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- Bitget Research: Crypto Market Pulls Back Awaiting CPI Data, BGB Surges Against the Trend Breaking Historical Highs
Bitget Research: Crypto Market Pulls Back Awaiting CPI Data, BGB Surges Against the Trend Breaking Historical Highs
Bitget Research
2023/11/14
the past 24 hours, there have been many new popular tokens and topics emerging in the 6779a30e-f8ce-46dc-8d28-ebf459cad8a2, and perhaps they could be the next market spotlight.
In Summary:
1.Popular Tokens:
XRP (Token) - According to a Bloomberg report, a registration document for the "iShares XRP Trust," allegedly submitted by asset management giant BlackRock and appearing on the official website of Delaware, attracted market attention today. Following the spread of this news, XRP briefly surged nearly 13%. However, a spokesperson for BlackRock clarified that the document is fraudulent and not associated with BlackRock. As per Bitget market data, the curren
t price is US$0.66, having almost completely erased the earlier gains.
TIA (Token) - Celestia is arguably the first modular blockchain network, essentially a pluggable consensus and data availability layer, enabling anyone to quickly deploy decentralized blockchains without the added costs of an extra consensus layer. Due to new capital inflows, the TIA token saw a rapid increase in value. Today, Celestia's live price is US$5.322637 (TIA/USD), with a current market cap of US$750.72 million and a 24-hour trading volume of US$861.18 million.
BGB (Token) - Yesterday's news that Foresight Ventures acquired a majority stake in The Block, valuing it at US$70 million, coupled with the recent significant increase in Bitget's market share, has led to a notable rise in Bitget's platform token, BGB, breaking past its previous high.
GROK (Token) - A memecoin created with an image of Elon Musk's xAI large model, GROK has experienced high on-
chain trading activity. The token's price surged for 10 days following its TGE and was listed on multiple CEXs, with the number of holders on-chain exceeding 12,000. Yesterday, renowned on-chain detective ZachXBT claimed that GROK was created by scammers, as the project's official 'X' account had been previously used for at least one other scam. This led to a significant drop in GROK's price. In response, the GROK official team quickly organized an AMA session. Currently, there is controversy on social media, which has driven its 24-hour tota
l trading volume to US$150 million (with over US$70 million in on-chain trading volume).
LINK (Token) - Chainlink Staking v0.2 is set to launch in phases, with general access opening on December 12. The Grayscale Chainlink Trust (GLINK) is trading at a 250% premium. The Hong Kong licensed exchange, HashKey Exchange, has also listed the LINK token for professional investors.
2.Popular NFTs:
Cradles Crystal Pass (NFT) - An NFT Pass for the
Web3 prehistoric ARPG game Cradles, mintable only by users on the whitelist. The number of holders on-chain has already exceeded 10,000. Cradles' Stake in the NFT mechanism enables players to strengthen themselves and earn more tokens. Players take on the role of adventurers traveling from the modern world to the wilderness, exploring the world and unraveling centuries-old historical stories. The project's community is highly active.
The Captainz (NFT) - Trading volume for Memeland's NFT has surged with the rise in the price of the $MEME token. Memeland stated on a social platform that it has never had a roadmap but is continuously sharpening and updating its strategic directions. The following five objectives represent the focus of its next development phase: Product, Event, NFT, Integration, and SWAG.
Layer3 (NFT) - NFTs by Layer3 project, issued on Polygon, with over 500,000 holders on-chain. To participate in their latest promotion and obtain a limited edition commemorative ONFT, users need to have completed tasks, such as having made a transaction on LayerZero paired with a retweet.
3.Popular DApps:
Bitget Swap, Bitget Red Packet (DApp) - Two of Bitget's exchange-integrated functional products have been featured on the Polygon daily active wallets list. Yesterday's news that Foresight Ventures acquired a majority stake in The Block, valuing it at US$70 million, coupled with the recent significant increase in Bitget's market share, has led to a notable rise in Bitget's platform token, BGB, breaking past its previous high.
Vertex (DApp) - Vertex is a decentralized exchange (DEX) protocol based on Arbitrum, offering cross-
margin trading services. It integrates spot, perpetual contracts, and money markets into one application. Vertex has announced its tokenomics and is currently conducting a 5-day Liquidity Bootstrapping Auction (LBA) public sale, with plans to launch its token soon.
