Your language is currently not supported and you've been automatically directed to the English article.- Bitget
- Research
- Daily Research Report
- Bitget Research: FTX May Sell Assets to Repay User Funds, Altcoins Break Support and Drop Sharply
Bitget Research: FTX May Sell Assets to Repay User Funds, Altcoins Break Support and Drop Sharply
Bitget Research
2023/09/11
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:
PICKLE (Token) - A PEPE replica that gained significant attention yesterday with many influencers promoting in the community, including Moon Walker (11K followers), Pepetoshi Nakamoto (48.5K followers), Whale Morito (32K followers), and Thor (60.7K followers). The token has a 24-hour trading volume of US$3.4 million on DEX, 7662 transactions, and 1684 unique holders, indicating good participation. The token's current market cap is US$520,000. It is essential to keep an eye on this token.
BABYX (Token) - A
memecoin themed around Elon Musk's son. The token has a 24-hour trading volume of US$1.8 million and a liquidity pool of US$51,000. The project displays considerable trading sentiment with 4284 transactions in the last 24 hours. The token's performance is commendable, making it an essential one to keep an eye on.
PERP (Token) - Perpetual Protocol. The project recently announced its compatibility with the renowned project, DappOS V2, offering smoother trading experiences and the ability to pay gas fees with any asset. Yesterday, they collaborated with GMX and O3 Labs for a joint AMA, persistently developing despite the ongoing bear market. The token previously experienced a surge, which led to the liquidation of short positions. Currently, the token's price is declining, and the significant drop in the past 24 hours has resulted in increased trading volume on DEXs.
RWT (Token) - RevaLink Wallet Token, rumored to be associated with a financial pyramid scheme promoted by Hua Ying Hui. It has on-chain liquidity of US$15 million and a 24-hour trading volume of US$6.7 million. The token price has experienced a continuous sharp decline after an initial rapid increase. There are over 580,000 token holders on-chain, but the risk is high due to significant chip concentration, with the top 6 addresses holding 99% of the chips.
agEUR (Token) - agEUR is backed by Angle Protocol, a stablecoin protocol known for its capital efficiency, decentralization, and over-collateralization. Recently, the Angle Transmuter product issuance was put to a vote on Snapshot. If the vote passes, agEUR's price will no longer be tied to the EURUSD exchange rate, which helps mitigate any market risks associated with USDT/USDC decoupling.
PENDLE (Token) - Binance Labs announced its investment in the DeFi yield protocol Pendle Finance, resulting in a positive performance for the token. Benefiting from the development of the LSD sector, the project's fundamentals continue to improve. In the previous week, Pendle's Ecosystem Fund transferred 5.02 million PENDLE to Binance, approximately US$2.98 million. Following a decline in August, the project has since seen a rebound in its TVL. The project has a solid foundation and is worth continued attention.
2.Popular NFTs:
SUKU (NFT) - The first NFT series entirely created within Twitter. It's created by tagging @Sukuthis in tweets. InfiniteWorld, part of the SUKU ecosystem, focuses on building the infrastructure for the NFT market, particularly for brands and celebrities. They have recently become an official metaverse partner for McLaren Automotive. SUKU has also established an NFT evaluation program called NFT Grade, which can generate assessment reports for NFTs. With this, SUKU has achieved a comprehensive layout from E2E (Engage-to-Earn) solutions to the NFT market.
3.Popular DApps:
Zora (DApp) - Zora is a significant NFT release and a commemorative NFT Free Mint platform within the NFT market. It has launched a Layer 2 network based on OP Stack, and the level of gas consumption indicates a significant usage of it on the OP network. The project has assisted numerous project owners and influencers with NFT releases and has a certain reputation within the community.
Banana Gun (DApp) - The project is a TG Bot that helps users trade on DEXs, with two core features: "Sniper" (targeting newly listed memes) and "Quick Trade." Both features have "anti-rug" and "MEV protection" functionalities to protect investors, with fees of 0.85% and 0.5%. The project has completed its public fundraising, capped at 800ETH. The FDV is US$6.5 million, with an initial circulating market cap of US$1.56 million. The project will have its TGE this week, making it worth monitoring the token's performance.
Floki (DApp) - Over the weekend, Floki hosted its second singing competition on Twitter. Eight winners were selected, with each receiving a reward of US$250. The project has garnered notable attention in the community. The Floki community exhibits strong cohesion and frequently organizes various events.
