Bitget Research: Solana Ecosystem Token Surges, LayerZero to Launch its Token in the First Half of Next Year

the past 24 hours, there have been many new popular tokens and topics emerging in the 59a0e6e2-7963-4326-9deb-6d8475b43349, and perhaps they could be the next market spotlight.

In Summary:

1. Popular Tokens:

Jito (Token) - Jito, a liquidity staking protocol in the Solana ecosystem, has launched its governance token, JTO. Of the JTO airdrop to the community (10% of the total supply), 15% is allocated to Jito-Solana validators, 5% to Jito MEV searchers, and 80% is designated for JitoSOL users with at least 100 points. Core contributors are not eligible for the JTO airdrop, meaning community users benefit the most. JTO was listed on multiple exchanges after the airdrop and now has reached a trading volume of US$900 million and a market cap of US$320 million.

SOL (Token) - TVL of the Solana network rose to US$772 million, and several protocols in the Solana ecosystem also saw significant growth in TVL. Tokens in the ecosystem generally increased, with the newly launched JTO surging nearly 90% in a day, and SOL rising 19% in 24 hours. A series of airdrops from core projects in the ecosystem (such as PYTH, JTO, and JUP) rejuvenated the Solana ecosystem and boosted market popularity.

ETH (Token): timbeiko.eth, a core Ethereum developer, summarized the 176th ACDE meeting in a social media post, saying that the plan was to activate Dencun next January and the Goerli fork date was expected to be set early next year. And on the news, the ETH/BTC exchange rate rallied strongly, pulling up 8%, a change from the past weak rise.

LINK (Token) - Oracle project Chainlink announced that the Chainlink Staking v0.2 community pool has been filled in just seven hours after the launch of Early Access with over 19,000,000 LINK staked. Community users (those migrated from v0.1 and new users) have staked a total of 40,875,000 LINK to secure and validate the Chainlink network. Chainlink previously disclosed that Staking v0.2 will feature an expanded total pool size of 45,000,000 LINK, which accounts for 8% of the current circulating supply of LINK.

MUBI (Token) - MUBI serves as the native protocol token for Multibit, a cross-chain bridge project facilitating BRC20-ERC20 interoperability. As the BRC20 ecosystem continues to thrive, the excitement surrounding it has expanded to the Ethereum network. Multibit enables users to seamlessly transfer BRC20 tokens from the Bitcoin network to the Ethereum network, enabling them to access the corresponding DeFi ecosystem. This distinctive feature has attracted significant market attention and speculative interest.

BSSB (Token) - On November 29, Bitstable, a Bitcoin-based cross-chain DeFi protocol, announced that an unauthorized party had acquired most of the available supply during the Bitstable public sale on Bounce Finance. Bitstable will destroy 75% of the BSSB tokens involved in the fixed swap auction.

HOOK (Token): Web3 social network Hooked Protocol announced a partnership with Google Cloud on X. As part of Google AI Web3 Startup Program, Hooked will integrate Google Cloud’s cutting-edge AI solution to boost the AI-driven Hooked social learning metaverse.

2. Popular NFTs:

Pudgy Penguins (NFT) - Rumors on social media about an upcoming token launch of Pudgy Penguins drove its floor price to shoot up. Later, Beau, the community security head, stated that there would be no token for the project in the short term.

Sentry Node License (NFT) - An XAI-related NFT. XAI is a game-focused Arbitrum layer 3 blockchain, and XAI Sentry Node License is a SoulBound NFT that allows holders to run validator nodes to secure the blockchain in exchange for rewards in esXAI tokens.

3. Popular DApps:

LayerZero (Dapp): LayerZero Labs said in an X post that LayerZero has always been built with the ability to have a native token within the protocol. They have heard the community discussion over the last few months and now state in no uncertain terms that there will be a LayerZero token expected to happen within the first half of 2024.

xPet (DApp) - A SocialFi project on the Arbitrum chain, with gameplay similar to Fren Pet, requiring players to feed, accompany, and ensure the survival of their pets, thereby helping them earn token rewards. Unlike Fren Pet's "main screen" gameplay, xPET operates through a browser plugin, enabling greater interaction possibilities with Twitter.

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.

