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- Bitget Research: Blast Attracts Around US$100M Within 2 Days of Launch, U.S. Department of Justice Reaches Settlement with Binance
Bitget Research: Blast Attracts Around US$100M Within 2 Days of Launch, U.S. Department of Justice Reaches Settlement with Binance
Bitget Research
2023/11/22
the past 24 hours, there have been many new popular tokens and topics emerging in the market, and perhaps they could be the next b3eac8ff-93b0-4ad2-ab22-587c6a9a339b spotlight.
In Summary:
1.Popular Tokens:
rats (Token) - Rats is one of the more active projects in the BRC-20 token community. The project primarily aims to satirize rat trading by project teams, with its main selling point being a fair launch. It has an active community with a strong consensus.
ATOR (Token) - Yesterday, ATOR tokens experienced a significant sell-off, primarily due to the removal of nearly a thousand relay nodes operated by Ator (a major use case) from the prominent dark net connector, The Onion Network (TOR). This led to a drastic 66% drop in the token's price within a single day. Ator has announced plans to establish its own decentralized peer-to-peer routing network.
BLUR (Token) - BLUR opened the Season 2 airdrop yesterday, simultaneously starting the token pre-mining for Season 3. The pre-mining process requires staking BLUR tokens. This strategy not only prevented BLUR from facing significant selling pressure but also led to a counter-trend rise in the token's value.
WBNB (Token) - Yesterday, Binance reached a preliminary settlement with the U.S. Department of Justice. CZ will resign from his position as CEO of Binance and will pay a fine of US$4.3 billion in accordance with the U.S. Department of Justice's lawsuit. BNB is an important part of Binance's ecosystem, and the news caused significant fluctuations in its value.
2.Popular NFTs:
Neo Tokyo Outer Citizens (NFT) - Alex Becker, the founder of Neo Tokyo, announced on social media that Neo Tokyo will collaborate with AVAX to develop related games on the chain. Influenced by this news, Neo Tokyo's trading volume has seen a significant increase.
Smartcat (NFT) - Recently launched by SmartLayer, this NFT project has garnered considerable attention on the chain. The current number of holders is 880,000.
3.Popular DApps:
Blast: LaunchBridge (DApp) - The yield-generating Layer 2 solution Blast, invested in by Paradigm, was officially launched yesterday. The introduction of the referral program has led to increased attention and dissemination, and there is strong anticipation for an airdrop.
Blur: Holding (DApp) - Yesterday, Blur released Season 2 airdrop, totaling 307 million BLUR tokens. Concurrently, Blur also initiated BLUR staking and pre-mining for Season 3, with many tokens currently being staked and pre-mined.
Port3 Aggregator (DApp) - Port3 is a social data oracle project incubated by Binance Labs. Its main features include the creation of a decentralized social data oracle based on data aggregation, and providing open data layer services for various
Web3 identities and asset applications. It also introduces an incentive layer to empower contributors, aiming to ensure user data ownership. Port3's social data oracle aims to address three core issues: data organization and connectivity, data rights ownership by users, and user privacy protection.
Orbiter (DApp) - Orbiter is a renowned cross-chain bridge project leveraging ZK technology to accelerate cross-chain operations. It has technical advantages, offering relatively lower costs compared to other cross-chain bridge projects. Additionally, it serves as an important on-chain analytical tool, providing fundamental data about various DApps and Layer 2 situations on its official website. The project has not launched its token yet, making it essential to stay updated.
Fren Pet (DApp) - Fren Pet is currently the most interacted DApp on the Base chain, with its contract holding 127.6 ETH. With a notably active player base, it is advisable to continue monitoring this DApp closely.
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. Yesterday, it completed its TGE, and the VRTX token was initially listed on Bitget, Bybit, and KuCoin exchanges.
4.Twitter Hot Topics:
BNB (Token) - The U.S. Department of the Treasury announced a settlement with Binance, which includes a fine of US$4.3 billion to be paid by Binance. Changpeng Zhao tweeted that he had stepped down as CEO of Binance, and Richard Teng, former regional markets head of Binance, will take over as CEO. BNB has fallen 9% in the past 24 hours.
