Bitget Research Institute: BTC briefly fell to $40,000, and the Fed meeting minutes poured cold water on rate cut expectations.

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1 year ago

In the past 24 hours, the market has seen many new popular currencies and topics, perhaps they are the next market focus.

Authored by: Bitget Research Institute

In summary

1. Popular currency aspect:

INSC (Token): BRC20 token representing inscriptions, deployed on March 17, 2023, after SATS, some community users mined it to have a certain meme status in the BRC20 track. The current token market value is 15 million US dollars, 24-hour on-chain trading volume is 880,000, the number of holding addresses is 2250, and it is still in the early stage.

BEND (Token): BendDao is an NFT lending platform on Ethereum, and the latest issued BDIN inscription token expands the BTC ecosystem NFT lending and cross-chain functions. It will also conduct IDOs on BendDao, Bakery, and Turtsat. Long-term holders of BEND tokens will have the opportunity to get whitelisted. The BEND token has risen by 185% in the past month, with a 24-hour trading volume of 2 million US dollars.

MICKEY (Token): A meme coin with the core intention of Disney's classic character Mickey Mouse, as Disney no longer owns the copyright to the original Mickey Mouse since January 1 of this year, multiple Mickey Mouse meme coins have appeared on the chain, and eventually MICKEY gained consensus and its market value exceeded 10 million US dollars, with a 24-hour trading volume of 6.25 million US dollars.

1CAT (Token): This project is the native token issued by the multi-chain game project Bitcoin Cat, and it is the first phase of the BTC ecosystem IDO project on Bakery, maintaining a high market value of over 30 million US dollars. Bakery's subsequent projects have shown weak performance, and on January 6, it will conduct the BDIN inscription token's IDO with Turtsat and BendDao.

ARB (Token): ARB quickly rebounded after following BTC's flash drop to 1.39 US dollars yesterday, once again hitting a historical high. The ecological projects remain strong, with GMX, RNDT, and others experiencing varying degrees of rebound. The on-chain DEX's 24-hour trading volume exceeded 927 million US dollars, with a 24-hour increase of over 92%, surpassing Solana and ranking second.

2. Popular NFT aspect:

NodeMonkes (NFT): An Ordinals NFT project with code monkeys as meme attributes, the latest floor price has reached 0.249 BTC, surpassing Bitcoin Frogs to become the hottest NFT project in the current Ordinal NFT market, with a market value exceeding 100 million US dollars and a 24-hour trading volume of over 6 million US dollars on Magic Eden.

3. Popular DAPP aspect:

Uniswap (Dapp): As of January 3, Uniswap Labs' front-end transaction fees (revenue) have accumulated over 3.3 million US dollars, with a daily income of 66,000 US dollars. Earlier, Uniswap Labs announced that it would charge a 0.15% exchange (swap) fee for certain tokens in its web application and wallet from October 17, 2023, including ETH, USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC, and XSGD.

Sleepless AI (Dapp): The first NFT HIM Genesis I auction by SleeplessAI ended at midnight yesterday, with the highest unit price exceeding 510 BNB and a total auction amount of over 8477 BNB, equivalent to 2.6 million US dollars. Its Launchpool has ended, and the tokens are expected to be listed soon, with airdrops opening 20 minutes before listing.

Hooked Pickaxe (Dapp): The Web3 gamified social education platform announced that its first fair launch project on the Hooked Education Launchpad in December 2023 is the BRC20 project TUNO. TUNO is an inscription project that connects the BRC20 and Ethereum ecosystems, with no innovation, currently distributed, with a total market value of 1.6 million US dollars and a 24-hour on-chain trading volume of 6000 US dollars, with low popularity.

Gas Hero (Dapp): Gas Hero is a Web3 social and strategy game developed by the former StepN team. Unlike traditional games, Gas Hero focuses heavily on game theory, providing players with richer strategies and maximizing the transparency of on-chain data using decentralized trading platforms. The game has just launched, and NFT trading within the game is quite hot.

