Bitget Research: FTX Abandons Restart Plans and Shifts Focus to Full Compensation, Farcaster Sparks New SocialFi Craze

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:

RCSV (Token) - RCSV has fully rebranded as Bitmap Tech, which will launch four key initiatives: the Bitmap.Game metaverse platform, the BRC-420 asset protocol and trading marketplace, the Recursiverse recursive application matrix, and BTC Layer 2. The RCSV inscription token currently has a market cap of $16.16 million with 9584 holders and is poised for an airdrop following the release of BTC Layer 2.

Dogwifhat (Token) - Game streamer Issa stated on Twitter to be the original creator of Dogwifhat, a claim not recognized by the Solana community's WIF team. Issa reposted a tweet from 2019 and launched the DOGWIFHAT token on Ethereum, sparking significant controversy. After its launch, the token's market cap briefly soared beyond $30 million, currently at $12 million with a 24-hour trading volume of $25 million, indicating high on-chain popularity.

FORK (Token) - The FlokiFork token combines the imitation concept of PORK and the characteristics of Floki. It attracted significant investment attention upon its launch, with the market cap briefly surging to $5 million. Currently, the market cap is $2.5 million, with a trading volume of $6 million.

MAGIC (Token) - TreasureDAO co-founder Karel Vuong stated that TreasureDAO is building a gaming chain, planning to use MAGIC as the gas token, potentially based on the Arbitrum or Cosmos network. The release of the Treasure Chain Litepaper will be delayed by a week, expected on February 5. Previously, an Optimism co-founder proposed that Treasure join the Optimism Superchain and build Treasure Chain on the OP Stack.

Farlaunch (Token) - Farcaster, a social protocol built atop Ethereum and Optimism, introduced the Frames framework last week. This extension of the Open Graph protocol enables cast (podcast) to go beyond mere text or images. Frames enable users to interact with content unprecedentedly, from participating in quizzes and mini-games to minting NFTs and exploring immersive narratives. Farlaunch is a protocol within the Farcaster ecosystem. The Frames feature and free mint event for FAR tokens have fueled a surge in Farcaster activity, causing a temporary collapse of the Farcaster network. The token's current market cap is $500,000.

2.Popular NFTs:

TenNeighbors (NFT) - Ten Neighbors is a 100% on-chain generated art collection created in a single transaction, with a total of 9900 NFTs. It currently has 2534 holders and has traded 20 ETH since its launch, with a floor price of 0.0039 ETH. The project, deployed by developer stany.eth, has moderate popularity.

3.Popular DApps:

Mode (DApp) - The modular DeFi L2 mainnet and airdrop based on OP are now live, with the first airdrop distributing 5.5% of the total token supply. This activity rewards users for network growth based on points earned, with more airdrop rewards unlocked as the mainnet's TVL increases. Points can be earned by bridging assets from Ethereum to the Mode network. Consequently, the Mode Ethereum cross-chain bridge has seen significant activity, with cross-chain assets reaching $59 million and over 55,000 addresses. The chain's native ecosystem TVL is $22 million.

Tether (DApp) - Tether's CEO, Paolo Ardoino, shared a summary of Tether's Q4 2023 financial report on social media. For Q4 2023, Tether reported a profit of $2.85 billion, with approximately $1 billion in net profit (primarily from U.S. Treasury bond interest) and about $1.85 billion from its holdings in gold and Bitcoin. Furthermore, the total profit for 2023 was $6.2 billion. Cash and cash equivalents currently cover 90% of all issued tokens, the highest ratio ever.

LayerZero (DApp) - The cross-chain interoperability protocol LayerZero has announced the launch of its V2, with new features including universal message passing, modular security, permissionless execution, unified semantics, and V1 compatibility. It currently supports more than 20 chains, offering permissionless, censorship-resistant, and immutable interoperability.

Anichess (DApp) - Anichess is a blockchain-based international chess game developed by Animoca Brands and its subsidiary Lympo in collaboration with chess industry leader Play Magnus Group. This blockchain game features a betting and profit ecosystem. Orbs of Power, the first NFT collection in the Anichess Universe, currently has 65,711 holders.

