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- Bitget Research: USDT Total Market Cap Surpasses US$87 Billion Setting New High, BRC-20 Sector Continues Strong Performance
Bitget Research: USDT Total Market Cap Surpasses US$87 Billion Setting New High, BRC-20 Sector Continues Strong Performance
Bitget Research
2023/11/15
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:
SATS (Token) - Currently the most actively traded BRC-20 token, with a 24-hour on- XCNUSDT">
chain trading volume of approximately US$4 million. It has been listed on multiple centralized exchanges.
Tether USDT (Token) - The total market cap of USDT has surpassed US$87 billion, reaching US$87.98 billion, continuously setting new historical highs.
GROK (Token) - GROK is a memecoin named after the artificial intelligence model GROK, developed by Elon Musk's company XAI. It currently enjoys significant hype on-chain. Despite recent instances of FUD, the project continues to receive robust capital support.
MUBI (Token) - A trending project, MUBI primarily facilitates cross-chain transactions between BRC-20 and ERC-20 tokens. Given the high demand for BRC-20 tokens, the project's approach is well-targeted. MUBI has an open-source contract, with a 24-hour trading volume of approximately US$13 million. It is advisable to keep this token on your radar.
MATIC (Token) - Following OKX, a centralized exchange, announcing its use of PolygonSDK to build a Layer 2 network, MATIC experienced a significan t price increase. During the current upswing in the
crypto market, MATIC has shown commendable performance, rising approximately 86% from its low point.
ARB (Token) - After the Arbitrum community allocated 21.4 million ARB tokens to 26 projects, their approaches to handling ARB varied. Some used it to incentivize users, while others opted to sell the ARB directly. This is the key reason for ARB's underperformance against many assets in the current crypto market trend.
TIA (Token) - Following its TGE, the modular chain TIA has experienced a significant and sustained increase, repeatedly reaching new highs and sparking broad discussion on social media. Its total 24-hour trading volume is close to US$900 million, ranking it in the top 10 of all cryptocurrencies by trading volume.
2.Popular NFTs:
CryptoPunks (NFT) - The blue-chip projects of the NFT market such as CryptoPunks, BAYC, Pudgy Penguins, and Azuki have recently shown a notable rebound. With the market's positive turn, the interest in NFTs from market participants is gradually reviving.
MUA Boarding Pass Token (NFT) - This project is a metaverse project launched by MUA DAO. It is currently hosting the Boarding Odyssey event, where users can participate to win Boarding Pass rewards and points.
Soulbound Battlefly (NFT) - This project features soulbound NFTs released by the popular strategy game BattleFly on Arbitrum, which are garnering significant interest from on-chain players. It is advisable to keep this NFT on your radar.
3.Popular DApps:
BananaGun (DApp) - BananaGun's official announcement states that the protocol's tota l trading volume has reached US$388 million, ranking second in the BOT sector. Concurrently, the on-chain trading volume for its token hit a record high of US$8.65 million in one day, yielding 28 ETH in fees. Furthermore, BananaGun is raising its reward rate to 15%, providing users with greater rebates on fees.
Secondlive (DApp) - SecondLive offers a 3D virtual space where users can explore the metaverse through unique virtual avatars. These avatars enable participation in various activities, such as singing, dancing, virtual exhibitions, and shopping. This immersive experience forms the foundation of SecondLive. As one of the most active metaverse infrastructure projects on BSC, SecondLive has over 800,000 registered users and a large, active community. The platform continuously improves, offering diverse avatar styles, space construction templates, and various low-code rule engines. It supports virtual live broadcasts, concerts, large online conferences, and commercial displays.
ApolloX (DApp) - This project is a significant derivatives DEX product on BSC, offering over 60 contracts. The platform supports up to 150x leverage. Its recent launch on Arbitrum has also attracted a portion of users.
Dmail (DApp) - Dmail is a mail application based on
Web 3.0 and Dfinity technology, integrating NFT functionality and distributed storage, with each account itself being an NFT. This project aims to bridge the gap between traditional email systems and blockchain-based email systems, thereby lowering the barrier for users and developers to engage with the crypto world. The design philosophy of Dmail is to make the use of
blockchain technology as simple and intuitive as using the internet.
LayerSwap (DApp) - LayerSwap functions as a bridging platform, facilitating the transfer of
cryptocurrency assets (primarily ETH) from centralized exchanges such as Coinbase, Binance, and Houbi to Ethereum's Layer 2 wallet addresses like Arbitrium, Zk-sync, and Optimism. This service is especially beneficial for users looking to trade on Layer 2 networks and aiming to minimize transfer costs.
