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LUNC and LUNA Surge Significantly, Leading the Market Higher, Potentially Related to SBF's Pardon

2 hours ago

On December 6, per HTX market data, LUNC has surged 70.3% in price over the past 24 hours, with a current market capitalization of $342 million. Meanwhile, LUNA has jumped 38.2% in the same period, holding a market cap of $131 million. The rally in both tokens may tie to market speculation around a potential pardon for FTX founder Sam Bankman-Fried (SBF). LUNC (Luna Classic, formerly LUNA) is the native token of the Terra Classic chain (previously Terra’s mainnet), renamed after the 2022 LUNA collapse pushed the market into a deep bear phase. The new LUNA, by contrast, is the native token of the Terra 2.0 chain—reissued via a community proposal following the May 2022 LUNA crash. The 2022 UST depegging triggered a catastrophic LUNA price drop: from $80 to near zero, with a $45 billion market cap loss, marking one of crypto’s largest-ever collapses. SBF, FTX and Alameda Research’s founder, faces accusations of manipulating this collapse. Recently, SBF has spoken out frequently after his cellmate received a pardon, stoking speculation about his own potential pardon.
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Vitalik: The Need for a Reliable and Trustless On-Chain Gas Futures Market

On December 6, Ethereum co-founder Vitalik Buterin noted that the ecosystem needs a reliable, trustless on-chain gas futures market—akin to a prediction market tied to the BASEFEE. While gas fees are currently low, many are wary of future trends, questioning whether raising the gas limit, BAL, ePBS, and follow-on upgrades like ZK-EVM can keep fees manageable. Vitalik argues such a futures market would help: users could gain clear insight into others’ expectations for gas fees, and even hedge against future price swings by prepaying for a set amount of gas over a specific time window.

13 minutes ago

Next Week Outlook: Fed Rate Cut a 'Done Deal,' Hawk-Dove Debate in the Spotlight

December 6: Next week’s final FOMC meeting of the year is drawing intense focus, with the hawk-dove debate front and center. The Fed will announce its interest rate decision at 3:00 AM UTC+8 Thursday (14:00 ET Wednesday), followed by Chair Jerome Powell’s monetary policy press conference at 3:30 AM UTC+8 Thursday (14:30 ET Wednesday). Per CME FedWatch, markets price an 84% probability of a 25-basis-point rate cut next week. The meeting is expected to be one of the most contentious in recent years, with investors watching for policymakers’ divergent views on rate cut outlooks and Powell’s signals on future policy direction. Of the 12 FOMC voting members: - 5 oppose or are skeptical of further monetary easing - 3 support a rate cut No FOMC meeting since 2019 has seen three or more dissenting votes, making dissenters a key watchpoint. ### Key Macro Data & Events - **Tuesday**: Reserve Bank of Australia (RBA) rate decision; RBA Governor Philip Lowe press conference.

13 minutes ago

Two Whale Traders Take Large Positions Betting on Bitcoin's Price Movement, Acting as Long and Short Counterparties

December 6 – Per LookOnChain monitoring, two Bitcoin whales executed opposing leveraged trades: - Whale address 0x50b3 opened a 20x leveraged long position with a $27.5 million position value, entry price of $89,642.7, and liquidation price of $83,385. - Simultaneously, whale address 0x9311 opened a 40x leveraged short position with a $20 million position value, entry price of $89,502.7, and liquidation price of $95,114.

13 minutes ago

PIPPIN's market capitalization briefly surpassed $330 million, with a 24-hour price change of 45.87%.

On December 6th, per data from GMGN (via this link), Solana-based meme coin PIPPIN briefly topped a $3.3 billion market cap. It now holds a market cap of $2.5 billion, with a 24-hour price surge of 45.87% and a 24-hour trading volume of $29.5 million.


BlockBeats reminds users that meme coins often lack practical use cases, are highly volatile, and investors should exercise caution when evaluating them.

13 minutes ago

A whale purchased 16.35 million PIPPIN tokens in the last 3 days, with a unrealized gain of over $740,000 in position value.

On December 6, OnchainLens data shows that over the past three days, a crypto whale has spent 23,736 SOL (valued at approximately $3.3 million) to purchase 16.35 million PIPPIN tokens at an average price of $0.20. The holding currently has an unrealized gain of more than $740,000.

13 minutes ago

Meme Token Franklin's Market Cap Briefly Surpasses $13 Million, with a 404% 24-hour Price Increase

On December 6, per data from GMGN (via the link [https://t.me/gmgnaibot?start=i_m4TE56o8]), the Solana-based meme token Franklin—tied to the turtle protagonist of the classic children’s cartoon *Franklin and Friends*—briefly topped a $13 million market cap. As of press time, its market cap stands at $11 million, with a 404% 24-hour price surge and $11.3 million in 24-hour trading volume. BlockBeats notes that meme coins often lack real-world utility, see extreme price volatility, and should be approached with caution when investing.

13 minutes ago

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