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- Bitget Research: Bitcoin Experiences V-Shaped Rebound Nearing US$38,000, Probability of Unchanged Interest Rates in December by Federal Reserve Rises to 94.5%
Bitget Research: Bitcoin Experiences V-Shaped Rebound Nearing US$38,000, Probability of Unchanged Interest Rates in December by Federal Reserve Rises to 94.5%
Bitget Research
2023/11/16
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:
RATS (Token) - This is a memecoin on the BRC-20 blockchain representing rats. Influenced by the recent surge of capital inflow into the sector, the token has seen a sharp increase in on- XCNUSDT">
chain trading volume. Its 24-hour trading volume is 96 BTC (approximately US$1.56 million), making it the second-largest BRC-20 token on the chain by trading volume, with a market cap of US$49 million.
GROK (Token) - GROK is a memecoin named after the artificial intelligence model GROK, developed by Elon Musk's company XAI. It currently enjoys significant hype on-chain. Despite recent instances of FUD, the project confidently burned tokens worth nearly US$3 million. Over the past two days, its price experienced a significant rebound, at one point surging by 60%, reaching a market cap of US$90 million.
MUBI (Token) - A trending project, MUBI primarily facilitates cross-chain transactions between BRC-20 and ERC-20 tokens. The project conducted its IDO on Bounce and received official comments from DWF Labs. Given the high demand for BRC-20 tokens, the project's approach is well-targeted. MUBI has an open-source contract, with a 24-hour trading volume of approximately US$5 million and a market cap of US$9 million. The price has risen by 88% in the past 24 hours. It is advisable to keep this token on your radar.
MATIC (Token) - The centralized exchange OKX announced the building of a Layer 2 network using PolygonSDK. This announcement, combined with the strategic collaboration declared earlier this month between the NEAR Foundation and Polygon Labs to jointly develop a zero-knowledge (ZK) prover zkWASM for
blockchains with WebAssembly (WASM), signifies Polygon Network's efforts in building major network infrastructure. During the current upswing in the
crypto market, MATIC has shown commendable performance, rising approximately 90% from its low point.
GMX (Token) - The decentralized derivatives protocol GMX officially announced that trading incentives have been enabled for all V2
markets. This initiative aims to reduce the average trading fee for decentralized perpetua l trading platforms to 0.02%, setting the stage for direct competition in transaction fees between DeFi (Decentralized Finance) and CeFi (Centralized Finance).
2.Popular NFTs:
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.Popular DApps:
Banana Gun (DApp) - The project is a Telegram Bot that helps users trade on DEXs. BananaGun's official announcement states that the protocol's total trading volume has reached US$388 million, ranking second in the BOT sector. Concurrently, the on-chain trading volume for its token hit a record high of US$8.65 million in one day, yielding 28 ETH in fees. The BANANA token has recently shown a strong upward price trend, with a peak increase of over 60% in the past three days, and a market cap of US$37.4 million.
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. Currently, Maestro's daily transaction fees have increased to previous high points, ranging between US$150,000 and US$200,000, which helps it maintain its top position in the BOT sector.
Circle (DApp) - Circle has initiated consultations with advisors about a potential IPO in early next year. The company faces considerable challenges for its IPO, especially as the market share of its primary product, the USDC stablecoin, has dwindled to below 19%, a sharp decline from the levels seen before the company withdrew its public listing last December. Today, Circle announced a strategic investment in the Sei Network to support the introduction of native USDC on this network.
Compound (DApp) - A new proposal suggests adding rETH as collateral and allocating 7770 COMP tokens for growth plans. Meanwhile, the new company of Compound's founder, Superstate, has completed a $14 million fundraising round, led by CoinFund and Distributed Global. This new venture focuses on developing regulated and compliant investment tools on public blockchains accessible to U.S. investors.
Treasure (DApp) - TreasureDAO is a decentralized NFT ecosystem project based on Ethereum's Layer 2 network, Arbitrum. It originated as a derivative of the Loot project and launched its first batch of 10,000 project items in August 2021. TreasureDAO highlights the acquisition of valuable items in its games without the need for purchases, setting it apart from numerous other NFT or gaming projects. The project supports its ecosystem through the MAGIC token and a DAO (Decentralized Autonomous Organization), aiming to create a modular and open platform for NFT and game integration.