PlaybuxQuest (DApp) - A metaverse project on the Binance Smart Chain that integrates real-world shops (shop-to-earn), DeFi, NFT, and virtual community promotions. It has recently launched a promotion called "Walk2Win" in partnership with Nike. Users can earn exclusive rewards just by walking. It is essential to keep an eye on this DApp.
The Graph (DApp) - At the end of August, The Graph community decided to expand through Arbitrum, aiming to enhance The Graph's accessibility within the Web3 ecosystem and reduce Gas costs. With the release of new L2 transfer tools, The Graph's core development team has entered the third phase of the Arbitrum expansion. These tools are designed to simplify the process of moving subgraphs, signals, stakes, or delegations to Arbitrum One, enabling all participants in The Graph ecosystem to efficiently and effortlessly engage with The Graph on L2.
LayerZero (DApp) - A cross-chain protocol for different chains, LayerZero facilitates communication between DApps deployed on different
blockchains without the need for any intermediary chains or consensus mechanisms. LayerZero has passed more than 50 million messages between various chains, according to the latest official data. Recently, they attended the Token 2049 event in Singapore, resulting in increased brand visibility. The market is keenly awaiting their token issuance plan.
Friendtech Shares (DApp) - In the past two days, Friendtech's data has shown signs of recovery. Currently, the tota l trading volume stands at 79,355 ETH, while the 24-hour trading volume is 5811 ETH. The total profit is 3750 ETH, and the profit generated in the last 7 days is 1098 ETH. This increase might be related to the anticipated token issuance, making it an important project to keep an eye on.
Aerodrome (DApp) - A ve(3,3) DEX on Base L2, developed and launched in collaboration with the Velodrome and Base teams. Initially, 40% of the circulating veAERO will be airdropped to veVELO users and will be locked for 4 years. The TVL grew rapidly after the product went live. It has since experienced a decline from its initial figure, currently standing at US$151 million.
XCAD Network (DApp) - A Watch2Earn project that acts as a competitor to YouTube, helping creators earn profits through tokens. Users can also earn token rewards by watching their favorite creators. The project token has performed well since July this year, but it is currently experiencing a downward trend which is related to the overall low liquidity in the
crypto market. The project has a solid foundation and is worth continuous attention.
APE Stake (DApp) - Today, the price of altcoins experienced significant fluctuations, declining 8% over 24 hours, prompting market participants to initiate take-profit and stop-loss orders. The number of users withdrawing and staking APE on the APE Staking protocol increased, accelerating the liquidity of APE in the market.
Venom Swap (DApp) - The Venom Network is a Layer 0 blockchain that utilizes the Byzantine fault-tolerant consensus algorithm for block validation, creation, and network security. It employs dynamic sharding to enhance its transaction throughput and network capacity. It has obtained operational permission in the Abu Dhabi market. Venom Swap is a DeFi protocol on the Venom Network, providing token swap services.
Fan TV (DApp) - A Watch 2 Earn platform operating in India. Users can earn platform points by watching their favorite videos. These points can later be exchanged for rewards or other benefits. The project was launched at the end of August and is deployed on Polygon, reportedly boasting a user base of 100,000.
Saber (DApp) - Saber is a decentralized exchange focused on stablecoin swapping that is built on Solana. The project hasn't updated its Twitter in months. Influenced by FTX's expected compensation to its users, the platform's token reached a trading volume of US$100,000 in the past 24 hours. It has been listed on exchanges like Kraken, Bitmart, and Gate.
GMX (DApp) - A leading user contract trading platform on Arbitrum. News surfaced that FTX might liquidate assets to compensate users, causing a significant drop in altcoin prices. This has set off a downward trend and triggered users' take-profit and stop-loss orders. GMX's trading volume increased, and its usage frequency rose yesterday.
BaseSwap (DApp) - BaseSwap was once the largest DEX on the Base chain. However, due to the impact of the Aerodrome's launch on the Base chain, its TVL and trading volume rapidly decreased. Users removed liquidity from BaseSwap and migrated to Aerodrome, causing a short-term increase in BaseSwap's UAW and a 60% decrease in its TVL over the past week.
Sunflower Land (DApp) - This project is a Farming-type GameFi hosted on Polygon. Users can earn tokens by farming, harvesting, cooking, and raising animals on the platform. It was created by an Australian gaming platform. While the project's token has been released, the current trading volume is average. The project has established a user base and is worth keeping an eye on.