5.Regional Trending Searches:
Kraken - On November 21, the U.S. Securities and Exchange Commission (SEC) accused Kraken of improperly mixing client funds and operating an unregistered platform. The SEC reiterated in the Kraken lawsuit that 11 tokens, including SOL and ADA, are classified as "securities."
Binance and CZ - 1. In its settlement announcement with Binance, the U.S. Treasury Department stated that, in addition to a US$3.4 billion civil fine by the Financial Crimes Enforcement Network (FinCEN), Binance will also be under five years of regulation and is required to make significant compliance commitments, including ensuring Binance completely exits the United States. Besides imposing a US$968 million fine on Binance, the OFAC settlement agreement requires Binance to adhere to a series of strict sanction compliance obligations, including full cooperation with regulatory agencies overseen by FinCEN; 2. Changpeng Zhao tweeted that he had stepped down as CEO of Binance, and Richard Teng, former regional markets head of Binance, will take over as CEO.
BLUR (Token) - Blur has opened the Season 2 airdrop claim, with a total of 307 million BLUR tokens, and initiated a six-month-long Season 3 airdrop. The new L2 network Blast, launched by Blur's founder Pacman, reached a TVL of US$81.265 million and a user count of 23,368 on its first day.
Main Body
Written by: Bitget Research
Data collection time: November 22, 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)
5) In this report, the term "Entity" refers to both Contract Account (CA) and Ethereum Original Account (EOA), and is not a result of the aggregation of actual entity addresses.
1.BTC Profile - BRC-20
rats (Token) - Rats is one of the more active projects in the BRC-20 token community. The project primarily aims to satirize rat trading by project teams, with its main selling point being a fair launch. It has an active community with a strong consensus.
2.Blockchain Profile - ETH Chain
2.1 User Profile
2.1.1 Core Data
Total active users on ETH: 413,017
New active users on ETH: 76,306, with a daily decrease of 20.34%
Existing active users on ETH: 336,711, with a daily increase of 0.99%
2.1.2 New User Profile
Core data: There were a total of 76,306 new active users on ETH yesterday, with a daily decrease of 20.34%
Popular Sectors
Popular Projects
Key Projects:
Blast: LaunchBridge (DApp) - The yield-generating Layer 2 solution Blast, invested in by Paradigm, was officially launched yesterday. The introduction of the referral program has led to increased attention and dissemination, and there is strong anticipation for an airdrop.
2.1.3 Existing User Profile
Core data: The number of ETH active existing users is 336,711, with a daily increase of 0.99%
Popular Sectors
Popular Projects
Key Projects:
Blur: Holding (DApp) - Yesterday, Blur released Season 2 airdrop, totaling 307 million BLUR tokens. Concurrently, Blur also initiated BLUR staking and pre-mining for Season 3, with many tokens currently being staked and pre-mined.
2.2 Popular Trading Pairs
2.2.1 Uniswap V2
ATOR (Token) - Yesterday, ATOR tokens experienced a significant sell-off, primarily due to the removal of nearly a thousand relay nodes operated by Ator (a major use case) from the prominent dark net connector, The Onion Network (TOR). This led to a drastic 66% drop in the token's price within a single day. Ator has announced plans to establish its own decentralized peer-to-peer routing network.
2.2.2 Uniswap V3
BLUR (Token) - BLUR opened the Season 2 airdrop yesterday, simultaneously starting the token pre-mining for Season 3. The pre-mining process requires staking BLUR tokens. This strategy not only prevented BLUR from facing significant selling pressure but also led to a counter-trend rise in the token's value.
2.3 Popular NFTs
2.3.1 Top NFT Collections
Neo Tokyo Outer Citizens (NFT) - Alex Becker, the founder of Neo Tokyo, announced on social media that Neo Tokyo will collaborate with AVAX to develop related games on the chain. Influenced by this news, Neo Tokyo's trading volume has seen a significant increase.
3.Blockchain Profile - BSC
3.1 User Profile
3.1.1 Core Data
Total active users on BSC: 978,326
New active users on BSC: 138,709, with a daily increase of 1.86%
Existing active users on BSC: 839,617, with a daily decrease of 1.13%
3.1.2 New User Profile
Core data: There were a total of 138,709 new active users on BSC yesterday, with a daily increase of 1.86%
Popular Sectors
Popular Projects
Key Projects:
Inscription mint - With the wealth-generating impact of inscriptions expanding, their usage has spread across various chains, including a considerable rise in inscription minting on BSC. However, with the growing number of projects, the quality varies significantly. Users are advised to be aware of the risks.