BitgetSwap (DApp) - BitgetSwap stands out with its intelligent DEX aggregator. By aggregating over 100 DEXs, the system ensures that users can access the best market prices, supported by the platform's high liquidity. In addition to its core trading functionalities, BitgetSwap further enhances user interaction with other product elements on the platform, including token management, NFT marketplace, DApp browser, and LaunchPad.
Treasure (DApp) - TreasureDAO is a decentralized NFT ecosystem project based on Ethereum's Layer 2 network, Arbitrum. It originated as a derivative of the Loot project and launched its first batch of 10,000 project items in August 2021. TreasureDAO highlights the acquisition of valuable items in its games without the need for purchases, setting it apart from numerous other NFT or gaming projects. The project supports its ecosystem through the MAGIC token and a DAO (Decentralized Autonomous Organization), aiming to create a modular and open platform for NFT and game integration.
4.Twitter Hot Topics:
TIA (Token) - Following its TGE, the modular chain TIA has experienced a significant and sustained increase, repeatedly reaching new highs and sparking broad discussion on social media. Its total 24-hour trading volume is close to US$900 million, ranking it in the top 10 of all cryptocurrencies by trading volume.
5.Regional Trending Searches:
BEAMX (Token) - Binance has completed the Merit Circle (MC) token swap, redenomination, and rebranding to Beam (BEAMX). The exchange will use BEAMX as the ticker for Beam, different from the on-chain display. Furthermore, all BEAMX tokens have been distributed at a ratio of 1 MC = 100 BEAMX, with deposit and withdrawal services for the token now open. BEAMX experienced signific
ant price fluctuations following the token swap, with price disparities appearing between CEXs but quickly converging.
Main Body
Written by: Bitget Research
Data collection time: November 15, 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
SATS (Token) - Currently the most actively traded BRC-20 token, with a 24-hour on-chain trading volume of approximately US$4 million. It has been listed on multiple centralized exchanges.
2.Blockchain Profile - ETH Chain
2.1 User Profile
2.1.1 Core Data
Total active users on ETH: 365,436
New active users on ETH: 67,921, with a daily increase of 0.74%
Existing active users on ETH: 297,515, with a daily increase of 0.79%
2.1.2 New User Profile
Core data: There were a total of 67,921 new active users on ETH yesterday, with a daily increase of 0.74%
Popular Sectors
Popular Projects
Key Projects:
Tether (Token) - The total market cap of USDT has surpassed US$87 billion, reaching US$87.98 billion, continuously setting new historical highs.
2.1.3 Existing User Profile
Core data: The number of ETH active existing users is 297,515, with a daily increase of 0.79%
Popular Sectors
Popular Projects
Key Projects:
BananaGun (DApp) - BananaGun's official announcement states that the protocol's total trading volume has reached US$388 million, ranking second in the BOT sector. Concurrently, the on-chain trading volume for its token hit a record high of US$8.65 million in one day, yielding 28 ETH in fees. Furthermore, BananaGun is raising its reward rate to 15%, providing users with greater rebates on fees.
2.2 Popular Trading Pairs
2.2.1 Uniswap V2
GROK (Token) - GROK is a memecoin named after the artificial intelligence model GROK, developed by Elon Musk's company XAI. It currently enjoys significant hype on-chain. Despite recent instances of FUD, the project continues to receive robust capital support.
2.2.2 Uniswap V3
MUBI (Token) - A trending project, MUBI primarily facilitates cross-chain transactions between BRC-20 and ERC-20 tokens. Given the high demand for BRC-20 tokens, the project's approach is well-targeted. MUBI has an open-source contract, with a 24-hour trading volume of approximately US$13 million. It is advisable to keep this token on your radar.
2.3 Popular NFTs
2.3.1 Top NFT Collections
CryptoPunks (NFT) - The blue-chip projects of the NFT market such as CryptoPunks, BAYC, Pudgy Penguins, and Azuki have recently shown a notable rebound. With the market's positive turn, the interest in NFTs from market participants is gradually reviving.
3.Blockchain Profile - BSC
3.1 User Profile
3.1.1 Core Data
Total active users on BSC: 1,027,261
New active users on BSC: 145,795, with a daily decrease of 2.39%
Existing active users on BSC: 881,466, with a daily decrease of 1.22%
3.1.2 New User Profile
Core data: There were a total of 145,795 new active users on BSC yesterday, with a daily decrease of 2.39%
Popular Sectors
Popular Projects
Key Projects:
MUA Boarding Pass Token (NFT) - This project is a metaverse project launched by MUA DAO. It is currently hosting the Boarding Odyssey event, where users can participate to win Boarding Pass rewards and points.