QuickSwap (DApp) - QuickSwap is a DEX based on the Polygon network, inspired by and cloned from the popular Uniswap v2 on Ethereum. It allows users to swap tokens with minimal delay and at very low transaction costs. Leveraging Polygon's Layer 2 scaling solutions, QuickSwap has achieved faster transaction confirmation times and reduced network fees, aiming to address Ethereum network congestion and high transaction costs. By using liquidity pools, users can also become liquidity providers to earn transaction fees, increasing the possibility for participants to earn profits.
4.Twitter Hot Topics:
BONK (Token) - A top memecoin in the Solana ecosystem, BONK has seen a 4x increase over the past month as the Solana ecosystem gained momentum and the prominent projects within the ecosystem experienced a surge in value. It has seen over a 40% increase in the past 24 hours and is very popular on social media.
5.Regional Trending Searches:
Bitcoin (Token) - The crypto market continues its strong performance. After correction, BTC hit a new high, and the risk preference gradually shifted toward altcoin speculation. The launch of a spot ETF scheduled for November may be postponed. U.S. stocks experienced upward volatility, while the U.S. dollar index decreased. A significant drop in the October PPI supports the notion of declining inflation. However, there is caution over Warren Buffett's substantial reduction in his U.S. stock holdings.
Main Body
Written by: Bitget Research
Data collection time: November 16, 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
RATS (Token) - This is a memecoin on the BRC-20 blockchain representing rats. Influenced by the recent surge of capital inflow into the sector, the token has seen a sharp increase in on-chain trading volume. Its 24-hour trading volume is 96 BTC (approximately US$1.56 million), making it the second-largest BRC-20 token on the chain by trading volume, with a market cap of US$49 million.
2.Blockchain Profile - ETH Chain
2.1 User Profile
2.1.1 Core Data
Total active users on ETH: 385,944
New active users on ETH: 71,249, with a daily increase of 4.90%
Existing active users on ETH: 314,695, with a daily increase of 5.77%
2.1.2 New User Profile
Core data: There were a total of 71,249 new active users on ETH yesterday, with a daily increase of 4.90%
Popular Sectors
Popular Projects
Key Projects:
Banana Gun (DApp) - The project is a Telegram Bot that helps users trade on DEXs. BananaGun's official announcement states that the protocol's total trading volume has reached US$388 million, ranking second in the BOT sector. Concurrently, the on-chain trading volume for its token hit a record high of US$8.65 million in one day, yielding 28 ETH in fees. The BANANA token has recently shown a strong upward price trend, with a peak increase of over 60% in the past three days, and a market cap of US$37.4 million.
2.1.3 Existing User Profile
Core data: The number of ETH active existing users is 314,695, with a daily increase of 5.77%
Popular Sectors
Popular Projects
Key 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. Currently, Maestro's daily transaction fees have increased to previous high points, ranging between US$150,000 and US$200,000, which helps it maintain its top position in the BOT sector.
2.2 Popular Trading Pairs
2.2.1 Uniswap V2
GROK (Token) - GROK is a memecoin named after the artificial intelligence model GROK, developed by Elon Musk's company XAI. It currently enjoys significant hype on-chain. Despite recent instances of FUD, the project confidently burned tokens worth nearly US$3 million. Over the past two days, its price experienced a significant rebound, at one point surging by 60%, reaching a market cap of US$90 million.
2.2.2 Uniswap V3
MUBI (Token) - A trending project, MUBI primarily facilitates cross-chain transactions between BRC-20 and ERC-20 tokens. The project conducted its IDO on Bounce and received official comments from DWF Labs. Given the high demand for BRC-20 tokens, the project's approach is well-targeted. MUBI has an open-source contract, with a 24-hour trading volume of approximately US$5 million and a market cap of US$9 million. The price has risen by 88% in the past 24 hours. It is advisable to keep this token on your radar.
