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Bitget Research: Ethereum Gas Fees at Low of 5-20 Gwei, MicroStrategy Increases Bitcoin Holdings
Bitget Research
2023/09/26
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:
OCISLY (Token) - Of Course I Still Love You, a meme related to Elon Musk's tweet. Within 18 hours of posting the tweet "Of Course I Still Love You (OCISLY)," it received 10.8 million views. The token has a high on- XCNUSDT">
chain trading activity with a 24-hour trading volume of US$9.69 million and 14,581 transactions in the same period. Contract ownership has been renounced.
CAT (Token) - CATECOIN, a
memecoin launched on PinkSale, raised 252ETH. The token has a notable on-chain trading activity with a 24-hour trading volume of US$2 million and 3565 transactions. Contract ownership has been renounced.
CAL (Token) - A memecoin deployed by Shib developers, operated through community governance. Following the Shib community's FUD, the price of CAL tokens rose consecutively for four days, followed by a sharp decline over two days. In the past 24 hours, there have been 9172 on-chain transactions, achieving a trading volume of US$13 million.
2.Popular NFTs:
NABOX (NFT) - NABOX is an NFT project issued by Polyhedra Network and Nabox. Participation in this project might provide opportunities for a Polyhedra airdrop. There are related operational activities on Galxe, where completing tasks can earn you corresponding certificates. There are 8290 participants, and it's worth keeping an eye on this project.
3.Popular DApps:
MakerDAO (DApp) - MakerDAO has added US$50 million in RWA assets through BlockTower Andromeda, primarily investing in short-term U.S. government bonds with an annual interest rate of 4.75%. Currently, the total RWA assets of the protocol surpass US$3 billion.
Starknet (DApp) - Starknet has recently introduced a "Simple Decentralized Protocol Proposal." The proposal aims to enable the community to initiate a simple and complete decentralized Starknet protocol candidate solution, allowing for maximum simplification of the protocol under the assumption that over two-thirds of the stakes are honest. Recent speculations within the community about a potential airdrop event suggest that a token airdrop might become an upcoming opportunity to watch.
Arbitrum (DApp) - 1. The first round of voting in the Arbitrum Security Council election has concluded, with 24 nominees qualifying for the next stage. The Arbitrum Foundation has begun the compliance process for the 24 eligible candidates, which will last for two weeks until October 6, 2023. Additionally, the final round of voting will take place on October 6, which will determine the next batch of Security Council members; 2. Trader Joe has applied to the Arbitrum DAO for a grant of 1.83 million ARB tokens; 3. Radiant has applied to the Arbitrum Short-term Incentive Plan for a grant of up to 3.36 million ARB tokens.
PostTech (DApp) - A recently popular SocialFi DApp. It quickly garnered attention from the crypto community after its launch on Arbitrum. Its gameplay combines elements from
Tipcoin, FriendTech, and Twitter. There are expectations of an upcoming token launch.
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. The project team recently attended an offline
blockchain event in India. The project is an infrastructure-focused project, and it continues to develop despite the ongoing bear market. The project's token, GRT, has been listed on Bitget.
4.Twitter Hot Topics:
GLMR (Token) - South Korean
cryptocurrency exchange Upbit will list GLMR, supporting BTC trading pair. Due to the high speculative sentiment among South Korean users, the token price experienced a rapid increase. According to an official announcement, Binance launched the GLMR 1-10x U-margined perpetual contract on September 26, 2023, at 09:30 (UTC+8). Contract traders employ high leverage, resulting in elevated trading volume. Currently, GLMR's trading volume and price are skyrocketing, with the token price increasing by 42.53% in the past 24 hours.
BTC (Token) - Cryptocurrency investment management firm Bitwise has submitted an amendment to its
Bitcoin ETF application. The primary change in the application includes a section that systematically counters the reasons provided by the U.S. Securities and Exchange Commission (SEC) for its previous application denial. Between August 1 and September 24, MicroStrategy purchased an additional 5445 Bitcoins, spending roughly US$147.3 million, at an average cost of US$27,053 per Bitcoin.
