Bitget Research: Bitcoin Price Gradually Stabilizes, Blast Testnet Officially Goes Live

In the past 24 hours, many new popular tokens and topics have emerged in the market, and perhaps they will be the next focus of the market.

In Summary:

1.Popular Tokens:

ligo (Token) - A Bitcoin Layer 2 scaling project that recently completed its minting phase. The BRC-20 token LIGO has shown decent performance in the secondary market. The future trend of the token will depend on the progress of the project's development.

Tether (Token) - According to data from The Block, Tether, the issuer of USDT, increased its share in the global stablecoin supply from 50% to 71% in 2023.

ZUZALU (Token) - A memecoin capitalizing on a tweet from Vitalik Buterin. After its TGE in March, it briefly surged and then fell, followed by a period of inactivity. Two days ago, it experienced a sudden 40x increase in value within 24 hours and after a day's pullback surged again to a new high, mirroring TROLL's price movements. It has a 24-hour DEX trading volume of $27 million, with 9655 transactions during the same period.

TROLL (Token) - TROLL was created in April 2023. The market hype around this memecoin began when Elon Musk changed his bio to "Chief Troll Officer." Since then, the token's price has seen a substantial increase. The 24-hour on-chain trading volume reached $24 million, doubling from last week's daily volume of $12 million. The number of transactions reached 7647, and the count of on-chain token holders rose from 2000 to 8706.

LINK (Token) - Recently, there has been significant on-chain activity among LINK whales. A whale address starting with 0x54f withdrew 218,049 LINK tokens (approximately $3.23 million) from Coinbase. Additionally, there is a whale address that sold LINK at a loss to repay debts on Aave. It is reported that this whale address purchased 237,054 LINK tokens (approximately $3.55 million) between November 10 and December 2 at $14.96 each, and then sold 165,083 LINK tokens (approximately $2.33 million) in the past 4 hours at $14.15 each. The address still holds 71,979 LINK tokens (approximately $1.02 million), resulting in a total loss of approximately $190,000.

Pendle (Token) - Recently, Pendle added LRT asset components, enabling users to gain more benefits related to LRT. The product's continuous iteration has received positive feedback from the community. Pendle's price has reached a new all-time high, with its product capabilities and rapid development also being recognized by speculative capital.

2.Popular NFTs:

Gas Hero (NFT) - Gas Hero, developed by the former StepN team, is a Web3 social and strategy game. Unlike traditional games, Gas Hero places a strong emphasis on game theory, offering players richer strategies and utilizing decentralized trading platforms to maximize the transparency of on-chain data. The game has just launched, and the in-game NFT trading is quite active.

3.Popular DApps:

Maverick Protocol (DApp) - Binance Wallet recently announced airdrop incentives for wallets providing liquidity on Maverick Protocol, leading to widespread participation among on-chain players.

QnA3.AI (DApp) - A Web3 knowledge-sharing platform based on AI, QnA3.AI has garnered widespread attention on the BNB Chain. The project has initiated a data mining mode, where users can join and use idle computing resources on their devices for tasks like data cleaning and scraping. Contributors of computing power are rewarded with points.

Smart Cats (NFT) - An NFT project launched by Smart Layer, which has very high on-chain popularity. Users can interact with Smart Cats NFTs by feeding, cleaning, and other activities. The NFTs have a very high level of interaction.

Turnup (DApp) - Turnup, a Web3 social gaming ecosystem, has seen continuous growth in on-chain transaction data, ranking high on the Polygon DApps daily active users chart. The project team promised in a tweet that once they rank first on the daily active users chart, they will host an AMA with Polygon founder Sandeep Nailwal.

Odos Router (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.

Gains Network (DApp) - An on-chain derivatives protocol. The platform's gDAI collateral reserves have reached $5 million, indicating an increase of approximately 25% in nearly half a month and achieving a new high for the year.

Blur (DApp) - The Blast testnet has officially launched, driving up the value of the BLUR token. According to blockchain analyst Yu Jin's monitoring, 49.46 million BLUR tokens (worth $32.29 million) were unlocked and transferred to the 0x0A0 multi-signature address half an hour ago, and then from there to Coinbase Prime. A significant number of tokens are set to be unlocked this month, which is expected to boost the price.

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. Animoca Brands has announced plans to purchase additional EDU tokens from the open market. Binance Labs invested $3.15 million in the Web3 education protocol Open Campus, bringing significant traffic to the Web3 education sector.

WooFi (DApp) - Launched by the cryptocurrency exchange WOO as a DeFi project, it recently gained positive attention in a short period due to its plans to buy back the shares and tokens previously acquired by the hedge fund Three Arrows Capital. This move is aimed at "eliminating uncertainties."

Magic Eden (DApp) - Magic Eden is recognized for its user-friendly interface, rapid processing times, robust security, and 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.

