Crypto Market Trends and Hotspot Analysis

1. Market Highlights

1. Market Trends

Macroeconomic Environment

The latest U.S. CPI data for December shows that inflationary pressures have eased, rising by 2.9% year-on-year, with core CPI increasing by 3.2% year-on-year. Although the overall CPI increased by 0.4% month-on-month, the core CPI only grew by 0.2% month-on-month. This data reflects a slowdown in price increases across multiple sectors, effectively suppressing inflationary pressures.

As a result, market expectations for a rate cut by the Federal Reserve have reignited, although it is generally believed that a rate cut may have to wait until after June. The U.S. stock and bond markets subsequently rebounded, with the S&P 500 index rising nearly 2% and the Dow Jones Industrial Average soaring over 700 points. The crypto market also showed strong performance, with Bitcoin returning to the $100,000 threshold, demonstrating a sensitive response to macroeconomic trends.

encryption field

Starting in 2025, the United States will implement new third-party reporting requirements for crypto transactions. All transaction information conducted on centralized trading platforms will be submitted directly to the IRS. The new regulations require various crypto service providers to track user transactions throughout the year and submit reports to users and tax authorities in early 2026.

The specific implementation timeline shows that the cost benchmark information report for crypto assets will start in 2026, while the peer-to-peer trading report for decentralized platforms will be postponed to 2027, only requiring the report of the total trading volume. In addition, newly listed Bitcoin spot ETF trading will also be declared through specific forms, including share trading and taxable events generated within the fund.

2. Hot Events

Global pension funds allocate Bitcoin

Pension funds in multiple countries have begun to allocate to Bitcoin and other encryption assets. Pension funds in Wisconsin and Michigan, USA, have become major holders of certain crypto market-related funds. Some pension fund management institutions in the UK and Australia have also made small allocations to Bitcoin through funds or derivatives.

Although cryptocurrency investment remains a minority in the pension industry and most advisors are cautious about it, an increasing number of pension funds are beginning to pay attention to this emerging asset class, reflecting a gradual shift in institutional investors' attitudes towards crypto assets.

South Korean regulators report first case of unfair trading in the crypto market

The Financial Services Commission of South Korea has announced the first case of unfair trading following the implementation of the "Virtual Asset User Protection Act". This case involves the "pump and dump" manipulation technique, where suspects raised the price of a certain cryptocurrency through concentrated buying in a short period, then quickly sold off to profit. This case marks an important progress for South Korea in combating improper behavior in the crypto market.

3. Hot Topics Narrative

XRP price breaks through $3, market cap surpasses large asset management companies.

The price of XRP has surpassed $3 for the first time in 24 hours, reaching a new high since 2018, with a 40% increase over the past 15 days. Currently, the market capitalization of XRP has exceeded $170 billion, surpassing some large asset management companies.

This surge is primarily driven by expectations of crypto-friendly policies and regulatory reforms for digital assets in the United States. New partnerships, the launch of the stablecoin RLUSD, and speculation about a potential spot XRP ETF have also contributed to the price increase. Large holders continue to accumulate, providing support for this rebound. Additionally, the search volume for XRP has even surpassed that of Bitcoin during certain periods, reflecting the market's high interest in XRP.

2. Hot Projects

Sora Labs

Sora Labs is an artificial intelligence organization focused on the Solana ecosystem, primarily developing the following projects:

• Zen: An open-source AI dialogue framework built with Go language, simplifying the development of proxy chat systems.
• Hana: Social Media AI Agent Based on Zen Framework
• Toolkit: A tool developed in Go and Rust to assist AI model collaboration.
• Solana Toolkit: An extension toolkit providing specific functionalities for Solana

All projects have been open-sourced.

In terms of token economics, the development team holds 100 million tokens, most of which are locked until March 12, with a linear unlock every two weeks. The top 100 holders account for 61.95%, with the largest holder accounting for 9.92% of the locked portion.

3. Sector Rotation

Recent data on market hotspots and their internal performance indicates that AI-related projects and infrastructure projects have garnered considerable attention. Specific data and trends need to be analyzed in conjunction with real-time market conditions.