Bitget Research: Multichain Suspected to Be Hacked, Crypto Market Plunges in Panic

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:

BILI (BRC-20) — A bilibili concept BRC-20 token initiated by the Chinese project bili_labs. It has a trading volume of US$52,000 and 2334 holders. It is essential to stay updated on BILI.

FERC2.0 (Token) — ETH Fair Distribution Concept, an imitation of BRC20 tokens, falls under the meme 2.0 concept. Currently, there are no significant trading pairs available. It is essential to stay updated on future developments.

SHIB2.0 (Token) — A token with Meme 2.0 concept. Currently, it has 4250 holders, 16,621 on-chain transactions, and a trading volume of US$16.68 million. SHIB2.0 can be traded on Bitget. https://www.dextools.io/app/cn/ether/pair-explorer/0xe1de07566ceb19d2e45b60b491776ab74c9b8d7a

DOGE2.0 (Token) — A token with Meme 2.0 concept. Currently, it has 2821 holders, 6137 on-chain transactions, and a trading volume of US$11.25 million. The price is currently in a downward trend. It is essential to stay updated on this token. https://www.dextools.io/app/cn/ether/pair-explorer/0xd99034942c4a883ff3ed6cda6c91fe505a58eb2e

PEPE2.0 (Token) — This project was created by a major holder who was previously blacklisted by PEPE. It has recently seen a 5x surge, leading to the rise of some memecoins. It has an on-chain liquidity of US$2.08 million, a 24-hour trading volume of US$22.3 million, and 13,874 holders. Contract checks reveal that it has adjustable anti-whale settings. Bitget was the first exchange to list this project among CEXs.

METIS (Token) — The price of METIS on BSC has plummeted by 99%. The Metis official team stated that it had taken snapshots of the METIS holder addresses on the BNB Chain at two points: at the time of Poly Network’s exploit, and at the time of the exploiters’ first sale of exploited METIS. Addresses buying METIS on the BNB Chain after the time of the snapshot will not be recognized. They also advise users not to interact with the METIS token contract on the BNB Chain, as a new contract will be deployed.

W$C (Token) — Positioned as the first decentralized national cryptocurrency driven by smart contracts and based on direct democracy, it shares a similar concept with World coin. Recently, there has been a noticeable uptrend from its bottom. The on-chain liquidity is US$1.1 million, and the 24-hour trading volume is US$1.6 million. Contract checks reveal potential mint function. Recently, trading volume has noticeably increased, making it essential to observe its performance.

yKunji (Token) — A token launched by Kunji Finance, a quantitative strategy pool. Users can invest in different quantitative strategies through the project. The token currently has 13,376 holders. The project is conducting the Early Adopter promotion, expected to end on July 10.

PENDLE (Token) — The price of Pendle surged by 40% after it was listed on Binance, followed by a pullback and a drop below the rally point, indicating sell orders by major profit-takers. Currently, the project’s token price is fluctuating in a narrow range, with an increase of 3.8% today.

VMPX (Token) — The BRC-20 token VMPX, created by XEN’s founder Jack, has consumed over 2000 ETH in gas fees alone since the mint phase began on Ethereum. At present, the number of VMPX ERC-20 token holders has reached 4449. It has an on-chain liquidity of US$780,000 and a 24-hour on- XCNUSDT">chain trading volume of US$2.75 million.

XEN (Token) — XEN’s founder Jack Levin held a community AMA, announcing that VMPX will serve as the bridge between Bitcoin Ethereum and the X1 Blockchain. As the launch of X1 approached, the mint phase for VMPX began on Ethereum. VMPX will also be exchanged for XN tokens at a 1:3 ratio in the future, resulting in a high level of market attention recently. The related on-chain mint arbitrage interactions remain active.

2.Popular NFTs:

No popular NFTs to mention for today.

