Farcaster announces strategic shift: from a social-first approach to wallet-driven growth.
Farcaster co-founder Dan Romero announced on social media that the project focuses on creating a wallet that attracts more users. After a four-and-a-half-year trial of a social-first strategy that failed, they decided to increase investment in this area as the wallet business continued to grow. This means that new features and product positioning will be centered around the wallet. Romero emphasized, "We have transformed; the product is now focused on wallet users. And the most important function of our wallet is trading. That's the core. People are free to use the product without using the wallet. But we focus on the wallet/trading."
HumidiFi: New token public sale will begin on December 8th at 23:00.
HumidiFi announced on its X platform that its new token public sale will begin at 10:00 AM Eastern Time the following day, which is 14 hours later. This corresponds to 11:00 PM Beijing Time on December 8th. Previously, HumidiFi stated that its initial public sale was disrupted by bots, preventing ordinary users from participating. It will restart the public sale next Monday and airdrop new tokens, distributing them proportionally to Wetlist and JUP staking users.
According to on-chain analyst Ember, a whale went long on 1.38 million HYPE tokens (worth $41.36 million) at $38.60 and is currently experiencing a paper loss of $12.01 million. His liquidation price was $23.70.
According to Reuters, Robinhood announced in a blog post on Sunday that it will acquire Indonesian brokerage firm Buana Capital Sekuritas and licensed digital asset dealer Pedagang Aset Kripto, marking the retail trading platform's official entry into one of Southeast Asia's major cryptocurrency hubs. Indonesia boasts over 19 million capital market investors and 17 million cryptocurrency traders, highlighting its appeal in stock and digital asset trading. Acquiring brokerage firms helps companies meet regulatory requirements, establish a business presence, and thus more easily enter new markets; while acquiring licensed digital asset dealers accelerates access to cryptocurrency products. Robinhood did not disclose the financial terms of the transaction, which is expected to close in the first half of 2026. The company stated that Pieter Tanuri, the major shareholder of both Indonesian companies, will continue to serve as a strategic advisor to Robinhood.
According to Bloomberg, the median share price of publicly traded digital asset treasuries (DATs) in the US and Canada has fallen 43% this year. In contrast, Bitcoin has only fallen about 6% since the beginning of the year. Ethereum treasury company SharpLink's share price has fallen 86% from its peak, and its market capitalization is even lower than the value of its digital token holdings. Currently, the company's share price is about 0.9 times the value of its Ethereum holdings. SharpLink previously announced it was abandoning its original gaming business and instead issuing shares to purchase a large amount of Ethereum, causing its share price to surge by over 2600% in a few days. However, it is relatively fortunate compared to Greenlane, whose share price has plummeted by over 99% this year despite holding approximately $48 million worth of BERA crypto tokens. Furthermore, the share price of Alt5 Sigma, a WLFI treasury company supported by Trump's two sons, has fallen about 86% since its June peak. Some fortunate DAT companies still have a market capitalization higher than their underlying holdings, but most investors who bought near the peak have lost money, and 70% of these companies' share prices are likely to be lower than their beginning-of-year levels by the end of the year. The worst performers were publicly traded companies that avoided Bitcoin in favor of smaller, more volatile tokens. This volatility in their stocks was at least partly due to the heavy borrowing involved in their cryptocurrency acquisitions. Meanwhile, for smaller, lesser-known DAT companies, the chances of raising capital became even slimmer as cryptocurrency prices fell and investor enthusiasm waned.
According to Cointelegraph, the AI project Bittensor will undergo its first halving on December 14, at which time the daily supply of TAO will decrease from 7,200 to 3,600.
Changpeng Zhao: Binance's registered users have exceeded 300 million.
Binance founder Changpeng Zhao posted on the X platform that "Binance has over 300 million registered users."
Ethena withdrew another 25 million ENA tokens from Bybit, worth $7.05 million.
According to Onchain Lens monitoring, Ethena further withdrew 25 million ENA from Bybit, worth $7.05 million. The wallet currently holds 779.89 million ENA, with a total value of $207.7 million.
ZKsync plans to abandon its early network, ZKsync Lite, in 2026.
According to The Block, ZKsync announced on Sunday that it plans to discontinue ZKsync Lite (formerly ZKsync 1.0), the original zero-knowledge rollup solution launched on Ethereum in 2020, sometime next year. In its announcement, ZKsync stated that this is a planned and orderly system phase-out, that the system has fulfilled its mission, and will not affect any other ZKsync systems. The team will release specific details, dates, and migration guidelines next year. According to L2BEAT data, although ZKsync Lite currently processes fewer than 200 operations per day, approximately $50 million in user funds remain on the network. ZKsync stated that the funds are safe, and withdrawals to L1 will continue to operate normally throughout the process. ZKsync emphasized that this discontinuation will not affect its other products. It is understood that Matter Labs, the company behind ZKsync, launched the fully functional zkEVM—ZKsync Era—in March 2023, a system capable of running arbitrary smart contracts, and has since ceased active development of ZKsync Lite. The team stated that their next focus will be on systems built on the ZK Stack, Prividiums, and the broader ZKsync network.
