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Bitget Research: Fed Pauses Rate Hikes in November, Bitcoin Briefly Surpasses US$35,000
Bitget Research
2023/11/02
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:
SATS (Token) - SATS token is a BR-20 token conceptually based on the smallest unit of Bitcoin, Satoshi, with a total supply of 21 million. The minting process alone consumed over US$15 million in gas fees. Unisat officially proposed using it as the gas fee consumption token on the BRC-20 DEX. With the official launch of Unisat's BRC-20 Swap, the trading volume for SATS has increased, reaching a 24-hour on- XCNUSDT">
chain trading volume of US$770,000. Over the past 24 hours, the price has risen by 50%, and the market cap has surpassed US$90 million.
AMO (Token) - Amino, a Move2Earn network focusing on sports, health, and fitness rewards, has partnered with the NFL team Washington Commanders. The Amino Move app has already reached 500,000 downloads on Google Play. The token was launched with an on-chain TGE today and is experiencing high popularity. Its market cap has surpassed US$100 million, with a 24-hour trading volume of US$11 million.
DORK (Token) - A token project launched by the NFT influencer SrPetersETH, which has garnered significant community interest. The project’s Twitter Space event saw participation from over 2000 users, and its official tweets have been retweeted by Dextools. The token currently has a 24-hour trading volume of US$1.45 million, with a market cap of US$1 million.
BUSD (Token) - According to an official announcement from Binance, the exchange will remove 25 BUSD
spot trading pairs on November 3rd. The scale and usage scenarios of BUSD continue to decrease, exerting pressure on the activity level of the BSC.
SUSHI (Token) - Recently, SushiXSwap V2 was launched, enabling cross-chain trades across 7 different chains using universal USDC without the need for other chains' gas fee tokens. As the market recovered and trading volume increased, the project's DAU grew. SUSHI leads the surge among DEX governance tokens, with its price increasing by over 50% in the past 24 hours and a trading volume of US$400 million during the same period.
RDNT (Token) - The multi-chain lending protocol, Radiant Capital, has launched on the Ethereum mainnet today. A total of 500,000 ARB tokens will be airdropped to all 6-12 month dLP lockers on the mainnet. The first snapshot for Starfleet season 2 commenced at Ethereum block height of 18479253, with the snapshot window concluding within 30-60 days.
2.Popular NFTs:
Bored Ape Yacht Club (NFT) - Yuga Labs IP series, BAYC, saw a surge in trading volume as the project's official token APECOIN rebounded by over 30% from its bottom. It topped the NFT rankings with a trading volume of US$4.86 million and also experienced a rebound in price.
Layer3 (NFT) - NFTs by Layer3 project, issued on Polygon, with over 480,000 holders on-chain. To participate in their latest promotion and obtain a limited edition commemorative ONFT, users need to have completed tasks, such as having made a transaction on LayerZero paired with a retweet.
Boo-Bear (NFT) - This collection consists of 271 horror-themed bear NFTs related to Halloween. The project has a high trading volume in the secondary market, with a tota l trading volume of 1,240 ETH and a floor price of 8 ETH. The project is developed by Berchain's team, and holding NFTs can generate passive income.
3.Popular DApps:
Uniswap (DApp) - DEX governance tokens have seen a general uptrend, with UNI experiencing a surge of over 20% in the past 24 hours. Affected by the recent token sale of the Uniswap Foundation, its price is relatively weak compared to the broader market. However, following SUSHI's lead in gains yesterday, UNI's price has made a breakthrough.
StarkEx (DApp) - StarkNet will distribute 50 million STRK tokens to early ecosystem contributors. This initiative, termed the "Early Community Member Program" (ECMP), aims to reward individual contributors who encourage technical discussions, organize StarkNet-related events, and regularly release StarkNet branded content. Individuals and projects must apply for the rewards and provide detailed information about their contributions.
Stargate (DApp) - The renowned cross-chain project Stargate recently announced that its token has been voted through in the AAVE DAO and is set to launch on the AAVE lending platform. The Stargate platform boasts commendable cash flow revenue, and with the increase of chains and the number of tokens the project supports, its income is expected to grow further.
