According to Huoxun Finance on December 20th, based on monitoring by on-chain analyst Ai Yi, two addresses belonging to the same individual/organization purchased 5678 ETH on-chain at an average price of $2985.7 in the past hour, spending a total of $16.95 million, initiating a new round of position building. In the latest wave from December 3rd to December 12th, he also invested $14.97 million, ultimately making a profit of $137,000.

Odaily Planet Daily reports that Pi Network has announced a major update to its DEX and AMM liquidity pools on its testnet, aimed at improving usability and transparency. Key updates include: an improved user interface design, the adoption of Pi-based trading pairs to organize liquidity, the introduction of domain verification as a token credibility metric, and a token ranking system based on liquidity rather than market capitalization. The new Pi centralized pairing mechanism concentrates liquidity into fewer but more active pools, reducing price volatility and slippage. In addition, Pi Network is launching a holiday campaign to support the ecosystem through a community shopping initiative, encouraging users to make purchases using Pi both online and offline, creating holiday shopping opportunities for merchants and users.

According to an article published on Odaily, Ash Liew, founder of Memento Research and head of investment at Signum Capital, stated that the firm tracked 118 token generation events (TGEs) in 2025 and compared their current FDV with their initial offering valuation. The results showed that 84.7% (100/118) of the projects have a current FDV lower than their TGE valuation, meaning that approximately 4 out of 5 projects will experience a price drop after launch; the median price drop was 71% (67% in MC) compared to the initial offering valuation; only 15% of the tokens are still showing an increase compared to their TGE.

According to Odaily Planet Daily, citing on-chain researcher Specter, the address that lost 50 million USDT to a phishing attack yesterday left a message on-chain for the attackers, stating that a formal case has been opened. With the assistance of law enforcement agencies, cybersecurity organizations, and multiple blockchain protocols, a large amount of actionable intelligence has been collected regarding the attackers' activities. The wallet address controlled by the attackers is now under 24/7 monitoring. The attackers have been asked to return 98% of the stolen assets to a designated address within 48 hours. If they do so, $1 million will be reserved as a white-hat bounty to reward those who discover and disclose vulnerabilities; however, this offer is contingent on the attackers' full and timely cooperation. Once the funds are returned, the victim will consider the matter closed and will not take further action. If they refuse to cooperate, the case will be escalated through legal and international law enforcement channels to identify the attackers and pursue criminal and civil liability.

According to Huoxun Finance on December 20th, based on on-chain data monitoring, Huang Licheng (aka "Brother Machi") has not opened any short positions in the past month, and has made a total of 27 long trades, of which 15 were profitable and 12 were unprofitable, with a win rate of 55.56% and a net loss of $3.515 million. He currently holds: a 25x leveraged long position in Ethereum, with a position of 5250 ETH and an average entry price of approximately $2942; a 40x leveraged long position in Bitcoin, with a position of 11 BTC and an average entry price of approximately $88321; and a 10x leveraged long position in HYPE, with a position of 38888 HYPE and an average entry price of approximately $24.