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Bitget Research: Bitcoin Breaks Through US$36,000, SEC Chairman Hints at Possible FTX Reboot
Bitget Research
2023/11/09
the past 24 hours, there have been many new popular tokens and topics emerging in the market, and perhaps they could be the next market spotlight.
In Summary:
1.Popular Tokens:
RATS (Token) - This is a memecoin on the BRC-20
blockchain representing rats. Influenced by the recent surge of capital inflow into the sector, the token has seen a sharp increase in on- XCNUSDT">
chain trading volume, with a 7-day trading volume of 226 BTC (approximately US$8.13 million). The price has pulled back, and the current market cap is 33 BTC.
MAPO (Token) - A token deployed on the BRC-20 by MapProtocol, which aims to develop a Layer 2 protocol for BTC rollups. Yesterday, the ecosystem's first cross-chain project, ROUP, conducted a public mint of a total of 21 million tokens, all of which have been minted. The current market cap is US$3 million.
GROK (Token) - Following the release of the first artificial intelligence model Grok by Musk's xAI startup, the memecoin GROK has caught the attention of speculative capital. The token has a significant number of holders and trading volume. The price fluctuates at high levels, with a 24-hour trading volume of approximately US$6 million.
LINK (Token) - Chainlink, the frontrunner in the oracle sector, continues its upward trend, breaking past its previous high again today. The token price has surpassed US$14, with a total 24-hour trading volume of US$1.16 billion. It has become the 12th largest token in terms of market cap, indicating a strong increase in value.
MATIC (Token) - The NEAR Foundation and Polygon Labs have announced a strategic partnership to jointly develop a zero-knowledge (ZK) prover for
blockchains with WebAssembly (WASM) called zkWASM. The zkWASM prover is scheduled to launch next year. The price of MATIC has rebounded 60% from its low during the current market cycle, showing a positive trend.
ARB (Token) - The Arbitrum community has passed a proposal with a 66.76% approval rate to "activate ARB staking" with 100 million ARB tokens (1% of ARB's total supply). The rewards will be funded by the treasury and distributed through smart contracts over 12 months. Arbitrum has recently announced the launch of its donation program, which includes the first round of Arbitrum Citizens Retrofunding, Matching Fest on Gitcoin, and the Allo Hackathon. Additionally, Arbitrum DAO initiated the vote on the proposal "Provide funding support for the STIP proposal," intending to increase the budget to 71.4 million ARB.
2.Popular NFTs:
CryptoPunks (NFT) - Influenced by the
crypto market's popularity, the NFT space has recently witnessed the return of whales, with an address purchasing Zombie Punks valued at over 100 ETH, indicating a resurgence in the NFT market.
3.Popular DApps:
OpenSea Seaport (DApp) - Recently, OpenSea reduced its staff by approximately 50% and plans to reposition its team around OpenSea 2.0. The New York hedge fund Coatue has cut the value of its OpenSea shares by 90% to US$13 million, which may suggest that the current valuation of OpenSea is only US$1.4 billion.
Ethscription (DApp) - This project is a protocol for inscribing messages on Ethereum, developed by Tom Lehman, co-founder and former CEO of Genius.com. It allows the creation and sharing of digital objects on Ethereum using call data. The min t price for the protocol's project ETHS was 1 USDT, and its current price has surpassed 3000 USDT, marking an enormous increase.
RhinoFi Bridge (DApp) - Rhino.fi is a multi-chain decentralized finance (DeFi) aggregator that offers a frictionless cross-chain experience, enabling users to access the best DeFi opportunities in one secure and reliable place. As a Layer 2 solution, Rhino.fi aims to provide users with easy multi-chain token transfer capabilities, delivering an ultimate cross-chain operation experience. It allows users to seamlessly switch between different blockchains without the need for complex bridging or network switching.
Oneinch (DApp) - Binance has officially introduced the Binance Web3 Wallet, an integrated self-custody
cryptocurrency wallet within the Binance App. It allows users to exchange tokens across various networks through a simplified process, using 1Inch routing service for the underlying DEX. Influenced by this development, 1Inch saw a temporary increase of over 10%.