3.1.3 Existing User Profile
Core data: The number of BSC active existing users is 881,466, with a daily decrease of 1.22%
Popular Sectors
Popular Projects
Key Projects:
Secondlive (DApp) - SecondLive offers a 3D virtual space where users can explore the metaverse through unique virtual avatars. These avatars enable participation in various activities, such as singing, dancing, virtual exhibitions, and shopping. This immersive experience forms the foundation of SecondLive. As one of the most active metaverse infrastructure projects on BSC, SecondLive has over 800,000 registered users and a large, active community. The platform continuously improves, offering diverse avatar styles, space construction templates, and various low-code rule engines. It supports virtual live broadcasts, concerts, large online conferences, and commercial displays.
3.2 Popular Trading Pairs
3.2.1 PancakeSwap V2
MUBI (Token) - As previously introduced, this project has not been issued on BSC. Users are advised to be cautious in identifying the authenticity of the token and to 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: 388,672
New active users on Polygon: 75,358, with a daily decrease of 12.58%
Existing active users on Polygon: 313,314, with a daily decrease of 14.61%
4.1.2 New User Profile
Core data: There were a total of 75,358 new active users on Polygon yesterday, with a daily decrease of 12.58%
Popular Sectors
Popular Projects
Key Projects:
Meta Force (DApp) - This is a project that has previously conducted NFT sales. The on-chain data is still relatively active, with numerous operations such as buying tokens with DAI and "Registration" taking place. The project operates on an invitation-only basis where the inviter receives a purchase reward from the invitee, which carries the characteristics of pyramid selling (MLM). Participation is not recommended.
4.1.3 Existing User Profile
Core Data: The number of Polygon active existing users is 313,314, with a daily decrease of 14.61%
Popular Sectors
Popular Projects
Key Projects:
Project Galaxy - The core goal of Project Galaxy is to establish an open and collaborative credential data network, accessible to all Web3 developers. The project provides infrastructure to assist community members in managing and contributing digital credentials, as well as managing these credentials through multiple data sources. This design aims to promote the growth and development of the Web3 community.
4.2 Popular Trading Pairs
4.2.1 Uniswap V3
MATIC (Token) - Following OKX, a centralized exchange, announcing its use of PolygonSDK to build a Layer 2 network, MATIC experienced a significant price increase. During the current upswing in the crypto market, MATIC has shown commendable performance, rising approximately 86% from its low point.
5.Blockchain Profile - Arbitrum Chain
5.1 User Profile
5.1.1 Core Data
Total Active Users on Arbitrum: 156,402
New Active Users on Arbitrum: 23,913, with a daily decrease of 5.21%
Existing Active Users on Arbitrum: 132,489, with a daily increase of 13.00%
5.1.2 New User Profile
Core data: There were a total of 23,913 new active users on Arbitrum yesterday, with a daily decrease of 5.21%
Popular Sectors
Popular Projects
Key Projects:
ApolloX (DApp) - This project is a significant derivatives DEX product on BSC, offering over 60 contracts. The platform supports up to 150x leverage. Its recent launch on Arbitrum has also attracted a portion of users.
5.1.3 Existing User Profile
Core data: The number of Arbitrum active existing users is 132,489, with a daily increase of 13.00%
Popular Sectors
Popular Projects
Key Projects:
Soulbound Battlefly (NFT) - This project features soulbound NFTs released by the popular strategy game BattleFly on Arbitrum, which are garnering significant interest from on-chain players. It is advisable to keep this NFT on your radar.
5.2 Popular Trading Pairs
5.2.1 Uniswap V3
ARB (Token) - After the Arbitrum community allocated 21.4 million ARB tokens to 26 projects, their approaches to handling ARB varied. Some used it to incentivize users, while others opted to sell the ARB directly. This is the key reason for ARB's underperformance against many assets in the current crypto market trend.
6.Blockchain Profile - Base Chain
6.1 User Profile
6.1.1 Core Data
Total Active Users on Base: 55,236
New Active Users on Base: 7,877, with a daily increase of 2.05%
Existing Active Users on Base: 47,359, with a daily decrease of 0.20%
6.1.2 New User Profile
Core data: There were a total of 7,877 new active users on Base yesterday, with a daily increase of 2.05%
Popular Sectors
Popular Projects
Key Projects:
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.
