Bitget Research: Crypto Market Continues to Fluctuate, Ethereum Completes Cancun Upgrade on Goerli Testnet

In the past 24 hours, many new popular tokens and topics have emerged in the market, and perhaps they will be the next focus of the market.

In Summary:

1.Popular Tokens:

LIGO (Token) - A BRC-20 token with the Bitcoin Layer 2 concept, Ligo was deployed on December 3, 2023. It has recently experienced a sudden surge in minting activity, with the holder count surpassing 12,000. The minting phase has been completed. The BRC-20 token LIGO has shown decent performance in the secondary market and its future trend will depend on the progress of the project's development.

Memecoin (Token) - Last week, Memeland announced upcoming mining rewards. Over four million accounts have joined the mining activity. To filter out bots and prevent unfair advantage practices, each address must hold at least 69 MEME tokens and pass two CAPTCHA human verification tests. Users have approximately seven days to complete these compulsory quests.

FERRET (Token) - A memecoin representing the Apple AI project name. It achieved a market cap surpassing $8 million at one point, with a 24-hour trading volume of $9 million, indicating high interest.

ZUZALU (Token) - A memecoin capitalizing on a tweet from Vitalik Buterin. After its TGE in March, it briefly surged and then fell, followed by a period of inactivity. It recently experienced a sudden 40x increase in value within 24 hours and after a day's pullback surged again to a new high. It has a 24-hour DEX trading volume of $13.78 million, with a market cap of $19.66 million.

PENDLE (Token) - Recently, Pendle added LRT asset components, enabling users to gain more benefits related to LRT. The product's continuous iteration has received positive feedback from the community. Pendle's price has reached a new all-time high, with its product capabilities and rapid development also being recognized by speculative capital.

2.Popular NFTs:

Altlayer OG Badge NFT (NFT) - The Ethereum scaling project Altlayer will be launched on Binance Launchpool and has unveiled its tokenomics. AltLayer OG Badge NFT holders, Oh Ottie! NFT holders, qualified participants of Altitude promotions, qualified re-stakers from EigenLayer, and qualified stakers from Celestia will receive token airdrops. This announcement has led to an increase in the trading volume and price of the related NFTs.

3.Popular DApps:

BananaGun (DApp) - The Telegram Bot project, Banana Gun, has announced that its bot service has been launched on the Solana Network, with new features to be continually added following testing. Banana Gun has also established a collaboration with Jito. The project is currently in the testing phase for sniping and in-house limit order features.

Arbitrum (DApp) - The Arbitrum community has approved the "Long-Term Incentives Pilot Program" proposal. The program will distribute ARB tokens to protocols built on Arbitrum over 12 weeks, with a total cost of 45,815,000 ARB.

Circle (DApp) - Chainlink's Cross-Chain Interoperability Protocol (CCIP) has been integrated with Circle's Cross-Chain Transfer Protocol (CCTP), enabling users to transfer USDC across various blockchains. Additionally, developers can utilize CCIP to create cross-chain use cases involving USDC transfers, including payments and other DeFi interactions.

Jupiter (DApp) - Jupiter's co-founder announced that the JUP token will be launched on January 31. Before the launch of JUP, the team plans to test the new launch platform, focusing on two key areas. The first test involves mockJUP (a simulated version of the JUP token), and the second involves a memecoin set to be released next week.

Blast (DApp) - Developed by Pacman, the founder of Blur, the Layer 2 network Blast has announced the official launch of its testnet. Additionally, Blast has introduced the "Blast BIG BANG" promotion for developers. The winning DApp will be promoted to Blast users after the mainnet launch at the end of February, and 50% of the airdrop will be allocated to developers.

4.Twitter Hot Topics:

No data for this segment today due to anomalies in the data source.

