How much key market intelligence did you miss on December 16?
Featured News
1.QCP: Bitcoin/gold ratio hits a record high, further strengthening its position as "digital gold"
2.Vana ecosystem NFT V plummeted to 0.45 ETH, down more than 60% in 24 hours
3.Binance Futures will launch MOCAUSDT perpetual contract
MOCA:
Up +41bps. MOCA is in the spotlight today due to its upcoming listing on Upbit, South Korea’s leading digital asset exchange. The listing is expected to extend MOCA’s reach to over 28 million KYC-completed users in South Korea, a key market for the Moca Network. The news led to a significant increase in MOCA’s price, reportedly 3-4x. The listing is part of Moca’s broader strategy to build a cross-chain digital identity infrastructure. Additionally, MOCA’s involvement in the NFT space and partnerships with major players such as Animoca Brands have further fueled interest.
AVAX:
Up +36bps. The main discussion around AVAX today has focused on the upcoming Avalanche9000 upgrade, which is being hailed as the largest network upgrade in Avalanche's history. The upgrade is expected to reduce chain deployment costs by 99.9% and transaction fees by 25 times, sparking excitement and anticipation within the community. In addition, Avalanche has raised $250 million to expand its blockchain ecosystem, further strengthening confidence in its future growth. The upgrade is expected to significantly enhance scalability and development tooling, with more than 500 first-level chains currently being developed on Avalanche.
Threads&Tweets
1. Hyperliquid’s bull case@fmoulin7

2. What comes after Agent@Defi0xJeff

Featured Articles
1.《EVM is not online yet, how to evaluate the future of Hyperliquid? 》
fmoulin7, Crypto Kol
Hyperliquid attracts users through low fees and strong incentives, with an estimated first-year incentive of nearly $1 billion and an inflation rate of 11.65%. After the launch of EVM, it may become an important platform for new DeFi protocols to drive the growth of HYPE demand. The platform makes profits through transaction fees and token auctions, and fee allocation is automatically executed to support staking rewards, platform operations and token destruction. Increased capital inflows, especially through Kucoin, will drive HYPE prices if more market funds can be attracted. However, centralization and EVM transition risks may affect user experience, and investors need to be cautious and do research.
2.《From the timestamp of on-chain data, when will this bull market cycle peak? 》
Murphy, on-chain data analyst
There are two core concepts in the on-chain data analysis of BTC, namely "timestamp" and "price stamp". The transparency of the blockchain allows us to observe each on-chain transaction and identify two key details: 1. The time when the chip movement occurs: timestamp; 2. The price when the transaction occurs: price stamp; When we analyze the transition of phased trends, the data used, such as turnover cost, profit realization, demand inflow, and hot supply, are mainly based on "price stamp". If we want to observe and analyze the timeliness of the BTC cycle, we need to use "timestamp" more. Each BTC exists in a UTXO, and the timestamp function of UTXO means that each BTC has an age, which does not refer to the time when it was mined, but the time from the last move to the present.
Biggest Gainers & Losers
Token volatility on December 16, sorted by trading volume
Top Gainers
1.$MOCA

2.$MEMESAI

3.$COW

Top Loser
1.$CTXC

2.$COS

3.$BLUE

On-chain data
On-chain fund flow on December 16

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Mixin has launched USTD-margined perpetual contracts, bringing derivative trading into the chat scene.
The privacy-focused crypto wallet Mixin announced today the launch of its U-based perpetual contract (a derivative priced in USDT). Unlike traditional exchanges, Mixin has taken a new approach by "liberating" derivative trading from isolated matching engines and embedding it into the instant messaging environment.
Users can directly open positions within the app with leverage of up to 200x, while sharing positions, discussing strategies, and copy trading within private communities. Trading, social interaction, and asset management are integrated into the same interface.
Based on its non-custodial architecture, Mixin has eliminated friction from the traditional onboarding process, allowing users to participate in perpetual contract trading without identity verification.
The trading process has been streamlined into five steps:
· Choose the trading asset
· Select long or short
· Input position size and leverage
· Confirm order details
· Confirm and open the position
The interface provides real-time visualization of price, position, and profit and loss (PnL), allowing users to complete trades without switching between multiple modules.
Mixin has directly integrated social features into the derivative trading environment. Users can create private trading communities and interact around real-time positions:
· End-to-end encrypted private groups supporting up to 1024 members
· End-to-end encrypted voice communication
· One-click position sharing
· One-click trade copying
On the execution side, Mixin aggregates liquidity from multiple sources and accesses decentralized protocol and external market liquidity through a unified trading interface.
By combining social interaction with trade execution, Mixin enables users to collaborate, share, and execute trading strategies instantly within the same environment.
Mixin has also introduced a referral incentive system based on trading behavior:
· Users can join with an invite code
· Up to 60% of trading fees as referral rewards
· Incentive mechanism designed for long-term, sustainable earnings
This model aims to drive user-driven network expansion and organic growth.
Mixin's derivative transactions are built on top of its existing self-custody wallet infrastructure, with core features including:
· Separation of transaction account and asset storage
· User full control over assets
· Platform does not custody user funds
· Built-in privacy mechanisms to reduce data exposure
The system aims to strike a balance between transaction efficiency, asset security, and privacy protection.
Against the background of perpetual contracts becoming a mainstream trading tool, Mixin is exploring a different development direction by lowering barriers, enhancing social and privacy attributes.
The platform does not only view transactions as execution actions but positions them as a networked activity: transactions have social attributes, strategies can be shared, and relationships between individuals also become part of the financial system.
Mixin's design is based on a user-initiated, user-controlled model. The platform neither custodies assets nor executes transactions on behalf of users.
This model aligns with a statement issued by the U.S. Securities and Exchange Commission (SEC) on April 13, 2026, titled "Staff Statement on Whether Partial User Interface Used in Preparing Cryptocurrency Securities Transactions May Require Broker-Dealer Registration."
The statement indicates that, under the premise where transactions are entirely initiated and controlled by users, non-custodial service providers that offer neutral interfaces may not need to register as broker-dealers or exchanges.
Mixin is a decentralized, self-custodial privacy wallet designed to provide secure and efficient digital asset management services.
Its core capabilities include:
· Aggregation: integrating multi-chain assets and routing between different transaction paths to simplify user operations
· High liquidity access: connecting to various liquidity sources, including decentralized protocols and external markets
· Decentralization: achieving full user control over assets without relying on custodial intermediaries
· Privacy protection: safeguarding assets and data through MPC, CryptoNote, and end-to-end encrypted communication
Mixin has been in operation for over 8 years, supporting over 40 blockchains and more than 10,000 assets, with a global user base exceeding 10 million and an on-chain self-custodied asset scale of over $1 billion.

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