English繁體中文简体中文TürkçeРусскийPortuguêsУкраїнськаTiếng ViệtEspañol
News & Insights

Bitcoin's drop drags altcoins into steep declines with no signs of recovery

Bitcoin's drop drags altcoins into steep declines with no signs of recovery

Hot projects + Market overview

I. Mainstream exchange news

  • Bitget has launched the MOVE/USDT perpetual contracts with up to 75x leverage and listed the Lumoz (MOZ) token. The exchange has also introduced Bitget Wrapped Bitcoin (BGBTC), offering double BGPoints rewards during the Pre-Launch period.
  • OKX has launched the MOVE token for leveraged trading, perpetual contracts, and simple earning features.
  • Binance has listed the Movement (MOVE) token for spot trading.

II. Mainstream projects and trending events

  • Anton Tkachev, a deputy in the Russian State Duma, has proposed a national strategy for Bitcoin reserve. 
  • Elon Musk stated that the Biden administration is doing everything possible to hinder government efficiency, but DOGE is unstoppable.
  • The lending protocol Suilend within the Sui ecosystem has announced that its SEND token will be launched on  December 12.
  • Ethereum Layer 2 Network Movement has opened airdrop claims.
  • Over Protocol, a Layer 1 blockchain node optimization project, has announced that airdrop claims will open on December 16.
  • Sushi, a multi-chain decentralized exchange platform, has released its 2025 product roadmap, which includes plans to list new products including the on-chain order book Susa.
  • Simulacrum AI, an AI agent on Base, has announced that tokens launched on X will be eligible for cross-chain transfer to Solana if they reach specific market value or trading volume thresholds. 
  • Pump Science's roadmap update reveals plans for upcoming experiments with Rifampicin (RIF) and Urolithin A (URO) on mice, scheduled for January 25, 2025. This progression from fruit fly trials to mammalian models is a significant milestone in Pump Science's DeSci-driven research.
  • Magic Eden Wallet ME airdrop has been scheduled for December 10 and it supports Solana NFT traders to use ME for transactions. Co-founder and CEO Jack Lu tweeted that the co-founders will lock up ME tokens for 18 months.

III. Funding news

  • Bitcoin lending platform Lava has completed a $10 million Series A funding round participated in by Founders Fund and Khosla Ventures.
  • Bitcoin mining company Riot Platforms has announced plans to raise $500 million through the issuance of convertible preferred notes.

IV. Popular projects 

​​Market overview

Bitcoin has dropped below the key $96,000 support level and is now hovering around this mark.

A solid break below could signal a correction with potential targets between $81,000 and $88,000.

Altcoins also face steep declines, with the TOTAL3  index, which gauges the performance of altcoins, falling from a high of $1.13 trillion to $978 billion, showing no immediate signs of recovery.

SKICAT: Base ecosystem meme 

SKICAT is a memecoin built on the Base ecosystem, themed around a masked cat.

Its followers grew to 1,956 on X and maintains $880,000 in on-chain liquidity.

The SKICAT token has reached a market cap of $40.59 million.

PEP: Pepecoin in the Dogecoin tradition

Pepecoin, developed by Dogecoin Shibes and brothers Zordiak and Karzo, adopts a similar model to Dogecoin.

It continuously rewards miners with new Pepecoins for each block, with the rate fixed at 10,000 Pepecoins after the 600,000th block.

Pepecoin has reached a market cap of $100 million.

PEAQ: Rising star in the DePIN sector

Peaq is a Layer 1 blockchain dedicated to the DePIN sector, boasting connectivity for over 100,000 devices including machines, vehicles, and robots.

These devices are linked to the blockchain through Peaq’s technology, facilitating on-chain operations and interactions.

The PEAQ token's market cap stands at $400 million.

GRIFFAIN: AI agent platform

Griffain offers an AI agent platform where users can create personalized AI agents.

Accessible with an early pass purchased for 1 SOL, these agents process inputs and perform actions on the blockchain, using tools to sign and send transactions via connected wallets.

