Rewards Hub I. Crypto Market Overview
Key Takeaways
1.
Macro Environment
The US FDIC has proposed a regulatory framework for bank-issued stablecoins under the GENIUS Act, signaling growing institutional clarity. UK inflation fell to 3.2% in November, increasing the likelihood of a Bank of England rate cut. The Bank of Japan is expected to raise rates to 0.75% this week, potentially impacting global liquidity and crypto volatility.
2.
Crypto Market
The crypto market saw broad declines over the past 12 hours, with Bitcoin down 4.4% to $97,474 and Ethereum dropping 9.3% to $3,144.86, pressured by risk-off sentiment and ETF outflows. Most altcoins followed suit; Quant (QNT) bucked the trend, rising 4.4%, while Midnight (NIGHT) and Morpho (MORPHO) fell 4.5% and 1.5% respectively. QNT's gain is attributed to renewed market interest, while overall weakness is driven by macro volatility.
3.
Today's Outlook
Fear and Greed Index
98.00% Annual Percentile
22 Fear
Total Crypto Market Cap
$2.97T
Total Market Trading Volume
$91.87B
Altcoin Season Index
0.00%
Quarterly Percentile
18 / 100
Total Futures Market Open Interest
3.45B
Futures
775.42B
Perpetuals
II. Industry Updates
Macro-economic Policies
1.
Federal Reserve Governor Christopher Waller indicated that stablecoins could boost global demand for the US dollar, potentially reinforcing USD dominance in digital asset markets and supporting liquidity for BTC and DeFi.
3.
Recent US Federal Reserve rate cuts and dovish guidance have increased market volatility, leading to declines in BTC, ETH, and major altcoins, as traders reassess risk amid shifting macroeconomic conditions.
4.
UK inflation fell to 3.2% in November, below expectations, increasing the likelihood of a Bank of England rate cut. This could weaken GBP and potentially drive capital flows into crypto assets as investors seek higher returns.
5.
The Bank of Japan is widely expected to raise interest rates by 25 basis points to 0.75% on Friday, a move that could impact global liquidity and trigger volatility in BTC and other digital assets due to shifting yield differentials.
Cryptocurrency Regulatory Trends
3.
The UK government has launched a consultation on new crypto regulations, aiming to bring digital assets in line with traditional financial services by 2027. This is expected to enhance consumer protection and market transparency, potentially increasing institutional participation.
4.
Spain's CNMV has issued detailed guidance on implementing the EU's MiCA rules, clarifying investor protections and licensing for crypto platforms. This regulatory alignment is likely to facilitate cross-border operations and strengthen compliance across the European crypto market.
Trending Tokens
1.
Midnight (NIGHT): Midnight surged 19.4% in the past 24 hours, ranking as the top gainer. The rally is driven by strong market momentum and increased trading volume, but no specific project news or event was identified as the catalyst.
3.
Quant (QNT): Quant gained 4.4% over the past 24 hours, with daily trading volume reaching $15.5 million. The price increase is attributed to renewed market interest, but no major protocol updates or news were found in the last 24 hours.
Smart Money Movements
2.
A Bitcoin whale transferred 368,106 ETH, valued at approximately $1.08 billion, to five new wallets, while maintaining a long position exceeding $680 million in Bitcoin, Ethereum, and Solana.
3.
Institutional demand for Bitcoin surged 13% above daily mined supply, marking the first time since early November that institutional buying exceeded new BTC issuance, according to Capriole Investments.
4.
BlackRock deposited 47,463 ETH, worth about $140 million, into Coinbase Prime after a $221.3 million net outflow from its Ethereum ETF, reflecting ongoing institutional portfolio adjustments.
Events to Watch
Space will launch its $SPACE token public sale at 6:00 PM UTC on Solana, targeting $2.5M raise with FDV between $50M and $99M.
Bank of Japan holds monetary policy meeting, expected to raise policy rate to 0.75%; US November CPI data will be released, offering key inflation insights.
Dec 18 (Thu)
Bank of England to announce interest rate decision, widely expected to cut rates by 25bp to 3.75%; ECB to hold monetary policy meeting, rates likely unchanged.
Dec 19 (Fri)
US November Personal Consumption Expenditures (PCE) data will be released, providing a crucial measure of consumer spending and inflation trends.
III. Phemex Market Focus
New Listings
NIGHT, RAVE and US are now officially listed on Phemex Futures!
Phemex Promotions
Participate in trading NIGHT, RAVE, and US to share a prize pool of 30,000 USDT.
Join the Phemex Futures Trading Apex Competition and compete for top prizes.
Celebrate Phemex's 6th Anniversary with exciting events and rewards.
Take advantage of special USDT savings rates during our 6th Anniversary.
Explore wealth opportunities with Phemex's 6th Anniversary Wealth Springs event.