Bitget Research: Crypto Sector Rotation Cycle Shortens, ARB Takes Over as OP Rally Ends

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:

BIBLE (Token) — Raptor, a newly launched memecoin on the Ethereum chain with the Raptor theme. It had over 5000 on-chain transactions and a trading volume of US$8 million in the past 24 hours. However, there is a risk of external contract calls. Caution is advised.

PSYOP (Token) — A memecoin launched by Ben.eth. The day before yesterday, Elon Musk tweeted an emoji related to PSYOP. Despite no connection to Ben.eth’s token, the emoji drove immense traffic. The speculative hype resulted in a 20x increase for the token within a day. As the hype cooled down, the token’s value fell by over 50% yesterday.

ARB (Token) — In the Layer 2 sector, the hype is rotating among top projects. After the hype around OP ended, ARB’s value surged by +10% today. A few famous projects in the ARB ecosystem also saw significant increases, with MAGIC leading the rally.

XEN (Token, DApp) — Jack Levin, the founder of XEN, is about to launch the XN chain, but only Minters of VMPX can receive the XN airdrop. This has caused dissatisfaction within the community, leading to a massive sell-off of VMPX, causing its price to plummet by more than 30% over the weekend. However, it rebounded on Monday and Tuesday, with the price rising for two consecutive days.

Ethernal Inscriptions (Token) — An ERC-20 standard token that offers free mint on Mint.fun. The token has high minting popularity, with social media sentiments like “everyone is minting these inscriptions, and we don’t even know what they are. I’ll mint a couple just in case (to avoid missing out on potential massive wealth effects)”.

TWEETY (Token) — A memecoin themed around the cartoon character Tweety on the Ethereum chain. After experiencing a significant increase over two days, the token’s value plummeted by 60%. There’s no apparent risk associated with its contract, but it should be noted that the lifespan of memecoins has been increasingly short in recent times.

2.Popular NFTs:

Guild Pin (NFT) — One of the requirements in the Linea Voyage Quest promotion is the verification of being a Guild Pin Holder. Users mint the NFT at https://guild.xyz/linea to earn 2500 points in the Linea Voyage Quest.

zkBridge on opBNB (NFT) — opBNB has already been launched on zkBridge. The opBNB network is a Layer 2 extension solution for the BNB smart chain, supported by the bedrock version of Optimism’s opStack. Users can claim 5 “zkBridge on opBNB” NFTs on each sender chain at https://zkbridge.com/nft-faucet/opbnb.

Mainnet Alpha (NFT) — The minting process of the Polygon version of zkBridge’s Mainnet Alpha NFT is set to end in 3 days, with over 240,000 addresses having participated so far. This NFT can be minted for free on the zkBridge NFT Faucet. https://zkbridge.com/nft-faucet/mainnet-alpha-2

The Nifty (NFT, DApp) — https://www.thenifty.com/ is a platform that provides daily information on free mint NFTs. By subscribing with an email address on the platform, users can receive a 2-minute free NFT daily newsletter.

3.Popular DApps:

DeFi Kingdoms (DApp) — An airdrop-seeking influencer tweeted a tutorial titled “Only spend a cost of 2U to gain 40 interactions”, which involves the GameFi — DeFi Kingdoms DApp. This has led to a continuous increase in interaction volume with DeFi Kingdoms recently.

zkSync Era (DApp) — Currently, the zkSync Era network has reached 1,045,562 unique wallets. Yesterday, Matter Labs, the company behind the zkSync Era blockchain, launched a software development toolkit (SDK) named ZK Stack. This will allow developers to create new “hyperchains” based on the zkSync Era’s codebase.

OKX Web3 Wallet (DApp) — Blockchain security organization CertiK has completed the security audit for the BRC-20 token standard established by OKX. This will help OKX better integrate BRC-20 token technology into its platform.

Zora (DApp) — Zora is a significant NFT release and a commemorative NFT Free Mint platform within the NFT market. The project has assisted numerous project owners and influencers with NFT releases and has a certain reputation within the community. The NFT designs are quite exquisite and have caught the attention of many artists.

