According to a report released by James Butterfill, Head of Research at crypto asset management firm CoinShares, the digital asset treasury (DAT) bubble has largely burst. Companies that traded at 3 to 10 times their market capitalization-to-net-asset (mNAV) in the summer of 2025 have now fallen to around 1 times or lower. This trading model, which once viewed token treasuries as a growth engine, has experienced a sharp correction. The future performance of these companies depends on market behavior: either the price drop triggers a disorderly sell-off, or the companies maintain their positions and wait for a rebound. An improved macroeconomic environment, and a potential interest rate cut in December, would support cryptocurrencies. (CoinDesk)

According to Odaily Planet Daily, spot gold touched $4250 per ounce, up about 1% on the day. (Jinshi)

Odaily Planet Daily reports that Cloudflare released an analysis of today's outage, revealing that it lasted approximately 25 minutes and was not caused by a cyberattack. (Jinshi)

Odaily Planet Daily reports that Liquid Capital published an article on the X platform stating: "The Ethereum Fusaka upgrade caused a 15 million-fold surge in blob base fees. The core reason is the addition of a 'minimum guarantee mechanism' for blob fees in EIP-7918. Previously, blob fees had no minimum limit and were consistently stuck at 1 wei (almost free), resulting in nodes bearing costs such as KZG verification without reasonable returns. After the upgrade, blob fees must be ≥ 1/15.258 of the L1 execution base fee, directly anchoring to real network costs. This design allows prices to reflect actual resource consumption (preventing L2 from occupying network resources for free) and can regulate blob traffic and prevent congestion through price fluctuations. At the same time, PeerDAS technology increases blob storage capacity. In addition, blob fees are included in the ETH burning mechanism, which is estimated to burn up to 8 times more ETH in the future, potentially contributing 30-50% of the total burned amount by 2026 (depending on the growth of L2 transaction volume)."

A key inflation indicator released by the U.S. Commerce Department on Friday showed that September's inflation rate was lower than expected. This report, delayed due to the government shutdown, further signals a potential interest rate cut by the Federal Reserve. The core PCE price index, excluding volatile food and energy prices, rose 0.2% month-on-month and 2.8% year-on-year. The monthly rate met expectations, but the year-on-year rate was 0.1 percentage points lower than expected. Additionally, according to data from the U.S. Commerce Department's Bureau of Economic Analysis, overall personal consumption expenditures rose 0.3% month-on-month, and the annual inflation rate was also 2.8%. Both figures were in line with expectations. Federal Reserve officials use the PCE price index as a primary policy tool for measuring inflation. While officials consider both overall and core data, they generally believe that the core data is a better indicator of long-term inflation trends. The report was delayed for several weeks due to the government shutdown, during which all data collection and economic reporting were suspended. (Jinshi)

According to Onchain School, a wallet that previously received LINEA tokens from the project's main wallet has again sent tokens to the Binance exchange via a Flow Trades address. The latest transfer totaled $1.8 million. This is the third time this wallet has transferred funds to the exchange, bringing the total amount of LINEA tokens sent to Binance this month to $4.5 million.

According to data from Coinglass, as reported by Odaily Planet Daily, a total of $112 million in positions were liquidated across the network in the past four hours. Of this, $90.6411 million were long positions and $21.2273 million were short positions. In addition, $44.89 million of BTC positions were liquidated and $19.22 million of ETH positions were liquidated.

According to Joanne Hsu, director of the University of Michigan's Consumer Survey, the consumer confidence index rose 2.3 points to 53.3 in early December, within the margin of error. This month's increase was primarily driven by younger consumers. While perceptions of the current situation remained largely unchanged, expectations improved—personal financial expectations rose 13%, with improvements across all age groups, income levels, educational backgrounds, and political affiliations. However, the personal financial expectations index in December was still nearly 12% lower than at the beginning of the year. Labor market expectations improved slightly but remained relatively weak. Consumers perceived some indicators as slightly better than in November, but overall sentiment remained cautious, with high price burdens continuing to be a major concern. Looking ahead, one-year inflation expectations fell to 4.1% in December from 4.5% in November, the lowest level since January 2025, marking the fourth consecutive month of decline. However, short-term inflation expectations remained higher than January's 3.3%. Long-term inflation expectations fell to 3.2% in December from 3.4% in November, unchanged from the January 2025 reading. (Golden Ten)

According to Odaily Planet Daily, the preliminary reading of the US one-year inflation rate in December was 4.1%, lower than the expected 4.5% and the previous reading of 4.50%.

The preliminary reading for US 5-10 year inflation expectations in December was 3.2%, below the expected 3.4% and the previous reading of 3.40%. (Jinshi)

According to Odaily Planet Daily, the US core PCE price index unexpectedly fell to 2.8% year-on-year in September, a three-month low, while the market expected it to record 2.9% for the third consecutive month. Following the release of the US PCE data, spot gold saw little short-term fluctuation, currently trading at $4242.46 per ounce. (Golden Ten)

According to Odaily Planet Daily, the US September PCE price index rose 0.3% month-on-month, below the expected 0.30% and the previous value of 0.3%. (Golden Ten)

According to a court document filed with a New York federal judge, U.S. prosecutors have recommended a 12-year prison sentence for Terraform Labs co-founder Do Kwon for his fraudulent activities that led to the $40 billion collapse of the TerraUSD stablecoin in 2022. Sentencing is scheduled for December 11 by U.S. District Judge Paul Engelmayer. (Bloomberg)

Odaily Planet Daily reports that Bank of America stated the market may soon digest expectations of a Federal Reserve rate cut in January. (Jinshi)

According to Lookonchain monitoring, following Circle's recent minting of 500 million USDC, a total of 10 billion USDC has been minted in the past month.