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Bitget Research: Crypto Market Shows Weakness After Initial Rise, TIP Continues to Surge After Secondary Market Launch
Bitget Research
2023/09/19
the past 24 hours, there have been many new popular tokens and topics emerging in the market, and perhaps they could be the next market spotlight.
In Summary:
1.Popular Tokens:
$sats, ORDI (BRC-20 Token) - A large quantity of BRC-20 $sats have been minted, with the minting process surpassing 94%. This event has spurred ORDI to rise for two consecutive days. The BRC-20 ecosystem may regain focus and experience hype.
TIP (Token) - Tip Coin, a popular SocialFi project, has launched. 40% of the TIP's total supply is allocated for airdrops, with 15% designated for liquidity provision and another 15% for airdrops during the Epoch 1 phase. During the Epoch 2 phase, 20% of tokens are reserved for airdrops, and in the Epoch 3 phase, 5% of tokens are earmarked for airdrops. Currently, TIP has an active liquidity pool on-chain, with a total of 4876 transactions and US$2.70 million in trading volume within the past 15 hours. Several centralized exchanges, including Bitget and Mexc, have announced plans to list TIP.
2.Popular NFTs:
Layer3 (NFT) - Issued on the Polygon chain, the Layer3 project's NFT currently has nearly 420,000 holders. For users to participate in the latest task and secure a commemorative edition ONFT, they must have previously transacted on LayerZero and engaged in retweeting.
3.Popular DApps:
Bitget Swap (DApp) - A decentralized Web3 swap product integrated within the centralized Bitget platform. It enables immediate trading of popular on-chain tokens that have not yet been listed on centralized exchanges. The aim is to further enhance the user trading experience and meet various DeFi needs of users.
Post.Tech (DApp) - A Web3 social network hosted on Arbitrum, where individual profiles become assets and interactions convert into profit. The total reward for the #1 Epoch is US$100,000, which will be distributed to early contributors on the official launch day. The project has garnered significant attention and engagement on social media due to the anticipated airdrop.
Banana Gun (DApp) - The project is a TG Bot that helps users trade on DEXs, with two core features: "Sniper" (rapidly purchasing newly listed memes upon market opening) and "Quick Trade." Both features have "anti-rug" and "
MEV protection" functionalities to protect investors, with fees of 0.85% and 0.5%. Looking at the roadmap, future updates will include features such as automatic profit-taking, Telegram scraper, multi-chain support, and copytrading. After its launch, the BANANA token experienced a positive uptrend, with a current market cap of US$122 million.
Magic Eden (DApp) - Magic Eden added support for cNFT (Composable NFT) on September 15. It's reported that cNFT is an innovative NFT exclusive to Solana, with the "c" signifying "composable", which makes the production cost just a fraction of traditional NFTs.
op
BNB (DApp) - The opBNB mainnet, based on the OP Stack, officially launched on September 13. In the future, it will focus on enhancing the network's resilience and decentralization through features like proof enhancement, account abstraction, data availability with BNB Greenfield, interoperability with BNB Greenfield, and decentralized sequencer.
4.Twitter Hot Topics:
VEXT (Token) - Veloce, headquartered in London, composed of the gaming and racing platform Veloce Esports and the winning team Veloce Racing, has recently locked over 1 million $VEXT tokens (worth over $500,000) into a locking contract provided by Flokifi in China, with a minimum lock duration of 3 months.
APE (Token) - ApeCoin DAO currently has over 70% support for proposal AIP-297, which aims to establish a sister DAO and an NFT community treasury. The AIP-297 proposal, co-written by Animoca Brands co-founder Yat Siu in July, aims to "position ApeCoin as a cultural token to power a broader Web3 ecosystem". The proposal suggests obtaining a budget of 750,000 APE from the ApeCoin DAO treasury, with 500,000 APE reserved for purchasing NFTs that align with ApeCoin's vision and values across various marketplaces, and an allocation of 250,000 APE reserved for future NFT purchases and initial treasury maintenance.
5.Regional Trending Searches:
Avalanche (DApp) - Recently, Avalanche has intensified its promotional outreach. Neowiz plans to develop games on the Avalanche
blockchain through its Web3 division, Intella X. Furthermore, Intella X has joined the Web3 gaming education program, Avalanche Ar
cad3. However, the Avalanche token has recently shown an average price performance, seeing a 1.82% drop on the 7-day chart.