6.1.3 Existing User Profile
Core data: The number of Base active existing users is 47,359, with a daily decrease of 0.20%
Popular Sectors
Popular Projects
Key Projects:
Dmail (DApp) - Dmail is a mail application based on Web 3.0 and Dfinity technology, integrating NFT functionality and distributed storage, with each account itself being an NFT. This project aims to bridge the gap between traditional email systems and blockchain-based email systems, thereby lowering the barrier for users and developers to engage with the crypto world. The design philosophy of Dmail is to make the use of blockchain technology as simple and intuitive as using the internet.
7. DApp Ecosystem - All Chains
Galxe (DApp) - Project Galaxy supports a variety of data sources, including both on-chain and off-chain. For on-chain credentials, curators can contribute through subgraph queries or static snapshots. For off-chain credentials, Project Galaxy has integrated with platforms like Snapshot.org, Twitter, and Github. This support for diverse data sources enables Project Galaxy to more broadly collect and utilize data.
8.DApp Ecosystem - ETH Chain
LayerSwap (DApp) - LayerSwap functions as a bridging platform, facilitating the transfer of cryptocurrency assets (primarily ETH) from centralized exchanges such as Coinbase, Binance, and Houbi to Ethereum's Layer 2 wallet addresses like Arbitrium, Zk-sync, and Optimism. This service is especially beneficial for users looking to trade on Layer 2 networks and aiming to minimize transfer costs.
9.DApp Ecosystem - BSC
Hooked (DApp) - Hooked Protocol aims to address major challenges in the adoption of Web3, such as lack of user motivation, high entry barriers, and a shortage of Web3 education. The project encourages users to embark on their Web3 journey by offering gamified learning experiences and incentive mechanisms.
10.DApp Ecosystem - Polygon Chain
BitgetSwap (DApp) - BitgetSwap stands out with its intelligent DEX aggregator. By aggregating over 100 DEXs, the system ensures that users can access the best market prices, supported by the platform's high liquidity. In addition to its core trading functionalities, BitgetSwap further enhances user interaction with other product elements on the platform, including token management, NFT marketplace, DApp browser, and LaunchPad.
11.DApp Ecosystem - WAX Chain
Alien Worlds (DApp) - "Alien Worlds" is a rapidly growing, blockchain-based game and is among the largest DApps currently. It was co-founded by Sarojina McKenna and Michael Yeates. Elevating the concept of blockchain gaming to a new tier, the project combines non-fungible tokens (NFTs) with interstellar/alien fantasies to provide users with an immersive and robust gaming experience that rewards them innovatively. Alien Worlds is a decentralized NFT metaverse where players compete for the scarce resource Trilium (TLM) in a planet-centric exciting economy. They can amplify their influence in the game by voting and staking within decentralized autonomous organizations (Planet DAOs) on the planets.
12.DApp Ecosystem - Solana Chain
Raydium (DApp) - Raydium is a decentralized exchange (DEX) based on the Solana blockchain, utilizing the Automated Market Maker (AMM) model. It is characterized by its high speed and low cost, and its integration with the Serum DEX enhances trading depth and liquidity. Raydium supports token trading and also offers liquidity pools, OTC trading, and new project launches. Users are incentivized to participate in the network with the RAY token, which allows them to engage in governance, earn a share of transaction fees, and more through staking.
13.DApp Ecosystem - Arbitrum Chain
BattleFly (DApp) - BattleFly is a network that integrates gaming and services, managed by BattleFly DAO. It is part of the TreasureDAO ecosystem, which aims to build a decentralized metaverse video game console, connect games and communities, and provide core GameFi infrastructure.
14.DApp Ecosystem - Base Chain
Dmail Network (DApp) - Dmail is a mail application based on Web 3.0 and Dfinity technology, integrating NFT functionality and distributed storage, with each account itself being an NFT. This project aims to bridge the gap between traditional email systems and blockchain-based email systems, thereby lowering the barrier for users and developers to engage with the crypto world. The design philosophy of Dmail is to make the use of blockchain technology as simple and intuitive as using the internet.
15.DApp Ecosystem - GameFi Sector Across All Chains
Treasure (DApp) - TreasureDAO is a decentralized NFT ecosystem project based on Ethereum's Layer 2 network, Arbitrum. It originated as a derivative of the Loot project and launched its first batch of 10,000 project items in August 2021. TreasureDAO highlights the acquisition of valuable items in its games without the need for purchases, setting it apart from numerous other NFT or gaming projects. The project supports its ecosystem through the MAGIC token and a DAO (Decentralized Autonomous Organization), aiming to create a modular and open platform for NFT and game integration.
