Bitget Research: BTC Falls Below $51,000, Bitcoin Layer 2 Merlin TVL Rises to Nearly $2 Billion

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:

MMSS (Token) - Targeting the youth art community, this project's token has been minted out, with a current 24-hour trading volume of approximately $200,000. It recently issued a BTC asset under the Ordinals protocol, priced at 0.005BTC. The project demonstrates sustainable operational capacity, making it essential to stay updated.

Blur (Token) - Starknet is set to open airdrop claims, with market funds returning to the Ethereum ecosystem. Blur is the token of the leading NFT marketplace in the Ethereum ecosystem, enjoying significant popularity, and is worth ongoing attention.

WCD (Token) - Official McDonald's Twitter account announced the launch of its metaverse brand wcdonalds, with the tweet receiving a like from Elon Musk. Following this news, the related memecoin WCD experienced a wave of hype. After the initial sell-off by the deployer was absorbed, its market cap increased several times from $400,000. Given the high risks such as modifiable tax rates, involvement in the project is not recommended.

WLD (Token) - On February 16, OpenAI announced a new artificial intelligence system named Sora, sparking a surge in the AI sector. Following this announcement, the price of WLD soared, breaking through $7 three days later before pulling back. It is currently experiencing a second surge, with the price exceeding $9.

RNDR (Token) - Render Network (RNDR) is a blockchain-based distributed GPU rendering network platform developed by OTOY. Its main objective is to utilize blockchain technology to provide a one-stop platform for 3D content creation and transactions. The RNDR token is used as a payment currency within this network, enabling users to offer their idle GPU resources for rendering services to others and receive RNDR tokens as compensation.

PENDLE (Token) - Pendle's TVL skyrocketed after entering the LRT market, surpassing $900 million. The project's market cap has reached $280 million, with the total trading volume on the platform exceeding $1 billion, setting new records in all metrics and enjoying high popularity.

2.Popular NFTs:

Node Monkes (NFT) - A PFP NFT series based on the Ordinals protocol within the Bitcoin ecosystem. Recently, NodeMonkes Honoraries' NFTs were auctioned at Sotheby's, generating 38 bids and valued at $6500. This promotional strategy has brought significant traffic to the project, with its NFTs experiencing increased trading volume and wealth effects on MagicEden recently.

Smart Cat (NFT) -An NFT project launched by Smart Layer, which has very high on-chain popularity. Users can interact with SmartCat NFTs by feeding and cleaning them, and the level of interaction is notably high. SmartLayer has announced the tokenomics of SLN, with an airdrop ratio of 2%. The airdrop claims will be opened today, with the token being listed on multiple exchanges.

Persona (NFT) - An NFT game project by Xterio, Persona's public sale was held yesterday. Participants had to bid within a range of 0.069 to 0.29 ETH, with the sale closing at the upper limit of 0.29 ETH per piece. The current floor price is reported at 0.51 ETH, with a trading volume of 967 ETH. The high demand briefly caused an increase in on-chain gas fees.

3.Popular DApps:

BananaGun (DApp) - The Telegram Bot project, Banana Gun, has announced that its bot service has been launched on the Solana network, with new features to be continually added following testing. Banana Gun has also established a collaboration with Jito. The project is currently in the testing phase for sniping and in-house limit order features.

QnA3.AI (DApp) - The AI project QnA3.AI announced on social media its first round of token airdrop promotion, where interaction records and credits will determine users' share of the airdrop, targeting active participants, participants with outstanding interactive performance, and global ambassadors. QnA3 is an AI-driven, one-stop Web3 knowledge engine and trading portal, where users can ask questions to AI or vote on questions.

Kratos Studios (DApp) - Kratos Studios, based in India, is a Web3 gaming startup and the intellectual property owner of the world's largest gaming DAO, IndiGG. Established in 2022, the company focuses on developing various types of games, operating as a Web3 gaming company. In addition to holding the intellectual property of IndiGG, Kratos Studios is also an active investor in the global Web3 gaming space.