Magic Eden (DApp) - The multi-chain NFT platform Magic Eden has launched its Traceback Diamond Rewards program. Users who have interacted on the platform and completed specific tasks are eligible for rewards, with the potential to double rewards for subsequent tasks.

Friend.tech (DApp) - Friend.tech announced via Twitter that they will conduct the final weekly distribution of points for the beta period, bringing the total number of points distributed to 90 million, with the remaining 10 million beta period points to be distributed during the upcoming v2 launch. The project's point testing phase is in its final stages, with strong expectations for token issuance. Backed by investment from Paradigm, it's advisable to keep a close watch on this project.

Puffer (DApp) - Ethereum liquidity staking protocol Puffer Finance, invested by Binance Labs, opened up stETH and wstETH staking to users. Participants can earn Puffer and EigenLayer points. Since its launch, it has accumulated Ethereum deposits worth over $180 million.

4.Twitter Hot Topics:

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

5.Regional Trending Searches:

ETH (Token) - The Cancun upgrade is imminent, and the Ethereum client Geth has recently released version 1.12.1, focusing on the Cancun hard fork and discontinuing support for the Rinkeby testnet. From an ecosystem perspective, the ETH re-staking sector is booming, with users engaging with re-staking across various projects to earn points rewards, indicating strong market interest.

Main Body

Written by: Bitget Research

Data collection time: February 4, 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

RCSV (Token) - RCSV has fully rebranded as Bitmap Tech, which will launch four key initiatives: the Bitmap.Game metaverse platform, the BRC-420 asset protocol and trading marketplace, the Recursiverse recursive application matrix, and BTC Layer 2. The RCSV inscription token currently has a market cap of $16.16 million with 9584 holders and is poised for an airdrop following the release of BTC Layer 2.

2.Blockchain Profile - ETH Chain

2.1 User Profile

2.1.1 Core Data

Total active users on ETH: 452,747

New active users on ETH: 89,687, with a daily increase of 2.71%

Existing active users on ETH: 363,060, with a daily decrease of 0.11%

2.1.2 New User Profile

Core data: There were a total of 89,687 new active users on ETH yesterday, with a daily increase of 2.71%

Popular Sectors

Popular Projects

Key Projects:

Mode (DApp) - The modular DeFi L2 mainnet and airdrop based on OP are now live, with the first airdrop distributing 5.5% of the total token supply. This activity rewards users for network growth based on points earned, with more airdrop rewards unlocked as the mainnet's TVL increases. Points can be earned by bridging assets from Ethereum to the Mode network. Consequently, the Mode Ethereum cross-chain bridge has seen significant activity, with cross-chain assets reaching $59 million and over 55,000 addresses. The chain's native ecosystem TVL is $22 million.

2.1.3 Existing User Profile

Core data: The number of ETH active existing users is 363,060, with a daily decrease of 0.11%

Popular Sectors

Popular Projects

Key Projects:

TenNeighbors (NFT) - Ten Neighbors is a 100% on-chain generated art collection created in a single transaction, with a total of 9900 NFTs. It currently has 2534 holders and has traded 20 ETH since its launch, with a floor price of 0.0039 ETH. The project, deployed by developer stany.eth, has moderate popularity.

2.2 Popular Trading Pairs

2.2.1 Uniswap V2

Dogwifhat (Token) - Game streamer Issa stated on Twitter to be the original creator of Dogwifhat, a claim not recognized by the Solana community's WIF team. Issa reposted a tweet from 2019 and launched the DOGWIFHAT token on Ethereum, sparking significant controversy. After its launch, the token's market cap briefly soared beyond $30 million, currently at $12 million with a 24-hour trading volume of $25 million, indicating high on-chain popularity.

2.2.2 Uniswap V3

FORK (Token) - The FlokiFork token combines the imitation concept of PORK and the characteristics of Floki. It attracted significant investment attention upon its launch, with the market cap briefly surging to $5 million. Currently, the market cap is $2.5 million, with a trading volume of $6 million.