Main Body
Written by: Bitget Research
Data collection time: September 19, 10:30
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)
1.BTC Profile - BRC-20
$sats, ORDI (BRC-20 Token) - A large quantity of BRC-20 $sats have been minted, with the minting process surpassing 94%. This event has spurred ORDI to rise for two consecutive days. The BRC-20 ecosystem may regain focus and experience hype.
2.Blockchain Profile - ETH Chain
2.1 User Profile
2.1.1 Core Data
Total active users on ETH: 377,157
New active users on ETH: 71,860, with a daily increase of 2.99%
Existing active users on ETH: 305,297, with a daily increase of 9.66%
2.1.2 New User Profile
Core data: There were a total of 71,860 new active users on ETH yesterday, with a daily increase of 2.99%
Popular Sectors
Popular Projects
Banana Gun (DApp) - The project is a TG Bot that helps users trade on DEXs, with two core features: "Sniper" (rapidly purchasing newly listed memes upon market opening) and "Quick Trade." Both features have "anti-rug" and "MEV protection" functionalities to protect investors, with fees of 0.85% and 0.5%. Looking at the roadmap, future updates will include features such as automatic profit-taking, Telegram scraper, multi-chain support, and copytrading. After its launch, the BANANA token experienced a positive uptrend, with a current market cap of US$122 million.
2.1.3 Existing User Profile
Core data: The number of ETH active existing users is 305,297, with a daily increase of 9.66%
Popular Sectors
Popular Projects
TipClaims (DApp) - Tip Coin, a popular SocialFi project, has launched. 40% of the TIP's total supply is allocated for airdrops, with 15% designated for liquidity provision and another 15% for airdrops during the Epoch 1 phase. During the Epoch 2 phase, 20% of tokens are reserved for airdrops, and in the Epoch 3 phase, 5% of tokens are earmarked for airdrops.
2.2 Popular Trading Pairs
2.2.1 Uniswap V2
TIP (Token) - Tip Coin, a popular SocialFi project, has launched. 40% of the TIP's total supply is allocated for airdrops, with 15% designated for liquidity provision and another 15% for airdrops during the Epoch 1 phase. During the Epoch 2 phase, 20% of tokens are reserved for airdrops, and in the Epoch 3 phase, 5% of tokens are earmarked for airdrops. Currently, TIP has an active liquidity pool on-chain, with a total of 4876 transactions and US$2.70 million in trading volume within the past 15 hours. Several centralized exchanges, including Bitget and Mexc, have announced plans to list TIP. https://www.dextools.io/app/en/ether/pair-explorer/0xeb1b2622e07bcf5362b6f735e182e54e9bc75ba
2.2.2 Uniswap V3
No popular new projects on Uniswap V3 recently.
3.Blockchain Profile - BSC Chain
3.1 User Profile
3.1.1 Core Data
Total active users on BSC: 1,075,223
New active users on BSC: 161,870, with a daily increase of 22.58%
Existing active users on BSC: 913,353, with a daily increase of 9.47%
3.1.2 New User Profile
Core data: There were a total of 161,870 new active users on BSC yesterday, with a daily increase of 22.58%
Popular Sectors
Popular Projects
TinyTap (DApp) - A decentralized education platform supported by Animoca Brands. Established in 2012, TinyTap is a tech startup based in Tel Aviv, Israel that focuses on user-generated content (UGC). As a specific technology in the trading sector, Tiny Tap will participate in the ISTE Live23 conference and earlier established a US$10 million Global Educators Fund, gaining considerable interest in the community.
Pandra (NFT) - Pandra is conducting a cross-chain event for its NFT series, allowing interactions on both zkBridge and LayerZero. The NFT activity has seen increased transactions, likely due to airdrop enthusiasts participating.
3.1.3 Existing User Profile
Core data: The number of BSC active existing users is 913,353, with a daily increase of 9.47%
Popular Sectors
Popular Projects
opBNB (DApp) - The opBNB mainnet, based on the OP Stack, officially launched on September 13. In the future, it will focus on enhancing the network's resilience and decentralization through features like proof enhancement, account abstraction, data availability with BNB Greenfield, interoperability with BNB Greenfield, and decentralized sequencer.