5.Regional Trending Searches:

BTC (Token) - The market's focus is on the outflow of funds from Grayscale's GBTC, with the negative premium of GBTC nearing closure and the redemption pressure caused by BTC continuing. Overall, there is a net inflow of traditional funds into the crypto market via BTC ETFs, indicating that the decrease in BTC's value is likely to be limited.

Main Body

Written by: Bitget Research

Data collection time: January 18, 10:30 AM

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)

5) In this report, the term "Entity" refers to both Contract Account (CA) and Ethereum Original Account (EOA), and is not a result of the aggregation of actual entity addresses.

1.BTC Profile - BRC-20

LIGO (Token) - A BRC-20 token with the Bitcoin Layer 2 concept, Ligo was deployed on December 3, 2023. It has recently experienced a sudden surge in minting activity, with the holder count surpassing 12,000. The minting phase has been completed. The BRC-20 token LIGO has shown decent performance in the secondary market and its future trend will depend on the progress of the project's development.

2.Blockchain Profile - ETH Chain

2.1 User Profile

2.1.1 Core Data

Total active users on ETH: 409,588

New active users on ETH: 86,171, with a daily decrease of 6.01%

Existing active users on ETH: 323,417, with a daily increase of 1.16%

2.1.2 New User Profile

Core data: There were a total of 86,171 new active users on ETH yesterday, with a daily decrease of 6.01%

Popular Sectors

Popular Projects

Key Projects:

Memecoin (Token) - Last week, Memeland announced upcoming mining rewards. Over four million accounts have joined the mining activity. To filter out bots and prevent unfair advantage practices, each address must hold at least 69 MEME tokens and pass two CAPTCHA human verification tests. Users have approximately seven days to complete these compulsory quests.

2.1.3 Existing User Profile

Core data: The number of ETH active existing users is 323,417, with a daily increase of 1.16%

Popular Sectors

Popular Projects

Key Projects:

BananaGun (DApp) - The Telegram Bot project, Banana Gun, has announced that its bot service has been launched on the Solana Network, with new features to be continually added following testing. Banana Gun has also established a collaboration with Jito. The project is currently in the testing phase for sniping and in-house limit order features.

2.2 Popular Trading Pairs

2.2.1 Uniswap V2

FERRET (Token) - A memecoin representing the Apple AI project name. It achieved a market cap surpassing $8 million at one point, with a 24-hour trading volume of $9 million, indicating high interest.

2.2.2 Uniswap V3

ZUZALU (Token) - A memecoin capitalizing on a tweet from Vitalik Buterin. After its TGE in March, it briefly surged and then fell, followed by a period of inactivity. It recently experienced a sudden 40x increase in value within 24 hours and after a day's pullback surged again to a new high. It has a 24-hour DEX trading volume of $13.78 million, with a market cap of $19.66 million.

2.3 Popular NFTs

2.3.1 Top NFT Collections

Altlayer OG Badge NFT (NFT) - The Ethereum scaling project Altlayer will be launched on Binance Launchpool and has unveiled its tokenomics. AltLayer OG Badge NFT holders, Oh Ottie! NFT holders, qualified participants of Altitude promotions, qualified re-stakers from EigenLayer, and qualified stakers from Celestia will receive token airdrops. This announcement has led to an increase in the trading volume and price of the related NFTs.

3.Blockchain Profile - BSC

3.1 User Profile

3.1.1 Core Data

Total active users on BSC: 1,256,316

New active users on BSC: 178,185, with a daily decrease of 7.26%

Existing active users on BSC: 1,078,131, with a daily decrease of 5.10%

3.1.2 New User Profile

Core data: There were a total of 178,185 new active users on BSC yesterday, with a daily decrease of 7.26%

Popular Sectors

Popular Projects

Key Projects:

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. Animoca Brands has announced plans to purchase additional EDU tokens from the open market. Binance Labs invested $3.15 million in the Web3 education protocol Open Campus, bringing significant traffic to the Web3 education sector.