2.3 Popular NFTs

2.3.1 Top NFT Collections

ADA Handle (NFT) - Project exhibits abnormal trading volume. Caution advised.

Pudgy Penguins (NFT) - The project has recently launched the beta version of its IP licensing platform, OverpassIP. The platform now features the authorized release of Chapter 2 of Pudgy Toys, which are real-life simulation toys based on the Pudgy Penguin IP. Users can submit their Pudgy Penguin and Lil Pudgy IP licenses on OverpassIP. The beta version of OverpassIP is currently only available to Pudgy Penguin and Lil Pudgy holders, with the future main version set to offer licensing opportunities for over 200 Pudgy Penguin and Lil Pudgy characters.

3.Blockchain Profile - BSC

3.1 User Profile

3.1.1 Core Data

Total active users on BSC: 1,361,269

New active users on BSC: 199,111, with a daily increase of 16.57%

Existing active users on BSC: 1,162,158, with a daily increase of 3.63%

3.1.2 New User Profile

Core data: There were a total of 199,111 new active users on BSC yesterday, with a daily increase of 16.57%

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 1,162,158, with a daily increase of 3.63%

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

Most of the tokens with high activity and trading volume on the BSC are replicas of recently popular projects. Users should exercise caution in distinguishing them.

4.Blockchain Profile - Polygon Chain

4.1 User Profile

4.1.1 Core Data

Total active users on Polygon: 681,452

New active users on Polygon: 136,395, with a daily increase of 2.16%

Existing active users on Polygon: 545,057, with a daily decrease of 2.54%

4.1.2 New User Profile

Core data: There were a total of 136,395 new active users on Polygon yesterday, with a daily increase of 2.16%

Popular Sectors

Popular Projects

Key Projects:

Smartcat (DApp) - An NFT project launched by Smart Layer, which has very high on-chain popularity. Users can interact with Smart Cats NFTs by feeding and cleaning them, and the level of interaction is notably high.

4.1.3 Existing User Profile

Core Data: The number of Polygon active existing users is 545,057, with a daily decrease of 2.54%

Popular Sectors

Popular Projects

Key Projects:

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.

4.2 Popular Trading Pairs

4.2.1 Uniswap V3

No new popular tokens on the Polygon chain.

5.Blockchain Profile - Arbitrum Chain

5.1 User Profile

5.1.1 Core Data

Total Active Users on Arbitrum: 159,821

New Active Users on Arbitrum: 23,429, with a daily decrease of 4.00%

Existing Active Users on Arbitrum: 136,392, with a daily increase of 3.78%

5.1.2 New User Profile

Core data: There were a total of 23,429 new active users on Arbitrum yesterday, with a daily decrease of 4.00%

Popular Sectors

Popular Projects

Key Projects:

Tether (DApp) - Tether's CEO, Paolo Ardoino, shared a summary of Tether's Q4 2023 financial report on social media. For Q4 2023, Tether reported a profit of $2.85 billion, with approximately $1 billion in net profit (primarily from U.S. Treasury bond interest) and about $1.85 billion from its holdings in gold and Bitcoin. Furthermore, the total profit for 2023 was $6.2 billion. Cash and cash equivalents currently cover 90% of all issued tokens, the highest ratio ever.

5.1.3 Existing User Profile

Core data: The number of Arbitrum active existing users is 136,392, with a daily increase of 3.78%

Popular Sectors

Popular Projects

Key Projects:

LayerZero (DApp) - The cross-chain interoperability protocol LayerZero has announced the launch of its V2, with new features including universal message passing, modular security, permissionless execution, unified semantics, and V1 compatibility. It currently supports more than 20 chains, offering permissionless, censorship-resistant, and immutable interoperability.

