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Bitget Research: SEC Commissioner States No Reason to Impede ETF Approvals, Bitcoin Rebounds to Test US$38,000
Bitget Research
2023/11/23
the past 24 hours, there have been many new popular tokens and topics emerging in the 5e45eab5-712a-4abe-a267-736afdbaeda2, and perhaps they could be the next market spotlight.
In Summary:
1.Popular Tokens:
RATS (Token) - This is a
memecoin in the BRC-20 sector representing rats. It has recently experienced a pullback along with the BRC-20 sector's leading token. With a strong market consensus, it was the first to rebound. Its 24-hour trading volume is US$1.18 million, maintaining its position as the second-largest BRC-20 token on the chain by trading volume, with a market cap of US$75.2 million.
GDAG (Token) - An ERC-20 token deployed by early KAS miners, GDAG employs a 4/0 buy and sell tax to fund the KAS miners' ecosystem. The tax generated from this project is primarily used for the purchase and management of IceRiver and BitMain KAS mining rigs. In the future, holding GDAG will yield mining profits. Currently, GDAG has a market cap of US$4 million, a 24-hour trading volume of US$2 million, and a
liquidity pool of US$1 million.
CZ (Token) - Following CZ's admission of guilt in anti-money laundering and violating U.S. sanctions, and Binance's comprehensive settlement agreement with the U.S., a memecoin named CZ emerged in the market. It became one of the most popular tokens on the chain, with its market cap skyrocketing from tens of thousands of dollars to over ten million dollars at one point. Its 24-hour trading volume stands at US$9 million.
2.Popular NFTs:
YogaPetz (NFT) - An NFT from a
Web3 health ecosystem. The project, in
partnership with Bandai Namco Group, has issued several renowned NFTs like Kubz and Keungz Genesis. In the past 24 hours, its trading volume surged, with 1479 transactions amounting to 732 ETH. The project has 3285 holders.
3.Popular DApps:
Blast (DApp) - The Layer 2 network Blast, launched by Blur's founder Pacman, currently holds a total asset value of over US$250 million in its contract address. The two largest assets are ETH and USDT, valued at US$170 million and US$165 million, respectively. The network has attracted funds from 37,131 addresses.
Blur (DApp) - BLUR, in collaboration with Blast, has developed Blur Season 3. 50% of the rewards from Season 3 will be distributed to $BLUR holders. Depositing $BLUR earns holder points, which are awarded hourly based on the amount of $BLUR deposited. Currently, the total amount staked is 336 million $BLUR, valued at US$166 million.
PancakeSwap (DApp) - PancakeSwap announced the launch of two transformative features: Gauges Voting and veCAKE. Gauges Voting enables veCAKE holders to influence the distribution of CAKE issuance across key products on the BNB Chain, Ethereum, and Arbitrum. veCAKE holders can directly decide the allocation of CAKE issuance in each pool, thereby rewarding specific liquidity pools and projects.
Arbitrum (DApp) - Arbitrum has introduced a new proposal to increase its STIP incentive budget to a total of 71.4 million ARB, raising it by 21.4 million ARB. The proposal also includes increasing the number of participating protocols by 26, totaling 56 funded projects. Arbitrum's current TVL is US$2.1 billion, marking a 17% increase over the past month.
Circle (DApp) - Stablecoin issuer Circle has launched a cross-chain USDC standard, a new initiative aimed at expanding USDC usage and reducing fragmentation. EVM
blockchains and Rollup chains can deploy a bridged USDC token contract, enabling a seamless future upgrade to natively issued USDC.
Friend.Tech (DApp) - Recently, a significant number of genuine accounts on Friend.tech were mistakenly identified as bots, resulting in these accounts not receiving their weekly points allocation. The community has observed that accounts using default usernames from Twitter, or those combining letters and numbers, are more likely to be flagged as bots by Friend.tech. Over the past week, the protocol's TVL has decreased from a high of US$47 million to the current US$31 million.