Seg Finance (DApp) - The contract address of the CrazyShoes Mall. It is related to the BRC-20 standard token SEG (Shoe Elimination Game). This token has over 20,000 holders, with 95% of the chips concentrated in one EOA address.
XEN (DApp) - XEN has been launched on the Base network and quickly became one of the top projects in terms of gas consumption. The related minting tool, Cointool_App, also ranks high in gas consumption. Currently, XEN's price is at an all-time low, but there's still over US$1 million in liquidity on-chain. Overall trading activity is relatively low.
Vertex (DApp) - Vertex Protocol, a decentralized trading platform built on Arbitrum, announced that it would initiate the VRTX token generation event in October. On September 8, it announced the upcoming launch of a Liquidity Bootstrapping Auction (LBA).
4.Twitter Hot Topics:
ZIG (Token) - Zignaly is a
cryptocurrency investment platform, and its token has been listed on exchanges like Bitget, Gate, Huobi, and others. On September 8th, the official Twitter account posted a short video teaser, hinting at a major update on September 12th. Users are highly anticipating this announcement, with the single tweet receiving over 410,000 views and 5,000+ interactions.
5.Regional Trending Searches:
Bitcoin (Token) - On a macro level, U.S. Treasury yields continued to rise last week, consistent with the hawkish remarks from the Federal Reserve. A simple prediction: Jerome Powell is currently expected to maintain the benchmark interest rate at a high of 5.25-5.5%. This is primarily to assist Janet Yellen, the U.S. Treasury Secretary, in issuing US bonds. By continuously releasing high-interest national bonds, the United States can prevent the outflow of the U.S. dollar and attract U.S. dollars from around the world. It's anticipated that once the bonds have absorbed a certain amount of market liquidity, Powell will gradually reduce the benchmark interest rate. Yellen will then use the available liquidity to repurchase low-interest national bonds, transitioning from high to low-yield bonds. Only then will the SEC begin to gradually ease restrictions on Bitcoin spot ETFs. This will enable Wall Street to rapidly gain exposure to Bitcoin through ETFs. Therefore, it's projected that by the end of 2023 to July 2024, the Federal Reserve will pause rate hikes and start to reduce rates, and ETFs will get approval before the end of 2024. The key focus for this week will be the release of the CPI data on September 13 and the asset sell-off situation of FTX.
Main Body
Written by: Bitget Research
Data collection time: September 11, 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
The BRC-20 sector doesn't have any particularly popular projects, and overall token prices are under pressure.
2.Blockchain Profile - ETH Chain
2.1 User Profile
2.1.1 Core Data
Total active users on ETH: 331,109
New active users on ETH: 67,977, with a daily decrease of 10.98%
Existing active users on ETH: 263,132, with a daily decrease of 6.33%
2.1.2 New User Profile
Core data: There were a total of 67,977 new active users on ETH yesterday, with a daily decrease of 10.98%
Popular Sectors
Popular Projects
Key Projects:
Zora (DApp) - Zora is a significant NFT release and a commemorative NFT Free Mint platform within the NFT market. It has launched a Layer 2 network based on OP Stack, and the level of gas consumption indicates a significant usage of it on the OP network. The project has assisted numerous project owners and influencers with NFT releases and has a certain reputation within the community.
2.1.3 Existing User Profile
Core data: The number of ETH active existing users is 263,132, with a daily decrease of 6.33%
Popular Sectors
Popular Projects
Key Projects:
Banana Gun (DApp) - The project is a TG Bot that helps users trade on DEXs, with two core features: "Sniper" (targeting newly listed memes) and "Quick Trade." Both features have "anti-rug" and "MEV protection" functionalities to protect investors, with fees of 0.85% and 0.5%. The project has completed its public fundraising, capped at 800ETH. The FDV is US$6.5 million, with an initial circulating market cap of US$1.56 million. The project will have its TGE this week, making it worth monitoring the token's performance.
