This Week in Review | Berachain and Solayer Launch Tokens; Justin Sun and Li Lin Involved in '$30 Million' Financial Dispute

BlockBeats will summarize the industry's key news of the week (2.3-2.9) in this article and recommend in-depth articles to help readers better understand the market and industry trends.

Important News Recap

This Week, BTC Falls Below $100,000, Mainstream Altcoins Drop Over 20%, Resulting in Over 700,000 Liquidations

On February 3, Bitcoin suddenly experienced a sharp drop, briefly falling below $93,000 with a 24-hour drop of 8.3%; subsequently, several altcoins followed the decline, with some falling over 20%. On the day of the market-wide decline, a total of $2.028 billion was liquidated within 24 hours, with long liquidations totaling $1.766 billion and short liquidations totaling $270 million. In addition, due to the intense price fluctuations in the crypto market, a total of 700,594 people were liquidated globally on that day.

Due to the significant price volatility, the liquidation data is not entirely accurate. Ben Zhou, CEO of Bybit, stated that the actual total liquidation amount in the cryptocurrency market on February 3 far exceeded $2 billion, with his estimate ranging from at least $8 billion to $10 billion. Bybit alone had a 24-hour liquidation amount of $2.1 billion.

The reason for the imprecise data is the API limitations in the real-time data feed from major exchanges.

Justin Sun and Li Lin Engage in a $30 Million Dispute Over HTX Acquisition, Prepared to Go to Court

This week, TRON founder and HTX Global Advisory Council member Justin Sun posted on social media, stating, "Those familiar with the situation know that Lili [Li Lin] concealed the due diligence materials at the time, left a $30 million hole in the company internally, and when I discovered the sabotage and exposed it, he refused to admit to it and was entirely uncooperative. I personally lent the company the money to cover for it."

Huobi founder Li Lin responded to Justin Sun's accusations by stating that during the October 2022 HTX settlement process, there was a significant discrepancy between the parties in the calculation of user assets, and there have been multiple communications with Justin Sun who explicitly expressed a desire to further reconcile accounts and clarify facts. Therefore, this is not about any alleged "concealment of allocation" or "funds hole," but rather a misunderstanding in the calculation of financial data during the settlement due to significant changes in key personnel and financial data over the two years since the settlement.

Justin Sun's mention of a "$30 million fund hole" is fundamentally related to the exchange's margin trading business and the liquidations that occurred due to extreme market conditions. During the settlement, this portion of the financial handling was already done using company revenue, and the assets delivered to the sellers completely covered the user assets, with no existence of a supposed "funds hole." Full support is provided for fair adjudication through the legal system in Hong Kong or a third-party arbitration organization to uphold the legitimate rights of all parties through legal means, rather than engaging in one-sided judgment through social media.

Binance Caught in Public Opinion Controversies Such as "Wash Trading" and "BFF Coin," How One Responds in Space

On February 3, in response to the recent phenomenon on Binance where new listings over the past year often experienced a "pump at listing" scenario, many users believed that Binance's listing standards were opaque and that listed projects seemed to be "insiders"; the voices of "wash trading" were widespread. In response to this, Binance co-founder He Yi, who had previously initiated Space dialogues with several projects that debuted on Binance Launchpad, addressed market concerns.

He Yi admitted that there are indeed issues with Binance's listings, a problem that is determined by current market structure and Binance's scale. Although Binance has been internally researching solutions to this issue, including discussions on voting for listings and Dutch auctions, they also face challenges in target selection and regulatory balance (any listing will need to provide a report to regulators). Therefore, Binance has not yet found a better solution and welcomes constructive suggestions from users and investors.

Meanwhile, Jason, the founder of Binance's 29th Launchpad project, Hooked Protocol, stated in Space that he has indeed had a romantic relationship with Primitive Ventures co-founder Dovey, but he denied any misconduct or favoritism issues between them during the Binance listing process. Dovey Wan also stated in another Space session the next day that she has known Hooked Protocol founder Jason for many years and had communicated with him when he first started Hooked, but they were not in a romantic relationship at that time. When she initially invested in Hooked Protocol, the valuation was $30 million, and the unlocking period was the same as other investors. Dovey Wan added that due to her unique identity, she did not actively participate in helping Hooked Protocol raise funds when the project sought financing, and she was also very surprised when Binance announced the launch of Hooked Protocol on Binance Launchpad.

