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- Bitget Research: BlackRock's Proposed Spot Bitcoin ETF Registered with DTCC, Cryptocurrency Market Surges Across the Board
Bitget Research: BlackRock's Proposed Spot Bitcoin ETF Registered with DTCC, Cryptocurrency Market Surges Across the Board
Bitget Research
2023/10/24
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:
Chainlink (Token) - Chainlink has recently enjoyed a series of positive developments, with its price breaking through a 1.5-year fluctuation range, indicating market approval and buy orders. As one of the most crucial infrastructures in the DeFi field and an essential part of the RWA narrative, LINK's
future market performance is promising.
CHZ (Token) - Fan token CHZ is a digital currency designed for the sports and entertainment sectors, provided by the Malta-based fintech company of the same name, Chiliz. CHZ operates the sports and entertainment platform Socios through
blockchain">blockchain technology, allowing users to engage in the governance of their favorite sports brands. Through the Socios platform, many sports clubs and associations can issue fan tokens, connect with their fans, and open new revenue channels.
SAFEREUM (Token) - The project had a trading volume of approximately US$10.17 million in the past 24 hours, with market data showing a price drop of approximately 96%. There are suspicions that the project has rugged.
STARL (Token) - This token of an old gaming project has recently become a hot topic of hype. STARL saw an on- XCNUSDT">
chain trading volume of US$11.64 million yesterday, with a price decline of approximately 50%, emphasizing the need for caution against potential risks.
PEPE (Token) - Influenced by the market surge yesterday, the famous
memecoin PEPE rose by approximately 23%.
RACA (Token) - Raca, recognized as one of the tokens with the strongest wealth creation effect during the previous GameFi craze, has recently been rediscovered and is speculated upon amid the GameFi market's volatility. This indirectly indicates that the speculative capital in the gaming field is eager to move.
LONG (Token) - Recently, there has been a surge of replica versions of the popular Ethereum-based LONG project on BSC, necessitating caution and careful scrutiny among participants.
RevaLink Wallet Token (Token) - This project is one of the more actively engaged tokens on BSC. According to the project's Twitter account, it primarily focuses on decentralized cold and hot wallets, with its token serving as the governance token. The project has approximately 665,000 holders, but the price has been continuously falling. Users are advised to observe and proceed with caution.
2.Popular NFTs:
OKX Crypto Cricket Cup (NFT) - This project is an on-chain promotion organized by OKX, primarily targeting the Indian market and projects related to India.
3.Popular DApps:
Uniswap - UniversalRouter (DApp) - As the market continues to recover, the number of interactions on Uniswap has far surpassed other protocols, indicating that on-chain users have become much more active. Whether there will be an altcoin rally next is worth anticipating.
Friend3_v1 (DApp) - A replica of Friend.tech on the BSC chain, with a relatively low TVL. The project is in its initial phases and experienced increased interaction from new users on the BSC chain yesterday. It is advisable to keep an eye on this project.
Erc4377 - EntryPoint_v0_6 (DApp) - EntryPoint for the Ethereum standard ERC4377 abstract accounts is currently experiencing numerous on-chain interactions. This suggests that on-chain users are actively testing and using abstract accounts. Numerous projects utilizing abstract accounts have already emerged in the market, meriting broad attention.
T2MultiverseSoulShares (DApp) - This project is a recently active FT replica on the Base chain, with modifications made to the original FT. The current TVL is approximately 13.7 ETH. It is advisable to observe its progress.
Maestro (DApp) - A Telegram Bot project, Maestro offers DeFi trading functions on the $ETH, $BSC, and $ARB chains. The project's fee revenue over a 24-hour period reached US$100,000, ranking it the thirteenth project by revenue on the chain, and the first in the TG Bot sector.
Vertex (DApp) - Vertex is an on-chain derivative DEX that has seen rapid growth in trading volume recently. It currently ranks in the top three in terms of DEX derivatives trading volume, with a daily trading volume of approximately US$40 million. The project has entered its final phase of trading mining before the token launch, with the token anticipated to launch in October.
4.Twitter Hot Topics:
No content for today due to issues with the data source.