The GRIFFAIN token currently has a market cap of $47.93 million.

On-chain daily

1. ZODsZODs is an AI-powered DeFi toolkit on Solana that enables users to execute trades via natural language through custom AI agents.

2. OttoOtto is an AI Agent token on Base, developed by @BuildonHybrid. It serves as an access point to Hybrid’s modular AI agent framework API.

3. REALISREALIS is an AI Agent token on the Solana chain, designed to simulate a realistic Earth. Players can engage in resource trading, and alliance negotiations, and observe AI responses to dynamic and complex scenarios.

4. TSOTCHKETSOTCHKE is a quantum AI token on Solana that bridges physical and AI realms for collaborative synergy.

5. GRIFFAINGRIFFAIN is an AI agent engine token on the Solana chain, offering a Web3-style ChatGPT platform. Recently, Solana announced that GRIFFAIN can be used to purchase physical goods from its official store.

6. LuigiLuigi is a memecoin on the Solana chain inspired by recent tragic news involving Brian Thompson, UnitedHealthcare’s CEO, who was fatally shot in NYC. The token’s narrative centers around the alleged assailant, Luigi Mangione. The project has completed its CTO.

Bitcoin ecosystem overview

BTC Mainnet Gas Fee Update:

  • The current BTC transaction fee is 4 satoshis/byte.
  • The price trend remains consistently low, with overall stability.

Fractal Bitcoin Gas Fee Update:

  • Transaction fees are now 6 satoshis/byte.
  • Trading activity is low, and the gas fee remains subdued.

Inscription, Rune, and Fractal Bitcoin Leading Token Tracking:

ORDI:

  • Current Price: $37.20
  • 24-Hour Change: -21.5%
  • Market Cap: $783.12 million

DOG:

  • Current Price: $0.0085
  • 24-Hour Change: -10.31%
  • Market Cap: $860.04 million

FB:

  • Current Price: $5.77
  • 24-Hour Change: -13.5%
  • Market Cap: $44.96 million

Today's Popular Projects:

unisats: Named after the team that introduced the concept of Fractal Bitcoin.

  • Current Market Cap: $3.03 million
  • 24-Hour Trading Volume: $354.33
  • 24-Hour Change: +6.4%
  • Number of Holders: 517,488

𝛑: Currently one of the leading inscription projects, with a general upward trend in market cap over the past month. It has a large community and an increasing number of holders.

  • Current Market Cap: $677.21 million
  • 24-Hour Trading Volume: $2.13 million
  • 24-Hour Change: +13.53%
  • Number of Holders: 47,510

BULLX•BULLX•BULLX: An experimental token issued by LeapX to demonstrate its asset transfer and transition functionalities.

  • Current Market Cap: $2.47 million
  • 24-Hour Trading Volume: $4.83K
  • 24-Hour Change: +34.28%
  • Number of Holders: 12,538

Performances of today's top three tracks

CeFi: Overall Daily Sector Change: -5.32%

1. TROY: A hybrid asset management platform aggregating major decentralized and centralized exchange sources, primarily providing brokerage services for institutional users.

  • Daily Increase: +21.04%
  • Current Price: $0.00529
  • Market Cap: $52.93 million
  • 24-Hour Trading Volume: $216.28 million
  • Recent Updates: Released TroyPump.meme on BNB Chain on November 20.

2. SCLP: A "Bank as a Service" provider simplifying how individuals and businesses manage cryptocurrencies and fiat currencies.

  • Daily Increase: +9.88%
  • Current Price: $0.1413
  • Market Cap: $10.75 million
  • 24-Hour Trading Volume: $8.12K
  • Recent Updates: Integrated with Solana.

