Bitget Research: Nvidia Earnings Exceed Expectations Driving AI Sector Surge, FOMC Minutes Highlight Risks of Premature Easing

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:

WCD (Token) - Official McDonald's Twitter account announced the launch of its metaverse brand wcdonalds, with the tweet receiving a like from Elon Musk. Following this news, the related memecoin WCD experienced a wave of hype. After the initial sell-off by the deployer was absorbed, its market cap soared from $400,000 and briefly exceeded $4 million, with a 24-hour trading volume of $5.47 million.

PLT (Token) - The ERC404 art project Palette, incubated by artist CFW and Pandora, is a generative art project. A bug during its initial launch yesterday prevented users from fully selling their purchases and from converting NFTs and tokens. Following a code audit and adjustments, liquidity was deployed, and the token's market cap reached a high of $15 million, with a 24-hour trading volume of $17 million.

ARB (Token) - An official tweet from Arbitrum revealed that the Social Network, a Layer 2 Bitcoin staking network, will settle on Ethereum, with 8% of sequencer profits going to ArbitrumDAO and 2% to the Arbitrum Developers Association. The Social Network, supported by Arbitrum, is distinguished by its native yield for Bitcoin staking on Layer 2.

2.Popular NFTs:

Bored Ape Yacht Club (NFT) - Greg Solano, co-founder of Yuga Labs, tweeted that he will resume his role as CEO of Yuga Labs. He also stated that BAYC LLC, a Yuga subsidiary, has been established to handle all BAYC-related affairs. Following this news, the 24-hour trading volume of Bored Ape surged by 100%, and its floor price increased by 10% to 24 ETH.

Smart Cats (NFT) - An NFT project launched by SmartLayer, 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. Smart Layer announced the tokenomics of SLN yesterday, with an airdrop ratio of 2%, and will open for claims tomorrow.

3.Popular DApps:

Circle (DApp) - Circle has announced it would gradually terminate support for USDC on the TRON blockchain. Circle will no longer mint USDC on TRON, and by February 2025, Circle Mint customers can transfer USDC to other blockchains or directly exchange USDC on TRON for fiat currency through Circle.

Starknet (DApp) - Following its token launch, Starknet has a circulating market cap of $1.3 billion and a total market cap of $18.4 billion, driving Starknet's on-chain TVL to surge to $1.3 billion. This represents a 600% increase over seven days, ranking it fourth in the Layer 2 TVL chart. STRK tokens account for 83.58% of the TVL.

QnA3.AI (DApp) - The AI project QnA3.AI announced on social media its first round of token airdrop promotion, where interaction records and credits will determine users' share of the airdrop, targeting active participants, participants with outstanding interactive performance, and global ambassadors. QnA3 is an AI-driven, one-stop Web3 knowledge engine and trading portal, where users can ask questions to AI or vote on questions.

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.

Polyhedra (DApp) - Polyhedra Network is building the next-generation infrastructure for Web3 interoperability through advanced zero-knowledge proof (ZKP) technology. Using deVirgo, Polyhedra Network has designed and implemented zkBridge, providing a trustless and efficient infrastructure for cross-chain interoperability. zkBridge utilizes ZKP technology, allowing the prover to efficiently prove to the receiving chain that a certain state transition has occurred on the sending chain.

Fren Pet (DApp) - A pet breeding game built on the Base chain, where players can buy items with Fren Pet's token FP, and earn points by feeding their pets and battling the pets of other players. Players can earn ETH allocated by the game based on their ranking on the chart. The project attracted widespread community attention after being promoted by the official Twitter accounts of Coinbase and Base.

Blast (DApp) - Blast is an innovative Ethereum Layer 2 platform that stands out by offering native yields on ETH and stablecoins. Leveraging Ethereum's Shanghai upgrade, it features automatic compounding for ETH and provides T-Bill yields for stablecoins through its USDB (Blast USD). This strategy sets Blast apart in the Layer 2 space by enhancing asset value and market efficiency. Blast has stated that the exact mainnet launch date will be announced later this week, with the current TVL surpassing $1.9 billion.

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. Diamond points are now available on the Whales Market, an OTC market for points, with one diamond valued at $0.0629.

zkSync Era (DApp) - According to L2BEAT data, the TVL in zkSync Era has rebounded to $600 million. Following Starknet’s token launch, many investors have renewed their interest in zkSync. It is currently unclear if a snapshot has been taken, but this activity indicates high market expectations for the zkSync’s token launch.