5.Regional Trending Searches:
Bitcoin (Token) - At 00:24 on October 24 (UTC+8), American financial lawyer Scott Johnsson indicated on his social media account that, through studying the S-1 amendment submitted by BlackRock, he discovered that BlackRock has obtained a CUSIP (Committee on Uniform Securities Identification Procedures) number, preparing for the launch of the spot
Bitcoin ETF. BlackRock stated in the document that it hopes to prepare "Seed Capital" for the spot Bitcoin ETF in October. Stimulated by various positive news, Bitcoin experienced a brief surge, breaking through US$34,000 at 7 AM (UTC+8).
Main Body
Written by: Bitget Research
Data collection time: October 24, 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 (Token) - Sats currently stands as the token with the highest trading volume over the past 24 hours among the BRC-20 series tokens. This token represents the smallest unit of Bitcoin, Satoshi, and has a substantial number of holders and attention.
2.Blockchain Profile - ETH Chain
2.1 User Profile
2.1.1 Core Data
Total active users on ETH: 391,508
New active users on ETH: 75,238, with a daily increase of 12.64%
Existing active users on ETH: 316,270, with a daily increase of 5.46%
2.1.2 New User Profile
Core data: There were a total of 75,238 new active users on ETH yesterday, with a daily increase of 12.64%
Popular Sectors
Popular Projects
Key Projects:
Chainlink (Token) - Chainlink has recently enjoyed a series of positive developments, with its price breaking through a 1.5-year fluctuation range, indicating market approval and buy orders. As one of the most crucial infrastructures in the DeFi field and an essential part of the RWA narrative, LINK's future market performance is promising.
CHZ (Token) - Fan token CHZ is a digital currency designed for the sports and entertainment sectors, provided by the Malta-based fintech company of the same name, Chiliz. CHZ operates the sports and entertainment platform Socios through blockchain technology, allowing users to engage in the governance of their favorite sports brands. Through the Socios platform, many sports clubs and associations can issue fan tokens, connect with their fans, and open new revenue channels.
2.1.3 Existing User Profile
Core data: The number of ETH active existing users is 316,270, with a daily increase of 5.46%
Popular Sectors
Popular Projects
Key Projects:
Uniswap - UniversalRouter (DApp) - As the market continues to recover, the number of interactions on Uniswap has far surpassed other protocols, indicating that on-chain users have become much more active. Whether there will be an altcoin rally next is worth anticipating.
2.2 Popular Trading Pairs
2.2.1 Uniswap V2
SAFEREUM (Token) - The project had a trading volume of approximately US$10.17 million in the past 24 hours, with market data showing a price drop of approximately 96%. There are suspicions that the project has rugged.
STARL (Token) - This token of an old gaming project has recently become a hot topic of hype. STARL saw an on-chain trading volume of US$11.64 million yesterday, with a price decline of approximately 50%, emphasizing the need for caution against potential risks.
PEPE (Token) - Influenced by the market surge yesterday, the famous memecoin PEPE rose by approximately 23%.
2.2.2 Uniswap V3
LINK (Token) - According to its Twitter account, the project recently initiated a hackathon, and seven projects have utilized Link's services within a week. After the Cancun upgrade, an explosion in on-chain applications is anticipated, significantly boosting the demand for the LINK token as the project continues to build despite the bear market. The project's token has seen a noticeable rebound, surging by over 50% in three days and breaking its yearly high, demonstrating strong popularity.
INJ (Token) - INJ, serving as a dedicated Layer 1 project for the DeFi ecosystem, often goes unnoticed in widespread discussions within the crypto community. However, INJ's token performance this year has been uniquely positive. To date, INJ has soared up to 790% within the year, undoubtedly making it one of the best-performing assets so far. Despite the unfavorable overall climate this year, INJ's ability to maintain such a steady market trend indicates an extremely strong consensus among its holders. With the recovery of the
crypto market, the community is expected to soon recognize INJ's potential, leading to even stronger gains in its future market performance.