4. Twitter Hot Topics:

SOL (Token) - TVL of the Solana network rose to US$772 million, and several protocols in the Solana ecosystem also saw significant growth in TVL. Tokens in the ecosystem generally increased, with the newly launched JTO surging nearly 90% in a day, and SOL rising 19% in 24 hours. A series of airdrops from core projects in the ecosystem (such as PYTH, JTO, and JUP) rejuvenated the Solana ecosystem and boosted market popularity.

ETH (Token): timbeiko.eth, a core Ethereum developer, summarized the 176th ACDE meeting in a social media post, saying that the plan was to activate Dencun next January and the Goerli fork date was expected to be set early next year. And on the news, the ETH/BTC exchange rate rallied strongly, pulling up 8%, a change from the past weak rise.

5. Regional Trending Searches:

Jito (Token) - Jito, a liquidity staking protocol in the Solana ecosystem, has launched its governance token, JTO. Of the JTO airdrop to the community (10% of the total supply), 15% is allocated to Jito-Solana validators, 5% to Jito MEV searchers, and 80% is designated for JitoSOL users with at least 100 points. Core contributors are not eligible for the JTO airdrop, meaning community users benefit the most. JTO was listed on multiple exchanges after the airdrop and now has reached a trading volume of US$900 million and a market cap of US$320 million.

Main Body:

Written by: Bitget Research

Data collection time: December 8, 10:30 AM

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

ORDI (Token) - ORDI has experienced significant fluctuations amidst controversy. The main reason stems from Luke, a Bitcoin Core developer, publicly stating on social media that Bitcoin Inscriptions are exploiting a vulnerability in the Bitcoin Core client to spam the blockchain. If the vulnerability is fixed, it would mean that Ordinals and BRC-20 would no longer exist. The community expressed significant opposition and criticism towards this statement, prompting Luke to back down and acknowledge that it may not be necessary to eradicate all inscriptions to provide value to Bitcoin.

2. Blockchain Profile - ETH Chain

2.1 User Profile

2.1.1 Core Data

Total active users on ETH: 447,842

New active users on ETH: 86,152, with a daily increase of 1.47%

Existing active users on ETH: 361,690, with a daily increase of 6.18%

2.1.2 New User Profile

Core data: There were a total of 86,152 new active users on ETH yesterday, with a daily increase of 1.47%

Popular Sectors

Popular Projects

LINK (Token) - Oracle project Chainlink announced that the Chainlink Staking v0.2 community pool has been filled in just seven hours after the launch of Early Access with over 19,000,000 LINK staked. Community users (those migrated from v0.1 and new users) have staked a total of 40,875,000 LINK to secure and validate the Chainlink network. Chainlink previously disclosed that Staking v0.2 will feature an expanded total pool size of 45,000,000 LINK, which accounts for 8% of the current circulating supply of LINK.

2.1.3 Existing User Profile

Core data: The number of ETH active existing users is 361,690, with a daily increase of 6.18%

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. 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

GEMINI (Token) - A memecoin with the same name as Google's newly released large language model Gemini, has witnessed a short surge after TGE, followed by a single-day plunge of more than 70%. Its last 24h trading volume was US$4.03 million with a current liquidity pool size of US$87,950.

2.2.2 Uniswap V3

MUBI (Token) - MUBI serves as the native protocol token for Multibit, a cross-chain bridge project facilitating BRC20-ERC20 interoperability. As the BRC20 ecosystem continues to thrive, the excitement surrounding it has expanded to the Ethereum network. Multibit enables users to seamlessly transfer BRC20 tokens from the Bitcoin network to the Ethereum network, enabling them to access the corresponding DeFi ecosystem. This distinctive feature has attracted significant market attention and speculative interest.

BSSB (Token) - On November 29, Bitstable, a Bitcoin-based cross-chain DeFi protocol, announced that an unauthorized party had acquired most of the available supply during the Bitstable public sale on Bounce Finance. Bitstable will destroy 75% of the BSSB tokens involved in the fixed swap auction.

2.3 Popular NFTs

2.3.1 Top NFT Collections

Pudgy Penguins (NFT) - Rumors on social media about an upcoming token launch of Pudgy Penguins drove its floor price to shoot up. Later, Beau, the community security head, stated that there would be no token for the project in the short term.

