Coinbase: Takes a Cautiously Optimistic View of the Current Market, Speculative Bubble Has Been Deflated
**December 10 Update: Coinbase Institutional**
Coinbase Institutional noted in a social media post on December 10 that November’s market volatility could lay the groundwork for December’s price action. Key November metrics:
- BTC, ETH and SOL perpetual contract open interest fell 16% month-over-month.
- U.S. spot ETFs posted $3.5 billion in BTC outflows and $1.4 billion in ETH outflows.
- BTC perpetual contract funding rates briefly dipped below 2 standard deviations of their 90-day moving average before rebounding.
Coinbase Institutional attributes the market’s cautiously optimistic tone to the clearing of speculative froth: systemic leverage has dropped from ~10% of total market cap this summer to 4–5%, signaling a healthier market structure and reducing the likelihood of a sharp pullback through year-end.
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Blockchain Capital has withdrawn 1.13 million UNI from a CEX in the last 6 hours, totaling $6.48 million.
On December 10th, per Onchain Lens monitoring, Blockchain Capital has withdrawn 1.13 million UNI tokens (valued at $6.48 million) from crypto exchanges Bybit, Binance, and OKX over the past 6 hours.
Currently, the wallet holds 1.92 million UNI tokens, worth $10.88 million.
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Bitget is launching the 6th round of VIP Promotion Event, where upgrading to Contract VIP1 will unlock 15,000 BGB.
On December 10, Bitget kicked off its 6th VIP Upgrade Event. During the event, users who meet the futures trading volume requirement and upgrade to Futures VIP 1 will collectively unlock 15,000 BGB.
This event is exclusive to selected users. To join, you must sign up by clicking the "Sign Up" button on the event page.
The event wraps up at 11:59 PM on December 16 (UTC+8).
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IoTeX was invited to attend the Washington Policy Summit, engaging in a high-level discussion with SEC Chairman Paul Atkins.
On December 10, the IoTeX team was invited to the Washington Policy Summit in its role as Chair of the Blockchain Association’s DePIN Working Group. The team held in-depth discussions with several high-profile policymakers, including U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins, Senator Bill Harley, and Congresswoman Haley Stevens.
The summit centered on key topics: cryptocurrency market structure, stablecoins, and Real World Assets (RWA). IoTeX co-founder Jing, during a discussion with SEC Chair Atkins, emphasized that machine networks and artificial intelligence (AI) are laying the groundwork for a new economy. On-chain tokenization of DePIN (Decentralized Physical Infrastructure Networks) and RWA will not only expand U.S. capital access and address energy challenges amid the AI revolution, but also empower everyday Americans to engage in the new economy—further driving widespread stablecoin adoption.
Regarding cryptocurrency regulation, SEC Chair Atkins issu
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Yi Li Hua: ETH is severely undervalued, will hold long term, no more short-term trading.
**December 10: Li Huayi, founder of Liquid Capital (formerly LD Capital), said in a social media post that for long-term spot investments, a few hundred dollars in price difference doesn’t matter.**
He noted Ethereum (ETH) is currently undervalued due to macro factors (expectations of interest rate cuts, pro-crypto policies) and industry trends: stablecoins are seeing long-term growth, and financial activity is shifting to blockchains. Additionally, ETH’s fundamentals have completely changed—these are also why he’s holding a heavy position in WLFI/USD1.
Once fully positioned, Li will make no further short-term trades, leaving the rest up to time. He emphasized spot market volatility is already significant, so it’s advisable to steer clear of futures contracts:
- Most people lack the necessary professional skills and mindset for futures trading.
- It’s a nine-out-of-ten losing game that drains energy; that energy is better spent growing off-exchange business.
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Cryptocurrency Fear and Greed Index Rises to 26, Escaping 'Extreme Fear' Zone
December 10th Crypto Fear & Greed Index Update
Per alternative data, today’s cryptocurrency Fear and Greed Index stands at 26—up from 22 yesterday. The market has shifted out of “extreme fear” and into the “fear” zone.
Note: The index ranges from 0 to 100, weighted by six key metrics: Volatility (25%), Market Trading Volume (25%), Social Media Activity (15%), Market Surveys (15%), Bitcoin Dominance (10%), and Google Trends Analysis (10%).
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