Rhinofi (DApp) - Since its launch in 2020, StarkEx has processed over 265 million transactions and minted more than 80 million NFTs. Applications or solutions powered by StarkEx include Immutable, Sorare, dYdX, Rhinofi, and Myria. Rhinofi users can claim the STRK token airdrop, with a reminder for those who have used the service to ensure they claim their rewards.

XAI (DApp) - The Layer 3 gaming project in the Arbitrum ecosystem, xAI, announced that its XAI token staking system v1 will go live next week, with v2 set to launch in March. The XAI token has recently seen a strong increase in value.

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

Sweat (DApp) - A traditional Web2 project that has transitioned to a Web3 wallet and a "Move to Earn" project, with currently 5 million downloads on Google Play. Users can earn SWEAT tokens through its Sweat Wallet application by engaging in daily physical activities. As the performance of the Sweat token has been subpar, the project's user growth has hit a plateau.

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.

4.Twitter Hot Topics:

GOONS (DApp) -A 3D art NFT project where the IP will cover tangible products like statues and plush toys to the video game domain, centered around the community. Additionally, $GOONS will serve as the ecosystem's token. The content for the third phase of the project will be released this week.

Bored Ape Yacht Club (NFT) - Greg Solano, co-founder of Yuga Labs, tweeted that he will resume his role as CEO of Yuga Labs. He also stated that BAYC LLC, a Yuga subsidiary, has been established to handle all BAYC-related affairs. Following this announcement, Bored Ape NFTs saw a 10% increase in value, and the floor price once again surpassed that of Penguin NFTs.

5.Regional Trending Searches:

AGIX (Token) - Influenced by Nvidia's Q4 earnings significantly exceeding expectations, the AI sector has shown strong performance recently, led by WLD. SingularityNET, a decentralized AI marketplace and a key asset within the AI sector, has seen its token increase by over 100% in the past seven days, with a market cap of $900 million and a 24-hour total trading volume of $540 million.

Main Body

Written by: Bitget Research

Data collection time: February 23, 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

MMSS (Token) - Targeting the youth art community, this project's token has been minted out, with a current 24-hour trading volume of approximately $200,000. It recently issued a BTC asset under the Ordinals protocol, priced at 0.005BTC. The project demonstrates sustainable operational capacity, making it essential to stay updated.

2.Blockchain Profile - ETH Chain

2.1 User Profile

2.1.1 Core Data

Total active users on ETH: 432,646

New active users on ETH: 91,516, with a daily increase of 2.22%

Existing active users on ETH: 341,130, with a daily decrease of 4.09%

2.1.2 New User Profile

Core data: There were a total of 91,516 new active users on ETH yesterday, with a daily increase of 2.22%

Popular Sectors

Popular Projects

Key Projects:

BananaGun (DApp) - The Telegram Bot project, Banana Gun, has announced that its bot service has been launched on the Solana network, with new features to be continually added following testing. Banana Gun has also established a collaboration with Jito. The project is currently in the testing phase for sniping and in-house limit order features.

2.1.3 Existing User Profile

Core data: The number of ETH active existing users is 341,130, with a daily decrease of 4.09%

Popular Sectors

Popular Projects

Key Projects:

Blur (Token) - Starknet is set to open airdrop claims, with market funds returning to the Ethereum ecosystem. Blur is the token of the leading NFT marketplace in the Ethereum ecosystem, enjoying significant popularity, and is worth ongoing attention.

2.2 Popular Trading Pairs

2.2.1 Uniswap V2

WCD (Token) - Official McDonald's Twitter account announced the launch of its metaverse brand wcdonalds, with the tweet receiving a like from Elon Musk. Following this news, the related memecoin WCD experienced a wave of hype. After the initial sell-off by the deployer was absorbed, its market cap increased several times from $400,000. Given the high risks such as modifiable tax rates, involvement in the project is not recommended.

