BTC must break $98.5K to regain strength

Hot projects + Market overview

I. Mainstream exchange news

• WOOFi has launched the Stake Surge event, offering a reward of 1 million PEAR tokens.
• Binance has listed Magic Eden (ME), introduced RAY/USDT, KOMA/USDT, VIRTUAL/USDT, and SPX/USDT perpetual contracts with up to 75x leverage, and partnered with Bitlayer, the first Bitcoin Layer 2 based on Bitcoin Finality, to launch the BTCFi Carnival with a $1.2 million BTR airdrop.
• Coinbase has listed the ME token and will list the Gigachad (GIGA) and Turbo (TURBO) tokens.
• Bitget has listed the Koma Inu (KOMA) token.
• HTX has listed the Conflux (CFX) token.

II. Mainstream projects and trending events

• According to Alternative.me, the Fear & Greed Index showed 72 (Greed) on December 10, indicating a shift towards a 'Greed' state in the market.
• Base has earned nearly $20 million in fees in the past 90 days, making it the highest-earning L2
• Elon Musk's AI model Grok now features a "Meme Generation" capability. Musk showcased this by releasing an AI-generated PEPE meme image, which he described as "crazy nightmare fuel."
• Ripple CEO Brad Garlinghouse has announced that stablecoin RLUSD has received final approval from the New York State Department of Financial Services.
• Synthetix has announced the acquisition of the leveraged token platform TLX in a token-for-token trade, offering 18 TLX for 1 SNX with a lock-in and vesting period.
• BNB ecosystem memecoin KOMA has partnered with Web3 investors and market makers DWF Labs to promote Web3 creativity and community development.
• Bitcoin's largest staking protocol Babylon has launched the Cap-3 phase mainnet staking.
• FLock.io, a decentralized AI Model Training platform, has released a decentralized artificial intelligence knowledge systematization solution.

III. Funding news

• Bitcoin trading app Relai has completed a $12 million Series A funding round led by Ego Death Capital.
• Web3 AI cloud startup Hyperbolic has completed a $12 million Series A funding round, which was led by Variant and Polychain Capital.
• Hong Kong-listed company Boyaa Interactive has strategically invested in the Web3 asset management platform BounceBit.
• Lending platform Neptune Protocol has completed a $3.9 million seed funding round participated in by Bloccelerate.
• Bitcoin mining company BTC Digital has raised $20 million through a public offering.
• Crypto AI project Exabits has completed a $15 million seed funding round led by Hack VC.

IV. Regulatory news

• Italy plans to reduce its proposed hike in cryptocurrency capital gains. Officials also suggested to maintain the current 26% rate.

V. Popular projects 

Market overview

Bitcoin has fallen to a low of $94,150 while its market dominance increased to 57.13%. To shift back into an upward trend, Bitcoin needs to surpass $98,500.

The TOTAL3 index, which gauges the performance of altcoins, briefly fell to $930 billion but has rebounded to around $1 trillion.

The market's attention remains on Bitcoin's fluctuating dominance and the recovery of the ETH/BTC exchange rate, as these factors are expected to influence future trends.

KOMA: BSC ecosystem meme

KOMA, a Base memecoin touted as the "son of SHIB," features a dog.

The total token supply is 1 billion, with 34,600 holders and $4.5 million in on-chain liquidity.

Its market cap surged to $120 million following Binance's perpetual contracts listing announcement.

DEGENAI: Breakout project in the AI sector

DEGENAI, developed by the same team behind Ai16z, is another AI agent fund launched on the daos.fun platform.

Both tokens allow investors to profit from the fund’s investment returns. DEGENAI acts as the fund manager for Ai16z, mainly earning from management fees.

The current market cap of the DEGENAI token is $55.83 million.

ALCH: AI platform breakthrough in gaming

Alchemist AI, a platform that combines AI with various gaming applications, allows users to create mini-programs in the Sacred Laboratory.

These can be fine-tuned or augmented with unique features using the Wizard Chat Bot. Completed applications can be uploaded to the Arcane Forge where they are sold for ALCH-set prices.

The total supply of ALCH is 1 billion, with 85% allocated for liquidity, 5% for marketing, 7% for funds and ecosystem development, and 3% for the team. Its current market cap stands at $122 million.

FARTCOIN: Leading AI Memecoin

Fartcoin is a memecoin driven by the Terminal of Truth concept, aiming to explore AI boundaries and observe unique AI behaviors in an open environment.

Through Andy Ayrey's Terminal of Truth platform, users set up chat rooms to observe unrestricted dialogues between two AIs.

It currently has $9.2 million in on-chain liquidity and a market cap of $450 million.

TAI: AI sector project

TAI is a scalable AI-driven Web3 infrastructure built on the Solana blockchain.

It features the Tars AI Hub, which aggregates diverse AI models for easy access by Web3 users without registration. Tars Space allows Web3 startups to create customized brand spaces, and Claimer automates token management and ownership. TAI's market cap stands at $183 million.

Disclaimer

The development and market cap of stablecoins mentioned in the above content are speculative and based on market analysis at the time of writing and should not be interpreted as guaranteed outcomes. Market conditions can fluctuate widely and unpredictably due to numerous factors such as regulatory changes, market demand, and global economic developments. 

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