Jupiter Exchange (DApp) - Solana-based ecosystem aggregator Jupiter Exchange has announced the details of the JUP community airdrop. Out of a total of 10 billion JUP tokens, 40% will be distributed to the community over four rounds of airdrops, with the first round distributing 10% (1 billion tokens). Wallets that interacted directly with Jupiter before November 2, totaling 955,000, are eligible for the airdrop. There will also be subsequent airdrops targeting new users.
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. It has recently completed its TGE, and the VRTX token was initially listed on Bitget, Bybit, and KuCoin exchanges.
4.Twitter Hot Topics:
BONK (Token) - A memecoin on the Solana chain, BONK has seen an approximate 22x increase in value over the past 30 days. With the resurgence of SOL, there has been a noticeable increase in speculative investment activities for BONK. Recently, Binance listed contract trading pairs on BONK, further fueling the hype. It is advisable to keep this token on your radar.
5.Regional Trending Searches:
BTC (Token) - After the market experienced the U.S. Department of Justice's crypto review, the other shoe has dropped, releasing a potential hidden risk effectively. Following this, BTC saw a rapid increase in value yesterday, breaking through US$37,500, and is expected to challenge the US$38,000 mark soon.
Main Body
Written by: Bitget Research
Data collection time: November 23, 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)
5) In this report, the term "Entity" refers to both Contract Account (CA) and Ethereum Original Account (EOA), and is not a result of the aggregation of actual entity addresses.
1.BTC Profile - BRC-20
RATS (Token) - This is a memecoin in the BRC-20 sector representing rats. It has recently experienced a pullback along with the BRC-20 sector's leading token. With a strong market consensus, it was the first to rebound. Its 24-hour trading volume is US$1.18 million, maintaining its position as the second-largest BRC-20 token on the chain by trading volume, with a market cap of US$75.2 million.
2.Blockchain Profile - ETH Chain
2.1 User Profile
2.1.1 Core Data
Total active users on ETH: 422,270
New active users on ETH: 80,510, with a daily increase of 5.51%
Existing active users on ETH: 341,760, with a daily increase of 1.50%
2.1.2 New User Profile
Core data: There were a total of 80,510 new active users on ETH yesterday, with a daily increase of 5.51%
Popular Sectors
Popular Projects
Key Projects:
Blast (DApp) - The Layer 2 network Blast, launched by Blur's founder Pacman, currently holds a total asset value of over US$250 million in its contract address. The two largest assets are ETH and USDT, valued at US$170 million and US$165 million, respectively. The network has attracted funds from 37,131 addresses.
2.1.3 Existing User Profile
Core data: The number of ETH active existing users is 341,760, with a daily increase of 1.50%
Popular Sectors
Popular Projects
Key Projects:
Blur (DApp) - BLUR, in collaboration with Blast, has developed Blur Season 3. 50% of the rewards from Season 3 will be distributed to $BLUR holders. Depositing $BLUR earns holder points, which are awarded hourly based on the amount of $BLUR deposited. Currently, the total amount staked is 336 million $BLUR, valued at US$166 million.
2.2 Popular Trading Pairs
2.2.1 Uniswap V2
GDAG (Token) - An ERC-20 token deployed by early KAS miners, GDAG employs a 4/0 buy and sell tax to fund the KAS miners' ecosystem. The tax generated from this project is primarily used for the purchase and management of IceRiver and BitMain KAS mining rigs. In the future, holding GDAG will yield mining profits. Currently, GDAG has a market cap of US$4 million, a 24-hour trading volume of US$2 million, and a liquidity pool of US$1 million.
2.2.2 Uniswap V3
CZ (Token) - Following CZ's admission of guilt in anti-money laundering and violating U.S. sanctions, and Binance's comprehensive settlement agreement with the U.S., a memecoin named CZ emerged in the market. It became one of the most popular tokens on the chain, with its market cap skyrocketing from tens of thousands of dollars to over ten million dollars at one point. Its 24-hour trading volume stands at US$9 million.