2.2.2 Uniswap V3

WLD (Token) - On February 16, OpenAI announced a new artificial intelligence system named Sora, sparking a surge in the AI sector. Following this announcement, the price of WLD soared, breaking through $7 three days later before pulling back. It is currently experiencing a second surge, with the price exceeding $9.

2.3 Popular NFTs

2.3.1 Top NFT Collections

Node Monkes (NFT) - A PFP NFT series based on the Ordinals protocol within the Bitcoin ecosystem. Recently, NodeMonkes Honoraries' NFTs were auctioned at Sotheby's, generating 38 bids and valued at $6500. This promotional strategy has brought significant traffic to the project, with its NFTs experiencing increased trading volume and wealth effects on MagicEden recently.

3.Blockchain Profile - BSC

3.1 User Profile

3.1.1 Core Data

Total active users on BSC: 1,437,222

New active users on BSC: 218,900, with a daily increase of 10.86%

Existing active users on BSC: 1,218,322, with a daily increase of 1.80%

3.1.2 New User Profile

Core data: There were a total of 218,900 new active users on BSC yesterday, with a daily increase of 10.86%

Popular Sectors

Popular Projects

Key Projects:

TinyTap Game Events Contract (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.

3.1.3 Existing User Profile

Core data: The number of BSC active existing users is 1,218,322, with a daily increase of 1.80%

Popular Sectors

Popular Projects

Key Projects:

QnA3.AI (DApp) - The AI project QnA3.AI announced on social media its first round of token airdrop promotion, where interaction records and credits will determine users' share of the airdrop, targeting active participants, participants with outstanding interactive performance, and global ambassadors. QnA3 is an AI-driven, one-stop Web3 knowledge engine and trading portal, where users can ask questions to AI or vote on questions.

3.2 Popular Trading Pairs

3.2.1 PancakeSwap V2

SORA (Token) - A concept token related to OpenAI's newly launched text-generation AI product, primarily traded on Ethereum.

4.Blockchain Profile - Polygon Chain

4.1 User Profile

4.1.1 Core Data

Total active users on Polygon: 1,000,701

New active users on Polygon: 146,916, with a daily increase of 11.75%

Existing active users on Polygon: 853,785, with a daily increase of 7.40%

4.1.2 New User Profile

Core data: There were a total of 146,916 new active users on Polygon yesterday, with a daily increase of 11.75%

Popular Sectors

Popular Projects

Key Projects:

Kratos Studios (DApp) - Kratos Studios, based in India, is a Web3 gaming startup and the intellectual property owner of the world's largest gaming DAO, IndiGG. Established in 2022, the company focuses on developing various types of games, operating as a Web3 gaming company. In addition to holding the intellectual property of IndiGG, Kratos Studios is also an active investor in the global Web3 gaming space.

4.1.3 Existing User Profile

Core Data: The number of Polygon active existing users is 853,785, with a daily increase of 7.40%

Popular Sectors

Popular Projects

Key Projects:

Smart Cat (NFT) -An NFT project launched by Smart Layer, which has very high on-chain popularity. Users can interact with SmartCat NFTs by feeding and cleaning them, and the level of interaction is notably high. SmartLayer has announced the tokenomics of SLN, with an airdrop ratio of 2%. The airdrop claims will be opened today, with the token being listed on multiple exchanges.

4.2 Popular Trading Pairs

4.2.1 Uniswap V3

RNDR (Token) - Render Network (RNDR) is a blockchain-based distributed GPU rendering network platform developed by OTOY. Its main objective is to utilize blockchain technology to provide a one-stop platform for 3D content creation and transactions. The RNDR token is used as a payment currency within this network, enabling users to offer their idle GPU resources for rendering services to others and receive RNDR tokens as compensation.

