24-Hour Hot Cryptocurrencies and News | Federal Reserve Reverses 2023 Policy Restricting Banks’ Cryptocurrency Activitie
1. Popular cryptocurrencies on CEXs
Top 10 CEX trading volumes and their 24-hour price changes:
- BTC: -1.97%
- ETH: -4.39%
- SOL: -4.65%
- BNB: -3.7%
- ASTER: -9.87%
- BIFI: -1.77%
- CITY: -1.71%
- IDEX: -8.65%
- ZEC: -7%
- BAR: -3.36%
24-hour gainers list (data source: OKX):
- HMSTR: +11.33%
- AERGO: +9.78%
- ZENT: +7.11%
- ACT: +6.73%
- ASP: +6.45%
- OMI: +2%
- BARD: +0.63%
- GHST: +0.58%
- NIGHT: +0.56%
- PRCL: +0.25%
24-hour cryptocurrency stock gainers list (data source: msx.com ):
- MU: +4.83%
- OXY: +4.42%
- SQQQ: +3.36%
- FIG: +3.7%
- SNDK: +3.24%
- GME: +3.1%
- XOM: +2.42%
- GILD: +2.26%
- ADBE: +2.05%
- CVX: +1.93%
2. Top 5 most popular on-chain memes (data source: GMGN ):
- pippin
- https
- CALVIN
- TRUMP
- jellyjelly
Headlines
The Federal Reserve on Wednesday withdrew a 2023 policy statement that previously restricted state member banks under the supervision of the Federal Reserve from engaging in “innovative” activities beyond the scope of national bank licenses, including various cryptocurrency services. In its statement, the Federal Reserve said that as its understanding of innovative products and services has evolved, it is now replacing that restrictive policy with a more flexible one.
According to the updated policy statement in 2025, uninsured state member banks can now apply to the Federal Reserve Board of Governors on a case-by-case basis to engage in activities that insured banks are not permitted to do. Previously, the 2023 指导lines were a key reason why the Federal Reserve rejected Custodia Bank’s application to obtain a Fed Master Account. Federal Reserve Governor Michael S. Barr disagreed, arguing that a level playing field should be maintained for banks with different licenses.
Federal Reserve Governor Waller: Rate cuts are justified by an easing inflation outlook
Federal Reserve Governor Waller stated that the Fed could cut interest rates simply because the inflation outlook has eased, but given the current outlook, there is no urgency to cut rates, and the Fed’s new asset purchases are not a stimulus measure.
A survey conducted jointly by the Federal Reserve Banks of Richmond and Atlanta and Duke University’s Fuqua School of Business shows that corporate finance executives still consider tariffs a top concern and expect prices to rise by about 4% next year on average. This result could exacerbate the Federal Reserve’s concerns about current price pressures that may prevent it from achieving its 2% inflation target anytime soon. The survey interviewed 548 chief financial officers between November 11 and December 1. The results showed a decline in respondents’ confidence in both their own companies and the overall U.S. economy. The U.S. overall economic optimism index fell to 60.2 from 62.9 (out of 100) in the third quarter, also below the recent high of 66 reached after President Trump won his current term in late 2024. Overall, respondents expect modest growth in jobs and the economy in 2026, with the median business expectation of 1.7% job growth (similar to recent surveys) and an annualized economic growth rate of approximately 1.9%. Less than half (40%) of businesses said they were hiring new positions, slightly less than 20% said they were not hiring at all, and about 9% expected to lay off employees.