3. Blockchain Profile - BSC

3.1 User Profile

3.1.1 Core Data

Total active users on BSC: 1,006,307

New active users on BSC: 167,206, with a daily increase of 8.62%

Existing active users on BSC: 839,101, with a daily decrease of 5.31%

3.1.2 New User Profile

Core data: There were a total of 167,206 new active users on BSC yesterday, with a daily increase of 8.62%

Popular Sectors

Popular Projects

Inscription BSC (DApp) - The frenzy surrounding inscriptions has expanded to the BSC chain, which has given birth to a large number of relevant hashtags such as BNBS and BSCI on social media.

3.1.3 Existing User Profile

Core data: The number of BSC active existing users is 839,101, with a daily decrease of 5.31%

Popular Sectors

Popular Projects

HOOK (Token): Web3 social network Hooked Protocol announced a partnership with Google Cloud on X. As part of Google AI Web3 Startup Program, Hooked will integrate Google Cloud’s cutting-edge AI solution to boost the AI-driven Hooked social learning metaverse.

3.2 Popular Trading Pairs

3.2.1 PancakeSwap V2

There are no new significant trading pairs on BSC.

4. Blockchain Profile - Polygon Chain

4.1 User Profile

4.1.1 Core Data

Total active users on Polygon: 425,072

New active users on Polygon: 75,480, with a daily increase of 1.28%

Existing active users on Polygon: 349,592, with a daily increase of 0.01%

4.1.2 New User Profile

Core data: There were a total of 75,480 new active users on Polygon yesterday, with a daily increase of 1.28%

Popular Sectors

Popular Projects

Inscription Polygon (DApp) - The Inscriptions sector is heating up, with over 900 different Inscriptions being created on the Polygon network. Transactions of Inscriptions account for 28% of the total on-chain transactions, dominating the gas consumption ranking.

4.1.3 Existing User Profile

Core Data: The number of Polygon active existing users is 349,592, with a daily increase of 0.01%

Popular Sectors

Popular 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.

4.2 Popular Trading Pairs

4.2.1 Uniswap V3

There are no new significant trading pairs on Polygon.

5. Blockchain Profile - Arbitrum Chain

5.1 User Profile

5.1.1 Core Data

Total Active Users on Arbitrum: 146,516

New Active Users on Arbitrum: 28,367, with a daily increase of 20.61%

Existing Active Users on Arbitrum: 118,149, with a daily increase of 9.23%

5.1.2 New User Profile

Core data: There were a total of 28,367 new active users on Arbitrum yesterday, with a daily increase of 20.61%

Popular Sectors

Popular Projects

Sentry Node License (NFT) - An XAI-related NFT. XAI is a game-focused Arbitrum layer 3 blockchain, and XAI Sentry Node License is a SoulBound NFT that allows holders to run validator nodes to secure the blockchain in exchange for rewards in esXAI tokens.

xPet (DApp) - A SocialFi project on the Arbitrum chain, with gameplay similar to Fren Pet, requiring players to feed, accompany, and ensure the survival of their pets, thereby helping them earn token rewards. Unlike Fren Pet's "main screen" gameplay, xPET operates through a browser plugin, enabling greater interaction possibilities with Twitter.

5.1.3 Existing User Profile

Core data: The number of Arbitrum active existing users is 118,149, with a daily increase of 9.23%

Popular Sectors

Popular Projects

LayerZero (Dapp): LayerZero Labs said in an X post that LayerZero has always been built with the ability to have a native token within the protocol. They have heard the community discussion over the last few months and now state in no uncertain terms that there will be a LayerZero token expected to happen within the first half of 2024.

5.2 Popular Trading Pairs

5.2.1 Uniswap V3

There are no new significant trading pairs on Arbitrum.

6. Blockchain Profile - Base Chain

6.1 User Profile

6.1.1 Core Data

Total Active Users on Base: 55,711

New Active Users on Base: 10,323, with a daily increase of 40.09%

Existing Active Users on Base: 45,388, with a daily increase of 11.76%

6.1.2 New User Profile

Core data: There were a total of 10,323 new active users on Base yesterday, with a daily decrease of 40.09%

Popular Sectors

Popular Projects

Friend.Tech (DApp) - According to DefiLlama, the TVL of Friend.tech currently stands at US$38.2 million, marking a notable decline from its historical high of US$52.04 million on October 2 and a slight recovery from its historical low of US$28 million. The X account @0xRacerAlt of Friend.tech's founder Racer is no longer accessible.