3.1.3 Existing User Profile

Core data: The number of BSC active existing users is 1,078,131, with a daily decrease of 5.10%

Popular Sectors

Popular Projects

Key Projects:

QnA3.AI (DApp) - A Web3 knowledge-sharing platform based on AI, QnA3.AI has garnered widespread attention on the BNB Chain. The project has initiated a data mining mode, where users can join and use idle computing resources on their devices for tasks like data cleaning and scraping. Contributors of computing power are rewarded with points.

3.2 Popular Trading Pairs

3.2.1 PancakeSwap V2

There are no particularly popular tokens among DEXs on BSC.

4.Blockchain Profile - Polygon Chain

4.1 User Profile

4.1.1 Core Data

Total active users on Polygon: 589,293

New active users on Polygon: 122,565, with a daily increase of 9.01%

Existing active users on Polygon: 466,728, with a daily decrease of 1.27%

4.1.2 New User Profile

Core data: There were a total of 122,565 new active users on Polygon yesterday, with a daily increase of 9.01%

Popular Sectors

Popular Projects

Key Projects:

TurnUp (DApp) - TurnUp, a Web3 social gaming ecosystem, has seen continuous growth in on-chain transaction data, ranking high on the Polygon DApps daily active users chart. The project team promised in a tweet that once they rank first on the daily active users chart, they will host an AMA with Polygon founder Sandeep Nailwal.

4.1.3 Existing User Profile

Core Data: The number of Polygon active existing users is 466,728, with a daily decrease of 1.27%

Popular Sectors

Popular Projects

Key Projects:

Smart Cats (DApp) - An NFT project launched by Smart Layer, which has very high on-chain popularity. Users can interact with Smart Cats NFTs by feeding, cleaning, and other activities. The NFTs have a very high level of interaction.

4.2 Popular Trading Pairs

4.2.1 Uniswap V3

There are no particularly popular tokens on Polygon.

5.Blockchain Profile - Arbitrum Chain

5.1 User Profile

5.1.1 Core Data

Total Active Users on Arbitrum: 165,857

New Active Users on Arbitrum: 28,233, with a daily increase of 3.06%

Existing Active Users on Arbitrum: 137,624, with a daily increase of 17.05%

5.1.2 New User Profile

Core data: There were a total of 28,233 new active users on Arbitrum yesterday, with a daily increase of 3.06%

Popular Sectors

Popular Projects

Key Projects:

Arbitrum (DApp) - The Arbitrum community has approved the "Long-Term Incentives Pilot Program" proposal. The program will distribute ARB tokens to protocols built on Arbitrum over 12 weeks, with a total cost of 45,815,000 ARB.

5.1.3 Existing User Profile

Core data: The number of Arbitrum active existing users is 137,624, with a daily increase of 17.05%

Popular Sectors

Popular Projects

Key Projects:

Circle (DApp) - Chainlink's Cross-Chain Interoperability Protocol (CCIP) has been integrated with Circle's Cross-Chain Transfer Protocol (CCTP), enabling users to transfer USDC across various blockchains. Additionally, developers can utilize CCIP to create cross-chain use cases involving USDC transfers, including payments and other DeFi interactions.

5.2 Popular Trading Pairs

5.2.1 Uniswap V3

PENDLE (Token) - Recently, Pendle added LRT asset components, enabling users to gain more benefits related to LRT. The product's continuous iteration has received positive feedback from the community. Pendle's price has reached a new all-time high, with its product capabilities and rapid development also being recognized by speculative capital.

6.Blockchain Profile - Base Chain

6.1 User Profile

6.1.1 Core Data

Total Active Users on Base: 71,081

New Active Users on Base: 11,883, with a daily increase of 6.11%

Existing Active Users on Base: 59,198, with a daily decrease of 0.51%

6.1.2 New User Profile

Core data: There were a total of 11,883 new active users on Base yesterday, with a daily increase of 6.11%

Popular Sectors

Popular Projects

Key Projects:

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.

