Weekly Preview | Approximately $23 billion in Bitcoin Options will expire on December 26; Aster launches the fifth phase Airdrop activity.

News Preview:

• Aster will launch the fifth phase of airdrop on December 22, distributing 1.2% of the total supply;
• MetaPlanet will hold an extraordinary shareholders' meeting on December 22 to discuss important proposals regarding the future issuance of preferred shares;
• The U.S. Bureau of Economic Analysis will release the third quarter GDP data on December 23;
• Due to the Christmas holiday in the United States, the US stock market will be closed for one day on December 25 (Wednesday);
• Plasma (XPL) will unlock approximately 88.89 million tokens at 8 PM Beijing time on December 25, with a circulation ratio of 4.5%, valued at approximately $11.7 million;
• Approximately $23 billion in Bitcoin options will expire on December 26, potentially exacerbating already high volatility.

December 22

Project Updates:

Binance Wallet will launch the Bitway (BTW) Pre-TGE and airdrop incentive program on December 22

According to Binance Wallet, Bitway ($BTW) will launch a Pre-TGE subscription and Booster Program airdrop event on December 22, with a total of 300 million BTW (3% of total supply) to be used for multi-phase task rewards. Participants must hold Binance Alpha points, and the reward portion will have a lock-up period. The Pre-TGE phase allows users to subscribe to BTW using BNB, with a limit of 3 BNB per user; tokens cannot be traded immediately, and the specific release and unlocking time will be announced by the project party.

Aster will launch the fifth phase of the airdrop on December 22, distributing 1.2% of the total supply.

Aster announced on platform X that on December 22, Aster will enter the fifth phase of the airdrop, named “Crystal”, marking the airdrop with the lowest emission so far. The fifth phase will last for 6 weeks (from December 22, 2025, to February 1, 2026), with a distribution ratio of 1.2% of the total supply (approximately 96 million ASTER), and an optional 3-month vesting period.

The MetaPlanet temporary shareholder meeting will be held on December 22, and the preferred stock issuance proposal is pending review.

Simon Gerovich, a director of the Japanese listed company MetaPlanet, announced that MetaPlanet will hold an extraordinary general meeting of shareholders on December 22, 2025 (Monday) to discuss important proposals regarding the future issuance of preferred shares, which will have a critical impact on the company's medium and long-term strategy. Shareholders can exercise their voting rights through the online platform, and the deadline for exercising rights is December 19 (Friday) at 18:00 (Japan time).

Espresso will open airdrop registration on December 22, and this airdrop will cover millions of addresses

The blockchain infrastructure Espresso will open airdrop registration on December 22, covering millions of addresses. So far, the official has released a total of 22 airdrop eligibility paths. These include Espresso hackathon participants, Caffeinated creators, POAP holders from online and offline events, and users from partner chains (ApeChain, RARI Chain, Arbitrum, Celo, etc.).

In addition, the official will launch the second round of the Bantr event. Bantr will continue to track the engagement and on-chain activities related to Espresso on the English, Korean, and Chinese leaderboards, with a particular focus on the phase after December 1. The top 100 participants across the three major leaderboards will share a mysterious allocation of ESP tokens, which can be claimed after the TGE (the start date for the claiming portal has not yet been announced).

Token Unlock:

MBG By Multibank Group (MBG) will unlock approximately 15.84 million tokens at 8 PM Beijing time on December 22, with a circulation ratio of 8.42%, valued at approximately 8.1 million USD.

December 23

Macroeconomics:

The Bureau of Economic Analysis will release the third quarter GDP data on December 23

According to Jinshi reports, the U.S. Bureau of Economic Analysis will release the U.S. third quarter GDP data on December 23.

Exchange:

Binance will remove multiple leveraged trading pairs such as DOT/FDUSD, ENA/FDUSD on December 23

According to the official announcement, Binance leverage will remove the following leveraged trading pairs on December 23, 2025, at 14:00 (UTC+8):

Full Margin Leverage Trading Pairs: DOT/FDUSD, ENA/FDUSD, SEI/FDUSD, FIL/FDUSD, BONK/FDUSD, ZK/FDUSD, ETC/FDUSD, WLD/FDUSD, OP/FDUSD, NEAR/FDUSD, WIF/FDUSD, APT/FDUSD, DYDX/FDUSD, TIA/FDUSD, UNI/FDUSD

Isolated Margin Trading Pairs: DOT/FDUSD, ENA/FDUSD, SEI/FDUSD, FIL/FDUSD, BONK/FDUSD, ZK/FDUSD, ETC/FDUSD, WLD/FDUSD, OP/FDUSD, NEAR/FDUSD, WIF/FDUSD, DYDX/FDUSD, TIA/FDUSD

Token Unlock:

SOON (SOON) will unlock approximately 21.88 million tokens at 4:30 PM Beijing time on December 23, with a circulation ratio of 5.97%, worth approximately 8 million USD.

Undeads Games (UDS) will unlock approximately 2.15 million tokens at 8:00 AM Beijing time on December 23, with a circulation ratio of 1.46%, valued at around $5.2 million.