Hyperbot data shows that the long position held by the "whale that opened short positions after the 1011 flash crash" has increased to 54,277.3393 ETH, worth approximately $164 million, with an average opening price of $3,048.31 and a floating loss of approximately $950,000. In addition, five hours ago, it placed a buy order for 20,000 ETH at $3,000, worth approximately $6,000, which has not yet been filled.
According to on-chain analyst Ai Yi's monitoring, the "whale that opened short positions after the 1011 flash crash" has opened long positions in ETH again after 9 days. He currently holds 9010.4 ETH (US$26.77 million), with an average opening price of US$2959.4. He also has a limit buy order of 989.6 ETH at US$2958. If all of them are filled, his holdings will be exactly 10,000 ETH.
Michael Saylor, founder and executive chairman of Strategy (formerly MicroStrategy), posted another Bitcoin Tracker update on the X platform, writing "₿ack to Orange Dots?". Historically, Strategy typically discloses Bitcoin accumulation data the day after he posts the Tracker update.
Glassnode's latest weekly report points out that the current market situation bears similarities to the early stages of the 2022 bear market (also known as the crypto winter). Open interest continued to decline between November and December, indicating a decrease in market risk appetite, especially after the liquidation flash crash on October 10th. Options market sentiment is cautious, with investors more inclined to sell than chase gains. Earlier this week, as Bitcoin prices approached $80,000, put option buying dominated, but as prices subsequently stabilized and investor panic subsided, funds flowed into call options. Perpetual contract funding rates remained largely neutral, only briefly turning negative, while funding premiums also declined significantly, indicating a more balanced market environment and reduced speculation. ETF demand continues to weaken, with IBIT experiencing outflows for the sixth consecutive week, marking the longest consecutive negative outflow record since its launch in January 2024, with total redemptions exceeding $2.7 billion over the past five weeks. Derivatives data further confirms the decline in risk appetite.
Data: Total USDT supply surpasses 190 billion, setting a new record.
According to the latest data from Coingecko, the total supply of USDT, the USD stablecoin issued by Tether, has exceeded 190 billion, currently reaching 191,099,037,578 (of which the circulating supply is 185,632,100,913), with a market capitalization of $185,929,020,830, both of which are new all-time highs.
According to Token Unlocks data, tokens such as APT, LINEA, and CHEEL will see large-scale unlocks next week. Specifically: Aptos (APT) will unlock approximately 11.31 million tokens at midnight Beijing time on December 12th, representing 0.83% of the circulating supply, worth approximately $19.3 million; Linea (LINEA) will unlock approximately 1.38 billion tokens at 7 PM Beijing time on December 10th, representing 6.67% of the circulating supply, worth approximately $11.1 million; Cheelee (CHEEL) will unlock approximately 20.81 million tokens at 8 AM Beijing time on December 13th, representing 2.86% of the circulating supply, worth approximately $10.8 million; and BounceBit (BB) will unlock approximately 29.93 million tokens at 8 AM Beijing time on December 9th, representing 3.42% of the circulating supply, worth approximately $2.7 million.
According to Onchain Lens monitoring, a whale deposited 3 million USDC into Hyperliquid and opened a 10x leveraged short position on ETH.
According to Arkham's monitoring, a wallet suspected to belong to Wintermute has been actively accumulating SYRUP tokens recently. In the past two weeks, a total of $5.2 million worth of SYRUP tokens have been withdrawn from multiple exchanges and transferred to the market maker's associated wallet. As of now, this wallet holds approximately 20.397 million SYRUP tokens, worth $6.1 million.
According to Onchain Lens monitoring, a newly created wallet deposited 3 million USDC into Hyperliquid and opened a 10x leveraged long position in HYPE.
According to the People's Daily, Zhuang Rongwen, director of the Cyberspace Administration of China, pointed out in an interview with the People's Daily that the cyberspace administration will earnestly enhance its sense of responsibility and urgency in modernization and informatization. First, it will accelerate the innovation and breakthrough of network information technology, and accelerate the innovation of digital and intelligent technologies such as artificial intelligence and blockchain. Second, it will accelerate the development of the industrial ecosystem, promote the empowerment of the real economy by digital and intelligent technologies, and enhance the common service support capabilities of blockchain.
Data from blockchain analytics platform Nansen shows that "smart money" on Hyperliquid (typically referring to the highest-performing traders) is still betting on a short-term decline in Ethereum's price, with short positions increasing by $2.8 million in the past 24 hours. The total net short position in Ethereum on the platform now exceeds $21 million. Furthermore, analysis reveals that demand for ETFs, a key driver of Ethereum liquidity, remains insufficient. Farside Investors data shows that spot Ethereum ETFs have experienced net outflows for two consecutive days as of Friday, recording an outflow of approximately $75.2 million, compared to a net outflow of approximately $41.5 million the previous day.