5.Regional Trending Searches:
Sam Bankman-Fried (Event) - According to an analysis published by Coindesk, out of the seven charges faced by FTX founder Sam Bankman-Fried (SBF) in his trial, only two charges are considered "substantial". These charges are "wire fraud against FTX customers" and "wire fraud against Alameda Research lending institution". This implies that the United States Department of Justice alleges that SBF personally carried out these criminal activities.
Main Body
Written by: Bitget Research
Data collection time: September 26, 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
ORDI (Token) - The leading project of BRC-20, ORDI has been listed on Bitget. Based on the current trend of ORDI, BRC-20 tokens have not developed an independent trend. Projects in the entire sector follow the broader market, with a few experiencing a sharp decline. Currently, liquidity in the BRC-20 sector is average, and the narrative capability is relatively weak. It is essential to stay updated on future developments.
2.Blockchain Profile - ETH Chain
2.1 User Profile
2.1.1 Core Data
Total active users on ETH: 379,755
New active users on ETH: 80,144, with a daily increase of 10.12%
Existing active users on ETH: 299,611, with a daily increase of 7.87%
2.1.2 New User Profile
Core data: There were a total of 80,144 new active users on ETH yesterday, with a daily increase of 10.12%
Popular Sectors
Popular Projects
Starknet (DApp) - Starknet has recently introduced a "Simple Decentralized Protocol Proposal." The proposal aims to enable the community to initiate a simple and complete decentralized Starknet protocol candidate solution, allowing for maximum simplification of the protocol under the assumption that over two-thirds of the stakes are honest. Recent speculations within the community about a potential airdrop event suggest that a token airdrop might become an upcoming opportunity to watch.
2.1.3 Existing User Profile
Core data: The number of ETH active existing users is 299,611, with a daily increase of 7.87%
Popular Sectors
Popular 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." It recently introduced a commission feature, allowing token holders to claim respective holding rewards on its official website. The BANANA token has seen high trading activity since its issuance, and Bitget has listed the token on the spot market.
2.2 Popular Trading Pairs
2.2.1 Uniswap V2
OCISLY (Token) - Of Course I Still Love You, a meme related to Elon Musk's tweet. Within 18 hours of posting the tweet "Of Course I Still Love You (OCISLY)," it received 10.8 million views. The token has a high on-chain trading activity with a 24-hour trading volume of US$9.69 million and 14,581 transactions in the same period. Contract ownership has been renounced. https://www.dextools.io/app/en/ether/pair-explorer/0xc32c2d9768919deaee60f7eb163a293c6eb81be8
CAT (Token) - CATECOIN, a memecoin launched on PinkSale, raised 252ETH. The token has a notable on-chain trading activity with a 24-hour trading volume of US$2 million and 3565 transactions. Contract ownership has been renounced. https://www.dextools.io/app/en/ether/pair-explorer/0xae30f13675a1b58c313663f066c43e6190457a76
2.2.2 Uniswap V3
CAL (Token) - A memecoin deployed by Shib developers, operated through community governance. Following the Shib community's FUD, the price of CAL tokens rose consecutively for four days, followed by a sharp decline over two days. In the past 24 hours, there have been 9172 on-chain transactions, achieving a trading volume of US$13 million. https://dexscreener.com/ethereum/0xd3b4f5b4cf06498e4fbdd71c9da4f5befe01a0ed
3.Blockchain Profile - BSC Chain
3.1 User Profile
3.1.1 Core Data
Total active users on BSC: 1,047,557
New active users on BSC: 161,352, with a daily increase of 2.07%
Existing active users on BSC: 886,205, with a daily increase of 10.96%
3.1.2 New User Profile
Core data: There were a total of 161,352 new active users on BSC yesterday, with a daily increase of 2.07%
Popular Sectors
Popular Projects
TinyTap (DApp) - A decentralized education platform supported by Animoca Brands. Established in 2012, TinyTap is a tech startup based in Tel Aviv, Israel that focuses on user-generated content (UGC). As a specific technology in the trading sector, Tiny Tap will participate in the ISTE Live23 conference and earlier established a US$10 million Global Educators Fund, gaining considerable interest in the community.
