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Bitget Research: Ethereum Gas Fees Drop to 2gwei, EigenLayer Opens Claims for EIGEN Airdrop
Tommy & Jarseed
2024/05/13
In the past 24 hours, many new popular tokens and topics have emerged in the market, which are likely to be the next wealth creation opportunities.
Overview
Prior to the release of the U.S. CPI data on May 15, the
cryptocurrency market exhibited pronounced risk-averse behavior, with
Bitcoin price rapidly declining before stabilizing over the weekend. On the
Ethereum network, gas fees dropped to a low of 2 gwei, indicating low on-chain activity and a lack of market highlights.
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Sectors to focus on next: AI Sector and TON Ecosystem.
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Top searched tokens and topics: Kaito, NOT, and TON.
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Potential airdrop opportunities: UXLINK and Li.Finance
Data collection time: May 13, 2024, 4:00 AM (UTC)
1. Market Environment
The cryptocurrency market fluctuated over the weekend as it awaited the U.S. CPI data set for release on May 15. Traders displayed clear risk aversion, and the market lacked highlights. The
ETH/BTC ratio fell to 0.047, and Ethereum's network gas fee reached a low point of 2 gwei. In the past two years, the previous three lows in ETH gas fees coincided with price-bottoming phases for ETH.
Airdrops and TGEs from notable projects continue to draw market attention: Since EigenLayer opened claims for the EIGEN token airdrop, the number of participating addresses has exceeded 130,000 and is still rapidly increasing. Airdrop announcements from BounceBit, io.net, Notcoin, and LayerZero have sparked interest.
2. Wealth Creation Sectors
2.1 Sectors to Focus on Next — AI Sector
Primary reasons:
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The AI and distributed computing sectors have shown strong consensus and bullish trends with smaller maximum drawdown compared to other sectors, providing some support. The AI sector experienced a pullback today, presenting a potential entry opportunity.
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Rumors suggest Apple is close to finalizing a deal with OpenAI to integrate ChatGPT into the iPhone. Additionally, Apple's Worldwide Developers Conference is set to start on June 10, where Apple may announce plans to upgrade Siri using AI technology.
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ChatGPT-5 is expected to be officially released as early as June.
Specific projects: TAO, RNDR, AR, ARKM, WLD, FET, and AGIX.
2.2 Sectors to Focus on Next — TON Ecosystem
Primary reasons:
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Pantera's investment in TON may exceed $250 million, marking its largest investment in cryptocurrency to date.
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High-traffic projects within the TON ecosystem, such as Notcoin, have been listed on Binance, though the TON token itself has not yet been listed. It is widely anticipated that TON's listing on Binance is only a matter of time.
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The infrastructure of the TON ecosystem is in its early stages, yet it has already produced high-traffic projects like Notcoin and Catizen, showcasing a substantial user base supported by Telegram.
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The issuance of stablecoins within the ecosystem has infused it with financial vitality, with TON's on-chain USDT supply reaching 130 million in two weeks, making it the eighth-largest blockchain for USDT issuance.
Specific projects: TON, FISH, and UP.
3. Top Searches
3.1 Popular DApps
EigenLayer:
EigenLayer, an innovative protocol described as "recursively composable," enhances blockchain networks by leveraging the security of foundational layers like Ethereum. This approach uses the established security of underlying
blockchains to enable improved computation and scalability without compromising security, ensuring maintained trust and reliability.
Recently, EigenLayer has opened claims for the EIGEN airdrop, allowing users who previously participated in restaking on the chain to claim EIGEN tokens. Currently, these tokens cannot be transferred, but holders can use them for staking in AVS services, contributing to the project's ecosystem development.
3.2 X (former Twitter)
Kaito:
Kaito AI aims to centralize fragmented information in the crypto sector by creating an AI-driven search engine. Kaito has built one of the broadest databases in the cryptocurrency field. By integrating this database with its internal AI technology and the advanced language models of ChatGPT/GPT-3, Kaito strives to provide a superior search experience compared to existing alternatives.
The AI-driven crypto search engine Kaito AI has announced the completion of a $5.3 million funding round led by Dragonfly Capital, with participation from Hongshan, Jane Street, and AlphaLab Capital.
Kaito AI is known for its agile capture of hot information in the crypto industry, recently garnering attention from the crypto community, which can be highly beneficial for those keeping track of crypto community dynamics. Additionally, the project has not yet issued its token. Engagement with Kaito AI is recommended.
3.3 Google Search (Global and Regional)
Global focus:
Notcoin (NOT): Notcoin is a game based on Telegram where users can earn in-game tokens by clicking on coin images, similar to the "Tap to Earn" concept. Prior to the TGE, "vouchers" represented Notcoin in the game, which can be exchanged for $NOT post-TGE. The project has its own
pre-market trading at https://getgems.io/notcoin, showing that 640,000 users already hold NOT pre-market tokens. It is confirmed to be listed on Binance Launchpool and OKX.
Regional focus:
(1) In Asia, the recent focus has been on hot topics such as AI, SocialFi, and
memecoins.
Notable tokens related to AI include OLAS and FET, while in SocialFi, platforms like Farcaster, Degen, and Pump.fun are gaining attention. Memecoins like Shiba Inu and Floki are also popular.
(2) No significant trends in Africa, CIS, and English-speaking countries/regions:
These regions exhibit a more dispersed interest, with BTC, ETH, and
Solana frequently appearing in trending searches. Users are also showing interest in narratives related to AI and memes.
4. Potential Airdrop Opportunities
UXLINK
UXLINK is a pioneering Web3 social system designed for mass adoption, enabling users to build social assets and trade cryptocurrencies. It includes a highly modular range of DApps, from entry-level to graph formation, group tools to social trading, all seamlessly integrated into Telegram.
UXLINK recently announced a funding round led by SevenX Ventures, Ince Capital, and HashKey Capital, with a total of $15 million raised.
How to participate: UXLINK has issued "IN UXLINK WE TRUST" NFT collection as airdrop vouchers based on users' community contributions, on-chain interactions, and asset status, divided into four tiers—"MOON," "TRUST," "FRENS," and "LINK"—each corresponding to different rights and amounts of UXLINK token airdrops.
Li.Finance
Jumper Exchange is a multi-chain liquidity aggregator supporting cross-chain exchanges and gas fee swaps for most mainstream blockchains,technically supported by Li.FI.
Its developer Li.FI completed a $17.5 million Series A funding round led by CoinFund and Superscrypt.
How to participate: Complete multiple cross-chain transactions on Jumper Exchange. Specific trading volume, number of transactions, and active times can be referenced from past DEX airdrop standards.
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