Slingshot (DApp) — Previously known as Dex.AG, Slingshot completed a US$3.1 million financing round in October 2020 and has since raised a total of US$18.1 million in financing from well-known VCs such as Ribbit Capital, Framework, IDEO, and Coinbase. The project is a Layer 2-focused DEX that has not launched its own token. Its Similarweb monthly visit count is 159,000, mainly from countries/regions like Russia, the United States, and Ukraine.

4.Twitter Hot Topics:

DIONE (Token) — The Dione Protocol is the world’s first L1 blockchain supported by renewable energy, committed to creating its own renewable energy market. Its mission is to democratize energy trading using L1 blockchain technology. Currently, it has launched the Odyssey testnet and launched the Fomo Week III. It frequently runs marketing promotions and its advertisement on the homepage of DexTools has gained a significant amount of attention.

BCH (Token) — EDX, a cryptocurrency exchange backed by renowned US institutions like Fidelity, Citadel, and Charles Schwab, supports trading in BTC, ETH, LTC, and BCH. This has particularly boosted investor confidence in BCH. Over the past four days, the price of BCH has surged by over 107%, and the 24-hour trading volume has reached US$1.43 billion, indicating high popularity.

5.Regional Trending Searches:

Bitcoin (Token) — Bitcoin continues to hold above the critical level of US$30,000, with a price of US$30,323, remaining steady over the past 24 hours. The market focus is centered on the expiration of the quarterly options this Friday. Currently, the price of Bitcoin is relatively stable, with a slight predominance of short positions over long positions.

Main Body

Written by: Bitget Research

Data collection time: June 27, 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

WHEE (BRC-20 Token) — A popular token on the BRC-20 chain with a Sledge Dog theme. The trading volume remains high currently, with US$90,000. In the past 24 hours, it has had 52,000 transactions, with 3471 holders.

OXBT (BRC-20 Token) — A BRC-20 token issued by influencer @BitGod, distributed through multiple communities, influencer whitelist + public free mint methods. After the launch, the number of holders quickly reached nearly 20,000. Its current daily trading volume is US$90,000.

2.Blockchain Profile — ETH Chain

2.1 User Profile

2.1.1 Core Data

• Total active users of ETH: 407,760
• New active users of ETH: 90,036, with a daily increase of 10.21%
• Existing active users of ETH: 317,724, with a daily increase of 12.58%

2.1.2 New User Profile

• Core data: There were a total of 90,036 new active users on ETH yesterday, with a daily increase of 10.21%
• Popular Sectors

• Popular Projects

zkSync Era (DApp) — Currently, the zkSync Era network has reached 1,045,562 unique wallets. Yesterday, Matter Labs, the company behind the zkSync Era blockchain, launched a software development toolkit (SDK) named ZK Stack. This will allow developers to create new “hyperchains” based on the zkSync Era’s codebase.

Ethernal Inscriptions (Token) — An ERC-20 standard token that offers free mint on Mint.fun. The token has high minting popularity, with social media sentiments like “everyone is minting these inscriptions, and we don’t even know what they are. I’ll mint a couple just in case (to avoid missing out on potential massive wealth effects)”. https://mint.fun/ethereum/0xa3c66393049fab4830c330dfe658f94a4de0a122

OKX Web3 Wallet (DApp) — Blockchain security organization CertiK has completed the security audit for the BRC-20 token standard established by OKX. This will help OKX better integrate BRC-20 token technology into its platform.

2.1.3 Existing User Profile

• Core data: The number of ETH active existing users is 317,724, with a daily increase of 12.58%
• Popular Sectors

• Popular Projects

Zora (DApp) — Zora is a significant NFT release and a commemorative NFT Free Mint platform within the NFT market. The project has assisted numerous project owners and influencers with NFT releases and has a certain reputation within the community. The NFT designs are quite exquisite and have caught the attention of many artists.