5.Blockchain Profile - Arbitrum Chain

5.1 User Profile

5.1.1 Core Data

Total Active Users on Arbitrum: 192,787

New Active Users on Arbitrum: 33,210, with a daily decrease of 11.21%

Existing Active Users on Arbitrum: 159,577, with a daily decrease of 1.00%

5.1.2 New User Profile

Core data: There were a total of 33,210 new active users on Arbitrum yesterday, with a daily decrease of 11.21%

Popular Sectors

Popular Projects

Key Projects:

Rhinofi (DApp) - Since its launch in 2020, StarkEx has processed over 265 million transactions and minted more than 80 million NFTs. Applications or solutions powered by StarkEx include Immutable, Sorare, dYdX, Rhinofi, and Myria. Rhinofi users can claim the STRK token airdrop, with a reminder for those who have used the service to ensure they claim their rewards.

5.1.3 Existing User Profile

Core data: The number of Arbitrum active existing users is 159,577, with a daily decrease of 1.00%

Popular Sectors

Popular Projects

Key Projects:

XAI (DApp) - The Layer 3 gaming project in the Arbitrum ecosystem, xAI, announced that its XAI token staking system v1 will go live next week, with v2 set to launch in March. The XAI token has recently seen a strong increase in value.

5.2 Popular Trading Pairs

5.2.1 Uniswap V3

PENDLE (Token) - Pendle's TVL skyrocketed after entering the LRT market, surpassing $900 million. The project's market cap has reached $280 million, with the total trading volume on the platform exceeding $1 billion, setting new records in all metrics and enjoying high popularity.

6.Blockchain Profile - Base Chain

6.1 User Profile

6.1.1 Core Data

Total Active Users on Base: 96,229

New Active Users on Base: 14,901, with a daily decrease of 21.15%

Existing Active Users on Base: 81,328, with a daily decrease of 22.67%

6.1.2 New User Profile

Core data: There were a total of 14,901 new active users on Base yesterday, with a daily decrease of 21.15%

Popular Sectors

Popular Projects

Key Projects:

Odos (DApp) - The Odos Protocol stands out as the first Dex aggregator that allows users to swap multiple tokens for a single asset in one atomic transaction. This system facilitates the exchange of a basket of input tokens for the desired output in one go, saving on gas fees and mitigating market volatility. 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 81,328, with a daily decrease of 22.67%

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 blockchain technology as simple and intuitive as using the internet. DMAIL has been listed on Bitget. It is essential to stay updated on this project.

7.DApp Ecosystem - All Chains

Sweat (DApp) - A traditional Web2 project that has transitioned to a Web3 wallet and a "Move to Earn" project, with currently 5 million downloads on Google Play. Users can earn SWEAT tokens through its Sweat Wallet application by engaging in daily physical activities. As the performance of the Sweat token has been subpar, the project's user growth has hit a plateau.

8.DApp Ecosystem - ETH Chain

The UAW fluctuations of all the projects are within the normal range.

9.DApp Ecosystem - BSC

The UAW fluctuations of all the projects are within the normal range.

10.DApp Ecosystem - Polygon Chain

The UAW fluctuations of all the projects are within the normal range.

11.DApp Ecosystem - Solana Chain

The UAW fluctuations of all the projects are within the normal range.

12.DApp Ecosystem - Arbitrum Chain

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.

13.DApp Ecosystem - Base Chain

The UAW fluctuations of all the projects are within the normal range.

14.DApp Ecosystem - GameFi Sector Across All Chains

Kratos was described earlier in the report, and the UAW fluctuations of all projects are within the normal range.

15.Gas Fee Consumption - ETH Chain

Persona (NFT) - An NFT game project by Xterio, Persona's public sale was held yesterday. Participants had to bid within a range of 0.069 to 0.29 ETH, with the sale closing at the upper limit of 0.29 ETH per piece. The current floor price is reported at 0.51 ETH, with a trading volume of 967 ETH. The high demand briefly caused an increase in on-chain gas fees.

16.Gas Fee Consumption - BSC

QnA3.AI (DApp) - The AI project QnA3.AI announced on social media its first round of token airdrop promotion, where interaction records and credits will determine users' share of the airdrop, targeting active participants, participants with outstanding interactive performance, and global ambassadors. QnA3 is an AI-driven, one-stop Web3 knowledge engine and trading portal, where users can ask questions to AI or vote on questions.