2.2 Popular Trading Pairs
2.2.1 Uniswap V2
PICKLE (Token) - A PEPE replica that gained significant attention yesterday with many influencers promoting in the community, including Moon Walker (11K followers), Pepetoshi Nakamoto (48.5K followers), Whale Morito (32K followers), and Thor (60.7K followers). The token has a 24-hour trading volume of US$3.4 million on DEX, 7662 transactions, and 1684 unique holders, indicating good participation. The token's current market cap is US$520,000. It is essential to keep an eye on this token. https://dexscreener.com/ethereum/0xbf49c7cf663076afc6e2757b88db01e318217312
BABYX (Token) - A memecoin themed around Elon Musk's son. The token has a 24-hour trading volume of US$1.8 million and a liquidity pool of US$51,000. The project displays considerable trading sentiment with 4284 transactions in the last 24 hours. The token's performance is commendable, making it an essential one to keep an eye on. https://dexscreener.com/ethereum/0xbf49c7cf663076afc6e2757b88db01e318217312
2.2.2 Uniswap V3
PERP (Token) - Perpetual Protocol. The project recently announced its compatibility with the renowned project, DappOS V2, offering smoother trading experiences and the ability to pay gas fees with any asset. Yesterday, they collaborated with GMX and O3 Labs for a joint AMA, persistently developing despite the ongoing bear market. The token previously experienced a surge, which led to the liquidation of short positions. Currently, the token's price is declining, and the significant drop in the past 24 hours has resulted in increased trading volume on DEXs. https://www.bitget.com/en-GB/spot/ PERPUSDT?type=spot
3.Blockchain Profile - BSC Chain
3.1 User Profile
3.1.1 Core Data
Total active users on BSC: 882,530
New active users on BSC: 124,860, with a daily decrease of 6.57%
Existing active users on BSC: 757,670, with a daily decrease of 0.92%
3.1.2 New User Profile
Core data: There were a total of 124,860 new active users on BSC yesterday, with a daily decrease of 6.57%
Popular Sectors
Popular Projects
Key Projects:
Floki (DApp) - Over the weekend, Floki hosted its second singing competition on Twitter. Eight winners were selected, with each receiving a reward of US$250. The project has garnered notable attention in the community. The Floki community exhibits strong cohesion and frequently organizes various events.
3.1.3 Existing User Profile
Core data: The number of BSC active existing users is 757,670, with a daily decrease of 0.92%
Popular Sectors
Popular Projects
Key Projects:
PlaybuxQuest (DApp) - A metaverse project on the Binance Smart Chain that integrates real-world shops (shop-to-earn), DeFi, NFT, and virtual community promotions. It has recently launched a promotion called "Walk2Win" in partnership with Nike. Users can earn exclusive rewards just by walking. It is essential to keep an eye on this DApp.
3.2 Popular Trading Pairs
3.2.1 PancakeSwap V2
RWT (Token) - RevaLink Wallet Token, rumored to be associated with a financial pyramid scheme promoted by Hua Ying Hui. It has on-chain liquidity of US$15 million and a 24-hour trading volume of US$6.7 million. The token price has experienced a continuous sharp decline after an initial rapid increase. There are over 580,000 token holders on-chain, but the risk is high due to significant chip concentration, with the top 6 addresses holding 99% of the chips.
4.Blockchain Profile - Polygon Chain
4.1 User Profile
4.1.1 Core Data
Total active users on Polygon: 366,755
New active users on Polygon: 78,009, with a daily decrease of 19.75%
Existing active users on Polygon: 288,746, with a daily decrease of 4.11%
4.1.2 New User Profile
Core data: There were a total of 78,009 new active users on Polygon yesterday, with a daily decrease of 19.75%
Popular Sectors
Popular Projects
Key Projects:
PENTON (Token) - Numerous transfer activities were observed on-chain for this project two days ago. No related project backing or support for these actions has been identified. Caution is advised for this project.
SUKU (NFT) - The first NFT series entirely created within Twitter. It's created by tagging @Sukuthis in tweets. InfiniteWorld, part of the SUKU ecosystem, focuses on building the infrastructure for the NFT market, particularly for brands and celebrities. They have recently become an official metaverse partner for McLaren Automotive. SUKU has also established an NFT evaluation program called NFT Grade, which can generate assessment reports for NFTs. With this, SUKU has achieved a comprehensive layout from E2E (Engage-to-Earn) solutions to the NFT market.
4.1.3 Existing User Profile
Core Data: The number of Polygon active existing users is 288,746, with a daily decrease of 4.11%
Popular Sectors
Popular Projects
Key Projects:
OPEX (Token) - OPEX offers flexible, open-source
blockchain technology. It helps users move their assets to the blockchain by converting funds into stablecoins. Multiple on-chain transactions for the token occurred a day ago. The token is not listed on any DEX, and its trading intent is unclear.