Friend.Tech (DApp) - The social protocol on Base, Friend.Tech, has seen a decline in popularity during the token bull market. The TVL remains stable, hovering around US$43 million. The protocol's daily fees have decreased by 60%, presenting a favorable opportunity for point accumulation through interaction.
TagDotTech (DApp) - Incubated by influencer Machibigbrother and launched on Base, the social protocol TagDotTech had its TGE on Balancer yesterday. The token price soared by over 10x at one point, with a total market cap of US$300 million and a 24-hour trading volume of US$1.8 million.
Raydium (DApp) - Raydium is a DEX based on Solana. Following the SEC Chairman's hint at a possible reboot of FTX under new leadership, the RAY token maintained a strong upward trend, with a 24-hour price increase of 10%, a trading volume of US$20 million, and a market cap of US$160 million.
4.Twitter Hot Topics:
GALA (Token) - In the recent surge of the blockchain gaming sector, Gala, which was a popular asset in the previous cycle, has garnered significant attention from speculative capital. The token's price has surged over 80% in the past two weeks, and it's generating a high search volume on Twitter. It is advisable to keep an eye on this token, as well as other assets in the same sector, such as RACA and GMT.
ARB (Token) - On November 7, Arbitrum announced the launch of its donation program, which includes the first round of Arbitrum Citizens Retrofunding, Matching Fest on Gitcoin, and the Allo Hackathon. On November 8, Arbitrum DAO initiated the vote on the proposal "Provide funding support for the STIP proposal," intending to increase the budget to 71.4 million ARB.
5.Regional Trending Searches:
BTC (Token) - Today, BTC broke through the US$36,000 mark, leading to the liquidation of US$31 million in short positions in the market. After the breakout, BTC briefly jumped to around US$37,000 and is currently fluctuating around US$36,500. After the Federal Reserve's interest rate meeting in November, Powell's dovish remarks set the capital
markets into a Risk-on mode, benefitting risky assets.
Main Body
Written by: Bitget Research
Data collection time: November 9, 10:30
Data sources: Dune, DApps, Twitter, Google
Note:
1) New active users: Refers to wallet addresses that were newly created on the chain in the past 24 hours and had interactions on the chain.
2) Existing active users: Refers to wallet addresses that were created on the chain 24 hours ago and had interactions on the chain in the past 24 hours.
3) DApp daily activity (UAW: unique active wallets)
4) TGE (Token Generation Event)
1.BTC Profile - BRC-20
RATS (Token) - This is a memecoin on the BRC-20 blockchain representing rats. Influenced by the recent surge of capital inflow into the sector, the token has seen a sharp increase in on-chain trading volume, with a 7-day trading volume of 226 BTC (approximately US$8.13 million). The price has pulled back, and the current market cap is 33 BTC.
MAPO (Token) - A token deployed on the BRC-20 by MapProtocol, which aims to develop a Layer 2 protocol for BTC rollups. Yesterday, the ecosystem's first cross-chain project, ROUP, conducted a public mint of a total of 21 million tokens, all of which have been minted. The current market cap is US$3 million.
2.Blockchain Profile - ETH Chain
2.1 User Profile
2.1.1 Core Data
Total active users on ETH: 386,489
New active users on ETH: 70,997, with a daily decrease of 2.00%
Existing active users on ETH: 315,492, with a daily decrease of 0.88%
2.1.2 New User Profile
Core data: There were a total of 70,997 new active users on ETH yesterday, with a daily decrease of 2.00%
Popular Sectors
Popular Projects
Key Projects:
Ethscription (DApp) - This project is a protocol for inscribing messages on Ethereum, developed by Tom Lehman, co-founder and former CEO of Genius.com. It allows the creation and sharing of digital objects on Ethereum using call data. The mint price for the protocol's project ETHS was 1 USDT, and its current price has surpassed 3000 USDT, marking an enormous increase.