3.1.3 Existing User Profile
Core data: The number of BSC active existing users is 886,205, with a daily increase of 10.96%
Popular Sectors
Popular Projects
NABOX (NFT) - NABOX is an NFT project issued by Polyhedra Network and Nabox. Participation in this project might provide opportunities for a Polyhedra airdrop. There are related operational activities on Galxe, where completing tasks can earn you corresponding certificates. There are 8290 participants, and it's worth keeping an eye on this project. https://galxe.com/polyhedra/campaign/GCZugUcwn5
3.2 Popular Trading Pairs
3.2.1 PancakeSwap V2
STA (Token) - A token with high trading activity on BSC. Over the past 24 hours, there were 13,838 transactions, with a trading volume of US$2.40 million. The token's Twitter account indicates "This account doesn’t exist". Top EOA addresses possess a significant amount of tokens.
4.Blockchain Profile - Polygon Chain
4.1 User Profile
4.1.1 Core Data
Total active users on Polygon: 389,492
New active users on Polygon: 78,779, with a daily increase of 16.26%
Existing active users on Polygon: 310,713, with a daily increase of 16.03%
4.1.2 New User Profile
Core data: There were a total of 78,779 new active users on Polygon yesterday, with a daily increase of 16.26%
Popular Sectors
Popular Projects
MakerDAO (DApp) - MakerDAO has added US$50 million in RWA assets through BlockTower Andromeda, primarily investing in short-term U.S. government bonds with an annual interest rate of 4.75%. Currently, the total RWA assets of the protocol surpass US$3 billion.
4.1.3 Existing User Profile
Core Data: The number of Polygon active existing users is 310,713, with a daily increase of 16.03%
Popular Sectors
Popular Projects
Pandra (NFT) - Pandra is conducting a cross-chain event for its NFT series, allowing interactions on both zkBridge and LayerZero. The NFT activity has seen increased transactions, likely due to airdrop enthusiasts participating.
4.2 Popular Trading Pairs
4.2.1 Uniswap V3
No new popular tokens have emerged on the Polygon chain.
5.Blockchain Profile - Arbitrum Chain
5.1 User Profile
5.1.1 Core Data
Total Active Users on Arbitrum: 151,599
New Active Users on Arbitrum: 21,921, with a daily decrease of 8.82%
Existing Active Users on Arbitrum: 129,678, with a daily increase of 12.76%
5.1.2 New User Profile
Core data: There were a total of 21,921 new active users on Arbitrum yesterday, with a daily decrease of 8.82%
Popular Sectors
Popular Projects
PostTech (DApp) - A recently popular SocialFi DApp. It quickly garnered attention from the crypto community after its launch on Arbitrum. Its gameplay combines elements from Tipcoin, FriendTech, and Twitter. With expectations of an upcoming token launch, it is recommended to keep an eye on this project.
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. The project team recently attended an offline blockchain event in India. The project is an infrastructure-focused project, and it continues to develop despite the ongoing bear market. The project's token, GRT, has been listed on Bitget.
5.1.3 Existing User Profile
Core data: The number of Arbitrum active existing users is 129,678, with a daily increase of 12.76%
Popular Sectors
Popular Projects
Arbitrum (DApp) - 1. The first round of voting in the Arbitrum Security Council election has concluded, with 24 nominees qualifying for the next stage. The Arbitrum Foundation has begun the compliance process for the 24 eligible candidates, which will last for two weeks until October 6, 2023. Additionally, the final round of voting will take place on October 6, which will determine the next batch of Security Council members; 2. Trader Joe has applied to the Arbitrum DAO for a grant of 1.83 million ARB tokens; 3. Radiant has applied to the Arbitrum Short-term Incentive Plan for a grant of up to 3.36 million ARB tokens.
5.2 Popular Trading Pairs
5.2.1 Uniswap V3
No new popular tokens have emerged on Arbitrum.