3.1.3 Existing User Profile
Core data: The number of BSC active existing users is 839,617, with a daily decrease of 1.13%
Popular Sectors
Popular Projects
Key Projects:
Port3 Aggregator (DApp) - Port3 is a social data oracle project incubated by Binance Labs. Its main features include the creation of a decentralized social data oracle based on data aggregation, and providing open data layer services for various Web3 identities and asset applications. It also introduces an incentive layer to empower contributors, aiming to ensure user data ownership. Port3's social data oracle aims to address three core issues: data organization and connectivity, data rights ownership by users, and user privacy protection.
3.2 Popular Trading Pairs
3.2.1 PancakeSwap V2
WBNB (Token) - Yesterday, Binance reached a preliminary settlement with the U.S. Department of Justice. CZ will resign from his position as CEO of Binance and will pay a fine of US$4.3 billion in accordance with the U.S. Department of Justice's lawsuit. BNB is an important part of Binance's ecosystem, and the news caused significant fluctuations in its value.
4.Blockchain Profile - Polygon Chain
4.1 User Profile
4.1.1 Core Data
Total active users on Polygon: 447,951
New active users on Polygon: 94,834, with a daily decrease of 1.92%
Existing active users on Polygon: 353,117, with a daily increase of 14.12%
4.1.2 New User Profile
Core data: There were a total of 94,834 new active users on Polygon yesterday, with a daily decrease of 1.92%
Popular Sectors
Popular Projects
Key Projects:
Smartcat (NFT) - Recently launched by SmartLayer, this NFT project has garnered considerable attention on the chain. The current number of holders is 880,000.
4.1.3 Existing User Profile
Core Data: The number of Polygon active existing users is 353,117, with a daily increase of 14.12%
Popular Sectors
Popular Projects
Key Projects:
Galxe (DApp) - Project Galaxy supports a variety of data sources, including both on-chain and off-chain. For on-chain credentials, curators can contribute through subgraph queries or static snapshots. For off-chain credentials, Project Galaxy has integrated with platforms like Snapshot.org, Twitter, and Github. This support for diverse data sources enables Project Galaxy to more broadly collect and utilize data.
4.2 Popular Trading Pairs
4.2.1 Uniswap V3
There are no particularly notable tokens on Polygon.
5.Blockchain Profile - Arbitrum Chain
5.1 User Profile
5.1.1 Core Data
Total Active Users on Arbitrum: 218,293
New Active Users on Arbitrum: 28,279, with a daily increase of 31.92%
Existing Active Users on Arbitrum: 190,014, with a daily increase of 1.07%
5.1.2 New User Profile
Core data: There were a total of 28,279 new active users on Arbitrum yesterday, with a daily increase of 31.92%
Popular Sectors
Popular Projects
Key Projects:
Orbiter (DApp) - Orbiter is a renowned cross-chain bridge project leveraging ZK technology to accelerate cross-chain operations. It has technical advantages, offering relatively lower costs compared to other cross-chain bridge projects. Additionally, it serves as an important on-chain analytical tool, providing fundamental data about various DApps and Layer 2 situations on its official website. The project has not launched its token yet, making it essential to stay updated.
5.1.3 Existing User Profile
Core data: The number of Arbitrum active existing users is 190,014, with a daily increase of 1.07%
Popular Sectors
Popular Projects
Key Projects:
SushiSwap (DApp) - SushiSwap continues to provide incentives on the Arbitrum network. The annualized yield rate for the ETH/ARB trading pair is approximately 98%, attracting a substantial amount of funds.
5.2 Popular Trading Pairs
5.2.1 Uniswap V3
There are no significantly performing tokens on Arbitrum.
