Bitget Research: Bitcoin Fluctuates in a Narrow Range at $60,000, Solana Memecoins Recover Significantly Showing Potential Buy-the-Dip Opportunity
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.
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
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Sectors with strong wealth creation effect: Solana memecoins and DeFi.
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Top searched tokens and topics: Satlayer, Magic Eden, and Popcat.
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Potential airdrop opportunities: Symbiotic and Usual.
1. Market Environment
2. Wealth Creation Sectors
2.1 Sector Movements – Solana Memecoins (FWOG and POPCAT)
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SOL trend: The price of SOL influences the prices of Solana ecosystem tokens, as many trading pairs on DEXs are priced in SOL. Monitor SOL's price trend closely. If SOL continues to rise, holding SOL ecosystem assets may be advisable.
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Changes in open interest: SOL's recent increase in open interest suggests increased hot money inflows. Consider using tv.coinglass to gauge the movement of major funds and monitor futures data. Start by observing the uptick in net long positions, and then monitor the futures data for any increase in open interest and trading volume. Such trends typically signify heightened bullish sentiment, implying potential stability in holdings.
2.2 Sector Movements – DeFi (CAKE and CHESS)
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The BNB Chain has introduced a memecoin issuance platform called Four.Meme, which features a points promotion. Users can complete tasks on a designated page to earn points, redeemable for BNB Chain ecosystem memecoins such as FOUR and WHY. CAT, a memecoin on the BNB Chain, saw trading volumes exceed $117 million on its launch day. Increased activity and wealth effects on the BNB Chain have stimulated the ecosystem's DeFi projects, resulting in price increases as hot money flows in.
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Protocol metrics: These metrics are crucial in assessing a protocol's activity level, including daily active users, trading volume, and profitability. For instance, AAVE achieving historical highs in these metrics under the current market conditions naturally prompts the market to adjust its market cap valuation accordingly. Conversely, if the protocol metrics do not grow, there is no reason for the market to be optimistic about the protocol's development.
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Profit distribution: An increasing number of DeFi protocols are linking their tokens to protocol revenue, a business model that reactivates token trading enthusiasm. Investors have ample reason to hold the token, so the advancement of the protocol's profit distribution will significantly impact the token price.
3. Top Searches
3.1 Popular DApps
3.2 X (former Twitter)
3.3 Google Search (Global and Regional)
4. Potential Airdrop Opportunities
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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