He Yi stated in Space that he no longer serves on the investment committee of YZi Labs and will not have any investment impact on YZi Labs. The YZi Labs investment committee is currently mainly presided over by CZ and Ella.

US SEC Officially Announces Top Ten Priorities of Cryptocurrency Working Group, Website Launched

On February 5, the U.S. Securities and Exchange Commission (SEC) officially launched a brand new cryptocurrency working group website: https://www.sec.gov/about/crypto-task-force, and announced the top ten priorities. This series of actions marks a significant shift in the SEC's regulatory strategy towards crypto assets, moving from the previous emphasis on "enforcement" to a gradual shift towards "guidance and regulation."

Former Deputy Director of Beijing Financial Supervision Bureau Sentenced to 11 Years in Bitcoin Money Laundering Case

On February 8, according to Caixin, former Deputy Director of the Beijing Local Financial Supervision and Administration Bureau Hao Gang was sentenced to 11 years in the first instance. In addition to being involved in Bitcoin money laundering, Hao Gang had also assisted a senior executive of a leading Bitcoin mining company in lifting a border control order, and accepted bribes totaling millions of RMB. The Beijing Second Intermediate People's Court sentenced the defendant Hao Gang to eight years in prison for bribery and imposed a fine of RMB 500,000; and sentenced him to four years in prison for money laundering and imposed a fine of RMB 800,000, deciding to execute a ten-year prison term and impose a fine of RMB 1.3 million. The illegally obtained gains and interest from bribery were confiscated and turned over to the national treasury.

First Repayment by FTX to Begin on February 18, 2025

FTX creditor representative Sunil revealed on X that the FTX repayment will start at 10 a.m. Eastern Time on February 18, 2025, and will first repay creditors with claim amounts below $50,000. The repayment allocation will include 100% of the adjudicated claim value (up to $50,000), as well as an additional compensation amount of 9.0% annual interest on the adjudicated claim value from November 11, 2022, to the initial distribution date.

Berachain Issues Token BERA, Community Criticizes Airdrop Rules

On February 4, the Berachain Foundation officially announced that the Berachain token TGE would take place simultaneously with the mainnet launch. On February 6, the Berachain token BERA airdrop query was opened, and the tokenomics were disclosed. The total supply of tokens during the BERA Genesis period is 500 million, with initial core contributor allocation at 16.8%; investor allocation at 34.3%; community airdrop allocation at 15.8%; future community incentive allocation at 13.1%; and ecosystem and development allocation at 20%. After the token issuance announcement, several exchanges including Binance, OKX, Bybit, Bitget, Upbit, and Bithumb announced the listing of BERA.

However, the airdrop query has sparked community criticism. Many users who participated in the interaction previously expressed dissatisfaction with the airdrop amount, with many in the community stating that their efforts did not proportionally match their rewards, even though they participated in the testnet. Related Reading: "Berachain Airdrop Criticized: Almost "Wiped Out" by Looting Studio; Pre-deposit Requires 3-Month Lockup"

Solana Staking Platform Solayer Launches Token

On February 7th, according to official sources, Solana staking platform Solayer unveiled the LAYER tokenomics, with a maximum supply of 1 billion tokens and an initial circulating supply of 220 million tokens. LAYER will be distributed through the Emerald Card community sale and a genesis airdrop to early users. The LAYER tokenomics breakdown is as follows: Community and ecosystem 51.23%; Core contributors 17.11%; Investors 16.66%; Foundation 15%. For early eligible community members, the Genesis Drop will unlock immediately upon launch.

ETH Supply Surpasses Ethereum PoS Merge Levels

On February 5th, according to Ultrasound data, the current ETH supply has surpassed the Ethereum PoS merge levels. The data shows that the current ETH supply is 120,521,291 coins, slightly higher than the 120,521,140.92 coins at the time of the merge on September 15, 2022. Since Ethereum completed the transition to a Proof of Stake (PoS) mechanism, 1,947,607.01 ETH has been burned, while 1,947,757.18 ETH has been newly issued, resulting in a net supply increase of 150.17 ETH.