2.1.3 Existing User Profile
Core data: The number of ETH active existing users is 315,492, with a daily decrease of 0.88%
Popular Sectors
Popular Projects
Key Projects:
OpenSea Seaport (DApp) - Recently, OpenSea reduced its staff by approximately 50% and plans to reposition its team around OpenSea 2.0. The New York hedge fund Coatue has cut the value of its OpenSea shares by 90% to US$13 million, which may suggest that the current valuation of OpenSea is only US$1.4 billion.
2.2 Popular Trading Pairs
2.2.1 Uniswap V2
GROK (Token) - Following the release of the first artificial intelligence model Grok by Musk's xAI startup, the memecoin GROK has caught the attention of speculative capital. The token has a significant number of holders and trading volume. The price fluctuates at high levels, with a 24-hour trading volume of approximately US$6 million.
2.2.2 Uniswap V3
LINK (Token) - Chainlink, the frontrunner in the oracle sector, continues its upward trend, breaking past its previous high again today. The token price has surpassed US$14, with a total 24-hour trading volume of US$1.16 billion. It has become the 12th largest token in terms of market cap, indicating a strong increase in value.
2.3 Popular NFTs
2.3.1 Top NFT Collections
CryptoPunks (NFT) - Influenced by the crypto market's popularity, the NFT space has recently witnessed the return of whales, with an address purchasing Zombie Punks valued at over 100 ETH, indicating a resurgence in the NFT market.
3.Blockchain Profile - BSC
3.1 User Profile
3.1.1 Core Data
Total active users on BSC: 1,009,753
New active users on BSC: 138,806, with a daily increase of 16.66%
Existing active users on BSC: 870,947, with a daily increase of 2.03%
3.1.2 New User Profile
Core data: There were a total of 138,806 new active users on BSC yesterday, with a daily increase of 16.66%
Popular Sectors
Popular Projects
Key Projects:
TinyTap (DApp) - TinyTap is a vast library of games created by educators. Now under the umbrella of Animoca Brands, the project is dedicated to forging an open, blockchain-driven educational ecosystem. TinyTap offers a no-code platform, enabling educators to create and share interactive educational content and earn a share of the revenue when learners utilize their content. Creators can craft TinyTap content and activities via TinyTap's iPad application or its website.
3.1.3 Existing User Profile
Core data: The number of BSC active existing users is 870,947, with a daily increase of 2.03%
Popular Sectors
Popular Projects
Key Projects:
PancakeSwap (DApp) - Binance has officially launched the Binance Web3 Wallet, enabling users to exchange tokens across multiple networks at the best prices through a secure and simplified process. The underlying DEX utilizes routing service from 1inch and PancakeSwap.
3.2 Popular Trading Pairs
3.2.1 PancakeSwap V2
On PancakeSwap, there are no projects that particularly require attention. There is an abundance of shitcoin and replica projects. Be aware of the associated risks.
4.Blockchain Profile - Polygon Chain
4.1 User Profile
4.1.1 Core Data
Total active users on Polygon: 406,554
New active users on Polygon: 72,361, with a daily increase of 7.85%
Existing active users on Polygon: 334,193, with a daily increase of 8.19%
4.1.2 New User Profile
Core data: There were a total of 72,361 new active users on Polygon yesterday, with a daily increase of 7.85%
Popular Sectors
Popular Projects
Key Projects:
DAI (Token) - On November 1, MakerDAO transferred US$250 million to DAI's Peg Stability Module (PSM) from Coinbase to maintain the peg of the stablecoin DAI to the US dollar. Previously, DAI's USDC reserves nearly fell below US$60 million, while a reserve of at least US$200 million is considered safe. PSM is a collateral pool that allows users to exchange USDC and DAI at a 1:1 ratio.
4.1.3 Existing User Profile
Core Data: The number of Polygon active existing users is 334,193, with a daily increase of 8.19%
Popular Sectors
Popular Projects
Key Projects:
Planet (DApp) - A Web3 NFT-based GameFi game that is currently one of the most popular games on Polygon. It consistently tops the Polygon ecosystem rankings, indicating a very high level of user activity.