6.1.3 Existing User Profile

Core data: The number of Base active existing users is 45,388, with a daily increase of 11.76%

Popular Sectors

Popular Projects

!fundrop (NFT) - The NFT mint aggregator mint.fun has announced the conclusion of the !fundrop event. Currently, !fundrop Pass holders are allowed to mint !fundrop Finale IDs on Base. The attributes of these IDs are generated based on points, streaks, and level achievements.

7. DApp Ecosystem - All Chains

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.

8. DApp Ecosystem - ETH Chain

Blast (DApp) - As of today, the Layer 2 network Blast, launched by Blur's founder Pacman, holds a total asset value of US$809 million in its contract address. Of this, assets worth US$716 million in ETH have been deposited into the Lido protocol, and US$93.13 million has been deposited into the Maker protocol, with approximately US$160,000 held in wallets.

9. DApp Ecosystem - BSC

Hooked is briefed above.

10. DApp Ecosystem - Polygon Chain

BoomLand (Dapp) - According to the introduction on DappRadar, BoomLand is a blockchain game developer and publisher driving mass adoption of Web3 games by targeting and engaging traditional Web2 players. The studio is led by mobile gaming veterans and has published over 200 games with unique active wallets of more than 15,000 in the last 30 days.

11. DApp Ecosystem - WAX Chain

DApps on the WAX chain experience no special fluctuations in UAW.

12. DApp Ecosystem - Solana Chain

Jito (Dapp) - Jito, a borrowing and lending protocol built on the Solana blockchain, launched its governance token, JTO, with 10% of the tokens used for airdrops, 15% of which were allocated to Jito-Solana validators, 5% to Jito MEV searchers, and 80% to JitoSOL users holding more than 100 points. In this airdrop, none of the core contributors were rewarded, meaning that community users benefited the most. JTO is listed on multiple exchanges after the airdrop and now has $900 million in trading volume and a market cap of $320 million.

13. DApp Ecosystem - Arbitrum Chain

Rhino (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.

14. DApp Ecosystem - Base Chain

Dmail, Stargate, FT, etc. have all been briefed above.

15. DApp Ecosystem - GameFi Sector Across All Chains

There are no particular changes in the GameFi DApps with leading DUA.

16. Gas Fee Consumption - ETH Chain

Arbitrum (DApp) - According to L2BEAT data, the TVL of the Arbitrum One network has reached US$8.53 billion, with a 9.9% growth over the past 7 days. timbeiko.eth, a core Ethereum developer, summarized the 176th ACDE meeting in a social media post, saying that the plan was to activate Dencun in next January and the Goerli fork date was expected to be set early next year. And on the news, the L2 sector rose in general, with ARB up 15%.

17. Gas Fee Consumption - BSC

PancakeSwap (DApp) - PancakeSwap is a decentralized exchange based on the BSC. Recently, it has significantly increased its trading volume and doubled its market share with the launch of its V3 version. PancakeSwap V3 brings numerous improvements, including increased capital efficiency, reduced trader fees, enhanced rewards for liquidity providers, and an improved user experience. It has also ventured into blockchain gaming, introduced fiat channels, and expanded its Yield Farming. Recently, PancakeSwap announced that it had destroyed 8,808,741 CAKE, valued at approximately US$21 million.

18. Gas Fee Consumption - Polygon Chain

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.

19. Gas Fee Consumption - Arbitrum Chain

Vertex (DApp) - Vertex is a decentralized exchange (DEX) protocol based on Arbitrum, offering cross-margin trading services. It is an integrated application for spot, perpetual futures and money markets and is currently the most active derivatives platform on Arbitrum, with US$647 million in 24h trading volume and US$20.5 million of 24h positions.

Layer Zero (Dapp) - LayerZero Labs stated that it will have a native LayerZero token in response to community discussions over the past few months. The team will work to get the distribution of the tokens right and expects to do so within H1 2024.