17.Gas Fee Consumption - Polygon Chain

Smart Cat (NFT) -An NFT project launched by Smart Layer, which has very high on-chain popularity. Users can interact with SmartCat NFTs by feeding and cleaning them, and the level of interaction is notably high. SmartLayer has announced the tokenomics of SLN, with an airdrop ratio of 2%. The airdrop claims will be opened today, with the token being listed on multiple exchanges.

18.Gas Fee Consumption - Arbitrum Chain

XAI (DApp) - The Layer 3 gaming project in the Arbitrum ecosystem, xAI, announced that its XAI token staking system v1 will go live next week, with v2 set to launch in March. The XAI token has recently seen a strong increase, with a 24-hour surge of over 20%.

19.Gas Fee Consumption - Base Chain

No new popular projects.

20.Top Trending Projects on Twitter

GOONS (DApp) -A 3D art NFT project where the IP will cover tangible products like statues and plush toys to the video game domain, centered around the community. Additionally, $GOONS will serve as the ecosystem's token. The content for the third phase of the project will be released this week.

Bored Ape Yacht Club (NFT) - Greg Solano, co-founder of Yuga Labs, tweeted that he will resume his role as CEO of Yuga Labs. He also stated that BAYC LLC, a Yuga subsidiary, has been established to handle all BAYC-related affairs. Following this announcement, Bored Ape NFTs saw a 10% increase in value, and the floor price once again surpassed that of Penguin NFTs.

21.Google Trends - Global

AGIX (Token) - Influenced by Nvidia's Q4 earnings significantly exceeding expectations, the AI sector has shown strong performance recently, led by WLD. SingularityNET, a decentralized AI marketplace and a key asset within the AI sector, has seen its token increase by over 100% in the past seven days, with a market cap of $900 million and a 24-hour total trading volume of $540 million.

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

a) South Asia Region

India Trends: Metaverse, PIE, SPELL, Valhadex

Pakistan Trends: Worker, Exchanges, Bithub, Fund trader

b) Southeast Asia Region

Vietnam Trends: Gaming, Ai Crypto, Defillama

Philippines Trends: ETH, Halving, BTC, Jasmy

Singapore Trends: Uniswap, World Coin, RUNE, Ai, Pixel, GRT

Indonesia Trends: Etherscan, AGIX, RNDR, HBAR

c) East AsiaTrends: Crypto

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

a) CIS RegionTrends: Bubbles, Casino, News, Airdrop

b) English-speaking Countries

Australia Trends: AGIX, API3, FET, OPSEC, SPELL, World coin, OCEAN

UK Trends: AI, AMP, GRT, XRP, Eigenlayer, RSR, ORCA

USA Trends: RNDR, Pangolin, AMP, ONDO, OCH, Flare, SPELL, FLUX

Canada Trends: Celestia, IOTA, DOGE, STX, NOIA, WLD

c) Europe

France Trends: GRT, ONDO, AI, SPELL, TOSHI, INJ, TRAC, RNDR, CSPR

Poland Trends: Pixels, AMP, ETF, News, GALA, XAI, XRP

Switzerland Trends: Bitget, JASMY, SIA, Polygon, Depin, Alephium, GRT

Türkiye Trends: News, Fund trader, Coinglass, Selcoin

Germany Trends: News, AGIX, AI, BTC, JASMY, World coin, Fantom

Italy Trends: WLD, STX, AVAX, AMP, Cosmos, ONDO, ARK, Pixel

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

a) Africa

South Africa Trends: BTC, ETH, News, RNDR

Nigeria Trends: Mail, Bet

b) Middle EastTrends: Prices, Exchanges

c) Latin America

Brazil Trends: RNDR, Portal, JASMY, JUP, AXS, AGIX, SPELL

Argentina Trends: BNB, AVAX, WLD, AGIX, PORTAL, NEXO, INJ

Mexico Trends: PIXEL, Uniswap

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