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Bitget Research: Bitcoin Dominance Hits 2-Year High at 51%, Reddit Terminates Blockchain-based Community Points Program
Bitget Research
2023/10/19
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:
JOE (Token) - Represented by a yellow cartoon expression, this
memecoin experienced a surge of more than 50x on the secondary market shortly after its recent launch. Renowned influencers like Pranksy and Lawliette have recommended it, generating significant hype. The market cap is US$6.7 million, with a 24-hour trading volume of US$4.97 million, indicating a strong upward momentum.
FLC (Token) - A new NFT fractionalization protocol replicating the past approach of breaking down NFTs into uTokens and forming LP to lower the barriers to NFT transactions. The project team has deployed a big liquidity pool, with current liquidity reaching US$3.5 million. The market cap is US$9.4 million, with a 24-hour trading volume of US$1.35 million.
REKT (Token) - A memecoin themed around "rug pull," REKT is scheduled to launch on October 19. Promoted by former Bitmex CEO Arthur Hayes and several prominent influencers including RektGuy and Dave Waslen, it has high community engagement. The project will launch with a market cap of US$1 million and will be tradable on both Ethereum and BSC chains, meriting attention.
ARB (Token) - The first round of voting for the Short-Term Incentive Program (STIP) initiated by Arbitrum concluded last week. Out of the 97 proposals submitted, 29 projects will be eligible to participate in this incentive program as per Arbitrum's rules. After a short-lived spike in price, ARB's value has once again pulled back to near historical lows, with significant fluctuations due to governance needs.
2.Popular NFTs:
No popular NFTs to mention for today.
3.Popular DApps:
Uniswap (DApp) - According to an official announcement, starting October 17, Uniswap will impose a 0.15% exchange fee for certain tokens within its web application and wallet. The tokens include ETH, USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC, and XSGD. These fees apply only to transactions made on the mainnet and L2 via the Uniswap Labs interface and are intended to sustainably fund Uniswap's operations. Based on the latest figures, Uniswap's front-end transaction fees recorded US$82,000 on the first day, with projected annual revenue reaching up to US$30 million.
Scroll (DApp) - The open-source Ethereum scalability solution, Scroll, has officially announced its launch on the mainnet. The Scroll mainnet will initially be inhabited by infrastructure providers, subsequently supporting the deployment of various projects and development tools. This move enables global developers to start building Web3 products, ultimately encouraging new users to join the Ethereum community. The next milestone on Scroll's roadmap is the construction of a decentralized proof network and a decentralized sequencer. More than 55 million transactions have been completed on the Alpha and Beta test networks, with nearly 1 million batch transactions finally confirmed on L1.
Maker (DApp) - MakerDAO's lending protocol, Spark Protocol, has launched its new brand website with the aim of establishing a truly community-driven DeFi infrastructure. Currently, it offers deposit and lending services for DAI, with interest rates at 5% and 5.33%, respectively.
ZTX (Token) - ZTX is a Web3 virtual world dedicated to empowering creators and communities. Established in 2022, ZTX is a
blockchain initiative backed by Jump Crypto and ZEPETO. ZEPETO is the largest virtual social network in Asia, with over 400 million users. ZEPETO itself embodies elements of both a social networking and casual gaming platform, with over 99% of in-game items being created by the community. The project raised US$13 million in August, led by Jump, and has recently launched its token, experiencing high on-chain popularity.
Friend.Tech (DApp) - SlowMist founder Yu Xian warned in a social media post about potential risks associated with tools related to friend.tech, especially those that directly request a private key or require users to log in with a friend.tech account (such as a mobile number) and a separate password (friend.tech's 2FA). These services can interact with friend.tech through reverse proxies in the backend, potentially manipulating user funds.
Blur (DApp) - After Blur announced that its Season 2 Airdrop campaign would end on November 20, investment firm ARCA initiated a proposal in the community to add a fee-sharing mechanism and special privileges for BLUR, which was retweeted by the official account. Influenced by this, the BLUR token bucked the market trend, surging up to 30% over the past week. It has recently pulled back slightly, with a tota l trading volume of US$270 million.
QORPO WORLD (DApp) - A
cryptocurrency-based gaming platform featuring a variety of RPGs and shooter games. The project has recently updated its tokenomics and plans to distribute tokens, resulting in a consistent increase in UAW.
Solana (DApp) - 1. The Solana Foundation has become an ecosystem partner of the Dubai Multi Commodities Centre (DMCC); 2. Lido will gradually discontinue support for staking services on Solana due to financial challenges faced by the team.