6.1.3 Existing User Profile

Core data: The number of Base active existing users is 59,198, with a daily decrease of 0.51%

Popular Sectors

Popular Projects

Key Projects:

Dmail (DApp) - Dmail is a mail application based on Web 3.0 and Dfinity technology, integrating NFT functionality and distributed storage, with each account itself being an NFT. This project aims to bridge the gap between traditional email systems and blockchain-based email systems, thereby lowering the barrier for users and developers to engage with the crypto world. The design philosophy of Dmail is to make the use of blockchain technology as simple and intuitive as using the internet.

7. DApp Ecosystem - All Chains

Jupiter (DApp) - Jupiter's co-founder announced that the JUP token will be launched on January 31. Before the launch of JUP, the team plans to test the new launch platform, focusing on two key areas. The first test involves mockJUP (a simulated version of the JUP token), and the second involves a memecoin set to be released next week.

8.DApp Ecosystem - ETH Chain

Blast (DApp) - Developed by Pacman, the founder of Blur, the Layer 2 network Blast has announced the official launch of its testnet. Additionally, Blast has introduced the "Blast BIG BANG" promotion for developers. The winning DApp will be promoted to Blast users after the mainnet launch at the end of February, and 50% of the airdrop will be allocated to developers.

9.DApp Ecosystem - BSC

NFPrompt (DApp) - NFPrompt is the first AI-driven art creation and NFT trading platform, enabling users to generate artworks through text prompts and mint them as NFTs. This empowers every user to become an artist and own their creations on blockchain.

10.DApp Ecosystem - Polygon Chain

Galxe (DApp) - Galxe supports a variety of data sources, including both on-chain and off-chain. For on-chain credentials, curators can contribute through subgraph queries or static snapshots. For off-chain credentials, Project Galaxy has integrated with platforms like Snapshot.org, Twitter, and Github. This support for diverse data sources enables Project Galaxy to more broadly collect and utilize data.

11.DApp Ecosystem - Solana Chain

Jupiter (DApp) - Jupiter's co-founder announced that the JUP token will be launched on January 31. Before the launch of JUP, the team plans to test the new launch platform, focusing on two key areas. The first test involves mockJUP (a simulated version of the JUP token), and the second involves a memecoin set to be released next week.

12.DApp Ecosystem - Arbitrum Chain

xPet.tech (DApp) - xPet is a project on the Arbitrum Chain that combines SocialFi and GameFi, requiring players to feed, accompany, and ensure the survival of their pets, thereby helping them earn token rewards. Additionally, xPet's PvP mode is set to be launched soon.

13.DApp Ecosystem - Base Chain

Aerodrome (DApp) - Aerodrome is an emerging automated market maker (AMM) protocol aimed to become the central liquidity hub for Coinbase's Layer 2 chain, Base. The aerodrome's design is inspired by the Velodrome V2 model to incentivize liquidity on the protocol. Despite past collaborations, Aerodrome operates independently of Velodrome. AERO, Aerodrome's utility and governance token, allows holders to lock their tokens and receive veAERO NFTs and voting power based on the lock-up period.

14.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.

15.Gas Fee Consumption - ETH Chain

Memecoin (Token) - Last week, Memeland announced upcoming mining rewards. Over four million accounts have joined the mining activity. To filter out bots and prevent unfair advantage practices, each address must hold at least 69 MEME tokens and pass two CAPTCHA human verification tests. Users have seven days to complete these compulsory quests.

16.Gas Fee Consumption - BSC

QnA3.AI (DApp) - A Web3 knowledge-sharing platform based on AI, QnA3.AI has garnered widespread attention on the BNB Chain. The project has initiated a data mining mode, where users can join and use idle computing resources on their devices for tasks like data cleaning and scraping. Contributors of computing power are rewarded with points.