6.Blockchain Profile - Base Chain
6.1 User Profile
6.1.1 Core Data
Total Active Users on Base: 60,036
New Active Users on Base: 9,018, with a daily decrease of 1.13%
Existing Active Users on Base: 51,018, with a daily increase of 6.45%
6.1.2 New User Profile
Core data: There were a total of 9,018 new active users on Base yesterday, with a daily decrease of 1.13%
Popular Sectors
Popular Projects
Key Projects:
Fren Pet (NFT) - A new NFT project on the Base chain. The floor price of the project's NFTs is 0.0066ETH, with a tota
l trading volume of 0.2225 ETH. Fren Pet is a cross-chain pet simulation game inspired by Friend.tech and developed jointly by Adam (@surfcoderepeat) and Cadu (@cadu_veloso). Some influencers are actively promoting the project on social media. Currently, the DApp shows average stability, with instances of downtime that were quickly resolved. It is worth keeping an eye on for future developments.
6.1.3 Existing User Profile
Core data: The number of Base active existing users is 51,018, with a daily increase of 6.45%
Popular Sectors
Popular Projects
Key Projects:
Fren Pet (DApp) - Fren Pet is currently the most interacted DApp on the Base chain, with its contract holding 127.6 ETH. With a notably active player base, it is advisable to continue monitoring this DApp closely.
7. DApp Ecosystem - All Chains
KAI-CHING (DApp) - A Web3 shopping website on the Near chain. According to data statistics, it currently has a high number of weekly active users.
8.DApp Ecosystem - ETH Chain
Blur (DApp) - Blur has now surpassed OpenSea in terms of weekly active users, becoming the largest decentralized NFT exchange.
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
ParaSwap (DApp) - ParaSwap is a multi-chain decentralized exchange (DEX) aggregator operating on the Ethereum blockchain, dedicated to enhancing user experience when navigating various decentralized finance (DeFi) protocols. Its ultimate goal is to facilitate
liquidity flow in the decentralized market. ParaSwap's mission is to elevate DeFi participation to new heights by offering secure, intelligent, and optimized trading solutions for both individual and institutional traders, enabling them to seamlessly tap into decentralized liquidity pools.
11.DApp Ecosystem - WAX Chain
Alien Worlds (DApp) - "Alien Worlds" is a rapidly growing, blockchain-based game and is among the largest DApps currently. It was co-founded by Sarojina McKenna and Michael Yeates. Elevating the concept of blockchain gaming to a new tier, the project combines non-fungible tokens (NFTs) with interstellar/alien fantasies to provide users with an immersive and robust gaming experience that rewards them innovatively. Alien Worlds is a decentralized NFT metaverse where players compete for the scarce resource Trilium (TLM) in a planet-centric exciting economy. They can amplify their influence in the game by voting and staking within decentralized autonomous organizations (Planet DAOs) on the planets.
12.DApp Ecosystem - Solana Chain
Jupiter Exchange (DApp) - Solana-based ecosystem aggregator Jupiter Exchange has announced the details of the JUP community airdrop. Out of a total of 10 billion JUP tokens, 40% will be distributed to the community over four rounds of airdrops, with the first round distributing 10% (1 billion tokens). Wallets that interacted directly with Jupiter before November 2, totaling 955,000, are eligible for the airdrop. There will also be subsequent airdrops targeting new users.
13.DApp Ecosystem - Arbitrum 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).
14.DApp Ecosystem - Base Chain
FrenPet (DApp) - Fren Pet is a digital pet-themed web game built on the Base chain. Coinbase Wallet has highlighted this game specifically, drawing considerable attention to it. All items in the game are traded with $FP according to a linear bonding curve.
15.DApp Ecosystem - GameFi Sector Across All Chains
Sweat Economy (DApp) - Sweat Economy is a 'Move-to-Earn' application and fitness ecosystem based on Web3 technology. It is an expansion of the existing Sweatcoin platform, designed to reward users for maintaining their health with digital tokens.
16.Gas Fee Consumption - ETH Chain
Blast (DApp) - The Layer 2 network Blast, launched by Blur's founder Pacman, currently holds a total asset value of over US$100 million in its contract address. Of this, assets worth US$80.666 million in ETH have been deposited into the Lido protocol, and a balance of US$16.849 million has been deposited into the Maker protocol, with approximately US$2.86 million held in wallets.
