Market Update December 11: Which developments are worth noting?

Top 5 Market Events Today

1. Meme coin maintains upward momentum amid market correction

Despite the overall market trending downward, some meme tokens unexpectedly defy the trend and continue to rise. Notably, JELLYJELLY surged 37%, indicating strong continued appeal in this segment.

2. Gemini stock soars after prediction market approval

Gemini’s stock jumped over 18% in early trading after receiving approval to enter the prediction market sector. This move opens new business opportunities for the exchange.

3. Phoenix DEX on Solana launches testing phase

Perp DEX Phoenix built on the Solana blockchain begins its internal testing phase today, while also opening a waitlist registration for the community.

4. Over 236 user points eligible for 2,000 USDT airdrop

Several major trading platforms announced that at least 236 user points qualify for the 2,000 USDT airdrop program, creating opportunities for the community.

5. Coinbase Bitcoin Premium Index remains positive for 9 consecutive days

Market sentiment remains positive as the Coinbase Bitcoin Premium Index continues to stay in positive territory for 9 days straight, currently at 0.0222%, reflecting investor optimism.

Hot Projects Under Discussion

STANDX - Attractive trading point promotion

STANDX attracts attention with the launch of a unique trading point promotion program. Users can earn points through trading activities and holding $DUSD (interest-bearing stablecoins). The project also offers additional incentives for mobile wallet users, with a 10% bonus until January 7.

The founding team has backgrounds from leading financial firms, emphasizing a self-custody model and automatic rewards via the Perp DEX platform. This innovative approach has garnered widespread community interest.

FERRA - Dynamic liquidity platform on Sui

FERRA focuses on the dynamic liquidity layer on the Sui blockchain through the social trading platform DLMM DEX. It is designed specifically for liquidity providers, yield farmers, dapp developers, and speculators.

The protocol’s ranking is now active, with plans to allocate 0.25% of the total token supply to top creators. Discussions revolve around FERRA’s DLMM and CLMM models, offering both dynamic and concentrated liquidity provisioning. The project has secured significant seed funding and actively engages with the community.

SEI - Connecting with the mobile world through strategic partnership

SEI announced a partnership with Xiaomi, the third-largest smartphone manufacturer globally. Under this agreement, SEI’s crypto wallet and discovery app will be pre-installed on new Xiaomi devices (excluding certain regions) starting from 2026.

This integration aims to bring stablecoin payments and on-chain trading to over 170 million new devices annually, marking a significant step toward mainstream cryptocurrency adoption. The partnership is expected to greatly expand SEI’s presence and influence in the global crypto space.

KINDRED - AI Companion to launch Token soon

KINDRED is gaining high attention ahead of its TGE (Token Generation Event). The AI companions developed by the project are designed with emotional intelligence and advanced personalization features.

The community expects these AI to create meaningful connections with users through licensed IPs and original characters. With the TGE approaching, many speculators are planning and discussing their strategies. Notably, KINDRED emphasizes emotional resonance, setting it apart from typical AI models.

MET (Meteora) - Strategic updates to enhance token value

Meteora announced two major strategic initiatives. First, a token buyback program worth $10.6 million using MET, representing 2.3% of the circulating supply, to boost token value.

Second, the project introduces Comet Points—a new staking reward system for MET holders. Additionally, Meteora has updated product tools such as automatic treasury management, limit orders, and an advanced pool discovery page. These measures aim to increase revenue, optimize costs, and improve value for token holders.

Broader Market Analysis

Macroeconomic trends influencing investor sentiment

Upcoming global monetary policy decisions will significantly impact the trajectory of risk assets in the coming months. Investors are paying close attention not only to interest rate changes but also to liquidity injections into markets. Signals from monetary policy will shape the direction of Bitcoin and other crypto assets.

Decline in CEX trading volume in recent months

Data from November shows spot trading volume on major platforms decreased by 27% compared to October. Some exchanges experienced particularly sharp declines, reflecting a more cautious market sentiment.

Trading volume in derivatives also saw a similar drop of about 26% month-over-month. This decline affects most major platforms, suggesting investors are repositioning after recent market volatility.

Conclusion: December 11th saw many positive developments from new projects and blockchain infrastructure. Although trading volume has decreased, interest in new technologies and strategic partnerships continues to indicate ongoing growth in the crypto industry.