NFPrompt (DApp) - A DApp with an AI and NFT platform concept, NFPrompt is a Web3 tool that enables ordinary people to become content creators through AI tools and monetize their content. Current platform data shows there are 161,617 creators and 709,982 NFTs.
4.Twitter Hot Topics:
TIA (Token) - Celestia is arguably the first modular blockchain network, essentially a pluggable consensus and data availability layer, enabling anyone to quickly deploy decentralized blockchains without the added costs of an extra consensus layer. Due to new capital inflows, the TIA token saw a rapid increase in value. Today, Celestia's live price is US$5.322637 (TIA/USD), with a current market cap of US$750.72 million and a 24-hour trading volume of US$861.18 million.
5.Regional Trending Searches:
XRP (Token) - According to a Bloomberg report, a registration document for the "iShares XRP Trust," allegedly submitted by asset management giant BlackRock and appearing on the official website of Delaware, attracted market attention today. Following the spread of this news, XRP briefly surged nearly 13%. However, a spokesperson for BlackRock clarified that the document is fraudulent and not associated with BlackRock. As per Bitget market data, the current price is US$0.66, having almost completely erased the earlier gains.
Main Body
Written by: Bitget Research
Data collection time: November 14, 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
SATS (Token) - SATS token is a BRC-20 token conceptually based on the smallest unit of Bitcoin, Satoshi, with a total supply of 21 million. Unisat officially proposed using it as the gas fee consumption token on the BRC-20 DEX. With the official launch of Unisat's BRC-20 Swap, the trading volume for SATS has increased, leading to a sustained surge in its price. SATS has been listed on Bitget and exhibits a notable wealth effect.
2.Blockchain Profile - ETH Chain
2.1 User Profile
2.1.1 Core Data
Total active users on ETH: 362,606
New active users on ETH: 67,421, with a daily decrease of 6.35%
Existing active users on ETH: 295,185, with a daily decrease of 1.99%
2.1.2 New User Profile
Core data: There were a total of 67,421 new active users on ETH yesterday, with a daily decrease of 6.35%
Popular Sectors
Popular Projects
Ethscription (DApp) - This project is a protocol for inscribing messages on Ethereum, developed by Tom Lehman, co-founder and former CEO of Genius.com. It allows the creation and sharing of digital objects on Ethereum using call data. The project has gained traction by leveraging the popularity of the BRC-20 assets of Ordinals protocol on the Bitcoin chain and has shown favorable performance recently.
2.1.3 Existing User Profile
Core data: The number of ETH active existing users is 295,185, with a daily decrease of 1.99%
Popular Sectors
Popular Projects
Maestro (DApp) - Maestro is a renowned on-chain bot, and the crypto community highly favors that. With the advantage of being an early player in the market, Maestro has established a substantial user base. In the next memecoin season, projects in the Bot sector may have good potential for growth. The usage of bots in the crypto community remains steady, and Maestro continues to maintain its position in the top three of the interaction leaderboard.
2.2 Popular Trading Pairs
2.2.1 Uniswap V2
GROK (Token) - A memecoin created with an image of Elon Musk's xAI large model, GROK has experienced high on-chain trading activity. The token's price surged for 10 days following its TGE and was listed on multiple CEXs, with the number of holders on-chain exceeding 12,000. Yesterday, renowned on-chain detective ZachXBT claimed that GROK was created by scammers, as the project's official 'X' account had been previously used for at least one other scam. This led to a significant drop in GROK's price. In response, the GROK official team quickly organized an AMA session. Currently, there is controversy on social media, which has driven its 24-hour total trading volume to US$150 million (with over US$70 million in on-chain trading volume).
2.2.2 Uniswap V3
The popularity of GROK token has led to a surge of similar-themed memecoins on the chain, such as Gravitas, GROK 2.0, and WEB. These tokens have relatively small on-chain liquidity, making them prone to signific
ant price fluctuations. It is important to exercise caution and manage risk.
2.3 Popular NFTs
2.3.1 Top NFT Collections
The Captainz (NFT) - Trading volume for Memeland's NFT has surged with the rise in the price of the $MEME token. Memeland stated on a social platform that it has never had a roadmap but is continuously sharpening and updating its strategic directions. The following five objectives represent the focus of its next development phase: Product, Event, NFT, Integration, and SWAG.
