BSC On-chain Meme Market Embraces "Cutting the Fat," with Most KOLs Liquidating Their Holdings of Recent Hot Memes

On December 7, data from Alternative Data shows the cryptocurrency Fear & Greed Index has dropped to 20 (down from 23 yesterday), signaling the market remains in a state of “extreme fear.” Note: The Fear & Greed Index ranges from 0 to 100, with components including: Volatility (25%) + Market Trading Volume (25%) + Social Media Hype (15%) + Market Surveys (15%) + Bitcoin Dominance (10%) + Google Trends Analysis (10%).

On December 7, Coinglass data shows that centralized exchanges (CEXs) recorded a net outflow of 206,400 ETH over the past seven days. The top three CEXs by ETH outflows were: - Binance (92,300 ETH outflow) - Kraken (79,400 ETH outflow) - OKX (36,000 ETH outflow) Additionally, Bybit led inflows with 2,271.69 ETH, topping the list of CEXs with ETH inflows.

December 7 – Per an announcement from Huobi HTX, the exchange will jointly launch NIGHT/USDT spot trading on December 9. Deposits for NIGHT will open shortly. Additionally, Huobi Futures will add NIGHT/USDT (10x) isolated margin trading pairs. Per reports, Midnight is a next-generation blockchain, and NIGHT is a popular token within the ADA ecosystem. It leverages zero-knowledge proof (ZKP) technology to deliver utility without compromising data protection or ownership, enabling applications that safeguard user, business, transaction data, and metadata.

As of Dec. 7, WIN has surged over 90% in the past 24 hours, per HTX market data. The token is currently trading at $0.0000575, with a market capitalization of $57.5 million.

On December 7th, Coinglass data shows that if Ethereum breaks above $3,100, cumulative short liquidation intensity across major centralized exchanges (CEXs) will hit $565 million. Conversely, if Ethereum drops below $3,000, cumulative long liquidation intensity on major CEXs will total $471 million. BlockBeats Note: Liquidation charts do not display the exact number of contracts up for liquidation or the precise value of those contracts. Instead, the bars on these charts reflect how significant each liquidation cluster is compared to adjacent clusters—this is what’s meant by "intensity." As a result, liquidation charts indicate how strongly an asset’s price will be impacted when it hits a specific level. A taller "liquidation bar" means the price reaching that threshold will spark a more intense reaction driven by a liquidity cascade.

**Foresight News (Dec. 7) —** Domestic GPU firm MoreThread, billed as “China’s first GPU stock,” skyrocketed nearly 470% on its Sci-Tech Innovation Board debut Dec. 5, pushing its market cap above 3 trillion yuan. The IPO netted 267,000 yuan, with investors including Tencent and ByteDance scoring over 35x returns—some institutions hit 6,200x. But the hype has resurfaced controversies tied to co-founder Li Feng’s crypto past: - **2017 ICO Project:** Li launched the questionable “Malgo Coin (MGD)” with Li Xiaolai, backed by an exaggerated whitepaper and fabricated team credentials. The project raised 5,000 ETH during the ICO boom, with just 25% earmarked for R&D (remaining funds’ use was unaccounted for). It later rebranded to “Camel Coin” amid regulatory scrutiny. - **2018 BTC Loan Allegations:** OKEx founder Star accused Li of borrowing 1,500 BTC (~$10M at the time, ~$135M today) and vanishing without repayment. Star said he filed legal claims in China and the U.S., but vagu