4.Twitter Hot Topics:

BNB (Token) - Yesterday, Binance announced the launch of Portal on the Launchpool, where staking BNB allows participation in the new token offering. Portal is a gaming ecosystem token, and Portal Gaming is a platform dedicated to Web3 games, focusing on features such as one-click login with Portal Passport and easy payments. Supported by solid fundamentals, the project's performance is worth monitoring following its launch.

5.Regional Trending Searches:

Nvidia (Other) - Yesterday, Nvidia reported earnings with both revenue and net profit exceeding expectations, benefiting from the booming development in the AI sector, which significantly enhanced its revenue-generating capabilities. Recently, the cryptocurrency market has seen a surge in tokens with identical names, yet many of these projects lack fundamental backing, necessitating caution when engaging due to the risk.

Main Body

Written by: Bitget Research

Data collection time: February 22, 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

No popular BRC-20 tokens.

2.Blockchain Profile - ETH Chain

2.1 User Profile

2.1.1 Core Data

Total active users on ETH: 445,213

New active users on ETH: 89,529, with a daily decrease of 1.87%

Existing active users on ETH: 355,684, with a daily decrease of 7.60%

2.1.2 New User Profile

Core data: There were a total of 89,529 new active users on ETH yesterday, with a daily decrease of 1.87%

Popular Sectors

Popular Projects

Key Projects:

Circle (DApp) - Circle has announced it would gradually terminate support for USDC on the TRON blockchain. Circle will no longer mint USDC on TRON, and by February 2025, Circle Mint customers can transfer USDC to other blockchains or directly exchange USDC on TRON for fiat currency through Circle.

2.1.3 Existing User Profile

Core data: The number of ETH active existing users is 355,684, with a daily decrease of 7.60%

Popular Sectors

Popular Projects

Key Projects:

Starknet (DApp) - Following its token launch, Starknet has a circulating market cap of $1.3 billion and a total market cap of $18.4 billion, driving Starknet's on-chain TVL to surge to $1.3 billion. This represents a 600% increase over seven days, ranking it fourth in the Layer 2 TVL chart. STRK tokens account for 83.58% of the TVL.

2.2 Popular Trading Pairs

2.2.1 Uniswap V2

WCD (Token) - Official McDonald's Twitter account announced the launch of its metaverse brand wcdonalds, with the tweet receiving a like from Elon Musk. Following this news, the related memecoin WCD experienced a wave of hype. After the initial sell-off by the deployer was absorbed, its market cap soared from $400,000 and briefly exceeded $4 million, with a 24-hour trading volume of $5.47 million.

2.2.2 Uniswap V3

PLT (Token) - The ERC404 art project Palette, incubated by artist CFW and Pandora, is a generative art project. A bug during its initial launch yesterday prevented users from fully selling their purchases and from converting NFTs and tokens. Following a code audit and adjustments, liquidity was deployed, and the token's market cap reached a high of $15 million, with a 24-hour trading volume of $17 million.

2.3 Popular NFTs

2.3.1 Top NFT Collections

Bored Ape Yacht Club (NFT) - Greg Solano, co-founder of Yuga Labs, tweeted that he will resume his role as CEO of Yuga Labs. He also stated that BAYC LLC, a Yuga subsidiary, has been established to handle all BAYC-related affairs. Following this news, the 24-hour trading volume of Bored Ape surged by 100%, and its floor price increased by 10% to 24 ETH.

3.Blockchain Profile - BSC

3.1 User Profile

3.1.1 Core Data

Total active users on BSC: 1,394,245

New active users on BSC: 197,460, with a daily increase of 0.71%

Existing active users on BSC: 1,196,785, with a daily increase of 2.57%

3.1.2 New User Profile

Core data: There were a total of 197,460 new active users on BSC yesterday, with a daily increase of 0.71%

Popular Sectors

Popular Projects

Key Projects:

QnA3.AI (DApp) - The AI project QnA3.AI announced on social media its first round of token airdrop promotion, where interaction records and credits will determine users' share of the airdrop, targeting active participants, participants with outstanding interactive performance, and global ambassadors. QnA3 is an AI-driven, one-stop Web3 knowledge engine and trading portal, where users can ask questions to AI or vote on questions.

3.1.3 Existing User Profile

Core data: The number of BSC active existing users is 1,196,785, with a daily increase of 2.57%

Popular Sectors

Popular Projects

Key Projects:

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.

3.2 Popular Trading Pairs

3.2.1 PancakeSwap V2

Aside from BNB, there are no popular tokens on the BSC DEXs, primarily consisting of replica projects.