Friend.Tech (DApp) - Friend.Tech currently maintains a stable TVL at around US$41 million. However, the protocol's trading activity has noticeably decreased, with daily fees in the past five days falling short of US$100,000, which is a decline of over 60% from earlier figures.
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. LayerZero has added "ZRO withdrawal" support to its 18 existing chains.
Raydium (DApp) - Raydium is a DEX based on the Solana blockchain. Influenced by the price surge in SOL, its ecosystem token RAY has also experienced a surge, exceeding 60%. After a substantial bottoming out and consolidation, the price has returned to a three-month high. Technical indicators show the Relative Strength Index (RSI) has risen to an appropriate range, indicating strong short-term momentum.
Galxe (DApp) - A Web3-based credential data network, Galxe fosters an open and collaborative infrastructure, enabling brands and developers to interact with their communities and build robust products within the Web3 environment. Recently, Galxe officially launched Galxe AI, a chatbot proficient in cryptocurrencies. It is powered by ALVA and is in the whitelist testing phase.
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. It has a TVL of US$57 million and a 24-hour trading volume of US$1.14 million, with increased activity due to market conditions.
Scroll (DApp) - The open-source Ethereum scalability solution, Scroll, has officially announced its launch on the mainnet. The Scroll mainnet will initially be inhabited by infrastructure providers, subsequently supporting the deployment of various projects and development tools. This move enables global developers to start building Web3 products, ultimately encouraging new users to join the Ethereum community. Scroll's mainnet currently has 48,000 unique active accounts, with a total DeFi TVL of US$28 million. There is significant potential for airdrop opportunities in the future, making it an important project to keep on your radar.
4.Twitter Hot Topics:
ARB (Token) - Recently, a whale spent 843 ETH (US$1.5 million) to buy 1.61 million ARB tokens at an average price of US$0.95 each. Projects within the Arbitrum ecosystem, such as Radiant, are utilizing the ARB token for their operational activities, including airdrops to incentivize users to stake dLP on the Ethereum mainnet and the Arbitrum chain.
5.Regional Trending Searches:
There is no content for today due to anomalies in the data source.
Main Body
Written by: Bitget Research
Data collection time: November 2, 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 minting process alone consumed over US$15 million in gas fees. Unisat officially proposed using it as the gas fee consumption token on the BRC-20 DEX. With the official launch of Unisat's BRC-20 Swap, the trading volume for SATS has increased, reaching a 24-hour on-chain trading volume of US$770,000. Over the past 24 hours, the price has risen by 50%, and the market cap has surpassed US$90 million.
2.Blockchain Profile - ETH Chain
2.1 User Profile
2.1.1 Core Data
Total active users on ETH: 395,444
New active users on ETH: 70,691, with a daily decrease of 16.29%
Existing active users on ETH: 324,753, with a daily increase of 4.81%
2.1.2 New User Profile
Core data: There were a total of 70,691 new active users on ETH yesterday, with a daily decrease of 16.29%
Popular Sectors
Popular Projects
Key Projects:
Uniswap (DApp) - DEX governance tokens have seen a general uptrend, with UNI experiencing a surge of over 20% in the past 24 hours. Affected by the recent token sale of the Uniswap Foundation, its price is relatively weak compared to the broader market. However, following SUSHI's lead in gains yesterday, UNI's price has made a breakthrough.
2.1.3 Existing User Profile
Core data: The number of ETH active existing users is 324,753, with a daily increase of 4.81%
Popular Sectors
Popular Projects
Key Projects:
StarkEx (DApp) - StarkNet will distribute 50 million STRK tokens to early ecosystem contributors. This initiative, termed the "Early Community Member Program" (ECMP), aims to reward individual contributors who encourage technical discussions, organize StarkNet-related events, and regularly release StarkNet branded content. Individuals and projects must apply for the rewards and provide detailed information about their contributions.
