Bitget Research: Bitcoin Tests Key Resistance Level at $38,500, GBTC Sees $515M Outflow Today

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:

TROLL (Token) - The memecoin TROLL, associated with Elon Musk, has experienced a significant drop, with a 24-hour decline reaching 35%. The trading volume still stands at $17 million. This situation has created substantial unrealized losses and resistance levels for the token. For TROLL to surpass previous highs, the broader market needs to warm up, or there needs to be an influx of speculative capital. Influenced by TROLL, the overall memecoin market has seen considerable declines, indicating high market risk. It is advisable to observe the market before taking action.

SAVM (Token) - SatoshiVM (SAVM) completed its IDO on Bounce Launchpad on January 19. SatoshiVM is a decentralized Bitcoin ZK Rollup Layer 2, compatible with the EVM ecosystem, using native BTC for gas. Users can bridge BTC to the Satoshi VM testnet and migrate tBTC to the Bitcoin Layer 2 through the SatoshiVM bridge. The token saw a significant increase in value following its IDO, with considerable trading activity. However, there are also rumors suggesting sell-offs by the project team.

ICE (Token) - ICE is the native token of a decentralized derivatives exchange. Since its recent listing on OKX, its price trajectory hasn't been very favorable. However, there is notable on-chain transaction activity, which users are advised to monitor.

MULTI (Token) - On January 23, MULTI saw significant on-chain transfers and a surge in price, but no official announcement has been made yet. The reason behind this remains unclear, and it is recommended to keep an eye on developments.

2.Popular NFTs:

Azuki (NFT) - The recent increase in Azuki's trading volume and price is significantly linked to its recent collaboration with anime IP. Additionally, after a period of ownership turnover within the community, the remaining members are all diamond-handed.

Mochimons (NFT) - This cat-themed NFT on the Base Chain has a total of 3333 pieces and sold out within an hour of launch. It is part of the same project as the on-chain memecoin $MOCHI. There are 941 holders, and the floor price is 0.135 ETH.

3.Popular DApps:

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, then to Coinbase Prime. A significant number of tokens are set to be unlocked this month, which is expected to boost the price.

QnA3 (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.

Anichess Orb of Power (ORB) Deposit Contract (DApp) - An international chess game project under Animoca Brands, with active user engagement on the blockchain.

Smart Cats (DApp) - An NFT project launched by Smart Layer, which has very high on-chain popularity. Users can interact with Smart Cats NFTs by feeding and cleaning them, and the level of interaction is notably high.

Woofi (DApp) - Binance Web3 wallet is launching a $100,000 WOOFi (WOO) airdrop promotion. During the promotion, users who complete specific tasks using the Binance Web3 wallet will be eligible to share the corresponding prize pool.

Rabbithole (DApp) - Rabbithole has recently aggregated all tasks offered through the Quest Protocol, enabling users to earn tokens by engaging with crypto applications. The project is experiencing high levels of interaction, which may be related to a potential token launch, making it an attractive option for engagement.

DraftKings Reignmakers (DApp) - An emerging fantasy sports game product where players use football, UFC, and PGA Tour player cards to compete for huge prizes. Another noteworthy related project is Podium, which provides analysis and data-driven tools specifically for NFT fantasy sports. It includes a new analysis tool, ReignMetrics, tailored for DraftKings' Reignmakers game.

Yuliverse (DApp) - Yuliverse has established a new investment partnership with DWF Labs. Yuliverse is a free-to-play blockchain metaverse game that combines GameFi and SocialFi elements, utilizing NFTs and the cryptocurrencies ARG and ART. It enhances social interaction and engagement and allows players to explore the real world and build connections. Yuliverse's game mechanics include elements of earning potential, providing a unique gaming experience for players.

Solend (DApp) - Solend is a decentralized lending protocol on the Solana blockchain. It has reached a total deposit amount of $89.4 million and a total loan amount of $37.6 million, making it a standout project on Solana. Solend ranked first in the DeFi category at the Solana July Hackathon and received an official sponsorship of $20,000. Notably, a recent tweet from the Solend official account stated that they have not yet launched their token, hinting at a potential future airdrop.