6.Blockchain Profile - Base Chain
6.1 User Profile
6.1.1 Core Data
Total Active Users on Base: 75,479
New Active Users on Base: 17,349, with a daily increase of 2.35%
Existing Active Users on Base: 58,130, with a daily increase of 3.58%
6.1.2 New User Profile
Core data: There were a total of 17,349 new active users on Base yesterday, with a daily increase of 2.35%
Popular Sectors
Popular Projects
Odos (DApp) - A DEX aggregator that supports one-click token swapping. It has rapidly expanded across several mainstream chains and has over 500 liquidity sources. It maintains high daily activity in Arbitrum and has recently begun focusing on its expansion on Base. Data from @Base_Today indicates that Odos Protocol ranks high in terms of trading volume among exchanges hosted on Base.
6.1.3 Existing User Profile
Core data: The number of Base active existing users is 58,130, with a daily increase of 3.58%
Popular Sectors
Popular Projects
RabbitHole (DApp) - Out of the top five tasks on RabbitHole, three are based on the Base ecosystem. Among them, "Mint art on BasePaint" has 18,000 participants, and "Swap on BaseSwap" has 21,000 participants, indicating high popularity.
7. DApp Ecosystem - All Chains
Galxe (DApp) - On September 19, Galxe announced that it is gradually rolling out Galxe 2.0, which includes the Galxe mobile app (available on Testflight in early Q4), Smart Balance (set for a public release in late September), Web3 Score (already released), Telegram Discord Bot V2, and Galxe ID V2 (available on Galxe.com in late September).
8.DApp Ecosystem - ETH Chain
Manifold (DApp) -
A creator platform that allows artists to create NFTs using componentized product releases for smart contracts. It is also a platform for users to mint NFTs. Manifold will expand its Creator toolset to L2, providing users with a lower transaction gas fee experience.
9.DApp Ecosystem - BSC Chain
Galxe was described earlier in the report.
10.DApp Ecosystem - Polygon Chain
Pandra War (DApp) - This is a war game. Players can create soldiers, and rather than attacking other players directly, they can earn coins from them. DappRadar has labeled it as a high-risk DApp.
11.DApp Ecosystem - WAX Chain
The UAW of
WAX ecosystem projects has not experienced much change.
12.DApp Ecosystem - Solana Chain
In the Solana ecosystem, no new popular protocols have emerged. Two NFT Marketplaces, Rarible and Magic Eden, consistently occupy the top two positions in UAW rankings.
13.DApp Ecosystem - Arbitrum Chain
Radiant (DApp) - Radiant Capital has submitted a proposal to Arbitrum DAO's Short-Term Incentive Plan (STIP). They are seeking a grant of between 52,126 and 3,359,302 ARB tokens before January 31 to incentivize both new and existing users.
14.DApp Ecosystem - Base Chain
Friend.tech (DApp) - The latest data from the friend.tech "Keys" price leaderboard shows that the crypto influencer Vombatus ranks first with a price of 7.268 ETH; the platform's founder Racer ranks second with a price of 6.931 ETH; crypto influencer Levi ranks third with a price of 5.112 ETH.
15.DApp Ecosystem - GameFi Sector Across All Chains
Secondlive (DApp) - Led by Binance Labs, Secondlive is a Metaverse live-streaming platform on the BSC. The project is yet to launch its own token, with airdrop expectations. Secondlive is deployed on multiple chains. Early content providers of the project can earn $LIVE rewards, making it worth continuous attention. They are currently collaborating with @SonorusOfficial on a Brand Space treasure hunt event.
16.Gas Fee Consumption - ETH Chain
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." It recently introduced a commission feature, allowing token holders to claim respective holding rewards on its official website. The BANANA token has seen high trading activity since its issuance, and Bitget has listed the token on the spot market.
17.Gas Fee Consumption - BSC Chain
Pandra (NFT) - Pandra is conducting a cross-chain event for its NFT series, allowing interactions on both zkBridge and LayerZero. The NFT activity has seen increased transactions, likely due to airdrop enthusiasts participating.