4.2 Popular Trading Pairs
4.2.1 Uniswap V3
agEUR (Token) - agEUR is backed by Angle Protocol, a stablecoin protocol known for its capital efficiency, decentralization, and over-collateralization. Recently, the Angle Transmuter product issuance was put to a vote on Snapshot. If the vote passes, agEUR's price will no longer be tied to the EURUSD exchange rate, which helps mitigate any market risks associated with USDT/USDC decoupling.
5.Blockchain Profile - Arbitrum Chain
5.1 User Profile
5.1.1 Core Data
Total Active Users on Arbitrum: 132,690
New Active Users on Arbitrum: 20,892, with a daily decrease of 14.75%
Existing Active Users on Arbitrum: 111,798, with a daily decrease of 2.94%
5.1.2 New User Profile
Core data: There were a total of 20,892 new active users on Arbitrum yesterday, with a daily decrease of 14.75%
Popular Sectors
Popular Projects
Key Projects:
The Graph (DApp) - At the end of August, The Graph community decided to expand through Arbitrum, aiming to enhance The Graph's accessibility within the Web3 ecosystem and reduce Gas costs. With the release of new L2 transfer tools, The Graph's core development team has entered the third phase of the Arbitrum expansion. These tools are designed to simplify the process of moving subgraphs, signals, stakes, or delegations to Arbitrum One, enabling all participants in The Graph ecosystem to efficiently and effortlessly engage with The Graph on L2.
5.1.3 Existing User Profile
Core data: The number of Arbitrum active existing users is 111,798, with a daily decrease of 2.94%
Popular Sectors
Popular Projects
Key Projects:
LayerZero (DApp) - A cross-chain protocol for different chains, LayerZero facilitates communication between DApps deployed on different
blockchains without the need for any intermediary chains or consensus mechanisms. LayerZero has passed more than 50 million messages between various chains, according to the latest official data. Recently, they attended the Token 2049 event in Singapore, resulting in increased brand visibility. The market is keenly awaiting their token issuance plan.
5.2 Popular Trading Pairs
5.2.1 Uniswap V3
PENDLE (Token) - Binance Labs announced its investment in the DeFi yield protocol Pendle Finance, resulting in a positive performance for the token. Benefiting from the development of the LSD sector, the project's fundamentals continue to improve. In the previous week, Pendle's Ecosystem Fund transferred 5.02 million PENDLE to Binance, approximately US$2.98 million. Following a decline in August, the project has since seen a rebound in its TVL. The project has a solid foundation and is worth continued attention.
6.Blockchain Profile - Base Chain
6.1 User Profile
6.1.1 Core Data
Total Active Users on Base: 69,122
New Active Users on Base: 13,769, with a daily increase of 11.91%
Existing Active Users on Base: 55,353, with a daily increase of 3.55%
6.1.2 New User Profile
Core data: There were a total of 13,769 new active users on Base yesterday, with a daily increase of 11.91%
Popular Sectors
Popular Projects
Key Projects:
Friendtech Shares (DApp) - In the past two days, Friendtech's data has shown signs of recovery. Currently, the total trading volume stands at 79,355 ETH, while the 24-hour trading volume is 5811 ETH. The total profit is 3750 ETH, and the profit generated in the last 7 days is 1098 ETH. This increase might be related to the anticipated token issuance, making it an important project to keep an eye on.
6.1.3 Existing User Profile
Core data: The number of Base active existing users is 55,353, with a daily increase of 3.55%
Popular Sectors
Popular Projects
Key Projects:
Aerodrome (DApp) - A ve(3,3) DEX on Base L2, developed and launched in collaboration with the Velodrome and Base teams. Initially, 40% of the circulating veAERO will be airdropped to veVELO users and will be locked for 4 years. The TVL grew rapidly after the product went live. It has since experienced a decline from its initial figure, currently standing at US$151 million.
7. DApp Ecosystem - All Chains
XCAD Network (DApp) - A Watch2Earn project that acts as a competitor to YouTube, helping creators earn profits through tokens. Users can also earn token rewards by watching their favorite creators. The project token has performed well since July this year, but it is currently experiencing a downward trend which is related to the overall low liquidity in the crypto market. The project has a solid foundation and is worth continuous attention.