17.Gas Fee Consumption - BSC
BUSD (Token) - Following Paxos's cessation of BUSD issuance, Binance has continuously delisted a large number of BUSD trading pairs over the past six months. The crypto-friendly travel booking platform Travala.com also announced that it will stop supporting BUSD from January 1, 2024. As of last month, the market cap of BUSD has fallen to approximately 2 billion US dollars, a drop of over 90% from its historical high.
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
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. Yesterday, it completed its TGE, and the VRTX token was initially listed on Bitget, Bybit, and KuCoin exchanges.
20.Gas Fee Consumption - Base Chain
Fren Pet (DApp) - Fren Pet is currently the most interacted DApp on the Base chain, with its contract holding 127.6 ETH. With a notably active player base, it is advisable to continue monitoring this DApp closely.
21.Top Trending Tokens on Twitter
BNB (Token) - The U.S. Department of the Treasury announced a settlement with Binance, which includes a fine of US$4.3 billion to be paid by Binance. Changpeng Zhao tweeted that he had stepped down as CEO of Binance, and Richard Teng, former regional markets head of Binance, will take over as CEO. BNB has fallen 9% in the past 24 hours.
22.Google Trends - Global
Kraken - On November 21, the U.S. Securities and Exchange Commission (SEC) accused Kraken of improperly mixing client funds and operating an unregistered platform. The SEC reiterated in the Kraken lawsuit that 11 tokens, including SOL and ADA, are classified as "securities."
Binance and CZ - 1. In its settlement announcement with Binance, the U.S. Treasury Department stated that, in addition to a US$3.4 billion civil fine by the Financial Crimes Enforcement Network (FinCEN), Binance will also be under five years of regulation and is required to make significant compliance commitments, including ensuring Binance completely exits the United States. Besides imposing a US$968 million fine on Binance, the OFAC settlement agreement requires Binance to adhere to a series of strict sanction compliance obligations, including full cooperation with regulatory agencies overseen by FinCEN; 2. Changpeng Zhao tweeted that he had stepped down as CEO of Binance, and Richard Teng, former regional markets head of Binance, will take over as CEO.
BLUR (Token) - Blur has opened the Season 2 airdrop claim, with a total of 307 million BLUR tokens, and initiated a six-month-long Season 3 airdrop. The new L2 network Blast, launched by Blur's founder Pacman, reached a TVL of US$81.265 million and a user count of 23,368 on its first day.
23.Google Trends Surge - East Asia, South Asia, Southeast Asia, Hong Kong, Macau, and Taiwan
a) South Asia Region
India Trends: DOT, MATIC, DENT, AVAX
Pakistan Trends: BTC, GALA
b) Southeast Asia Region
Malaysia Trends: AVAX, SOL
Philippines Trends: PI, AVAX, CRO, ETH
Singapore Trends: SOL, AVAX, CRO
Indonesia Trends: TRX, DOGE
c) East Asia and Hong Kong, Macau, and Taiwan
No particularly trending keywords
24.Google Trends Surge - English-speaking Countries, Europe, CIS Region
a) CIS Region
Trends: ARKM, airdrop crypto
b) English-speaking Countries
Australia Trends: RUNE, QNT, OX, QI, AVAX, ZRX
UK Trends:
GROK, BNT, DYDX, ANKR, LTC, METIS, NEO, SUI
USA Trends: JOE, GROK, CTX, AVAX, ROSE
Canada Trends: KAS
c) Europe
France Trends: BNT, SAND, KP3R, OP, NXRA, OXO
Poland Trends: GROK, TRX, FTM
Switzerland Trends: AVAX, MATIC, TIA, ZRX, LINK
Turkey Trends: rsi heatmap crypto, crypto royale, crypto kemal, crypto bubbles
Germany Trends: KSM, ZRX, HELLO
Italy Trends: BTT, CFG, DOGE, ATOM, BNT, TAO
Spain Trends: DASH, XRP, FTM, GQ, ARB, ADA, SOL
25.Google Trends Surge - Middle East, Latin America, Africa
a) Africa
South Africa Trends: SOL, XRP, AVAX, ADA
Nigeria Trends: XRP
b) Middle East
UAE Trends: SOL
c) Latin America
Brazil Trends: MATIC, OOKI
Argentina Trends: TRB, CAKE, GAS, AVAX
Mexico Trends: LINK, AVAX
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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