Rhino (DApp) - A multi-chain DeFi aggregator, Rhino has recently conducted airdrops on task platforms with several chains, including Arbitrum and Scroll, giving away nearly ten thousand ARB rewards.
Aerodrome (DApp) - Currently the DeFi protocol with the largest TVL in the Base ecosystem, Aerodrome operates as a DEX utilizing the Ve(3,3) mechanism. The current TVL stands at US$55 million, which has fallen by more than 70% from its peak. The new round of incentive token distribution plan is under voting.
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 launch anticipated shortly.
4.Twitter Hot Topics:
ATOR (Token) - This project is in the privacy sector. Yesterday, ATOR surged to a new high, breaking US$1. ATOR is the privacy-focused chain of The Onion Router Network, with a current market cap of approximately US$100 million.
PAAL (Token) - Experiencing a significant surge and hitting a new high, PAAL has garnered a million users, promising future staking returns (with a 4% transaction tax). The project announced yesterday that it has become a member of Nvidia's Inception program, entitling it to certain computational resources. The token increased by over 40%, making it an essential one to keep an eye on.
5.Regional Trending Searches:
Bitcoin (Token) - Amid growing global risk-aversion, the VXX saw a 5% increase yesterday, nearing a significant breakout point. The swift rise in U.S. Treasury yields has prompted a steady increase in the U.S. dollar index, creating a challenging environment for risk assets. Recently, Bitcoin has emerged as a preferred hedge, increasing its dominance to 51% in the cryptocurrency market.
Main Body
Written by: Bitget Research
Data collection time: October 19, 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
No data for this segment today due to anomalies in the data source.
2.Blockchain Profile - ETH Chain
2.1 User Profile
2.1.1 Core Data
Total active users on ETH: 372,485
New active users on ETH: 67,801, with a daily decrease of 4.62%
Existing active users on ETH: 304,684, with a daily decrease of 1.80%
2.1.2 New User Profile
Core data: There were a total of 67,801 new active users on ETH yesterday, with a daily decrease of 4.62%
Popular Sectors
Popular Projects
Key Projects:
Uniswap (DApp) - According to an official announcement, starting October 17, Uniswap will impose a 0.15% exchange fee for certain tokens within its web application and wallet. The tokens include ETH, USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC, and XSGD. These fees apply only to transactions made on the mainnet and L2 via the Uniswap Labs interface and are intended to sustainably fund Uniswap's operations. Based on the latest figures, Uniswap's front-end transaction fees recorded US$82,000 on the first day, with projected annual revenue reaching up to US$30 million.
2.1.3 Existing User Profile
Core data: The number of ETH active existing users is 304,684, with a daily decrease of 1.80%
Popular Sectors
Popular Projects
Key Projects:
Scroll (DApp) - The open-source Ethereum scalability solution, Scroll, has officially announced its launch on the mainnet. The Scroll mainnet will initially be inhabited by infrastructure providers, subsequently supporting the deployment of various projects and development tools. This move enables global developers to start building Web3 products, ultimately encouraging new users to join the Ethereum community. The next milestone on Scroll's roadmap is the construction of a decentralized proof network and a decentralized sequencer. More than 55 million transactions have been completed on the Alpha and Beta test networks, with nearly 1 million batch transactions finally confirmed on L1.
2.2 Popular Trading Pairs
2.2.1 Uniswap V2
JOE (Token) - Represented by a yellow cartoon expression, this memecoin experienced a surge of more than 50x on the secondary market shortly after its recent launch. Renowned influencers like Pranksy and Lawliette have recommended it, generating significant hype. The market cap is US$6.7 million, with a 24-hour trading volume of US$4.97 million, indicating a strong upward momentum.
2.2.2 Uniswap V3
FLC (Token) - A new NFT fractionalization protocol replicating the past approach of breaking down NFTs into uTokens and forming LP to lower the barriers to NFT transactions. The project team has deployed a big liquidity pool, with current liquidity reaching US$3.5 million. The market cap is US$9.4 million, with a 24-hour trading volume of US$1.35 million.
3.Blockchain Profile - BSC Chain
3.1 User Profile
3.1.1 Core Data
Total active users on BSC: 1,117,433
New active users on BSC: 168,072, with a daily increase of 11.59%
Existing active users on BSC: 949,361, with a daily decrease of 0.15%
3.1.2 New User Profile
Core data: There were a total of 168,072 new active users on BSC yesterday, with a daily increase of 11.59%
Popular Sectors
Popular Projects
Key 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). Previously, TinyTap established a US$10 million Global Educators Fund.