3.2 Popular Trading Pairs
3.2.1 PancakeSwap V2
RWT (Token) - RevaLink Wallet Token, rumored to be associated with a financial pyramid scheme promoted by Hua Ying Hui. The on-chain liquidity, the 24-hour trading volume and the transaction count are all remarkable. The token price has experienced a continuous sharp decline after an initial rapid increase. There are over 580,000 token holders on-chain, but the risk is high due to significant chip concentration, with the top 6 addresses holding 99% of the chips.
4.Blockchain Profile - Polygon Chain
4.1 User Profile
4.1.1 Core Data
Total active users on Polygon: 368,784
New active users on Polygon: 86,129, with a daily increase of 32.09%
Existing active users on Polygon: 282,655, with a daily decrease of 2.80%
4.1.2 New User Profile
Core data: There were a total of 86,129 new active users on Polygon yesterday, with a daily increase of 32.09%
Popular Sectors
Popular Projects
Layer3 (NFT) - Issued on the Polygon chain, the Layer3 project's NFT currently has nearly 420,000 holders. For users to participate in the latest task and secure a commemorative edition ONFT, they must have previously transacted on LayerZero and engaged in retweeting. https://opensea.io/collection/layer3
4.1.3 Existing User Profile
Core Data: The number of Polygon active existing users is 282,655, with a daily decrease of 2.80%
Popular Sectors
Popular Projects
Lens Protocol (DApp) - A Web3 social protocol on Polygon. Recently, the hype around social protocols has been high. Despite its longer history, Lens Protocol's token distribution schedule remains undecided, leading to a current UAW level of only 2500. Its momentum in the social sector has been significantly overshadowed by Friend.tech hosted on the Base chain.
4.2 Popular Trading Pairs
4.2.1 Uniswap V3
No new popular tokens have appeared on Polygon.
5.Blockchain Profile - Arbitrum Chain
5.1 User Profile
5.1.1 Core Data
Total Active Users on Arbitrum: 119,627
New Active Users on Arbitrum: 24,109, with a daily increase of 21.03%
Existing Active Users on Arbitrum: 95,518, with a daily increase of 5.04%
5.1.2 New User Profile
Core data: There were a total of 24,109 new active users on Arbitrum yesterday, with a daily increase of 21.03%
Popular Sectors
Popular Projects
The Graph (DApp) - At the end of August, The Graph community decided to expand through Arbitrum, aiming to enhance The Graph's accessibility within the Web3 ecosystem and reduce Gas costs. With the release of new L2 transfer tools, The Graph's core development team has entered the third phase of the Arbitrum expansion. These tools are designed to simplify the process of moving subgraphs, signals, stakes, or delegations to Arbitrum One, enabling all participants in The Graph ecosystem to efficiently and effortlessly engage with The Graph on L2.
5.1.3 Existing User Profile
Core data: The number of Arbitrum active existing users is 95,518, with a daily increase of 5.04%
Popular Sectors
Popular Projects
Post.Tech (DApp) - A Web3 social network hosted on Arbitrum, where individual profiles become assets and interactions convert into profit. The total reward for the #1 Epoch is US$100,000, which will be distributed to early contributors on the official launch day. The project has garnered significant attention and engagement on social media due to the anticipated airdrop. https://twitter.com/PostTechSoFi
Stargate (DApp) - Developed by the LayerZero Labs team, Stargate is a fully composable liquidity transfer protocol and serves as the core of Omnichain DeFi. With Stargate, users and DApps can transfer native assets across 7 chains (with more to come in the future). Recently, due to the impact of Arbitrum airdrop, a large number of users have shown interest in obtaining LayerZero airdrop, leading them to engage with Stargate.
5.2 Popular Trading Pairs
5.2.1 Uniswap V3
No new popular tokens on Arbitrum.
6.Blockchain Profile - Base Chain
6.1 User Profile
6.1.1 Core Data
Total Active Users on Base: 72,523
New Active Users on Base: 17,302, with a daily decrease of 5.51%
Existing Active Users on Base: 55,221, with a daily increase of 5.67%
6.1.2 New User Profile
Core data: There were a total of 17,302 new active users on Base yesterday, with a daily decrease of 5.51%
Popular Sectors
Popular Projects
Friend.Tech (DApp) - After the Folius report pointed out that Friend.Tech protocol revenue no longer accepts VC investments and the only way to obtain tokens is through protocol mining, the project recently experienced its third peak. In just over a month, Friend.Tech's TVL has steadily increased, reaching US$36 million and making it the second-largest project in terms of TVL in the Base ecosystem. https://defillama.com/chain/Base
6.1.3 Existing User Profile
Core data: The number of Base active existing users is 55,221, with a daily increase of 5.67%
Popular Sectors
Popular Projects
Aerodrome (DApp) - A ve(3,3) DEX on Base L2, developed and launched in collaboration with the Velodrome and Base teams. Initially, 40% of the circulating veAERO will be airdropped to veVELO users and locked for 4 years. The TVL grew rapidly after the product went live. It has since experienced a decline from its initial figure, currently standing at US$126 million, still the highest TVL protocol on Base.