Port3 Network (Dapp): The social data gateway Port3 will conduct a public sale on Bounce Brand, WePad, FlyBTC, and Poolz Finance platforms at 22:00 on January 7, with the token symbol PORT3. Port3 Network was established in 2022 and is a portal website for obtaining and aggregating Web3 social data. Port3's SoQuest application allows projects to incentivize users to share their data through tasks and rewards to drive traffic.

Xai (Dapp): A game blockchain built on Arbitrum, XAI is the native gas token of Xai. Binance announced the launch of XAI's Launchpool, with mining starting from January 5, 00:00 (UTC). At the same time, XAI officially announced the details of the token airdrop, with the XAI airdrop accounting for 5% of the total supply, totaling 125 million tokens. Vanguard NFT holders will receive 1307 XAI per NFT, Legendary NFT holders will receive 290 XAI per NFT, and Sentry Node Operators will receive 1658 XAI.

Jupiter Exchange (Dapp): Jupiter co-founder Meow stated that the JUP token airdrop is planned for the end of January, with 10% to be extracted from the team wallet to provide liquidity, and 15% to be extracted from the community wallet for the initial airdrop and early community activity needs. It is expected that 15%-17.5% of the tokens will enter circulation on the first day of JUP's creation, 10%-7.5% of the tokens will be in hot wallet storage, and 75% of the tokens will be in cold wallet storage.

Pixels (Dapp): The blockchain game Pixels announced in its community AMA that the Play to Airdrop second season will start on January 5 (UTC+8), with less distribution compared to the first season, and may ultimately include a lottery system. In addition, the token issuance (TGE) of the game's main coin PIXEL will take place in one to two weeks, and the rewards for the first season of Play to Airdrop will be distributed before this TGE.

4. Twitter hot discussion aspect:

ETH (Token): Yesterday, the market experienced a sharp decline, with core crypto assets such as BTC and ETH dropping by more than 10% in a short period, and altcoins plummeting; over 500 million US dollars were liquidated in the entire market within one hour. The BTC spot ETF will yield results in 1-2 weeks, and the market's consensus on long strategies is concentrated, making it prone to trading stampedes.

5. Regional hot search aspect:

BITCOIN (Token): Yesterday, the minutes of the December meeting of the Federal Reserve mentioned that the interest rate hike cycle has clearly ended, but the start time for the interest rate cut is uncertain and may take longer to begin. According to CME data, the market's expectation of a rate cut in March has decreased from 80% to 68%, directly supporting the upward trend of the US dollar index. The strategy for trading BTC ETF approval in the crypto market is relatively crowded, leading to yesterday's trading stampede.

Main Text

Authored by: Bitget Research Institute

Statistical time: January 4, 10:30

Data source: Dune, Dapps, Twitter, Google

Explanation:

1) New active users: Refers to wallet addresses that have newly emerged and interacted on the chain in the past 24 hours on the public chain.

2) Stock active users: Refers to wallet addresses that were generated on the public chain 24 hours ago and have interacted on the chain in the past 24 hours.

3) Dapp daily active users (UAW: unique active wallets)

4) TGE (Token Generation Event)

5) In the report, "Entity" refers to the collective term for contract accounts (CA) and Ethereum original accounts (EOA), and does not represent the aggregated results of entity addresses.

1.BTC Portrait - BRC20

INSC (Token): A BRC20 token representing inscriptions, deployed on March 17, 2023, and was mined by some community users after SATS, gaining a certain meme status in the BRC20 track. The current token market value is 15 million US dollars, with a 24-hour on-chain trading volume of 880,000 and 2250 holding addresses, still in the early stage.

2.Public Chain Portrait - ETH Public Chain

2.1 User Portrait

2.1.1 Core Data

Total active users on ETH: 421,904

New active users on ETH: 86,060, change compared to yesterday: -5.38%

Stock active users on ETH: 335,844, change compared to yesterday: -8.86%

2.1.2 New User Portrait

Core data: ETH had 86,060 new active users yesterday, a change of -5.38% compared to yesterday.

