Yitaixia: ETH Still Significantly Undervalued

On December 4, the GoPlus November Web3 Security Report noted that the Web3 ecosystem suffered $183.98 million in economic losses from major security incidents in November. Balancer lost $128 million to an exploit, while Upbit was hacked, resulting in $36.8 million in losses. Incident categories included smart contract vulnerabilities, social engineering attacks, phishing, fake projects, rug pulls, and more. Smart contract flaws drove $175.03 million in losses across 15 major incidents. Phishing attacks caused roughly $8 million in total losses, impacting some 7,000 victims.

On December 4, DeSci and AI asset issuance protocol OramaPad announced it will launch Floa — the second project in its Onboarding Community Market (OCM) — in partnership with ecosystem ally KingnetFun, a Web3 entertainment platform. The initiative is titled “On-Chain AI Agent Twin for Everyone: Train & Earn.” Floa aims to build an open, intelligent agent ecosystem, with a cross-platform intelligent entity as its core product. These entities are creatable, trainable, verifiable, and monetizable. Users can train their exclusive agent via daily interactive tasks (such as collaborative conversations or task execution) without needing coding skills or expertise. This enables them to handle various digital tasks — including asset management and scenario-based service integration — and earn ecosystem rewards. Floa positions itself as the “portable intelligent collaboration partner” for everyday users entering the age of intelligent entities.

December 4 — According to Alternative Data, today’s cryptocurrency Fear and Greed Index sits at 26 (down from 28 yesterday), meaning the market remains in "Fear" territory. Note: The Fear and Greed Index ranges from 0 to 100, based on six core indicators: Volatility (25%), Market Volume (25%), Social Media Hype (15%), Market Surveys (15%), Bitcoin Dominance (10%), and Google Trends Analysis (10%).

On December 4th, the U.S. Securities and Exchange Commission (SEC) delayed—for the second time—the deadline for its highly anticipated short selling and related stock loan disclosure rule. Under the SEC’s guidance, large investment management firms (including hedge funds) now have until January 2, 2028, to comply with short selling reporting requirements. Disclosure obligations for stock loan transactions are pushed back to September 28, 2028. The SEC stated the temporary exemptions are “in the public interest and consistent with investor protection goals.” In October 2023, the agency rolled out new rules: eligible asset managers must report short positions monthly, while pension funds, banks, and institutional share-lenders must submit reports the next trading day. In August, the U.S. Fifth Circuit Court of Appeals ruled the SEC failed to properly assess the rule’s economic impact and ordered the agency to reevaluate. SEC’s sole Democratic commissioner Allison Herren Le

On December 4th, per the Coinbob Popular Address Monitor: Over the past hour, a whale wallet tagged "pension-usdt.eth" boosted its BTC short position with 3x leverage, totaling roughly $60 million in notional value (position size: $93.2 million; average entry price: $92,700). The position is currently floating at a $460,000 loss (1.4%) and ranks as the top BTC short position on Hyperliquid. Earlier today at 00:00, the address partially closed a $60 million BTC short position at break-even before adding to the short again this morning. Recently, the wallet has focused on swing trades with low leverage and large order sizes: it held positions for an average of ~8 hours this week, and has generated $6.6 million in monthly profits.

Dec. 4 — Onchain Lens data indicates a newly created wallet’s 20x-leveraged short position on BTC has been fully liquidated, resulting in a $3.2 million loss.