3.1.3 Existing User Profile
Core data: The number of BSC active existing users is 949,361, with a daily decrease of 0.15%
Popular Sectors
Popular Projects
Key Projects:
Secondlive (DApp) - The metaverse project Secondlive, based on BSC, is a Web3 project specifically designed for fostering virtual social networks and bolstering the creator economy. It introduces a multifaceted 3D virtual environment where participants can embody their preferred virtual avatars and indulge in various real-world activities, including virtual exhibitions, singing, dancing, and shopping. Users can also leverage the SecondLive Avatar to create their content and profit from it.
3.2 Popular Trading Pairs
3.2.1 PancakeSwap V2
REKT (Token) - A memecoin themed around "rug pull," REKT is scheduled to launch on October 19. Promoted by former Bitmex CEO Arthur Hayes and several prominent influencers including RektGuy and Dave Waslen, it has high community engagement. The project will launch with a market cap of US$1 million and will be tradable on both Ethereum and BSC chains, meriting attention.
4.Blockchain Profile - Polygon Chain
4.1 User Profile
4.1.1 Core Data
Total active users on Polygon: 374,895
New active users on Polygon: 57,267, with a daily increase of 0.69%
Existing active users on Polygon: 317,628, with a daily decrease of 0.28%
4.1.2 New User Profile
Core data: There were a total of 57,267 new active users on Polygon yesterday, with a daily increase of 0.69%
Popular Sectors
Popular Projects
Key Projects:
Maker (DApp) - MakerDAO's lending protocol, Spark Protocol, has launched its new brand website with the aim of establishing a truly community-driven DeFi infrastructure. Currently, it offers deposit and lending services for DAI, with interest rates at 5% and 5.33%, respectively.
4.1.3 Existing User Profile
Core Data: The number of Polygon active existing users is 317,628, with a daily decrease of 0.28%
Popular Sectors
Popular Projects
Key Projects:
MetaTrace (DApp) - MetaTrace is a GameFi project based on a real-world map. ACE is the functional token of the project, which can be used for upgrading and incubating NFT cars, as well as reconfiguring NFT car features and increasing NFT car slot capacities. The token has over 1,200,000 holders, indicating a substantial user base.
4.2 Popular Trading Pairs
4.2.1 Uniswap V3
No popular projects worthy of special attention on Polygon.
5.Blockchain Profile - Arbitrum Chain
5.1 User Profile
5.1.1 Core Data
Total Active Users on Arbitrum: 136,572
New Active Users on Arbitrum: 16,801, with a daily increase of 1.60%
Existing Active Users on Arbitrum: 119,771, with a daily increase of 16.42%
5.1.2 New User Profile
Core data: There were a total of 16,801 new active users on Arbitrum yesterday, with a daily increase of 1.60%
Popular Sectors
Popular Projects
Key Projects:
ZTX (Token) - ZTX is a Web3 virtual world dedicated to empowering creators and communities. Established in 2022, ZTX is a blockchain initiative backed by Jump Crypto and ZEPETO. ZEPETO is the largest virtual social network in Asia, with over 400 million users. ZEPETO itself embodies elements of both a social networking and casual gaming platform, with over 99% of in-game items being created by the community. The project raised US$13 million in August, led by Jump, and has recently launched its token, experiencing high on-chain popularity.
5.1.3 Existing User Profile
Core data: The number of Arbitrum active existing users is 119,771, with a daily increase of 16.42%
Popular Sectors
Popular Projects
Key Projects:
Galxe (DApp) - The Galxe attack incident has come to a conclusion. Galxe has released a recovery plan in response to the security incident on October 6th. The plan indicates that any user who experienced a loss will be fully compensated in USDT on the Polygon network, with the value determined as of 6:00 PM on October 9 (UTC+8). If users believe they are affected but their wallet address is not on the list, or if they ascertain that the calculated value of the loss is incorrect, they can contact the support team before 1:00 AM on October 17 (UTC+8). Additionally, to express gratitude for users' trust, the team will provide an extra 10% compensation.
5.2 Popular Trading Pairs
5.2.1 Uniswap V3
ARB (Token) - The first round of voting for the Short-Term Incentive Program (STIP) initiated by Arbitrum concluded last week. Out of the 97 proposals submitted, 29 projects will be eligible to participate in this incentive program as per Arbitrum's rules. After a short-lived spike in price, ARB's value has once again pulled back to near historical lows, with significant fluctuations due to governance needs.