8.DApp Ecosystem - ETH Chain
APE Stake (DApp) - Today, the price of altcoins experienced significant fluctuations, declining 8% over 24 hours, prompting market participants to initiate take-profit and stop-loss orders. The number of users withdrawing and staking APE on the APE Staking protocol increased, accelerating the liquidity of APE in the market.
9.DApp Ecosystem - BSC Chain
Venom Swap (DApp) - The Venom Network is a Layer 0 blockchain that utilizes the Byzantine fault-tolerant consensus algorithm for block validation, creation, and network security. It employs dynamic sharding to enhance its transaction throughput and network capacity. It has obtained operational permission in the Abu Dhabi market. Venom Swap is a DeFi protocol on the Venom Network, providing token swap services.
10.DApp Ecosystem - Polygon Chain
Fan TV (DApp) - A Watch 2 Earn platform operating in India. Users can earn platform points by watching their favorite videos. These points can later be exchanged for rewards or other benefits. The project was launched at the end of August and is deployed on Polygon, reportedly boasting a user base of 100,000.
11.DApp Ecosystem - WAX Chain
The WAX ecosystem has no new trending projects at the moment, with the primary UAW concentrated on the top two projects.
12.DApp Ecosystem - Solana Chain
Saber (DApp) - Saber is a decentralized exchange focused on stablecoin swapping that is built on Solana. The project hasn't updated its Twitter in months. Influenced by FTX's expected compensation to its users, the platform's token reached a trading volume of US$100,000 in the past 24 hours. It has been listed on exchanges like Kraken, Bitmart, and Gate.
13.DApp Ecosystem - Arbitrum Chain
GMX (DApp) - A leading user contract trading platform on Arbitrum. News surfaced that FTX might liquidate assets to compensate users, causing a significant drop in altcoin prices. This has set off a downward trend and triggered users' take-profit and stop-loss orders. GMX's trading volume increased, and its usage frequency rose yesterday.
14.DApp Ecosystem - Base Chain
BaseSwap (DApp) - BaseSwap was once the largest DEX on the Base chain. However, due to the impact of the Aerodrome's launch on the Base chain, its TVL and trading volume rapidly decreased. Users removed liquidity from BaseSwap and migrated to Aerodrome, causing a short-term increase in BaseSwap's UAW and a 60% decrease in its TVL over the past week.
15.DApp Ecosystem - GameFi Sector Across All Chains
Sunflower Land (DApp) - This project is a Farming-type GameFi hosted on Polygon. Users can earn tokens by farming, harvesting, cooking, and raising animals on the platform. It was created by an Australian gaming platform. While the project's token has been released, the current trading volume is average. The project has established a user base and is worth keeping an eye on.
16.Gas Fee Consumption - ETH Chain
BananaGun (Token) - On September 9, the highly watched Bot project in the community completed its presale goal of 800 ETH. On September 10, the project announced that it would release its token and add liquidity between UTC 18:00-21:00 on September 11. Additionally, slight modifications have been made to the tokenomics: TGE market cap increased from US$1.57 million to US$1.63 million. Furthermore, the liquidity will be locked on UNCX for several years. This project is worth keeping an eye on.
17.Gas Fee Consumption - BSC Chain
Seg Finance (DApp) - The contract address of the CrazyShoes Mall. It is related to the BRC-20 standard token SEG (Shoe Elimination Game). This token has over 20,000 holders, with 95% of the chips concentrated in one EOA address.
18.Gas Fee Consumption - Polygon Chain
XEN (DApp) - XEN has been launched on the Base network and quickly became one of the top projects in terms of gas consumption. The related minting tool, Cointool_App, also ranks high in gas consumption. Currently, XEN's price is at an all-time low, but there's still over US$1 million in liquidity on-chain. Overall trading activity is relatively low.
19.Gas Fee Consumption - Arbitrum Chain
Vertex (DApp) - Vertex Protocol, a decentralized trading platform built on Arbitrum, announced that it would initiate the VRTX token generation event in October. On September 8, it announced the upcoming launch of a Liquidity Bootstrapping Auction (LBA).
20.Gas Fee Consumption - Base Chain
Friendtech (DApp) - In the past two days, Friendtech's data has shown signs of recovery. Currently, the total trading volume stands at 79,355 ETH, while the 24-hour trading volume is 5811 ETH. The total profit is 3750 ETH, and the profit generated in the last 7 days is 1098 ETH. This increase might be related to the anticipated token issuance, making it an important project to keep an eye on.
