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Bitget Daily Morning News | Fan token sector rises strongly, on-chain Meme heat remains high [October 8th]

远山洞见2024/10/08 01:27

By:远山洞见

Review of Yesterday's Market

1. Market trend

BTC is in a short-term range oscillation, the fan token sector is rising strongly, and the on-chain Meme heat remains high

The three major indexes of the US stock market fell more than 1% during the day, and China Concepts Stock had a V-shaped reversal during the day, with the 10-year US Treasury yield rising above 4%.

In the past 24 hours, the dominance of Bitcoin has further increased, with Bitcoin's market value accounting for 54.29%, and the total market value of the global cryptocurrency market has decreased by 1.15%.

Market capital outflows have increased significantly, with a net outflow of $219 million in the past 24 hours

2. Market hotspots

The judge approved FTX's bankruptcy reorganization plan to initiate the process of distributing funds to creditors, FTX 2.0 restart rumors fell through , and investors lacked interest.

Activity on the Ethereum chain is active, Gas rises, Vitalik sells 10 billion MOODENG again, and the Ethereum mainnet MOODENG rises sharply.

SUI short-term strong, the mother chain began to speculate Meme, while the market Meme token rose to varying degrees, the total market value once exceeded 54.20 billion dollars.

Fan token ecology overall lead, OG, LAZIO, SANTO and other strong pull up , pay attention to short-term fluctuations.

The probability of the Fed cutting interest rates by 25 basis points in November is 86.3%, and the probability of not cutting interest rates has risen to 13.7%. JPMorgan Chase said that the cryptocurrency market is currently in a wait-and-see state, waiting for clearer macroeconomic or structural catalysts

3. Twiter Hotspots:

0xWizard: Analyzing the latest market trends of community autonomous meme leader $Neiro

KOL @0xcryptowizard referred to $Neiro as the leader of community autonomous memes and analyzed its market trends, proposing the following viewpoints:

Related to the BTC ecosystem: Neiro is similar to Ordi, the leader of the BTC ecosystem meme in October last year, and the current on-chain community autonomous meme heat is feeding back to Neiro, with the same logic.

Market rebound point: It was previously pointed out that Neiro had bottomed out during the recent market correction.

On-chain heat and capital flow: Emphasizing the rise of Neiro, while the on-chain heat continues to increase, which in turn attracts a large amount of funds into Neiro, the logic is simple and clear.

In addition, @0xcryptowizard previously cited other reasons for supporting Neiro in the market, including Vitalik's interactive support, Justin Sun's community support, and Binance's exceptional listing of Neiro with a very low market value, further consolidating Neiro's position as the leader of community autonomous meme tokens.

Original link: https://x.com/0xcryptowizard/status/1843073657675112909

0xKing__: On-chain project transaction logic analysis

KOL @0xKing__ conducted an in-depth analysis of the transaction logic of on-chain projects and proposed the following core viewpoints:

The first wave: IPO - PVP: The market maker raises the increase through Uniswap V2 in the fair launch mode, triggering market FOMO sentiment, triggering automatic trading and limit-loss orders.

Concept recognition and speed: The key to successful entry is to quickly identify concepts and enter in a timely manner, and then obtain excess returns.

Second Wave: Secondary Launch: Secondary launches are usually triggered by concept upgrades or large-scale DCA operations. 90% of tokens no longer have a second wave, so caution is needed.

The third wave: Shangsuo: There are few projects that have gone public, and the listings are mainly concentrated on platforms such as BN, OK, and Coinbase. The key is to monitor exchange announcements and updates.

At the same time, @0xKing__ recommends using @CryptoAI's smart vault rankings to better capture market opportunities.

Original link: https://x.com/0xKing__/status/1843229164591362308

Major news and project dynamics

Proposal vote

The voting on the proposal to add CETUS to the dYdX Chain ended at 5:35 UTC on October 8th.

The ARFC proposal for the Aave community to add sUSDe, USDe, and weETH to Aave v3 on ZKsync will end on October 8th.

Project progress

Swell Network will conduct its first airdrop on October 8th, distributing the first round of airdrops based on users' holdings of Black Pearl. The first round will allocate 2% of SWELL supply to Black Pearl holders, followed by 1% each time.

HackaTRON Season 7 application submission is open until October 8th. The pre-selection period is from October 9th to 23rd, the judging and community voting period is from October 24th to 31st, and the winners will be announced on November 13th.

The 10th Radar Global Online Hackathon, organized by the Solana Foundation, will end at 23:00 UTC on October 8th.

Token unlock

Tensor (TNSR) will unlock about $79,300 worth of tokens, representing 0.18% of the circulation.

Pendle (PENDLE) will unlock about $120,100 worth of tokens, representing 0.02% of the circulation.

[Institutional perspective]

- JPMorgan Chase

Geopolitical uncertainty may prompt investors to turn to Bitcoin and gold

Original link: https://www.bitget.fit/zh-CN/news/detail/12560604249834

- New York Digital Investment Group

Bitcoin is still the best-performing asset so far this year, and Q4 is expected to see a bullish market

Original link: https://www.bitget.fit/zh-CN/news/detail/12560604252401

-10x Research

Firmly bullish, bitcoin is expected to reach $70,000 in the next two weeks and a new high at the end of October

Original link: https://www.bitget.fit/zh-CN/news/detail/12560604242821

[Good article recommendation]

Cryptocurrency in the US: From Elections to Wall Street to Daily Incorporation

During the National Day holiday in 2024, the author did not fully summarize the use cases of cryptocurrency in various fields in the US. Let's take a look at the penetration of cryptocurrency in US social life.

Link: https://www.bitget.fit/zh-CN/news/detail/12560604250517

October Crypto Market Outlook: Chain Abstraction, Layer 1 War, AI, Stablecoin Competition, and DeFi

The author claims that market speculation is generally divided into two modes, one is artificial narrative, and the other is the brewing, emergence, and outbreak of innovation, and lists the October outlook for multiple sectors.

Link: https://www.bitget.fit/zh-CN/news/detail/12560604252337

[Daily Science Popularization]

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Margin type

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Product advantages

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Bitget Daily Morning News | Fan token sector rises strongly, on-chain Meme heat remains high [October 8th]

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