YM Lee

The decentralized finance (DeFi) perpetual futures protocol SynFutures (F) announced on the 20th (local time) that it will evolve into a comprehensive on-chain financial platform by introducing a Spot Aggregator and AI Agent services. SynFutures, a perpetual DEX occupying 80% of the total trading volume on the BASE blockchain, has been pursuing a growth strategy by successfully listing major projects like Degen, Lido, and Virtual through its launchpad last year. It contributes to the activation of the BASE ecosystem by supporting not only simple trading but also helping new projects enter the market successfully and securing liquidity. The spot trading that SynFutures plans to introduce in the first quarter of this year is a service that allows real-time trading of virtual assets through blockchain, providing the best prices by integrating multiple decentralized exchanges through a Spot Aggregator. SynFutures plans to maximize this in the spot market by utilizing the strong liquidity secured in the existing futures trading market and is expected to accelerate the expansion of the blockchain ecosystem. With the introduction of AI Agents, SynFutures plans to support stable trading strategies against market volatility, including liquidity optimization and yield farming, along with AI-based predictive analysis functions. They are also planning to analyze token launch timing and initial pricing using AI and establish an automatic verification system based on on-chain data to evaluate the reliability and safety of projects. SynFutures is expected to emerge as the first DeFi platform to support both futures and spot trading while integrating AI technology. Wenny Chai, Head of Business at SynFutures, stated, "The core keywords for blockchain in 2024 were meme coins and AI. Just as meme coins have shown community-centered innovation, financial services incorporating AI will lead the market in 2025." SynFutures is pursuing organic expansion based on strong linkage with the existing perpetual futures trading infrastructure. While maintaining competitiveness as a perpetual DEX, it introduces an AI-based price discovery mechanism to provide optimal liquidity and enable more sophisticated price formation. They plan to provide an optimized market entry environment, offering smoother market expansion solutions for projects, traders, liquidity providers, and the community. Traders can enjoy an enhanced trading experience with improved liquidity and reduced slippage, while liquidity providers can operate capital more effectively using smart liquidity optimization functions. The community can access reliable financial services through a transparent project verification system and AI-based social trading functions. Mark Lee, Head of Marketing at SynFutures, emphasized, "SynFutures will build an ecosystem that allows users to experience various blockchain-based decentralized financial services beyond a simple futures exchange," adding, "We will grow into a platform that provides financial opportunities to more users beyond simple trading support."

As the demand for Ethereum (ETH) Layer 2 surges, it is expected that the chain will face operational limits within a few months. According to a report by CoinDesk on the 20th (local time), Gautam Santosh, co-founder of Polynomial, predicted that "Ethereum Layer 2 scaling solutions may soon reach their limits." Layer 2 solutions are protocols built on top of the Layer 1 network, adopted to improve scalability and reduce off-chain transaction costs. Gautam Santosh stated, "Currently, 55% of all blob space is consumed by World and Base Chain, and with continuous demand growth, available capacity could quickly deplete. At the current growth rate, it seems challenges will arise within months." Currently, the target is 3 blobs per block, with a limit of 6. Once the target is reached, a base fee is charged to manage L2 demand. The Pectra Update scheduled for March aims to increase the blob limit to 9, but Santosh predicted that this would only buy a few months of time.

Volatility in the cryptocurrency market is rapidly increasing ahead of the inauguration of U.S. President-elect Donald Trump. According to CoinGlass data on the 20th (local time), the liquidation amount of cryptocurrency perpetual futures positions in the last hour is approaching $100.32 million. Among them, the proportion of short positions is a staggering 78%, suggesting that large-scale liquidations occurred as Bitcoin hit a new high due to the Trump-induced rally. The exchange with the most position liquidations was Binance, with $28.31 million liquidated, followed by Gate.io ($22.38 million), OKX ($20.06 million), and Bybit ($15.20 million).

Global cryptocurrency exchange Binance has announced the launch of the Melania (MELANIA) perpetual futures contract. On the 20th (local time), Binance announced through its official channel, "Starting from 9:30 AM (UTC) on the 20th, the Melania perpetual futures contract will begin. The maximum leverage supported is 25x."

Bitcoin (BTC) has surpassed the 160 million won mark on the Upbit KRW market. As of the 20th, Bitcoin (BTC) is trading at 161 million won on the Upbit KRW market, up 4.96% from the previous day. According to Kimchi Premium data, the price difference between the global market and the domestic market, known as the Kimchi Premium, remains at 3.15%. Ahead of President Donald Trump's inauguration, the global virtual asset (cryptocurrency) market continues to be strong.

Bitcoin (BTC) continues its bullish trend ahead of the inauguration of U.S. President-elect Donald Trump. As of the 20th (local time), Bitcoin is trading at $107,000 on the global cryptocurrency exchange Binance Tether (USDT) market. With the inauguration of U.S. President-elect Donald Trump approaching tomorrow morning, the cryptocurrency market appears to be recovering. President-elect Trump garnered attention in the cryptocurrency market by issuing Trump (TRUMP) meme coins and Melania (MELANIA) meme coins based on the Solana (SOL) chain a few days before the inauguration. Currently, the official Trump meme coin ranks 17th in cryptocurrency market capitalization according to CoinMarketCap.