3.Popular DApps:

Bovada (DApp) — A popular gambling website with Similarweb showing monthly visits of up to 30.5 million, with more than 99% of traffic coming from the United States. It is a casino that combines sports betting, poker, and slot machines. Gambling websites typically have large traffic, and some user demographics align with crypto users.

Tiny Tap (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 has recently established a US$10 million Global Educators Fund, gaining considerable interest in the community.

Playbux (DApp) — Playbux is a metaverse project on the Binance Smart Chain that integrates real-world shops (shop-to-earn), DeFi, NFT, and virtual community promotions. Users can explore the blockchain world (such as PancakeSwap, 1inch, NFT marketplace, mini-games, etc.) within Playbux’s metaverse while also experiencing real-world shopping and getting rebates on the platform. Playbux entered and ranks at the forefront of the on-chain “Top 10 Social-Fi DApps” list based on users’ activity, with 130,000 users over the past 30 days, indicating high popularity.

Phi (DApp) — A social task platform based on ENS and on-chain/off-chain wallet activity, providing a visualization of on-chain identity. Today, it launched the Quest promotion with Mirror, a decentralized media content platform. Up to 10 NFTs can be minted in the promotion, receiving high participation.

ZED RUN (DApp) — A horse racing game that has already launched, with 66,400 followers on Twitter and 167,000 monthly visits according to Similarweb. The majority of visitors are from the United States (48.63%) and the United Kingdom (25.44%). The game is very popular within its community.

LayerZero (DApp) — LayerZero is a cross-chain protocol that facilitates communication between DApps deployed on different blockchains without the need for any intermediary chains or consensus mechanisms. Currently, various contracts utilizing the LayerZero infrastructure have accounted for nearly half of the gas consumption on the Arbitrum chain. This includes NFTs on platforms such as Stargate, Woo, and Holograph.

Manifold (DApp) — A creator platform that allows artists to create NFTs using componentized product releases for smart contracts. It is also a platform for users to mint NFTs. Manifold will expand its Creator toolset to L2, providing users with a lower transaction gas fee experience.

Mobox (DApp) — A cross-chain metaverse gaming platform. After launching MoDragon on Arbitrum, Mobox has seen a boost in traffic. With a total of 7000 Genesis Dragon Eggs matching the current game on Arbitrum, MoDragon allows for nurturing and breeding, making it quite popular.

Magic Eden (DApp) — The largest NFT trading market on Solana, Magic Eden has transitioned to a multi-chain development, including the latest BTC Ordinals NFT. Currently, it still maintains its top active application status within the Solana ecosystem. Magic Eden has had no remarkable promotions recently.

Galxe (DApp) — An on-chain task platform. According to information promoted in its community, Galxe’s native EVM token will be deployed on more chains, including Arbitrum, Optimism, AVAX, Fantom, and Moonbeam, among others.

Zillion AAKAR X0 (DApp) — A token on BSC that has been listed on several non-top-tier exchanges. The token saw a 70% increase in the past 7 days and a 270% increase over the past 30 days. It brands itself as a “utility token that breaks through the boundaries between centralized and decentralized platforms”. It currently has 39,639 holders.

LayerZero (DApp) — LayerZero is a cross-chain protocol that facilitates communication between DApps deployed on different blockchains without the need for any intermediary chains or consensus mechanisms. Currently, various contracts utilizing the LayerZero infrastructure are ranking high in terms of gas consumption on the Arbitrum chain. This includes Stargate and Woo, among others. With a daily interaction count of 390,000, LayerZero is maintaining a high activity rate.

4.Twitter Hot Topics:

APE (Token) — With the recen t price drop of the BAYC series NFTs, reaching a maximum drop of 25% in 7 days, the price of Apecoin has also experienced a decrease. The continuous inflation caused by the release of staked tokens dilutes the value, which exacerbates the negative impact on the price when underlying funds are less active. In the past 24 hours, the APE token has dropped by 10%, reaching a new low since its launch.