Analysts point out that year-end anxiety in the US bond market has eased, with the market anticipating that the Federal Reserve’s new financing plan will alleviate seasonal funding pressures. Banks typically reduce lending and hoard cash at the end of quarters and years to adjust their balance sheets, leading to higher short-term money market rates at the end of the year. For example, in September 2019, repurchase rates surged due to a sharp drop in bank reserves caused by concentrated corporate tax payments and debt repayments. However, after the Federal Reserve announced last week that it would purchase short-term Treasury bills to manage cash levels and ensure control over the target interest rate range, repurchase market pricing for the year-end period (December 31 to January 2) has fallen sharply. Bob Savage, head of macro market strategy at BNY Mellon, said, “The Fed aims to avoid sharp interest rate fluctuations on tax days or at the end of the year, and now has the appropriate tools. We do not expect a repeat of the sharp market volatility of 2019.” Analysts point out that the Fed’s actions will alleviate year-end funding pressures. At the same time, the Fed’s bond purchases may reduce private investor demand for Treasury bills in 2026, thereby supporting bond prices, lowering yields, and easing the debt supply pressure that previously pushed up repurchase rates.
Former Bank of Japan Deputy Governor and government policy committee member Masazumi Wakatabe stated, “Japan must raise the neutral interest rate through fiscal policy and growth strategy. If Japan’s neutral interest rate rises due to fiscal policy, a rate hike by the Bank of Japan would be a natural consequence. However, the Bank of Japan should avoid raising rates prematurely and excessively tightening monetary policy at present.” Analyst Justin Low expressed reservations about this comment, as he is a member of the government committee appointed by Prime Minister Sanae Takaichi. Therefore, his remarks and inclinations suggest he is on the side of the government and attempting to oppose the Bank of Japan’s intention to raise interest rates later this week.
Industry News
Bloomberg: Long-term Bitcoin holders have sold approximately $14 billion worth of their holdings.
According to K33 Research and CryptoQuant, BTC has fallen nearly 30% in two months since breaking its all-time high of $126,000. On-chain data shows that the supply of BTC held for at least two years has decreased by 1.6 million coins since the beginning of 2023, worth approximately $14 billion, indicating that early holders are cashing out at the fastest pace in recent years.
Since 2025, nearly $30 billion worth of BTC, dormant for over a year, has re-entered circulation. In the past 30 days, the distribution to long-term holders has reached one of the highest levels in five years. K33 Research points out that approximately 20% of the BTC supply has been reactivated over the past two years. With increased institutional consolidation, selling pressure from early holders is expected to subside in 2026.
With US President Trump’s public embrace of cryptocurrencies, his policies and personal statements are profoundly changing the structure of the US capital market. A large number of new listed companies with crypto assets at their core are rapidly emerging, while simultaneously amplifying market risks. Unlike previous crypto bull markets, which were primarily confined to exchanges and retail investors, under Trump’s policies, crypto risks are spreading to a wider range of investors through the stock market. Tighter regulations, strengthened political endorsements, and the structural “cryptoification” of listed companies are prompting investors to bear higher volatility and valuation risks. This year, more than 250 listed companies have begun to include cryptocurrencies on their balance sheets, attracting investor attention by accumulating large amounts of digital assets such as Bitcoin. Some companies even lack a mature core business; their core “business model” is simply holding crypto assets and betting on their price increases.
Project News
The Polygon Foundation and X platform issued a statement saying, “This afternoon, the Polygon PoS network experienced a failure, affecting some RPC nodes. However, the network remained online throughout the entire failure period, block generation was uninterrupted, and there was no blockchain outage.”
The technical team quickly located the problem and pushed out patches to the node operators to restore full service functionality to the nodes. Currently, the validator nodes are synchronizing data and have gradually met the quorum requirements.
During the outage, a large number of RPC nodes remained fully operational, and transactions could flow in and be processed normally.
There may still be a delay in the data display on the block explorer until the nodes have completed synchronization.
Coinbase announced on its X platform the upcoming launch of Coinbase Tokenize, a one-stop asset tokenization platform for institutional users. This platform aims to help institutions efficiently and securely tokenize and issue various assets on-chain.
According to the official introduction, Coinbase Tokenize has the following core features: fully backed, ensuring a one-to-one correspondence between assets and tokens; highly transparent and secure, relying on Coinbase’s mature compliance and security system; and compliant with regulatory requirements, designed for institutional scenarios and meeting compliance needs.
Decentralized derivatives protocol dYdX announced that BONK, a leading Meme coin in the Solana ecosystem, has become an official integration partner of dYdX. On December 17th, BONK launched its branded web and Telegram frontend, enabling BONK and the wider Solana community to seamlessly access perpetual contract trading powered by dYdX through this portal.