Aerodrome Finance (DApp) - Aerodrome is an emerging automated market maker (AMM) protocol aimed to become the central liquidity hub for Coinbase's Layer 2 chain, Base. The 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.

4.Twitter Hot Topics:

No data for this segment today due to anomalies in the data source.

5.Regional Trending Searches:

CHZ (Token) - The fan token sector has seen unusual activity, with tokens such as ARG and SANTOS surging in value. CHZ, as a fan token issuance and trading platform and a leader in this sector, experienced a 20% increase in a single day, possibly due to speculative activities before the European Cup.

MANTA (Token) - Manta Network announced on X that the Into the Blue airdrop will be available to claim starting on January 18. Previously, on January 5, Manta Network launched the Into the Blue airdrop program, which currently allows users to check their eligibility based on their contributions to the ecosystem over the past three years. The Into the Blue airdrop will distribute 50 million MANTA tokens, representing 5% of the total supply.

Main Body

Written by: Bitget Research

Data collection time: January 17, 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

ligo (Token) - A Bitcoin Layer 2 scaling project that recently completed its minting phase. The BRC-20 token LIGO has shown decent performance in the secondary market. The future trend of the token will depend on the progress of the project's development.

2.Blockchain Profile - ETH Chain

2.1 User Profile

2.1.1 Core Data

Total active users on ETH: 411,396

New active users on ETH: 91,679, with a daily decrease of 3.19%

Existing active users on ETH: 319,717, with a daily decrease of 4.33%

2.1.2 New User Profile

Core data: There were a total of 91,679 new active users on ETH yesterday, with a daily decrease of 3.19%

Popular Sectors

Popular Projects

Key Projects:

Tether (Token) - According to data from The Block, Tether, the issuer of USDT, increased its share in the global stablecoin supply from 50% to 71% in 2023. The company recently surpassed 95 billion stablecoins in circulation, a figure higher than the GDP of countries like Guatemala and Bulgaria.

2.1.3 Existing User Profile

Core data: The number of ETH active existing users is 319,717, with a daily decrease of 4.33%

Popular Sectors

Popular Projects

Key Projects:

Memecoin (Token) - Recently, it launched a farming reward certification promotion, requiring users to hold at least 69 $MEME tokens in their wallets to pass the human verification test. This has resulted in numerous on-chain transfers, showing a strong community interest in claiming farming rewards.

2.2 Popular Trading Pairs

2.2.1 Uniswap V2

ZUZALU (Token) - A memecoin capitalizing on a tweet from Vitalik Buterin. After its TGE in March, it briefly surged and then fell, followed by a period of inactivity. Two days ago, it experienced a sudden 40x increase in value within 24 hours and after a day's pullback surged again to a new high, mirroring TROLL's price movements. It has a 24-hour DEX trading volume of $27 million, with 9655 transactions during the same period.

2.2.2 Uniswap V3

TROLL (Token) - TROLL was created in April 2023. The market hype around this memecoin began when Elon Musk changed his bio to "Chief Troll Officer." Since then, the token's price has seen a substantial increase. The 24-hour on-chain trading volume reached $24 million, doubling from last week's daily volume of $12 million. The number of transactions reached 7647, and the count of on-chain token holders rose from 2000 to 8706.

2.3 Popular NFTs

2.3.1 Top NFT Collections

Gas Hero (NFT) - Gas Hero, developed by the former StepN team, is a Web3 social and strategy game. Unlike traditional games, Gas Hero places a strong emphasis on game theory, offering players richer strategies and utilizing decentralized trading platforms to maximize the transparency of on-chain data. The game has just launched, and the in-game NFT trading is quite active.

3.Blockchain Profile - BSC

3.1 User Profile

3.1.1 Core Data

Total active users on BSC: 1,328,201

New active users on BSC: 192,145, with a daily decrease of 0.87%

Existing active users on BSC: 1,136,056, with a daily decrease of 1.15%

3.1.2 New User Profile

Core data: There were a total of 192,145 new active users on BSC yesterday, with a daily decrease of 0.87%

Popular Sectors

Popular Projects

Key Projects:

Maverick Protocol (DApp) - Binance Wallet recently announced airdrop incentives for wallets providing liquidity on Maverick Protocol, leading to widespread participation among on-chain players.

3.1.3 Existing User Profile

Core data: The number of BSC active existing users is 1,136,056, with a daily decrease of 1.15%

Popular Sectors

Popular Projects

Key Projects:

QnA3.AI (DApp) - A Web3 knowledge-sharing platform based on AI, QnA3.AI has garnered widespread attention on the BNB Chain. The project has initiated a data mining mode, where users can join and use idle computing resources on their devices for tasks like data cleaning and scraping. Contributors of computing power are rewarded with points.

