Recently, the volatility in the crypto market has attracted attention. After the Fed cut interest rates, market risk appetite remains cautious, and Bitcoin and Ethereum have performed weakly. However, some projects like Mantle and Solana have risen due to technological advancements. Overall funding has decreased, and investors are leaning towards infrastructure and other areas. Under the influence of macro uncertainties, the crypto market may remain volatile in the short term.

HashKey Group officially listed on the Hong Kong Stock Exchange, stock code 3887.HK, issuing 241 million shares with a net financing of HKD 1.479 billion. The company's layout includes transaction facilitation, on-chain services, and asset management, aiming to create a one-stop service covering the entire digital asset industry chain, demonstrating the market's increasing recognition of digital asset services.

The Spanish National Securities Market Commission has published implementation guidelines for the EU's Markets in Crypto-Assets Regulation (MiCA), covering investor protection and crypto platform regulation. It allows ordinary retail investors to access cryptocurrencies through open investment funds, gradually lowering market entry barriers. Meanwhile, venture capital entities are required to bear greater transparency obligations, with a transition period until 2026.

【区块律动】链上数据显示，疑似属于BitMine的钱包地址在近期有新的大额动作。12月17日，该地址从FalconX处获得了48,049枚ETH，折合美元价值约1.4058亿元。这已经不是该钱包最近一次的大额操作，频繁的批量买入背后反映出机构端对以太坊的持续需求。从交易规模来看，单笔近5万枚ETH的交易量级足以撼动市场情绪，也印证了大户在当前市场阶段的布局意图。

Exodus partners with MoonPay to launch a fully backed stablecoin, expected to go live in 2026. The goal is to simplify the user experience, making cryptocurrency payments as convenient as traditional transfers while retaining the benefits of self-custody. Leveraging MoonPay's global network, this stablecoin will support international payments and may address the shortcomings of crypto wallets in everyday applications.

【Crypto World】What has been the hot topic in the crypto circle lately? Let's take a look at some key points the community is focusing on—
Bitcoin remains popular. As a store of value, its low inflation, scalable design, and privacy features have sparked many discussions. Many still bet on its narrative as digital gold.
In the stablecoin sector, USDT remains highly active, frequently appearing in trading pairs and airdrop activities. It continues to be favored in exchange scenarios.
Solana's high-performance blockchain continues to attract attention, with high throughput and low fees being its main selling points. However, the network is also facing security challenges like DDoS attacks, which require ongoing improvements.
Aave has been in the spotlight recently. The US Securities and Exchange Commission concluded a four-year investigation with no enforcement actions, which is a positive signal for the project.
Ethereum's fundamentals are actually solid, but its price performance has been somewhat flat. The good news is that the ecosystem is pushing forward with Layer 2 scaling and DeFi deepening, with new developments in progress.

Although the SEC has halted its investigation into AAVE, signaling a positive regulatory signal, the AAVE token price still dropped over 3%, currently hovering around $185. The overall bearish market sentiment suppressed the rebound, and key support levels were broken. Future prices may fluctuate between $130 and $355.

The Marshall Islands government has launched the world's first universal basic income project, ENRA, on the Stellar blockchain, distributing cash directly to citizens using sovereign bonds USDM1 through the Lomalo wallet. This innovative model combines traditional financial systems with blockchain technology, demonstrating the efficiency and transparency of digital payments.

【BlockBeats】Castle Investment's helm Ken Griffin recently revealed a market-related detail: Trump already has a preferred candidate for Federal Reserve Chair, but is currently unwilling to make it public. This wording actually reflects a deeper concern.
Griffin has publicly expressed multiple times in 2025 that he feels uneasy about Trump's frequent public criticisms of the Federal Reserve. His core point is straightforward—if the White House excessively intervenes in the Fed's independent operations, the consequences could be severe: inflation might rebound, and interest rate policies could become chaotic. For traders focused on macro cycles, what does this mean? It indicates that the future policy uncertainty of the Federal Reserve is on the rise.
Interestingly, Griffin said he knows Trump's candidate, but this statement may itself carry a hint of "warning"—the signal he might want to convey is: please do not interfere with the independence of the central bank, as this is crucial for the economy.

The US November employment report shows the unemployment rate rising to 4.564%, reflecting a softening trend in the labor market. Although Powell stated that the Federal Reserve will remain steady, the employment data supports a rate cut decision. Market expectations for a rate cut in January have changed, but overall, it is believed that the Federal Reserve will maintain its current policy.

【Crypto World】The Sui ecosystem has recently fallen into a liquidity crisis. Weak on-chain demand combined with a cooling derivatives market is exerting continuous selling pressure on this public chain.
Numbers speak the loudest. In the past 24 hours, open interest in futures contracts has dropped nearly 10%, falling from a high to a level of $6.797 billion. The longs are hit hardest, with liquidation amounts reaching $3.14 million, while the shorts' liquidation scale is only $89,000 — this huge contrast clearly indicates the situation. The long-to-short ratio has fallen to 0.92, meaning the shorts have taken control.
The ecosystem itself is also bleeding. Total Value Locked (TVL) has decreased by 3.3%, now only $869 million. Even more heartbreaking are stablecoin assets, which have lost over 25% of their market value in just one week, reflecting a decline in users' genuine confidence in on-chain applications.
From the candlestick charts and indicators, SUI has already fallen below the key support level of $1.50.

BNB Chain announces the launch of a new stablecoin aimed at integrating liquidity across multiple application scenarios to support larger-scale application demands. This will improve the efficiency of the DeFi ecosystem, enhance liquidity, and optimize the user trading experience.

The Global Professional Fund Manager Sentiment Index hits a new high since 2021, with cash reserves falling to historic lows. 42% of managers are overweight in stocks, indicating optimism. However, excessive optimism may signal a market correction. Tech stocks decline or drag down cryptocurrencies, but Federal Reserve rate cuts could trigger a new bull market for cryptocurrencies.

【BitPush】Recently, there have been many voices expressing concerns about the Stable project, but based on actual data, the fully diluted valuation (FDV) level at the time of launch was roughly in the same order of magnitude as Blast, which is worth noting.
Compared to other projects, Stable's participation method is particularly straightforward—no need to spend months tinkering with various applications, nor to hand over a large amount of ETH to the project team to participate in complex mechanisms. As long as you participate, you can earn approximately 25% annualized yield (APY), which is not low.
From a logical perspective, this design is more like returning to a yield-centric simple model, rather than a complex architecture that heavily relies on ecosystem narratives and requires long-term user engagement. For users mainly seeking stable returns and not wanting to deeply involve themselves in ecosystem operations, both entry and understanding costs are much lower. Of course, this

The actual U.S. unemployment rate in November was 4.6%, higher than the expected 4.4%, indicating a weakening labor market, which may boost expectations of the Federal Reserve cutting interest rates and benefit risk assets. This macroeconomic data could influence the cryptocurrency market and asset allocation strategies, so attention should be paid to the Federal Reserve's response measures.