Jito announced that the core operations of its foundation will be transferred to the United States.
Solana MEV infrastructure developer Jito Labs announced that it will move the core operations of the Jito Foundation to the United States. Jito will reportedly establish the Jito Foundation headquarters in the United States in January next year to support the growth of the network.
Investment and Financing
AirSwap founder Michael Oved announced on the X platform that the DeFi liquidity layer Harbor completed a $4.2 million seed round of financing this spring and summer, led by Susquehanna Crypto and Triton Capital, with participation from Selini, Auros, Hermeneutic, Kronos Research, and others.
ETHGas completes $12 million seed funding round, led by Polychain Capital.
Ethereum blockchain futures market ETHGas announced the completion of a $12 million seed funding round, led by Polychain Capital, with participation from Stake Capital, BlueYard Capital, Lafayette Macro Advisors, SIG DT, and Amber Group. The project previously completed an undisclosed pre-seed funding round of approximately $5 million in mid-2024. This funding round was conducted entirely through a token offering using the Simple Future Token (SAFT) protocol, but the post-funding valuation was not disclosed.
Regulatory Trends
The SEC issued a statement regarding broker-dealers holding crypto-asset securities.
美国证券和 Exchange Commission’s (SEC) Division of Trading and Markets issued a statement regarding broker-dealers holding crypto-asset securities, clarifying the applicability of Rule 15c3-3(b)(1) of the Securities Exchange Act to crypto-asset securities. The statement indicates that the SEC will not object to a broker-dealer’s determination that it has physical possession or control over crypto-asset securities in a client’s account if the broker-dealer takes the following actions:
Access and transfer capabilities: The ability to directly access crypto asset securities and transfer assets on the relevant distributed ledger;
Technology Risk Assessment: Implement written policies to assess the characteristics and risks of distributed ledger technology and related networks;
Risk avoidance: If you become aware of significant security or operational problems with the relevant technology, you must not claim possession of the asset.
Private key protection: Establish internal controls to prevent private keys from being stolen, lost, or used without authorization, and ensure that no one other than authorized personnel can access them;
Contingency Plan: Ensure that assets can be safely preserved and transferred in the event of blockchain failures, 51% attacks, hard forks, or brokerage bankruptcies.
Japan may plan to implement a separate tax system for crypto assets starting in 2028.
Sources within the Japanese political sphere have revealed a proposal to transition Japan to a separate, self-assessed tax system for crypto assets (virtual currencies), with plans to implement it starting in January 2028. While the market anticipates the passage of the revised Financial Instruments and Exchange Act next year, potentially leading to the implementation of the new tax system by 2027, the Japanese government prefers to finalize the tax reform after assessing the market conditions under the Financial Instruments and Exchange Act.
Currently, profits from cryptocurrency trading in Japan are classified as “miscellaneous income,” calculated together with wages and other income, and subject to a maximum tax rate of 55%. Investors and industry groups have long called for a change to a separate tax system of 20%, similar to that for stocks. The government stated that the delay was primarily due to the need to “improve investor protection measures.”
Character voices
In a report released yesterday, research and brokerage firm K33 stated that selling pressure from long-term Bitcoin holders is nearing saturation after years of distribution, and on-chain selling pressure is expected to gradually ease.
Vetle Lunde, Head of Research at K33, points out that since 2024, the supply of Bitcoin held for more than two years has been declining, with approximately 1.6 million BTC being reactivated and entering the market, worth about $138 billion at current prices. This reflects ongoing on-chain sales by early holders. Lunde believes this scale clearly exceeds what can be explained by technological migration or structural adjustments, indicating substantial allocation activity.
The report states that 2024 and 2025 will be the second and third highest years in Bitcoin’s history in terms of long-term supply recirculation, second only to 2017. Unlike the distribution cycle driven by ICOs, altcoin trading, and incentive mechanisms in those years, this round of selling is more about long-term holders realizing profits from deep liquidity needs arising from direct investment in US Bitcoin spot ETFs and corporate financial requirements.