Bloomberg Criticizes Trump's New Policies Plunging Crypto Into Chaos, Lack of Effective Presidential Oversight in the U.S.

On February 7th, Bloomberg published an article questioning a series of actions in the crypto space by Trump since taking office, stating that the President and his entourage seem eager to establish their crypto empire. The family not only hopes to steer the U.S. towards a more crypto-friendly regulation but also seeks to carve out a place for themselves in the positive outcomes.

Based on the current (volatile) spot price, the TRUMP holdings of Trump-related entities are currently valued at approximately $14.9 billion, with risks equally staggering. As token buyers and industry insiders see an opportunity to curry favor with Trump, cronyism and corruption are sure to increase. Furthermore, ethical risks abound.

When Eric Trump tweeted insinuating Ethereum is a good buy, he was far from a neutral observer—his removal of the "you can thank me later" line from a post on X seemed to acknowledge this. Additionally, the company moved most of its reserves to Coinbase Global Inc., denying any sell-off plans, but it's hard to assess what specific insider information might be at play. Trump's tariff policies are certainly not favorable to the crypto market, and Eric Trump's pump effect is equally limited.

Bloomberg believes that without effective regulation enforcement and strengthening, oversight of the president's actions would become ineffectual, and currently Trump appears undisturbed by any constraints. The series of actions by Trump and Musk is a "textbook case of overconfidence," especially considering Trump was once convicted of fraud.

MicroStrategy Rebrands to Strategy, Sets $10 Billion "BTC Earnings" Target for 2025

On February 6, MicroStrategy Incorporated (Nasdaq: $MSTR) announced that the company is now operating under the name Strategy™. Strategy is the world's first and largest Bitcoin treasury reserve company, the largest independent publicly-traded business intelligence company, and a component of the Nasdaq 100 Index. Strategy (formerly MicroStrategy) has set a 2025 target for "BTC earnings" of $10 billion and has revised its 2025 annual BTC earnings yield target to at least 15%. The company achieved a 74.3% BTC yield in its 2024 fiscal year and recorded 2.9% for the first quarter of 2025.

Multiple Celebrities Report Twitter 'Hack' to Promote Meme Tokens, Kanye West Says Someone Paid for Deception

This week, several celebrities in various fields promoted meme tokens, with some claiming their Twitter was hacked after the token issuance. These tokens often experience rapid pumps and dumps before eventually "rug pulling," leaving the community meme players in distress.

On February 8, Kanye West took to social media to reveal that someone proposed a $2 million payment to him to launch a meme coin to defraud his fan community. Kanye himself has rejected this "collaboration" request. According to screenshots shared by Kanye, the "collaboration" sought to have Kanye promote a rug pull meme coin, prepaying $750,000, then declaring his account "hacked" after 8 hours of posting, and finally paying $1.25 million 16 hours after the post, with the mastermind behind the scenes claiming this "collaboration" could generate tens of millions of dollars in profits.
Upon this revelation, many community members questioned whether previous instances of celebrities posting about coins were indeed hacks or merely coordinated efforts between celebrities and behind-the-scenes actors to exploit retail investors.

Top Articles of the Week

"Sun Yuchen's 8 Years in the Crypto World, a Crypto Tale of Two Cities"

Justin Sun's influence in the cryptocurrency world continues to rise. Recently, he made headlines for splurging $6.2 million on a banana artwork, establishing connections with the Trump family, and getting involved in a financial dispute with Huobi founder Leon Li. Meanwhile, the once-touted "Ethereum killer" EOS has been gradually fading into obscurity as its parent company, Block.one, has been accumulating Bitcoin, becoming the world's second-largest BTC holder. The contrasting fates of these two projects are stark: Tron (TRON) has seen continued growth thanks to its USDT ecosystem and trading volume, while EOS has been marginalized after missing key opportunities. Today, Justin Sun's wealth and influence continue to expand, while Block.one relies on its Bitcoin reserves to maintain a capital advantage. The crypto industry's tale of two cities is still unfolding.

"Cryptocurrency Market Liquidation of $2 Billion, What Are the Reasons for the Decline?"