FTM (Token) — Assets worth approximately $118 million have been transferred out from Fantom’s Multichain bridge, with the majority consisting of stablecoins. As a result, FTM experienced a temporary decline of over 10%. In response to this, the Fantom Foundation issued a statement clarifying that FTM has never been issued or managed by Multichain. Therefore, wFTM, FTM ERC-20, and FTM on Opera remain unaffected. However, the outflow of stablecoins resulted in a 14% decrease in the on-chain TVL of FTM.

5.Regional Trending Searches:

ETH (Token) — Recently, the ETH/BTC exchange rate experienced a 5% rebound but quickly lost momentum. Overall, altcoins have also seen a notable pullback, indicating relatively weaker trends. Currently, the market is still primarily driven by BTC, while ETH maintains a steady increase in staking rates after the Shanghai upgrade. With the delay of the London hard fork, there is no short-term catalyst driving the market.

SHIB (Token) — A memecoin, Shib experienced a surge during the previous bull market cycle. The token has shown weaker performance compared to the overall market recently, but its trading community remains substantial, providing potential for growth during a bullish market. Additionally, the project is still developing the Shibarium chain, which could drive positive performance in the future. Today, SHIB 2.0 token appeared on-chain and it experienced a massive 700x surge in price. SHIB 2.0 has been listed on Bitget, and users are welcome to trade it.

Main Body

Written by: Bitget Research

Data collection time: July 7, 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

BILI (BRC-20) — A bilibili concept BRC-20 token initiated by the Chinese project bili_labs. It has a trading volume of US$52,000 and 2334 holders. It is essential to stay updated on BILI.

2.Blockchain Profile — ETH Chain

2.1 User Profile

2.1.1 Core Data

Total active users of ETH: 322,626

New active users of ETH: 61,748, with a daily increase of 0.80%

Existing active users of ETH: 260,878, with a daily increase of 11.79%

2.1.2 New User Profile

Core data: There were a total of 61,748 new active users on ETH yesterday, with a daily increase of 0.80%

Popular Sectors

Popular Projects

Key Projects:

Bovada (DApp) — A popular gambling website with Similarweb showing monthly visits of up to 30.5 million, with more than 99% of traffic coming from the United States. It is a casino that combines sports betting, poker, and slot machines. Gambling websites typically have large traffic, and some user demographics align with crypto users.

2.1.3 Existing User Profile

Core data: The number of ETH active existing users is 260,878, with a daily increase of 11.79%

Popular Sectors

Popular Projects

Key Projects:

FERC2.0 (Token) — ETH Fair Distribution Concept, an imitation of BRC20 tokens, falls under the meme 2.0 concept. Currently, there are no significant trading pairs available. It is essential to stay updated on future developments.

2.2 Popular Trading Pairs

2.2.1 Uniswap V2

SHIB2.0 (Token) — A token with Meme 2.0 concept. Currently, it has 4250 holders, 16,621 on-chain transactions, and a trading volume of US$16.68 million. SHIB2.0 can be traded on Bitget. https://www.dextools.io/app/cn/ether/pair-explorer/0xe1de07566ceb19d2e45b60b491776ab74c9b8d7a

DOGE2.0 (Token) — A token with Meme 2.0 concept. Currently, it has 2821 holders, 6137 on-chain transactions, and a trading volume of US$11.25 million. The price is currently in a downward trend. It is essential to stay updated on this token. https://www.dextools.io/app/cn/ether/pair-explorer/0xd99034942c4a883ff3ed6cda6c91fe505a58eb2e

2.2.2 Uniswap V3

PEPE2.0 (Token) — This project was created by a major holder who was previously blacklisted by PEPE. It has recently seen a 5x surge, leading to the rise of some memecoins. It has an on-chain liquidity of US$2.08 million, a 24-hour trading volume of US$22.3 million, and 13,874 holders. Contract checks reveal that it has adjustable anti-whale settings. Bitget was the first exchange to list this project among CEXs.

