Bitget Research: Market Rapidly Surges and Retraces as CPI Falls Below Expectations, Crypto Market Enters Narrow Consolidation Phase

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:

FRAM (Token) — Recently, the FRAM token consistently ranks first in on- XCNUSDT">chain trading volume, reaching a daily trading volume of US$2.11 million. One distinctive aspect of this BRC20 token project is that 98% of the tokens are controlled by the top 9 addresses, with two of them exhibiting obvious wash trading behavior. The current market cap is US$230 million, with 759 holders and 2415 transfers.

XAI (Token) — A token with the original ERC-20 token concept, XAI is intended to explore the field of artificial intelligence. The token has seen nearly a 10x increase in value since yesterday, with a 24-hour trading volume of US$7.29 million, and a market cap of US$1 million, indicating a relatively high level of popularity.

RLB (Token) — The meme token associated with the concept of gambling has experienced a three-fold price increase this month and continues to reach new highs with a 17% surge in the past 24 hours. The project has launched a 1000x futures trading product. Some whales on-chain have recently accumulated the token, which had a 24-hour trading volume of US$7.12 million and a market cap of US$360 million.

cbETH (Token) — Influenced by the official announcement from Eigenlayer today that the re-staking cap for LST has been increased from 9600 to 30,000 staked ETH, the number of staked cbETH on Eigenlayer rapidly grew to 15,000. Consequently, Coinbase’s ETH liquidity staking token also became the most active LSD token on centralized exchanges.

PEPE2.0 (Token) — Following a continuous significant decline in the Meme 2.0 series, the leading PEPE2.0 remains in a declining state, but it leads the concept tokens in trading volume, reaching US$6 million. However, most Meme 2.0 tokens have experienced a substantial rise, with SHIB2, DOGE2, and BABYDOGE2 experiencing 24-hour gains of +100%, +60%, and +40% respectively. Observations from social media platforms suggest that a second wave of hype might be coming for the Meme 2.0 sector tokens.

RWT (Token) — Rumored to be a pyramid scheme token locally promoted by hopingclub. The token has skyrocketed, with a current market cap reaching up to US$50 billion and the number of holders exceeding 340,000. The tokens are overly concentrated, with the top 6 addresses respectively holding 45%, 15%, 15%, 10%, 10%, and 4.6% of the tokens, accounting for more than 99% of the tokens. The token price is strongly controlled by the pyramid scheme party.

agEUR (Token) — Decentralized stablecoin protocol Angle Protocol has launched a new proposal in the community, suggesting the launch of a new Transmuter module and replacing the collateral reserve of the protocol. Transmuter is a new minting module designed for agEUR, aimed at enhancing the system’s resilience to black swan events and reducing reliance on hedging mechanisms. The proposal also suggests changing the collateral reserve that supports agEUR (including USDC, DAI, and FRAX) to EUROC and bC3M.

RDNT (Token) — The subDAO Radpie, built around Radiant, is currently distributing dLP airdrops with only half a day remaining. By converting dLP to mDLP within the Radpie protocol, participants can receive RDP airdrop allocations. Radpie aims to provide leverage income for the community by supporting dLP.

2.Popular NFTs:

Pandra (NFT) — A cross-chain NFT built on LayerZero using zk Light Client, this NFT wears different outfits on different chains, with the profession determined by the birth chain. Users can collect different Pandra to summon the Pandra King. The project currently has a mint count of 87,000 and 26,000 holding addresses.

Merkly ONFT (NFT) — Merkly, a multi-chain NFT cross-chain bridge, connects NFTs to various networks through LayerZero and zkSync. With the anticipation of airdrops on LayerZero and zkSync, Merkly has become an integral part of the interaction between zkSync and LayerZero. This has resulted in high interaction data and increased popularity for Minting multi-chain NFTs on Merkly.com.

Azure (NFT) — Many “Purchase” contract operations have occurred on-chain. The latest piece created by the Polygon1993 project, the collection expresses themes of loneliness, depression, loss, and mental fragility. It has 172,000 items, with no on-chain transfer transactions at present.

3.Popular DApps:

Starknet (DApp) — Starknet officially announced that version v0.12.0 has been deployed on the mainnet. This version is focused on enhancing network throughput to improve scalability and transaction latency. With the successful launch of v0.12.0 on the mainnet, the team will test the deployment of v0.12.1 in the coming weeks, a version that will continue to strive to increase network efficiency.

Circle (DApp) — The official statement today indicates that Circle is intensifying its focus on core business activities and execution in order to maintain a healthy balance sheet. It has reduced or terminated investments in non-core activities and has cut operational expenses, which include a slight reduction in the number of personnel.

