Bitget Research Institute: Bitcoin stood at $58,000 after CPI was lower than expected. The Federal Reserve is likely to announce a rate cut next week

In the past 24 hours, many new popular currencies and topics have appeared in the market, which may be the next opportunity to make money, including:

• Sectors with strong wealth-creating effects are: DeFi blue chips (PENDLE, AAVE);

• The most popular tokens and topics among users are: Fractal Bitcoin, Polymarket, DOGS;

• Potential airdrop opportunities include: Polymarket, Solayer;

Data statistics time: September 12, 2024 4: 00 (UTC + 0)

1. Market environment

Yesterdays CPI data was lower than market expectations, and it is basically certain that a 25 basis point interest rate cut has become a high probability event. The top crypto assets have stopped falling and rebounded slightly. The main traders in the market are waiting for the Feds interest rate decision meeting next week. The first interest rate cut after the Fed has maintained high interest rates will have a greater impact on the market. It is expected that the market volatility will increase significantly next week.

In terms of ETFs, Bitcoin ETF had a net outflow of US$43 million yesterday, and Ethereum ETF had a net outflow of US$5 million yesterday, reflecting that market participants as a whole are still cautious about the market, and the market is unable to form continuous net inflows or net outflows.

In terms of crypto ecology, the computing power of Bitcoin has soared after its launch. This ecology has attracted widespread discussion and attention in the industry. Investors are advised to pay close attention to the subsequent development of the project.

2. Wealth-creating sector

1) Sector changes: DeFi blue chip sector (AAVE, PENDLE)

main reason:

The DeFI blue chip sector as a whole has shown strong resilience, largely because DeFi blue chip projects still play an important ecological role in the volatile market, and through continuous development and operation, the data performance of all aspects of its protocol is relatively good. The AAVE protocol has recently continued to break new highs in user activity, and its revenue has also grown steadily. Pendles current layout of a large LSD has achieved obvious results, and further layout of BTCFi will bring considerable growth to its future revenue.

Rising situation:

AAVE and PENDLE have risen by 13.5% and 28.1% respectively in the past 7 days;

Factors affecting the market outlook:

• Total asset size of the protocol: The cash flow output of this type of protocol mainly depends on the asset size of the protocol. As the asset size accommodated by the protocol gradually increases, the income that the protocol can generate will also gradually increase, and the corresponding currency price will also have a strong performance.

• Project product updates: AAVE previously updated its token economy and introduced a buyback mechanism. This behavior may cause other DeFi projects to follow suit. It is recommended to continue to pay attention to product updates of DeFi projects. If there is news about favorable tokens, trading opportunities often arise.

2) Sectors that need to be focused on in the future: Solana Meme assets (BEER, WIF, POPCAT)

main reason:

The price of SOL rebounded, the panic over ecological assets eased, and liquidity showed signs of temporary improvement, driving the overall ecological assets up;

Specific currency list:

• BEER: Solana ecosystems Meme coin. The contract data shows that there is obvious capital inflow. The inflow of hot money has amplified volatility, and the upward trend may continue.

• WIF: Solana ecosystem’s Meme coin, previously listed on Robinhood. The SOL token rises, and generally Solana’s top MEME coins rise faster;

• POPCAT: The core meme coin on Solana, with a continuously high trading volume, a year-to-date increase of more than 50 times, and a relatively stable token price;

3. User Hot Searches

1) Popular Dapps

Fractal Bitcoin

Fractal Bitcoin is a project that is expanding the capacity of the Bitcoin network, gradually expanding the scalability of the Bitcoin blockchain. The verification mechanism is POW, and the encryption method is sha 256 d. It is a blockchain network similar to BTC. The Unisat wallet can support the main network switch, and ASIC machines are required to participate in network verification. The current network computing power is 260 EH/s, and it is supported by well-known mining pools such as Antpool, F 2 POOL, and Spiderpool. Ecological projects such as CAT 20 are quite popular and have received media exposure. The community pays more attention to it, so you can continue to pay attention to it.

2) Twitter

AAVE（Token）

This week, Aave announced that it has deployed the ether.fi weETH dedicated market on the chain, and users can now borrow stablecoins through weETH. Ethereum networks DeFi projects AAVE, UNI and others performed well in the secondary market this week. Judging from the on-chain data, AAVE and UNI have whales gradually building positions and buying. Vitaliks associated address deposited 950 ETH and 2.28 million USDC to Aave in the past 24 hours, expressing support for the AAVE project. AAVE has a good performance in the secondary market, with a cumulative increase of more than 50% in the past month. The trend is relatively stable and can be continued.

3) Google Search Region

• From a global perspective:

Polymarket:

Polygmarket is a project that does prediction market. All prediction events are initiated by the community. Users can participate in the prediction and get corresponding rewards if the prediction is correct. Yesterday, Trump and Harris held a presidential debate on TV. The market believes that Harris performed better than Trump. Polymarket shows that Harriss probability of being elected president has surpassed Trump. Since the market believes that Trump is an obviously crypto-friendly president, it may be helpful to pay attention to Polygmarkets data.

• From the hot searches in each region:

(1) Telegram Bot has become the main focus in Africa, CIS and other regions. The hot search items include Dogs and Blum. The countries where related hot searches appear include Russia, Vietnam and Ukraine.

(2) Hot searches in Europe and the United States are scattered, but the main focus is on fundamental/old projects, including: XRP, AKT, INJ, Glass, KAS and other projects;

Potential Airdrop Opportunities

Polymarket

Polygmarket is a project that runs a prediction market. All prediction events are initiated by the community. Users can participate in the prediction and receive corresponding rewards if the prediction is correct.

The centralized prediction market Polymarket has completed two rounds of financing totaling US$70 million. The most recent round was led by Founders Fund, which completed a US$40 million Series B financing and a US$25 million Series A financing in 2023 and 2022, respectively.

The specific participation method is: There is currently no public way to participate in the airdrop. According to the communitys speculation, it is recommended that users first register an account, bind a wallet, deposit USDC through the Polygon network, and participate in predictions to participate in the projects airdrop opportunities.

Solayer

Solayer is building a restaking network on Solana. Solayer leverages its economic security and quality execution as a decentralized cloud infrastructure to enable higher degrees of consensus and blockspace customization for application developers.

In July 2024, Solayer announced the completion of the builder round of financing, and the specific investment amount was not disclosed. Investors include Binance labs, Solana Labs co-founder Anatoly Yakovenko, Solend founder Rooter, Tensor co-founder Richard Wu, etc.

Specific participation method: You can stake SOL and SOL LST (jitoSOL, mSOL, bSOL, INF) supported by some projects to obtain points for each Epoch. Currently, the main network is open, and staking SOL can obtain sSOL and platform points.

Original link: https://www.bitget.fit/zh-CN/research/articles/12560603815563

【Disclaimer】The market is risky, so be cautious when investing. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions in this article are suitable for their specific circumstances. Investing based on this information is at your own risk.