3.Blockchain Profile - BSC
3.1 User Profile
3.1.1 Core Data
Total active users on BSC: 1,041,693
New active users on BSC: 149,361, with a daily increase of 5.05%
Existing active users on BSC: 892,332, with a daily increase of 6.60%
3.1.2 New User Profile
Core data: There were a total of 149,361 new active users on BSC yesterday, with a daily increase of 5.05%
Popular Sectors
Popular Projects
Seg Finance (DApp) - A Play2Earn project on the BSC, where users can stake their shoe NFTs or provide liquidity to earn passive BNB profits. The project is now open source, and its contract on the BSC is transparent. It has over 1500 followers on Twitter and is an essential project to stay updated on.
3.1.3 Existing User Profile
Core data: The number of BSC active existing users is 892,332, with a daily increase of 6.60%
Popular Sectors
Popular Projects
PancakeSwap (DApp) - PancakeSwap is set to launch Butter Finance, a decentralized meta-governance and yield enhancement platform based on the veCAKE model. The introduction of veCAKE will allow governance participants to gain proposal voting rights, fee claims, CAKE release control, and up to 3 times reward enhancement when providing liquidity on PancakeSwap.
3.2 Popular Trading Pairs
3.2.1 PancakeSwap V2
There is a surge of tokens replicating GROK memecoin on BSC too. These tokens have relatively small on-chain liquidity, making them prone to significant price fluctuations. It is important to exercise caution and manage risk.
4.Blockchain Profile - Polygon Chain
4.1 User Profile
4.1.1 Core Data
Total active users on Polygon: 453,107
New active users on Polygon: 86,205, with a daily increase of 48.12%
Existing active users on Polygon: 366,902, with a daily increase of 4.07%
4.1.2 New User Profile
Core data: There were a total of 86,205 new active users on Polygon yesterday, with a daily increase of 48.12%
Popular Sectors
Popular Projects
MakerDAO (DApp) - On November 8, DLNews reported that MakerDAO's investment in the RWA direction in October 2022 is expected to yield a profit of US$73 million this year. Additionally, it paid US$1.5 million in stamp duty for its US bond transactions in Switzerland.
4.1.3 Existing User Profile
Core Data: The number of Polygon active existing users is 366,902, with a daily increase of 4.07%
Popular Sectors
Popular Projects
Layer3 (NFT) - NFTs by Layer3 project, issued on Polygon, with over 500,000 holders on-chain. To participate in their latest promotion and obtain a limited edition commemorative ONFT, users need to have completed tasks, such as having made a transaction on LayerZero paired with a retweet.
4.2 Popular Trading Pairs
4.2.1 Uniswap V3
LINK (Token) - Chainlink Staking v0.2 is set to launch in phases, with general access opening on December 12. The Grayscale Chainlink Trust (GLINK) is trading at a 250% premium. The Hong Kong licensed exchange, HashKey Exchange, has also listed the LINK token for professional investors.
5.Blockchain Profile - Arbitrum Chain
5.1 User Profile
5.1.1 Core Data
Total Active Users on Arbitrum: 142,474
New Active Users on Arbitrum: 25,228, with a daily decrease of 0.46%
Existing Active Users on Arbitrum: 117,246, with a daily decrease of 12.17%
5.1.2 New User Profile
Core data: There were a total of 25,228 new active users on Arbitrum yesterday, with a daily decrease of 0.46%
Popular Sectors
Popular Projects
Cradles Crystal Pass (NFT) - An NFT Pass for the Web3 prehistoric ARPG game Cradles, mintable only by users on the whitelist. The number of holders on-chain has already exceeded 10,000. Cradles' Stake in the NFT mechanism enables players to strengthen themselves and earn more tokens. Players take on the role of adventurers traveling from the modern world to the wilderness, exploring the world and unraveling centuries-old historical stories. The project's community is highly active.https://opensea.io/collection/cradles-crystal-pass
RhinoFi (DApp) - Rhino.fi is a multi-chain decentralized finance (DeFi) aggregator that offers a frictionless cross-chain experience, enabling users to access the best DeFi opportunities in one secure and reliable place. As a Layer 2 solution, Rhino.fi aims to provide users with easy multi-chain token transfer capabilities, delivering an ultimate cross-chain operation experience. It allows users to seamlessly switch between different blockchains without the need for complex bridging or network switching.