Popular track situation

Popular project situation

Key projects:

BEND (Token): BendDao is an NFT lending platform on Ethereum, and the latest issuance of the BDIN inscription token expands the BTC ecosystem NFT lending and cross-chain functions. It will also conduct IDOs on BendDao, Bakery, and Turtsat. Long-term holders of BEND tokens will have the opportunity to get whitelisted. The BEND token has risen by 185% in the past month, with a 24-hour trading volume of 2 million US dollars.

2.1.3 Stock User Portrait

Core data: ETH has 335,844 stock active users, a change of -8.86% compared to yesterday.

Popular track situation

Popular project situation

Key projects:

Uniswap (Dapp): As of January 3, Uniswap Labs' front-end transaction fees (revenue) have accumulated over 3.3 million US dollars, with a daily income of 66,000 US dollars. Earlier, Uniswap Labs announced that it would charge a 0.15% exchange (swap) fee for certain tokens in its web application and wallet from October 17, 2023, including ETH, USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC, and XSGD.

2.2 Popular Coin Pairs

2.2.1 Uniswap V2

MICKEY (Token): A meme coin with the core intention of Disney's classic character Mickey Mouse. Since January 1 of this year, when Disney no longer owns the copyright to the original Mickey Mouse, multiple Mickey Mouse meme coins have appeared on the chain. Eventually, MICKEY gained consensus and its market value exceeded 10 million US dollars, with a 24-hour trading volume of 6.25 million US dollars.

2.2.2 Uniswap V3

1CAT (Token): This project is the native token of the multi-chain game project Bitcoin Cat and is the first phase of the BTC ecosystem IDO project on Bakery, maintaining a high market value of over 30 million US dollars. Bakery's subsequent projects have shown weak performance, and on January 6, it will conduct the BDIN inscription token's IDO with Turtsat and BendDao.

2.3 Popular NFT

2.3.1 Top NFT Collection

NodeMonkes (NFT): An Ordinals NFT project with code monkeys as meme attributes. The latest floor price has reached 0.249 BTC, surpassing Bitcoin Frogs to become the hottest NFT project in the current Ordinal NFT market, with a market value exceeding 100 million US dollars and a 24-hour trading volume of over 6 million US dollars on Magic Eden.

3.Public Chain Portrait - BSC Public Chain

3.1 User Portrait

3.1.1 Core Data

Total active users on BSC: 1,695,641

New active users on BSC: 209,117, change compared to yesterday: -11.99%

Stock active users on BSC: 1,486,524, change compared to yesterday: +2.28%

3.1.2 New User Portrait

Core data: BSC had 209,117 new active users yesterday, a change of -11.99% compared to yesterday.

Popular track situation

Popular project situation

Key project:

Sleepless AI (Dapp): The first NFT HIM Genesis I auction by SleeplessAI ended at midnight yesterday, with the highest unit price exceeding 510 BNB and a total auction amount of over 8477 BNB, equivalent to 2.6 million US dollars. Its Launchpool has ended, and the token is expected to be listed soon, with airdrops opening 20 minutes before listing.

3.1.3 Stock User Portrait

Core data: BSC has 1,486,524 stock active users, a change of +2.28% compared to yesterday.

Popular track situation

Popular project situation

Key project:

Hooked Pickaxe (Dapp): A Web3 gamified social education platform that announced the first fair launch project for the BRC20 project TUNO on its Hooked Education Launchpad at the end of December 2023. TUNO is an inscription project connecting BRC20 and Ethereum ecosystem tokens, with no innovation, currently distributed, with a total market value of 1.6 million US dollars and a 24-hour on-chain trading volume of 6000 US dollars, with low popularity.

3.2 Popular Coin Pairs

3.2.1 PancakeSwap V2

There are many meme coins on the BSC chain, and currently, new projects supported and incubated by Binance are transitioning to opBNB.

4. Public Chain Portrait - Polygon Public Chain

4.1 User Portrait

4.1.1 Core Data

Total active users on Polygon: 572,739

New active users on Polygon: 99,220, change compared to yesterday: +1.72%

Stock active users on Polygon: 473,519, change compared to yesterday: +4.77%

4.1.2 New User Portrait

Core data: Polygon had 99,220 new active users yesterday, a change of +1.72% compared to yesterday.

