Bitget Research Institute: The market crash shows no signs of rebounding, Bitgets third Launchpool in two weeks keeps BGB price strong

In the past 24 hours, many new popular currencies and topics have appeared in the market, which may be the next opportunity to make money, including:

• The sectors with strong wealth-creating effects are: BGB;

• The most popular tokens and topics searched by users are: CARV, CryptoKitties, TON, etc.

• Potential airdrop opportunities include: Fuel, Story Protocol;

Data statistics time: September 2, 2024 4: 00 (UTC + 0)

1. Market environment

It is basically certain that the Federal Reserve will start cutting interest rates in September: CME Fed Watch data shows that the probability of the Federal Reserve cutting interest rates by 25 basis points in September is 67%, and the probability of cutting interest rates by 50 basis points is 33%.

BTC led to a sharp drop in the overall market. The BTC spot ETF had a net outflow of $277 million last week, and the ETH spot ETF had a net outflow of $12.6 million last week. The gas fee on the ETH chain continued to be lower than 1 gwei, and the ETH/BTC exchange rate has fallen to 0.042. Market sentiment and on-chain activity have fallen to the freezing point. At present, there is no sign of a rebound in the market in the short term.

Bitget opened three Launchpools in two weeks. BGB became the fifth best performing token among the top 100 tokens by market capitalization in the past seven days of market decline, excluding stablecoins (down 4.69% in seven days, better than BTCs 10.8%).

2. Wealth-making sector

1) The sectors that need to be focused on in the future: BGB

main reason:

• Bitget launched three Launchpool projects in two weeks: Orderly Network (ORDER), Counterfire Economic Coin (CEC), and MetaCene (MAK), which continued to bring holding income to BGB Holders during the market decline and kept the price of BGB strong.

• The fundamentals of the Bitget platform continue to strengthen. Currently, the monthly traffic of the Bitget website has increased by +284% compared with a year ago. On August 19, it was reported that the ranking of Bitget App in Apples iOS App Store has risen significantly. It has now entered the top ten of the financial list in 11 countries, including second in Nigeria, sixth in Ukraine, and eighth in Belarus.

Factors affecting the market outlook:

• Whether Bitget can continue to provide benefits such as Launchpool to BGB Holders in the coming months will be the most direct driving factor for the increase in BGB prices.

• The Bitget platforms continued brand development and user growth remain the biggest moat to stabilize BGBs price.

3. User Hot Searches

1) Popular Dapps

CARV:

CARV is a game-focused ID infrastructure that aims to establish a user-owned gaming identity that enables achievement display, friend and game discovery, direct monetization, and can be taken anywhere. In the past week, the number of independent active wallets of this Dapp has reached more than 4.45 million. Recently, the project has been active: On April 26, CARV announced the completion of a $10 million Series A financing; on May 31, Animoca Brands announced a strategic investment in CARV and became its node operator.

2) Twitter

CryptoKitties:

The long-established NFT project CryptoKitties has launched a new project, egg. The NFT series was recently minted at a price of 0.008 ETH. A total of 3,134 NFTs were minted during the minting period. The series floor price is now 0.1121 ETH, with a 24-hour increase of 261.67%.

3) Google Search Region

From a global perspective:

Why is crashing:

The crypto market has generally fallen recently, and market investors are searching for reasons related to the decline. The current reasons for the market decline are mainly due to lack of liquidity and lack of hot spots in the market. The market may show significant improvement after the Federal Reserves interest rate increase or the US presidential election, and may continue to fluctuate and fall in the short term.

From the hot searches in each region:

(1) Asia and Africa: The attention is scattered, with Blum, Solana, etc. The common searches are about why they often fall, the overall market value of the crypto market, and the fear and greed index.

(2) English area: Search results in the English area include ONDO, PEPE, TON, FLOKI and other projects that have certain support in the recent decline, which shows that users in the English area have a certain interest in assets that have support in the decline.

Potential Airdrop Opportunities

Fuel

Fuel is a UTXO-based modular execution layer that brings globally accessible scale to Ethereum. As a modular execution layer, Fuel can achieve global throughput in a way that monolithic chains cannot, while inheriting the security of Ethereum.

In September 2022, Fuel Labs successfully raised $80 million in a round of financing led by Blockchain Capital and Stratos Technologies. Multiple leading investment institutions invested, such as CoinFund, Bain Capital Crypto and TRGC.

Participation method: You can directly deposit the tokens accepted by Fuel into the points you have earned. Participants can earn 1.5 points per day for every $1 they deposit in the following assets:

Points: ETH, WET, eETH, rsETH, rETH, wbETH, USDT, USDC, USDe, sUSDe and stETH; From July 8th to 22nd, depositing ezETH will earn you 3 points per day.

Story Protocol

Story Protocol is an IP management protocol. The project aims to change the way humans record history by leveraging blockchain technology, recording content and IP on various blockchains and connecting them.

The project recently completed a $80 million Series B financing led by a16z Crypto, with other participating institutions including Foresight Ventures, Hashed, etc. As of now, PIP Labs, the open team behind Story Protocol, has raised $140 million, with a valuation of $2.25 billion. The market attention is very high, and it may become a leading project in the new track of blockchain.

Specific participation method: Story Protocol has cooperated with multiple projects, including Colormp, etc. Users can participate in the Launch NFT casting of these projects, and continue to maintain project progress and complete the corresponding tasks, and may obtain future IP token airdrops.

Original link: https://www.bitget.fit/zh-CN/research/articles/12560603815164

【Disclaimer】The market is risky, so be cautious when investing. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions in this article are suitable for their specific circumstances. Investing based on this information is at your own risk.