Last night, the crypto market was quite turbulent, with several mainstream tokens caught in a high-level oscillation cycle. BTC has recently made its sixth attempt to break through the $90,000 mark, but each time it has fallen short, and investors' sentiment is obviously a bit fatigued. At the same time, US stocks saw a slight increase last night, but this rise had a limited impact on the crypto world, and market sentiment remains gloomy.

A noteworthy message has come from the policy front - Trump is expected to officially announce the list of candidates for the Federal Reserve Chairman in the first week of January. According to Polymarket data, the odds for Hasset have risen to a winning probability of 61%, indicating a high level of market attention to this decision.

The MEME craze in the SOL ecosystem has not cooled down. The project Snowball has been very active recently, with its market capitalization once soaring to the 10 million dollar mark but ultimately failing, and it eventually retraced to 7.4 million dollars. This small setback actually confirms the resilience of on-chain MEME sentiment — although the overall heat has fluctuated, it has not collapsed.

There are new developments in the derivatives track. A leading on-chain trading platform has launched pre-market contract trading for the project LIT (Lighter), with a current price of 3.96 USD and a liquidity market cap approaching 4 billion USD. Market rumors suggest that its airdrop distribution may start on December 29.

Statistics show that by 2025, the phenomenon of new coins breaking their issue price has almost become common—only 15% of projects have their FDV price maintained above the TGE stage. This set of data is somewhat heart-wrenching, reflecting that the pricing in the primary market is generally too high.

The ETH holdings also show a clear differentiation. The well-known fund BitMine continued to increase its holdings last week, adding 98,000 ETH in a single week, with total holdings surpassing 4 million ETH, displaying an exceptionally firm stance. In contrast, ETHZilla recently cashed out over 70 million USD, possibly due to treasury pressure.

The internal divisions within the Aave ecosystem have also heated up. The community has initiated a vote to return brand assets to the DAO, and founder Stani responded with real money—investing 5.15 million USD to show his stance. Unfortunately, the market did not buy it, and AAVE still fell by 10%.

It is worth mentioning that precious metals have performed remarkably this year. Gold has reached a new high, with the PAXG price on a certain leading exchange reaching 4492, and a daily rise of 2.6%. Silver has been even more aggressive, with an annual increase of over 139%. In contrast, the overall performance of precious metals this year has overwhelmingly surpassed that of crypto assets, which is thought-provoking.