Bitcoin has recently experienced significant volatility, briefly dropping below $92,000. On February 3, the entire network saw a liquidation of over $2.28 billion, primarily influenced by three major factors. Firstly, the domestic AI large model DeepSeek caused market turbulence, with US officials accusing it of "stealing," leading to a slump in tech stocks and risk assets like Bitcoin. Secondly, the Trump administration implemented high tariffs, sparking market concerns about an escalation in the global trade war, causing Bitcoin to briefly fall to $91,000. Lastly, El Salvador revoked Bitcoin's legal tender status. Though the government continues to accumulate BTC, negative market sentiment further intensified the downward pressure on Bitcoin.

"Berachain Airdrop Criticized: Rug Pull Studio Almost 'Wiped Out'; Pre-Deposit Mandatory 3-Month Lockup"

The Berachain team recently announced the launch of an airdrop query tool and released the economic model of its token BERA, with an initial supply of 5 billion tokens and no maximum supply limit. Token allocation includes core contributors, investors, and the community, with the community portion covering airdrops, future initiatives, ecosystem, and development. Berachain is an Ethereum-compatible L1 public chain using a unique PoL consensus mechanism, dedicated to advancing the development of the decentralized finance ecosystem. The project has raised over $140 million and will be listed on multiple exchanges. However, despite the buzz surrounding the airdrop event, some users of the testnet have expressed dissatisfaction with the token distribution, especially raising concerns about the lockup period and airdrop rules.

"Market Manipulation, Retail Harvesting? Wintermute Founder Responds: We Are Not a Charity"

Wintermute's founder Evgeny Gaevoy responded to questions about his company's trading activities and market manipulation, expressing his frustration with the "keyboard warriors" on social media. He explained Wintermute's core business of profiting in the market through DeFi, CeFi, and OTC trades, emphasizing that the company is not shorting the market but earning profits through market-making strategies and arbitrage. Additionally, he clarified misconceptions about the company's market-making behavior, pointing out that the fundamental reasons for cryptocurrency market price fluctuations lie in supply and demand dynamics and macroeconomic influences.

"Is Trump Still Good for the Crypto Industry?"

After Trump launched meme coins like $TRUMP and $MELANIA, a significant amount of funds flowed in, leading to a liquidity crisis in the crypto industry. Meanwhile, Trump's policies such as imposing tariffs caused intense market volatility, with major coins like Bitcoin experiencing a significant price drop. Trump's changing attitude towards cryptocurrency and frequent policy adjustments could either bring new development opportunities to the industry or exacerbate market uncertainty and risks. Investors need to monitor policy developments and prudently navigate potential market turbulence.

"6 Young People 'Rocking' America, Musk Reveals Mystery DOGE Team: Average Age 22"

Musk-led "Department of Government Efficiency" (DOGE) recently garnered widespread attention for shutting down the over 60-year-old U.S. Agency for International Development (USAID). DOGE is composed of a young elite team, with members mostly aged between 19 and 25, including 19-year-old Edward Christian, who previously interned at Neuralink, and 23-year-old Luke Faritol, who worked for GitHub. The team's primary mission is to reshape government institutions through efficient technological means. Despite media criticism of the team's youthfulness, Musk insists that they are among the world's top software engineers. Whether this core team focused on simplicity and high technology can successfully drive government reform remains to be seen.

"28-Year-Old American Guy Gave a Coin to the Once $700 Billion Enron?"

This article revolves around the New Enron Company, telling a story that combines performance art with business. New CEO Connor Gaydos staged a social experiment and satire by reviving the bankrupt Enron company, gradually introducing a series of bizarre business moves, such as launching the Enron Nuclear Egg and releasing the cryptocurrency $ENRON, all framed as "performance art." These seemingly absurd actions not only satirize the former Enron tragedy but also prompt reflections on the complexity of information dissemination and public responses. In the end, Gaydos successfully crafted himself as an alternative artistic figure in the Web3 world through all these means.

