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Bitget Research: BTC Consolidates in Sideways at High Level With Altcoins Rally, Fear and Greed Index Returns to Bull Market Levels
Bitget Research
2023/10/26
the past 24 hours, there have been many new popular tokens and topics emerging in the e0430b4e-e791-424c-9b60-950c7464de19, and perhaps they could be the next market spotlight.
In Summary:
1.Popular Tokens:
SATS (Token) - A BRC-20 token, SATS, represents the smallest unit of Bitcoin, satoshi, with a total supply of 21 million. The mint gas fee alone exceeds US$15 million. Unisat officially proposes using it as the gas fee consumption token for testing the BRC-20 DEX.
Chainlink (Token) - Chainlink has recently enjoyed a series of positive developments, with its price breaking through a 1.5-year fluctuation range and the introduction of the upcoming
token staking feature, 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 is currently one of the projects heavily accumulated by whales.
шайлушай (Token) - The Smurf Cat concept
memecoin has surged to historical highs in recent days following several weeks of adjustments from its initial base. Numerous prominent influencers endorsed the token. It has a 24-hour trading volume of US$8.1 million and a market cap of US$21 million.
JOE (Token) - Represented by a yellow cartoon expression, this memecoin experienced a surge of more than 50x on the secondary market shortly after its recent launch. Renowned influencers like Pranksy and Lawliette have recommended it. Today, it surged past its previous high, with a 24-hour trading volume of US$4.52 million and a market cap of US$12 million.
HAY (Token) - A token initially created for testing purposes by Uniswap founder Hayden. According to Scopescan, Hayden Adams transferred 51.59 HAY (approximately US$213.9 million) to a burn address approximately half an hour ago. Currently, 95.32% of HAY tokens have been burnt. HAY has a 24-hour trading volume of US$7.92 million and a current market cap of US$12.5 million.
MATIC (Token) - Polygon has deployed the POL contract to the Ethereum mainnet, with a total token supply of 10,000,028,681. So far, 10 million MATIC tokens have been migrated. POL is designed to evolve from MATIC and align with the architecture of the upcoming Polygon 2.0 upgrade. Polygon 2.0 is a roadmap for expanding Ethereum to build an internet layer of value.
STG (Token) - Stargate is a liquidity transfer protocol and the core project of the LayerZero ecosystem. Currently, the number of unique addresses staking its STG token has reached 1.1 million, with over 40 million STG tokens being staked. With Stargate, users and DApps can transfer native assets across 7 chains (with more to come in the future). The project token, STG, has been listed on Bitget.
2.Popular NFTs:
NFT (Others) - With the general market rebound, the
price of ETH has bounced back nearly 20% over the past week, leading to a contraction in trading volume in the NFT market, which is primarily priced in ETH.
3.Popular DApps:
Uniswap (DApp) - The official platform announced that the governance community has approved a US$46.2 million grant for the Uniswap Foundation to support its operations over the next two years. Recent on-chain data shows that the Uniswap Foundation has transferred 6.8 million UNI tokens to a new address and FalconX. Additionally, an address associated with the Uniswap Foundation transferred 3 million UNI tokens to Wintermute's Kraken deposit address.
SecondLive (DApp) - The metaverse project SecondLive, based on BSC, is a
Web3 project specifically designed for fostering virtual social networks and bolstering the creator economy. It introduces a multifaceted 3D virtual environment where participants can embody their preferred virtual avatars and indulge in various real-world activities, including virtual exhibitions, singing, dancing, and shopping. Users can also leverage the SecondLive Avatar to create their content and profit from it.
Arbitrum (DApp) - Arbitrum hinted in a tweet that there might be a significant update coming tomorrow, causing a general surge in its ecosystem projects. As the chain with the highest TVL among current Layer 2 protocols, with a TVL reaching US$1.8 billion, it ranks 42nd in terms of token market cap. With the upcoming Cancun upgrade, it is set to garner market attention.
Aerodrome (DApp) - Currently the DeFi protocol with the largest TVL in the Base ecosystem, Aerodrome operates as a DEX utilizing the Ve(3,3) mechanism. The current TVL stands at US$55 million, falling by more than 70% from its peak. The new round of incentive token distribution plan is under voting.