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: 1,024,074
New active users on BSC: 144,135, with a daily decrease of 1.14%
Existing active users on BSC: 879,939, with a daily decrease of 0.17%
3.1.2 New User Profile
Core data: There were a total of 144,135 new active users on BSC yesterday, with a daily decrease of 1.14%
Popular Sectors
Popular Projects
Key Projects:
TinyTap (DApp) - TinyTap is a vast library of games created by educators. Now under the umbrella of Animoca Brands, the project is dedicated to forging an open, blockchain-driven educational ecosystem. TinyTap offers a no-code platform, enabling educators to create and share interactive educational content and earn a share of the revenue when learners utilize their content. Creators can craft TinyTap content and activities via TinyTap's iPad application or its website. TinyTap is accessible on iOS, Android, and web platforms. Parents and educators use TinyTap, which enables over 9.2 million registered family members to learn from more than 250,000 interactive courses and educational games created by teachers and publishers, such as Oxford University Press, The Learning Company, and Sesame Street.
3.1.3 Existing User Profile
Core data: The number of BSC active existing users is 879,939, with a daily decrease of 0.17%
Popular Sectors
Popular Projects
Key Projects:
Hooked (DApp) - Hooked Protocol aims to address major challenges in the adoption of Web3, such as lack of user motivation, high entry barriers, and a shortage of Web3 education. The project encourages users to embark on their Web3 journey by offering gamified learning experiences and incentive mechanisms.
3.2 Popular Trading Pairs
3.2.1 PancakeSwap V2
Projects on BSC are primarily direct replicas of Ethereum projects, with shorter lifespans. Caution is advised due to the associated risks.
4.Blockchain Profile - Polygon Chain
4.1 User Profile
4.1.1 Core Data
Total active users on Polygon: 463,340
New active users on Polygon: 86,383, with a daily increase of 14.63%
Existing active users on Polygon: 376,957, with a daily increase of 20.31%
4.1.2 New User Profile
Core data: There were a total of 86,383 new active users on Polygon yesterday, with a daily increase of 14.63%
Popular Sectors
Popular Projects
Key Projects:
Polygon network is witnessing a rise in contracts for minting inscription tokens, with the market exhibiting a high FOMO sentiment for inscription tokens.
4.1.3 Existing User Profile
Core Data: The number of Polygon active existing users is 376,957, with a daily increase of 20.31%
Popular Sectors
Popular Projects
Key Projects:
Planetix (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.
4.2 Popular Trading Pairs
4.2.1 Uniswap V3
MATIC (Token) - The centralized exchange OKX announced the building of a Layer 2 network using PolygonSDK. This announcement, combined with the strategic collaboration declared earlier this month between the NEAR Foundation and Polygon Labs to jointly develop a zero-knowledge (ZK) prover zkWASM for blockchains with WebAssembly (WASM), signifies Polygon Network's efforts in building major network infrastructure. During the current upswing in the crypto market, MATIC has shown commendable performance, rising approximately 90% from its low point.
5.Blockchain Profile - Arbitrum Chain
5.1 User Profile
5.1.1 Core Data
Total Active Users on Arbitrum: 160,080
New Active Users on Arbitrum: 22,488, with a daily decrease of 5.96%
Existing Active Users on Arbitrum: 137,592, with a daily increase of 3.85%
5.1.2 New User Profile
Core data: There were a total of 22,488 new active users on Arbitrum yesterday, with a daily decrease of 5.96%
Popular Sectors
Popular Projects
Key Projects:
The Graph (DApp) - The Graph community has decided to expand through Arbitrum, aiming to enhance The Graph's accessibility within the Web3 ecosystem and reduce Gas costs. Currently, 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 infrastructure-focused, and it continues to develop despite the ongoing bear market.
5.1.3 Existing User Profile
Core data: The number of Arbitrum active existing users is 137,592, with a daily increase of 3.85%
Popular Sectors
Popular Projects
Key Projects:
Circle (DApp) - Circle has initiated consultations with advisors about a potential IPO in early next year. The company faces considerable challenges for its IPO, especially as the market share of its primary product, the USDC stablecoin, has dwindled to below 19%, a sharp decline from the levels seen before the company withdrew its public listing last December. Today, Circle announced a strategic investment in the Sei Network to support the introduction of native USDC on this network.
