Fidelity Digital Asset Report: ETH Shows Clear Long-Term Advantages, Certain Public Chain Performs Outstandingly in the Short Term

1. Market Highlights

1. Market Conditions

(1) Macroeconomic Environment:

Former Fed Vice Chairman believes that Trump's re-election will not affect the independence of the Federal Reserve.

Randall Quarles recently stated that even if Trump returns to the White House, it will not have a significant impact on the Federal Reserve's independence, inflation levels, and the job market. He pointed out that there are some misconceptions about the public's understanding of the Federal Reserve's independence, emphasizing that the president has the right to express opinions on Federal Reserve policy, but this does not equate to interfering with its independence. Quarles, who served in the Trump administration, mentioned that tariff policies might actually prompt the Federal Reserve to lower interest rates. He also predicted that if Trump is elected, there could be large-scale deportations of illegal immigrants, but this would not have a significant impact on the labor market. These remarks come just as the Consumer Price Index report is set to be released, which may show that under the current economic environment, inflation in the U.S. will only slightly cool by the end of 2024, potentially affecting the Federal Reserve's future interest rate decisions.

(2) Web3 field:

Fidelity Digital Assets Outlook Report: Ethereum shows clear long-term advantages, a certain public chain performs outstandingly in the short term.

Fidelity Digital Assets' latest 2025 outlook report points out that Ethereum has significant advantages in long-term development, while also acknowledging the rapid growth of a certain public chain. The report emphasizes Ethereum's advantages in fundamental indicators such as developer activity, total locked value, and stablecoin supply, laying a solid foundation for its long-term development. Although the certain public chain grows faster in revenue and total locked value, Fidelity believes its revenue mainly comes from Meme coin trading, which is seen as a cyclical trend that performs well in bull markets but may weaken in bear markets. The report further notes that the certain public chain's reliance on Meme coins is similar to Ethereum's use of a certain DEX, but Fidelity believes that Ethereum's fundamentals are less correlated with speculative behavior, making it more stable in the long run. Fidelity states that short-term price movements are often influenced by market narratives and mentions that both networks plan significant upgrades. The certain public chain's upgrade aims to significantly enhance transaction speed, while Ethereum's upgrade focuses on enhancing functionality, scalability, and user security. However, Fidelity believes that Ethereum's upgrade may not attract widespread attention from the community, as it has no direct impact on ETH's value proposition from an investment perspective.

2. Hot Events

(1) Macroeconomic Environment:

Italy's largest bank invests in Bitcoin for the first time, purchasing 11 coins worth approximately 1 million euros.

Italy's largest banking group has ventured into cryptocurrency investment for the first time, purchasing 11 Bitcoins with a total value of approximately 1 million euros (about 1 million USD). This news initially circulated on online forums and was later officially confirmed by the bank's press department. Although the bank has confirmed the authenticity of the transaction, it did not disclose the investment motives or future cryptocurrency strategic plans. The bank has been at the forefront of blockchain and cryptocurrency, having previously collaborated with another financial institution in July 2024 to pilot the issuance of digital bonds worth 27.2 million USD on a public blockchain. The trend of large institutional investments in Bitcoin is becoming increasingly evident, with a well-known software company leading this trend by continuously purchasing Bitcoin for 10 consecutive weeks. Other institutions, such as a company referred to as the "Asian version," are also actively following suit, recently purchasing 237 Bitcoins at a price of 95,972 USD.

(2) web3 field:

Bitcoin price rebounds to $94,000, Trump may sign executive order supporting cryptocurrencies.

With news that Trump may sign an executive order supporting cryptocurrency on his first day in office, the price of Bitcoin has rebounded to $94,000. These orders may revoke some key regulatory measures, including the SEC's Staff Accounting Bulletin No. 121 (SAB 121), which requires companies holding customer cryptocurrencies to account for these assets as liabilities on their balance sheets. Reports suggest that these orders are expected to address major challenges facing the cryptocurrency industry, such as banking restrictions and the controversial SAB 121. This bulletin has faced criticism from the industry, and lawmakers have attempted to repeal it, but were vetoed by the current president. Trump’s new administration is expected to re-evaluate this issue; currently, the SAB 121 policy makes it more expensive and risky for banks to hold cryptocurrencies, making them less likely to offer cryptocurrency custody services to customers.

With the news coming out, the cryptocurrency market experienced a strong rebound, with Bitcoin bouncing back from a low of $89,000 to $95,000; Ethereum also recovered from below $3,000 to $3,100.

3. Hot Topics Narrative

ANIME token is about to launch: 50.5% allocated to the community A certain NFT project collaborates with Animecoin to create an open anime universe.

Official news indicates that the ANIME token is set to launch in January 2025 on Ethereum and a certain second-layer public chain, with 50.5% of the tokens allocated to the community. ANIME aims to transform the anime ecosystem by collaborating with decentralized brands such as a certain NFT project, establishing a community-owned creative economy that seeks to provide participation opportunities for over 1 billion anime enthusiasts. Community members participating in the token claim include several well-known projects. A certain NFT project has also announced a partnership with the Animecoin Foundation to jointly promote the construction of an open anime universe. The project showcases the unique value of Web3 in intellectual property incubation through decentralized brand building, creating over 100 sub-communities, hosting global events, and rich fan creations.

As a result of this news, certain NFT project series NFTs have generally increased, with the main series experiencing a daily increase of 17.45%, the derivative series seeing a daily increase of 20.25%, and another derivative series reaching a daily increase of 22.86%.

Hot Projects

1. Project Introduction

$AICC | AI | Aiccelerate DAO

• A project initiated by team members from several well-known technology and investment companies.

• Aiccelerate positions itself as a DAO organization that balances investment and development. It focuses on promoting decentralized, open-source AI development and supports high-potential projects across different ecosystems.

• The team is developing the first AI agent, and more details are expected to be announced soon.

• A well-known project has been invited to provide consulting services for Aiccelerate DAO, and the team has directly transferred all AICC tokens into the project's funding pool. At the same time, it plans to use 30% of the AICC tokens to create a liquidity pair with the project's tokens, and the fees generated will be returned to the funding pool to support ecosystem plans and incentivize developer contributions. The remaining 70% of the AICC tokens have been locked in a custody contract, with the beneficiary being the project's funding pool, and will be released linearly over the next year.

3. Sector Rotation

1. Hot Sectors

2. Internal Sections