4.2 Popular Trading Pairs
4.2.1 Uniswap V3
MATIC (Token) - The NEAR Foundation and Polygon Labs have announced a strategic partnership to jointly develop a zero-knowledge (ZK) prover for blockchains with WebAssembly (WASM) called zkWASM. The zkWASM prover is scheduled to launch next year. The price of MATIC has rebounded 60% from its low during the current market cycle, showing a positive trend.
5.Blockchain Profile - Arbitrum Chain
5.1 User Profile
5.1.1 Core Data
Total Active Users on Arbitrum: 189,415
New Active Users on Arbitrum: 34,462, with a daily increase of 41.50%
Existing Active Users on Arbitrum: 154,953, with a daily increase of 23.80%
5.1.2 New User Profile
Core data: There were a total of 34,462 new active users on Arbitrum yesterday, with a daily increase of 41.50%
Popular Sectors
Popular Projects
Key Projects:
RhinoFi Bridge (DApp) - Rhino.fi is a multi-chain decentralized finance (DeFi) aggregator that offers a frictionless cross-chain experience, enabling users to access the best DeFi opportunities in one secure and reliable place. As a Layer 2 solution, Rhino.fi aims to provide users with easy multi-chain token transfer capabilities, delivering an ultimate cross-chain operation experience. It allows users to seamlessly switch between different blockchains without the need for complex bridging or network switching.
5.1.3 Existing User Profile
Core data: The number of Arbitrum active existing users is 154,953, with a daily increase of 23.80%
Popular Sectors
Popular Projects
Key Projects:
Oneinch (DApp) - Binance has officially introduced the Binance Web3 Wallet, an integrated self-custody cryptocurrency wallet within the Binance App. It allows users to exchange tokens across various networks through a simplified process, using 1Inch routing service for the underlying DEX. Influenced by this development, 1Inch saw a temporary increase of over 10%.
5.2 Popular Trading Pairs
5.2.1 Uniswap V3
ARB (Token) - The Arbitrum community has passed a proposal with a 66.76% approval rate to "activate ARB staking" with 100 million ARB tokens (1% of ARB's total supply). The rewards will be funded by the treasury and distributed through smart contracts over 12 months. Arbitrum has recently announced the launch of its donation program, which includes the first round of Arbitrum Citizens Retrofunding, Matching Fest on Gitcoin, and the Allo Hackathon. Additionally, Arbitrum DAO initiated the vote on the proposal "Provide funding support for the STIP proposal," intending to increase the budget to 71.4 million ARB.
6.Blockchain Profile - Base Chain
6.1 User Profile
6.1.1 Core Data
Total Active Users on Base: 81,306
New Active Users on Base: 12,077, with a daily increase of 18.84%
Existing Active Users on Base: 69,229, with a daily increase of 25.34%
6.1.2 New User Profile
Core data: There were a total of 12,077 new active users on Base yesterday, with a daily increase of 18.84%
Popular Sectors
Popular Projects
Key Projects:
Friend.Tech (DApp) - The social protocol on Base, Friend.Tech, has seen a decline in popularity during the token bull market. The TVL remains stable, hovering around US$43 million. The protocol's daily fees have decreased by 60%, presenting a favorable opportunity for point accumulation through interaction.
6.1.3 Existing User Profile
Core data: The number of Base active existing users is 69,229, with a daily increase of 25.34%
Popular Sectors
Popular Projects
Key Projects:
TagDotTech (DApp) - Incubated by influencer Machibigbrother and launched on Base, the social protocol TagDotTech had its TGE on Balancer yesterday. The token price soared by over 10x at one point, with a total market cap of US$300 million and a 24-hour trading volume of US$1.8 million.
7. DApp Ecosystem - All Chains
Rhino.fi (DApp) - Rhino.fi is a multi-chain decentralized finance (DeFi) aggregator that offers a frictionless cross-chain experience, enabling users to access the best DeFi opportunities in one secure and reliable place. As a Layer 2 solution, Rhino.fi aims to provide users with easy multi-chain token transfer capabilities, delivering an ultimate cross-chain operation experience. It allows users to seamlessly switch between different blockchains without the need for complex bridging or network switching.