2.2 Popular Trading Pairs

2.2.1 Uniswap V2

BIBLE (Token) — Raptor, a newly launched memecoin on the Ethereum chain with the Raptor theme. It had over 5000 on-chain transactions and a trading volume of US$8 million in the past 24 hours. However, there is a risk of external contract calls. Caution is advised. https://www.dextools.io/app/en/ether/pair-explorer/0x7a310bd97b5b6b59470e4041769127735545058a

TWEETY (Token) — A memecoin themed around the cartoon character Tweety on the Ethereum chain. After experiencing a significant increase over two days, the token’s value plummeted by 60%. There’s no apparent risk associated with its contract, but it should be noted that the lifespan of memecoins has been increasingly short in recent times. https://www.dextools.io/app/en/ether/pair-explorer/0xb780f89d37864492a81c7b0053879486d259f16c

2.2.2 Uniswap V3

PSYOP (Token) — A memecoin launched by Ben.eth. The day before yesterday, Elon Musk tweeted an emoji related to PSYOP. Despite no connection to Ben.eth’s token, the emoji drove immense traffic. The speculative hype resulted in a 20x increase for the token within a day. As the hype cooled down, the token’s value fell by over 50% yesterday.

3.Blockchain Profile — BSC Chain

3.1 User Profile

3.1.1 Core Data

• Total active users on BSC: 1,264,568
• New active users on BSC: 158,658, with a daily increase of 2.07%
• Existing active users on BSC: 1,105,910, with a daily increase of 0.18%

3.1.2 New User Profile

• Core data: There were a total of 158,658 new active users on BSC yesterday, with a daily increase of 2.07%
• Popular Sectors

• Popular Projects

Guild Pin (NFT) — One of the requirements in the Linea Voyage Quest promotion is the verification of being a Guild Pin Holder. Users mint the NFT at https://guild.xyz/linea to earn 2500 points in the Linea Voyage Quest.

3.1.3 Existing User Profile

• Core data: The number of BSC active existing users is 1,105,910, with a daily increase of 0.18%
• Popular Sectors

• Popular Projects

zkBridge on opBNB (NFT) — opBNB has already been launched on zkBridge. The opBNB network is a Layer 2 extension solution for the BNB smart chain, supported by the bedrock version of Optimism’s opStack. Users can claim 5 “zkBridge on opBNB” NFTs on each sender chain at https://zkbridge.com/nft-faucet/opbnb.

3.2 Popular Trading Pairs

3.2.1 PancakeSwap V2

FTC (Token) — FTC is suspected to be a circle of schemes project, adopting a co-market maker model where users add LP to join in market-making. Its current on-chain liquidity exceeds US$40 million. Contract checks have not revealed any apparent issues. Those interested in speculative trading should participate cautiously and pay attention to risk control.

4.Blockchain Profile — Polygon Chain

4.1 User Profile

4.1.1 Core Data

• Total active users on Polygon: 396,845
• New active users on Polygon: 88,800, with a daily increase of 1.15%
• Existing active users on Polygon: 308,045, with a daily increase of 5.17%

4.1.2 New User Profile

• Core data: There were a total of 88,800 new active users on Polygon yesterday, with a daily increase of 1.15%
• Popular Sectors

• Popular Projects

XEN (Token, DApp) — Jack Levin, the founder of XEN, is about to launch the XN chain, but only Minters of VMPX can receive the XN airdrop. This has caused dissatisfaction within the community, leading to a massive sell-off of VMPX, causing its price to plummet by more than 30% over the weekend. However, it rebounded on Monday and Tuesday, with the price rising for two consecutive days.

Mainnet Alpha (NFT) — The minting process of the Polygon version of zkBridge’s Mainnet Alpha NFT is set to end in 3 days, with over 240,000 addresses having participated so far. This NFT can be minted for free on the zkBridge NFT Faucet. https://zkbridge.com/nft-faucet/mainnet-alpha-2

4.1.3 Existing User Profile

• Core Data: The number of Polygon active existing users is 308,045, with a daily increase of 5.17%
• Popular Sectors

• Popular Projects

The Nifty (NFT, DApp) — https://www.thenifty.com/ is a platform that provides daily information on free mint NFTs. By subscribing with an email address on the platform, users can receive a 2-minute free NFT daily newsletter.

