Fed official Hamak stated that after experiencing three rate cuts, there is currently no intention to adjust the Intrerest Rate, as inflation concerns outweigh risks in the employment market. She expects the rate to remain at its current level until spring, reflecting the Fed's dilemma between inflation and employment recovery. This creates short-term pressure on the crypto market and risk assets.

The NIGHT Token made a spectacular debut on December 8, with a 24-hour volume of $4 billion, surpassing many established coins. The project party responded positively to the launch, and the Midnight network will implement a phased unlocking mechanism over 450 days. It is expected that by 2026, privacy smart contracts will be launched, promoting the development of the Decentralized Finance sector. Future outcomes depend on technological implementation.

In 2025, Brazil's Crypto Assets market significantly heats up, with a year-on-year volume rise of 43%. The average investment amount per user exceeds 1000 dollars, and investors begin to diversify their layout to spread risk. The volume of stablecoin transactions has tripled compared to last year, indicating the market's gradual maturation and the importance of Risk Management.

Latest data shows that margin debt in the United States surged by $30 billion in November, reaching a total of $1.21 trillion, marking a continuous rise for 7 months with an increase of 43%. This high leverage operation has caused the proportion of margin debt to the M2 money supply to jump to 5.5%, exceeding the levels during the internet bubble in 2000, significantly increasing the risk.

[Block Rhythm] Recently, ACT's performance has indeed been eye-catching. On December 21st, during this wave of market activity, it surged to 0.04 USD in just one day, with a rise of 36.2%, and its market capitalization also reached a scale of 37 million USD. Many people are naturally envious of such a rise, but you need to understand the intricacies involved.
Meme coins, to put it bluntly, mostly have no real utility, and their price fluctuations are like riding a roller coaster. One second it’s heaven, and the next second it can drop unexpectedly. So if you want to participate in trading these types of coins, you must consider your risk tolerance and not bet the farm. Market opportunities are always there, but you need to protect your principal.

Recently, the sentiment in the crypto market has warmed up, with the Fear and Greed Index rising to 21, an increase of 4 points compared to yesterday. Although it is still at a low level, rebound signals are emerging, which may influence subsequent trading behavior and capital flow, worth following.

Dragonfly Capital has recently made a large purchase of MNT on a certain exchange, accumulating a total of 6 million coins, with a total value of nearly 7 million USD. At the same time, they also hold over 9 million MNT, demonstrating strong confidence in the project. This action indicates an optimistic assessment of the mid-term trend of MNT by institutions.

[Coin World] There is an interesting on-chain trend worth following recently — a large investor holding ETHFI transferred 900,000 ETHFI to the exchange in the past 3 hours, equivalent to about $738,000. What is even more intriguing is that since this investor first obtained ETHFI unlock rewards, they have cumulatively deposited 31,280,000 ETHFI into the exchange, worth about $36.58 million.
Such large and sustained inflows usually indicate that holders may be gradually cashing out profits or adjusting their positions. Considering ETHFI as a popular project in the Ethereum ecosystem, such capital movements often put pressure on short-term market sentiment. For traders tracking whale movements, these types of data changes are often early warning signals of price fluctuations.

Recently, a whale withdrew over $250 million worth of PENGU from an exchange, indicating continued optimism for the asset. This whale currently holds approximately 273 million PENGU and 405.84 TRUMP, showing an increasing position in PENGU and reflecting market participants' confidence. Monitoring whale movements can help understand market liquidity.

【ChainNews】The US Congress has made new progress on cryptocurrency taxation. Representatives Max Miller (Republican from Ohio) and Steven Horsford (Democrat from Nevada) are jointly drafting the "Digital Asset PARITY Act," which is a compromise between current IRS tax guidance and industry calls.
What are the highlights of this draft? First, stablecoin transactions under $200 will be exempt from capital gains tax. For users engaging in frequent small transactions, this can significantly reduce compliance costs. Second, staking and mining rewards can opt for a five-year tax deferral—that is, the staking rewards or mining income you receive now do not need to be included as taxable income at the current market price immediately, but can be deferred for five years. How is it calculated after five years? It will be taxed as ordinary income based on fair market value.
The bill also involves

Hyperliquid's on-chain trading protocol HIP-3 has recently performed remarkably, with trading volume doubling within three weeks to surpass $10 billion. The protocol supports 24-hour trading of real-world assets through perpetual contracts, meeting market demands for liquidity and flexibility, demonstrating the strong potential of the on-chain contract market.