5.1.3 Existing User Profile
Core data: The number of Arbitrum active existing users is 117,246, with a daily decrease of 12.17%
Popular Sectors
Popular Projects
PostTech (DApp) - Post.Tech is an emerging SocialFi and DeFi platform, a replica of FriendTech on Arbitrum. The platform allows users to tokenize their profiles and posts. Post.Tech also features an airdrop event that rewards users for various activities on the platform, fostering a community-centered environment. Recently, the popularity of SocialFi DApps similar to FT has noticeably decreased, with several small-scale replicas experiencing soft rugs.
5.2 Popular Trading Pairs
5.2.1 Uniswap V3
There are no significant new trending projects on Arbitrum DEXs, with the focus primarily on blue-chip token trading.
6.Blockchain Profile - Base Chain
6.1 User Profile
6.1.1 Core Data
Total Active Users on Base: 55,171
New Active Users on Base: 7,719, with a daily decrease of 15.53%
Existing Active Users on Base: 47,452, with a daily decrease of 11.97%
6.1.2 New User Profile
Core data: There were a total of 7,719 new active users on Base yesterday, with a daily decrease of 15.53%
Popular Sectors
Popular Projects
Odos (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.
6.1.3 Existing User Profile
Core data: The number of Base active existing users is 47,452, with a daily decrease of 11.97%
Popular Sectors
Popular Projects
Dmail (DApp) - Dmail is a mail application based on Web 3.0 and Dfinity technology, integrating NFT functionality and distributed storage, with each account itself being an NFT. This project aims to bridge the gap between traditional email systems and blockchain-based email systems, thereby lowering the barrier for users and developers to engage with the crypto world. The design philosophy of Dmail is to make the use of blockchain technology as simple and intuitive as using the internet.
7. DApp Ecosystem - All Chains
Sweat Economy (DApp) - A traditional Web2 project that has transitioned to a Web3 wallet and a "Move to Earn" project, with currently 5 million downloads on Google Play. Users can earn SWEAT tokens through its Sweat Wallet application by engaging in daily physical activities.
8.DApp Ecosystem - ETH Chain
Yesterday, no notably popular DApps emerged on the Ethereum blockchain.
9.DApp Ecosystem - BSC
NFPrompt (DApp) - A DApp with an AI and NFT platform concept, NFPrompt is a Web3 tool that enables ordinary people to become content creators through AI tools and monetize their content. Current platform data shows there are 161,617 creators and 709,982 NFTs.
10.DApp Ecosystem - Polygon Chain
Bitget Swap, Bitget Red Packet (DApp) - Two of Bitget's exchange-integrated functional products have been featured on the Polygon daily active wallets list. Yesterday's news that Foresight Ventures acquired a majority stake in The Block, valuing it at US$70 million, coupled with the recent significant increase in Bitget's market share, has led to a notable rise in Bitget's platform token, BGB, breaking past its previous high.
11.DApp Ecosystem - WAX Chain
The daily UAW figures for DApps on the WAX chain experience normal fluctuations.
12.DApp Ecosystem - Solana Chain
Raydium (DApp) - Raydium is a leading DEX project in the Solana ecosystem. Recently, there has been a lot of news surrounding the potential reboot of FTX, which has brought significant attention to the Solana ecosystem.
13.DApp Ecosystem - Arbitrum Chain
The daily active user count for projects on Arbitrum has significantly decreased compared to the previous day.
14.DApp Ecosystem - Base Chain
The daily active user count for projects on Base has significantly decreased compared to the previous day.
15.DApp Ecosystem - GameFi Sector Across All Chains
Sweat Economy was described earlier in the report.
16.Gas Fee Consumption - ETH Chain
BananaGun (DApp) - Banana Gun is a Telegram bot designed to assist users in quickly purchasing new tokens on the Ethereum (ETH) network. The main function of the Banana Gun bot is to enable users to "snipe" cryptocurrency presales and trade tokens more efficiently. This means it facilitates users in identifying and participating in token presales, as well as in the smoother trading of existing tokens.