"48-Hour Frenzy: 186,000 SOL Acquired, Decrypting the Crypto Culture Experiment Triggered by PAIN"

PAIN is a meme coin project incubated by Memeland, which raised approximately $38 million in just 48 hours, making it one of the largest meme coin presales in history. The project team later announced an 80% refund of the funds raised, sparking widespread controversy. Supporters believe that this move reflects an anti-rug-pull attitude, while skeptics point out that the refunded funds have depreciated and the remaining 20% is still sufficient to launch the project. PAIN's success was facilitated by Memeland's resources and celebrity effect, but its long-term development faces challenges. Over-commercialization may weaken its original charm, and meme coins are vulnerable to market fluctuations.

"BTC in Sideways Trading, Altcoins at New Lows, Has the Bull Market Ended? | Trader's Observation"

The Trump administration's policy impact on the cryptocurrency market has been limited and has brought negative impacts due to its macroeconomic policies and trade wars. Interest rate hikes and a strong dollar have led to market turmoil, especially with the poor performance of altcoins. Despite the short-term wealth effect of a meme coin bearing Trump's name, the market is doubtful about whether the bull market still exists. While Bitcoin has experienced some rebound, overall market sentiment is subdued, with liquidity shifting to Bitcoin. Macro-economic data shows a strong U.S. labor market, reducing the possibility of interest rate cuts, leading to a more complex market response.

"Is it Time to Exit the Cryptocurrency Market? Nearly 20% of Indicators Have Peaked and Retreated"

Some indicators in the current market have shown signs of a market peak, such as Bitcoin's Rhodl ratio, USDT current account financing rate, and altcoin seasonality index. These signals suggest that the market may be entering an overheated zone but do not necessarily mean the peak has been reached. Investors should remain vigilant, consider gradually reducing their holdings, convert profits into stablecoins or fiat currency, and avoid chasing higher-risk altcoins. Maintaining rationality and exiting in a timely manner is more important than waiting for the perfect top.

"How Chinese Developers Recognized by Base Founder Went All-In on On-Chain Economy | Base Builder Talk"

The Base ecosystem is rapidly gaining prominence in the Ethereum L2 ecosystem, thanks to the efforts of numerous developers and community members. BlockBeats' latest initiative, the "Base Builder Talk" column, has invited Asian teams and developers deeply involved in Base construction to share their experiences and insights. Onchain researcher Aaros (183Aaros.base.eth) mentioned in the interview that what attracted him to Base was its vision of a "global on-chain economy," especially Jesse's idea of "not just coders, but also creators and community builders." Furthermore, Aaros proposed the concept of "cyber reality," stating that on-chain economics is an interdisciplinary integration that emphasizes a new interactive mode of production and consumption, with the Base ecosystem driving the realization of this new paradigm.

"SEC Announces Top Ten Priorities of Cryptocurrency Working Group, Official Website Launched"

The U.S. Securities and Exchange Commission (SEC) recently launched a new cryptocurrency working group and released the top ten priorities, signaling a shift in its regulatory strategy from "enforcement" to a greater emphasis on "guidance and regulation." The new working group will focus on issues such as the securities attributes of crypto assets, cross-border regulatory cooperation, while easing enforcement efforts to create a more flexible regulatory environment for the industry. These changes aim to provide clearer regulatory guidance for investors and entrepreneurs, promote innovation and market development, and ensure effective anti-fraud protection.

"Beyond the Bear Market, Comprehensive Overview of Upcoming Popular Public Chain Ecosystem Projects"

After its launch on mainstream trading platforms, Berachain briefly surged above $15 but saw a rapid billion-dollar trading volume and a significant price drop, demonstrating the market's high volatility. Current popular crypto projects include MegaETH, Monad, Story, and Abstract. The GTE trading platform within the MegaETH ecosystem raised $10 million in funding and attracted market attention through an innovative decentralized trading model. Projects within the Monad ecosystem, such as aPriori, Kuru, and Kintsu, aim to optimize network performance through innovative liquidity staking and market mechanisms. The Story platform combines AI and cryptocurrency to introduce a new decentralized IP governance approach.

"DeepSeek’s Bursting of the AI Bubble: Is Crypto AI a Blessing or a Curse?"

