Bitget Research: Bitcoin Falls Below US$41,000, Crypto Market Awaits FOMC Interest Rate Decision

Announcement posted by Bitget 14 Dec 2023

Bitget Research, 2023/12/13

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:

SATS (Token) - Influenced by the Binance listing, SATS experienced a notable short-term surge, peaking at an increase of 127%, with its on-chain 24-hour trading volume reaching US$21.85 million. Concurrently, Unisat announced that it would use SATS as the functional token for brc20-swap, making it the first functional token in the BRC-20 sector.

PoWERC20 (Token) - The project, which distributes ERC-20 tokens through PoW mining, initiated trading with on-chain liquidity deployment yesterday. Given the relatively low liquidity, cautious participation is recommended for users.

MUBI (Token) - MUBI is the native protocol token of the Multibit, a BRC20-ERC20 cross-chain bridge project. With the growing popularity of the BRC-20 ecosystem, the hype has also spread to Ethereum. Multibit enables users to cross-chain BRC-20 tokens from the Bitcoin Network to the Ethereum Network to engage in the corresponding DeFi ecosystem. This distinctive functionality has garnered considerable market attention and speculation.

BEAM (Token) - $BEAM serves as the native cryptocurrency of the Beam Network, a gaming network authorised by the Merit Circle DAO. Following a brand upgrade, the token price has shown a sustained increase. The project has introduced its network recently and plans to expand its ecosystem, focusing on gaming in the near future.

ARB (Token) - ARB is the native token of the Arbitrum Network. With the upcoming Cancun upgrade of the Ethereum Network, significant investment has flowed into the hype surrounding Layer 2 tokens. As a leading Layer 2 token, Arbitrum is considered a key player in this hype.

2. Popular NFTs:

Bitcoin Frogs (NFT) - This project is a popular Ordinals NFT series. Yesterday, with the pullback in the BRC-20 tokens, the price of these NFTs was also hyped, resulting in notably active trading volumes.

Smart Cats (NFT) - Recently launched by SmartLayer, this NFT project has gained considerable on-chain popularity. Currently, it has 880,000 holders.

MATR1X KUKU (NFT) - MATR1X FIRE is a metaverse mobile shooting game with a Cyberpunk art style. KUKU is the NFT of the MATR1X platform. KUKU holders can enjoy profit-sharing and other benefits of the Matr1x creators' ecosystem. There are 1893 holders of this NFT, with a floor price of 2.57 ETH.

3. Popular DApps:

Linea - ZkEvmV2 (DApp) - According to Dune Analytics, the Linea mainnet has bridged 262,996 ETH, with transaction counts reaching 722,144 and the number of interacting addresses totaling 392,345.

Port3_aggregator (DApp) - Port3 is a blockchain project designed to become a Web3 social data gateway. It provides open data services by aggregating Web2 and Web3 data. Port3 is structured around three fundamental modules: data collection, data reading, and data application. These modules are integral in aggregating various types of information, including community dynamics, social media trends, and on-chain transaction data. It aggregates data through DAO tools and displays the results on its SoGraph.xyz page, including community trends and market movements. The Port3 protocol forms the basis of its open and collaborative data layer, allowing data providers to control their data, earn rewards for providing data, and protect their privacy. Port3 facilitates the rapid migration of Web2 users and data to Web3 and is committed to achieving secure and efficient social data aggregation.

Trader Joe (DApp) - Trader Joe is a decentralised exchange (DEX) operating on the Avalanche/Arbitrum blockchain. It is not only a DEX but also offers staking, lending, liquidity pools, NFTs, farming, and a launchpad platform. Trader Joe recently introduced a V2.1 upgrade, enhancing its liquidity ledger model and introducing new features like automated pools. As a decentralized cryptocurrency exchange, Trader Joe provides a range of services, including token exchanges through an automated market maker (AMM), staking its native token JOE, yield farming, lending, liquidity pools, leveraged trading, an NFT marketplace, and launchpad platform.

Stargate (DApp) - Stargate has officially launched on the Base chain, providing a comprehensive cross-chain service experience.

QuestN (DApp) - QuestN is a Web3 task certification platform specifically designed for long-tail B2B clients. Unlike mainstream task certification platforms in the same field, such as RabbitHole and Galxe, QuestN has had no barriers to entry since its launch, allowing B2B clients of various sizes to publish tasks through the platform. QuestN is touted as a "Do-to-Earn" platform, where projects must first fund a liquidity pool for task rewards. Users, upon completing specified tasks, will be able to receive payments from these pools.

Yuliverse (DApp) - Yuliverse is a free-to-play blockchain metaverse game that combines GameFi and SocialFi elements, utilising NFTs and the cryptocurrencies ARG and ART. Designed to enhance social interaction and engagement, it allows players to explore the real world and build connections. Yuliverse's game mechanics, featuring money-earning elements, deliver a distinct gaming experience to players.

Raydium (DApp) - Raydium is a decentralised exchange (DEX) based on the Solana blockchain, utilising the Automated Market Maker (AMM) model. It is characterised by its high speed and low cost, and its integration with the Serum DEX enhances trading depth and liquidity. Raydium supports token trading and also offers liquidity pools, OTC trading, and new project launches. Recently, with the recovery of the Solana ecosystem, Raydium, as a leading DEX on Solana, has attracted significant speculative capital.

Vertex (DApp) - Vertex is a decentralized exchange (DEX) protocol based on Arbitrum, offering cross-margin trading services. It integrates spot, perpetual contracts, and money markets into one application. It is currently the most active derivatives platform on Arbitrum.

Wormhole (DApp) - On December 6, the cross-chain infrastructure Wormhole announced the launch of Wormhole Queries, a cross-chain instant data retrieval service. This service enables application developers to extract any on-chain data on demand. Wormhole indicates that compared to the push model, Queries offers less than 1-second latency and can reduce gas fees by 84%.

4. Twitter Hot Topics:

SOL (Token) - Recently, Solana Network's TVL rose to around US$900 million, with multiple protocols also showing significant growth in TVL. The airdrops by ecosystem projects are creating a strong wealth effect. The SOL token surged for several days before experiencing a pullback, dropping from a high of US$77 to US$65.

AVAX (Token) - Avalanche has been rising along with the broader market, showing a strong price trend. Its value nearly doubled in a single month, reaching over US$40 before pulling back with the market. It is currently priced at US$35.

5. Regional Trending Searches:

SATS (BRC-20 Token) - Following Binance's announcement of listing SATS yesterday, the token's value saw a substantial rise, doubling in price amid intense fluctuations. This event also triggered heightened trading activity and intense price volatility for other BRC-20 tokens, including ORDI and RATS.

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 13, 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.