Web3 AI Daily Review (2024/12/5)

I. Attention Value - Market Highlights

1. Market Trends

(1) Macroeconomic Environment:
l Trump announces Paul Atkins as the new Chairman of the SEC
In the early hours of December 5, Trump announced on the social media platform Truth Social that he has nominated Paul Atkins as the Chairman of the U.S. Securities and Exchange Commission. He stated, "I am pleased to announce that Paul Atkins will be the next Chairman of the SEC."
Paul Atkins is currently the CEO and founder of Patomak Global Partners and has served as the co-chair of the Digital Chamber's Token Alliance since 2017, dedicated to promoting the development of the digital asset industry. He was an SEC commissioner from 2002 to 2008, during which he actively advocated for transparency and the protection of investor interests.
Atkins is known for supporting reduced regulation on crypto assets and has criticized the SEC's practice of imposing hefty fines on companies, arguing that it harms shareholder interests. His nomination is seen as part of Trump's commitment to a cryptocurrency-friendly government. Following Trump's announcement, the cryptocurrency market experienced significant volatility, with Bitcoin's price surpassing the $100,000 mark for the first time, reflecting market optimism about regulatory changes under Paul Atkins.
(2) Web3 Sector:
l Crypto market frenzy: Bitcoin breaks $100,000 for the first time in history
On December 5, 2024, Bitcoin's price broke the $100,000 mark for the first time, reaching a historical high with a total market capitalization of $2.1 trillion. This milestone marks Bitcoin's official entry into the six-figure range, with the once-unreachable $100,000 now a reality.
Bitcoin's journey began on January 3, 2009, when the network was officially launched, with an initial trading price of just $0.0008. At current prices, this represents an increase of over 125 million times. This is not only a victory for technological innovation but also a bold attempt to reconstruct the trust system. From the white paper released during the financial crisis to now being a financial giant with a global market value exceeding $2 trillion, Bitcoin has changed our understanding of currency, wealth, and power in ways no one could have foreseen.
The story of Bitcoin continues, evolving and attracting more institutions and individuals to participate, pushing for a new balance between regulation and the market. From Satoshi Nakamoto's original intent to today's glory, Bitcoin has not only written a legendary past but also opened a new chapter for the future. Many supporters firmly believe that Bitcoin is not the end but a new starting point for redefining global finance.

2. Hot Events

(1) Macroeconomic Environment:
l Crypto industry is about to welcome regulatory easing
On December 5, the Associated Press reported that Bitcoin has surpassed the $100,000 mark for the first time, a historic price milestone closely related to Trump's nomination of Paul Atkins as the Chairman of the SEC. Paul Atkins stated that he would adopt a more lenient regulatory policy towards the crypto industry. He previously served as an SEC commissioner during President George W. Bush's administration and has opposed excessive market regulation since leaving the agency.
Under Paul Atkins' leadership, the SEC may reduce enforcement actions against cryptocurrency trading platforms and token issuers, providing greater room for industry development. Additionally, he emphasized the need to clarify which digital assets are considered securities to provide legal certainty for crypto businesses and simplify compliance processes. This policy shift could attract more investors and institutions to participate in the crypto market, promoting further maturation of the industry.
However, Paul Atkins also recognizes the necessity of maintaining certain regulations to combat illegal activities such as money laundering. Therefore, his policies may seek a balance between promoting innovation and ensuring market safety.
(2) Web3 Sector:
l Musk and a16z founder team up to create the Department of Government Efficiency (DOGE) to recruit a new team
According to the Financial Times on December 5, Marc Andreessen, founder of venture capital firm a16z, will assist Musk in recruiting senior talent for the newly established "Department of Government Efficiency" (DOGE). Although Andreessen does not hold an official position, he plays a significant role in screening and recommending executives. He has previously invested hundreds of millions of dollars in Musk's projects, including xAI and SpaceX, and supported Musk's $44 billion acquisition of the X platform.

3. Hot Narratives

l DeSci project truth revealed: Fake research phenomenon sparks industry reflection
Dragonfly partners recently discussed several hot topics, including the current state of DeSci projects. They raised questions about DeSci projects, arguing that some decentralized science (DeSci) projects have been criticized as "pretending to conduct research." This indicates that some projects in this field may not genuinely advance scientific research but rather operate commercially under the guise of research. This phenomenon has sparked widespread discussion about the authenticity and effectiveness of DeSci projects, calling for deeper reflection and improvement within the industry.

II. Attention Value - Hot Projects

1. Project Introduction
l$CONAN | meme | @weloveconan

• $CONAN represents a dog named Conan, who bit a neighbor in Burbank. Although the judge confirmed the dog's aggressiveness, he ultimately decided to return the dog to its owner under certain conditions instead of enforcing euthanasia.
• There has been a heated discussion on X regarding animal welfare, government intervention, and personal autonomy.
• Supporters commemorate this dog, which successfully avoided euthanasia through $CONAN, and convey the belief in advocating for animal rights, becoming an important symbol of saving lives and promoting individual rights.
• On the morning of December 4, the market cap of $CONAN suddenly surged fivefold, reaching a peak of $46.1 million, before quickly retracing to about $8 million, currently experiencing volatility.

III. Attention Value - Sector Rotation

1. Hot Sectors

Source: Dune, Dot Labs

Source: Dune, Dot Labs
2. Internal Sector

Source: Dune, Dot Labs