The release of DeepSeek R1 and its open-source strategy has transformed the Crypto AI ecosystem, driving forward the decentralization of AI. Its groundbreaking self-learning training approach and low-cost model training have led to a major reshuffle in the Crypto AI market, with many token prices experiencing a sharp decline. However, this has actually paved the way for the long-term development of Crypto AI. DeepSeek R1 has not only challenged traditional closed-source AI models but has also impacted the hardware market, particularly NVIDIA's dominant position. Furthermore, DeepSeek's open-source model and new technology have brought innovation and cost reduction to several Crypto AI projects, providing an opportunity for the resurgence of the crypto market.

"Arthur Hayes New Article: Beyond Bitcoin Reserve Currency, the U.S. Crypto Hegemony Has Other Plans"

In this article, Arthur Hayes criticizes two main desires in the current cryptocurrency industry: establishing a Bitcoin Strategic Reserve (BSR) and promoting cryptocurrency regulatory bills. The author believes that the government's purchase of Bitcoin as a reserve asset may create market instability due to political motives. Additionally, the complexity of crypto regulation will only benefit large centralized companies, harming the spirit of decentralized innovation. The article argues that the truly effective solution should be to treat Bitcoin as a neutral global reserve asset, avoiding reliance on government intervention, and promoting a more equitable and meaningful development of cryptocurrency.

"From VC Coins to Meme Frenzy, the Crypto Market Has Had Enough"

This article delves deep into the changes in the crypto market, especially the fatigue among retail users. It is evident that the market has transitioned from a venture capital-dominated market at the beginning of 2024 to the meme coin frenzy. While meme coins initially provided retail investors with a more level playing field, they eventually became overly speculative, leading to a worsened market condition. Retail users are tired of losses, and the market has become rapid and competitive, emphasizing the importance of finding a new balance and calling for more attention to projects with practical applications and fair distribution mechanisms.

"AI Market Cools Off, Is Venice Based on DeepSeek Still an Ideal Pump Target?"

This article reviews the market fluctuations of AI projects, noting that emerging crypto projects often experience pullbacks after rapid growth, a process that helps filter out projects with long-term value. Despite many AI projects experiencing significant market cap declines, Venice AI has demonstrated long-term potential with its decentralized, uncensored nature and innovative tokenomics. However, Venice's launch process has also sparked controversy, especially regarding team operations and transparency.

"WSJ: Making Billions, He Gambled Big on Bitcoin to Turn It Around"

Michael Saylor made a large-scale Bitcoin purchase through MicroStrategy. Although the company did not launch a hot product, it raised funds to support its Bitcoin investment through stock and bond offerings, causing the stock price to soar and making him a representative figure of the Bitcoin craze. Despite the enormous risks and market volatility brought about by this strategy, Saylor remains steadfast in his bullish view of Bitcoin's scarcity and digital nature, believing it to be a revolutionary hedge against inflation. His company attracts funds through innovative investment tools while facing the risks of Bitcoin price fluctuations, yet its financial situation remains relatively stable for now.

"Event Update | Consensus HongKong 2025 to Be Held on February 18-20"

From February 18 to 20, 2025, CoinDesk will host Consensus Hong Kong in Hong Kong, bringing together key companies and figures in the blockchain, digital asset, and Web3 fields to drive industry development. The event's themes include the future of Bitcoin, the prospects of decentralized finance, and the evolution of the crypto market, with guest speakers including the Financial Secretary of Hong Kong, Binance, Solana, Tron, and other industry leaders. As the official media partner, The BlockBeats will provide readers with exciting on-site coverage. In addition, multiple related peripheral events will also take place in Hong Kong concurrently, covering technical exchanges, social gatherings, and industry summits.

"Tutorial | How to Find a KOL's Trading Address? With a File of a Hundred KOL Addresses Attached"

The influence of Key Opinion Leaders (KOLs) can significantly impact a project, and understanding their trading dynamics is of significant value to investors. Platforms such as gmgn and chain.fm can be used to find KOL addresses and analyze them based on their trading style, win rate, and other data. In addition to conventional public channels, some KOLs share specific trading information on Twitter. By combining this information, their addresses can be identified. Once you find a KOL's address, monitoring tools like debot can help you promptly receive trading information. For KOLs without publicly disclosed addresses, tracking their trading dynamics through forensic analysis can also be done.