2.3 Popular NFTs
2.3.1 Top NFT Collections
YogaPetz (NFT) - An NFT from a Web3 health ecosystem. The project, in partnership with Bandai Namco Group, has issued several renowned NFTs like Kubz and Keungz Genesis. In the past 24 hours, its trading volume surged, with 1479 transactions amounting to 732 ETH. The project has 3285 holders.
3.Blockchain Profile - BSC
3.1 User Profile
3.1.1 Core Data
Total active users on BSC: 1,008,054
New active users on BSC: 165,875, with a daily increase of 19.59%
Existing active users on BSC: 842,179, with a daily increase of 0.30%
3.1.2 New User Profile
Core data: There were a total of 165,875 new active users on BSC yesterday, with a daily increase of 19.59%
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. TinyTap is accessible on iOS, Android, and web platforms.
3.1.3 Existing User Profile
Core data: The number of BSC active existing users is 842,179, with a daily increase of 0.30%
Popular Sectors
Popular Projects
Key Projects:
PancakeSwap (DApp) - PancakeSwap announced the launch of two transformative features: Gauges Voting and veCAKE. Gauges Voting enables veCAKE holders to influence the distribution of CAKE issuance across key products on the BNB Chain, Ethereum, and Arbitrum. veCAKE holders can directly decide the allocation of CAKE issuance in each pool, thereby rewarding specific liquidity pools and projects.
3.2 Popular Trading Pairs
3.2.1 PancakeSwap V2
Yesterday, no new significantly popular tokens emerged on the BSC.
4.Blockchain Profile - Polygon Chain
4.1 User Profile
4.1.1 Core Data
Total active users on Polygon: 487,192
New active users on Polygon: 88,306, with a daily decrease of 6.88%
Existing active users on Polygon: 398,886, with a daily increase of 12.96%
4.1.2 New User Profile
Core data: There were a total of 88,306 new active users on Polygon yesterday, with a daily decrease of 6.88%
Popular Sectors
Popular Projects
Key Projects:
Port3 Aggregator (DApp) - Port3 is a social data oracle project incubated by Binance Labs. Its main features include the creation of a decentralized social data oracle based on data aggregation, and providing open data layer services for various Web3 identities and asset applications. It also introduces an incentive layer to empower contributors, aiming to ensure user data ownership. Port3's social data oracle aims to address three core issues: data organization and connectivity, data rights ownership by users, and user privacy protection.
4.1.3 Existing User Profile
Core Data: The number of Polygon active existing users is 398,886, with a daily increase of 12.96%
Popular Sectors
Popular Projects
Key Projects:
Project Galaxy (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.
4.2 Popular Trading Pairs
4.2.1 Uniswap V3
There are no particularly notable tokens on Polygon.
5.Blockchain Profile - Arbitrum Chain
5.1 User Profile
5.1.1 Core Data
Total Active Users on Arbitrum: 216,060
New Active Users on Arbitrum: 27,370, with a daily decrease of 3.21%
Existing Active Users on Arbitrum: 188,690, with a daily decrease of 0.70%
5.1.2 New User Profile
Core data: There were a total of 27,370 new active users on Arbitrum yesterday, with a daily decrease of 3.21%
Popular Sectors
Popular Projects
Key Projects:
Arbitrum (DApp) - Arbitrum has introduced a new proposal to increase its STIP incentive budget to a total of 71.4 million ARB, raising it by 21.4 million ARB. The proposal also includes increasing the number of participating protocols by 26, totaling 56 funded projects. Arbitrum's current TVL is US$2.1 billion, marking a 17% increase over the past month.
5.1.3 Existing User Profile
Core data: The number of Arbitrum active existing users is 188,690, with a daily decrease of 0.70%
Popular Sectors
Popular Projects
Key Projects:
Circle (DApp) - Stablecoin issuer Circle has launched a cross-chain USDC standard, a new initiative aimed at expanding USDC usage and reducing fragmentation. EVM blockchains and Rollup chains can deploy a bridged USDC token contract, enabling a seamless future upgrade to natively issued USDC.