6.Blockchain Profile - Base Chain
6.1 User Profile
6.1.1 Core Data
Total Active Users on Base: 96,541
New Active Users on Base: 35,924, with a daily decrease of 37.06%
Existing Active Users on Base: 60,617, with a daily decrease of 6.16%
6.1.2 New User Profile
Core data: There were a total of 35,924 new active users on Base yesterday, with a daily decrease of 37.06%
Popular Sectors
Popular Projects
Key Projects:
Friend.Tech (DApp) - SlowMist founder Yu Xian warned in a social media post about potential risks associated with tools related to friend.tech, especially those that directly request a private key or require users to log in with a friend.tech account (such as a mobile number) and a separate password (friend.tech's 2FA). These services can interact with friend.tech through reverse proxies in the backend, potentially manipulating user funds.
6.1.3 Existing User Profile
Core data: The number of Base active existing users is 60,617, with a daily decrease of 6.16%
Popular Sectors
Popular Projects
Key Projects:
OdosRouterV2 (DApp) - The Odos Protocol stands out as the first Dex aggregator that allows users to swap multiple tokens for a single asset in one atomic transaction. This system facilitates the exchange of a basket of input tokens for the desired output in one go, saving on gas fees and mitigating market volatility.
7. DApp Ecosystem - All Chains
Galxe (DApp) - The Galxe attack incident has come to a conclusion. Galxe has released a recovery plan in response to the security incident on October 6th. The plan indicates that any user who experienced a loss will be fully compensated in USDT on the Polygon network, with the value determined as of 6:00 PM on October 9 (UTC+8). If users believe they are affected but their wallet address is not on the list, or if they ascertain that the calculated value of the loss is incorrect, they can contact the support team before 1:00 AM on October 17 (UTC+8). Additionally, to express gratitude for users' trust, the team will provide an extra 10% compensation.
8.DApp Ecosystem - ETH Chain
Blur (DApp) - After Blur announced that its Season 2 Airdrop campaign would end on November 20, investment firm ARCA initiated a proposal in the community to add a fee-sharing mechanism and special privileges for BLUR, which was retweeted by the official account. Influenced by this, the BLUR token bucked the market trend, surging up to 30% over the past week. It has recently pulled back slightly, with a total trading volume of US$270 million.
9.DApp Ecosystem - BSC
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). Previously, TinyTap established a US$10 million Global Educators Fund.
QORPO WORLD (DApp) - A cryptocurrency-based gaming platform featuring a variety of RPGs and shooter games. The project has recently updated its tokenomics and plans to distribute tokens, resulting in a consistent increase in UAW.
10.DApp Ecosystem - Polygon Chain
GOQii (DApp) - India's leading smart preventive healthcare platform, Force of Good Foundation (FoG) is gearing up to launch the Universal Health Token (UHT) in a phased manner over the next few quarters. Current partners of the UHT token include GOQii, Animoca Brands, and IndiGG. GOQii is a Web2 project that transitioned to
blockchain technology and recently the UAW has seen significant growth.
11.DApp Ecosystem - WAX Chain
Alien Worlds (DApp) - A space exploration game developed by Dacoco GmbH on the
WAX chain. Alien Worlds provides players with land ownership, deployment tools, soldiers, and weapons, as well as customizing exclusive game characters. It is a multi-chain NFT DeFi metaverse game that currently supports Ethereum, WAX, and BSC.
12.DApp Ecosystem - Solana Chain
Solana (DApp) - 1. The Solana Foundation has become an ecosystem partner of the Dubai Multi Commodities Centre (DMCC); 2. Lido will gradually discontinue support for staking services on Solana due to financial challenges faced by the team.
13.DApp Ecosystem - Arbitrum Chain
Rhino (DApp) - A multi-chain DeFi aggregator, Rhino has recently conducted airdrops on task platforms with several chains, including Arbitrum and Scroll, giving away nearly ten thousand ARB rewards.
14.DApp Ecosystem - Base Chain
Aerodrome (DApp) - Currently the DeFi protocol with the largest TVL in the Base ecosystem, Aerodrome operates as a DEX utilizing the Ve(3,3) mechanism. The current TVL stands at US$55 million, which has fallen by more than 70% from its peak. The new round of incentive token distribution plan is under voting.