3.Blockchain Profile — BSC Chain

3.1 User Profile

3.1.1 Core Data

Total active users on BSC: 1,317,790

New active users on BSC: 193,210, with a daily decrease of 0.06%

Existing active users on BSC: 1,124,580, with a daily decrease of 1.68%

3.1.2 New User Profile

Core data: There were a total of 193,210 new active users on BSC yesterday, with a daily decrease of 0.06%

Popular Sectors

Popular Projects

Key Projects:

Tiny Tap (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 has recently established a US$10 million Global Educators Fund, gaining considerable interest in the community.

3.1.3 Existing User Profile

Core data: The number of BSC active existing users is 1,124,580, with a daily decrease of 1.68%

Popular Sectors

Popular Projects

Key Projects:

Playbux (DApp) — Playbux is a metaverse project on the Binance Smart Chain that integrates real-world shops (shop-to-earn), DeFi, NFT, and virtual community promotions. Users can explore the blockchain world (such as PancakeSwap, 1inch, NFT marketplace, mini-games, etc.) within Playbux’s metaverse while also experiencing real-world shopping and getting rebates on the platform. Playbux entered and ranks at the forefront of the on-chain “Top 10 Social-Fi DApps” list based on users’ activity, with 130,000 users over the past 30 days, indicating high popularity.

3.2 Popular Trading Pairs

3.2.1 PancakeSwap V2

METIS (Token) — The price of METIS on BSC has plummeted by 99%. The Metis official team stated that it had taken snapshots of the METIS holder addresses on the BNB Chain at two points: at the time of Poly Network’s exploit, and at the time of the exploiters’ first sale of exploited METIS. Addresses buying METIS on the BNB Chain after the time of the snapshot will not be recognized. They also advise users not to interact with the METIS token contract on the BNB Chain, as a new contract will be deployed.

4.Blockchain Profile — Polygon Chain

4.1 User Profile

4.1.1 Core Data

Total active users on Polygon: 393,552

New active users on Polygon: 86,392, with a daily increase of 10.70%

Existing active users on Polygon: 307,160, with a daily decrease of 1.90%

4.1.2 New User Profile

Core data: There were a total of 86,392 new active users on Polygon yesterday, with a daily increase of 10.70%

Popular Sectors

Popular Projects

Key Projects:

Phi (DApp) — A social task platform based on ENS and on-chain/off-chain wallet activity, providing a visualization of on-chain identity. Today, it launched the Quest promotion with Mirror, a decentralized media content platform. Up to 10 NFTs can be minted in the promotion, receiving high participation.

4.1.3 Existing User Profile

Core Data: The number of Polygon active existing users is 307,160, with a daily decrease of 1.90%

Popular Sectors

Popular Projects

Key Projects:

ZED RUN (DApp) — A horse racing game that has already launched, with 66,400 followers on Twitter and 167,000 monthly visits according to Similarweb. The majority of visitors are from the United States (48.63%) and the United Kingdom (25.44%). The game is very popular within its community.

4.2 Popular Trading Pairs

4.2.1 Uniswap V3

W$C (Token) — Positioned as the first decentralized national cryptocurrency driven by smart contracts and based on direct democracy, it shares a similar concept with World coin. Recently, there has been a noticeable uptrend from its bottom. The on-chain liquidity is US$1.1 million, and the 24-hour trading volume is US$1.6 million. Contract checks reveal potential mint function. Recently, trading volume has noticeably increased, making it essential to observe its performance.

5.Blockchain Profile — Arbitrum Chain

5.1 User Profile

5.1.1 Core Data

Arbitrum Active Users: 178,963

Arbitrum New Active Users: 30,520, with a daily increase of 27.73%

Arbitrum Existing Active Users: 148,443, with a daily increase of 13.88%

5.1.2 New User Profile

Core data: There were a total of 30,520 new active users on Arbitrum yesterday, with a daily increase of 27.73%

Popular Sectors

Popular Projects

Key Projects:

yKunji (Token) — A token launched by Kunji Finance, a quantitative strategy pool. Users can invest in different quantitative strategies through the project. The token currently has 13,376 holders. The project is conducting the Early Adopter promotion, expected to end on July 10.