4.2 Popular Trading Pairs

4.2.1 Uniswap V3

agEUR (Token) — Backed by Angle Protocol, agEUR is a capital-efficient, decentralized, and over-collateralized stablecoin protocol. (Earlier on June 4, Stargate voted to pass the proposal of supporting Circle’s Euro-pegged stablecoin, EUROC.)

5.Blockchain Profile — Arbitrum Chain

5.1 User Profile

5.1.1 Core Data

• Arbitrum Active Users: 190,456
• Arbitrum New Active Users: 36,319, with a daily increase of 3.31%
• Arbitrum Existing Active Users: 154,137, with a daily increase of 9.74%

5.1.2 New User Profile

• Core data: There were a total of 36,319 new active users on Arbitrum yesterday, with a daily increase of 3.31%
• Popular Sectors

• Popular Projects

Stargate (DApp) — Influenced by the expectation of Layerzero’s token issuance, Stargate’s interaction data remains at a high level. Most users continue to interact in anticipation of Layerzero’s future token issuance opportunity. Stargate continues to rank highly in terms of daily activity on Arbitrum.

5.1.3 Existing User Profile

• Core data: The number of Arbitrum active existing users is 154,137, with a daily increase of 9.74%
• Popular Sectors

• Popular Projects

The leading project of the LayerZero ecosystem, Stargate, was explained earlier in the report.

5.2 Popular Trading Pairs

5.2.1 Uniswap V3

ARB (Token) — In the Layer 2 sector, the hype is rotating among top projects. After the hype around OP ended, ARB’s value surged by +10% today. A few famous projects in the ARB ecosystem also saw significant increases, with MAGIC leading the rally.

6.DApp Ecosystem — All Chains

Stargate was mentioned in the section above.

7.DApp Ecosystem — ETH Chain

Blur (DApp) — Blend, the NFT lending protocol under Blur, has already surpassed a cumulative trading volume of US$1 billion. Additionally, Blend has matched over 70,000 loan transactions.

8.DApp Ecosystem — BSC Chain

Hooked Protocol (DApp) — A Binance Launchpad project and a Web3 education concept. Its AI-like product, Hooked Academy Sensei, will cooperate with OpenCampus to create the learning experience of the future. Currently, the token trading activity is moderate, mainly used by users of its app. Half a month ago, the project announced that its wallet was officially launched, garnering a lot of attention in a short period.

9.DApp Ecosystem — Polygon Chain

Stargate (DApp) — Influenced by the expectation of Layerzero’s token issuance, Stargate’s interaction data remains at a high level. Most users continue to interact in anticipation of Layerzero’s future token issuance opportunity. Stargate continues to rank highly in terms of daily activity on Polygon. This is mainly due to airdrop hunters. During Layer0 cross-chain interaction processes, the gas costs in the “Polygon — Avalanche, Polygon — FTM, BNB — Polygon” cross-chains are relatively lower, boosting Stargate’s UAW data on Polygon.

10.DApp Ecosystem — WAX Chain

UAW of WAX projects fluctuates within the normal range, with no significant changes.

11.DApp Ecosystem — Solana Chain

Chingari (DApp) — Chingari, and GARI Network are leading short video applications and Web3 social networks. The smart currency incentives earned by content creators and consumers exist in the form of cryptocurrency, namely GARI tokens. Similar to other social networks, Chingari app users contribute by posting or participating in content, such as liking, sharing comments, following, being followed, and rewarding their favorite creators, among others.

12.DApp Ecosystem — Arbitrum Chain

WOOFi (DApp) — WOOFi DEX has launched the beta version of on-chain derivatives, with liquidity support provided by the Orderly Network. Users can trade via the order book, with a maximum leverage of 10x.

13.DApp Ecosystem — GameFi Sector Across All Chains

DeFi Kingdoms (DApp) — An airdrop-seeking influencer tweeted a tutorial titled “Only spend a cost of 2U to gain 40 interactions”, which involves the GameFi — DeFi Kingdoms DApp. This has led to a continuous increase in interaction volume with DeFi Kingdoms recently.

