets.
Interview with Virtuals Co-Founder: Pathways to Wealth in the Era of AI Agents
This article features an in-depth conversation about the future of AI, cryptocurrency, and human interaction. It explores the potential and applications of AI agents in the crypto space—including tokenization, borderless payments, and addressing loneliness—and proposes the concept of building a "virtual nation" centered around AI agents. It also examines areas where AI agents may surpass humans and how balance can be achieved in human-AI collaboration.
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