Author: Deep Tide TechFlow
Yesterday's Market Dynamics
Spot Gold Rises to $4450/Ounce This Morning, Hitting Another Record High
According to Jinshi Data, spot gold rose to $4450 per ounce this morning, setting another historical high, with a daily increase of 0.15%.
Michael Selig Has Officially Been Sworn In as US CFTC Chairman
According to Cryptobriefing, Michael Selig, a pro-Bitcoin figure, has officially been sworn in as Chairman of the US Commodity Futures Trading Commission (CFTC), following his confirmation by the US Senate.
In a statement, Selig noted that the CFTC is entering a significant period of transformation, driven by increased retail participation and the emergence of new products and platforms. He stated that the agency will play a larger role in establishing practical regulatory standards for the digital asset market while maintaining the stability and security of the US derivatives market. Selig emphasized: "We are at a unique moment where various new technologies, products, and platforms are emerging, retail participation in commodity markets is at an all-time high, and Congress is about to send digital asset market structure legislation to the President, solidifying the US's position as the 'crypto capital.'"
Prior to joining the CFTC, Selig served as Chief Legal Counsel of the US Securities and Exchange Commission (SEC) Crypto Working Group and Senior Advisor to Chairman Paul Atkins.
Fed Governor Milan: The Need for a 50 Basis Point Rate Cut Has Weakened
Federal Reserve Governor Milan stated that with the recent progress in monetary policy adjustments, the necessity for the 50 basis point rate cut he previously advocated has diminished. Milan pointed out that there have been some abnormal fluctuations in recent inflation data, partly related to the government shutdown. These anomalous signals suggest that the Fed's policy stance should shift towards a more accommodative direction. He emphasized that he does not currently see a risk of the economy falling into recession in the short term but believes that the neutral interest rate level has clearly shifted downward, and monetary policy must reflect this structural change. If policy rate is not consistently lowered to align with the new neutral level, it could instead increase the risk of the economy falling into recession. Additionally, regarding his own term, Milan admitted he is uncertain whether he will remain. He stated: If no successor is confirmed by the end of January, I will assume that I will continue to serve by default.
Uniswap's "UNIfication" Fee Switch Proposal Has Reached the 40 Million Vote Threshold for Passage, Will Take Effect This Week
According to Cointelegraph, Uniswap's fee switch proposal "UNIfication" has reached the 40 million vote threshold for passage and will take effect this week.
As of Monday, the proposal had received nearly 69 million affirmative votes, with voting ending on Thursday (Christmas Day). After the proposal passes, there will be a two-day timelock period, after which the Uniswap v2 and v3 fee switches will be activated on the Unichain mainnet, triggering UNI token burns.
The proposal will burn 100 million UNI tokens from the Uniswap Foundation treasury and implement a protocol fee discount auction system to increase liquidity provider yields. These changes are expected to significantly improve the supply and demand dynamics of the UNI token and enhance its long-term holding value.
Since voting began, the UNI price has risen over 25% and is currently trading at $6.19.
Espresso: Eligibility Check for ESP Airdrop Now Open, Token Claiming to Begin in Early 2026
According to an official announcement, the blockchain infrastructure Espresso Foundation has officially launched the $ESP token registration portal. Users can now connect their wallets to check if they are eligible for the Espresso airdrop. The token claiming page will open in early 2026.
Previous news indicated that Espresso completed a $28 million Series B funding round in 2024, led by a16z.
Hyperliquid Responds to Transparency Concerns, Emphasizes On-Chain Solvency is Fully Verifiable
Hyperliquid issued an official statement responding to multiple criticisms raised in a recent article about its platform. The statement emphasized that Hyperliquid is built on on-chain transparency, the platform is fully solvent, and every dollar is traceable and verifiable. Officials pointed out that critics overlooked the existence of HyperEVM USDC, incorrectly claiming the system was missing $362 million.
The statement clarified that testnet functions are only for the test environment and cannot be executed on the mainnet; the platform has no privileged users or fee exemptions; the CoreWriter function was misunderstood and cannot arbitrarily mint tokens or move user funds.
Hyperliquid stressed that as the only major perpetual contract platform with fully transparent state and transactions, anyone can run a node to verify the on-chain state, and every order, trade, and liquidation can be checked in real-time, a transparency advantage that other major trading platforms lack.
Sources: Polymarket Plans to Launch Its Own L2
Polymarket trader PredictTrader (@polymarketbet) summarized information recently disclosed by Polymarket team member Mustafa on social media, with key points as follows:
-
Polymarket plans to migrate away from Polygon and intends to launch its own Ethereum L2 service, POLY. Launching POLY is the "top priority."
-
Polymarket plans to abandon all third-party vendors (GoldSky, Alchemy, etc.).