Eigenlayer (DApp) — Eigenlayer officially announced today that the re-staking cap for LST has increased from 9600 to 30,000 staked ETH. The current total TVL is 53,000 ETH, quickly reaching its maximum staking cap due to high user interest.

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. The project has announced a partnership with iQIYI, a global streaming company, to introduce a ‘Watch to Earn’ feature, aimed at enabling users around the world to enjoy quality and free content. Upon entering the Playbux metaverse platform, users can go to the ‘iQIYI Building’ to access shows and movies provided by iQIYI that are part of the ‘Watch to Earn’ feature. After reaching a certain viewing duration, they can participate in a lottery to win NFTs, BUSD, and other rewards.

Maker (DApp) — According to recent official disclosures, the total portfolio of MakerDAO’s real-world assets (RWA) reached 2.34 billion DAI in May. RWAs account for 79.7% of all stability fees generated by the Maker protocol. From the beginning of the year to date, MakerDAO’s RWA stability fees have accumulated to 17.27 million DAI, making it a leading project in the RWA sector.

Tether (DApp) — The stablecoin issuer Tether issued an additional 1 billion USDT on the Tron network yesterday, according to Whale Alert. The current total market cap of Tether is US$83.3 billion, which has generally remained steady over the past month.

Galxe (DApp) — A famous on-chain task platform. It is currently preparing to host community AMAs with several projects, including Syscoin, Dtravel, Collab.land, among others. In terms of product, the project has developed a newsletter subscription service related to the project, enabling users to get the latest news about Galxe’s product development promptly.

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. Since June, it has had numerous collaborations with DeFi projects in the Arbitrum ecosystem. WOO tokens can now be staked across seven chains, gradually gaining increasing importance in the LayerZero ecosystem.

Secondlive (DApp) — Led by Binance Labs, Secondlive is a Metaverse live-streaming platform on the BSC. The project is yet to launch its own token, with airdrop expectations. It is deployed on multiple chains. Recently, it announced its expansion into the Scroll ecosystem and introduced a Scroll Uniform NFT minting promotion. SecondLive is also deployed on Arbitrum. Early content providers of the project can earn $LIVE rewards. It is essential to stay updated on this project.

Vertex (DApp) — Vertex, a hybrid order book-AMM DEX built on Arbitrum, offers unified collateral across spot, perpetual, and money markets. Vertex has received a strategic investment from Wintermute Ventures.

4.Twitter Hot Topics:

DIA (Token) — Decentralized Intelligence Agency. As previously mentioned, Arkham is an encrypted intelligence analysis platform aiming to systematically analyze and deanonymize blockchain transactions. Arkham announced that it would launch its on-chain intelligence trading platform, Arkham Intel Exchange, on July 18. DIA is an on-chain intelligence project, but the token’s recent prospects are unclear. Participation is not recommended.

5.Regional Trending Searches:

Bitcoin (Token) — The U.S. CPI data for June, released yesterday, experienced a drop beyond expectations. The seasonally adjusted U.S. CPI in June recorded 3.0%, returning to the era of 3. This news caused a significant drop in the U.S. dollar index, leading to a slight increase in BTC. Meanwhile, on-chain information suggests that the U.S. government appears to have moved Bitcoins confiscated from Silk Road, which triggered a risk aversion sentiment in the market, resulting in a drop in BTC.

Main Body

Written by: Bitget Research

Data collection time: July 13, 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

FRAM (Token) — Recently, the FRAM token consistently ranks first in on-chain trading volume, reaching a daily trading volume of US$2.11 million. One distinctive aspect of this BRC20 token project is that 98% of the tokens are controlled by the top 9 addresses, with two of them exhibiting obvious wash trading behavior. The current market cap is US$230 million, with 759 holders and 2415 transfers.

2.Blockchain Profile — ETH Chain

2.1 User Profile

2.1.1 Core Data

Total active users of ETH: 392,881

New active users of ETH: 85,166, with a daily decrease of 5.88%

Existing active users of ETH: 307,715, with a daily decrease of 10.71%

2.1.2 New User Profile

Core data: There were a total of 85,166 new active users on ETH yesterday, with a daily decrease of 5.88%

Popular Sectors

Popular Projects

Key Projects:

Starknet (DApp) — Starknet officially announced that version v0.12.0 has been deployed on the mainnet. This version is focused on enhancing network throughput to improve scalability and transaction latency. With the successful launch of v0.12.0 on the mainnet, the team will test the deployment of v0.12.1 in the coming weeks, a version that will continue to strive to increase network efficiency.