3.2 Popular Trading Pairs

3.2.1 PancakeSwap V2

MANTA (Token) - Manta Chain recently announced its token plan. On BSC, fake tokens imitating its name have appeared, necessitating careful discernment to avoid deception and fraud.

4.Blockchain Profile - Polygon Chain

4.1 User Profile

4.1.1 Core Data

Total active users on Polygon: 585,176

New active users on Polygon: 112,435, with a daily decrease of 6.43%

Existing active users on Polygon: 472,741, with a daily decrease of 1.67%

4.1.2 New User Profile

Core data: There were a total of 112,435 new active users on Polygon yesterday, with a daily decrease of 6.43%

Popular Sectors

Popular Projects

Key Projects:

Smart Cats (NFT) - An NFT project launched by Smart Layer, which has very high on-chain popularity. Users can interact with Smart Cats NFTs by feeding, cleaning, and other activities. The NFTs have a very high level of interaction.

4.1.3 Existing User Profile

Core Data: The number of Polygon active existing users is 472,741, with a daily decrease of 1.67%

Popular Sectors

Popular Projects

Key Projects:

Turnup (DApp) - Turnup, a Web3 social gaming ecosystem, has seen continuous growth in on-chain transaction data, ranking high on the Polygon DApps daily active users chart. The project team promised in a tweet that once they rank first on the daily active users chart, they will host an AMA with Polygon founder Sandeep Nailwal.

4.2 Popular Trading Pairs

4.2.1 Uniswap V3

LINK (Token) - Recently, there has been significant on-chain activity among LINK whales. A whale address starting with 0x54f withdrew 218,049 LINK tokens (approximately $3.23 million) from Coinbase. Additionally, there is a whale address that sold LINK at a loss to repay debts on Aave. It is reported that this whale address purchased 237,054 LINK tokens (approximately $3.55 million) between November 10 and December 2 at $14.96 each, and then sold 165,083 LINK tokens (approximately $2.33 million) in the past 4 hours at $14.15 each. The address still holds 71,979 LINK tokens (approximately $1.02 million), resulting in a total loss of approximately $190,000.

5.Blockchain Profile - Arbitrum Chain

5.1 User Profile

5.1.1 Core Data

Total Active Users on Arbitrum: 144,974

New Active Users on Arbitrum: 27,396, with a daily decrease of 16.57%

Existing Active Users on Arbitrum: 117,578, with a daily decrease of 8.68%

5.1.2 New User Profile

Core data: There were a total of 27,396 new active users on Arbitrum yesterday, with a daily decrease of 16.57%

Popular Sectors

Popular Projects

Key Projects:

Orbiter Finance (DApp) - On January 11, the cross-chain bridge project Orbiter Finance announced on X that it will launch its native token this year to thank its loyal community. The project will gradually unveil the tokenomics and distribution plan, ensuring a fair process. The O-Points program will play a crucial role in establishing airdrop rules.

5.1.3 Existing User Profile

Core data: The number of Arbitrum active existing users is 117,578, with a daily decrease of 8.68%

Popular Sectors

Popular Projects

Key Projects:

XAI (DApp) - Users can participate in challenges related to protocol validation and assertion by creating Xai Sentry Nodes. They can earn corresponding rewards based on the Sentry's state permission ID, the number of state roots, and fully determined successor state roots.

5.2 Popular Trading Pairs

5.2.1 Uniswap V3

Pendle (Token) - Recently, Pendle added LRT asset components, enabling users to gain more benefits related to LRT. The product's continuous iteration has received positive feedback from the community. Pendle's price has reached a new all-time high, with its product capabilities and rapid development also being recognized by speculative capital.

6.Blockchain Profile - Base Chain

6.1 User Profile

6.1.1 Core Data

Total Active Users on Base: 70,703

New Active Users on Base: 11,199, with a daily increase of 5.84%

Existing Active Users on Base: 59,504, with a daily decrease of 10.98%

6.1.2 New User Profile

Core data: There were a total of 11,199 new active users on Base yesterday, with a daily increase of 5.84%

Popular Sectors

Popular Projects

Key Projects:

Odos Router (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 59,504, with a daily decrease of 10.98%

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

KAI-CHING (DApp) - A shopping platform on the NEAR blockchain, where users can pay with KAIC at hundreds of stores to enjoy discounts. Five smartphone providers have already integrated KAIKAINOW into their devices.

8.DApp Ecosystem - ETH Chain

Blur (DApp) - The Blast testnet has officially launched, driving up the value of the BLUR token. According to blockchain analyst Yu Jin's monitoring, 49.46 million BLUR tokens (worth $32.29 million) were unlocked and transferred to the 0x0A0 multi-signature address half an hour ago, and then from there to Coinbase Prime. A significant number of tokens are set to be unlocked this month, which is expected to boost the price.

