Web3 Weekly Research | Overall Crypto Market Fluctuated Significantly; DEX Trading Volume Hit A Record High in December
Weekly Trend Overview
The overall trend of the crypto market this week was dominated by volatile fluctuations. Most mainstream coins saw little change over the week. The large-scale rally brought about by the U.S. election has subsided. This week, various coins have maintained price changes with a small range of ups and downs.
After experiencing a significant decline recently, most mainstream cryptocurrencies have not shown a significant recovery trend after this week’s opening. Continuous fluctuations and declines are the mainstream market trend. Due to the obvious sideways trend of the overall market, the market value of major coins has not changed significantly, and the mainstream market sentiment has fallen again.
This week, BTC prices continued to fluctuate and are close to the opening price range, maintaining around $9,700. The weekly high is around $97,500, and the overall price is still below $100,000. Overall, the prices of key mainstream coins this week are in a clear and continuous oscillation cycle, and the subsequent market value is likely to maintain a small-scale change. The current market sentiment is around 51, and there is expected to be some changes in the market during the weekend closing period. The overall market value of the crypto market has increased slightly compared with the same period last week, maintaining at around $3.41 trillion, an increase of 3.14% in 24 hours.
Compared with last week, the overall performance of the crypto market this week has not changed much. Due to the recent consolidation of the top mainstream coins, the overall market has changed little. The price of BTC remained in a similar range in the past week, and the price continued to fluctuate in the range of $92,000 - $97,000. The price trend of ETH was similar. It has returned to the range of $3,500 again, but it is much higher than the opening price.
The overall volatility trend of the crypto market has changed little this week. After experiencing a recent large decline, the overall market lacks obvious upward momentum. Most of the top coins with the highest increase this week have maintained a moderate increase, with Protocol having the largest increase of about 51% weekly.
The probability of large-scale changes in the overall crypto market this weekend is low, and it is expected that changes will remain within a small range during the weekend. However, the rise and fall will most likely remain within the same cycle, and the market’s sideways trend will remain obvious in the short term.
Crypto Market
🔥According to data from The Block, the monthly trading volume of decentralized exchanges (DEX) reached a record high in December, with a total of $320.5 billion, breaking the $300 billion mark for the first time and breaking the record of $299.6 billion set in November.
🔥GrayscaleResearch stated that in Q1 2025, Grayscale will focus on tokens that involve at least one of the following three core market themes: the US election and its potential impact on industry regulation, especially in areas such as decentralized finance (DeFi) and staking; continued breakthroughs in decentralized AI technology and the use of blockchain by AI agents; and the growth of the Solana ecosystem.
🔥Hyper Foundation said on X Platform: Staking is now live on the mainnet. Staking is an important milestone for Hyperliquid as it allows a diverse community of HYPE stakers to work together to secure the network.
🔥On December 30, according to Coinglass data, as Bitcoin fell to $93,009 this morning, the current mainstream CEX and DEX funding rates showed that the market was generally bearish.
🔥According to TokenUnlocks data, this week, SUI, OP, ZETA, and others will have a one-time large-scale token unlocking, with a total release value of over $300 million.
🔥10xResearch said in a post: “The biggest surprise will be that this bull market suddenly peaks, and at this time everyone is confident that Bitcoin will rebound 50% to 150% in 2025.”
🔥On December 30, according to Cointelegraph, BlackRock Ethereum spot ETF ETHA now holds more than $3.5 billion worth of Ethereum.
🔥CryptoRank data shows that among the top 15 blockchains in terms of decentralized exchange trading volume in 2024, Ethereum ($674 billion, a year-on-year increase of 46.3%) and Solana ($626 billion, a year-on-year increase of 1049%) ranked first and second, followed by BNB Chain ($352 billion, a year-on-year increase of 178%), Arbitrum ($252 billion, a year-on-year increase of 101%) and Base ($222 billion, a year-on-year increase of 5.8%). Blast ranked sixth with $133 billion, followed by Polygon ($49.8 billion, down 3.9% year-on-year) and Avalanche ($46.8 billion, up 105% year-on-year). Sui ($41.2 billion, up 1859% year-on-year) and Optimism ($33.8 billion, up 69.6% year-on-year) also performed strongly.
🔥As the end of the year approaches, BTC’s momentum has weakened significantly, with upside limited by selling pressure, with spot ETFs seeing net outflows of $1.8 billion since December 19, and MicroStrategy’s BTC purchases slowing significantly.
🔥Pantera Capital partner Lauren Stephanian said that with the promotion of pro-crypto policies in the United States, crypto venture capital is expected to increase in 2025, and investors will be more positive about capital deployment.
🔥According to CoinDesk, MicroStrategy’s stock price has fallen sharply since it announced its inclusion in the Nasdaq 100 Index. It is currently down about 30% from its December 14 high, falling from a peak of $543 to $300, a five-week drop of about 45%.
🔥Galaxy Ventures reported that the Ethereum staking rate will exceed 50% in 2025. The Trump administration may provide clearer regulation and guidance for the crypto industry.