16.Gas Fee Consumption - ETH Chain
Starknet (DApp) - Starknet is set to update to versions V0.12.3 and V0.13.0, and will migrate its testnet to Sepolia after Goerli is phased out. Support for the Goerli testnet will continue until the end of 2023, but developers are encouraged to migrate to Sepolia as soon as possible.
17.Gas Fee Consumption - BSC
PancakeSwap (DApp) - PancakeSwap is set to launch Butter Finance, a decentralized meta-governance and yield enhancement platform based on the veCAKE model. The introduction of veCAKE will allow governance participants to gain proposal voting rights, fee claims, CAKE release control, and up to 3 times reward enhancement when providing liquidity on PancakeSwap.
18.Gas Fee Consumption - Polygon Chain
No new popular DApp on the Polygon gas consumption list.
19.Gas Fee Consumption - Arbitrum Chain
Vertex (DApp) - Vertex is a decentralized exchange (DEX) protocol based on Arbitrum, offering cross-
margin trading services. It integrates spot, perpetual contracts, and money
markets into one application. Vertex has announced its tokenomics and is currently conducting a 5-day Liquidity Bootstrapping Auction (LBA) public sale, with plans to launch its token soon.
20.Gas Fee Consumption - Base Chain
FriendtechShares V1 (DApp) - Friend.tech is a decentralized social application based on the Base blockchain, launched in August 2023. The platform facilitates connections between content creators and their audience. Creators' influence is represented by tradable "Keys," which grant access to exclusive private chat rooms and other privileges. One of the main features of Friend.tech is the chat functionality controlled by these tokens ("Keys"), allowing users to benefit from the growing popularity of content creators by trading these tokens.
21.Twitter Trends Token Top Rank
TIA (Token) - Following its TGE, the modular chain TIA has experienced a significant and sustained increase, repeatedly reaching new highs and sparking broad discussion on social media. Its total 24-hour trading volume is close to US$900 million, ranking it in the top 10 of all cryptocurrencies by trading volume.
22.Google Trends - Global
BEAMX (Token) - Binance has completed the Merit Circle (MC) token swap, redenomination, and rebranding to Beam (BEAMX). The exchange will use BEAMX as the ticker for Beam, different from the on-chain display. Furthermore, all BEAMX tokens have been distributed at a ratio of 1 MC = 100 BEAMX, with deposit and withdrawal services for the token now open. BEAMX experienced significant price fluctuations following the token swap, with price disparities appearing between CEXs but quickly converging.
23.Google Trends Surge - East Asia, South Asia, Southeast Asia, Hong Kong, Macau, and Taiwan
a) South Asia Region
India Trends: DOT, MATIC
Pakistan Trends: GALA
b) Southeast Asia Region
Malaysia Trends: AVAX, SOL
Indonesia Trends: TRX, DOGE
Singapore Trends: SOL, AVAX, CRO
Philippines Trends: PI, AVAX, CRO
c) East Asia and Hong Kong, Macau, and Taiwan
No significant trending keyword found
24.Google Trends Surge - English-speaking Countries, Europe, CIS Region
a) CIS Region
Trends: ARKM
b) English-speaking Countries
Australia Trends: RUNE, OX, BENQI, AVAX, ZRX
UK Trends: GROK, BNT, DYDX, ANKR, METIS, NEO, SUI
USA Trends: XRP, GROK, AVAX, CTX, JOE
Canada Trends: KAS
c) Europe
France Trends: FARM, BNT, SAND, KP3R, NXRA, OP, 0x0
Poland Trends: GROK, TRX, FTM
Switzerland Trends: MATIC, AVAX, TIA, ZRX
Turkey Trends: crypto kemal twitter, crypto fear and greed index
Germany Trends: KSM, ZRX, HELLO
Italy Trends: BTT, CFG, DOGE, ATOM, BNT, TAO
Spain Trends: DASH, XRP, FTM, ADA, GQ, ARB, SOL
25.Google Trends Surge - Middle East, Latin America, Africa
a) Africa
South Africa Trends: XRP, SOL, AVAX, ADA
Nigeria Trends: XRP
b) Middle East
Trends: BTC, SOL
c) Latin America
Brazil Trends: MATIC, OOKI, NEAR, XLM, PEPE
Argentina Trends: BTC, TRB, CAKE, GAS, AVAX
Mexico Trends: LINK, AVAX, UNI
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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