20. Gas Fee Consumption - Base Chain

Aerodrome (DApp) - Aerodrome is an emerging automated market maker (AMM) protocol aimed to become the central liquidity hub for Coinbase's Layer 2 chain, Base. Aerodrome's design is inspired by the Velodrome V2 model to incentivize liquidity on the protocol. Despite past collaborations, Aerodrome operates independently of Velodrome. AERO, Aerodrome's utility and governance token, allows holders to lock their tokens and receive veAERO NFTs and voting power based on the lock-up period. Aerodrome's TVL is up 40% over the past month to $70 million, benefiting from market conditions and the top protocols on Base L2 chain.

21. Twitter Trends Token Top Rank

SOL (Token) - Solana network TVL rose to US$772 million, with several protocols in the ecosystem saw significant growth in TVL, and tokens saw a general uptrend, including the newly launched JTO, which surged nearly 90% in a day, and SOL, which rose 19% in the past 24 hours. A series of airdrops from core projects in the ecosystem (such as PYTH, JTO, and JUP) rejuvenated the Solana ecosystem and boosted market popularity.

ETH (Token) - timbeiko.eth, a core Ethereum developer, summarized the 176th ACDE meeting in a social media post, saying that the plan was to activate Dencun next January and the Goerli fork date was expected to be set early next year. And on the news, the ETH/BTC exchange rate rallied strongly, pulling up 8%, a change from the past weak rise.

22. Google Trends - Global

Jito (Token): Jito, a liquidity staking protocol in the Solana ecosystem, has launched its governance token, JTO. Of the JTO airdrop to the community (10% of the total supply), 15% is allocated to Jito-Solana validators, 5% to Jito MEV searchers, and 80% is designated for JitoSOL users with at least 100 points. Core contributors are not eligible for the JTO airdrop, meaning community users benefit the most. JTO was listed on multiple exchanges after the airdrop and now has reached a trading volume of US$900 million and a market cap of US$320 million.

23. Google Trends Surge - East Asia, South Asia, Southeast Asia, Hong Kong, Macau, and Taiwan

a) South Asia Region

India trends: JTO, AMP, BONE

Pakistan trends: JTP, ETH

b) Southeast Asia Region

Malaysia trends: Crypto Bubble, fear and greed index, Coinmarket cap

Philippines trends: RON, SLP, GRT, AXS

Thailand trends: Faucet

Singapore trends: BONK, CAKE, AVAX, GEMINI

Indonesia trends: GALA, BTC, POOCOIN, BEAM

c) East Asia and Hong Kong, Macau, and Taiwan trends: News

24. Google Trends Surge - English-speaking Countries, Europe, CIS Region

a) CIS regions trends: Crypto Bubbles, CoinMarketCap

b) English-speaking Countries

Australia trends: AMP, BONK, BRISE, ARB, KAS, METIS, WTK

UK trends: LUNA, KAVA, OSMOSIS

USA trends: JTO, AMP, MONAD, SNEK

Canada trends: JEWEL, HNT, BTT, EOS, HEX, VRA, Seedify

c) Europe

France trends: ROSE, UCO, GUAC, AMP, HNT, JTO

Poland trends: AMP, SHIB, ICP, BONK, EOS, ETH

Switzerland trends: BTC, BONK, ETH, EOS

Turkey trends: FIRE, BTC, JTP

Germany trends: AMP, JASMY, SEI, GROK, BONK

Italy trends: CFG, USTC, JTO, AMP, BONE

25. Google Trends Surge - Middle East, Latin America, Africa

a) Africa

South Africa trends: PEPE, AVAX, BTC, LUNO, DOGE, TRON

Nigeria trends: crypto bubbles

b) Middle East Trends: Coinmarketcap, Crypto Bubbles, News

c) Latin America

Brazil trends: SHIB, XEN, AMP, ROSE, BTC, BEAM, DOT

Argentina trends: SHIB, BNB, AMP, BONK, CAKE

Mexico trends: SHIB, BITSO, KAS

Reference Links

1. Dune On-Chain Data Dashboard - Blockchain Profile: https://dune.com/bitgetresearch/bitgetreseach-chains-overview

2. Dune On-Chain Data Dashboard - Gas Consumption: https://dune.com/bitgetresearch/gas-overview