14.Gas Fee Consumption — ETH Chain

XEN (Token) was explained earlier in the report.

15.Gas Fee Consumption — BSC Chain

Drip Faucet (DApp) — A project on the BSC chain for “depositing, mining, withdrawing, and selling”. The four pools in the project have a compounding robot that constantly performs compounding strategies, leading to an overvaluation of UAW on the BSC chain. Currently, the project’s token, $DRIP, has a daily trading volume of US$37,900 in the secondary market, indicating relatively low popularity.

16.Gas Fee Consumption — Polygon Chain

BWLD (Token) — Beta WLD (i.e., Worldcoin beta token) has drawn attention due to the relationship between Worldcoin and OpenAI CEO Sam Altman. It remains high in popularity on the Polygon chain.

17.Gas Fee Consumption — Arbitrum Chain

Slingshot (DApp) — Previously known as Dex.AG, Slingshot completed a US$3.1 million financing round in October 2020 and has since raised a total of US$18.1 million in financing from well-known VCs such as Ribbit Capital, Framework, IDEO, and Coinbase. The project is a Layer 2-focused DEX that has not launched its own token. Its Similarweb monthly visit count is 159,000, mainly from countries/regions like Russia, the United States, and Ukraine.

18.Twitter Trends Token Top 20

DIONE (Token) — The Dione Protocol is the world’s first L1 blockchain supported by renewable energy, committed to creating its own renewable energy market. Its mission is to democratize energy trading using L1 blockchain technology. Currently, it has launched the Odyssey testnet and launched the Fomo Week III. It frequently runs marketing promotions and its advertisement on the homepage of DexTools has gained a significant amount of attention.

BCH (Token) — EDX, a cryptocurrency exchange backed by renowned US institutions like Fidelity, Citadel, and Charles Schwab, supports trading in BTC, ETH, LTC, and BCH. This has particularly boosted investor confidence in BCH. Over the past four days, the price of BCH has surged by over 107%, and the 24-hour trading volume has reached US$1.43 billion, indicating high popularity.

19.Google Trends — Global

Bitcoin (Token) — Bitcoin continues to hold above the critical level of US$30,000, with a price of US$30,323, remaining steady over the past 24 hours. The market focus is centered on the expiration of the quarterly options this Friday. Currently, the price of Bitcoin is relatively stable, with a slight predominance of short positions over long positions.

20.Google Trends Surge — East Asia, South Asia, Southeast Asia, Hong Kong, Macau, and Taiwan

a) South Asia Region

India Trending Tokens: lina, dtup

Pakistan Trending Keywords: cryptoflare, crypto bubbles, crypto news today, pepe

b) Southeast Asia Region

Indonesia Trending Keywords: pi

Thailand Trending Tokens: crypto bubble

Philippines Trending Tokens: cro, eth

Vietnam Trending Keywords: crypto fundraising, lacing, coinmarketcap

c) East Asia and Hong Kong, Macau, and Taiwan

Trending Keywords: ivs, boon

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

a) CIS Region

Trending Keywords: airdrop crypto, index crypto, crypto pro

b) English-speaking Countries

Australia Trending Tokens: ada, hex, casper

USA Trending Tokens: inx

Canada Trending Tokens: hex, xrp, gmx

c) Europe

Spain Trending Tokens: op, xlm, sol, rune, alu, btc

France Trending Tokens: jasmy, magic, lever, trx, mica, uco, ladys

Germany Trending Tokens: tron

Italy Trending Tokens: ustc, bch, btc, srm

Poland Trending Tokens: luna

Turkey Trending Keywords: pribu, crypto trojan, coinbase

22.Google Trends Surge — Middle East, Latin America, Africa

a) Africa

Nigeria Trending Keywords: kraken crypto, best crypto trading platform

South Africa Trending Keywords: crypto banter, xrp price usd, bitcoin price usd, berry crypto trading platform login

b) Middle East

Trending Tokens: pepe, btc

c) Latin America

Brazil Trending Tokens: xen, eth

Mexico Trending Keywords: axs crypto

Argentina Trending Tokens: near, ftm, matic

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