8.DApp Ecosystem - ETH Chain
Blur (DApp) - With the recent uptick in the NFT market, the number of trading users on Blur has briefly surpassed that of OpenSea. In addition, Blur's Season 2 airdrop is about to be released. The price of Blur token has shown a strong upward trend, continuously breaking new highs over several days, with the price rebounding up to three times from its bottom.
9.DApp Ecosystem - BSC
TinyTap (DApp) - TinyTap is a vast library of games created by educators. Now under the umbrella of Animoca Brands, the project is dedicated to forging an open, blockchain-driven educational ecosystem. TinyTap offers a no-code platform, enabling educators to create and share interactive educational content and earn a share of the revenue when learners utilize their content. Creators can craft TinyTap content and activities via TinyTap's iPad application or its website.
10.DApp Ecosystem - Polygon Chain
Kratos Studios (DApp) - Kratos Studios, based in India, is a Web3 gaming startup and the intellectual property owner of the world's largest gaming DAO, IndiGG. Established in 2022, the company focuses on developing various types of games, operating as a Web3 gaming company. In addition to holding the intellectual property of IndiGG, Kratos Studios is also an active investor in the global Web3 gaming space.
11.DApp Ecosystem - WAX Chain
The UAW fluctuations for all projects are within the normal range.
12.DApp Ecosystem - Solana Chain
Raydium (DApp) - Raydium is a DEX based on Solana. Following the SEC Chairman's hint at a possible reboot of FTX under new leadership, the RAY token maintained a strong upward trend, with a 24-hour price increase of 10%, a trading volume of US$20 million, and a market cap of US$160 million.
13.DApp Ecosystem - Arbitrum Chain
Radiant (DApp) - The multi-chain lending protocol, Radiant Capital, has recently launched on the Ethereum mainnet. A total of 500,000 ARB tokens will be airdropped to all 6-12 month dLP lockers on the mainnet. The first snapshot for Starfleet season 2 commenced at Ethereum block height of 18479253, with the snapshot window concluding within 30-60 days.
14.DApp Ecosystem - Base Chain
Balancer (DApp) - Influenced by the social protocol TagDotTech's release, a project incubated by influencer Machibigbrother, Balancer's UAW soared by 265%. TAG token's 24-hour trading volume reached US$1.7 million, indicating a high level of popularity.
15.DApp Ecosystem - GameFi Sector Across All Chains
Sweat Economy (DApp) - A traditional Web2 project that has transitioned to a Web3 wallet and a "Move to Earn" project, with currently 5 million downloads on Google Play. Users can earn SWEAT tokens through its Sweat Wallet application by engaging in daily physical activities.
16.Gas Fee Consumption - ETH Chain
Maestro (DApp) - Maestro is a renowned on-chain bot, that is highly favored by the crypto community. With the advantage of being an early player in the market, Maestro has established a substantial user base. In the next memecoin season, projects in the Bot sector may have good potential for growth. The usage of bots in the crypto community remains steady, and Maestro continues to maintain its position in the top three of the interaction leaderboard.
17.Gas Fee Consumption - BSC
Seg Finance (DApp) - A Play2Earn project on the BSC, where users can stake their shoe NFTs or provide liquidity to earn passive BNB profits. The project is now open source, and its contract on the BSC is transparent. It has over 1500 followers on Twitter and is an essential project to stay updated on.
18.Gas Fee Consumption - Polygon Chain
Galxe (DApp) - A Web3-based credential data network, Galxe fosters an open and collaborative infrastructure, enabling brands and developers to interact with their communities and build robust products within the Web3 environment. Recently, Galxe officially launched Galxe AI, a chatbot proficient in cryptocurrencies. It is powered by ALVA and is in the whitelist testing phase.
