Bitget Research: Bitcoin ETFs See $480 Million in Inflows Over the Last Four Days, Memecoins Sector Leads the Rebound

In 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.

Overview

Over the last four trading days, Bitcoin ETFs experienced consecutive inflows totaling $480 million. The market has stabilized, showing a notable rebound in the memecoin sector. Key highlights include:

• Sectors with strong wealth generation: Memecoin and modular sectors.
• Top searched tokens and topics: WalletConnect, UXLINK, and Saga.
• Potential airdrop opportunities: Lombard and Fuel.

Data collection time: September 18, 2024, 4:00 AM (UTC+0)

1.Market Environment

After breaking through $61,000 yesterday, the price of Bitcoin retraced, while the overall market sentiment remains neutral. The Federal Reserve will announce its interest rate decision during the FOMC meeting in the wee hours of Thursday. It is widely anticipated that this decision will signal the beginning of interest rate cuts, which could lead to significant market volatility. Investors should be prepared.

In the ETF market, Bitcoin ETFs recorded a net inflow of $480 million over the past four trading days. In contrast, Ethereum ETFs struggled, with a net outflow of $15.1 million yesterday. The increased focus on Bitcoin in the ETF market has caused the ETH/BTC ratio to drop to its lowest point in nearly three years.

In the crypto ecosystem, Binance's recent listing of several memecoins has reenergized the memecoin market. However, investors should exercise caution when trading memecoins, particularly those with names that sound similar to "Neiro". The safest approach is to trade directly on a centralized exchange to protect your funds.

2. Wealth Creation Sectors

2.1 Sector Movements: Memecoin Ecosystem (Neiro and TURBO)

Primary reasons:
Recently, Binance made the rare decision to list three memecoins at once. The exchange stated that it listed coins with relatively low market caps and healthy communities. This action sparked excitement within the broader memecoin community, with other memecoins benefiting from the overall wealth creation effect. With the anticipated interest rate cuts and improvements in market liquidity, memecoins—popular among retail investors—have significant growth potential. Investors are encouraged to follow Bitget's daily research report for wealth-building opportunities.

Gainers: In the last 24 hours, Neiro and TURBO increased by 49.2% and 11.7%, respectively.

Factors affecting future market conditions:

￮ Sustained popularity: The value of memecoins largely stems from the emotional value fostered by their respective communities. Retail traders love memecoins for their simplicity and easy-to-understand narratives. However, investors should be aware that memecoins have low issuance costs and simple business models that are easily replicable. Therefore, investors may face significant risks once community interest fades. It's crucial for investors to monitor activity and engagement within memecoin communities, as these factors are central to the value of memecoins.

￮ Changes in open interest: The recent increase in open interest for some memecoins suggests an influx of hot money. Consider using Coinglass to gauge the movement of major funds and monitor futures data. Start by observing the uptick in net long positions, then track the futures data for any increase in open interest and trading volume. Such trends typically indicate heightened bullish sentiment, making it advisable to hold the assets.

2.2 Sector Movements: Modular Sector (TIA, SAGA, and DYM)

Primary reasons:
The data availability (DA) layer ecosystem, led by Celestia, continues to attract significant attention from developers actively experimenting within the space. Additionally, specialized DA projects are conducting airdrops for TIA stakers. After an extended period of consolidation, the price of TIA has nearly returned to its initial TGE price, suggesting it may be undervalued. Recently, some investors have begun increasing their positions, leading to a revaluation of various tokens in the DA sector.

Gainers: In the last 24 hours, TIA, SAG, and DYM increased by 6.9%, 19.7%, and 21.5%, respectively.
Factors affecting future market conditions:

￮ Project developments: To maintain its competitive edge, the DA ecosystem needs to continuously expand the scope and depth of its offerings. The market needs to embrace DA applications in order to reasonably value the projects within the DA ecosystem. Currently, Ethereum and related ecosystems are starting to take shape. However, the emergence of more "killer apps" is necessary for infrastructure projects to generate significant revenue and boost valuations.