3.Blockchain Profile - BSC
3.1 User Profile
3.1.1 Core Data
Total active users on BSC: 1,051,583
New active users on BSC: 171,581, with a daily increase of 58.47%
Existing active users on BSC: 880,002, with a daily increase of 13.25%
3.1.2 New User Profile
Core data: There were a total of 171,581 new active users on BSC yesterday, with a daily increase of 58.47%
Popular Sectors
Popular Projects
Key Projects:
Friend3_v1 (DApp) - A replica of Friend.tech on the BSC chain, with a relatively low TVL. The project is in its initial phases and experienced increased interaction from new users on the BSC chain yesterday. It is advisable to keep an eye on this project.
3.1.3 Existing User Profile
Core data: The number of BSC active existing users is 880,002, with a daily increase of 13.25%
Popular Sectors
Popular Projects
Key Projects:
RevaLink Wallet Token (Token) - This project is one of the more actively engaged tokens on BSC. According to the project's Twitter account, it primarily focuses on decentralized cold and hot wallets, with its token serving as the governance token. The project has approximately 665,000 holders, but the price has been continuously falling. Users are advised to observe and proceed with caution.
3.2 Popular Trading Pairs
3.2.1 PancakeSwap V2
RACA (Token) - Raca, recognized as one of the tokens with the strongest wealth creation effect during the previous GameFi craze, has recently been rediscovered and is speculated upon amid the GameFi market's volatility. This indirectly indicates that the speculative capital in the gaming field is eager to move.
LONG (Token) - Recently, there has been a surge of replica versions of the popular Ethereum-based LONG project on BSC, necessitating caution and careful scrutiny among participants.
4.Blockchain Profile - Polygon Chain
4.1 User Profile
4.1.1 Core Data
Total active users on Polygon: 378,572
New active users on Polygon: 69,919, with a daily decrease of 76.14%
Existing active users on Polygon: 308,653, with a daily increase of 6.80%
4.1.2 New User Profile
Core data: There were a total of 69,919 new active users on Polygon yesterday, with a daily decrease of 76.14%
Popular Sectors
Popular Projects
Key Projects:
OKX Crypto Cricket Cup (NFT) - This project is an on-chain promotion organized by OKX, primarily targeting the Indian market and projects related to India.
4.1.3 Existing User Profile
Core Data: The number of Polygon active existing users is 308,653, with a daily increase of 6.80%
Popular Sectors
Popular Projects
Key Projects:
Erc4377 - EntryPoint_v0_6 (DApp) - EntryPoint for the Ethereum standard ERC4377 abstract accounts is currently experiencing numerous on-chain interactions. This suggests that on-chain users are actively testing and using abstract accounts. Numerous projects utilizing abstract accounts have already emerged in the market, meriting broad attention.
4.2 Popular Trading Pairs
4.2.1 Uniswap V3
AAVE (Token) - The Aave community's proposal to "purchase GHO from the secondary market to meet the DAO's short-term funding needs" has been passed. Approximately 1.6 million GHO will soon be bought from the secondary market to support Aave DAO's short-term capital requirements, such as grants, event sponsorships, etc. As a long-standing DeFi lending market, Aave is actively expanding into new business areas while maintaining its share in the lending space. This approach naturally elevates the token's value in tandem with its growth.
5.Blockchain Profile - Arbitrum Chain
5.1 User Profile
5.1.1 Core Data
Total Active Users on Arbitrum: 115,009
New Active Users on Arbitrum: 19,069, with a daily decrease of 17.52%
Existing Active Users on Arbitrum: 95,940, with a daily increase of 2.77%
5.1.2 New User Profile
Core data: There were a total of 19,069 new active users on Arbitrum yesterday, with a daily decrease of 17.52%
Popular Sectors
Popular Projects
Key Projects:
OdosRouterV2 (DApp) - The Odos Protocol stands out as the first Dex aggregator that allows users to swap multiple tokens for a single asset in one atomic transaction. This system facilitates the exchange of a basket of input tokens for the desired output in one go, saving on gas fees and mitigating market volatility.
5.1.3 Existing User Profile
Core data: The number of Arbitrum active existing users is 95,940, with a daily increase of 2.77%
Popular Sectors
Popular Projects
Key Projects:
PostTechProfile (DApp) - Post.Tech is an emerging SocialFi and DeFi platform based on the Arbitrum network, which is renowned for its Layer 2 scaling solutions. This platform presents a unique fusion of social media and finance, allowing users to tokenize their profiles and posts. By doing so, users can buy and sell shares, introducing a financial dimension to social interactions. Post.Tech also has an airdrop event, which rewards users through various activities on the platform, fostering a community-centric environment.
