Apart from the fierce surge of $10,000 in BTC in two days, many sectors such as UNI, Blast, and AI have also been on fire.
Author: Frank, Foresight News
Graphics: Kiet, Foresight News
Note: "Weekly Hot Search" statistics are based on user search results from last Friday to this Friday (February 23 to February 29) on Foresight News, and the capitalization of the same concept has been merged.
"Bitcoin" is undoubtedly the highlight of this week. The fierce surge of $10,000 in just two days has exceeded the expectations of many people. Especially in the early morning of February 28 to 29, BTC not only broke through the important integer mark of $60,000 USDT overnight, but also surged over 10% in 12 hours, reaching a high of $64,000 USDT, less than 10% away from its all-time high. It seems that a new high is within reach (recommended reading: "Bitcoin 'Renminbi New High' is imminent, is the cryptocurrency market entering a time of easy gains?" and "Crazy 24 hours, Bitcoin 'going out' again").
Although there are rumors circulating in the market about "Buffett's" 180-degree turn, it can be confirmed that it is an old news from 2021 that has been misinterpreted:
As early as June 2021, Buffett's Berkshire Hathaway had invested $500 million in the Brazil-friendly crypto company Nubank, causing Nubank's valuation to soar to $30 billion. In December 2021, it increased its stake by another $250 million, and Nubank's crypto-related products include trading Bitcoin ETF products and digital financial services for cryptocurrencies.
However, the continuous inflow of funds from "ETF" and Old Money is indeed an important driving factor that cannot be ignored. In less than two months, the total net asset value of Bitcoin spot ETFs has exceeded $45 billion, with a historical cumulative net inflow of $7.4 billion. Looking back now, spot ETFs may indeed become an important watershed in the history of Bitcoin development (recommended reading: "Forbes interview with Galaxy founder: Bitcoin ETF and the next bull market").
In addition, the "Blast" mainnet also went live today. Although it has sparked community controversy due to the new "PUA" strategy, statistics show that after the Blast mainnet started, there were a total of 25,000 wallets executing over 620,000 transactions in the Blast network within 3 hours, which is enough to show that most users have chosen to continue to increase their sunk costs.
Foresight News also listed 14 ecological projects that can benefit from the Blast mainnet launch, for the readers' enjoyment, see "Benefit from the Blast mainnet launch! Check out the 14 ecological projects that cannot be missed".
The token empowerment issue that "UNI" has been criticized for in the community has finally loosened this week. It is worth noting that due to the lack of value capture ability, the UNI token economy has not brought actual value to token holders. The "Uniswap" Foundation announced this week that it will release a new proposal today, the most important point of which is to distribute any protocol fees to UNI token holders who have staked their tokens.
Regardless of the final result, this has opened up new possibilities for UNI and successfully pushed UNI to rise from around $7 USDT to a high of $13 USDT in the past week, reaching a new high in nearly two years, and also boosting other DEX-related tokens such as SUSHI.
The "Portal"'s "airdrop" token claiming and trading has also begun, which is a pleasant surprise for many users who participated in the viral marketing of Portal before; "EigenLayer"'s momentum remains strong, with a stable growth rate of nearly tens of billions in just over a week since the reopening of the re-staking window on February 6, and the TVL has exceeded the $9 billion mark.
This week, the tokens in the "AI" and meme sectors have been quite eye-catching, and the heat of the Bitcoin ecosystem, especially Bitcoin L2, is also high. Among them, "Merlin" and "Babylon" are the two most attention-grabbing star projects.
The former's staking craze has swept through the entire crypto field, attracting a large influx of funds, and a batch of projects with tenfold or even dozens of times growth have emerged in its ecosystem; the latter announced this week that it has received investment from Binance and has launched a testnet based on BTC Signet, becoming the new favorite of Web3ers (recommended reading: "The 'South-to-North Water Diversion' of the crypto world? How does Babylon introduce the security of Bitcoin into PoS through BTC original chain staking?").
"QnA3.AI" officially launched the airdrop claiming and was listed on exchanges such as Bitget after the previous airdrop announcement; in addition, "PYTH" continued to be strong, once breaking through $0.8 USDT, setting a new all-time high, and has also been listed on Bithumb's Korean won trading pair.
However, if we were to discuss the most eye-catching token in terms of recent price increases, it would be "AR", which has steadily risen from $4 USDT to over $30 USDT since October 2023, an increase of nearly 800%. The newly launched supercomputer AO has also attracted market attention, and its subsequent development is worth deep attention.
"STRK" has shown relatively weak performance after being listed on exchanges last week, fluctuating below $2, but as mentioned last week, Foresight News also attempted to find patterns in the performance of OP and ARB tokens, both of which are also in the Layer2 track, from Wintermute's market-making participation—OP and ARB fell within 10 to 20 days after opening, then fluctuated up and down, and experienced significant increases after multiple small peaks (see "Should you sell STRK? Finding inspiration from Wintermute's market-making style").
Finally, the popularity of the point-based airdrop system in recent months and the prosperous development of pre-airdrop incentive plans have also led to a surge in pre-market trading demand, driving exchanges such as "Aevo" to provide perpetual futures for tokens that have not yet been issued, which is undoubtedly a track worth long-term attention, and it is not ruled out that it will produce giants with enough influence to affect the market landscape.
In this week's Mirror hot search list, "Babylon", "airdrop", and internal hot search linkage, in terms of author rankings, the proportion of airdrop tutorial-related content has decreased:
- KeplrX.nft (project introduction)
- joy (airdrop tutorial)
- 0xoooooyoung (airdrop tutorial)
- holmberg15a.eth (industry observation)
- 0xa9fC (airdrop tutorial)
- deficryptovaults.eth (industry observation)
- guowenshuai.eth (airdrop tutorial)
- MAP Protocol (project introduction)
- Tomorrowland (project introduction)
- axtrur.eth (industry observation)
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