15.DApp Ecosystem - GameFi Sector Across All Chains
Alien Worlds (DApp) - A space exploration game developed by Dacoco GmbH on the WAX chain. Alien Worlds provides players with land ownership, deployment tools, soldiers, and weapons, as well as customizing exclusive game characters. It is a multi-chain NFT DeFi metaverse game that currently supports Ethereum, WAX, and BSC.
16.Gas Fee Consumption - ETH Chain
Scroll (DApp) - The open-source Ethereum scalability solution, Scroll, officially announced its launch on the mainnet yesterday. The Scroll mainnet will initially be inhabited by infrastructure providers, subsequently supporting the deployment of various projects and development tools. This move enables global developers to start building Web3 products, ultimately encouraging new users to join the Ethereum community. The next milestone on Scroll's roadmap is the construction of a decentralized proof network and a decentralized sequencer. More than 55 million transactions have been completed on the Alpha and Beta test networks, with nearly 1 million batch transactions finally confirmed on L1.
17.Gas Fee Consumption - BSC
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
Galxe (DApp) - The Galxe attack incident has come to a conclusion. Galxe released a recovery plan in response to the security incident on October 6th. The plan indicates that any user who experienced a loss will be fully compensated in USDT on the Polygon network, with the value determined as of 6:00 PM on October 9 (UTC+8).
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 launch anticipated shortly.
20.Gas Fee Consumption - Base Chain
Friend.tech (DApp) - Friend.tech is one of the hottest projects on the Base chain. The project's operations range from tokenization to seamless interactions using blockchain technology and cryptocurrency. Not only has Friend.tech fueled the recent growth in Base, but it has also become a significant contributor to Base's growth through its operations on Base's Ethereum Layer 2 chain.
21.Twitter Trends Token Top Rank
ATOR (Token) - This project is in the privacy sector. Yesterday, ATOR surged to a new high, breaking US$1. ATOR is the privacy-focused chain of The Onion Router Network, with a current market cap of approximately US$100 million.
PAAL (Token) - Experiencing a significant surge and hitting a new high, PAAL has garnered a million users, promising future staking returns (with a 4% transaction tax). The project announced yesterday that it has become a member of Nvidia's Inception program, entitling it to certain computational resources. The token increased by over 40%, making it an essential one to keep an eye on.
22.Google Trends - Global
Bitcoin (Token) - Amid growing global risk-aversion, the VXX saw a 5% increase yesterday, nearing a significant breakout point. The swift rise in U.S. Treasury yields has prompted a steady increase in the U.S. dollar index, creating a challenging environment for risk assets. Recently, Bitcoin has emerged as a preferred hedge, increasing its dominance to 51% in the cryptocurrency market.
23.Google Trends Surge - East Asia, South Asia, Southeast Asia, Hong Kong, Macau, and Taiwan
a) South Asia Region
India Trends: ORIS, BTC
Pakistan Trends: Crypto ETF, BTC
b) Southeast Asia Region
Philippines Trends: CRO, FUD,
Crypto News
Indonesia Trends: TOKO, DogeCoin, Waves
Malaysia Trends: crypto news, coingecko
Vietnam Trends: Crypto News, Crypto Gaming, Crypto Bubble
c) East Asia and Hong Kong, Macau, and Taiwan
Trends: betfury, Crypto Miner
24.Google Trends Surge - English-speaking Countries, Europe, CIS Region
a) CIS Region Trends: Crypto News, Crypto Bubble, Airdrop
b) English-speaking Countries
Canada Trends: Milady, Dogecoin, Mana, Bitcoin, FTX, Turbo, Mara
Australia Trends: Crypto Regulation, NGS, BTC, ASIC, BTC
UK Trends: kas, mm, helium
USA Trends: paradox, crypto,
bitcoin etf, hourglass crypto
c) Europe
Spain Trends: sol, matic, rune, btc
Germany Trends: pi, btc, eth
France Trends: btc, grt, aes, galleon
Italy Trends: holo, ultron, btc, ada
Turkey Trends: coinpayu, crypto bubbles, crypto fund trader
Poland Trends: eth, btc
25.Google Trends Surge - Middle East, Latin America, Africa
a) Africa
Nigeria Trends: coinmarketcap, best
crypto trading platform, crypto faucet
b) Middle East Trends: crypto news, crypto jungle,
crypto prices
c) Latin America
Brazil Trends: xen, luna, wrx, btc
Mexico Trends: btc, binance,
crypto market
Argentina Trends: shib, dolar, xrp, lirium
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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