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. Animoca Brands has announced plans to purchase additional EDU tokens from the open market. Binance Labs invested $3.15 million in the Web3 education protocol Open Campus, bringing significant traffic to the Web3 education sector.

10.DApp Ecosystem - Polygon Chain

Galxe (DApp) - Galxe 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.

11.DApp Ecosystem - Solana Chain

Magic Eden (DApp) - Magic Eden is recognized for its user-friendly interface, rapid processing times, robust security, and 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.

12.DApp Ecosystem - Arbitrum Chain

WooFi (DApp) - Launched by the cryptocurrency exchange WOO as a DeFi project, it recently gained positive attention in a short period due to its plans to buy back the shares and tokens previously acquired by the hedge fund Three Arrows Capital. This move is aimed at "eliminating uncertainties."

13.DApp Ecosystem - Base Chain

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.

14.DApp Ecosystem - GameFi Sector Across All Chains

Pixels (DApp) - Pixels is a blockchain-based, immersive, open-world MMO game. It leverages the power of Web3 to realize digital ownership for players and has created an engaging world where players can explore, complete tasks, and collaborate. Initially launched with core mechanics focused on farming, cooking, and questing, Pixels has gradually incorporated social features like trading, achievements, and leaderboards to foster interaction among players.

15.Gas Fee Consumption - ETH Chain

Memecoin/MemeLand was described earlier in the report.

16.Gas Fee Consumption - BSC

QnA3 was described earlier in the report.

17.Gas Fee Consumption - Polygon Chain

CoinTool (DApp) - A renowned on-chain toolbox extensively utilized on the Polygon Network. Its XEN Batch Minter feature assists users in batch-minting XEN tokens.

18.Gas Fee Consumption - Arbitrum Chain

Gains Network (DApp) - An on-chain derivatives protocol. The platform's gDAI collateral reserves have reached $5 million, indicating an increase of approximately 25% in nearly half a month and achieving a new high for the year.

19.Gas Fee Consumption - Base Chain

Aerodrome Finance (DApp) - Aerodrome is an emerging automated market maker (AMM) protocol aimed to become the central liquidity hub for Coinbase's Layer 2 chain, Base. The 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.

20.Top Trending Tokens on Twitter

No data for this segment today due to anomalies in the data source.

21.Google Trends - Global

CHZ (Token) - The fan token sector has seen unusual activity, with tokens such as ARG and SANTOS surging in value. CHZ, as a fan token issuance and trading platform and a leader in this sector, experienced a 20% increase in a single day, possibly due to speculative activities before the European Cup.

MANTA (Token) - Manta Network announced on X that the Into the Blue airdrop will be available to claim starting on January 18. Previously, on January 5, Manta Network launched the Into the Blue airdrop program, which currently allows users to check their eligibility based on their contributions to the ecosystem over the past three years. The Into the Blue airdrop will distribute 50 million MANTA tokens, representing 5% of the total supply.

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

a) South Asia Region

India Trends: PI, MYRO, OSMO, BLUR

Pakistan Trends: LTC, MANTA, ADA, ICE

b) Southeast Asia Region

Malaysia Trends: AVAX, LUNO, TRX, PI

Philippines Trends: ICE, XRP, DOGE, MAV

Singapore Trends: VELO, CRO, XRP, FIL, SEI, BONK

Indonesia Trends: TITAN

Vietnam Trends: XAI

c) East Asia

Mainland China Trends: SANTOS, TUSD

Hong Kong Trends: EOS, XAI, LTC, MANTA

Taiwan Trends: COMP

South Korea Trends: OKX, Bitget

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

a) CIS Region

Trends: MAGIC, ARKM, bungee, whitebit

b) English-speaking Countries

USA Trends: HONEY, AUCTION

Australia Trends: DOT, XRP, FLOW

Canada Trends: KAS, CHZ, ARKM, BLUR, QNT

UK Trends: LTC, PENDLE, CHZ

c) Europe

Poland Trends: ARKM, CHZ, KAS

France Trends: SANTOS, CHZ, monad, MAV

Switzerland Trends: XRP, RAY, revolut, LUNA, CRO, SHIB, BLUR, MANTA

Türkiye Trends: selcoin, uniswap, bingx, coinbase

Italy Trends: MAV, CHZ, MAV, INJ, FTT, KUJI

Spain Trends: METIS, KAS, CHZ

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

a) Africa

South Africa Trends: ICP, LUNA, ADA, SOL

Nigeria Trends: VET

b) Middle East

UAE Trends: TWT, XRP, SOL

Saudi Arabia Trends: IOTA, XRP

c) Latin America

Brazil Trends: DASH, CHZ, MUBI, AMP, MANTA

Argentina Trends: MANTA, NEXO, GALA, BONK

Mexico Trends: MANTA

Chile Trends: AI, SAND

Reference Links

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

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