2.2 Popular Trading Pairs
2.2.1 Uniswap V2
AMO (Token) - Amino, a Move2Earn network focusing on sports, health, and fitness rewards, has partnered with the NFL team Washington Commanders. The Amino Move app has already reached 500,000 downloads on Google Play. The token was launched with an on-chain TGE today and is experiencing high popularity. Its market cap has surpassed US$100 million, with a 24-hour trading volume of US$11 million.
2.2.2 Uniswap V3
DORK (Token) - A token project launched by the NFT influencer SrPetersETH, which has garnered significant community interest. The project’s Twitter Space event saw participation from over 2000 users, and its official tweets have been retweeted by Dextools. The token currently has a 24-hour trading volume of US$1.45 million, with a market cap of US$1 million.
2.3 Popular NFTs
2.3.1 Top NFT Collections
Bored Ape Yacht Club (NFT) - Yuga Labs' IP series, BAYC, saw a surge in trading volume as the project's official token APECOIN rebounded by over 30% from its bottom. It topped the NFT rankings with a trading volume of US$4.86 million and also experienced a rebound in price.
3.Blockchain Profile - BSC
3.1 User Profile
3.1.1 Core Data
Total active users on BSC: 1,078,320
New active users on BSC: 176,337, with a daily increase of 9.47%
Existing active users on BSC: 901,983, with a daily decrease of 1.98%
3.1.2 New User Profile
Core data: There were a total of 176,337 new active users on BSC yesterday, with a daily increase of 9.47%
Popular Sectors
Popular Projects
Key Projects:
BUSD (Token) - According to an official announcement from Binance, the exchange will remove 25 BUSD spot trading pairs on November 3rd. The scale and usage scenarios of BUSD continue to decrease, exerting pressure on the activity level of the BSC.
3.1.3 Existing User Profile
Core data: The number of BSC active existing users is 901,983, with a daily decrease of 1.98%
Popular Sectors
Popular Projects
Key Projects:
PlaybuxQuest (DApp) - Playbux is a project that combines e-commerce with a metaverse platform. It offers a store and profit system that allows users to shop from global merchants and earn cashback rewards. The platform aims to integrate existing exchanges, lending platforms, and NFTs so customers can access all services in one place. By leveraging mobile accessibility, Playbux positions itself as the most accessible metaverse where users can earn Playbux tokens by receiving cashback on any purchase. Users can select merchants from the activity page and shop as usual. It also offers opportunities through shopping, playing mini-games, NFTs, and M2E, among others.
3.2 Popular Trading Pairs
3.2.1 PancakeSwap V2
Currently, there are no
memecoins on the BSC that maintain long-term popularity. Their trends are typically short-lived. Caution is advised due to the associated risks.
4.Blockchain Profile - Polygon Chain
4.1 User Profile
4.1.1 Core Data
Total active users on Polygon: 405,217
New active users on Polygon: 79,729, with a daily decrease of 3.51%
Existing active users on Polygon: 325,488, with a daily increase of 0.03%
4.1.2 New User Profile
Core data: There were a total of 79,729 new active users on Polygon yesterday, with a daily decrease of 3.51%
Popular Sectors
Popular Projects
Key Projects:
Kratos Cash (Token) - Recently, the token has experienced a substantial number of distribution transfers on Polygon, with the current number of holders reaching 178,000 addresses. However, liquidity has not yet been deployed on the chain, making it impossible to confirm which project the token belongs to for the time being.
4.1.3 Existing User Profile
Core Data: The number of Polygon active existing users is 325,488, with a daily increase of 0.03%
Popular Sectors
Popular Projects
Key Projects:
Layer3 (NFT) - NFTs by Layer3 project, issued on Polygon, with over 480,000 holders on-chain. To participate in their latest promotion and obtain a limited edition commemorative ONFT, users need to have completed tasks, such as having made a transaction on LayerZero paired with a retweet.
4.2 Popular Trading Pairs
4.2.1 Uniswap V3
SUSHI (Token) - Recently, SushiXSwap V2 was launched, enabling cross-chain trades across 7 different chains using universal USDC without the need for other chains' gas fee tokens. As the market recovered and trading volume increased, the project's DAU grew. SUSHI leads the surge among DEX governance tokens, with its price increasing by over 50% in the past 24 hours and a trading volume of US$400 million during the same period.