5.1.3 Existing User Profile

Core data: The number of Arbitrum active existing users is 148,443, with a daily increase of 13.88%

Popular Sectors

Popular Projects

Key Projects:

LayerZero (DApp) — LayerZero is a cross-chain protocol that facilitates communication between DApps deployed on different blockchains without the need for any intermediary chains or consensus mechanisms. Currently, various contracts utilizing the LayerZero infrastructure have accounted for nearly half of the gas consumption on the Arbitrum chain. This includes NFTs on platforms such as Stargate, Woo, and Holograph.

5.2 Popular Trading Pairs

5.2.1 Uniswap V3

PENDLE (Token) — The price of Pendle surged by 40% after it was listed on Binance, followed by a pullback and a drop below the rally point, indicating sell orders by major profit-takers. Currently, the project’s token price is fluctuating in a narrow range, with an increase of 3.8% today.

6.DApp Ecosystem — All Chains

The UAW fluctuations of all the projects are within the normal range.

7.DApp Ecosystem — ETH Chain

Manifold (DApp) — A creator platform that allows artists to create NFTs using componentized product releases for smart contracts. It is also a platform for users to mint NFTs. Manifold will expand its Creator toolset to L2, providing users with a lower transaction gas fee experience.

8.DApp Ecosystem — BSC Chain

Mobox (DApp) — A cross-chain metaverse gaming platform. After launching MoDragon on Arbitrum, Mobox has seen a boost in traffic. With a total of 7000 Genesis Dragon Eggs matching the current game on Arbitrum, MoDragon allows for nurturing and breeding, making it quite popular.

9.DApp Ecosystem — Polygon Chain

Phi has already been explained in the Blockchain Profile section. The UAW fluctuations of other projects are within the normal range.

10.DApp Ecosystem — WAX Chain

Miningnetwork’s base number is too small, and UAW growth is not significant. The UAW fluctuations of other projects are within the normal range.

11.DApp Ecosystem — Solana Chain

Magic Eden (DApp) — The largest NFT trading market on Solana, Magic Eden has transitioned to a multi-chain development, including the latest BTC Ordinals NFT. Currently, it still maintains its top active application status within the Solana ecosystem. Magic Eden has had no remarkable promotions recently.

12.DApp Ecosystem — Arbitrum Chain

Galxe (DApp) — An on-chain task platform. According to information promoted in its community, Galxe’s native EVM token will be deployed on more chains, including Arbitrum, Optimism, AVAX, Fantom, and Moonbeam, among others.

13.DApp Ecosystem — GameFi Sector Across All Chains

Mobox has already been explained earlier in the report. The UAW fluctuations of other projects are within the normal range.

14.Gas Fee Consumption — ETH Chain

VMPX (Token) — The BRC-20 token VMPX, created by XEN’s founder Jack, has consumed over 2000 ETH in gas fees alone since the mint phase began on Ethereum. At present, the number of VMPX ERC-20 token holders has reached 4449. It has an on-chain liquidity of US$780,000 and a 24-hour on-chain trading volume of US$2.75 million.

FERC2.0 (Token) — This is a risky project. Recently, the rise of PEPE2.0 has sparked a Meme 2.0 trend, leading to the on-chain duplication of various popular memecoins into 2.0 tokens. FERC2.0 reached zero value immediately upon launch, with a signific ant price drop. The deployer left a backdoor. Investors should be wary of such projects. The projects that follow are unlikely to replicate the hype, making it important to identify them correctly.

15.Gas Fee Consumption — BSC Chain

Zillion AAKAR X0 (DApp) — A token on BSC that has been listed on several non-top-tier exchanges. The token saw a 70% increase in the past 7 days and a 270% increase over the past 30 days. It brands itself as a “utility token that breaks through the boundaries between centralized and decentralized platforms”. It currently has 39,639 holders.

