Crypto Morning News: Bitget announces merger of BWB to be replaced with BGB; Vitalik adopts viral hippo Moo Deng
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Crypto Morning News: Bitget announces merger of BWB to be replaced with BGB; Vitalik adopts viral hippo Moo Deng
Pantera Capital CEO predicts Bitcoin will reach the peak of its bull cycle in August 2025.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
1.69 Trillion BONK Tokens Burned, Worth Over $50 Million
According to SolanaFloor monitoring, Solana-based meme coin BONK has burned 1.69 trillion tokens (worth approximately $52.28 million) from its total supply following approval of the proposal by Bonk DAO.
Binance Alpha Adds EVAN, BITCOIN, VISTA, AVAAI, and AITECH
Binance Alpha has added five new projects: EVAN, BITCOIN, VISTA, AVAAI, and AITECH. So far, the number of projects on Binance Alpha has reached 43.
Vitalik Donates 10 Million Thai Baht to Support Adoption of Internet-Famous Hippo Moo Deng at Khao Kheow Zoo in Thailand
Vitalik Buterin donated 10 million Thai baht (approximately $292,200 USD) through the wildlife sponsorship program at Khao Kheow Open Zoo in Thailand to support the baby hippo Moo Deng and her family. The donation will be made in two installments—the first completed on December 26, 2024, and the second scheduled within one year with timing announced later.
Vitalik expressed his commitment to animal welfare and educational initiatives, looking forward to collaborating with the zoo community to advance development and improvement plans. This donation will fund a dedicated exhibit for Moo Deng and highlights the success of Ethereum community events in Thailand, particularly Devcon SEA held in Bangkok. He hopes this gesture strengthens friendship with Thailand and contributes positively to the local community.
Pantera Capital CEO Predicts Bitcoin Bull Market Peak in August 2025
Dan Morehead, CEO of Pantera Capital, predicted on the Bankless podcast that Bitcoin will reach the peak of its next bull cycle in August 2025, targeting a price of $117,000. Morehead noted that Bitcoin’s price movements have consistently followed the four-year halving cycle, with effects typically starting to manifest around 400 days before the event and peaking about 480 days afterward. He stated that market conditions in 2025 will be highly favorable—not only due to the halving effect but also supported by political and macroeconomic factors.
Bitget Announces Merger of BWB into BGB and Delisting of All BWB-Related Token Services
Bitget announced it will support the merger and token swap of Bitget Wallet Token (BWB) into Bitget Token (BGB) on December 27, 2024, at 16:00 (UTC+8), along with delisting the BWB/USDT spot trading pair and related services. The exchange rate will be calculated based on the 7-day average closing prices from December 19 to 25, 2024—BWB averaged $0.3934 USDT and BGB averaged $4.5940 USDT, resulting in a conversion ratio of 1 BWB = 0.08563 BGB. After the swap, BWB tokens in user accounts will be reclaimed and destroyed, while BGB tokens will be airdropped proportionally. No additional BGB tokens will be issued, so the total supply remains unchanged.
Eliza to Release New Tokenomics Proposal Around January 1
A member of the Eliza team revealed during a community call that two major announcements are planned. First, the project will officially release a full list of partners to enhance transparency and help the community better understand each collaboration and its scope.
Second, regarding tokenomics, the team plans to unveil a new tokenomics proposal around January 1. Designed by professionals from multiple teams, the proposal will include mechanisms such as LP pairing and DeFi functionality integration. Additionally, the team disclosed they have acquired a Launchpad company, which will be used for official project launches going forward.
p>Siqi Chen Sells Donated Mira Coin to Support Ccancer Lab, Triggering Sharp Drop in Mira PriceAccording to The Block, Siqi Chen, CEO and CFO of startup fintech platform Runway, posted yesterday urging donations to support Ccancer Lab at the University of Colorado—the only institution in North America researching pediatric craniopharyngioma, a condition affecting his young daughter Mira. Thanks to promotion by prominent X users including X CEO Linda Yaccarino, the GoFundMe campaign initiated by Siqi Chen had raised over $230,000 at the time of writing.
In an unexpected turn, a user on Pump.Fun created a meme coin named Mira, which briefly reached a market cap of $80 million. Fortunately, X user Waddles quickly purchased and gifted 50% of the supply to Siqi Chen shortly after launch, instantly giving him holdings worth millions of dollars. However, when Siqi Chen announced he would gradually sell these Mira tokens and donate all proceeds to the lab, the coin’s value began to fall. On X, he shared his selling plan: “Starting around 3 AM UTC on December 27, I will sell $1,000 worth of Mira every 10 minutes, continuously. If there are changes, I’ll give 24 hours’ notice.”
He acknowledged some traders might profit without intending to donate, but overall believes the incident has had a positive impact. He added: “Our original goal was $200,000, but we’ll now raise at least $1 million for rare disease research. This is undeniably a win for the world.” At the time of writing, Mira’s market cap had dropped to around $19 million. Meanwhile, another meme coin named “kitkat,” inspired by Mira’s dog, briefly reached a market cap of $3 million before falling to about $150,000. Siqi Chen stated: “Every single cent we receive from kitkat/meme coins—including LP fees—after taxes will go directly toward rare disease research.”
Base Maintains Strong Transaction Volume in Q4, Processing Over 8 Million Transactions Daily
According to The Block, Base maintained strong transaction volume throughout Q4, processing over 8 million transactions per day. Since March, the network has seen steady growth, increasing daily transactions from around 500,000 to over 7.5 million by December. In addition, Base’s TVL has grown to over $3.5 billion.
Solana Staking Protocol Jito Earns Over $100 Million in Tips for Two Consecutive Months
According to a report by crypto research firm Kairos Research on December 26, Solana staking pool Jito earned over $100 million monthly in priority fees and tips during both November and December.
Kairos noted that in 2024, Jito validators increased their average monthly tip income by 32%. Monthly revenue peaked in November at approximately $210 million.
Jito’s growing tip income reflects rising popularity of the Solana network. It also indicates increasing returns for validators who prioritize certain transactions—a practice known as maximum extractable value (MEV).
As of December 26, according to Jito Labs, the developer behind Jito, more than 93% of Solana validators use Jito’s software to maximize revenue from block building.
Market Data
Suggested Reading
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Pantera Capital bought Bitcoin at $65 in 2013, achieving fund returns exceeding 100x since then. Dan Morehead, founder of Pantera Capital, shares insights on identifying assets with asymmetric return potential and offers deep reflections on the future of the cryptocurrency market. He discusses Bitcoin’s “escape velocity,” institutional adoption of crypto, the impact of political factors, and the four-year market cycle.
Recapping 69 Absurd Moments in Crypto in 2024
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AI Agents Reshaping Web3: REVOX Empowers Intelligent Upgrade of BNB Ecosystem
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The TradFi (3,3) Model: Bitcoin’s Integration Into Traditional Finance Is a Battle of Value
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