Bitget Research: MEME Coins Experience Surge, CME Bitcoin Futures Trading Volume Hits Two-Year High

Announcement posted by Bitget 07 Dec 2023

Bitget Research, 2023/12/05

In the past 24 hours, there have been many new popular tokens and topics emerging in the crypto 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:

DRAG (Token) - A BRC-20 token with the Year of the Dragon concept, DRAG saw an increase of over 10x in the past 7 days. It has a daily trading volume of US$1.35 million, with 1331 transactions within 24 hours. However, the number of holders is relatively low, so it's advisable to monitor with caution.

DAWG (Token) - There's notable activity in on-chain transactions for DAWG, with a 24-hour trading volume exceeding US$3 million. The token's LP is locked, and the contract has been renounced. The token is gaining attention on social media, with a single tweet typically receiving between 5000 and 10000 views. An influencer with 47,000 followers, @TheShibLord1, mentioned DAWG.

BSSB (Token) - On November 29, Bitstable, a Bitcoin-based cross-chain DeFi protocol, announced that an unauthorised party had acquired most of the available supply during the Bitstable public sale on Bounce Finance. Bitstable will destroy 75% of the BSSB tokens involved in the fixed swap auction.

CYBERGROK (Token) - A token inspired by Cybertruck, with a 24-hour trading volume of US$2.86 million. The project has a 100% sell tax, making it a typical rug pull scheme. It is not advised to focus on this token.

LINK (Token) - LINK's trading activity has recently increased. As per recent Coinglass data, several of Grayscale's cryptocurrency trust products have exhibited significant premiums. The premium rate for the LINK (Chainlink) Trust reached 200%. LINK token has maintained a long-standing position at the forefront of the Nansen Smart Money Inflow List.

xPet (Token) - A SocialFi project on the Arbitrum chain, with gameplay similar to Fren Pet, requiring players to feed, accompany, and ensure the survival of their pets, thereby helping them earn token rewards. Unlike Fren Pet's "main screen" gameplay, xPET operates through a browser plugin, enabling greater interaction possibilities with Twitter. The token has been launched.

2. Popular NFTs:

Smart Cats (NFT) - A recent NFT project launched by SmartLayer, currently experiencing high popularity on the chain, with the number of holders reaching 880,000.

!fundrop Finale ID (NFT) - The NFT mint aggregator mint.fun has announced the conclusion of the !fundrop event. Currently, !fundrop Pass holders are allowed to mint !fundrop Finale IDs on Base. The attributes of these IDs are generated based on points, streaks, and level achievements. Since the commencement of !fundrop, over 513,547 people have minted the !fundrop Pass, and more than 382 ETH in rewards have been distributed.

3. Popular DApps:

ChangeNow (DApp) - This is a non-custodial cryptocurrency and fiat exchange where users can trade over 200 tokens with no registration or trading limits. The project integrates DeFi and CeFi, with an average exchange time of 5 minutes, and has a very active on-chain trading volume.

Maestro (DApp) - Maestro is a renowned on-chain bot, and the crypto community highly favors it. With the advantage of being an early player in the market, Maestro has established a substantial user base. Currently, Maestro's daily transaction fees have increased to previous high points, ranging between US$150,000 and US$200,000, which helps it maintain its top position in the BOT sector.

PancakeSwap (DApp) - PancakeSwap is a decentralised exchange based on the BSC. Recently, it has significantly increased its trading volume and doubled its market share with the launch of its V3 version. PancakeSwap V3 brings numerous improvements, including increased capital efficiency, reduced trader fees, enhanced rewards for liquidity providers, and an improved user experience. It has also ventured into blockchain gaming, introduced fiat channels, and expanded its Yield Farming. Furthermore, PancakeSwap plans to automate liquidity provision, introduce veCAKE for governance voting, and integrate a notification system. It also plans to increase prediction fees through multi-chain expansion, reduce the maximum supply of CAKE, restore trading competitions, and explore partnerships with asset-backed protocols and expansion into GameFi platforms.

LayerZero (DApp) - LayerZero is a cross-chain protocol that facilitates communication between DApps deployed on different blockchains without the need for any intermediary chains or consensus mechanisms. LayerZero has added "ZRO withdrawal" support to its 18 existing chains.

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.

QuestN (DApp) - QuestN is a task platform, formerly known as Quest3, offering over 40 types of tasks and activity templates that include both on-chain and off-chain activities. These templates are free, open to everyone, and are continuously expanding, reflecting the platform's commitment to sustainable growth in marketing for Web3 projects. QuestN's vision is to become a native advertising platform for Web3, leveraging its capabilities to enhance project visibility and community engagement.

PlayEmber (DApp) - PlayEmber is focused on delivering customised monetisation solutions through its Unity-based software development kit, aiming to facilitate the transition of game advertising revenue from the Web2 market to Web3. The start-up has also received substantial strategic support from the NEAR Foundation. The test version of PlayEmber has been launched and has gained significant popularity.

Banana Gun (DApp) - The project is a Telegram Bot that helps users trade on DEXs. BananaGun's official announcement states that the protocol's total trading volume has reached US$388 million, ranking second in the BOT sector. Concurrently, the on-chain trading volume for its token hit a record high of US$8.65 million in one day, yielding 28 ETH in fees.

Seg Finance (DApp) - A Play2Earn project on the BSC, where users can stake their shoe NFTs or provide liquidity to earn passive BNB profits. The project is now open source, and its contract on the BSC is transparent. It has over 1500 followers on Twitter and is an essential project to stay updated on.

Vertex (DApp) - Vertex is a decentralised exchange (DEX) protocol based on Arbitrum, offering cross-margin trading services. It integrates spot, perpetual contracts, and money markets into one application. It has recently completed its TGE, and the VRTX token is now trading on Bitget. The platform has a 24-hour trading volume of US$1.34 billion and an open interest volume of US$22.19 million.

4. Twitter Hot Topics:

ORDI (Token) - Over the weekend, following the accelerated rise of Bitcoin, the leading BRC-20 asset of the BTC ecosystem, ORDI, doubled in value over two days. The rise of ORDI also stimulated the growth of similar assets in the sector, indicating positive momentum in the BTC ecosystem. ORDI was listed on Bitget in May this year and has achieved an increase of more than 10x from its low point. Yesterday, ORDI reached a new ATH, breaking through US$54.

5. Regional Trending Searches:

BTC (Token) - Yesterday, BTC surpassed US$42,000 and its price is currently stabilised at around US$41,700. On-chain data shows that large whales have begun to gradually take profits. According to on-chain analyst Yujin's monitoring, an address that withdrew 6000 BTC (worth approximately US$158 million) from Binance between August 24 and September 2 at an average price of US$26,444, transferred 1000 BTC (worth US$41.46 million) back to Binance. This address still holds 3000 BTC.

BTC Profile - BRC-20 BRC-20 Monitoring Module

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

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

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

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

Written by: Bitget Research

Data collection time: December 5, 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)

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.

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.

About Bitget

Established in 2018, Bitget is the world's leading cryptocurrency exchange and web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Bitget Wallet, the web3 arm of Bitget, is a decentralised multi-chain digital wallet supporting 250,000+ cryptocurrencies across 90+ chains, enabling exploration of DEX, DeFi, NFT, and metaverse. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organiser PGL.