5.2 Popular Trading Pairs
5.2.1 Uniswap V3
GMX (Token) - The decentralized derivatives protocol GMX officially announced that trading incentives have been enabled for all V2 markets. This initiative aims to reduce the average trading fee for decentralized perpetual trading platforms to 0.02%, setting the stage for direct competition in transaction fees between DeFi (Decentralized Finance) and CeFi (Centralized Finance).
6.Blockchain Profile - Base Chain
6.1 User Profile
6.1.1 Core Data
Total Active Users on Base: 57,514
New Active Users on Base: 8,274, with a daily increase of 5.04%
Existing Active Users on Base: 49,240, with a daily increase of 3.97%
6.1.2 New User Profile
Core data: There were a total of 8,274 new active users on Base yesterday, with a daily increase of 5.04%
Popular Sectors
Popular Projects
Key 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 49,240, with a daily increase of 3.97%
Popular Sectors
Popular Projects
Key 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
Compound (DApp) - A new proposal suggests adding rETH as collateral and allocating 7770 COMP tokens for growth plans. Meanwhile, the new company of Compound's founder, Superstate, has completed a $14 million fundraising round, led by CoinFund and Distributed Global. This new venture focuses on developing regulated and compliant investment tools on public blockchains accessible to U.S. investors.
9.DApp Ecosystem - BSC
TinyTap (DApp) - TinyTap is a vast library of games created by educators. Now under the umbrella of Animoca Brands, the project is dedicated to forging an open, blockchain-driven educational ecosystem. TinyTap offers a no-code platform, enabling educators to create and share interactive educational content and earn a share of the revenue when learners utilize their content. Creators can craft TinyTap content and activities via TinyTap's iPad application or its website. TinyTap is accessible on iOS, Android, and web platforms. Parents and educators use TinyTap, which enables over 9.2 million registered family members to learn from more than 250,000 interactive courses and educational games created by teachers and publishers, such as Oxford University Press, The Learning Company, and Sesame Street.
10.DApp Ecosystem - Polygon Chain
Kratos Studios (DApp) - Kratos Studios, based in India, is a Web3 gaming startup and the intellectual property owner of the world's largest gaming DAO, IndiGG. Established in 2022, the company focuses on developing various types of games, operating as a Web3 gaming company. In addition to holding the intellectual property of IndiGG, Kratos Studios is also an active investor in the global Web3 gaming space.
11.DApp Ecosystem - WAX Chain
Wombat Dungeon Master (DApp) - An NFT staking game built on the EOS and WAX blockchains. It has maintained a consistent presence in the top 10 within the WAX ecosystem. Currently, in Season 3, Sidekicks has recently undergone significant updates with increased parameter values, enabling users to acquire more WOMBAT tokens.
12.DApp Ecosystem - Solana Chain
Magic Eden (DApp) - Magic Eden is recognized for its user-friendly interface, rapid processing times, robust security, and an array of standout features that simplify the buying and selling experience. For instance, Magic Eden collaborates closely with creators via its Launchpad, assisting them in crafting, minting, marketing, and successfully launching projects. Designed specifically for trading non-fungible tokens (NFTs), Magic Eden operates as a peer-to-peer marketplace built on the Solana chain.
13.DApp Ecosystem - Arbitrum Chain
Treasure (DApp) - TreasureDAO is a decentralized NFT ecosystem project based on Ethereum's Layer 2 network, Arbitrum. It originated as a derivative of the Loot project and launched its first batch of 10,000 project items in August 2021. TreasureDAO highlights the acquisition of valuable items in its games without the need for purchases, setting it apart from numerous other NFT or gaming projects. The project supports its ecosystem through the MAGIC token and a DAO (Decentralized Autonomous Organization), aiming to create a modular and open platform for NFT and game integration.