Popular track situation

Popular project situation

Key project:

Gas Hero (Dapp): Gas Hero is a Web3 social and strategy game developed by the former StepN team. Unlike traditional games, Gas Hero focuses heavily on game theory, providing players with richer strategies and maximizing the transparency of on-chain data using decentralized trading platforms. The game has just launched, and NFT trading within the game is quite popular.

4.1.3 Stock User Portrait

Core data: Polygon has 473,519 stock active users, a change of +4.77% compared to yesterday.

Popular track situation

Popular project situation

Key project:

Port3 Network (Dapp): The social data gateway Port3 will conduct a public sale on January 7 at 22:00 on the Bounce Brand, WePad, FlyBTC, and Poolz Finance platforms, with the token symbol PORT3. Port3 Network was established in 2022 and is a portal website for obtaining and aggregating Web3 social data. Port3's SoQuest app allows projects to incentivize users to share their data through tasks and rewards to drive traffic.

4.2 Popular Coin Pairs

4.2.1 Uniswap V3

There are no particularly popular trading pairs on Polygon.

5. Public Chain Portrait - Arbitrum Public Chain

5.1 User Portrait

5.1.1 Core Data

Total active users on Arbitrum: 182,325

New active users on Arbitrum: 27,356, change compared to yesterday: -1.18%

Stock active users on Arbitrum: 154,969, change compared to yesterday: +6.72%

5.1.2 New User Portrait

Core data: Arbitrum had 27,356 new active users yesterday, a change of -1.18% compared to yesterday.

Popular track situation

Popular project situation

Key project:

5.1.3 Stock User Portrait

Core data: Arbitrum has 154,969 stock active users, a change of +6.72% compared to yesterday.

Popular track situation

Popular project situation

Key project:

Xai (Dapp): A game blockchain built on Arbitrum, the first Layer3 on Arb, XAI is the native gas token of Xai. Binance announced the launch of XAI's Launchpool, with mining starting from January 5 at 00:00 (UTC). Additionally, XAI officially announced details of the token airdrop, with the XAI airdrop accounting for 5% of the total supply, totaling 125 million tokens. Vanguard NFT holders will receive 1307 XAI per NFT, Legendary NFT holders will receive 290 XAI per NFT, and Sentry Node Operators will receive 1658 XAI.

5.2 Popular Coin Pairs

5.2.1 Uniswap V3

ARB (Token): ARB followed BTC's flash crash yesterday, dropping to $1.39 before quickly rebounding to hit a new all-time high. The ecosystem projects remain strong, with GMX, RNDT, and others experiencing varying degrees of rebound. The on-chain DEX trading volume exceeded $927 million in 24 hours, with a 24-hour increase of over 92%, surpassing Solana and ranking second.

6. Public Chain Portrait - Base Public Chain

6.1 User Portrait

6.1.1 Core Data

Total active users on Base: 67,802

New active users on Base: 10,364, change compared to yesterday: +7.72%

Stock active users on Base: 57,438, change compared to yesterday: -11.14%

6.1.2 New User Portrait

Core data: Base had 10,364 new active users yesterday, a change of +7.72% compared to yesterday.

Popular track situation

Popular project situation

Key project:

Dmail (Dapp): Dmail is a mail application based on Web3.0 and Dfinity technology, integrating NFT functionality and distributed storage, with each account itself being an NFT. The project aims to eliminate the differences between traditional email systems and blockchain-based email systems, thereby reducing the barriers for users and developers to participate in the encrypted world. The design concept of Dmail is to make the use of blockchain technology as simple and intuitive as the internet.

6.1.3 Stock User Portrait

Core data: Base has 57,438 stock active users, a change of -11.14% compared to yesterday.

Popular track situation

Popular project situation

Key project:

Layerzero (Dapp): According to the V2 technical whitepaper, the V2 version has been deployed on over 40 testnets, and the mainnet is expected to launch in January 2024. More specific information has not yet been released, and Layerzero currently ranks high in gas consumption on various public chains.