17.Gas Fee Consumption - BSC
Seg Finance (DApp) - A Play2Earn project on the BSC, where users can stake their shoe NFTs or provide liquidity to earn passive BNB profits. The project is now open source, and its contract on the BSC is transparent. It has over 1500 followers on Twitter and is an essential project to stay updated on.
18.Gas Fee Consumption - Polygon Chain
CoinTool (DApp) - A renowned on-chain toolbox, CoinTool, is frequently used for batch mining XEN. XEN is a social mining project based on the Proof of Participation (PoP) mechanism, enabling any cryptocurrency user to connect a compatible Web3 wallet and mint XEN tokens on Ethereum. The tokenomics of this project depends on the number of users and the mint period. As the number of participants increases, the difficulty of minting also rises, reducing the supply.
19.Gas Fee Consumption - Arbitrum Chain
Vertex (DApp) - Vertex is a decentralized exchange (DEX) protocol based on Arbitrum, offering cross-margin trading services. It integrates spot, perpetual contracts, and money markets into one application. Vertex has announced its tokenomics and is currently conducting a 5-day Liquidity Bootstrapping Auction (LBA) public sale, with plans to launch its token soon.
20.Gas Fee Consumption - Base Chain
Soswap (DApp) - RAI Finance's product that participated in the Base Onchain Summer event. Soswap, one of RAI Finance's decentralized financial products on Base, was launched on Base on August 9.
21.Twitter Trends Token Top Rank
TIA (Token) - Celestia is arguably the first modular blockchain network, essentially a pluggable consensus and data availability layer, enabling anyone to quickly deploy decentralized blockchains without the added costs of an extra consensus layer. Due to new capital inflows, the TIA token saw a rapid increase in value. Today, Celestia's live price is US$5.322637 (TIA/USD), with a current market cap of US$750.72 million and a 24-hour trading volume of US$861.18 million.
22.Google Trends - Global
XRP (Token) - According to a Bloomberg report, a registration document for the "iShares XRP Trust," allegedly submitted by asset management giant BlackRock and appearing on the official website of Delaware, attracted market attention today. Following the spread of this news, XRP briefly surged nearly 13%. However, a spokesperson for BlackRock clarified that the document is fraudulent and not associated with BlackRock. As per Bitget market data, the current price is US$0.66, having almost completely erased the earlier gains.
23.Google Trends Surge - East Asia, South Asia, Southeast Asia, Hong Kong, Macau, and Taiwan
a) South Asia Region
India Trends: aave, xen, xxbt
Pakistan Trends: btc, crypto batter, airdrop crypto
b) Southeast Asia Region
Malaysia Trends: best crypto wallet,
bitcoin price usd, xrp, bybit, matic, binance
Vietnam Trends: coingecko, crypto news
Indonesia Trends: the block, tia, shib, valcoin
c) East Asia and Hong Kong, Macau, and Taiwan
Trends: None
24.Google Trends Surge - English-speaking Countries, Europe, CIS Region
a) CIS Region
Trends: crypto bubbles, kraken, crypto news
b) English-speaking Countries
Australia Trends: pangolin, asx, saitama, doge, rlb
UK Trends: tia, eth, zilliqa, pangolin
USA Trends: pangolin, iis, png, bigtime
Canada Trends: sushi, bananagun, pangolin, algorand
c) Europe
France Trends: memecoin, paal, mbl, safu
Poland Trends: shib, btc, eth, ltc, arb, tia
Switzerland Trends: xrp, atom, sol, wsm, link, eth
Turkey Trends: free bitcoin, crypto fund trader, crypto royal
Germany Trends: shib, bit, jasmy, sui, tamadoge
Italy Trends: arkm, bnt, inj, ltc, juno
25.Google Trends Surge - Middle East, Latin America, Africa
a) Africa
South Africa Trends: xrp, eos, shib, luno, valr
Nigeria Trends: coinbase, cosmos crypto
b) Middle East
UAE Trends:
crypto prices, bitcoin, xrp
c) Latin America
Brazil Trends: tia, memecoin, maker, bnt, ada
Argentina Trends: trx, dolar, nexo
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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