Friend.tech (DApp) - Friend.tech has seen a significant decline in daily active users. Recently, several FriendTech replicas have emerged, such as PostTech and Cipher on Arbitrum, Friend3V1 on BSC, and Tomo on Linea. These platforms offer a smoother user experience than FriendTech, capturing a portion of its traffic. Recently, Vombatus, the former leader of the Keys price list, sold 176 of their own Keys for 852 ETH, an act of cashing out that has shaken market confidence.
Chingari (DApp) - Chingari is currently the fastest-growing short video application in India, once boasting millions of daily active users. Users can upload and share short videos with the entire world within the app. Each video upload earns users GARI token rewards. However, due to the overall low UAW on the Solana chain, Chingari's total UAW is not at a high level.
Maestro (DApp) - Maestro is a
cryptocurrency tool suite designed for Telegram users, intended to provide a one-stop solution for
cryptocurrency trading and management. The project offers features such as multi-chain Sniper Bot, wallet tracking, automatic purchasing, and a variety of trading strategies, making it popular among on-chain participants.
4.Twitter Hot Topics:
TRB (Token) - TRB is a token that has performed notably on the secondary market. Its contract maintained a high fee rate for two days, resulting in a significant difference between the spo
t price and the contract price, which then led to substantial short-selling costs for users shorting the contract. The project continues to rise, involving certain risks for participants. Bitget has listed this project's token and contract.
5.Regional Trending Searches:
Bitcoin (Token) - Market expectations for the approval of a spot Bitcoin ETF have been fully digested, with BTC's price experiencing minor fluctuations around US$34,500. The market anticipates a high chance of success for the spot Bitcoin ETF, making it a favorable moment for investors to acquire the token.
Main Body
Written by: Bitget Research
Data collection time: October 26, 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) - A BRC-20 token, SATS, represents the smallest unit of Bitcoin, satoshi, with a total supply of 21 million. The mint gas fee alone exceeds US$15 million. Unisat officially proposes using it as the gas fee consumption token for testing the BRC-20 DEX.
2.Blockchain Profile - ETH Chain
2.1 User Profile
2.1.1 Core Data
Total active users on ETH: 398,020
New active users on ETH: 77,912, with a daily decrease of 3.49%
Existing active users on ETH: 320,108, with a daily decrease of 3.65%
2.1.2 New User Profile
Core data: There were a total of 77,912 new active users on ETH yesterday, with a daily decrease of 3.49%
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 and the introduction of the upcoming token staking feature, 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 is currently one of the projects heavily accumulated by whales.
2.1.3 Existing User Profile
Core data: The number of ETH active existing users is 320,108, with a daily decrease of 3.65%
Popular Sectors
Popular Projects
Key Projects:
Uniswap (DApp) - The official platform announced that the governance community has approved a US$46.2 million grant for the Uniswap Foundation to support its operations over the next two years. Recent on-chain data shows that the Uniswap Foundation has transferred 6.8 million UNI tokens to a new address and FalconX. Additionally, an address associated with the Uniswap Foundation transferred 3 million UNI tokens to Wintermute's Kraken deposit address.
2.2 Popular Trading Pairs
2.2.1 Uniswap V2
шайлушай (Token) - The Smurf Cat concept memecoin has surged to historical highs in recent days following several weeks of adjustments from its initial base. Numerous prominent influencers endorsed the token. It has a 24-hour trading volume of US$8.1 million and a market cap of US$21 million.
JOE (Token) - Represented by a yellow cartoon expression, this memecoin experienced a surge of more than 50x on the secondary market shortly after its recent launch. Renowned influencers like Pranksy and Lawliette have recommended it. Today, it surged past its previous high, with a 24-hour trading volume of US$4.52 million and a market cap of US$12 million.
2.2.2 Uniswap V3
HAY (Token) - A token initially created for testing purposes by Uniswap founder Hayden. According to Scopescan, Hayden Adams transferred 51.59 HAY (approximately US$213.9 million) to a burn address approximately half an hour ago. Currently, 95.32% of HAY tokens have been burnt. HAY has a 24-hour trading volume of US$7.92 million and a current market cap of US$12.5 million.