5.2 Popular Trading Pairs
5.2.1 Uniswap V3
GMX (Token) - GMX is a decentralized exchange (DEX) specifically designed for trading perpetual
cryptocurrency futures, offering up to 50x leverage. The cryptocurrencies available for trading include popular ones such as Bitcoin (BTC) and Ethereum (ETH). The platform was launched in September 2021 and has already accumulated over US$130 billion in trading volume with 283,000 users, making it a principal derivatives DEX on Arbitrum. Recently, with the rise in market volatility, the yield for GMX platform's GLP has shown significant growth, worth monitoring for users.
6.Blockchain Profile - Base Chain
6.1 User Profile
6.1.1 Core Data
Total Active Users on Base: 78,953
New Active Users on Base: 26,333, with a daily decrease of 58.33%
Existing Active Users on Base: 52,620, with a daily decrease of 1.46%
6.1.2 New User Profile
Core data: There were a total of 26,333 new active users on Base yesterday, with a daily decrease of 58.33%
Popular Sectors
Popular Projects
Key Projects:
T2MultiverseSoulShares (DApp) - This project is a recently active FT replica on the Base chain, with modifications made to the original FT. The current TVL is approximately 13.7 ETH. It is advisable to observe its progress.
6.1.3 Existing User Profile
Core data: The number of Base active existing users is 52,620, with a daily decrease of 1.46%
Popular Sectors
Popular Projects
Key Projects:
Maverick Protocol (DApp) - This project is a renowned DEX that has recently expanded onto the Base chain and exhibits a commendable level of user engagement.
7. DApp Ecosystem - All Chains
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). Previously, TinyTap established a US$10 million Global Educators Fund.
8.DApp Ecosystem - ETH Chain
Uniswap (DApp) - As the market continues to recover, the number of interactions on Uniswap has far surpassed other protocols, indicating that on-chain users have become much more active. Whether there will be an altcoin rally next is worth anticipating.
9.DApp Ecosystem - BSC
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). Previously, TinyTap established a US$10 million Global Educators Fund.
10.DApp Ecosystem - Polygon Chain
Galxe (DApp) - Galxe is a prominent Web3 credential data network. Collaborative credential infrastructure enables brands and developers to engage with communities and build powerful products within Web3.
11.DApp Ecosystem - WAX Chain
Farmers World (DApp) - Farmers World is the first agricultural game to run on an NFT platform. Users can select suitable tools, develop various resources, purchase land to construct enormous farms, and enjoy the gaming experience of working as a farmer within the Farmers World's ecosystem.
12.DApp Ecosystem - Solana Chain
Magic Eden (DApp) - Magic Eden, a community-centric NFT marketplace, is considered the most popular NFT marketplace on the Solana blockchain. The platform was founded in September 2021 by four friends, including former Uber Eats developer Sidney Zhang, former FTX employee Jack Lu, former Coinbase product manager Zhuoxun Yin, and former Facebook developer Zhuojie Zhou. Magic Eden offers not just a platform for creators and collectors to trade NFTs but also provides its users with various features and services.
13.DApp Ecosystem - Arbitrum Chain
GMX (DApp) - GMX is a decentralized exchange (DEX) specifically designed for trading perpetual
cryptocurrency futures, offering up to 50x leverage. The cryptocurrencies available for trading include popular ones such as Bitcoin (BTC) and Ethereum (ETH). The platform was launched in September 2021 and has already accumulated over US$130 billion in trading volume with 283,000 users, making it a principal derivatives DEX on Arbitrum. Recently, with the rise in market volatility, the yield for GMX platform's GLP has shown significant growth, worth monitoring for users.
14.DApp Ecosystem - Base Chain
BaseSwap (DApp) - BaseSwap, the native DEX project on the Base chain, has experienced a significant increase in UAW with the recovery in the market.