Circle (DApp) — The official statement today indicates that Circle is intensifying its focus on core business activities and execution in order to maintain a healthy balance sheet. It has reduced or terminated investments in non-core activities and has cut operational expenses, which include a slight reduction in the number of personnel.

2.1.3 Existing User Profile

Core data: The number of ETH active existing users is 307,715, with a daily decrease of 10.71%

Popular Sectors

Popular Projects

Key Projects:

Eigenlayer (DApp) — Eigenlayer officially announced today that the re-staking cap for LST has increased from 9600 to 30,000 staked ETH. The current total TVL is 53,000 ETH, quickly reaching its maximum staking cap due to high user interest.

2.2 Popular Trading Pairs

2.2.1 Uniswap V2

PEPE2.0 (Token) — Following a continuous significant decline in the Meme 2.0 series, the leading PEPE2.0 remains in a declining state, but it leads the concept tokens in trading volume, reaching US$6 million. However, most Meme 2.0 tokens have experienced a substantial rise, with SHIB2, DOGE2, and BABYDOGE2 experiencing 24-hour gains of +100%, +60%, and +40% respectively. Observations from social media platforms suggest that a second wave of hype might be coming for the Meme 2.0 sector tokens.

XAI (Token) — A token with the original ERC-20 token concept, XAI is intended to explore the field of artificial intelligence. The token has seen nearly a 10x increase in value since yesterday, with a 24-hour trading volume of US$7.29 million, and a market cap of US$1 million, indicating a relatively high level of popularity.

2.2.2 Uniswap V3

RLB (Token) — The meme token associated with the concept of gambling has experienced a three-fold price increase this month and continues to reach new highs with a 17% surge in the past 24 hours. The project has launched a 1000x futures trading product. Some whales on-chain have recently accumulated the token, which had a 24-hour trading volume of US$7.12 million and a market cap of US$360 million.

cbETH (Token) — Influenced by the official announcement from Eigenlayer today that the re-staking cap for LST has been increased from 9600 to 30,000 staked ETH, the number of staked cbETH on Eigenlayer rapidly grew to 15,000. Consequently, Coinbase’s ETH liquidity staking token also became the most active LSD token on centralized exchanges.

3.Blockchain Profile — BSC Chain

3.1 User Profile

3.1.1 Core Data

Total active users on BSC: 1,500,309

New active users on BSC: 185,839, with a daily increase of 2.52%

Existing active users on BSC: 1,314,470, with a daily increase of 3.41%

3.1.2 New User Profile

Core data: There were a total of 185,839 new active users on BSC yesterday, with a daily increase of 2.52%

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. The project has announced a partnership with iQIYI, a global streaming company, to introduce a ‘Watch to Earn’ feature, aimed at enabling users around the world to enjoy quality and free content. Upon entering the Playbux metaverse platform, users can go to the ‘iQIYI Building’ to access shows and movies provided by iQIYI that are part of the ‘Watch to Earn’ feature. After reaching a certain viewing duration, they can participate in a lottery to win NFTs, BUSD, and other rewards.

3.1.3 Existing User Profile

Core data: The number of BSC active existing users is 1,314,470, with a daily increase of 3.41%

Popular Sectors

Popular Projects

Key Projects:

Pandra (NFT) — A cross-chain NFT built on LayerZero using zk Light Client, this NFT wears different outfits on different chains, with the profession determined by the birth chain. Users can collect different Pandra to summon the Pandra King. The project currently has a mint count of 87,000 and 26,000 holding addresses. https://opensea.io/collection/pandra-codeconqueror-3

3.2 Popular Trading Pairs

3.2.1 PancakeSwap V2

RWT (Token) — Rumored to be a pyramid scheme token locally promoted by hopingclub. The token has skyrocketed, with a current market cap reaching up to US$50 billion and the number of holders exceeding 340,000. The tokens are overly concentrated, with the top 6 addresses respectively holding 45%, 15%, 15%, 10%, 10%, and 4.6% of the tokens, accounting for more than 99% of the tokens. The token price is strongly controlled by the pyramid scheme party.

4.Blockchain Profile — Polygon Chain

4.1 User Profile

4.1.1 Core Data

Total active users on Polygon: 468,667

New active users on Polygon: 88,346, with a daily increase of 1.58%

Existing active users on Polygon: 380,321, with a daily increase of 11.86%

4.1.2 New User Profile

Core data: There were a total of 88,346 new active users on Polygon yesterday, with a daily increase of 1.58%

Popular Sectors

Popular Projects

Key Projects:

Maker (DApp) — According to recent official disclosures, the total portfolio of MakerDAO’s real-world assets (RWA) reached 2.34 billion DAI in May. RWAs account for 79.7% of all stability fees generated by the Maker protocol. From the beginning of the year to date, MakerDAO’s RWA stability fees have accumulated to 17.27 million DAI, making it a leading project in the RWA sector.