Camelot (DApp) - Camelot is a decentralized exchange built on Arbitrum, featuring a customizable liquidity infrastructure designed to enhance liquidity and composability in the Arbitrum ecosystem. Besides being a DEX, Camelot also includes a Launchpad to assist projects in the Arbitrum ecosystem with token sales and fundraising.

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. 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:

Arkham (DApp) - Due to the recent market focus on the outflows of Grayscale's GBTC and various whale wallet transfers, intelligence provided by the on-chain data analysis platform Arkham has gained significant market attention, with numerous media outlets citing its reports.

UMA (Token) - UMA recently launched Oval to capture "oracle extractable value" in DeFi protocols. Over the past week, UMA surged over 180%, drawing market attention. Additionally, media outlets reported that an UMA whale wallet transferred funds to Coinbase yesterday.

Main Body

Written by: Bitget Research

Data collection time: January 24, 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

The BRC-20 sector is experiencing significant differentiation. While most tokens have seen substantial pullbacks, top tokens like Sats and Rats maintain robust on-chain transaction counts and activity levels.

2.Blockchain Profile - ETH Chain

2.1 User Profile

2.1.1 Core Data

Total active users on ETH: 439,763

New active users on ETH: 82,854, with a daily decrease of 5.22%

Existing active users on ETH: 356,909, with a daily increase of 4.80%

2.1.2 New User Profile

Core data: There were a total of 82,854 new active users on ETH yesterday, with a daily decrease of 5.22%

Popular Sectors

Popular Projects

Key Projects:

Currently, there are no popular projects on the Ethereum Network. User interactions mainly involve stablecoins, and DEX and centralized exchange transfers.

2.1.3 Existing User Profile

Core data: The number of ETH active existing users is 356,909, with a daily increase of 4.80%

Popular Sectors

Popular Projects

Key Projects:

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, then to Coinbase Prime. A significant number of tokens are set to be unlocked this month, which is expected to boost the price.

2.2 Popular Trading Pairs

2.2.1 Uniswap V2

TROLL (Token) - The memecoin TROLL, associated with Elon Musk, has experienced a significant drop, with a 24-hour decline reaching 35%. The trading volume still stands at $17 million. This situation has created substantial unrealized losses and resistance levels for the token. For TROLL to surpass previous highs, the broader market needs to warm up, or there needs to be an influx of speculative capital. Influenced by TROLL, the overall memecoin market has seen considerable declines, indicating high market risk. It is advisable to observe the market before taking action.

2.2.2 Uniswap V3

SAVM (Token) - SatoshiVM (SAVM) completed its IDO on Bounce Launchpad on January 19. SatoshiVM is a decentralized Bitcoin ZK Rollup Layer 2, compatible with the EVM ecosystem, using native BTC for gas. Users can bridge BTC to the Satoshi VM testnet and migrate tBTC to the Bitcoin Layer 2 through the SatoshiVM bridge. The token saw a significant increase in value following its IDO, with considerable trading activity. However, there are also rumors suggesting sell-offs by the project team.

2.3 Popular NFTs

2.3.1 Top NFT Collections

Azuki (NFT) - The recent increase in Azuki's trading volume and price is significantly linked to its recent collaboration with anime IP. Additionally, after a period of ownership turnover within the community, the remaining members are all diamond-handed.

3.Blockchain Profile - BSC

3.1 User Profile

3.1.1 Core Data

Total active users on BSC: 1,300,988

New active users on BSC: 192,985, with a daily decrease of 8.36%

Existing active users on BSC: 1,108,003, with a daily decrease of 3.57%

3.1.2 New User Profile

Core data: There were a total of 192,985 new active users on BSC yesterday, with a daily decrease of 8.36%

Popular Sectors

Popular Projects

Key Projects:

ICE (Token) - ICE is the native token of a decentralized derivatives exchange. Since its recent listing on OKX, its price trajectory hasn't been very favorable. However, there is notable on-chain transaction activity, which users are advised to monitor.