3.Blockchain Profile - BSC
3.1 User Profile
3.1.1 Core Data
Total active users on BSC: 1,078,955
New active users on BSC: 160,161, with a daily increase of 0.89%
Existing active users on BSC: 918,794, with a daily increase of 0.84%
3.1.2 New User Profile
Core data: There were a total of 160,161 new active users on BSC yesterday, with a daily increase of 0.89%
Popular Sectors
Popular Projects
Key Projects:
TinyTap Game Events Contract (DApp) - TinyTap is an educational content technology company in which Animoca Brands owns more than 80% of the shares. The company acquired a majority stake in TinyTap for a price of US$38.88 million. Established in 2012, TinyTap is a platform that enables educators to create and publish content, a model known as user-generated content (UGC). Additionally, educators can earn through a revenue-sharing model based on usage.
3.1.3 Existing User Profile
Core data: The number of BSC active existing users is 918,794, with a daily increase of 0.84%
Popular Sectors
Popular Projects
Key Projects:
SecondLive (DApp) - The metaverse project SecondLive, based on BSC, is a Web3 project specifically designed for fostering virtual social networks and bolstering the creator economy. It introduces a multifaceted 3D virtual environment where participants can embody their preferred virtual avatars and indulge in various real-world activities, including virtual exhibitions, singing, dancing, and shopping. Users can also leverage the SecondLive Avatar to create their content and profit from it.
3.2 Popular Trading Pairs
3.2.1 PancakeSwap V2
In the BSC ecosystem, aside from BNB, which has the highest trading volume, the remaining tokens are primarily replicas and high-risk memecoins, presenting substantial risk.
4.Blockchain Profile - Polygon Chain
4.1 User Profile
4.1.1 Core Data
Total active users on Polygon: 392,180
New active users on Polygon: 72,507, with a daily decrease of 5.60%
Existing active users on Polygon: 319,673, with a daily decrease of 0.85%
4.1.2 New User Profile
Core data: There were a total of 72,507 new active users on Polygon yesterday, with a daily decrease of 5.60%
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 319,673, with a daily decrease of 0.85%
Popular Sectors
Popular Projects
Key Projects:
Project Galaxy (DApp) - Project Galaxy commits to building the world's largest Web3 credential data network, offering a platform where Web3 projects and developers can leverage meticulously curated credential data to build improved products and communities. Credential data essentially comprises the records forming our digital identities. Project Galaxy recognizes that such data is isolated within closed and permissioned databases owned by various parties (like governments, financial, and credit institutions), preventing access by individuals and companies that could best utilize it. Project Galaxy aims to establish a credential data network that is open and collaborative for all Web3 developers.
4.2 Popular Trading Pairs
4.2.1 Uniswap V3
MATIC (Token) - Polygon has deployed the POL contract to the Ethereum mainnet, with a total token supply of 10,000,028,681. So far, 10 million MATIC tokens have been migrated. POL is designed to evolve from MATIC and align with the architecture of the upcoming Polygon 2.0 upgrade. Polygon 2.0 is a roadmap for expanding Ethereum to build an internet layer of value.
5.Blockchain Profile - Arbitrum Chain
5.1 User Profile
5.1.1 Core Data
Total Active Users on Arbitrum: 127,694
New Active Users on Arbitrum: 17,687, with a daily decrease of 8.49%
Existing Active Users on Arbitrum: 110,007, with a daily decrease of 0.59%
5.1.2 New User Profile
Core data: There were a total of 17,687 new active users on Arbitrum yesterday, with a daily decrease of 8.49%
Popular Sectors
Popular Projects
Key Projects:
Arbitrum (DApp) - Arbitrum hinted in a tweet that there might be a significant update coming tomorrow, causing a general surge in its ecosystem projects. As the chain with the highest TVL among current Layer 2 protocols, with a TVL reaching US$1.8 billion, it ranks 42nd in terms of token market cap. With the upcoming Cancun upgrade, it is set to garner market attention.
5.1.3 Existing User Profile
Core data: The number of Arbitrum active existing users is 110,007, with a daily decrease of 0.59%
Popular Sectors
Popular Projects
Key Projects:
Apex Protocol (DApp) - Known as ApeX, the Apex Protocol is a decentralized, non-custodial, permissionless, and censorship-resistant perpetual derivatives protocol, designed to introduce perpetual swap markets for any token pairs. The protocol allows users to delegate crypto derivatives on the Ethereum blockchain without the need for any intermediaries, while maintaining full control over their private keys. Benefiting from recent market fluctuations, the protocol has recently shown a notable performance on Arbitrum.