19.Gas Fee Consumption - Arbitrum Chain
Vertex (DApp) - The derivatives protocol on the Arbitrum chain, Vertex, recently announced on social media their upcoming ARB trading incentives, the protocol's native token emission plan, and an LBA token sale. According to data shared by DeFiLlama, Vertex Protocol's TVL has recently increased to US$15.72 million.
20.Gas Fee Consumption - Base Chain
Odos (DApp) - The Odos Protocol stands out as the first Dex aggregator that allows users to swap multiple tokens for a single asset in one atomic transaction. This system facilitates the exchange of a basket of input tokens for the desired output in one go, saving on gas fees and mitigating market volatility.
21.Twitter Trends Token Top Rank
GALA (Token) - In the recent surge of the blockchain gaming sector, Gala, which was a popular asset in the previous cycle, has garnered significant attention from speculative capital. The token's price has surged over 80% in the past two weeks, and it's generating a high search volume on Twitter. It is advisable to keep an eye on this token, as well as other assets in the same sector, such as RACA and GMT.
ARB (Token) - On November 7, Arbitrum announced the launch of its donation program, which includes the first round of Arbitrum Citizens Retrofunding, Matching Fest on Gitcoin, and the Allo Hackathon. On November 8, Arbitrum DAO initiated the vote on the proposal "Provide funding support for the STIP proposal," intending to increase the budget to 71.4 million ARB.
22.Google Trends - Global
BTC (Token) - Today, BTC broke through the US$36,000 mark, leading to the liquidation of US$31 million in short positions in the market. After the breakout, BTC briefly jumped to around US$37,000 and is currently fluctuating around US$36,500. After the Federal Reserve's interest rate meeting in November, Powell's dovish remarks set the capital markets into a Risk-on mode, benefitting risky assets.
23.Google Trends Surge - East Asia, South Asia, Southeast Asia, Hong Kong, Macau, and Taiwan
a) South Asia Region
India Trends: Crypto Screener, Storj, Solana, Bonk, Onramp
Pakistan Trends: CMC, Crypto Batter, CMC, Ordinals, Halal, Coinmarketcap
b) Southeast Asia Region
Malaysia Trends: CMC, LINK, Bitcoin, AVAX, LUNC
Vietnam Trends: Crypto Bubbles
Singapore Trends: Binance, Crypto Ranking
c) East Asia and Hong Kong, Macau, and Taiwan
Trends: iis Crypto, Crypto.com
24.Google Trends Surge - English-speaking Countries, Europe, CIS Region
a) CIS Region
Trends: Airdrop Crypto, Crypto Bubble, Arkham, Airdrop
b) English-speaking Countries
Australia Trends: Matic, Link, Moonriver, WTK, Bigtime
UK Trends: Arbitrum, Atom, Binance, Storj, Safemoon, TWT
USA Trends: link, Litecoin, SUI, CMC
Canada Trends: ANKR, Stellar, XRP, BTC, PEPE, Storj, TON
c) Europe
France Trends: Gas, SXP, GST, Polymesh, MNW
Poland Trends: ATOM, MINA, FTM, SOL, TAO, Dash
Switzerland Trends: Matic, Link
Turkey Trends: Faucet Crypto, CMC, RSI, YUKI
Germany Trends: Sweat, XRP, Ripple, Sweat
Italy Trends: TAO, MOVR, ORDI
25.Google Trends Surge - Middle East, Latin America, Africa
a) Africa
South Africa Trends: XRP, Matic, Solana, CMC
Nigeria Trends: Cosmos, ICE, TWT, CMC, Simplex
b) Middle East
UAE Trends: CGC, CMC, BTC,
Tradingview
c) Latin America
Brazil Trends: Shiba, RAD, LINK, SHIBA, ETH, RAD
Argentina Trends: XRP, CAKE, SHIB, STELLAR, NEXO, CMC
References
1. Dune Dashboard - Blockchain Profile: https://dune.com/bitgetresearch/bitgetreseach-chains-overview
2. Dune Dashboard - Gas Fee Consumption:
https://dune.com/bitgetresearch/gas-overview
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