KEYTAKEAWAYS
- Bitcoin shows strengthening market position with sharp decreases in exchange inflows and miner outflows since November, indicating reduced selling pressure.
- Stablecoin market reaches historic $206B total value, with USDT dominating at 66.5% market share amid rising USD0 prominence.
- Solana's market value surges to $105.54B, climbing to 181st in global asset rankings, while FTX's previous SUI sale gains attention.
CONTENT
Welcome to the CoinRank Crypto Digest. In the new year, CoinRank will continue to provide daily important crypto news in this column series, allowing readers to quickly obtain the latest crucial updates from the cryptocurrency market.
MORNING NEWS
1. Musk announced that he would change the X algorithm to maximize the time users spend using it without regrets, which was widely opposed
Elon Musk has announced an upcoming change to the X algorithm that will prioritize content deemed informative or educational, a move that has been widely opposed. Musk said the planned changes were in response to too much negativity on X. Our goal is to maximize the amount of time users dont regret using the app, he wrote in a January 3 social media post. Too much negativity being pushed technically increases user time, but it doesnt increase the amount of time users dont regret using the app. In response, users on X described the algorithm change as a form of censorship and questioned Musk over who has the power to decide what negative content is on the platform.
2. Analysis: BTC exchange inflows and miner outflows have fallen sharply since November 2024, indicating a reduction in selling pressure
Since November 2024, Bitcoin exchange inflows (the total amount of BTC transferred to exchanges) and miner outflows (the amount of BTC sent to exchanges by miners) have fallen sharply, indicating reduced selling pressure. According to CryptoQuant, BTC exchange inflows in November 2024 peaked at 98,748 BTC on November 25, following about two months of high exchange inflow activity. In December 2024, BTC exchange inflows declined, but remained substantial, with the total number of Bitcoins sent to exchanges ranging from 11,000 to 79,000 per day. The decline in exchange inflows was accompanied by a decline in miner outflows, indicating reduced selling pressure from Bitcoin miners, who often sell BTC holdings to cover operating expenses. Miner outflows have been declining since miners took profits during Bitcoins historic price rally after Trumps election last November. Data from CryptoQuant shows that outflows peaked on November 11, when miners sent 25,367 BTC to exchanges, when the price of Bitcoin reached about $88,000. On January 1, 2025, miners sent 5,489 BTC to exchanges, 5,748 BTC on January 2, and 2,133 BTC on January 3.
3. SUI briefly broke through 5.3 USDT, setting a new historical high
OKX market data shows that SUI briefly broke through 5.3 USDT, setting a new historical high. It is currently at 5.26 USDT, with a 24-hour increase of 18.34%.
4. Solv Protocols official X account was stolen and posted suspicious information. Please beware of the risks
According to SlowMist Cosine monitoring, Solv Protocols official X account was stolen and posted suspicious information. Please stay vigilant and beware of risks.
5. Jupiter launches the Goodcats program to reward those who promote ecosystem growth
Jupiter officially announced on the X platform that it will soon launch the Goodcats program to reward contributions to the growth of the Jupiter ecosystem on platforms such as the X platform and Discord. Users can submit corresponding applications. The submission rules include: -Only include links to your own contributions; -Must be within the eligible date range of November 3, 2023 to November 2, 2024; -Do not submit multiple profiles multiple times. The official expects to receive tens of thousands of applications. In order to facilitate the smooth selection process, users are urged to submit accurately.
NOON NEWS
1. The total market value of stablecoins has risen above $206 billion, setting a new record high
DefiLlama data shows that the total market value of stablecoins has rebounded above US$206 billion, setting a new historical high; it is currently US$206.827 billion, an increase of 0.87% in the past week, and USDTs market share is 66.5%.
2. Global on-chain RWA assets officially exceeded US$15 billion, with a 30-day increase of 11.97%
According to data from the RWA monitoring platform RWA.xyz, as of January 5, 2025, the global on-chain RWA assets exceeded US$15 billion, reaching US$15.31 billion, with a 30-day increase of 11.97%; the number of asset holders exceeded 80,000, reaching 81,495, with a 30-day increase of 2.6%; the total number of asset issuers increased to 119; the value of stablecoin assets was US$203.66 billion, with a 30-day increase of 4.21%, and the number of stablecoin holders reached 141 million. In addition, the scale of U.S. Treasury tokenized assets exceeded US$4 billion, reaching US$4.09 billion, with a 7-day increase of 0.27%; the number of holders fell to 12,205, with a 7-day decrease of 2.32%.
3. Aave proposes to hardcode Ethenas USDe price to anchor USDT, sparking community doubts
Aave community faces controversy over new proposal to hard-code USDe price to USDT, aiming to protect $300M+ in loans from potential liquidation risks. The ARFC proposal, jointly submitted by Chaos Labs and LlamaRisk on January 3, seeks to shield Aave users from secondary market volatility.
4. Usual stablecoin USD0 surpasses FDUSD in market value, becoming the top five stablecoins
DefiLlama data shows that the market value of USD0, a stablecoin product backed by real-world assets launched by stablecoin developer Usual, has reached US$1.813 billion, surpassing the market value of FDUSD (US$1.71 billion), ranking fifth among stablecoins; it has increased by 237% in the past month.
5. Solanas market value surpasses Recruit and Starbucks, rising to 181st in global asset market value ranking
According to Infinite Market Cap data, Solana (SOL) market value rose to $105.54 billion, up 12.53% in 7 days. Solanas current market value surpassed Recruit and Starbucks, ranking 181st in global asset market value.
EVENING NEWS
1. Global funding for generative AI projects will reach $56 billion in 2024
According to data compiled for TechCrunch by financial tracker PitchBook, in 2024, generative AI companies worldwide raised $56 billion from VCs across 885 deals. This is a 192% increase from 2023, when investors poured $29.1 billion into generative AI startups across 691 deals.
2. FTX sold 890 million SUI and equity to Mysten Labs for $96 million in March last year, now worth $4.6 billion
FTX creditor Sunil wrote on X: SUI has reached $5.2 with a market value of $16 billion. FTX sold 890 million SUI (warrants) + equity to Mysten Labs for $96 million in March 2023. These tokens are now worth about $4.6 billion.
3. A California company with a $300 million asset management scale purchased Bitwise Bitcoin ETF shares
Matt Hougan, Chief Investment Officer of Bitwise, said in a post on X: A California wealth management company with a $300 million asset management scale recently sent an email saying that it has invested in Bitcoin for 63 clients through our ETF. This makes me very happy. Wealth management companies will help millions of investors participate in opportunities in this field. I am honored to support them.
4. changeswap.io destroys 200 billion SG tokens worth $7.5 million
According to official news, changeswap.io has destroyed 200 billion SG, worth about $7.5 million. It is reported that changeswap.io is the launch platform of BNB Chain. The new version of the change launch platform and the change multi-functional exchange will be launched soon. SG has been designated as the platform currency of the change exchange. Officials said that the Squid Game Web3 challenge will be launched soon, and 21 BTC will be given as the ultimate reward.
5. Global funding for generative AI projects will reach $56 billion in 2024
According to data compiled for TechCrunch by financial tracker PitchBook, in 2024, generative AI companies worldwide raised $56 billion from VCs across 885 deals. This is a 192% increase from 2023, when investors poured $29.1 billion into generative AI startups across 691 deals.
