Bitget Research Institute: US stocks hit new highs to drive cryptocurrencies up, and the exhaustion of incremental BTC short-term holders suggests we

In the past 24 hours, many new hot currencies and topics have appeared in the market, and it is very likely that they will be the next opportunity to make money.

Cryptocurrencies surged as the Federal Reserves aggressive rate cuts boosted confidence among traders of risk assets across the board. Among them:

• The sectors with strong wealth-creating effects are: Solana Meme and Restaking sectors;

• The most popular tokens and topics searched by users are: Tensor, Bonfida, APY crypto meaning;

• Potential airdrop opportunities include: Owlto Finance, Major;

Data statistics time: September 20, 2024 4: 00 (UTC + 0)

1. Market environment

Cryptocurrencies surged as the Federal Reserves aggressive rate cut boosted confidence among traders of risk assets across the board, and the move could mark the start of an easing cycle by the U.S. central bank, with Bitcoin prices rising nearly 6% from Wednesdays drop below $60,000 to near $64,000 yesterday. Trading sentiment for cryptocurrencies was also boosted by yesterdays gains in the SP 500 and Nasdaq, which rose 1.7% and 2.5%, respectively.

According to TheBlock, CryptoQuant data shows that the 30-day increment of short-term Bitcoin holders (STH) has dropped to the lowest level since 2012. This also means a significant reduction in new demand in the Bitcoin market. Since new demand from short-term holders is needed to maintain price increases, Bitcoins further upward momentum is currently weak.

2. Wealth-making sector

1) Sector changes: Solana Meme (BILLY, MANEKI)

main reason:

• Kyle Samani, co-founder and managing partner of Multicoin Capital, spoke at the roundtable discussion on the theme of Why SOL Will Flip ETH on the first day of the TOKEN 2049 main venue, saying that in terms of total validator fees paid to Ethereum and Solana holders in their respective systems, some weeks Ethereum has higher returns, and some weeks Solana has higher returns. These indicators are now basically evenly matched.

• The price of SOL has rebounded, the panic over ecological assets has eased, and liquidity has shown signs of temporarily improving, driving up the overall ecological assets.

Rising situation:

BILLY and MANEKI rose 17.59% and 12.25% respectively in 24 hours;

Factors affecting the market outlook:

SOL token trend: In the Solana ecosystem, the trend of SOL tokens will affect the price of the entire ecosystem token, because many tokens on DEX are priced in SOL. Continue to pay attention to the price trend of SOL. If SOL maintains an upward trend, you can continue to hold SOL ecosystem assets.

Increase or decrease in open interest: SOLs open interest rose yesterday, indicating an influx of hot money. Use the contract data on the tv.coinglass website to understand the movement of the main funds. First, look at the increase in net long positions on the contract; then look at whether the contract data shows a net increase in long positions, an increase in OI, and an increase in trading volume. If so, it means that the main force continues to buy up and can continue to hold.

2) The sector that needs to be focused on in the future: Restaking sector

main reason:

Ether.fi has launched the EIGEN airdrop query portal, with a total of 16,480,753 EIGEN tokens allocated to eETH re-staking users. The EIGEN token transfer function will be enabled at the end of September. With EIGEN about to go online, there may be a wave of market for Restaking projects in the future.

Specific currency list:

ETHFI: It was the first among the Restaking projects to hold TGE and carried out the first round of airdrops of its ETHFI tokens, which brought a significant wealth effect;

EIGEN: Based on the Ethereum Restake protocol, it is currently the leading project with the largest market value and the highest TVL;

REZ: One of the core projects in the Restaking track, with a current TV L of 1 billion US dollars;

3. User Hot Searches

1) Popular Dapps

Tensor (Dapp)

Richard Wu, co-founder of Solana’s NFT trading platform Tensor, recently announced that

1. Tensor is now fully open source (including 5 protocols such as NFT market) and has hosted a free and fully customized Web2 API.