December 24

Exchange:

The US stock market will open as scheduled on December 24 and 26

December 25 (Wednesday) is the Christmas holiday in the United States, and the U.S. stock market will be closed for one day. The Nasdaq and the New York Stock Exchange have stated that the U.S. stock market will open as scheduled on December 24 and December 26. Prior to this, Trump signed an executive order announcing that the federal government will be closed on December 24 and 26, just before and after Christmas.

December 25

Project Updates:

Irys: The IRYS token airdrop claim will end on December 25th

The programmable data chain Irys announced on platform X that the IRYS token airdrop claiming link is now live, with a claiming period from 20:00 Beijing time on November 25 to 20:00 on December 25, and the snapshot time is November 11. Additionally, Irys stated that the top 10,000 participants on Galxe will receive an airdrop; all Genesis NFT holders who completed the airdrop registration beforehand will be eligible for the airdrop.

The decentralized AI computing protocol gensyn** will announce the token distribution details on December 25th**

The decentralized AI computing protocol gensyn completed its token public offering on December 21, with a total of 7,412 participants investing approximately 16.14 million USD. The FDV at the completion of the public offering was 473 million USD, with a token price of 0.0473 USD. The Gensyn Foundation stated that details of the token distribution will be announced on December 25.

Governance Voting:

Uniswap submits UNIfication proposal: plans to burn 100 million UNI, voting ends on December 25

Uniswap founder Hayden Adams announced that the UNIfication proposal has been submitted for final governance voting, which will start at 11:30 Beijing time on December 20 and end on December 25. If the proposal passes, after a 2-day lock-up period, Uniswap Labs will burn 100 million UNI tokens and enable the fee switch mechanism for versions v2 and v3 on the Ethereum mainnet, starting the burn of UNI and Unichain fees.

In addition, the proposal includes a Protocol Fee Discount Auction (PFDA) mechanism to optimize liquidity provider (LP) returns, the use of aggregator hook functionality to expand Uniswap v4, the migration and permanent locking of Unisocks liquidity, and the integration of the Uniswap Foundation's ecosystem support team into Uniswap Labs. The proposal also plans to establish an annual growth budget of 20 million UNI for protocol development and ecosystem expansion.

Token Unlock:

Humanity (H) will unlock approximately 105 million tokens at 8 AM Beijing time on December 25, with a circulation ratio of 4.79%, valued at approximately 14.8 million USD.

Plasma (XPL) will unlock approximately 88.89 million tokens at 8 PM Beijing time on December 25, with a circulation ratio of 4.5%, worth approximately $11.7 million.

December 26

Macroeconomics:

Approximately $23 billion in Bitcoin options will expire on December 26, potentially exacerbating the already high volatility

According to Bloomberg, the options market shows that Bitcoin is under significant pressure as it enters the final weeks of 2025, with approximately $23 billion in contracts set to expire next Friday, which could exacerbate the already high volatility. This amount accounts for more than half of the total open contracts on the Deribit platform. Nick Forster, founder of Derive.xyz, stated: “The positions in Bitcoin remain clearly bearish. The 30-day volatility has risen back to around 45%, while the skew hovers around -5%. The longer-term skew is also anchored at around -5%, indicating that traders are pricing in continued downside risks for the first and second quarters due to ongoing selling pressure from previously inactive wallets that is suppressing spot prices.”

The positions around the contract expiration date of December 26 reflect this divergence. Call options are concentrated at strike prices of $100,000 and $120,000, indicating that the market still holds an optimistic sentiment for a year-end rebound. However, put options have recently dominated, with a large accumulation of put option exposure at the $85,000 strike price. Additionally, traders expect the market to reposition around two catalysts: first, hedging before the MSCI makes its decision on January 15, which could potentially exclude companies holding more than 50% of crypto assets from its index; second, a resurgence of call option overwriting flows.

December 26

Project Updates:

“MEET48 2026 AI Entertainment UGC Platform and Web3.0 Development Strategy Conference” will be held in Seoul on December 26.

On December 26, 2025, from 1:30 to 6:00 PM, the world's first idol fan economy ecosystem MEET48, built on a Web3 architecture and deeply integrated with AI and UGC, will co-host the “MEET48 2026 AI Entertainment UGC Platform and Web3.0 Development Strategy Launch Conference” in Seoul, South Korea, together with AIGC digital content creator L1 eco-chain POChain, the AIUGC virtual idol music and dance training simulation game AuditionsGO developed by the original operating market team of “Audition”, Hash Global, Web3 Entertainment Alliance, and The Fan.

December 27

Governance Voting:

LayerZero community will complete the third fee switch vote on December 27th

LayerZero stated in its official blog that holders will participate in the third fee switch vote at 8:00 AM Beijing time on December 20. This vote is held every six months and aims to allow holders to decide whether to activate the protocol fee switch. If the vote passes, the protocol fees will be used to buy back and burn ZRO.

The voting window is from 8:00 AM Beijing time on December 20 to 8:00 AM on December 27. The quorum requirement for voting is 40.59% of the circulating ZRO, which means that 230 million ZRO are eligible to vote. If the quorum is met, more than 50% of the votes in favor are required for it to take effect. LayerZeroLabs, LayerZero Foundation, and related parties will abstain.