Looking ahead, K33 anticipates selling pressure will gradually ease. Lunde stated that approximately 20% of the Bitcoin supply has been reactivated over the past two years, and on-chain selling pressure is expected to approach saturation. The Bitcoin supply held for more than two years may end its current downward trend in 2026, exceeding the current level of approximately 12.16 million BTC. Furthermore, K33 also points to a potential asset allocation rebalancing effect at the end of the quarter and the beginning of the next. Given Bitcoin’s significant underperformance compared to other assets in the fourth quarter, the reallocation of funds with fixed allocation ratios at the end of the year and the beginning of next year may bring a temporary inflow of funds into the market.
Analysts say the psychological threshold for Bitcoin’s price in the near term is $81,500.
CryptoQuant analyst MorenoDV stated that Bitcoin’s price must hold above $81,500, as this is a psychological dividing line. Investors typically feel reassured when Bitcoin’s price is above this support level. Another trader and analyst, Daan Crypto Trades, indicated that BTC/USD will continue to fluctuate wildly until the major support level in the $84,000 to $85,000 area is breached, or the resistance level of $94,000 is broken.
Bitcoin’s 30-day implied volatility remains low, indicating a relatively calm market ahead of Thursday’s US inflation data and Friday’s Bank of Japan interest rate decision. However, derivatives positioning shows that BTC/USD long positions on Bitfinex have reached their highest level since February. Furthermore, trading in Bitcoin put options at $85,000 strike price and Bitcoin call options at $95,000 and $100,000 strike prices on Deribit suggests that Bitcoin may experience significant volatility in the near term. Analysts believe that for Bitcoin to break its bearish trend, it needs to return above $95,000, ideally above $98,000.
Matrixport released a chart today stating that when Bitcoin’s market capitalization share declined, our tactical model once suggested that altcoins might have a potential for a phase of rebound; however, as the total market capitalization of the crypto market weakened again and showed signs of decline, the rebound failed to continue.
Over the past one to two years, altcoins have generally underperformed; according to the indicators we track, market preference has remained more inclined towards Bitcoin in most periods. It’s worth noting that it’s uncommon for altcoins to consistently underperform Bitcoin during periods of strength. Given the current weakness in Bitcoin’s short-term momentum and limited recovery in risk appetite, the altcoin environment is likely to remain cautious, with price movements more likely to be characterized by structural divergence.
In the current environment, trading tends to focus on top-tier assets with high liquidity and better trading depth, and the importance of risk control and position management has increased accordingly. Overall, the market is gradually transitioning from a relatively passive “long-term holding + dollar-cost averaging” phase to a trading environment that emphasizes market timing, active position sizing, and drawdown control.
This article is sourced from the internet: 24-Hour Hot Cryptocurrencies and News | Federal Reserve Reverses 2023 Policy Restricting Banks’ Cryptocurrency Activities; Fed Governor Waller: Rate Cuts Possible Based on Easing Inflation Outlook (December 18)
By integrating Chainlink’s industry-leading oracle network, X Layer developers now have direct access to high-quality, tamper-proof market data. This data infrastructure is trusted by approximately 70% of Web3 projects to support secure DeFi, trading, and automation. Significance for X Layer By joining the Chainlink SCALE program, X Layer will cover the costs associated with oracles and cross-chain services, enabling developers to access Chainlink’s advanced data sources and cross-chain tools at minimal or even zero cost. This significantly reduces operational expenses, improves development efficiency, and allows teams to focus on building high-impact applications without being distracted by infrastructure management. Chainlink CCIP functionality on the X Layer includes: Deep security protection : Utilizing the same infrastructure to safeguard over $100 billion in DeFi TVL. Tamper-proof data access : Ensures accurate pricing, manageable…
相关文章
简体中文 
English 
繁體中文 
日本語 
Tiếng Việt 
العربية 
한국어 
Bahasa Indonesia 
हिन्दी 
اردو 
Русский