5.2 Popular Trading Pairs
5.2.1 Uniswap V3
STG (Token) - Stargate is a liquidity transfer protocol and the core project of the LayerZero ecosystem. Currently, the number of unique addresses staking its STG token has reached 1.1 million, with over 40 million STG tokens being staked. With Stargate, users and DApps can transfer native assets across 7 chains (with more to come in the future). The project token, STG, has been listed on Bitget.
6.Blockchain Profile - Base Chain
6.1 User Profile
6.1.1 Core Data
Total Active Users on Base: 79,157
New Active Users on Base: 18,493, with a daily increase of 23.74%
Existing Active Users on Base: 60,664, with a daily increase of 10.29%
6.1.2 New User Profile
Core data: There were a total of 18,493 new active users on Base yesterday, with a daily increase of 23.74%
Popular Sectors
Popular Projects
Key Projects:
Aerodrome (DApp) - Currently the DeFi protocol with the largest TVL in the Base ecosystem, Aerodrome operates as a DEX utilizing the Ve(3,3) mechanism. The current TVL stands at US$55 million, falling by more than 70% from its peak. The new round of incentive token distribution plan is under voting.
6.1.3 Existing User Profile
Core data: The number of Base active existing users is 60,664, with a daily increase of 10.29%
Popular Sectors
Popular Projects
Key Projects:
Friend.tech (DApp) - Friend.tech has seen a significant decline in daily active users. Recently, several FriendTech replicas have emerged, such as PostTech and Cipher on Arbitrum, Friend3V1 on BSC, and Tomo on Linea. These platforms offer a smoother user experience than FriendTech, capturing a portion of its traffic. Recently, Vombatus, the former leader of the Keys price list, sold 176 of their own Keys for 852 ETH, an act of cashing out that has shaken market confidence.
7. DApp Ecosystem - All Chains
Sweat Economy (DApp) - A traditional Web2 project that has transitioned to a Web3 wallet and a "Move to Earn" project, with currently 5 million downloads on Google Play. Users can earn SWEAT tokens through its Sweat Wallet application by engaging in daily physical activities.
8.DApp Ecosystem - ETH Chain
Polygon POS Bridge (DApp) - Polygon has deployed the POL contract to the Ethereum mainnet, with a total token supply of 10,000,028,681. So far, 10 million MATIC tokens have been migrated. POL is designed to evolve from MATIC and align with the architecture of the upcoming Polygon 2.0 upgrade. Polygon 2.0 is a roadmap for expanding Ethereum to build an internet layer of value.
9.DApp Ecosystem - BSC
SecondLive (DApp) - The metaverse project SecondLive, based on BSC, is a Web3 project specifically designed for fostering virtual social networks and bolstering the creator economy. It introduces a multifaceted 3D virtual environment where participants can embody their preferred virtual avatars and indulge in various real-world activities, including virtual exhibitions, singing, dancing, and shopping. Users can also leverage the SecondLive Avatar to create their content and profit from it.
10.DApp Ecosystem - Polygon Chain
GOQii (DApp) - India's leading smart preventive healthcare platform, Force of Good Foundation (FoG) is gearing up to launch the Universal Health Token (UHT) in a phased manner over the next few quarters. Current partners of the UHT token include GOQii, Animoca Brands, and IndiGG. GOQii is a Web2 project that transitioned to
blockchain technology and recently the UAW has seen significant growth.
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
Chingari (DApp) - Chingari is currently the fastest-growing short video application in India, once boasting millions of daily active users. Users can upload and share short videos with the entire world within the app. Each video upload earns users GARI token rewards. However, due to the overall low UAW on the Solana chain, Chingari's total UAW is not at a high level.
13.DApp Ecosystem - Arbitrum Chain
Galxe (DApp) - Also known as Project Galaxy, Galxe is a leading credential data network based on Web3, established in 2021. This project fosters open and collaborative infrastructure, enabling brands and developers to interact with communities and build robust products within the Web3 environment. Galxe creates a "Galaxy ID" for each wallet user, integrating the user's NFTs, OATs, and on-chain credential information acquired on the platform, aiming to construct a decentralized identity system based on Web3.