14.DApp Ecosystem - Base Chain
Stargate (DApp) - Stargate is a liquidity transfer protocol and the core project of the LayerZero ecosystem. Currently, the number of unique addresses staking its STG token has reached 1.1 million, with over 40 million STG tokens being staked. With Stargate, users and DApps can transfer native assets across multiple chains (with more to come in the future).
15.DApp Ecosystem - GameFi Sector Across All Chains
BLCR (DApp) - This card battle game consists mainly of 53 playing cards. It combines blockchain, artificial intelligence, and card battle games. Periodic battle rankings and rewards are featured in the game.
16.Gas Fee Consumption - ETH Chain
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.
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
QuickSwap (DApp) - QuickSwap is a DEX based on the Polygon network, inspired by and cloned from the popular Uniswap v2 on Ethereum. It allows users to swap tokens with minimal delay and at very low transaction costs. Leveraging Polygon's Layer 2 scaling solutions, QuickSwap has achieved faster transaction confirmation times and reduced network fees, aiming to address Ethereum network congestion and high transaction costs. By using liquidity pools, users can also become liquidity providers to earn transaction fees, increasing the possibility for participants to earn profits.
19.Gas Fee Consumption - Arbitrum Chain
GMX (DApp) - GMX is a decentralized exchange (DEX) specifically designed for trading perpetual
cryptocurrency futures, offering up to 50x leverage. The cryptocurrencies available for trading include popular ones such as Bitcoin (BTC) and Ethereum (ETH). Currently a leading project in the Arbitrum ecosystem, GMX has a TVL of US$486 million. Recently, it officially launched a short-term incentive program involving 12 million ARB tokens, which will be distributed over 12 weeks as liquidity and trading incentives.
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.Top Trending Tokens on Twitter
BONK (Token) - A top memecoin in the Solana ecosystem, BONK has seen a 4x increase over the past month as the Solana ecosystem gained momentum and the prominent projects within the ecosystem experienced a surge in value. It has seen over a 40% increase in the past 24 hours and is very popular on social media.
22.Google Trends - Global
Bitcoin (Token) - The crypto market continues its strong performance. After correction, BTC hit a new high, and the risk preference gradually shifted toward altcoin speculation. The launch of a spot ETF scheduled for November may be postponed. U.S. stocks experienced upward volatility, while the U.S. dollar index decreased. A significant drop in the October PPI supports the notion of declining inflation. However, there is caution over Warren Buffett's substantial reduction in his U.S. stock holdings.
23.Google Trends Surge - East Asia, South Asia, Southeast Asia, Hong Kong, Macau, and Taiwan
a) South Asia Region
India Trends: polkadot crypto, polygon crypto, polygon crypto news
Pakistan Trends: crypto mining, coinmarketcap, gala crypto
b) Southeast Asia Region
Malaysia Trends: crypto bubble, avalanche crypto, solana crypto
Vietnam Trends: coingecko, tin tức crypto 24h
Singapore Trends: coinbase, usd to sgd, coinmarketcap
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, arkham crypto, crypto com
b) English-speaking Countries
Australia Trends: crypto castle, rune crypto, ai crypto coins
UK Trends: grok, bnt crypto, dydx crypto
USA Trends: hamas crypto, trader joe crypto, xpr crypto, $grok crypto
Canada Trends: kas crypto, gaza saudi arabia
c) Europe
France Trends: jvc finance, farm crypto, bancor crypto
Poland Trends: grok, trx crypto, usd to pln
Switzerland Trends: crypto bubbles, polygon crypto, avax crypto
Turkey Trends: crypto kemal twitter, rsi heatmap crypto
Germany Trends: crypto boy netflix, kusama crypto, zrx crypto
Italy Trends: bittorrent crypto, centrifuge crypto, doge crypto
25.Google Trends Surge - Middle East, Latin America, Africa
a) Africa
South Africa Trends: binance,
solana price usd,
xrp price live
Nigeria Trends: xrp price, airdrop crypto
b) Middle East
UAE Trends: coinmarketcap, solana crypto, solana price prediction
c) Latin America
Brazil Trends: polygon crypto, ooki crypto, near crypto
Argentina Trends: bitcoin, trb crypto, coinmarketcap
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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