4.Blockchain Profile - Polygon Chain

4.1 User Profile

4.1.1 Core Data

Total active users on Polygon: 926,442

New active users on Polygon: 131,469, with a daily decrease of 12.61%

Existing active users on Polygon: 794,973, with a daily increase of 4.02%

4.1.2 New User Profile

Core data: There were a total of 131,469 new active users on Polygon yesterday, with a daily decrease of 12.61%

Popular Sectors

Popular Projects

Key Projects:

Smart Cats (NFT) - An NFT project launched by SmartLayer, 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. Smart Layer announced the tokenomics of SLN yesterday, with an airdrop ratio of 2%, and will open for claims tomorrow.

4.1.3 Existing User Profile

Core Data: The number of Polygon active existing users is 794,973, with a daily increase of 4.02%

Popular Sectors

Popular Projects

Key Projects:

Galxe (DApp) - An on-chain task platform, 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: 198,594

New Active Users on Arbitrum: 37,403, with a daily decrease of 7.66%

Existing Active Users on Arbitrum: 161,191, with a daily increase of 3.44%

5.1.2 New User Profile

Core data: There were a total of 37,403 new active users on Arbitrum yesterday, with a daily decrease of 7.66%

Popular Sectors

Popular Projects

Key Projects:

Polyhedra (DApp) - Polyhedra Network is building the next-generation infrastructure for Web3 interoperability through advanced zero-knowledge proof (ZKP) technology. Using deVirgo, Polyhedra Network has designed and implemented zkBridge, providing a trustless and efficient infrastructure for cross-chain interoperability. zkBridge utilizes ZKP technology, allowing the prover to efficiently prove to the receiving chain that a certain state transition has occurred on the sending chain.

5.1.3 Existing User Profile

Core data: The number of Arbitrum active existing users is 161,191, with a daily increase of 3.44%

Popular Sectors

Popular Projects

Key Projects:

Layer zero (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

ARB (Token) - An official tweet from Arbitrum revealed that the Social Network, a Layer 2 Bitcoin staking network, will settle on Ethereum, with 8% of sequencer profits going to ArbitrumDAO and 2% to the Arbitrum Developers Association. The Social Network, supported by Arbitrum, is distinguished by its native yield for Bitcoin staking on Layer 2.

6.Blockchain Profile - Base Chain

6.1 User Profile

6.1.1 Core Data

Total Active Users on Base: 124,061

New Active Users on Base: 18,897, with a daily increase of 1.75%

Existing Active Users on Base: 105,164, with a daily increase of 10.72%

6.1.2 New User Profile

Core data: There were a total of 18,897 new active users on Base yesterday, with a daily increase of 1.75%

Popular Sectors

Popular Projects

Key Projects:

Orbiter (DApp) - The cross-chain bridge project Orbiter Finance has announced on X that it will launch its native token this year as a gesture of gratitude to its loyal community. The project also stated that it will gradually unveil the tokenomics and distribution plan, ensuring a fair process. The O-Points program will play a crucial role in establishing airdrop rules.

6.1.3 Existing User Profile

Core data: The number of Base active existing users is 105,164, with a daily increase of 10.72%

Popular Sectors

Popular Projects

Key Projects:

Fren Pet (DApp) - A pet breeding game built on the Base chain, where players can buy items with Fren Pet's token FP, and earn points by feeding their pets and battling the pets of other players. Players can earn ETH allocated by the game based on their ranking on the chart. The project attracted widespread community attention after being promoted by the official Twitter accounts of Coinbase and Base.

7.DApp Ecosystem - All Chains

Carv (DApp) - CARV is an AI-powered super app focused on socializing, authenticating, and publishing within gaming. It enables users to self-verify ownership, role actions, social connections, or past experiences as credentials. The platform builds reputation through consented zero-party data. CARV is a user-centric platform, offering true data autonomy, where users can control and monetize their identity and data.

8.DApp Ecosystem - ETH Chain

Blast (DApp) - Blast is an innovative Ethereum Layer 2 platform that stands out by offering native yields on ETH and stablecoins. Leveraging Ethereum's Shanghai upgrade, it features automatic compounding for ETH and provides T-Bill yields for stablecoins through its USDB (Blast USD). This strategy sets Blast apart in the Layer 2 space by enhancing asset value and market efficiency. Blast has stated that the exact mainnet launch date will be announced later this week, with the current TVL surpassing $1.9 billion.

9.DApp Ecosystem - BSC

Starrynift (DApp) - StarryNift is a co-creation metaverse platform where users can play, create, and socialize. The project aims to expand Metaverse Horizons through innovative and diverse use cases to accelerate the adoption of Web3. The project team announced its tokenomics last December and plans to issue its token.

