Microsoft Eyes Bitcoin, Polygon Tackles Interoperability, and Major Token Launches
ToE's Weekly Highlights #85
$FJO sales getting filled in seconds, site crashed
$PENGU launching on Solana made Pudgy the top 2 NFT collection
$BTC touches 100k several times $ETH breaks 4k
The last time alt season ran for 88 days👇🧵
Mantle 2024: Breakthrough Year in Growth and Innovation
2024 marked Mantle’s evolution from an L2 chain to the foundation for builders and users driving decentralized innovation. They shipped new products and updates, and Mantle has redefined participation in Web3 ecosystems.
Here are some outstanding metrics:
• $1.72B TVL on $cmETH: Reflecting strong adoption
• $1.17B TVL for $FBTC: further solidifying Mantle's role as a leader in the BTCFi space.
As of December 5th, these results have been complemented by the performance of $MNT and $COOK:
As of December 5th, lets review the performance of $MNT and $COOK:
• $MNT @ $1.13: For network governance
• $COOK @ $0.030: Governance token of mETH Protocol, one of the largest liquid staking and restaking protocols in the Ethereum ecosystem.
Looking ahead:
With Bybit integrating Mantle’s yield-bearing assets, capital efficiency will soar, further solidifying Mantle’s leadership.
Catalyst for the Week
1. Microsoft’s Bitcoin Decision (Dec. 10)
Microsoft shareholders will vote on whether the company should buy Bitcoin. Polymarket suggests a 14% chance of approval.
2. Frax Finance Announcements (This Month)
Frax Finance is set to unveil a major token upgrade and its new roadmap, teased by the founder in their Telegram group.
3. Agglayer Testnet Release (Dec. 9)
Polygon’s Agglayer v0.2 testnet goes live, aiming to tackle blockchain fragmentation with seamless interoperability.
4. Sonic Mainnet Updates (Soon)
Sonic Labs (formerly Fantom) has started mainnet app deployment, with a public launch date expected in the coming days.
5. US CPI Data (Dec. 11)
Critical macroeconomic event—the US CPI data release could set the tone for crypto market movements.
6. Puffpaw’s Puff Pass Sale (Dec. 9-13)
Puffpaw, Berachain’s first DePIN project, launches its NFT mint to help people quit smoking with tokenized incentives.
Use referral code to enjoy 10% discount
7. APT Token Unlock (Dec. 11)
A $165M unlock (2.1% of supply) will distribute $APT tokens, primarily to early investors and core contributors.
8. Treasure DAO Announcement (Dec. 11)
Treasure DAO will make a major announcement, likely revealing its zkSync migration.
9. Major Token Launches
Move (Dec. 9): The first Move-based Ethereum L2 network launches.
Magic Eden (Dec. 10): The NFT marketplace rolls out its token.
Fjord Sales
The November Report
Bitcoin Breaks Out: The Bull is Back
Bitcoin ($BTC) rode the wave of Trump’s election odds, breaking $70K on election night and reaching a new all-time high of $93K by mid-month. It closed November at an impressive $96K, delivering a +37% monthly gain.
Memecoins Steal the Spotlight
November was memecoin mania:
$DOGE surged +30% pre-election and doubled post-election to hit $0.42, fueled by Trump naming Elon Musk and Vivek Ramaswamy heads of the "D.O.G.E. Department."
$PEPE and $WIF listings on Coinbase brought sharp spikes but marked a short-term top for major memecoins.
$PNUT became an unlikely star after an Elon tweet propelled it to a $2.4B market cap.
Memecoins brought hype, but the market moved fast—only the strongest narratives sustained momentum.
Legacy Tokens Lead the Charge
2017 coins dominated, with retail fervor breathing new life into the old guard:
$XRP: +450% to $160B MC
$ADA: +290% to $46B MC
$XLM: +600% to $19B MC
$HBAR and $ALGO joined the party, adding billions in market cap.
What’s driving this? Retail FOMO, bullish regulatory narratives, and renewed relevance in the Trump era. Legacy is proving to be a key driver of the bull narrative.
Emerging Narratives Signal the Future
New sectors are forming, and November spotlighted two major themes:
Decentralized Science (DeSci):
Coins like $VITA (6x) and $GENOME (7x) gained traction, propelled by interest from Brian Armstrong and Vitalik.AI Agent Craze:
Tokens like $VIRTUAL (+430%) and $AI16Z (+20x) captured the intersection of AI and blockchain, showcasing massive growth potential.