5.Blockchain Profile - Arbitrum Chain
5.1 User Profile
5.1.1 Core Data
Total Active Users on Arbitrum: 146,512
New Active Users on Arbitrum: 20,648, with a daily decrease of 8.78%
Existing Active Users on Arbitrum: 125,864, with a daily increase of 6.49%
5.1.2 New User Profile
Core data: There were a total of 20,648 new active users on Arbitrum yesterday, with a daily decrease of 8.78%
Popular Sectors
Popular Projects
Key Projects:
Stargate (DApp) - The renowned cross-chain project Stargate recently announced that its token has been voted through in the AAVE DAO and is set to launch on the AAVE lending platform. The Stargate platform boasts commendable cash flow revenue, and with the increase of chains and the number of tokens the project supports, its income is expected to grow further.
5.1.3 Existing User Profile
Core data: The number of Arbitrum active existing users is 125,864, with a daily increase of 6.49%
Popular Sectors
Popular Projects
Key Projects:
Arbitrum (DApp) - PlutusDAO has initiated a proposal on the Arbitrum forum, suggesting the activation of ARB staking and distributing token inflation to users who lock their tokens. The Arbitrum DAO has the authority to mint 2% of the total ARB supply annually as inflation, with the first opportunity to mint tokens being March 15, 2024 (the minting function can only be called once a year). PlutusDAO proposes minting 1.75% of the token supply and distributing it within a year.
5.2 Popular Trading Pairs
5.2.1 Uniswap V3
RDNT (Token) - The multi-chain lending protocol, Radiant Capital, has launched on the Ethereum mainnet today. A total of 500,000 ARB tokens will be airdropped to all 6-12 month dLP lockers on the mainnet. The first snapshot for Starfleet season 2 commenced at Ethereum block height of 18479253, with the snapshot window concluding within 30-60 days.
6.Blockchain Profile - Base Chain
6.1 User Profile
6.1.1 Core Data
Total Active Users on Base: 73,631
New Active Users on Base: 12,840, with a daily increase of 3.77%
Existing Active Users on Base: 60,791, with a daily increase of 2.63%
6.1.2 New User Profile
Core data: There were a total of 12,840 new active users on Base yesterday, with a daily increase of 3.77%
Popular Sectors
Popular Projects
Key Projects:
Friend.Tech (DApp) - Friend.Tech currently maintains a stable TVL at around US$41 million. However, the protocol's trading activity has noticeably decreased, with daily fees in the past five days falling short of US$100,000, which is a decline of over 60% from earlier figures.
6.1.3 Existing User Profile
Core data: The number of Base active existing users is 60,791, with a daily increase of 2.63%
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. LayerZero has added "ZRO withdrawal" support to its 18 existing chains.
7. DApp Ecosystem - All Chains
TinyTap (DApp) - TinyTap is a vast library of games created by educators. Now under the umbrella of Animoca Brands, the project is dedicated to forging an open, blockchain-driven educational ecosystem. TinyTap offers a no-code platform, enabling educators to create and share interactive educational content and earn a share of the revenue when learners utilize their content. Creators can craft TinyTap content and activities via TinyTap's iPad application or its website.
8.DApp Ecosystem - ETH Chain
Amino Move (DApp) - Amino, a Move2Earn network focusing on sports, health, and fitness rewards, has partnered with the NFL team Washington Commanders. The Amino Move app has already reached 500,000 downloads on Google Play. The token was launched with an on-chain TGE today and is experiencing high popularity. Its market cap has surpassed US$100 million, with a 24-hour trading volume of US$11 million.
9.DApp Ecosystem - BSC
Hooked (DApp) - A Binance Launchpad project and a Web3 education concept. Its AI-like product, Hooked Academy Sensei, will cooperate with OpenCampus to create the learning experience of the future, primarily used by a user group on the APP. Its wallet has been officially launched, garnering a lot of attention.