7. DAPP Ecosystem - All Public Chains

CARV (Dapp): CARV is a super application powered by AI, focusing on social, authentication, and publishing in games. It allows users to self-prove ownership, character behavior, social relationships, or past experiences as credentials, and builds reputation through consented zero-knowledge data. It is a user-centric platform with true data autonomy, allowing users to control and monetize their identity and data.

8. DAPP Ecosystem - ETH Public Chain

Uniswap (Dapp): As of January 3, Uniswap Labs' frontend trading fees (revenue) have accumulated over $3.3 million, with daily revenue of $66,000. Earlier, Uniswap Labs announced a 0.15% exchange (swap) fee for certain tokens in its web application and wallet from October 17, 2023, including specific tokens such as ETH, USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC, XSGD.

9. DAPP Ecosystem - BSC Public Chain

NFPrompt (Dapp): NFPrompt is the first AI-driven art creation and NFT trading platform, allowing users to generate artwork through text prompts and mint them as NFTs, empowering each user to become an artist and own works on the chain.

10. DAPP Ecosystem - Polygon Public Chain

Gas Hero (Dapp): Gas Hero is a Web3 social and strategy game developed by the former StepN team. Unlike traditional games, Gas Hero focuses heavily on game theory, providing players with richer strategies and maximizing on-chain data transparency using decentralized trading platforms. The game has just launched and NFT trading within the game is quite popular.

11. DAPP Ecosystem - Solana Public Chain

Jupiter Exchange (Dapp): Jupiter co-founder Meow stated that they plan to conduct a JUP token airdrop at the end of January, with 10% to be extracted from the team wallet for providing liquidity, and 15% to be extracted from the community wallet for the initial airdrop and early community activity needs. It is expected that 15%-17.5% of the tokens will enter circulation on the first day of JUP's launch, with 10%-7.5% of the tokens in hot wallet storage and 75% in cold wallet storage.

12. DAPP Ecosystem - Arbitrum Public Chain

WOOFi (Dapp): Crypto trading platform WOO X is set to expand its designated market maker (DMM) program to the spot market this month. WOO X stated that since the launch of the perpetual contract DMM model in August 2023, the model currently accounts for nearly 80% of the total order trading volume in the perpetual futures market.

13. DAPP Ecosystem - Base Public Chain

Odos (Dapp): Odos Protocol is the first Dex aggregator that allows users to exchange multiple tokens for a single asset in a single atomic transaction, easily converting a basket of input tokens into the desired output, saving gas fees and limiting market volatility.

14. DAPP Ecosystem - GameFi Sector Across All Public Chains

Pixels (Dapp): Blockchain game Pixels announced in their community AMA that the second season of the Play to Airdrop game will begin on January 5th (UTC+8). The second season will have fewer allocations compared to the first season and may ultimately include a lottery system. Additionally, the main coin PIXEL's token generation event (TGE) will take place within one to two weeks, and rewards for the first season of Play to Airdrop will be distributed before this TGE.

15. Gas Fee Consumption - ETH Public Chain

Maestro (Dapp): Maestro, a popular on-chain bot, is currently experiencing a daily fee growth to previous highs, reaching $150,000 to $200,000, maintaining its position at the top of the BOT track.

16. Gas Fee Consumption - BSC Public Chain

bloXroute (Dapp): One of the largest anti-censorship block producers on Ethereum, bloXroute Labs, has announced a complete transformation and will begin reviewing all OFAC-sanctioned blocks on its MEV relays based on local laws. It is reported that bloXroute Labs has produced at least 400,000 Ethereum blocks on its two leading MEV relays.

17. Gas Fee Consumption - Polygon Public Chain

Port3 (Dapp): The Port3 project is a blockchain project aimed at becoming a Web3 social data gateway, providing open data services by aggregating Web2 and Web3 data. The design of Port3 includes three core modules: data collection, data reading, and data application to support the aggregation of community dynamics, social media trends, and on-chain transaction data. Port3 Network recently launched the BRC20 section and will release Bitcoin BQL. It was announced yesterday that an IDO will be conducted on platforms such as Auction, with the token PORT3 having a relatively reasonable valuation and worth paying attention to.