4.1.3 Existing User Profile

Core Data: The number of Polygon active existing users is 380,321, with a daily increase of 11.86%

Popular Sectors

Popular Projects

Key Projects:

Holograph (DApp) — A multi-chain NFT protocol. Holograph’s solution allows NFTs to be transferred seamlessly between blockchains without the need for wrapping, and LayerZero serves as the cross-chain message delivery solution for Holograph.

4.2 Popular Trading Pairs

4.2.1 Uniswap V3

agEUR (Token) — Decentralized stablecoin protocol Angle Protocol has launched a new proposal in the community, suggesting the launch of a new Transmuter module and replacing the collateral reserve of the protocol. Transmuter is a new minting module designed for agEUR, aimed at enhancing the system’s resilience to black swan events and reducing reliance on hedging mechanisms. The proposal also suggests changing the collateral reserve that supports agEUR (including USDC, DAI, and FRAX) to EUROC and bC3M.

5.Blockchain Profile — Arbitrum Chain

5.1 User Profile

5.1.1 Core Data

Arbitrum Active Users: 186,193

Arbitrum New Active Users: 32,317, with a daily decrease of 4.25%

Arbitrum Existing Active Users: 153,876, with a daily increase of 6.70%

5.1.2 New User Profile

Core data: There were a total of 32,317 new active users on Arbitrum yesterday, with a daily decrease of 4.25%

Popular Sectors

Popular Projects

Key Projects:

Tether (DApp) — The stablecoin issuer Tether issued an additional 1 billion USDT on the Tron network yesterday, according to Whale Alert. The current total market cap of Tether is US$83.3 billion, which has generally remained steady over the past month.

5.1.3 Existing User Profile

Core data: The number of Arbitrum active existing users is 153,876, with a daily increase of 6.70%

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, Holograph, and Merkly.

Merkly ONFT (NFT) — Merkly, a multi-chain NFT cross-chain bridge, connects NFTs to various networks through LayerZero and zkSync. With the anticipation of airdrops on LayerZero and zkSync, Merkly has become an integral part of the interaction between zkSync and LayerZero. This has resulted in high interaction data and increased popularity for Minting multi-chain NFTs on Merkly.com. https://twitter.com/merkly_com

5.2 Popular Trading Pairs

5.2.1 Uniswap V3

RDNT (Token) — The subDAO Radpie, built around Radiant, is currently distributing dLP airdrops with only half a day remaining. By converting dLP to mDLP within the Radpie protocol, participants can receive RDP airdrop allocations. Radpie aims to provide leverage income for the community by supporting dLP.

6.DApp Ecosystem — All Chains

Sweat Economy (DApp) — A traditional Web2 project that has transitioned to a Web3 wallet and a “Move to Earn” project. It is currently the most active project in the Near ecosystem.

7.DApp Ecosystem — ETH Chain

Blur (DApp) — Due to the recent Azuki incident, the prices of PFP series NFTs have plummeted. As an NFT marketplace, Blur has seen a noticeable increase in UAW. As an important infrastructure in the NFT field, its token shows signs of rebounding.

8.DApp Ecosystem — BSC Chain

Galxe (DApp) — A famous on-chain task platform. It is currently preparing to host community AMAs with several projects, including Syscoin, Dtravel, Collab.land, among others. In terms of product, the project has developed a newsletter subscription service related to the project, enabling users to get the latest news about Galxe’s product development promptly.

9.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. Since June, it has had numerous collaborations with DeFi projects in the Arbitrum ecosystem. WOO tokens can now be staked across seven chains, gradually gaining increasing importance in the LayerZero ecosystem.

10.DApp Ecosystem — WAX Chain

Realm NFT (DApp) — A strategic resource management game set in the context of a world war. Players can save the world with teamwork and earn tokens by playing the game. The main features of the game have been developed and launched. Its 8th season event has already kicked off and has been well-received by the community.

11.DApp Ecosystem — Solana Chain

Helio (DApp) — A Web3 payment platform, unrelated to the decentralized stablecoin project on BSC. The project has raised US$3.3 million in financing led by Solana Ventures. In June, it added a fiat payment channel for the BTC NFT market, which has been well received.

12.DApp Ecosystem — Arbitrum Chain

Chronos (DApp) — A VE (3,3) model DEX on the Arbitrum chain, with a rapidly increasing TVL since launch, currently at US$28.67 million as the popularity has decreased. The main focus is on earning profits through mining. The platform’s token has a 24-hour trading volume of US$47,000.