10.DApp Ecosystem - Polygon Chain
Jump.Trade (DApp) - Jump.trade is a significant gaming NFT marketplace on Polygon, where a substantial number of users have recently been trading NFTs. The platform enjoys considerable traffic, making it an essential one to keep an eye on.
11.DApp Ecosystem - WAX Chain
Alien Worlds (DApp) - "Alien Worlds" is a rapidly growing, blockchain-based game and is among the largest DApps currently. It was co-founded by Sarojina McKenna and Michael Yeates. Elevating the concept of blockchain gaming to a new tier, the project combines non-fungible tokens (NFTs) with interstellar/alien fantasies to provide users with an immersive and robust gaming experience that rewards them innovatively. Alien Worlds is a decentralized NFT metaverse where players compete for the scarce resource Trilium (TLM) in a planet-centric exciting economy. They can amplify their influence in the game by voting and staking within decentralized autonomous organizations (Planet DAOs) on the planets.
12.DApp Ecosystem - Solana Chain
Raydium (DApp) - Raydium is a DEX based on the Solana blockchain. Influenced by the price surge in SOL, its ecosystem token RAY has also experienced a surge, exceeding 60%. After a substantial bottoming out and consolidation, the price has returned to a three-month high. Technical indicators show the Relative Strength Index (RSI) has risen to an appropriate range, indicating strong short-term momentum.
13.DApp Ecosystem - Arbitrum Chain
Galxe (DApp) - A Web3-based credential data network, Galxe fosters an open and collaborative infrastructure, enabling brands and developers to interact with their communities and build robust products within the Web3 environment. Recently, Galxe officially launched Galxe AI, a chatbot proficient in cryptocurrencies. It is powered by ALVA and is in the whitelist testing phase.
14.DApp Ecosystem - Base Chain
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. It has a TVL of US$57 million and a 24-hour trading volume of US$1.14 million, with increased activity due to market conditions.
15.DApp Ecosystem - GameFi Sector Across 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.
16.Gas Fee Consumption - ETH Chain
Scroll (DApp) - The open-source Ethereum scalability solution, Scroll, has officially announced its launch on the mainnet. The Scroll mainnet will initially be inhabited by infrastructure providers, subsequently supporting the deployment of various projects and development tools. This move enables global developers to start building Web3 products, ultimately encouraging new users to join the Ethereum community. Scroll's mainnet currently has 48,000 unique active accounts, with a total DeFi TVL of US$28 million. There is significant potential for airdrop opportunities in the future, making it an important project to keep on your radar.
17.Gas Fee Consumption - BSC
Seg Finance (DApp) - A Play2Earn project on the BSC, where users can stake their shoe NFTs or provide liquidity to earn passive BNB profits. The project is now open source, and its contract on the BSC is transparent. It has over 1500 followers on Twitter and is an essential project to stay updated on.
18.Gas Fee Consumption - Polygon Chain
CoinTool (DApp) - A renowned on-chain toolbox, CoinTool, is frequently used for batch mining XEN. XEN is a social mining project based on the Proof of Participation (PoP) mechanism, enabling any
cryptocurrency user to connect a compatible Web3 wallet and mint XEN tokens on Ethereum. The tokenomics of this project depends on the number of users and the mint period. As the number of participants increases, the difficulty of minting also rises, reducing the supply.
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 November.
20.Gas Fee Consumption - Base Chain
Boo-Bear (NFT) - This collection consists of 271 horror-themed bear NFTs related to Halloween. The project has a high trading volume in the secondary market, with a total trading volume of 1,240 ETH and a floor price of 8 ETH. The project is developed by Berchain's team, and holding NFTs can generate passive income.
21.Twitter Trends Token Top Rank
ARB (Token) - Recently, a whale spent 843 ETH (US$1.5 million) to buy 1.61 million ARB tokens at an average price of US$0.95 each. Projects within the Arbitrum ecosystem, such as Radiant, are utilizing the ARB token for their operational activities, including airdrops to incentivize users to stake dLP on the Ethereum mainnet and the Arbitrum chain.
22-25.Google Trends
There is no content for this segment today due to anomalies in the data source.
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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