"How Did the U.S. Become the Crypto Capital? a16z Releases 11 Articles Explaining"

The U.S. government is gradually adjusting its stance on blockchain and cryptocurrency, taking a more supportive attitude, providing clear rules and guidance to help the industry develop. Despite facing multiple challenges, recent actions such as the White House's executive order supporting blockchain development, the SEC establishing a new working group, and Congress advancing relevant legislation, show a more proactive regulatory trend. In addition, industry experts have raised several key issues, including the importance of decentralization, SEC adjustment suggestions, and support for the staking industry, providing valuable references for policymakers and driving innovation and leadership in the U.S. crypto sector.

"Tokenomics Report: Nearly $70 Billion in Tokens Will Unlock in 2025, Meme Average Lifespan Only One Year"

In 2024, the annual report released by Tokenomist revealed several key trends in the crypto market, such as token unlocks, low-circulating supply high FDV tokens, Memecoins, and the rise of AI agents. The report highlights the significant impact of token unlock events on market liquidity, especially in large-scale unlock events, such as Arbitrum and Sui, where the market sentiment before and after unlocking and changes in funding rates reflect investors' different expectations. Additionally, Memecoin returns have far outpaced Bitcoin and Ethereum, but their long-term success rate is low, with many projects short-lived. AI agents combining Memecoins and social media elements showcase a new trend in the crypto market, expected to further develop in 2025, bringing new innovations and challenges.

"Decrypting Moonshot Listing Data: 50% Face Inevitable Zeroing, TRUMP Emerges as the Top Dog"

Moonshot is a Meme coin trading platform based on the Solana blockchain that attracted a large number of users by simplifying the trading process and offering multiple fiat deposit methods amidst a subdued market sentiment. In the second half of 2024, with Trump launching the TRUMP token, the platform's trading volume surged, attracting many new users. However, out of the 116 tokens listed on Moonshot, over 85% of the project prices experienced significant declines, with most projects rapidly zeroing out in the short term. This demonstrates the high-risk nature of the Meme coin market, where the returns from short-term speculation often prove unsustainable, reminding investors to react rationally to market fluctuations.

"Controversy Arises Over megaETH NFT Sale: Giving Back to the Community or Seizing an Opportunity?"

megaETH has announced the launch of a new NFT series, The Fluffle, with a total supply of 10,000 and a price of 1 ETH per non-fungible SBT. Holders will receive a future 5% token allocation, sparking a heated debate in the market. Supporters believe the valuation is reasonable, with significant growth potential, and the project has rejected high VC investments to give the community a chance. Opponents, however, question whether this is a disguised ICO, selling tokens before the mainnet is live, possibly taking advantage of the bull market to prematurely harvest the community. There remains a divergence of opinions on the long-term impact of this model on the market.

"Quick Look at Latest Developments of Multiple Cryptocurrency ETFs: SEC Review Speeds Up, SOL and LTC Making Progress"

The U.S. Securities and Exchange Commission (SEC) has taken a more crypto-friendly stance under the new government leadership and has expedited the review process for cryptocurrency spot ETFs. Currently, the spot ETF applications for SOL, LTC, and XRP are leading the way, with SOL and LTC each having applications from 5 institutions. The LTC ETFs from Grayscale and Canary and the SOL ETF from Grayscale have been accepted by the SEC. The XRP spot ETF, applied for by 5 institutions, is awaiting SEC confirmation. Analysts believe that the SEC's change in attitude may be related to leadership changes, and the market holds an optimistic view on the approval of the LTC ETF. In addition, ETF applications for other crypto assets such as DOGE and DOT are also making progress.

"YC Spring Startup Guide Released: Besides AI Agent, Which Other Tracks Could Become the Next Trend?"

This article explores the development trends of Web2 and Web3 AI Agents based on Y Combinator's 2025 Spring "Request for Startups." It outlines six major tracks: AI open-source software, Agent development tools, vertical AI Agents, personal AI assistants, AI app stores, and B2A (Business-to-Agent). Web3 empowers AI Agents with decentralization, trustlessness, and composability, driving the rise of the AI + Crypto ecosystem.