￮ News-related impact: Keep an eye on product updates and partnership announcements from projects. If an AMA is scheduled, consider positioning assets ahead of time, as there's a strong likelihood that the team will leverage improved market liquidity to release positive news.

3. Trending Searches

3.1 Popular dApps:

UXLINK:

UXLINK has recently been listed for spot trading on Upbit and for futures trading on Binance, leading to a rise in its token price. The project announced that the second round of airdrops will begin on January 18, 2025. Following the launch of the INVITE sub-token, it has introduced AIRDROP2049, which will be distributed to the community. Yesterday, UXLINK posted a 2-month summary of its TGE on its official X platform, highlighting record highs in user sign-ups, partner count, and profits. With these multiple favorable factors, the token has surged by over 200% in the past seven days.

3.2 X (former Twitter)

WalletConnect:

WalletConnect will launch its native token, WCT, on Optimism. The signup for the WCT airdrop will open on September 24, with eligibility based on WalletConnect network usage. The initial supply of WCT is capped at 1 billion tokens, with 18.5% of the total supply—185 million tokens—allocated for the first round of airdrops. This airdrop will benefit WalletConnect's end users and contributors, including wallets, applications, nodes, SDKs, and the community. There is currently no confirmed information about trading availability for listed tokens post-airdrop, so users are advised to stay tuned for updates from exchanges.

3.3 Google Search (Global and Regional)

• Global focus:

Saga is a modular platform based on Cosmos, tailored for the gaming industry. Its framework consists of three layers: Security Chain, Platform Chain, and Chainlet, all developed using Cosmos-SDK. Today, the modular token sector experienced widespread gains, with SAGA rising 18.98% in a single day and 41.29% over the past seven days. Given the rapid rotation in the sector, users are advised to exercise caution when participating.

• Regional focus:

(1) Influenced by Binance's listing of NEIRO and TURBO, these tokens, along with CATE, are trending across various European regions.

(2) Telegram mini apps are gaining widespread attention across various regions. With upcoming side events featuring TON and BLUM at TOKEN2049, BLUM has seen a surge in searches across Myanmar, Indonesia, the Philippines, and Ukraine.

(3) Trending searches are spreading across Europe and America. As modular tokens gain traction, several European countries/regions that previously focused on traditional chains are now shifting their attention to modular chains, with tokens like SAGA and TIA trending in Germany, France, and Poland.

4. Potential Airdrop Opportunities

Lombard

Lombard is a key project within the Babylon ecosystem, focused on exploring Bitcoin’s potential in decentralized finance (DeFi). Leveraging Babylon’s core protocol, Lombard provides trustless and self-custodial Bitcoin staking, enabling users to earn staking rewards while retaining control of their Bitcoin. The core product of Lombard is LBTC, a synthetic token representing staked Bitcoin. When users stake Bitcoin through Lombard, they receive an equivalent amount of LBTC, which acts as a bridge for interacting with various DeFi protocols across different blockchains.

How to participate: Participants must (1) connect their Ethereum wallet; (2) transfer the required amount of BTC to the address generated by Lombard to receive LBTC; and (3) LBTC holders can earn double points in both Babylon and Lombard.

Fuel

Fuel is a UTXO-based modular execution layer that enhances Ethereum's scalability on a global scale. As a modular execution layer, Fuel can achieve global throughput in ways that monolithic chains cannot, all while inheriting security from Ethereum.

In September 2022, Fuel Labs successfully raised $80 million in a funding round led by Blockchain Capital and Stratos Technologies, with investments from several prominent investment institutions, including CoinFund, Bain Capital Crypto, and TRGC.

How to participate: Deposit qualifying tokens to earn points. Participants will earn 1.5 points per day for every $1 deposited in the following assets: ETH, WET, eETH, rsETH, rETH, wbETH, USDT, USDC, USDe, sUSDe, and stETH. Additionally, from July 8 to July 22, participants will earn 3 points per day when depositing ezETH.