[Alliance DAO Co-Founder: L1 Blockchain Tokens Lack Moats, Difficult to Hold Long-Term] On November 28, Alliance DAO co-founder QwQiao stated on social media that the reason L1 blockchain tokens are difficult to hold long-term is not due to their high price-to-earnings ratio, but rather their lack of moats, which makes them easily commoditized and unable to capture meaningful value. He pointed out that users can easily transfer across chains, most application developers can quickly migrate chains, and the cost of launching a new chain is relatively low. He believes the only way for chains to strengthen their moats is through vertical integration and control of the application layer. For example, chains like Solana, Base, and Hyperliquid are already advancing in this direction. QwQiao expressed optimism about the exponential growth of the crypto industry but is more inclined to bet on the application layer.

[Spot Gold Rises Over $10 in the Short Term, Breaking Through $4180/oz] Spot gold has risen over $10 in the short term, with the price breaking through $4180/oz.

[127.5 BTC Transferred from Anonymous Address, 25 BTC Sent to Bitstamp] According to Arkham data, at 08:11 (UTC+8), 127.5 BTC (approximately $11.63 million) was transferred from an anonymous address (starting with bc1qfyrf...) to multiple addresses, including another anonymous address (starting with 3G5EsqY...) and Bitstamp, with Bitstamp receiving 25 BTC.

[Bitfury Invests $12 Million in Decentralized AI Computing Network Gonka.ai] Crypto mining company Bitfury Group has made a strategic investment of $12 million in the decentralized AI computing network Gonka.ai, subscribing to 20 million GNK tokens at a price of $0.60 per token. Gonka.ai, founded by the Lieberman brothers, is dedicated to building a blockchain-based distributed GPU computing power marketplace. This marks the first public investment from Bitfury's $1 billion Ethical AI Fund. Gonka.ai previously completed an $18 million funding round in 2023, with investors including Coatue Management, Slow Ventures, and other institutions. Early contributors also include well-known industry entities such as 6 Block and Hard Yaka.

[High-Level Accumulation of WBTC and ETH by a Whale, Selling 350 WBTC in a Week] On-chain data shows that a whale, who accumulated WBTC and ETH at high levels through circular loans, suffered a $25.29 million loss after liquidating 18,517 ETH. Subsequently, the whale continued to sell WBTC. Over the past week, the whale sold 350 WBTC at an average price of $87,732, exchanging them for 30.7 million USDT, resulting in a $10.16 million loss. The remaining 1,210 WBTC held by the whale currently show an unrealized loss of $30.9 million.