Bubblemaps: Sniper Detected in WET Presale, Over 70% of Addresses are Associated with Their Wallet

On December 5, per EmberCN monitoring, a whale address borrowed and shorted 5,000 ETH (valued at $15.66 million) over the past two hours. Two hours prior, the address borrowed 5,000 ETH (=$15.66M) from Aave, then transferred 4,000 ETH (=$12.49M) to Binance and 1,044 ETH (=$3.26M) to Bybit. Forty minutes after the ETH hit centralized exchanges (CEXs), 12.45 million USDT was withdrawn from Binance—an amount matching the value of the 4,000 ETH sent to the platform—indicating a highly likely sell-off, per analysis.

On December 5, the China Internet Finance Association (CIFA) jointly issued a new risk warning with multiple government departments to curb illegal activities involving virtual currencies. This marks the first cryptocurrency-related risk alert since 2022—ending a three-year gap. Over the past five years, CIFA has released four high-profile announcements at key moments of market speculation. ### April 13, 2022 CIFA published the *Initiative to Prevent Financial Risks Associated with NFTs*, targeting the financialization and securitization of non-fungible tokens (NFTs). It explicitly banned using virtual currencies like Bitcoin as pricing or settlement tools for NFT issuance/transactions, and prohibited financing NFT trades. The document quickly cooled the domestic "digital collectible" market. Leading platforms (Tencent’s Fantech, Alibaba’s Whale Hunt) tightened gifting rules, while dozens of small/medium collectible platforms shut down due to liquidity crunches—bursting the dome

**On December 5, the China Internet Finance Association and seven other industry associations jointly issued a risk warning targeting illegal activities tied to virtual currencies.** Key details from the warning: - Virtual currencies cannot circulate as legal tender within China. - No real-world asset tokenization activities have been approved by China’s financial regulators. - Relevant institutions are banned from operating any business related to virtual currencies or real-world asset tokenization. **2022 Background: NFT Risk Initiative** Back on April 13, 2022, the same association (alongside other groups) released an initiative to curb NFT-related financial risks. It aimed to: - Stop the trend of NFTs being financialized or securitized; - Strictly prevent illegal financial risks; - Encourage voluntary compliance with behavioral norms. Member units were jointly urged to: - Avoid direct or indirect NFT investments; - Refrain from providing financing for NF

On December 5, the Aave community passed a temperature check vote with a 99.96% approval rating. The proposal calls for disabling Aave V3 deployments on zkSync, Metis, and Soneium, and setting a $2 million revenue threshold for new chain deployments. The Aave community will subsequently release a formal ARFC proposal.

On December 5th, per DefiLlama data, Lighter’s 24-hour trading volume in Perp DEXs has dropped by ~15% but remains the top-ranked platform over the past 24 hours. Some capital has flowed to smaller market-cap platforms, with Pacifica seeing its trading volume rebound. Below are key metrics for select Perp DEXs: - Lighter: ~$8.88B 24h vol | ~$1.27B TVL | ~$1.83B open interest - Aster: ~$7.37B 24h vol | ~$1.42B TVL | ~$2.58B open interest - Hyperliquid: ~$6.32B 24h vol | ~$4.34B TVL | ~$6.30B open interest - EdgeX: ~$4.09B 24h vol | ~$0.412B TVL | ~$0.811B open interest - ApeX: ~$2.82B 24h vol | ~$47.19M TVL | ~$88.51M open interest - Variational: ~$1.75B 24h vol | ~$72.86M TVL | ~$0.373B open interest - Backpack: ~$1.15B 24h vol | TVL undisclosed | ~$2.01B open interest - Pacifica: ~$0.591B 24h vol | ~$41.78M TVL | ~$61.71M open interest (Referral links retained as original: Aster → [https://www.asterdex.com/en-US/referral/aboter](https://www.asterdex.com/en-US/re

On December 5, Binance Futures issued an official announcement stating it will automatically liquidate four U-inverse perpetual contracts on December 10, 2025, at 5 p.m. UTC+8. Following completion of the liquidation, the exchange will delist the corresponding trading pairs: SKATEUSDT, REIUSDT, FISUSDT and VOXELUSDT.