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Jinse Finance reported that the perpetual contract trading platform Synthetix is returning to the Ethereum mainnet. Its founder stated that after years of network congestion issues forced derivatives trading activities to migrate to other networks, Ethereum is now fully capable of supporting high-frequency financial applications. Synthetix founder Kain Warwick said in an interview on Wednesday: "When perpetual contract DEXs started to emerge, the Ethereum mainnet was too congested, but now we can start over." He also added: "It's somewhat incredible that there has never really been a true perpetual contract DEX on the mainnet." He explained that after perpetual contract DEXs migrated away, the decline in demand combined with Ethereum's ongoing scalability improvements has made the Ethereum Layer 1 network viable again. "This is absolutely the best place to run a perpetual contract DEX," he said.

BlockBeats News, December 19, the crypto market suffered another sharp drop overnight. According to data from a certain exchange, bitcoin fell below $85,000, reaching a low of $84,450, and is now quoted at $85,382, down 0.68% in 24 hours. Ethereum briefly fell below $2,800, now quoted at $2,825, down 0.02% in 24 hours. SOL fell below $120, down 2.81% in 24 hours. The total market capitalization of cryptocurrencies fell below the $3 trillion mark, now reported at $296 million, down 1.1% in 24 hours. Some altcoins led the decline, including: PUMP is now quoted at $0.00186, down 11.41% in 24 hours; GIGGLE is now quoted at $0.00186, down 11.41% in 24 hours; AXL is now quoted at $0.086, down 9.3% in 24 hours; DOLO is now quoted at $0.034, down 8.7% in 24 hours; VELODROME is now quoted at $0.0197, down 8.8% in 24 hours. In the US stock market, the three major indices all closed higher. The Dow Jones closed up 0.14%, the S&P 500 rose 0.79%, and the Nasdaq Composite Index rose 1.38%. Nvidia rose nearly 2%, and Tesla rose more than 3%. Trump Media & Technology Group surged 41.9%. According to market news yesterday, Trump Media & Technology Group (DJT.O) will merge with TAE TECHNOLOGIES in an all-stock transaction, expected to be completed by mid-2026. After the merger, the company is expected to select a site and begin construction of its first utility-scale nuclear fusion power plant in 2026. US crypto concept stocks saw mixed performance. Ethereum crypto treasury (DAT) companies mostly fell, including: Strategy (MSTR) fell 1.33%; Circle (CRCL) rose 2.38%; A certain exchange (COIN) fell 2.04%; MARA Holdings (MARA) fell 2.4%; Riot Platforms (RIOT) rose 3.24%; BitMine Immersion (BMNR) fell 3%; SharpLink Gaming (SBET) fell 2.7%.

According to Jinse Finance, the ether.fi Foundation announced on the X platform that from December 15 to 17, the ether.fi Foundation spent 290,000 USDT to repurchase 379,692 ETHFI tokens.