5.2 Popular Trading Pairs

5.2.1 Uniswap V3

MAGIC (Token) - TreasureDAO co-founder Karel Vuong stated that TreasureDAO is building a gaming chain, planning to use MAGIC as the gas token, potentially based on the Arbitrum or Cosmos network. The release of the Treasure Chain Litepaper will be delayed by a week, expected on February 5. Previously, an Optimism co-founder proposed that Treasure join the Optimism Superchain and build Treasure Chain on the OP Stack.

6.Blockchain Profile - Base Chain

6.1 User Profile

6.1.1 Core Data

Total Active Users on Base: 81,282

New Active Users on Base: 14,728, with a daily increase of 29.39%

Existing Active Users on Base: 66,554, with a daily increase of 15.59%

6.1.2 New User Profile

Core data: There were a total of 14,728 new active users on Base yesterday, with a daily increase of 29.39%

Popular Sectors

Popular Projects

Key Projects:

Farlaunch (Token) - Farcaster, a social protocol built atop Ethereum and Optimism, introduced the Frames framework last week. This extension of the Open Graph protocol enables cast (podcast) to go beyond mere text or images. Frames enable users to interact with content unprecedentedly, from participating in quizzes and mini-games to minting NFTs and exploring immersive narratives. Farlaunch is a protocol within the Farcaster ecosystem. The Frames feature and free mint event for FAR tokens have fueled a surge in Farcaster activity, causing a temporary collapse of the Farcaster network. The token's current market cap is $500,000.

6.1.3 Existing User Profile

Core data: The number of Base active existing users is 66,554, with a daily increase of 15.59%

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. The project has not yet launched its token, offering an opportunity to interact early for a potential airdrop.

7. DApp Ecosystem - All Chains

Yuliverse (DApp) - Yuliverse has established a new investment partnership with DWF Labs. Yuliverse is a free-to-play blockchain metaverse game that combines GameFi and SocialFi elements, utilizing NFTs and the cryptocurrencies ARG and ART. It enhances social interaction and engagement and allows players to explore the real world and build connections. Yuliverse's game mechanics include elements of earning potential, providing a unique gaming experience for players.

8.DApp Ecosystem - ETH Chain

No new popular projects Ethereum chain.

9.DApp Ecosystem - BSC

SecondLive (DApp) - SecondLive offers a 3D virtual space where users can explore the metaverse through unique virtual avatars. These avatars enable participation in various activities, such as singing, dancing, virtual exhibitions, and shopping. This immersive experience forms the foundation of SecondLive. As one of the most active metaverse infrastructure projects on BSC, SecondLive has over 800,000 registered users and a large, active community. The platform continuously improves, offering diverse avatar styles, space construction templates, and various low-code rule engines. It supports virtual live broadcasts, concerts, large online conferences, and commercial displays.

10.DApp Ecosystem - Polygon Chain

Anichess (DApp) - Anichess is a blockchain-based international chess game developed by Animoca Brands and its subsidiary Lympo in collaboration with chess industry leader Play Magnus Group. This blockchain game features a betting and profit ecosystem. Orbs of Power, the first NFT collection in the Anichess Universe, currently has 65,711 holders.

11.DApp Ecosystem - Solana Chain

Magic Eden (DApp) - The multi-chain NFT platform Magic Eden has launched its Traceback Diamond Rewards program. Users who have interacted on the platform and completed specific tasks are eligible for rewards, with the potential to double rewards for subsequent tasks.

12.DApp Ecosystem - Arbitrum Chain

WooFi (DApp) - The cryptocurrency trading platform WOO X completed a $9 million financing round to improve liquidity. Investors include Wintermute, Time Research, Presto Labs, Pulsar, AlphaLab Capital, Efficient Frontier, Amber, and Riverside Hedge. Only market makers, rather than traditional venture capital funds, participated in this round, to boost WOO X's liquidity.

13.DApp Ecosystem - Base Chain

Friend.tech (DApp) - Friend.tech announced via Twitter that they will conduct the final weekly distribution of points for the beta period, bringing the total number of points distributed to 90 million, with the remaining 10 million beta period points to be distributed during the upcoming v2 launch. The project's point testing phase is in its final stages, with strong expectations for token issuance. Backed by investment from Paradigm, it's advisable to keep a close watch on this project.