16.Gas Fee Consumption — Polygon Chain

XEN (Token) — XEN’s founder Jack Levin held a community AMA, announcing that VMPX will serve as the bridge between Bitcoin Ethereum and the X1 Blockchain. As the launch of X1 approached, the mint phase for VMPX began on Ethereum. VMPX will also be exchanged for XN tokens at a 1:3 ratio in the future, resulting in a high level of market attention recently. The related on-chain mint arbitrage interactions remain active.

17.Gas Fee Consumption — Arbitrum Chain

LayerZero (DApp) — LayerZero is a cross-chain protocol that facilitates communication between DApps deployed on different blockchains without the need for any intermediary chains or consensus mechanisms. Currently, various contracts utilizing the LayerZero infrastructure are ranking high in terms of gas consumption on the Arbitrum chain. This includes Stargate and Woo, among others. With a daily interaction count of 390,000, LayerZero is maintaining a high activity rate.

18.Twitter Trends Token Top 20

APE (Token) — With the recent price drop of the BAYC series NFTs, reaching a maximum drop of 25% in 7 days, the price of Apecoin has also experienced a decrease. The continuous inflation caused by the release of staked tokens dilutes the value, which exacerbates the negative impact on the price when underlying funds are less active. In the past 24 hours, the APE token has dropped by 10%, reaching a new low since its launch.

FTM (Token) — Assets worth approximately $118 million have been transferred out from Fantom’s Multichain bridge, with the majority consisting of stablecoins. As a result, FTM experienced a temporary decline of over 10%. In response to this, the Fantom Foundation issued a statement clarifying that FTM has never been issued or managed by Multichain. Therefore, wFTM, FTM ERC-20, and FTM on Opera remain unaffected. However, the outflow of stablecoins resulted in a 14% decrease in the on-chain TVL of FTM.

19.Google Trends — Global

ETH (Token) — Recently, the ETH/BTC exchange rate experienced a 5% rebound but quickly lost momentum. Overall, altcoins have also seen a notable pullback, indicating relatively weaker trends. Currently, the market is still primarily driven by BTC, while ETH maintains a steady increase in staking rates after the Shanghai upgrade. With the delay of the London hard fork, there is no short-term catalyst driving the market.

SHIB (Token) — A memecoin, Shib experienced a surge during the previous bull market cycle. The token has shown weaker performance compared to the overall market recently, but its trading community remains substantial, providing potential for growth during a bullish market. Additionally, the project is still developing the Shibarium chain, which could drive positive performance in the future. Today, SHIB 2.0 token appeared on-chain and it experienced a massive 700x surge in price. SHIB 2.0 has been listed on Bitget, and users are welcome to trade it.

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

a) South Asia Region

Currently no data available

b) Southeast Asia Region

Indonesia Trending Tokens: POOCOIN, WAVES, XEN

Philippines Trending Tokens: ETH

Vietnam Trending Keywords: Crypto Bubble , Bybit

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

Trending Keywords: Crypto News

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

a) CIS Region

Trending Keywords: Crypto Bubbles

b) English-speaking Countries

Currently no data available

c) Europe

Poland Trending Tokens: SHIB, LUNA

Spain Trending Tokens: Celsius, LUNA, SHIB, BTC, BNB

Germany Trending Tokens: ETH, DOT, BTC

Turkey Trending Keywords: Crypto Kemal, Coinmarketcap

Italy Trending Tokens: SHIB

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

a) Africa

Trending Keywords: Crypto Bubbles, Crypto Exchange

b) Middle East

Trending Tokens: PEPE

Trending Keywords: Crypto News, Crypto Bubbles

c) Latin America

Brazil Trending Tokens: BTC, XEC, XEN, SOL, AAVE, ETH, FLOKI

Mexico Trending Tokens: SHIB, DOGE

Chile Trending Keywords: Crypto Marketcap

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