2. The Tensor NFT market fee is set as follows: 50% of the Tensor fee belongs to the developer, and 50% is allocated to the Tensor Foundation treasury.

3. The Tensor Foundation has also opened a grant program and you can apply for token grants now. Tensor has been developing a new product for the past month.

Tensor is the leading NFT trading market in the Solana ecosystem. The current token price is $0.38 and it has been listed on Bitget. The project has a good position and strong product delivery capabilities. The token may perform well in the future, so you can continue to pay attention.

2) Twitter

Bonfida (FIDA)

The project is the leading domain name service provider in the Solana ecosystem, providing Solana Name Service services. The Solana public chain is characterized by high performance. In the future application era, the project may become an important infrastructure. In the past 24 hours, Binance launched the FIDA contract trading pair, which attracted widespread attention from the community and the price of the token increased. Combined with the improvement of macro liquidity, the token price may rebound for a while. Bitget has launched the asset, which can be continued.

3) Google Search Region

From a global perspective:

APY crypto meaning:

APY stands for Annual Percentage Yield. In a volatile market, users are paying more attention to financial products of crypto assets. Bitget provides structured products such as dual-currency financial management and interval hunters, providing high-interest coin-based products to users. In addition to structured products, the returns of Bitgets staking, fixed deposits and other products are also higher than those of similar competitors in the market.

From the hot searches in each region:

(1) Grass is the main focus of CIS and other regions. In addition, Crypto Bubble has become a hot search in Ukraine, Russia and other regions, indicating that CIS pays more attention to the secondary market.

(2) Hot searches in Europe and the United States are scattered, mainly focusing on projects that have seen very good growth in the recent period, including: FIDA, FTM, GALA, AERO and other projects;

(3) Asian users pay more attention to weighted coins, including BTC, SOL, ETH, MATIC, etc. The search volume for Crypto Exchange in the Middle East has increased.

Potential Airdrop Opportunities

Owlto Finance

Owlto Finance is a decentralized Cross-Rollup cross-chain bridge focusing on Layer 2. Currently, it supports users to cross-chain between more than 15 L2s including Ethereum mainnet, zkSync Era, Starknet, etc.

Owlto Finances financing valuation has reached 150 million US dollars. It is the cross-chain bridge ranked first in cross-chain volume within 24 hours on DefiLlama, with a market share of 33%.

The specific participation method is as follows: the project started the Metaverse Owlypics cross-chain airdrop event on August 28, with a prize pool of $34,000. The event lasted for two weeks and supported interactions and earning rewards on Arbitrum, Optimism, Linea, Scroll, Base, Blast, Taiko, and BOB networks.

Major

Major is a minimalist game based on Telegram. The only goal of the player is to get more stars. The more stars you have, the higher your ranking and the more generous the rewards you can get. Players can get stars through standard modes such as daily tasks, recruiting people, and completing information. Bitget has launched a pre-market market, where you can place some pre-market sell orders according to the situation and directly lock in profits.

In the game, the only goal of Major players is to get more stars. The more stars you have, the higher your ranking and the more generous the rewards you can get. Currently, Major provides TON token rewards to the top 100 users in the weekly ranking: 150 for the first place; 100 for the second place; 70 for the third place; 50 for each of the 4th to 4th place; 20 for each of the 6th to 10th place; and 5 for each of the 11th to 100th place.

Specific operation method: 1) You can get initial stars after entering the game; 2) You can further get more stars through daily tasks in the task bar, recruiting people, completing information, etc.

More information about Bitget Research Institute: https://www.bitget.fit/zh-CN/research

Bitget Research Institute focuses on focusing on on-chain data and mining valuable assets. It mines cutting-edge value investments through real-time monitoring of on-chain data and regional hot searches, and provides institutional-level insights for crypto enthusiasts. So far, it has provided Bitgets global users with early-stage valuable assets in multiple popular sectors such as [Arbitrum Ecosystem], [AI Ecosystem], and [SHIB Ecosystem]. Through in-depth data-driven research, it creates a better wealth effect for Bitgets global users.

【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.