18.Gas Fee Consumption - Polygon Chain
Planet IX (DApp) - A Web3 NFT-based GameFi game that is currently one of the most popular games on Polygon. It consistently tops the Polygon ecosystem rankings, indicating a very high level of user activity.
19.Gas Fee Consumption - Arbitrum Chain
Vertex (DApp) - Vertex is an on-chain derivative DEX that has seen rapid growth in trading volume recently. It currently ranks in the top three in terms of DEX derivatives trading volume, with a daily trading volume of approximately US$31.1 million. The project has entered its final phase of trading mining before the token launch, with the token anticipated to launch in October.
20.Gas Fee Consumption - Base Chain
friend.tech (DApp) - The latest data from the friend.tech "Keys" price leaderboard shows that the crypto influencer Vombatus ranks first with a price of 7.268 ETH; the platform's founder Racer ranks second with a price of 6.931 ETH; crypto influencer Levi ranks third with a price of 5.112 ETH.
21.Twitter Trends Token Top Rank
GLMR (Token) - South Korean cryptocurrency exchange Upbit will list GLMR, supporting BTC trading pair. Due to the high speculative sentiment among South Korean users, the token price experienced a rapid increase. According to an official announcement, Binance launched the GLMR 1-10x U-margined perpetual contract on September 26, 2023, at 09:30 (UTC+8). Contract traders employ high leverage, resulting in elevated trading volume. Currently, GLMR's trading volume and price are skyrocketing, with the token price increasing by 42.53% in the past 24 hours.
BTC (Token) - Cryptocurrency investment management firm Bitwise has submitted an amendment to its Bitcoin ETF application. The primary change in the application includes a section that systematically counters the reasons provided by the U.S. Securities and Exchange Commission (SEC) for its previous application denial. Between August 1 and September 24, MicroStrategy purchased an additional 5445 Bitcoins, spending roughly US$147.3 million, at an average cost of US$27,053 per Bitcoin.
22.Google Trends - Global
Sam Bankman-Fried (Event) - According to an analysis published by Coindesk, out of the seven charges faced by FTX founder Sam Bankman-Fried (SBF) in his trial, only two charges are considered "substantial". These charges are "wire fraud against FTX customers" and "wire fraud against Alameda Research lending institution". This implies that the United States Department of Justice alleges that SBF personally carried out these criminal activities.
23.Google Trends Surge - East Asia, South Asia, Southeast Asia, Hong Kong, Macau, and Taiwan
a) South Asia Region
India Trends: uniswap, etherlite, crypto better sim details
Pakistan Trends: coinpayu, dca crypto,
tradingview crypto, crypto screener
b) Southeast Asia Region
Thailand Trends: None
Indonesia Trends: bybit, tradingview, tokocrypto
c) East Asia and Hong Kong, Macau, and Taiwan
Hong Kong Trends: victory, whax, hkbge, bitcoin
Japan Trends: crypt
Taiwan Trends: crypto in chinese
24.Google Trends Surge - English-speaking Countries, Europe, CIS Region
a) CIS Region Trends:
crypto pro
b) English-speaking Countries
Canada Trends: sol, hex, cel, glmr
Australia Trends: shib, aus, xrp, btc
UK Trends: luna, glmr
USA Trends: mnt, glmr, jasmy, okb
c) Europe
Spain Trends: glmr, sol, pepe
Germany Trends: tao, tron, avax
France Trends: glmr, celo, sonik
Italy Trends: icp, ultron, ramp, spell, link
Turkey Trends: coinmarketcap, crypto ramco, crypto fund trader
25.Google Trends Surge - Middle East, Latin America, Africa
a) Africa
Nigeria Trends: crypto fixed matches, paxful
South Africa Trends: crypto bubbles, coinbase,
crypto market tool
b) Middle East Trends: crypto exchange dubai,
btc to usd, sar to inr
c) Latin America
Brazil Trends: xlm, eth, shib, bch, avax
Argentina Trends: trx, dolar
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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