17.Gas Fee Consumption - Polygon Chain

TurnUp (DApp) - TurnUp, a Web3 social gaming ecosystem, has seen continuous growth in on-chain transaction data, ranking high on the Polygon DApps daily active users chart. The project team promised in a tweet that once they rank first on the daily active users chart, they will host an AMA with Polygon founder Sandeep Nailwal.

18.Gas Fee Consumption - Arbitrum Chain

Vertex (DApp) - Vertex is a decentralized exchange (DEX) protocol based on Arbitrum, offering cross-margin trading services. It integrates spot, perpetual contracts, and money markets into one application. It is currently the most active derivatives platform on Arbitrum.

19.Gas Fee Consumption - Base Chain

Aerodrome (DApp) - Aerodrome is an emerging automated market maker (AMM) protocol aimed to become the central liquidity hub for Coinbase's Layer 2 chain, Base. The aerodrome's design is inspired by the Velodrome V2 model to incentivize liquidity on the protocol. Despite past collaborations, Aerodrome operates independently of Velodrome. AERO, Aerodrome's utility and governance token, allows holders to lock their tokens and receive veAERO NFTs and voting power based on the lock-up period.

20.Top Trending Tokens on Twitter

No data for this segment today due to anomalies in the data source.

21.Google Trends - Global

BTC (Token) - The market's focus is on the outflow of funds from Grayscale's GBTC, with the negative premium of GBTC nearing closure and the redemption pressure caused by BTC continuing. Overall, there is a net inflow of traditional funds into the crypto market via BTC ETFs, indicating that the decrease in BTC's value is likely to be limited.

22.Google Trends Surge - East Asia, South Asia, Southeast Asia, Hong Kong, Macau, and Taiwan

a) South Asia Region

India Trends: PI, MYRO, OSMO, BLUR

Pakistan Trends: LTC, MANTA, ADA, ICE

b) Southeast Asia Region

Malaysia Trends: AVAX, LUNO, TRX, PI

Philippines Trends: ICE, XRP, DOGE, MAV

Singapore Trends: VELO, CRO, XRP, FIL, SEI, BONK

Indonesia Trends: TITAN

Vietnam Trends: XAI

c) East Asia

Mainland China Trends: SANTOS, TUSD

Hong Kong Trends: EOS, XAI, LTC, MANTA

Taiwan Trends: COMP

South Korea Trends: OKX, Bitget

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

a) CIS Region

Trends: MAGIC, ARKM, bungee, whitebit

b) English-speaking Countries

USA Trends: HONEY, AUCTION

Australia Trends: DOT, XRP, FLOW

Canada Trends: KAS, CHZ, ARKM, BLUR, QNT

UK Trends: LTC, PENDLE, CHZ

c) Europe

Poland Trends: ARKM, CHZ, KAS

France Trends: SANTOS, CHZ, monad, MAV

Switzerland Trends: XRP, RAY, revolut, LUNA, CRO, SHIB, BLUR, MANTA

Türkiye Trends: selcoin, uniswap, bingx, coinbase

Italy Trends: MAV, CHZ, MAV, INJ, FTT, KUJI

Spain Trends: METIS, KAS, CHZ

24.Google Trends Surge - Middle East, Latin America, Africa

a) Africa

South Africa Trends: ICP, LUNA, ADA, SOL

Nigeria Trends: VET

b) Middle East

UAE Trends: TWT, XRP, SOL

Saudi Arabia Trends: IOTA, XRP

c) Latin America

Brazil Trends: DASH, CHZ, MUBI, AMP, MANTA

Argentina Trends: MANTA, NEXO, GALA, BONK

Mexico Trends: MANTA

Chile Trends: AI, SAND

Reference Links

Dune On-Chain Data Dashboard - Blockchain Profile: https://dune.com/bitgetresearch/bitgetreseach-chains-overview

Dune On-Chain Data Dashboard - Gas Consumption: https://dune.com/bitgetresearch/gas-overview