Bitget Research: Hong Kong Likely to Allow Retail Investors to Trade Cryptocurrencies

In 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 today's Bitget Research we cover:

1.Popular Tokens

2.Popular NFTs

3.Popular DApps 

4.Twitter Hot Topics

5.Regional Trending Searches 

In Summary:

1. Popular Tokens:

Hong Kong-related tokens KEY, CFX, ACH, LINA, and HIGH (Token) see notable increases — According to Bloomberg, the Chinese Hong Kong Securities and Futures Commission will hold a press conference at 4:15 PM today regarding the consultation results on the regulatory requirements for virtual asset trading platform operators. Bloomberg anticipates that Hong Kong investors will be able to trade cryptocurrencies such as BTC and ETH under suitable protection measures starting in June. 

RFD (Token) — REFUND was created by the whale wallet blurr.eth. Several influencers including @Yourpop8 and @stekisteks promoted it on Twitter. Famous ENSs like 氷の王女.eth, and pepe-frog. eth have bought from the Uniswap pool and added positions in waves, resulting in a relatively distributed ownership. Bitget has listed RFD in the Meme Zone.

PSYOP (Token) — A highly popular yet controversial memecoin created by NFT influencer, Ben. 0xScope tweeted that the token distribution of the new memecoin project PSYOP launched by crypto influencer ben.eth is highly centralised, with 93.45% of the token supply held by Ben. Furthermore, Ben.eth may face a class-action lawsuit for alleged wire fraud. Caution is advised when considering engagement.

BWLD (Token) — Beta WLD (i.e., Worldcoin beta token) has drawn attention due to the relationship between Worldcoin and OpenAI CEO Sam Altman. It remains high in popularity on the Polygon chain.

0xMT (Token) — Mineable Token uses Bitcoin’s value storage concept. It employs the proof-of-work mechanism, with the reward rate halving in each Reward Era. The aim is to have a fairly distributed token. This is accomplished through contracts on the Arbitrum blockchain. This token has not yet established a liquidity pool.

PLOUTΩS (Token) — This is a memecoin with the concept of the ancient Greek god of wealth. Its on-chain data is excellent (14,604 on-chain transactions in the past 24 hours), but the activity level of the social media and community is low and does not match the on-chain trading activity. The deployer directly destroyed 50% of the tokens and 46% of the tokens were added to the locked liquidity pool. 

GOD (Token) — A memecoin that surged and then plummeted shortly after its Token Generation Event (TGE). It has fallen by over 80% in the past 24 hours. The token contract has a transaction cooldown function, preventing users from selling tokens within a certain time or number of blocks after purchase.

AiONE (Token) — A platform for AI as a Service (AIaaS) that has raised US$3 million in private funding. Its financing information has been published on the U.today website and on Twitter. The website appears to be quite professionally done, and there’s already a usable product. The on-chain transactions in the past 24 hours have reached 32,157, with a trading volume of US$2.31 million. There are no apparent risks in the contract.

PepeDubai (Token) — A memecoin derived from PEPE, this token carries a 0% buy tax and a 10% sell tax. There have been 17,387 on-chain transactions amounting to a trading volume of US$1.08M in the past 24 hours. The total liquidity is US$162,890, indicating a risk of dramatic price volatility.

2. Popular NFTs:

Loyalty Program (NFT) — The NFTs minted on zkBridge Mainnet Alpha are part of the activity conducted by Polyhedra x Galxe. Users mint the NFT to earn points in anticipation of an airdrop, with over 70,000 people participating in the activity on Galxe.

3. Popular DApps:

zkSync (DApp) — zkSync has recently been carrying out joint promotions with Galxe, involving projects and tokens such as XY Finance and Transit. Galxe’s on-chain activities can generally bring higher crypto community traffic to projects and their ecosystems, possibly leading to trading opportunities for the token. zkSync Era’s mainnet was launched a few months ago, and interacting with the DApp might lead to potential airdrop opportunities for zkSync tokens. It is essential to stay updated on this DApp. 

Pixels Game (DApp) — Pixels is a pixel-style, interactive Web3 farming game. In the game, players can use memecoins like PEPE to purchase fertiliser. Recently, several in-game parties were held in collaboration with other projects, stimulating daily activity.

SLM Games (DApp) — This is a cross-chain crypto casino platform built around BTC, ETH, BSC, EOS, WAX, TELOS, ThunderCore, and Solana. By incorporating GameFi, it offers more diversified gameplay for the ecosystem.

Gelato (DApp) — Gelato Network is a protocol focused on automating Ethereum smart contracts. Essentially, it’s an execution-layer infrastructure and a powerful tool for Web3 developers, aiming to build a large and perfect smart contract robot system. When certain preset conditions are triggered (both on-chain and off-chain), the system captures the signal and automatically executes the corresponding operations of the smart contract as required. The token GEL has shown no significant fluctuations recently. It is essential to observe this project.

ISKRA (DApp) — A blockchain gaming platform built on Klaytn, bringing together gamers and game studios with a continuous increase in daily active users. The platform allows gamers to explore and enjoy high-quality blockchain games while creating their own communities. Yesterday, the announcement of Normain Metaland conducting an INO on the platform garnered significant community attention on social media.

PlaybuxQuest (DApp) — Playbux is a metaverse project on the Binance Smart Chain that integrates real-world shops (shop-to-earn), DeFi, NFT, and virtual community promotions. Users can explore the blockchain world (such as PancakeSwap, 1inch, NFT marketplace, mini-games, etc.) within Playbux’s metaverse while also experiencing real-world shopping and getting rebates on the platform. The project is currently running an airdrop promotion, and recent on-chain interactions have been promising.

4. Twitter Hot Topics

OVR (Token) — Apple is set to hold an “Apple Park Special Event” on June 5, rumoured to be a launch for new AR/VR products. Apple Reality Pro is expected to become one of the most powerful XR headphones. Capitalising on Apple’s hotspot, the AR project OVR has launched an App Store Giveaway promotion that will take place between May 22 and June 9. The CEO will give a speech at Web3 Live London on June 1. OVR quickly climbed to first place on Coingecko’s Top Trending Cryptocurrencies list, with its price experiencing a more than 150% increase in the past week and a 50% increase in the past 24 hours.

5. Regional Trending Searches:

Bitcoin (Token) — The price of Bitcoin remains stable at around US$27,000. With the waning popularity of BRC20, Bitcoin lacks new narratives and price catalysts. Simultaneously, given the unstable external environment, traders are waiting for the latest developments on the US debt ceiling impasse. Bitcoin has been relatively stable recently.

Read more:

Blockchain Profiles: ETH Chain, BSC Chain, Polygon Chain, Arbitrum Chain

DApp Ecosystem: All Chains, ETH Chain, BSC Chain, Polygon Chain, WAX Chain, Solana Chain, Arbitrum Chain, GameFi Sector Across All Chains

Gas Fee Consumption: ETH Chain, BSC Chain, Polygon Chain,  Arbitrum Chain

Google Trends - East Asia, South Asia, Southeast Asia, Hong Kong, Macau, and Taiwan, English regions, Europe, CIS Region, Middle East, Latin America & Africa

Written by: Bitget Research

Data collection time: 23 May 2023, 10:30 UTC

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)

Disclaimer: Cryptocurrencies are subjected to high market risk and volatility despite high growth potential. Users are strongly advised to do their research and invest at their own risk.

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