7. DApp Ecosystem - All Chains
In the past 24 hours, this sector has not seen any notably popular protocols.
8.DApp Ecosystem - ETH Chain
Bitget Swap (DApp) - A decentralized Web3 swap product integrated within the centralized Bitget platform. It enables immediate trading of popular on-chain tokens that have not yet been listed on centralized exchanges. The aim is to further enhance the user trading experience and meet various DeFi needs of users.
SushiSwap (DApp) - Starting mid-September, SushiSwap has been quite active: 1. SushiSwap v2 AMM will be integrated into the Aptos network. This integration marks Sushi's first collaboration with a non-EVM network, as Sushi aims to promote cross-chain and multi-chain development; 2. Sushi v3 AMM and the built-in DEX aggregator have been deployed on Linea. Users can use Linea's native cross-chain bridge to transfer assets to Linea, as well as trade and add liquidity using Sushi.
9.DApp Ecosystem - BSC Chain
Bitget Swap (DApp) was described earlier in the report.
10.DApp Ecosystem - Polygon Chain
WOOFi (DApp) - A decentralized exchange launched by WOO X. It provides users with the best unilateral passive income and the most powerful cross-chain exchange function. Its main modules include Swap, Earn, Stake, and an order book-style decentralized exchange. The project's most recent audit was in October 2022. According to DeFiLlama data, the current total TVL of WOOFi is over US$22 million, mainly formed by the staking of WOO tokens. The WOO token can now be staked across seven chains, gradually gaining increasing importance in the Arbitrum and LayerZero ecosystems.
11.DApp Ecosystem - WAX Chain
AtomicAssets (DApp) - AtomicAssets is an NFT Marketplace on the
WAX chain. It consistently maintains a high level of activity, with no particular promotions currently.
12.DApp Ecosystem - Solana Chain
Magic Eden (DApp) - Magic Eden added support for cNFT (Composable NFT) on September 15. It's reported that cNFT is an innovative NFT exclusive to Solana, with the "c" signifying "composable", which makes the production cost just a fraction of traditional NFTs.
(ERC-998 standard is named Composable Non-Fungible Token (cNFT). Its design allows any NFT to own other NFTs. When transferring a cNFT, it means transferring the entire hierarchical structure and ownership relationship of the cNFT. Simply put, an ERC-998 item can contain multiple items in the form of ERC-721 and ERC-20.)
13.DApp Ecosystem - Arbitrum Chain
Post.Tech (DApp) was mentioned earlier in the report.
14.DApp Ecosystem - Base Chain
Odos (DApp) - A DEX aggregator that supports one-click token swapping. It has rapidly expanded across several mainstream chains and has over 500 liquidity sources. It maintains high daily activity in Arbitrum and has recently begun focusing on its expansion on Base. Data from @Base_Today on September 9th indicates that Odos Protocol ranked second in trading volume on Base, surpassed only by
Balancer.
15.DApp Ecosystem - GameFi Sector Across All Chains
Recently, there haven't been any popular GameFi projects, making the sector rather desolate.
16.Gas Fee Consumption - ETH Chain
Banana Gun (Token) - The project is a TG Bot that helps users trade on DEXs, with two core features: "Sniper" (targeting newly listed memes) and "Quick Trade." Both features have "anti-rug" and "MEV protection" functionalities to protect investors, with fees of 0.85% and 0.5%. Looking at the roadmap, future updates will include features such as automatic profit-taking, Telegram scraper, multi-chain support, and copytrading. The project has just launched its token. The price is currently surging above US11, with high trading activity.
17.Gas Fee Consumption - BSC Chain
Seg Finance (DApp) - The contract address of the CrazyShoes Mall. It is related to the BRC-20 standard token SEG (Shoe Elimination Game). This token has over 20,000 holders, with 95% of the chips concentrated in one EOA address.
