- Market Commentary: BTC’s price action over the past day saw two distinct phases: a strong intraday rebound followed by consolidation at higher levels. ETH quickly reversed after dipping to $2,719.28 on December 2 and continued to set new local highs during the subsequent rally. Gate recently listed TRADOOR spot and perpetual contracts, with TRADOOR surging over 170% in 24 hours; BOB was listed on a Korean exchange yesterday with a new KRW trading pair, driving a 110%+ gain in the past 24 hours.
- Key Data Highlights: Improved SEC regulatory signals and a rebound in rate-cut expectations triggered a V-shaped recovery in the market, with ETH leading strongly. Capital inflows may accelerate into DeFi, Layer 2s, and other Ethereum-related ecosystems. The Ethereum Fukasa upgrade is progressing smoothly; Web3 entity registrations in the Cayman Islands have surged; PayPal’s PYUSD stablecoin has seen rapid growth.
- This Week’s Focus: Kalshi and Polymarket posted nearly $10 billion in combined November trading volume, marking their strongest month ever. Since the “10/11 crash,” Circle has minted $13 billion worth of USDC on Solana, and $49 billion so far in 2025. Current market weakness is not driven by real short-term fundamentals—regulators are expected to release new 401(k) pension plan guidelines next year, which may allow crypto allocations within the $9 trillion U.S. retirement market.
- Next Week to Watch: ENA, LINEA, and BB will unlock approximately $50.92M, $12.75M, and $2.51M in tokens over the next seven days, representing 2.3%, 8.4%, and 7.4% of their circulating supplies, which may introduce short-term price volatility.
Discover more details today → Gate Research: Kalshi and Polymarket Hit Record Monthly Volume | Policy Shifts Open Mid-Term Upside for BTC
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