-
This week, Polymarket will launch 5-minute markets.
Japan's Largest Bitcoin-Holding Company Metaplanet Approves Issuance of Dividend-Preferred Shares
According to Cointelegraph, Japan's largest corporate Bitcoin holder, Metaplanet, approved a comprehensive overhaul of its capital structure on Monday, allowing it to raise funds from institutional investors by issuing dividend-preferred shares. The approved proposals include reclassifying capital reserves, doubling the authorized number of Class A and Class B preferred shares, and modifying the dividend structure to introduce floating and periodic dividends. Class A preferred shares will adopt a monthly floating dividend mechanism, while Class B preferred shares will offer quarterly dividends and be open to international institutional investors. It is reported that Metaplanet currently holds approximately 30,823 Bitcoins, valued at $2.75 billion, making it the largest corporate Bitcoin holder in Asia. The company also announced it will trade on the US over-the-counter market through American Depositary Receipts, further expanding its global market presence.
JPMorgan Considers Providing Cryptocurrency Trading Services for Institutional Clients
According to Bloomberg, Wall Street giant JPMorgan is evaluating the possibility of providing cryptocurrency trading services for its institutional clients. People familiar with the matter revealed that the bank's markets division is exploring products and services to expand its cryptocurrency business scope, potentially including spot and derivative trading.
Coinbase Acquires Prediction Market Startup The Clearing Company
According to The Block, Coinbase has reached an agreement to acquire prediction market startup The Clearing Company, with the transaction expected to be finalized in January 2026. This acquisition is part of Coinbase's "all-in-one exchange" strategy, aiming to deepen its presence in the event trading space. The Clearing Company team will join Coinbase to help expand its prediction market products. The startup was founded this year and received $15 million in seed funding in August, with investors including Coinbase Ventures.
Trump Media Spends $13.44 Million to Acquire an Additional 150 BTC
According to Arkham monitoring data, approximately 9 minutes ago, Trump Media, owned by Donald Trump, spent $13.44 million to acquire an additional 150 BTC. Trump Media's Bitcoin holdings now total 11,241 BTC, worth approximately $1 billion.
Market Trends
Recommended Reading
20x in 2 Days: A Quick Look at the Automated Market Making Mechanism of the New Meme Coin Snowball
This article details Snowball, a new type of Meme coin that uses an automated market making mechanism to convert transaction fees into buying pressure and liquidity, preventing developers from directly running away with funds. Snowball's mechanisms include: automatic token buybacks, increasing liquidity pool depth, and burning tokens to create deflation, with its creator fee ratio fluctuating with market capitalization. This mechanism relies on sustained growth in trading volume to maintain its snowball effect but may face challenges in the current sluggish market environment.
Coinbase 2026 Crypto Market Outlook: Deep Financial Integration, Innovating with Cautious Optimism
This article discusses how the crypto industry is at a critical stage of deep integration with the core of finance. It primarily explores the outlook for the 2026 crypto market, including analyses of market structure, tokenization, technological changes, and regulatory dynamics, and proposes key directions for future development. Additionally, the article mentions specific crypto industry trends, such as the rapid growth of stablecoins, the potential of prediction markets, and the composability of crypto derivatives.
Interpreting Messari's 100,000-Word Annual Report (Part 1): Why Did Market Sentiment Collapse Completely in 2025?
Based on Messari's annual report "The Crypto Theses 2026," this article analyzes the reasons for the complete collapse of crypto market sentiment in 2025. Although there was no systemic crash, sentiment fell to a historical low. The report points out that this phenomenon reflects a deep-seated misalignment between market participants and market structure, particularly the pressure exerted by monetary system imbalances on savers. Furthermore, the report explores the establishment of Bitcoin (BTC) as "real money" and its impact on other Layer 1 blockchains.
Tracking 118 Coins Launched in 2025: 85% Are Below Their Launch Valuation
This article analyzes data from Token Generation Events (TGEs) launched in 2025, finding that 85% of tokens currently have valuations below their issuance valuation, with the median token's fully diluted valuation down 71% and market capitalization down 67%. The crypto market is undergoing a transition from retail speculation-driven to institutionally dominated ecosystems. Stablecoin payments are increasingly centralized, with significant growth in trading volume and number of transactions. Additionally, the AI agent economy and crypto finance sector also demonstrate potential and challenges for future development.
1,000 Wallets Contribute 85% of Trading Volume: Stablecoin Payments Are More Centralized Than You Think
This article analyzes the use of stablecoins in blockchain payments, focusing on the trading patterns of the two main stablecoins, USDT and USDC, on the Ethereum network. Using data filtering methods and label classification techniques, the article explores stablecoin payment adoption rates, distribution of transaction types, drivers of payments, and future trends.