5.2 Popular Trading Pairs
5.2.1 Uniswap V3
There are no significant performing tokens on Arbitrum.
6.Blockchain Profile - Base Chain
6.1 User Profile
6.1.1 Core Data
Total Active Users on Base: 62,529
New Active Users on Base: 9,485, with a daily increase of 5.18%
Existing Active Users on Base: 53,044, with a daily increase of 3.97%
6.1.2 New User Profile
Core data: There were a total of 9,485 new active users on Base yesterday, with a daily increase of 5.18%
Popular Sectors
Popular Projects
Key Projects:
Fren Pet (NFT) - A new NFT project on the Base chain. Fren Pet is a cross-chain pet simulation game inspired by Friend.tech and developed jointly by Adam (@surfcoderepeat) and Cadu (@cadu_veloso). Some influencers are actively promoting the project on social media. Currently, the DApp shows average stability, with instances of downtime that were quickly resolved. It is worth keeping an eye on for future developments.
6.1.3 Existing User Profile
Core data: The number of Base active existing users is 53,044, with a daily increase of 3.97%
Popular Sectors
Popular Projects
Key Projects:
Friend.Tech (DApp) - Recently, a significant number of genuine accounts on Friend.tech were mistakenly identified as bots, resulting in these accounts not receiving their weekly points allocation. The community has observed that accounts using default usernames from Twitter, or those combining letters and numbers, are more likely to be flagged as bots by Friend.tech. Over the past week, the protocol's TVL has decreased from a high of US$47 million to the current US$31 million.
7. DApp Ecosystem - All Chains
Pixels (DApp) - Pixels is a blockchain-based, immersive, open-world MMO game. It leverages the power of Web3 to realize digital ownership for players and has created an engaging world where players can explore, complete tasks, and collaborate. The Pixels game was initially launched with a core mechanism centered around farming, cooking, and questing, and has gradually added social features such as trading, achievements, and leaderboards to foster interaction among players.
8.DApp Ecosystem - ETH Chain
Manifold (DApp) -
A creator platform that allows artists to create NFTs using componentized product releases for smart contracts. It also serves as a platform for users to mint NFTs. Artists can create their own single-page auction websites through the Gallery application in the Manifold Studio. Previously, the platform collaborated with several prominent artists and studios, generating substantial income for these artists.
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. TinyTap is accessible on iOS, Android, and web platforms.
10.DApp Ecosystem - Polygon Chain
Galxe (DApp) - Galxe 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.
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
Jupiter Exchange (DApp) - Solana-based ecosystem aggregator Jupiter Exchange has announced the details of the JUP community airdrop. Out of a total of 10 billion JUP tokens, 40% will be distributed to the community over four rounds of airdrops, with the first round distributing 10% (1 billion tokens). Wallets that interacted directly with Jupiter before November 2, totaling 955,000, are eligible for the airdrop. There will also be subsequent airdrops targeting new users.
13.DApp Ecosystem - Arbitrum Chain
Sushi (DApp) - The multi-chain decentralized exchange Sushi has announced its launch on the Aptos blockchain, marking Sushi's first deployment on a non-EVM chain. Sushi introduced its v2 AMM on Aptos and will soon launch SushiXSwap. This integration allows users to swap tokens across the Aptos blockchain and more than 30 networks, including Ethereum, Arbitrum, Polygon, Optimism, BNB Chain, and Base.
14.DApp Ecosystem - Base Chain
Aerodrome (DApp) - Aerodrome is an emerging automated market maker (AMM) protocol aimed to become the central liquidity hub for Coinbase's Layer 2 chain, Base. Aerodrome's design is inspired by the Velodrome V2 model to incentivize liquidity on the protocol. Despite past collaborations, Aerodrome operates independently of Velodrome. AERO, Aerodrome's utility and governance token, allows holders to lock their tokens and receive veAERO NFTs and voting power based on the lock-up period. The protocol also permits external protocols to incentivize specific liquidity pools through "bribes," increasing liquidity more efficiently than the amount spent on bribes.