The terms of use for the Trump (TRUMP) and Melania (MELANIA) meme coins, which have recently been heating up the market, include a clause for waiving class action lawsuits. On the 20th (local time), the terms posted on the official websites of the Trump and Melania meme coins include a 'class action waiver' clause. According to the terms of the two meme coins, the class action waiver clause specifies that 'to the extent permitted by law, you agree not to initiate, join, or participate in any class action lawsuit against the protected parties regarding any claims, disputes, or controversies. You agree to an injunction to halt such lawsuits or to exclude yourself from the lawsuit participants.' Additionally, the coin terms include several clauses to avoid legal risks, such as: △ Meme coins are not intended to be investment opportunities, investment contracts, or any type of securities, and should only be traded as the intended crypto assets as specified, and investors must agree to this △ There is no promise or guarantee that the value will increase or maintain the same value as the amount you paid to purchase them.

Ripple has set a new record high in KRW for the first time in years. Currently, Ripple is priced at 4,968 KRW on the Upbit KRW market, surpassing the previous record set in January 2018.

It appears that Donald Trump, the President-elect of the United States, is making significant efforts to establish crypto-friendly policies and promote the industry. On the 16th (local time), the New York Post reported, citing anonymous sources, that "President-elect Donald Trump has been working to promote cryptocurrencies in various sectors even before taking office, leading to a change in the overall mood of the crypto market for many companies." An anonymous industry insider emphasized, "Recently, crypto startups that had moved overseas are returning, which could lead to a crypto renaissance." There is also an opinion that President-elect Trump will continue to push forward with full-scale policy initiatives after taking office. An industry insider predicted, "Recently, President Trump met with numerous crypto stakeholders and discussed various policies. It is expected that changes in accounting rules will make Bitcoin transactions easier in the future." There was also an opinion that policies prioritizing cryptocurrencies issued based in the United States, such as Solana (SOL), Ripple (XRP), and USD Coin (USDC), would be implemented. An industry insider stated, "President-elect Trump showed a very favorable response to an executive order prioritizing the adoption of strategic reserves of digital coins established in the United States, including Solana."

More than 30% of Ethereum (ETH) validators have expressed support for increasing the block gas limit. According to The Block on the 16th (local time), Tony Warshtetter, a researcher at the Ethereum Foundation, stated, "So far, more than 30% of Ethereum validators have expressed support for increasing the block gas limit, a crucial parameter that determines the network's transaction processing capacity." Currently, the Ethereum gas limit is 30 million gas, and about one-third of validators support raising it to 40 million gas. Validators can express support for a higher limit and modify node configurations without a hard fork. If more than 50% of validators approve the proposal, the block gas limit is automatically adjusted to the consensus level.

As the inauguration of U.S. President-elect Donald Trump approaches, expectations are rising in the virtual asset (cryptocurrency) industry. According to a report by Cointelegraph on the 16th (local time), Eli Cohen, the Chief Legal Officer of the Real World Asset (RWA) platform Centrifuge, emphasized, "Once the Trump administration is inaugurated and banking and brokerage channels are developed, more tokenized products will enter the market." He explained, "With Trump's inauguration, the threats posed by Gary Gensler and the Securities and Exchange Commission (SEC) that have been looming over the market will disappear," adding, "The regulatory environment is expected to become more favorable towards the virtual asset industry, including RWA."

New York-based law firm Burwick has announced plans to take legal action against the Solana-based meme coin launchpad platform Pump.fun. According to a report by The Block on the 16th (local time), Burwick emphasized that "various antisocial behaviors such as illegal drugs, self-harm, racism, and anti-Semitism are appearing on the Pump.fun platform, yet Pump.fun is reaping enormous fee revenues." They added, "Despite the platform creator acknowledging the importance of scalability and transparency in retail participation, they remain anonymous, which raises serious concerns about accountability."

Cody Maynard, a member of the Oklahoma House of Representatives, has proposed a bill to accumulate Bitcoin (BTC) as a strategic reserve for the state. According to The Block's report on the 16th (local time), Representative Maynard introduced 'House Bill 1203', aiming to include Bitcoin in Oklahoma's savings accounts and pension funds. If the bill passes, the Oklahoma State Treasury will be able to hold Bitcoin, virtual assets, stablecoins, and more as state assets. Representative Maynard emphasized, "Bitcoin, as a decentralized asset, is free from manipulation by government agencies. It will become the ultimate store of value for those who believe in financial freedom and sound capital principles."

Ripple has recently broken its 8-year record for open interest (OI) size, driven by a strong bullish trend. On the 16th (local time), the cryptocurrency-focused media outlet CoinDesk reported, "Ripple, which couldn't reach an all-time high during the 2021 bull market due to regulatory issues, is now leading the market with the fastest upward trend in this bull market." According to CoinDesk data, Ripple surged about 50% this month, surpassing $3 for the first time in 8 years. Its market capitalization is currently $176.75 billion, ranking third in cryptocurrency market capitalization. Ripple's perpetual futures open interest is at an all-time high of 2.34 billion XRP. The funding rate is around 13%, which is much healthier and more sustainable compared to last December's approximately 100% rate.

Following the announcement of the US Consumer Price Index (CPI), the open interest (OI) for Bitcoin (BTC) on Binance has significantly increased. On the 16th (local time), Cointelegraph reported that CryptoQuant analyst Verakeshmesh stated, "As December's core inflation recorded lower than expected, the open interest for Bitcoin on Binance rose by a whopping 3.30% in just two hours." Since then, the open interest for Bitcoin on Binance has steadily increased, currently reaching $12.2 billion. As inflation indicators record favorable figures for the market, investor sentiment in risk assets, including virtual assets, is also reviving.