A Web3 project raised over $1.6 million during the pre-sale phase, selling 26 million tokens, and has now launched community activities to reward users. The project has launched a self-custody wallet and plans to introduce a DEX and a crypto card. Through product development and community incentives, it aims to expand its influence, following a development path consistent with standard Web3 project models.

The Shiba Inu community has demonstrated strong cohesion, becoming a stabilizing force amid market fluctuations. As the SHI stablecoin and ETF topics advance, the project is actively building financial infrastructure to change the market's pricing logic.

【Crypto World】Interesting things are happening. On-chain tracking revealed that two related addresses coordinated their actions within 1 hour, spending a total of $16.95 million to buy 5,678 ETH, with an average cost of $2,985.7. This is a significant move, and the institutions or large holders behind it seem to have strong confidence in Ethereum.
Looking into the history of this entity, the most recent activity was from December 3 to December 12, during which they invested $14.97 million and ultimately made a profit of $137,000. Although the return isn't particularly high, being able to consistently profit within market swings indicates a good grasp of market timing. This time they jumped in again, reflecting a somewhat optimistic attitude from institutions regarding short-term market trends.

【Chain Wen】The Bank of Japan has taken action again. On December 19, it raised interest rates by 25 basis points, pushing the policy rate to 0.75%. Although this rate hike is not large, the chain reaction behind it is the real focus.
First, look at yen carry trades. By the end of 2024, there are still about 9 trillion USD of low-interest yen positions in the global financial markets, a result of years of carry trade accumulation. As the interest rate differential between Japan and the US gradually narrows, this massive liquidity source is slowly drying up. When these positions are forced to be closed, the liquidity of global assets will face long-term suppression—this is a test for risk assets and emerging markets.
Then there are hidden dangers in Japanese bonds. The Japanese government recently approved an additional fiscal budget equivalent to 2.8% of nominal GDP, and also plans to raise defense spending to 3% of GDP, along with a permanent exemption from consumption tax. While this combination is politically attractive, from a market perspective, it is adding fuel to the fire. Japan's debt has already been so

Bitcoin has recently fluctuated close to $86,000, and investor sentiment is tense as they seek risk hedging assets. Some are paying attention to a multi-chain payment application project, which has raised over $2.6 million, and the token price has experienced an increase. Investors are re-evaluating asset allocation and need to determine their investment direction based on their individual risk tolerance.

【区块律动】12月20日的市场情绪数据出来了——恐慌与贪婪指数刚到20，比昨天的16稍有回升，但整体市场还是处在「极度恐慌」的氛围里。
这个指数怎么来的呢？其实是综合了多个维度：波动性占比最大（25%），加上市场交易量（25%），然后是社交媒体的热度（15%），市场调查问卷（15%），比特币占据整个市场的比例（10%），再加上谷歌热词搜索数据（10%）。这些数据糅合在一起，就勾勒出了当前市场的真实心态。
从指数来看，投资者的情绪还是挺谨慎的，市场参与度和热度都没有明显起色。

In November, the US inflation rate was lower than expected, and the unemployment rate unexpectedly rose, raising questions about the data's credibility. Analysts believe that despite limited data, the upside potential for inflation is limited, and the slight increase in unemployment may lead to underestimated expectations of rate cuts. Investors should pay attention to the impact on risk assets.

The founder of the on-chain analysis platform commented on a long-term bullish analyst, pointing out that their viewpoint proportions are extreme and that the degree of change reflects the characteristics of sell-side research. Analysts find it difficult to maintain optimism over the long term but must occasionally acknowledge risks to maintain a professional image, which is a common practice among Wall Street analysts.