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, and the crypto community highly favors that. With the advantage of being an early player in the market, Maestro has established a substantial user base. Currently, Maestro's daily transaction fees have increased to previous high points, ranging between US$150,000 and US$200,000, which helps it maintain its top position in the BOT sector.
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
CoinTool (DApp) - A renowned on-chain toolbox, CoinTool, is frequently used for batch mining XEN. XEN is a social mining project based on the Proof of Participation (PoP) mechanism, enabling any
cryptocurrency user to connect a compatible Web3 wallet and mint XEN tokens on Ethereum. The tokenomics of this project depends on the number of users and the mint period. As the number of participants increases, the difficulty of minting also rises, reducing the supply.
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. It has recently completed its TGE, and the VRTX token was initially listed on Bitget, Bybit, and KuCoin exchanges.
20.Gas Fee Consumption - Base Chain
Fren Pet (DApp) - Fren Pet is currently the most interacted DApp on the Base chain, with its contract holding 127.6 ETH. With a notably active player base, it is advisable to continue monitoring this DApp closely.
21.Top Trending Tokens on Twitter
BONK (Token) - A memecoin on the Solana chain, BONK has seen an approximate 22x increase in value over the past 30 days. With the resurgence of SOL, there has been a noticeable increase in speculative investment activities for BONK. Recently, Binance listed contract trading pairs on BONK, further fueling the hype. It is advisable to keep this token on your radar.
22.Google Trends - Global
BTC (Token) - After the market experienced the U.S. Department of Justice's crypto review, the other shoe has dropped, releasing a potential hidden risk effectively. Following this, BTC saw a rapid increase in value yesterday, breaking through US$37,500, and is expected to challenge the US$38,000 mark soon.
23.Google Trends Surge - East Asia, South Asia, Southeast Asia, Hong Kong, Macau, and Taiwan
a) South Asia Region
India Trends: ETH, YFI, AMP, TOKEN, IRC, FTM
Pakistan Trends: Coinbase, Bitget, Defi
b) Southeast Asia Region
Malaysia Trends: SOL, LUNC, AVAX, SOL, ADA, BTC
Vietnam Trends:
Tradingview, Coinmarketcap
Singapore Trends: Crypto Bubble, BTC, SOL, ETH, AVAX, XRP
c) East Asia and Hong Kong, Macau, and Taiwan
Trends:
Crypto News, BTC
24.Google Trends Surge - English-speaking Countries, Europe, CIS Region
a) CIS Region
Trends: Crypto bubbles, Airdrop
b) English-speaking Countries
Australia Trends: Sidus, YFI, AGL, SOL, XPR, FTM, JOE
UK Trends: SHIB, NEO, INJ, FET, FTM, AVAX
USA Trends: AVAX, BENQI, OSMOSIS, YFI, ORDI
Canada Trends: HEX, Celsius, ORDI, Casper, ADA, XLM, AVAX
c) Europe
France Trends: XLM, BAX, PKN
Poland Trends: Airdrop, LUNA, BTC
Switzerland Trends: TAO, ICP, XRP, SHIB
Turkey Trends: Investing, Mining
Germany Trends: KAS, MICA, SOL, Casper, ADA, SHIB, XRP, ELRD
Italy Trends: Polygon, BTC, PIVX, ETH, TRX, ICP, SLP, CAKE
25.Google Trends Surge - Middle East, Latin America, Africa
a) Africa
South Africa Trends: AVAX, ADA
Nigeria Trends: Etoro, Crypto
b) Middle East
UAE Trends: coinmarketcap, Crypto News
c) Latin America
Brazil Trends: ARB, DAI, SOL, AVAX
Argentina Trends: SOL, RUNE, YFI, AVAX, SHIB
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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