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 over 60,000 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. Diamond points are now available on the Whales Market, an OTC market for points, with one diamond valued at $0.0629.

12.DApp Ecosystem - Arbitrum Chain

Meson (DApp) - Meson is a cross-chain bridge project that facilitates faster, safer, low-cost, and zero-slippage cross-chain swaps of BTC, ETH, and stablecoins.

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 Velodrome V2 model inspires the aerodrome's design to incentivize liquidity on the protocol, with some team members coming from Velodrome. The project's token has been listed on Coinbase.

14.DApp Ecosystem - GameFi Sector Across All Chains

Matr1x Fire (DApp) -The global testing server for the FPS blockchain game "MATR1X FIRE" officially began testing on January 29, attracting over 70,000 global FPS players within just the first three days. The daily active users (DAU) nearly hit 30,000, with an average online duration of 57 minutes.

15.Gas Fee Consumption - ETH Chain

zkSync Era (DApp) - According to L2BEAT data, the TVL in zkSync Era has rebounded to $600 million. Following Starknet’s token launch, many investors have renewed their interest in zkSync. It is currently unclear if a snapshot has been taken, but this activity indicates high market expectations for the zkSync’s token launch.

16.Gas Fee Consumption - BSC

QnA3 (DApp) - On February 21, the AI project QnA3.AI announced on social media its first round of token airdrop promotion, where interaction records and credits will determine users' share of the airdrop. To ensure fairness, bot accounts will be filtered out. Eligibility for the airdrop can be achieved by meeting one of the following three conditions: Active participants, Participants with outstanding interactive performance, and Global ambassadors.

17.Gas Fee Consumption - Polygon Chain

Matr1x Pioneer Badge (NFT) - The Matr1x Pioneer Badge Collection was issued to celebrate the participants of the MAX Score airdrop promotion. Basic badges are awarded to all users who participate in the promotion, symbolizing active participation in the Matr1x community. Premium badges are awarded to those who make exceptional contributions. Matr1x Pioneer Badges will be redeemable for a mystery reward at the promotion's conclusion. There are currently 232,000 holders.

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

No new popular contracts on the Base chain gas consumption chart.

20.Top Trending Projects on Twitter

BNB (Token) - Yesterday, Binance announced the launch of Portal on the Launchpool, where staking BNB allows participation in the new token offering. Portal is a gaming ecosystem token, and Portal Gaming is a platform dedicated to Web3 games, focusing on features such as one-click login with Portal Passport and easy payments. Supported by solid fundamentals, the project's performance is worth monitoring following its launch.

21.Google Trends - Global

Nvidia (Other) - Yesterday, Nvidia reported earnings with both revenue and net profit exceeding expectations, benefiting from the booming development in the AI sector, which significantly enhanced its revenue-generating capabilities. Recently, the cryptocurrency market has seen a surge in tokens with identical names, yet many of these projects lack fundamental backing, necessitating caution when engaging due to the risk.

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

a) South Asia Region

India Trends: ARKM, BTC, FTM, Matic, Storj, Loopring

Pakistan Trends: Portal, XRP

b) Southeast Asia Region

Philippines Trends: TRON, pixel, btc

Singapore Trends: btc, depin, eth, pepe

Indonesia Trends: shib, beam, idr

c) East AsiaTrends: iis, ai, qnt, kaspa, xdc, wtc

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

a) CIS Region

Russia and Ukraine Trends: pixel, scroll, crypto engine

b) English-speaking Countries

Australia Trends: matic, nvidia, neo, akt, manta, rndr

UK Trends: ada, ach, kaspa, rlc, ksi

USA Trends: ais, suku, tia, arkm, avt

Canada Trends: xyo, axgt, ada, ach, ren

c) Europe

France Trends: wormhole, stx, portal, nvidia, gmt

Poland Trends: xen, portal, gala, arkham, hedera

Switzerland Trends: jasmy, polygon, shiba, eth

Türkiye Trends: crypto.com, tradingview, yuki, crypto royale

Germany Trends: bitcoin, jup, dextool

Italy Trends: shib, portal, op, amp, jasmy

Spain Trends: worldcoin, pancakeswap, sats, luna, pyth, bonk

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

a) Africa

South Africa Trends: bitcoin, ethereum

Nigeria Trends: fud, forex

b) Middle EastTrends: gary, gensler

c) Latin America

Brazil Trends: bnb, uni, polkdot, ada

Argentina Trends: sui, luna, matic, hbar, ethereum

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