18.Gas Fee Consumption - Polygon Chain
Cointool (DApp) - The contract associated with XEN. XEN has been extremely active on the Polygon chain, quickly becoming one of the top projects in terms of gas consumption. The related minting tool, Cointool_App, also ranks high in gas consumption. Currently, XEN's price is at an all-time low, but there's still over US$1 million in liquidity on-chain. Overal l trading activity is relatively low.
19.Gas Fee Consumption - Arbitrum Chain
Vertex (DApp) - Vertex Protocol, a decentralized trading platform built on Arbitrum, announced that it would initiate the VRTX token generation event in October. On September 8, it announced the upcoming launch of a Liquidity Bootstrapping Auction (LBA). It currently has a daily trading volume of US$65.98 million.
20.Gas Fee Consumption - Base Chain
friend.tech (DApp) - The latest data from the friend.tech "Keys" price leaderboard shows that the platform's founder Racer ranks first with 8.190 ETH; crypto influencer Vombatus ranks second with 5.550 ETH; crypto influencer Hsaka ranks third with 4.865 ETH. Overall, the cumulative protocol fees for friend.tech have surpassed US$20 million.
21.Twitter Trends Token Top Rank
VEXT (Token) - Veloce, headquartered in London, composed of the gaming and racing platform Veloce Esports and the winning team Veloce Racing, has recently locked over 1 million $VEXT tokens (worth over $500,000) into a locking contract provided by Flokifi in China, with a minimum lock duration of 3 months.
APE (Token) - ApeCoin DAO currently has over 70% support for proposal AIP-297, which aims to establish a sister DAO and an NFT community treasury. The AIP-297 proposal, co-written by Animoca Brands co-founder Yat Siu in July, aims to "position ApeCoin as a cultural token to power a broader Web3 ecosystem". The proposal suggests obtaining a budget of 750,000 APE from the ApeCoin DAO treasury, with 500,000 APE reserved for purchasing NFTs that align with ApeCoin's vision and values across various marketplaces, and an allocation of 250,000 APE reserved for future NFT purchases and initial treasury maintenance.
22.Google Trends - Global
Avalanche (DApp) - Recently, Avalanche has intensified its promotional outreach. Neowiz plans to develop games on the Avalanche blockchain through its Web3 division, Intella X. Furthermore, Intella X has joined the Web3 gaming education program, Avalanche Arcad3. However, the Avalanche token has recently shown an average price performance, seeing a 1.82% drop on the 7-day chart.
23.Google Trends Surge - East Asia, South Asia, Southeast Asia, Hong Kong, Macau, and Taiwan
a) South Asia Region
India Trending Keywords:
tether, etherscan, cointelegraph
Pakistan Trending Keywords: coinpayu, coingecko
b) Southeast Asia Region
Philippines Trending Tokens: slp, cro
Singapore Trending Keywords: jpex crypto
Indonesia Trending Keywords: btc, akademi, toko
c) East Asia and Hong Kong, Macau, and Taiwan Trending Tokens and Keywords: jpex
24.Google Trends Surge - English-speaking Countries, Europe, CIS Region
a) CIS Region Trending Keywords: crypto pro
b) English-speaking Countries
Canada Trending Tokens: hex, btc
Australia Trending Tokens: ngs, tron, ton
UK Trending Tokens: btc, eth, koda, link
USA Trending Tokens: acs
c) Europe
Spain Trending Tokens: iota, gq
Germany Trending Keywords: hoss, uni, quant, btc
France Trending Tokens: rlb, sol, bitc, bfm
Italy Trending Tokens: blz, hpt
Turkey Trending Keywords: selcoin, rollercoin, coinmarketcap
25.Google Trends Surge - Middle East, Latin America, Africa
a) Africa
Nigeria Trending Keywords: crypto logo, kraken crypto
South Africa Trending Tokens: eth
b) Middle East Trending Keywords:
crypto news, crypto expo
c) Latin America
Brazil Trending Tokens: link, bomb,
xrp, trx, btc
Argentina Trending Tokens: trx, btc
Mexico Trending Keywords: shib
References
1. Dune Dashboard - Blockchain Profile: https://dune.com/bitgetresearch/bitgetreseach-chains-overview
2. Dune Dashboard - Gas Fee Consumption:
https://dune.com/bitgetresearch/gas-overview
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