I. Attention Value - Market Highlights
1. Market Situation
(1)Macroeconomic Environment:
l Forbes: Trump's Meme Coin Issuance Sparks Constitutional Crisis and Political-Economic Controversy
Forbes' column article commented on the event of Trump issuing a meme coin, pointing out that this could trigger a constitutional crisis. Although the incoming new SEC chairman may introduce more crypto-friendly policies, the basic legal principles remain unchanged, and the personality and policy preferences of SEC leaders cannot override the existing securities laws. The report also pointed out that the launch of the TRUMP coin reveals fundamental tensions in contemporary American politics. Trump positions himself as a supporter of the cryptocurrency industry and promises to make the US the "global capital of cryptocurrencies", but the structure and timing of his digital token project have raised concerns about the fusion of his personal interests and political power. The concentration of token ownership in companies associated with Trump and the timing of the issuance on the eve of his inauguration have led to questions about whether he truly supports cryptocurrency innovation or is further commercializing the presidency.
(2)Web3 Sector:
l Crypto Market Sees Broad Pullback, Bitcoin Dips Below $100,000
The cryptocurrency market has seen a broad pullback, with the AI Agents sector declining 12.08% in the past 24 hours. Major AI tokens such as AI16Z, ARC, AVA, and ACT have fallen 29.83%, 23.69%, 32.92%, and 29.18% respectively. FARTCOIN bucked the trend and rose 16.74%. Additionally, the DeFAI sector fell 14.90%, with GRIFFAIN dropping 12.05%. The CeFi sector declined 3.28%, PayFi fell 6.75%, DeFi dropped 6.94%, Layer 1 declined 6.99%, and the Meme sector fell 7.53%. Bitcoin also briefly dipped below the $100,000 mark, with the latest price at $102,499.
2. Hot Events
(1) Macroeconomic Environment:
l Criminal Gang Led by Former Professional Footballer Accused of Laundering 1.1 Trillion KRW in South Korea
The Busan Police in South Korea announced that a criminal gang led by a former professional footballer has been accused of money laundering through a fake cryptocurrency trading platform for 112 gambling websites, with the amount involved reaching 1.1 trillion KRW (approximately $7.568 billion). The gang, between January 2022 and September 2023, hired active corporate security program developers to create a fake trading platform, using over 200 bank accounts to collect gambling funds from 66,802 members and profit about 100 billion KRW (approximately $688 million) by charging a 0.1% commission fee. The police investigation also found that the gang used deep-fake celebrity videos to lure 80 minors into gambling. Currently, 8 people have been arrested, and 11 people face non-detention indictment.
(2)Web3 Sector:
l UXLINK Launches Fuji Card to Promote Crypto Asset Adoption in Daily Payments
UXLINK has announced the launch of a cross-border crypto asset payment card called Fuji Card, in collaboration with an international payment institution, aiming to facilitate the use of crypto assets in daily life, including clothing, food, housing, and transportation, cross-border transfers, and DeFi services, further promoting the adoption and practicality of crypto assets. The issuance of Fuji Card will be supported by the blockchain technology of the UXLINK Social Growth Layer, while the One Account One Gas (OAOG) protocol will provide users with a smooth user experience. Additionally, Fuji Card will introduce high-quality Web3 projects within the UXLINK ecosystem, providing users with rich value-added benefits and airdrop opportunities, further enhancing the user experience and ecosystem value, and empowering $UXLINK. UXLINK plans to use the social crypto fiat cross-border payment card as a foundation to build a seamless bridge between crypto assets and real-world applications, providing users with secure, inclusive, and beneficial financial services.
3. Hot Narratives
l Trump Family Crypto Craze: Trump Coin Skyrockets Then Crashes, Melania Coin Follows Suit
In the two days before Trump's inauguration, he launched his personal meme coin "Trump Coin", which quickly sparked a market frenzy. According to CoinGecko data, "Trump Coin" opened at $0.1824 and surged over 15,000% within 12 hours, reaching a high of $84, with a market cap approaching $80 billion at one point. Shortly after, Trump's wife Melania also launched her own cryptocurrency - "Melania Coin", which broke through $5 shortly after launch, with a market cap exceeding $5 billion. However, this series of coin issuances had a huge impact on the market, with "Trump Coin" plummeting 60% within 30 minutes of the launch of "Melania Coin", while Solana and Bitcoin also saw significant declines. Analysts believe this phenomenon reflects the market's frenetic pursuit and rapid shift away from the Trump family's cryptocurrencies. Within minutes of the launch of "Melania Coin", a large number of investors began to sell off "Trump Coin". Opinion leaders on social media also commented that cryptocurrencies seem to have become a business for the Trump family. The Trump family holds 80% of the total supply of "Trump Coin" through their company, which means their selling behavior could have a significant impact on the market. In addition, Trump appointed David Sacks as the head of cryptocurrency and AI affairs, indicating his policy support for the crypto industry. Although the short-term performance of "Trump Coin" and "Melania Coin" has been eye-catching, research institutions have warned that this high volatility and speculative nature may bring risks, and investors should be cautious about such meme coins to avoid losses.
