TLDR CRYPTO 2024-11-29

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CELSIUS TO DISTRIBUTE $127 MILLION TO CREDITORS IN SECOND BANKRUPTCY PAYOUT

Celsius, a now-bankrupt crypto lender, is distributing $127M in cash or crypto to creditors in its second bankruptcy payout, which covers roughly 60% of petition date claims. This follows its 2022 bankruptcy, a $1.2 billion balance sheet gap, and fraud charges against its former CEO, Alex Mashinsky, who faces up to 115 years in prison.

BITCOIN MINERS APPROACH $40B MARKET CAP AS DIFFICULTY SET FOR FIFTH STRAIGHT INCREASE

Publicly traded bitcoin miners are nearing a $40 billion market cap, doubling in seven months as Bitcoin approaches six figures, despite halved rewards and rising mining difficulty. To adapt, companies are diversifying into AI and computing services or expanding bitcoin holdings, like Marathon's 703 BTC purchase via a $1 billion note, while sector ETFs trail Bitcoin's 113% YTD growth.

HYPERLIQUID TO LAUNCH TOKEN TODAY, NOV 29TH

Hyperliquid, the largest decentralized exchange by volume and active users, will host the HYPE genesis event at 07:30 UTC on November 29, introducing its native token, HYPE, which secures its high-speed HyperBFT consensus. Expanding from a DEX to a full financial system, Hyperliquid combines cutting-edge onchain performance with programmability via HyperEVM, aiming to revolutionize decentralized finance with trustless, high-throughput infrastructure.

INTRODUCING AGENTIC AD FRAMEWORK V1

VaderAI has launched a system where agents act as Key Opinion Leaders (KOLs) in crypto, receiving a $10,000 token airdrop that influences communication frequency about the token. With a transparent vesting schedule and rewards for VADER stakers, this framework lays the groundwork for a streamlined agentic economy, with future improvements planned for token distribution, KOL selection, and engagement-based rewards, alongside potential applications in gaming.

EXPLORING BASE'S ROLE IN THE GROWING ONCHAIN ECONOMY

The onchain economy has experienced explosive growth in 2024, with weekly transactions up 60% 531 million and TVL increasing 110% to $88 billion. Base has stood out as the leading onchain ecosystem with daily transactions up 1,900% to 7.7M and stablecoin volume growing over 8,800% to $55B weekly. Base's rapid adoption has been caused by sub-cent transaction fees and a diverse set of applications, positioning the network as a key infrastructure layer for the expanding onchain economy.

TOP 7 AGENT ECOSYSTEMS YOU SHOULD KNOW ABOUT

The AI agent ecosystem in crypto has evolved into several distinct architectures, with Virtuals emerging as the leading platform with its GAME engine for agent-to-agent interactions and over 4,000 agents. The ecosystem spans different technological focuses: Eliza is Solana's dominant open-source framework, Holoword has advanced 3D audiovisual capabilities, and Myshell has significant adoption with 4 million users across 300 models. Moemate stands out with cross-platform compatibility in AR/VR, while platforms like vvaifu.fun and CreatorBid target specific niches on Solana and Base. Multiple platforms are preparing token launches, and the sector is poised to receive multi-billion dollar valuations.

METAMASK CO-FOUNDER: MEMECOINS REVEAL WEB3 AND AI CONSENT FLAWS

MetaMask co-founder Dan Finlay's memecoin experiment showed flaws in Web3's approach to consent, trust, and investor expectations similar to challenges in AI platforms regarding data use without explicit consent. His findings reveal the need for better tools, incentives, and infrastructure to create clearer structures, foster trust, and improve user experience in the memecoin and broader Web3 ecosystems.

VAMPIRE DROP

The "Vampire Drop" strategy for token launches involves incentivizing users to deposit competitor tokens into vaults in exchange for future rewards in the project's token. The scheme creates buyer pressure for the new token while flooding the market with competitor tokens, a tactic that is likely illegal and highly controversial.

COINBASE'S DECISION NOT TO SUPPORT CELO LAYER 2 UPGRADE CAUSES STIR AMONG STAKEHOLDERS

Coinbase's decision not to support Celo's migration from Layer 1 to Layer 2 in Optimism's Superchain has sparked criticism from Celo's community and Ethereum advocates and raised concerns about its impact on Ethereum's scaling roadmap.

AAVE SUPPLY GROWS ON BASE

Base has seen over 5,000% growth in supply and net deposits since January, marking a year of all-time highs in market activity.

POLYGON POS APPRECIATION

Ethereum appears biased against Polygon POS despite its significant contributions to Ethereum adoption through developers, users, and global partnerships.

HONG KONG PLANS TO CUT TAXES ON CRYPTO

Hong Kong has announced plans to reduce taxes on cryptocurrency for hedge funds and private equity firms, signaling a push to strengthen its position as a global crypto hub.

COINBASE SUNSETS USDC REWARDS IN EEA

Coinbase is discontinuing its USDC Rewards program for EEA customers beginning December 1 because of compliance with the European MiCA regulation's new requirements for e-money tokens.