13.DApp Ecosystem — GameFi Sector Across All Chains

Secondlive (DApp) — Led by Binance Labs, Secondlive is a Metaverse live-streaming platform on the BSC. The project is yet to launch its own token, with airdrop expectations. It is deployed on multiple chains. Recently, it announced its expansion into the Scroll ecosystem and introduced a Scroll Uniform NFT minting promotion. SecondLive is also deployed on Arbitrum. Early content providers of the project can earn $LIVE rewards. It is essential to stay updated on this project.

14.Gas Fee Consumption — ETH Chain

EigenLayer (Dapp) — Recently, EigenLayer announced that the staking cap for LST has been increased from 9600 ETH to 30,000 ETH. According to on-chain data, users have transferred a substantial amount of cbETH into the EigenLayer protocol, an operation referred to as “Deposit Into Strategy”. Generally, early stakers in the LSD sector projects may be eligible to receive airdrop rewards. Participation in this project is recommended.

15.Gas Fee Consumption — BSC Chain

Link3 (DApp) — Link3 is a Web3 native social platform built on the CyberConnect protocol. Currently, the total number of CyberProfiles has exceeded 100,000. Recently, Arbitrum, MantaNetwork, and PoolTogether have joined the Link3 fam, with new promotions keeping on-chain interactions active.

16.Gas Fee Consumption — Polygon Chain

Azure (NFT) — Many “Purchase” contract operations have occurred on-chain. The latest piece created by the Polygon1993 project, the collection expresses themes of loneliness, depression, loss, and mental fragility. It has 172,000 items, with no on-chain transfer transactions at present. https://opensea.io/collection/azure-10

17.Gas Fee Consumption — Arbitrum Chain

Vertex (DApp) — Vertex, a hybrid order book-AMM DEX built on Arbitrum, offers unified collateral across spot, perpetual, and money markets. Vertex has received a strategic investment from Wintermute Ventures.

18.Twitter Trends Token Top 20

DIA (Token) — Decentralized Intelligence Agency. As previously mentioned, Arkham is an encrypted intelligence analysis platform aiming to systematically analyze and deanonymize blockchain transactions. Arkham announced that it would launch its on-chain intelligence trading platform, Arkham Intel Exchange, on July 18. DIA is an on-chain intelligence project, but the token’s recent prospects are unclear. Participation is not recommended. https://coinmarketcap.com/currencies/decentralized-intelligence-agency/

19.Google Trends — Global

Bitcoin (Token) — The U.S. CPI data for June, released yesterday, experienced a drop beyond expectations. The seasonally adjusted U.S. CPI in June recorded 3.0%, returning to the era of 3. This news caused a significant drop in the U.S. dollar index, leading to a slight increase in BTC. Meanwhile, on-chain information suggests that the U.S. government appears to have moved Bitcoins confiscated from Silk Road, which triggered a risk aversion sentiment in the market, resulting in a drop in BTC.

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

a) South Asia Region

India Trending Tokens: ai crypto coins, Lever

Pakistan Trending Keywords: Coingecko, fancy, CPI, Free and Greed Index

b) Southeast Asia Region

Malaysia Trending Tokens: Bitcoin

Philippines Trending Tokens: BTC, Crypto Arena

Indonesia Trending Tokens: XEN, Poocoin, DCT

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

Japan Trending Tokens: XDC, QNT

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

a) CIS Region Trending Keywords: Airdrop, Crypto Bubbles

b) English-speaking Countries

Australia Trending Tokens: ORDS, ARGO

USA Trending Tokens: Lummis, USDT

Canada Trending Tokens: HEX, BTC, ETH, ATOM, LTC

UK Trending Tokens: DRIP, PI, BEE

c) Europe

Spain Trending Tokens: PI, BTC, Sweat, PEPE, Bone

Poland Trending Tokens: XEN, BTC, ETH

Germany Trending Tokens: BTC

Italy Trending Tokens: PEPE, Luna, ARK, UNI

Turkey Trending Keywords: ETH, Selcoin, CMC, Tradingview, Coinpayu

France Trending Tokens: LEXA, APR, BTC, Dolz, PI, AXL

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

a) Africa

Nigeria Trending Keywords: Sybil, Airdrop, Blockchain, Coinbase, Crypto whales

South Africa Trending Tokens: XRP, ORN, DOGE, BTC

b) Middle East Trending Keywords: BTC, Crypto Desk, Coinmarketcap, Crypto News

c) Latin America

Brazil Trending Tokens: Google Finance, BTC, Solana, Radix, ADA, Doge

Mexico Trending Tokens: Solana, Crypto Arena

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