14.DApp Ecosystem - Base Chain
Friend.tech (DApp) - Friend.tech has seen a significant decline in daily active users. Recently, several FriendTech replicas have emerged, such as PostTech and Cipher on Arbitrum, Friend3V1 on BSC, and Tomo on Linea. These platforms offer a smoother user experience than FriendTech, capturing a portion of its traffic. Recently, Vombatus, the former leader of the Keys price list, sold 176 of their own Keys for 852 ETH, an act of cashing out that has shaken market confidence.
15.DApp Ecosystem - GameFi Sector Across All Chains
Alien Worlds (DApp) - Alien Worlds is a blockchain-based game and one of the fastest-growing games on the blockchain, as well as one of the largest DApps. In this virtual economy, players compete for scarce resources like Trilium (TLM) by mining, battling, questing, and leasing land. They use these resources to bolster their power within the game through proof of stake and voting.
16.Gas Fee Consumption - ETH Chain
Maestro (DApp) - Maestro is a cryptocurrency tool suite designed for Telegram users, intended to provide a one-stop solution for cryptocurrency trading and management. The project offers features such as multi-chain Sniper Bot, wallet tracking, automatic purchasing, and a variety of trading strategies, making it popular among on-chain participants.
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
Galxe (DApp) - Galxe is a leading credential data network based on Web3, established in 2021. This project fosters open and collaborative infrastructure, enabling brands and developers to interact with communities and build robust products within the Web3 environment. Galxe creates a "Galaxy ID" for each wallet user, integrating the user's NFTs, OATs, and on-chain credential information acquired on the platform, aiming to construct a decentralized identity system based on Web3.
19.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. Today, the community discovered and verified from the official gitbook, that LayerZero has added "ZRO withdrawal" support to its 18 existing chains, increasing the prospects of token issuance and airdrop expectations. The project is in collaboration with VEXT, and VEXT will use LayerZero's services as its foundational infrastructure.
20.Gas Fee Consumption - Base Chain
Odos (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.
21.Twitter Trends Token Top Rank
TRB (Token) - TRB is a token that has performed notably on the secondary market. Its contract maintained a high fee rate for two days, resulting in a significant difference between the spot price and the contract price, which then led to substantial short-selling costs for users shorting the contract. The project continues to rise, involving certain risks for participants. Bitget has listed this project's token and contract.
22.Google Trends - Global
Bitcoin (Token) - Market expectations for the approval of a spot Bitcoin ETF have been fully digested, with BTC's price experiencing minor fluctuations around US$34,500. The market anticipates a high chance of success for the spot Bitcoin ETF, making it a favorable moment for investors to acquire the token.
23.Google Trends Surge - East Asia, South Asia, Southeast Asia, Hong Kong, Macau, and Taiwan
a) South Asia Region
Pakistan Trends: CoinPayu, BTC, Fancy, Crypto Box
b) Southeast Asia Region
Philippines Trends: FTX,
Crypto prices
Malaysia Trends: BTC
Vietnam Trends:
TradingView, Coingecko
Singapore Trends: LINK, BTC, ADA
c) East Asia and Hong Kong, Macau, and Taiwan
Hong Kong Trends: Crypto
24.Google Trends Surge - English-speaking Countries, Europe, CIS Region
a) CIS Region Trends: Crypto Casino
b) English-speaking Countries
Australia Trends: Moonriver, AUS, XRP
Canada Trends: America, ATOM, CFX, BONK, Milady, GME, XRP
UK Trends: ARKM, BEN, XDC, BTC, Pulse
USA Trends: Maestro, Bad Bunny Tour
c) Europe
France Trends: 1inch, PPT, AKT
Italy Trends: Pepe, PYR, SLP, TRB, EGLD, NTRN
Turkey Trends: Roller Coin, Yuki crypto 125
Belgium Trends: Jasmy, Algeria, XEN
Poland Trends: Pulsex, LISK, ATOM
Switzerland Trends: BTC, HEX, Solana, ETH
25.Google Trends Surge - Middle East, Latin America, Africa
a) Africa
Morocco Trends: Luffy, BTC, SOLANA
b) Middle East
Israel Trends: Crypto Bubbles, Coinbase
UAE Trends: MINA, BTC, uniswap
c) Latin America
Mexico Trends: PEPE, MAMA, SHIB
Brazil Trends: BTC, AAVE, GALA, ERGO, MINA, ATOM
Argentina Trends: LINK, XRP, SHIB, MINA, CAKE, SOL
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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