🔥According to BlackRock’s official updated Ethereum exchange-traded fund data, as of December 30, iShares Ethereum Trust ETF held 1,071,415.22 ETH, with amarket value of $3,645,158,147.28.
🔥On January 1, according to DefiLLama data, the funds entering the Hyperliquid cross-chain bridge reached $2.037 billion, $304 million lower than the peak of $2.341 billion on December 24 last year.
🔥On January 1, according to TraderT monitoring, the net inflow of Ethereum ETF in December 2024 reached $2.1 billion, setting the best single-month record so far, and the trading volume reached $14 billion.
🔥On January 1, the social network graph protocol Lens Protocol published a post on the X platform stating that its social elastic network Lens Network mainnet will be launched soon.
🔥On January 1, according to DefiLlama data, Tether protocol revenue reached $5.257 billion in the past year, ranking first.
🔥On January 1, Usual officially announced that yesterday (07:00 AM UTC on December 31), the Usual protocol experienced a massive sell-off of USD0 caused by a single whale transaction in the secondary market, which aroused users’ doubts about the peg of USD0 to the US dollar.
🔥According to the on-chain data tracking service WhaleAlert, at around 1
23 Beijing time, USDC Treasury minted 274,376,348 new USDC on the Ethereum chain.
🔥According to CryptoSlam data, NFT sales on the Ethereum chain exceeded $480 million in December, reaching $488,508,973.42, a record high since March this year.
🔥Cointelegraph published an article on the X platform stating that 45% of economically active South Koreans have invested in cryptocurrencies.
🔥On January 2, according to ChainCatcher, Ninal Rong, head of partnerships at the Arbitrum Foundation, said that the Arbitrum Foundation will provide financial support for the continued operation of Ethereum News Weekly and will contact Evan Van Ness, the founder of Ethereum News Weekly, via private message.
🔥Polymarket users predict a 76% chance of the Solana ETF being approved in 2025, up 26% over the past week.
🔥On January 2, Cointelegraph reported that according to Bitbo data, long-term Bitcoin holders (holding for more than 155 days) are currently making significant profits.
Regulatory & Macro Policies
🔥On January 2, the U.S. Internal Revenue Service (IRS) has postponed the implementation of crypto tax reporting rules until December 31, 2025, to give brokers more time to adapt to different accounting methods as they face legal and regulatory challenges.
🔥As 2024 draws to a close, the Bitcoin rally sparked by U.S. President-elect Trump’s victory in early November is stalling.
Crypto Market Highlights
⭐️In the past week, the overall trend of the crypto market has changed little, the consolidation state has further intensified, and the short-term trend is mainly small ups and downs. The main reason for this situation this week is still due to the lack of a clear overall upward trend in the near future, and the market lacks clear positive signals in the short term. It is approaching the weekend closing time, but the overall market is unlikely to change on a large scale, and the current scale change trend will be maintained.
⭐️This week, the crypto market continued to rise and fall in a small range, limiting the rise of the top mainstream growth coins. The innovative AI Metaverse Protocol token VIRTUAL rose by about 52% in a week, mainly affected by the recent market actions of the protocol, and showed a large continuous rise in a week. The high point of the coin’s price in the week was around $5.057, and the low point was around $2.9 during the opening period.
BTC & ETH Weekly Performance
Bitcoin (BTC)
(Data Courtesy Of TradingView)
This week, the price of BTC began to rise significantly near the weekend. Before this, it fluctuated within a small range. Currently, the coin’s price has remained in the range of $92,000 - 97,000. At present, BTC’s market share remains stable and dominant. Of course, it remains in the same range as the recent price, between $90,000 and $100,000, which means that the subsequent coin trend is relatively weak. At present, the price of the coin is approaching $98,000 again, but the probability of breaking through the key price of $10,000 in the short term is small.
Analysts believe that although the price of BTC has changed significantly this week, the weekly price increase has remained at around 1.5%. The current price high is around $97,500, and the low is around $91,800. The lack of clear upward support for BTC prices is mainly due to the recent sideways market. It is expected that the coin’s price will continue to fluctuate below $100,000 during the weekend.
Ethereum (ETH)
(Data Courtesy Of TradingView)
ETH’s price trend this week is similar to BTC’s, but the price trend is relatively gentle. However, ETH’s price has rebounded after reaching a low point this week, and the price trend this week is mainly short-term fluctuations. The price of the coin hit a low point of around $3,300 in the week, and is currently around $3,450, with an obvious overall recovery trend. ETH has increased by around 3.6% in the week. Currently, the coin is in a period of sustained small fluctuations and has entered a new price range. A new round of price changes is expected during the weekend.
Web3 Project Trend
This week, due to the recent market trend, the total market value of the seven types of projects has maintained slight ups and downs in most coins, and the overall market trend is relatively flat. It is expected that this trend will continue for one to two weeks, and the market will usher in a new round of change.