3.1.3 Existing User Profile

Core data: The number of BSC active existing users is 1,108,003, with a daily decrease of 3.57%

Popular Sectors

Popular Projects

Key Projects:

QnA3 (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

MULTI (Token) - On January 23, MULTI saw significant on-chain transfers and a surge in price, but no official announcement has been made yet. The reason behind this remains unclear, and it is recommended to keep an eye on developments.

4.Blockchain Profile - Polygon Chain

4.1 User Profile

4.1.1 Core Data

Total active users on Polygon: 635,097

New active users on Polygon: 150,197, with a daily increase of 10.71%

Existing active users on Polygon: 484,900, with a daily increase of 1.43%

4.1.2 New User Profile

Core data: There were a total of 150,197 new active users on Polygon yesterday, with a daily increase of 10.71%

Popular Sectors

Popular Projects

Key Projects:

Anichess Orb of Power (ORB) Deposit Contract (DApp) - An international chess game project under Animoca Brands, with active user engagement on the blockchain.

4.1.3 Existing User Profile

Core Data: The number of Polygon active existing users is 484,900, with a daily increase of 1.43%

Popular Sectors

Popular Projects

Key Projects:

Smart Cats (DApp) - An NFT project launched by Smart Layer, which has very high on-chain popularity. Users can interact with Smart Cats NFTs by feeding and cleaning them, and the level of interaction is notably high.

4.2 Popular Trading Pairs

4.2.1 Uniswap V3

On the Polygon Chain, the primary transactions involve mainstream cryptocurrencies such as WBTC, ETH, MATIC, LINK, and various stablecoins.

5.Blockchain Profile - Arbitrum Chain

5.1 User Profile

5.1.1 Core Data

Total Active Users on Arbitrum: 188,194

New Active Users on Arbitrum: 27,249, with a daily decrease of 1.91%

Existing Active Users on Arbitrum: 160,945, with a daily increase of 2.40%

5.1.2 New User Profile

Core data: There were a total of 27,249 new active users on Arbitrum yesterday, with a daily decrease of 1.91%

Popular Sectors

Popular Projects

Key Projects:

Woofi (DApp) - Binance Web3 wallet is launching a $100,000 WOOFi (WOO) airdrop promotion. During the promotion, users who complete specific tasks using the Binance Web3 wallet will be eligible to share the corresponding prize pool.

5.1.3 Existing User Profile

Core data: The number of Arbitrum active existing users is 160,945, with a daily increase of 2.40%

Popular Sectors

Popular Projects

Key Projects:

Rabbithole (DApp) - Rabbithole has recently aggregated all tasks offered through the Quest Protocol, enabling users to earn tokens by engaging with crypto applications. The project is experiencing high levels of interaction, which may be related to a potential token launch, making it an attractive option for engagement.

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 recognized by speculative capital.

6.Blockchain Profile - Base Chain

6.1 User Profile

6.1.1 Core Data

Total Active Users on Base: 75,642

New Active Users on Base: 10,965, with a daily increase of 15.64%

Existing Active Users on Base: 64,677, with a daily increase of 5.19%

6.1.2 New User Profile

Core data: There were a total of 10,965 new active users on Base yesterday, with a daily increase of 15.64%

Popular Sectors

Popular Projects

Key Projects:

OdosRouterV2 (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. The project has not yet launched its token, offering an opportunity to interact early for a potential airdrop.

6.1.3 Existing User Profile

Core data: The number of Base active existing users is 64,677, with a daily increase of 5.19%

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

Blast (DApp) - Developed by Pacman, the founder of Blur, the Layer 2 network Blast has announced the official launch of its testnet. Additionally, Blast has introduced the "Blast BIG BANG" promotion for developers. The winning DApp will be promoted to Blast users after the mainnet launch at the end of February, and 50% of the airdrop will be allocated to developers.

9.DApp Ecosystem - BSC

NFPrompt (DApp) - NFPrompt (NFP) is an AI-driven platform for user-generated content, focusing on Web3 creators. It is one of the projects incubated in the sixth season of Binance Labs and was launched in June this year. The platform enables users to generate various types of content using AI tools (AI-generated content, AIGC). It also provides a marketplace for trading AIGC works and their associated command words (Prompt).