15.DApp Ecosystem - GameFi Sector Across All Chains
Farmers World (DApp) - Farmers World is the first agricultural game to run on an NFT platform. Users can select suitable tools, develop various resources, purchase land to construct enormous farms, and enjoy the gaming experience of working as a farmer within the Farmers World's ecosystem.
16.Gas Fee Consumption - ETH Chain
Maestro (DApp) - A Telegram Bot project, Maestro offers DeFi trading functions on the $ETH, $BSC, and $ARB chains. The project's fee revenue over a 24-hour period reached US$100,000, ranking it the thirteenth project by revenue on the chain, and the first in the TG Bot sector.
17.Gas Fee Consumption - BSC
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: XEN Batch Minter (DApp) - CoinTool is an online cryptocurrency toolbox, offering a convenient set of blockchain tools to cater to a variety of needs for crypto enthusiasts. It provides a user-friendly interface that allows users to create their own cryptocurrency (token) without any programming knowledge. Through CoinTool's service, users can set fundamental details of the token such as its name, abbreviation, issuance volume, etc. It is described as a one-stop solution for creating, locking, and launching tokens. Among its features, the XEN Batch Minter method stands out as a one-click tool for batch minting XEN, which is highly popular among XEN investors.
19.Gas Fee Consumption - Arbitrum Chain
Vertex (DApp) - Vertex is an on-chain derivative DEX that has seen rapid growth in trading volume recently. It currently ranks in the top three in terms of DEX derivatives trading volume, with a daily trading volume of approximately US$40 million. The project has entered its final phase of trading mining before the token launch, with the token anticipated to launch in October.
20.Gas Fee Consumption - Base Chain
Friend.Tech (DApp) - Friend.tech is one of the hottest projects on the Base chain. The project's operations range from tokenization to seamless interactions using blockchain technology and cryptocurrency. Not only has Friend.tech fueled the recent growth in Base, but it has also become a significant contributor to Base's growth through its operations on Base's Ethereum Layer 2 chain.
21.Twitter Trends Token Top Rank
No content for today due to issues with the data source.
22.Google Trends - Global
Bitcoin (Token) - At 00:24 on October 24 (UTC+8), American financial lawyer Scott Johnsson indicated on his social media account that, through studying the S-1 amendment submitted by BlackRock, he discovered that BlackRock has obtained a CUSIP (Committee on Uniform Securities Identification Procedures) number, preparing for the launch of the spot Bitcoin ETF. BlackRock stated in the document that it hopes to prepare "Seed Capital" for the spot Bitcoin ETF in October. Stimulated by various positive news, Bitcoin experienced a brief surge, breaking through US$34,000 at 7 AM (UTC+8).
23.Google Trends Surge - East Asia, South Asia, Southeast Asia, Hong Kong, Macau, and Taiwan
a) South Asia Region
India Trends: kucoin, trb, xen, btc, crypto heatmap
b) Southeast Asia Region
Philippines Trends: coingecko, coinmarketcap, slp, sol
Indonesia Trends: xen, floki, paypal
Malaysia Trends: binance, moon, ada
c) East Asia and Hong Kong, Macau, and Taiwan
Trends: crypto news, crypto in Chinese
24.Google Trends Surge - English-speaking Countries, Europe, CIS Region
a) CIS Region Trends: crypto com, crypto pro, crypto bubbles, coinmarketcap
b) English-speaking Countries
Australia Trends: xrp, ngs, bitboy, inj, matic
Canada Trends: milady, inj, sand, trx
UK Trends: canto, revolut, myria
c) Europe
France Trends: uco, cro, tellor, bonk, trb
Italy Trends: btc, xen, dot, bonk, trb, shib
Turkey Trends: cointiply, crypto ramco, coinpayu
Belgium Trends: vynee stock, bitcoin cours dollar, uniswap, ripple
25.Google Trends Surge - Middle East, Latin America, Africa
a) Africa
Nigeria Trends: xen, bnb
Algeria Trends: bitcoin
b) Middle East Trends: crypto bubbles, etoro
c) Latin America
Brazil Trends: gmx, eth, btc, sp 500, coinpayu
Argentina Trends: rava, dai, trb, 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
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