21.Twitter Trends Token Top Rank
ZIG (Token) - Zignaly is a cryptocurrency investment platform, and its token has been listed on exchanges like Bitget, Gate, Huobi, and others. On September 8th, the official Twitter account posted a short video teaser, hinting at a major update on September 12th. Users are highly anticipating this announcement, with the single tweet receiving over 410,000 views and 5,000+ interactions.
22.Google Trends - Global
Bitcoin (Token) - On a macro level, U.S. Treasury yields continued to rise last week, consistent with the hawkish remarks from the Federal Reserve. A simple prediction: Jerome Powell is currently expected to maintain the benchmark interest rate at a high of 5.25-5.5%. This is primarily to assist Janet Yellen, the U.S. Treasury Secretary, in issuing US bonds. By continuously releasing high-interest national bonds, the United States can prevent the outflow of the U.S. dollar and attract U.S. dollars from around the world. It's anticipated that once the bonds have absorbed a certain amount of market liquidity, Powell will gradually reduce the benchmark interest rate. Yellen will then use the available liquidity to repurchase low-interest national bonds, transitioning from high to low-yield bonds. Only then will the SEC begin to gradually ease restrictions on Bitcoin spot ETFs. This will enable Wall Street to rapidly gain exposure to Bitcoin through ETFs. Therefore, it's projected that by the end of 2023 to July 2024, the Federal Reserve will pause rate hikes and start to reduce rates, and ETFs will get approval before the end of 2024. The key focus for this week will be the release of the CPI data on September 13 and the asset sell-off situation of FTX.
23.Google Trends Surge - East Asia, South Asia, Southeast Asia, Hong Kong, Macau, and Taiwan
a) South Asia Region
India Trending Tokens: CAKE, STORJ, JASMY
Pakistan Trending Keywords: Crypto bubbles, bitcoin to pkr, Faucet pay
b) Southeast Asia Region
Philippines Trending Keywords: usd to php, slp to php
Singapore Trending Keywords: FTX
Indonesia Trending Keywords: Crypto bubble, Coinmatketcap, degree crypto token
Thailand Trending Tokens: Coinmarketcap,
Crypto news
c) East Asia and Hong Kong, Macau, and Taiwan Trending Tokens and Keywords: XDC, COCOS, Crypto meaning, Crypto news
24.Google Trends Surge - English-speaking Countries, Europe, CIS Region
a) CIS Region Trending Keywords: Crypto summit, Crypto casino, Crypto bubbles
b) English-speaking Countries
Canada Trending Tokens: GALA, SOL, XRP
Australia Trending Tokens: XRP, GALA, ADA
UK Trending Tokens: PHANTOM, ETH, DAWN
USA Trending Tokens: SOL, GFI, PRIME
c) Europe
Spain Trending Tokens: AVAX, SOL, BCH
Germany Trending Keywords: QNT, XRP, BTC, ADA
France Trending Tokens: MATIC, AVAX, EGLD
Italy Trending Tokens: GALA, WSM, SOL
Turkey Trending Keywords: Free bitcoin, metamask, Crypto news, Crypto fund trader, coinpayu
25.Google Trends Surge - Middle East, Latin America, Africa
a) Africa
Nigeria Trending Keywords: Coinbase, what is Crypto currency, Crypto logo
South Africa Trending Tokens:
BTC Price usd
b) Middle East Trending Keywords: Crypto News, Crypto bubbles, binance, Crypto marketcap
c) Latin America
Brazil Trending Tokens: XRD, SOL, BTC, AGIX, MATIC
Argentina Trending Tokens: SHIB
Mexico Trending Keywords: Renewable energy
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
Bitget Research: Fed Cuts Interest Rates by 50bps, Market Sentiment Improves as Altcoins RallyIn the past 24 hours, many new popular tokens and topics have emerged in the market, presenting potential wealth-creation opportunities.
Bitget Research: Bitcoin ETFs See $480 Million in Inflows Over the Last Four Days, Memecoins Sector Leads the ReboundIn the past 24 hours, many new popular tokens and topics have emerged in the market, which are likely to be the next wealth creation opportunities.
Bitget Research: Stablecoin Market Cap Nears All-Time High, Hinting at Market RecoveryIn the past 24 hours, many new popular tokens and topics have emerged in the market, which are likely to be the next wealth creation opportunities.