3. LEO: A utility token created for use on Bitfinex and other trading platforms operated by its parent company, iFinex.

  • Daily Increase: +2.26%
  • Current Price: $9.50
  • Market Cap: $8.78 billion
  • 24-Hour Trading Volume: $1.93 million

Layer 1: Overall Daily Sector Change: -10.20%

1. CELL: A quantum-resistant Layer 1 network enabling scalable cross-chain transfers.

  • Daily Increase: +79.90%
  • Current Price: $1.2172
  • Market Cap: $35.04 million
  • 24-Hour Trading Volume: $4.28 million
  • Recent Updates: Launched a bi-directional mode.

2. PEAQ: A Web3 network supporting IoT (EoT) on Polkadot. Enables entrepreneurs and developers to build Dapps for vehicles, robots, and devices.

  • Daily Increase: +3.27%
  • Current Price: $0.6285
  • Market Cap: $404.78 million
  • 24-Hour Trading Volume: $99.52 million

3. CCD: A proof-of-stake blockchain with identity features built into the protocol to meet regulatory requirements.

  • Daily Increase: +1.71%
  • Current Price: $0.00415
  • Market Cap: $45.76 million
  • 24-Hour Trading Volume: $757.43K

Layer 2: Overall Daily Sector Change: -10.58%

1. MOVE: A modular, Move-based blockchain ecosystem.

  • Daily Increase: +3761.50%
  • Current Price: $0.7723
  • Market Cap: $1.74 billion
  • 24-Hour Trading Volume: $1.75 billion
  • Recent Updates: Listed on multiple exchanges, including Binance, OKX, Gate.io, and Hashkey.

2. A8: Ancient8 is a GameFi infrastructure focused on software and community. It is building GameFi Identity and Launchpad products as marketing distribution channels for GameFi and Metaverse projects.

  • Daily Increase: +45.51%
  • Current Price: $0.3747
  • Market Cap: $86.93 million
  • 24-Hour Trading Volume: $20.16 million
  • Recent Updates: Hosted a technical seminar sharing insights on the Ancient8 Builder Jam.

3. MAPO: A cross-chain interoperability protocol supporting Dapps.

  • Daily Increase: -1.42%
  • Current Price: $0.03326
  • Market Cap: $79.25 million
  • 24-Hour Trading Volume: $4.75 million
  • Recent Updates: The community initiated a vote on a proposal for MAPO token buybacks and burns.

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. 

The information provided in this article is for general informational purposes only and does not constitute financial, investment, legal, or professional advice of any kind. While we have made every effort to ensure that the information contained herein is accurate and up-to-date, we make no guarantees as to its completeness or accuracy. The content is based on information available during writing and may be subject to change.

Please note that this article includes references to third-party websites and data provided solely for convenience and informational purposes. We do not endorse or assume any responsibility for the content, accuracy, or reliability of any information, products, or services offered by third parties.

Cryptocurrencies involve significant risk and are NOT suitable for the majority of investors. The value of digital currencies can be extremely volatile, and you should carefully consider your investment objectives, level of experience, and risk appetite before participating in any staking or investment activities.

We strongly recommend that you seek independent advice from a qualified professional before making any investment or financial decisions related to cryptocurrencies. We shall in NO case be liable for any loss or damage arising directly or indirectly from the use of or reliance on the information contained in this article.

Read Next
BTC drops below $98.5 support, as the market awaits new trend

BTC drops below $98.5 support, as the market awaits new trend

BTC failed to rebound into the $103,000-$104,000 range. The focus remains on whether it can reclaim the 4-hour MA140 at $99,200, which would suggest a mere consolidation rather than a downturn.

BTC dropped to $98K after Powell's comment

BTC dropped to $98K after Powell's comment

Bitcoin has dropped to $98.8K after Fed Chair Powell said the Fed is 'not allowed' to own cryptocurrency. Meanwhile, the TOTAL3 index, which tracks altcoin performance, has dropped to $945 billion, nearing its December 10th low.

We use cookies to improve your experience. To find out more, please read our Privacy Policy. By clicking "Accept", you consent to our cookie and Privacy Policy. Or you may click "Decline" to refuse to consent.