10.DApp Ecosystem - Polygon Chain

Yuliverse (DApp) - Yuliverse has established a new investment partnership with DWF Labs. Yuliverse is a free-to-play blockchain metaverse game that combines GameFi and SocialFi elements, utilizing NFTs and the cryptocurrencies ARG and ART. It enhances social interaction and engagement and allows players to explore the real world and build connections. Yuliverse's game mechanics include elements of earning potential, providing a unique gaming experience for players.

11.DApp Ecosystem - Solana Chain

Solend (DApp) - Solend is a decentralized lending protocol on the Solana blockchain. It has reached a total deposit amount of $89.4 million and a total loan amount of $37.6 million, making it a standout project on Solana. Solend ranked first in the DeFi category at the Solana July Hackathon and received an official sponsorship of $20,000. Notably, a recent tweet from the Solend official account stated that they have not yet launched their token, hinting at a potential future airdrop.

12.DApp Ecosystem - Arbitrum Chain

Camelot (DApp) - Camelot is a decentralized exchange built on Arbitrum, featuring a customizable liquidity infrastructure designed to enhance liquidity and composability in the Arbitrum ecosystem. Besides being a DEX, Camelot also includes a Launchpad to assist projects in the Arbitrum ecosystem with token sales and fundraising.

13.DApp Ecosystem - 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. 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.

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

No new popular projects have emerged on the ETH Chain.

16.Gas Fee Consumption - BSC

QnA3 was described earlier in the report.

17.Gas Fee Consumption - Polygon Chain

DraftKings Reignmakers (DApp) - An emerging fantasy sports game product where players use football, UFC, and PGA Tour player cards to compete for huge prizes. Another noteworthy related project is Podium, which provides analysis and data-driven tools specifically for NFT fantasy sports. It includes a new analysis tool, ReignMetrics, tailored for DraftKings' Reignmakers game.

18.Gas Fee Consumption - Arbitrum Chain

RabbitHole was described earlier in the report.

19.Gas Fee Consumption - Base Chain

Mochimons (NFT) - This cat-themed NFT on the Base Chain has a total of 3333 pieces and sold out within an hour of launch. It is part of the same project as the on-chain memecoin $MOCHI. There are 941 holders, and the floor price is 0.135 ETH.

20.Top Trending Tokens on Twitter

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

21.Google Trends - Global

Arkham (DApp) - Due to the recent market focus on the outflows of Grayscale's GBTC and various whale wallet transfers, intelligence provided by the on-chain data analysis platform Arkham has gained significant market attention, with numerous media outlets citing its reports.

UMA (Token) - UMA recently launched Oval to capture "oracle extractable value" in DeFi protocols. Over the past week, UMA surged over 180%, drawing market attention. Additionally, media outlets reported that an UMA whale wallet transferred funds to Coinbase yesterday.

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

a) South Asia Region

India Trends: UTM

Pakistan Trends: fear and greed index, dca

b) Southeast Asia Region

Malaysia Trends: XRP, SOL

Philippines Trends: PI, PEPE

Singapore Trends: TIA, SEI, ETH, AXS

Indonesia Trends: smart wallet, BEAMX

c) East Asia

No significant trending keywords

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

a) CIS Region

Trends: arkham, tradingview, crypto casino

b) English-speaking Countries

USA Trends: YFI, UMA

Australia Trends: TAO, VRA, TIA, XAI, SAND

Canada Trends: ARB, QNT, MYRO, INJ, GRT, birdeye

UK Trends: INJ, KAS

c) Europe

Poland Trends: ARKM, PLSX

France Trends: multichain, OPSEC, FIL, EOS, CEL

Switzerland Trends: ADA

Türkiye Trends: faucet crypto, crypto wallet, long short oranları, tradingview

Italy Trends: SUI, VET

Spain Trends: LUNC, ALU

Germany Trends: grayscale, FTX, CSPR, AVAX

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

a) Africa

South Africa Trends: SEI, XRP, PEPE

Nigeria Trends: XRP

b) Middle East

Trends: fear and greed index crypto, tradingview

c) Latin America

Brazil Trends: NEO, MUBI, HNT, LUNA, NEAR

Argentina Trends: MAV, UMA, ARKM, SOL

Colombia Trends: BONK

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