18. Gas Fee Consumption - Arbitrum Public Chain

Paraswap (Dapp): ParaSwap is a multi-chain decentralized exchange (DEX) aggregator that operates on the Ethereum blockchain and is dedicated to improving the user experience when dealing with various decentralized finance (DeFi) protocols, ultimately aiming to promote liquidity flow in decentralized markets. ParaSwap's mission is to elevate DeFi participation to new heights by providing secure, intelligent, and optimized trading solutions for individual and institutional traders, enabling them to effortlessly access decentralized liquidity pools.

19. Gas Fee Consumption - Base Public Chain

There are currently no new popular contracts on the Base chain;

20. Twitter Trends Token Top Rank

ETH (Token): The market experienced a sharp decline yesterday, with core crypto assets such as BTC and ETH falling by over 10% in a short period of time, and altcoins also plummeting. Over 500 million USD in liquidations occurred in the entire market within 1 hour. The result of the BTC spot ETF is expected in 1-2 weeks, and there is a high concentration of market consensus on a bullish strategy, which may lead to trading stampede events.

21. Google Hot Search Word Cloud - Global

BITCOIN (Token): Yesterday, the minutes of the December meeting of the Federal Reserve mentioned that the interest rate hike cycle has ended, but the start time for the interest rate cut is uncertain and may take longer to begin. According to CME data, the market's expectation of an interest rate cut in March has decreased from 80% to 68%, directly supporting the upward movement of the US dollar index. There is high congestion in the strategy of trading BTC ETF approval, leading to the trading stampede event yesterday.

22. Google Search Hot Words Surge - East Asia, South Asia, Southeast Asia, Hong Kong, Macau, and Taiwan

[South Asia]

"India" Hot Search: IOST, Crypto Crash;

"Pakistan" Hot Search: Crypto Crash, Yahoo Finance;

[Southeast Asia]

"Malaysia" Hot Search: Crypto Crash, Bonk, Bitcoin, MATIC;

"Philippines" Hot Search: BEAM;

"Singapore" Hot Search: ENTS, BTC, Matic, Crypto Crash;

"Indonesia" Hot Search: ACE, etf, Babydoge;

[East Asia] Hot Search: crypto bubbles;

23. Google Search Hot Words Surge - English-speaking Regions, Europe, CIS Region

[CIS Region] Hot Search: Crypto Bubble, Crypto News;

[English-speaking Regions]

"Australia" Hot Search: Crypto Crash, ORDI;

"United Kingdom" Hot Search: Crypto Crash, CNBC, Coinskid;

"United States" Hot Search: Crypto Crash, Matrixport;

"Canada" Hot Search: Matrixport, ORDI, Trader joe, Matrixport;

[Europe]

"France" Hot Search: DYDX, XAI, ENS, Crypto Crash, ETH;

"Poland" Hot Search: btc etf, Pancake, trx, XAI;

"Switzerland" Hot Search: grt, sia, bonk, sei, gmx;

"Turkey" Hot Search: Crypto Crash, SEC, BTC;

"Germany" Hot Search: Matrixport, XRP, Solana;

"Italy" Hot Search: SLP, PEOPLE, ENS, AVAX;

"Spain" Hot Search: ARB, HEAR, FREE, LTC, PERP;

24. Google Search Hot Words Surge - Middle East, Latin America, Africa

[Africa]

"South Africa" Hot Search: Crypto Crash, ICO;

"Nigeria" Hot Search: Crypto Crash;

[Middle East] Hot Search: BTC ETF, SHIB, ICP, BTC NEWS;

[Latin America]

"Brazil" Hot Search: mubi, icp, uniswap, pepe, eth;

"Argentina" Hot Search: arb, ada, shib, avax, Crypto Crash;

"Mexico" Hot Search: Crypto Crash;

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