Crypto Market Weekly Roundup (12.09-12.15): The market pulled back briefly, and the inscriptions bloomed

A. Market View

I. Macro liquidity

Monetary liquidity improves. The Fed sent a dovish signal, as the market expected for three consecutive meetings without raising interest rates. The dot plot shows at least three rate cuts next year, or about 75 basis points. U.S. Treasury yields plunged to a new half-year low, gold soared, and U.S. stocks hit a two-year high. The crypto market followed U.S. stocks, rebounding slightly after a pullback.

Second, the whole market

Top 100 gainers by market capitalization:

This week BTC the shock pullback, and the capital sector rotated. The hot spots in the market revolve around the BTC ecosystem, the Solana ecosystem, the Cosmos ecosystem, and games. The wealth-creating effect of BTC inscription is similar to the defi summer of the last bull market.

1. SATS: It is the BRC20 inscription, the platform currency of the wallet Unisat, and it may adopt an economic model similar to Blast in the future. Recently, it was launched on the BN exchange, which once again activated the inscription craze.

2. MOBILE: It is a Depin project of the Solana ecosystem, a sub-coin made by Helium, and its main business is a decentralized phone card business. The market maker behind it is Multicoin Capital, which has risen 10 times this month.

3. INJ: It is a defi public chain of Cosmos ecology, and the price of the currency has risen to a new high since the last round of bull market, and the market maker behind it is Jump.

Third, the BTC market

1. On-chain data

BTC’s market performance is also strikingly similar to that of the 13-17 and 17-21 years. The current market price is significantly higher than the real market average price of $31,000, and most BTC holders are already profitable.

Stablecoin market cap is flat. This week’s market pullback, to some extent, affected the sentiment of funds.

The long-term trend indicator MVRV-ZScore is based on the total cost of the market and reflects the overall profitability of the market. When the indicator is greater than 6, it is the top range, and when the indicator is less than 2, it is the bottom range. MVRV fell below key level 1 and holders were in the red overall. The current indicator is at 1.54, entering the recovery phase.

Institutional crypto investment products continued to have net inflows, but the inflows fell sharply.

2. Futures market

Futures Funding Rate: This week’s rate is positive, and the market sentiment is normal. The market began to adjust after BTC rates hit their highest rate of the year on Nov. 12. The rate is 0.05-0.1%, which is the short-term top of the market with more long leverage, and the rate is -0.1-0%, which is the short-term bottom of the market.

Futures holdings: The total BTC positions fell sharply this week, basically keeping pace with price fluctuations.

Futures long/short ratio: 0.9. Retail sentiment is bearish. Retail sentiment is mostly a contrarian indicator, with panic below 0.7 and greed above 2.0. The long-short ratio data fluctuates greatly, and the reference significance is weakened.

3. Spot market

BTC rally seems to be running into resistance, but the overall trend remains healthy. Before and after the spot ETF news on January 10, it is likely to be the high point of short-term sentiment in the market. Recently, the development of the inscription track has shown significant vitality and innovation, resulting in the continuous rise of gas on the chain, and the highest peak has exceeded the three-year maximum gas.

B. Market data

First, the total lock-up amount of the public chain

Second, the proportion of TVL of each public chain

TVL as a whole rose $150 million this week, up about 3%. This week, the rebound after the market pullback is relatively strong. This week, TVL almost all rose, and the top 10 mainstream public chains all rose sharply. ETH chains rose 4%, BSC chains rose 2%, ARB chains rose 3%, OP chains rose 5%, and Cardano and SOLANA chains both soared around 45%. The BASE chain continues to soar by 23%, and the number of protocols is about to reach 200. It is worth noting that the top 20 mainstream public chains TVL have all risen in the past month, and it is clear that the market has recovered and walked out of the trough of more than a year in the past.

Third, the lock-up amount of each chain protocol

1. ETH lock-up amount

2. BSC lock-up amount

3. Polygon lock-up amount

4. Arbitrum lock-up amount

5. Optimism lock-up amount

6. Base lock-up amount

7. Solana lock-up amount

4. Changes in NFT market data 1) NFT-500 index

2. NFT market situation

3. The share of NFT trading market

4. NFT Buyer Analysis

There was a slight pullback in the price of the top blue-chip projects this week, with MAYC and BAYC both down around 7%, Pudgy Peguins up 2%, DeGods down 9%, CloneX down 7%, and Azuki and Milady up around 1%. The NFT market has seen a slight decline in trading volume over the past week. With the healthy correction of the broader market, the NFT market has also fluctuated with the broader market. Recently, early-stage entrepreneurial projects in the NFT market have gradually become active, mainly based on the establishment of on-chain identity. Looking forward to whether the NFT market will usher in a wave of explosion with the advent of the bull market.

Fifth, the latest financing of the project

6. Post-investment dynamics

1. Space and Time - Decentralized data platform Space and Time has released the latest version 0.22 of SxT beta:

The latest upgrades include:

Enhanced Table partitioning

Query performance is improved

Bug fixes

Join the SxT community for updates on SxT: discord.gg/ spaceandtimemedb

2）Space Nation- Gamefi

Space Nation Alpha 3.0 is now available for download!

Time:

December 13-20

0:00-2:00 UTC

11:00-13:00 UTC

Exciting gameplay, new spaceships, different mining modes, more PVP battles.

There are many more rewards waiting to be unlocked:

● OIK

● WLs for the Enforcer NFTs

● ORBs

● Points

3）MYX.Finance-Perpetual DEX

MYX has announced that it has deployed the BRC20’s plot inscription, which will play an important role in future Treasure Hunting Events, linked to future community events such as platform profit sharing, Airdrop, and more.

4. Polyhedra Network - ZK cross-chain communication protocol

Polyhedra Network launches a BTC cross-chain messaging protocol based on zkBridge to improve the interoperability of BTC networks. zkBridge enables light client smart contracts deployed on any blockchain network to directly verify the BTC PoW consensus and Merkle proof of each transaction. zkBridge allows all current and historical data on the BTC network to be transferred to any Layer 1 and Layer 2 blockchain network (e.g., ETH, BNB Chain, Arbitrum, etc.) and any on-chain application, and is compatible with the latest protocols on the BTC network (e.g., Ordinals, BRC-20, Atomicals, etc.).

In addition, by introducing a decentralized cryptoeconomic model based on the staking/re-staking mechanism and multi-party secure computation (MPC) technology, zkBridge allows other blockchains to securely verify data and write it to the BTC network. The system ensures security through staking and slashing mechanisms, and solves the cross-chain message verification problem caused by BTC does not support native smart contracts.

4. DappOS-Web3 operating system

As of December 12, 2 months after the integration of dappOS BENQI the Avalanche ecological lending protocol, there were 4,848 new users and 28,571 transactions. The new dappOS users deposited $12,877,782, with USDT and USDC depositing funds accounting for 18.17% and 16.62% of the total number of BENQI protocols, respectively. The amount of new dappOS users borrowed reached $7,199,765, and the funds lent by WBTC and WETH accounted for 80.57% and 45.75% of the total number of BENQI protocols, respectively.