Market dynamics on December 10: BTC and MicroStrategy plummet, US stocks decline, US BTC strategic reserve plan is obstructed

I. Market Dynamics

1. BTC plummets, altcoins crash. U.S. efforts to establish a BTC strategic reserve face obstacles.

2. U.S. stocks fall, MicroStrategy experiences a sharp decline.

II. Market Focus

1. The newly launched L2, MOVE, debuts on exchanges and performs beyond expectations, approaching the market capitalization of ARB and OP, becoming the third largest L2. MOVE is an ETH L2 written in the MOVE language.

2. MEME tokens like BABYDOGE and PEPE rise. Re-listing on major valuation VCs could potentially reignite speculative trading in MEME tokens.

3. Stablecoins USUAL and ENA appreciate. USUAL, backed by short-term U.S. Treasury bills as RWA, sees rapid TVL growth. However, ENA loses market share to a new stablecoin launched by competing exchanges.

4. The gaming sector with tokens like CATI, BNX, TLM, and SAGA leads the declines. Being the last to experience a catch-up rally indicates poor fundamentals.