14.DApp Ecosystem - GameFi Sector Across All Chains

Pixels (DApp) - Pixels is a blockchain-based, immersive, open-world MMO game. It leverages the power of Web3 to realize digital ownership for players and has created an engaging world where players can explore, complete tasks, and collaborate. Initially launched with core mechanics focused on farming, cooking, and questing, Pixels has gradually incorporated social features like trading, achievements, and leaderboards to foster interaction among players.

15.Gas Fee Consumption - ETH Chain

Puffer (DApp) - Ethereum liquidity staking protocol Puffer Finance, invested by Binance Labs, opened up stETH and wstETH staking to users. Participants can earn Puffer and EigenLayer points. Since its launch, it has accumulated Ethereum deposits worth over $180 million.

16.Gas Fee Consumption - BSC

QnA3 (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

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. Recently, NFTs received from the promotions of various projects on Galxe stand as a standard for determining eligibility for airdrops. Engagement with related promotions is advised.

18.Gas Fee Consumption - Arbitrum Chain

RabbitHole (DApp) - RabbitHole has recently aggregated all tasks offered through the Quest Protocol, enabling users to earn tokens by engaging with crypto applications. The project is experiencing high levels of interaction, which may be related to a potential token launch, making it an attractive option for engagement.

19.Gas Fee Consumption - Base Chain

Friend.tech (DApp) - Friend.tech announced via Twitter that they will conduct the final weekly distribution of points for the beta period, bringing the total number of points distributed to 90 million, with the remaining 10 million beta period points to be distributed during the upcoming v2 launch. The project's point testing phase is in its final stages, with strong expectations for token issuance. Backed by investment from Paradigm, it's advisable to keep a close watch on this project.

20.Top Trending Tokens on Twitter

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

21.Google Trends - Global

ETH (Token) - The Cancun upgrade is imminent, and the Ethereum client Geth has recently released version 1.12.1, focusing on the Cancun hard fork and discontinuing support for the Rinkeby testnet. From an ecosystem perspective, the ETH re-staking sector is booming, with users engaging with re-staking across various projects to earn points rewards, indicating strong market interest.

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

a) South Asia Region

India Trends: mono, airdrop, online, opensea

Pakistan Trends: CGC, ice, coindesk, ice, tradingview

b) Southeast Asia Region

Vietnam Trends: Crypto Bubbles, Coinmarketcap, Casino

Philippines Trends: btc, shib, alt, dao, eth, dca

Singapore Trends: 1inch, link, depin, olas

Indonesia Trends: btc, altlayer, faucet pay

c) East Asia

Trends: crypto hk

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

a) CIS Region

Trends: crypto bubble, crypto fundraising, crypto news, crypto exchange

b) English-speaking Countries

Australia Trends: cmc, crypto arena, quant, api3, ada

UK Trends: matic, wormhole, retik

USA Trends: cronos, flr, grass, xrp, gfal

Canada Trends: w5, wif, sol, monad

c) Europe

France Trends: centrifuge, crypto, rndr, maple

Poland Trends: celestia, xai, jupiter, bitcoin, eth, jupiter

Switzerland Trends: kaspa, tia, crypto bubbles

Türkiye Trends: crypto faucet, mono, cmc

Germany Trends: depin, celestia

Italy Trends: ultron, tao, manta, pi, luna, osmosis

Belgium Trends: vaars

Spain Trends: dot, bonk, arkm, inj, avax, icp, rose

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

a) Africa

South Africa Trends: ETH, live crypto price, eth

Nigeria Trends: fomo, faucet, crypto arbitrage, coingecko

b) Middle East

Trends: crypto batter, crypto price

c) Latin America

Brazil Trends: avail, polygon, avax, matic, tellor, sei, sol, eth

Argentina Trends: aave, inj, airdrop, nexo, jup

Mexico Trends: crypto bubble

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