Bitget Research: Crypto Market Continues to Fluctuate, Ethereum Completes Cancun Upgrade on Goerli Testnet

Announcement posted by Bitget 19 Jan 2024

Bitget Research, 2024/01/18

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:

LIGO (Token) - A BRC-20 token with the Bitcoin Layer 2 concept, Ligo was deployed on December 3, 2023. It has recently experienced a sudden surge in minting activity, with the holder count surpassing 12,000. The minting phase has been completed. The BRC-20 token LIGO has shown decent performance in the secondary market and its future trend will depend on the progress of the project's development.

Memecoin (Token) - Last week, Memeland announced upcoming mining rewards. Over four million accounts have joined the mining activity. To filter out bots and prevent unfair advantage practices, each address must hold at least 69 MEME tokens and pass two CAPTCHA human verification tests. Users have approximately seven days to complete these compulsory quests.

FERRET (Token) - A memecoin representing the Apple AI project name. It achieved a market cap surpassing US$8 million at one point, with a 24-hour trading volume of US$9 million, indicating high interest.

ZUZALU (Token) - A memecoin capitalising on a tweet from Vitalik Buterin. After its TGE in March, it briefly surged and then fell, followed by a period of inactivity. It recently experienced a sudden 40x increase in value within 24 hours and after a day's pullback surged again to a new high. It has a 24-hour DEX trading volume of US$13.78 million, with a market cap of US$19.66 million.

PENDLE (Token) - Recently, Pendle added Liquid Restaking Tokens (LRT) asset components, enabling users to gain more benefits related to LRT. The product's continuous iteration has received positive feedback from the community. Pendle's price has reached a new all-time high, with its product capabilities and rapid development also being recognised by speculative capital.

2. Popular NFTs:

AltLayer OG Badge NFT (NFT) - The Ethereum scaling project Altlayer will be launched on Binance Launchpool and has unveiled its tokenomics. AltLayer OG Badge NFT holders, Oh Ottie! NFT holders, qualified participants of Altitude promotions, qualified re-stakers from EigenLayer, and qualified stakers from Celestia will receive token airdrops. This announcement has led to an increase in the trading volume and price of the related NFTs.

3. Popular DApps:

BananaGun (DApp) - The Telegram Bot project, Banana Gun, has announced that its bot service has been launched on the Solana Network, with new features to be continually added following testing. Banana Gun has also established a collaboration with Jito. The project is currently in the testing phase for sniping and in-house limit order features.

Arbitrum (DApp) - The Arbitrum community has approved the "Long-Term Incentives Pilot Program" proposal. The program will distribute ARB tokens to protocols built on Arbitrum over 12 weeks, with a total cost of 45,815,000 ARB.

Circle (DApp) - Chainlink's Cross-Chain Interoperability Protocol (CCIP) has been integrated with Circle's Cross-Chain Transfer Protocol (CCTP), enabling users to transfer USDC across various blockchains. Additionally, developers can utilise CCIP to create cross-chain use cases involving USDC transfers, including payments and other DeFi interactions.

Jupiter (DApp) - Jupiter's co-founder announced that the JUP token will be launched on January 31. Before the launch of JUP, the team plans to test the new launch platform, focusing on two key areas. The first test involves mockJUP (a simulated version of the JUP token), and the second involves a memecoin set to be released next week.

Blast (DApp) - Developed by Pacman, the founder of Blur, the Layer 2 network Blast has announced the official launch of its testnet. Additionally, Blast has introduced the "Blast BIG BANG" promotion for developers. The winning DApp will be promoted to Blast users after the mainnet launch at the end of February, and 50% of the airdrop will be allocated to developers.

4. Twitter Hot Topics:

No data for this segment today due to anomalies in the data source.

5. Regional Trending Searches:

BTC (Token) - The market's focus is on the outflow of funds from Grayscale's GBTC, with the negative premium of GBTC nearing closure and the redemption pressure caused by BTC continuing. Overall, there is a net inflow of traditional funds into the crypto market via BTC ETFs, indicating that the decrease in BTC's value is likely to be limited.

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: January 18, 10:30 AM 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.