Bitget Research Weekly News: Wealth effect of Bot race is evident, Powell's dovish comments lead to market rebound.

2023-07-28 17:51

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Source: Bitget Research

During the past week (7/24-7/28), there have been many new popular currencies and topics in the market.

1. Market Trends

· The most focused topic in the market this week (07.24-07.28) is:

· BOT sector rebounds across the board, and the United States passes the "Stablecoin Transparency Act"

· Powell releases dovish comments, and the rebound of the market leads to the MEME sector rebounding first.

· The market is waiting for the direction to choose after the interest rate hike is implemented, and some meme coins may rebound in the short term.

· The overall market is falling, and Twitter's renaming to X drives DOGE to rise against the trend.

· Bot track wealth effect is obvious, Bitget globally launches BOT trading zone.

2. 热门项目 Popular Projects

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2. Popular Projects

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The most popular projects this week (07.24-07.28) are:

ORDI (token): Recently, there has been some new progress in mainstream BRC 20 projects. UniSat Wallet has announced the launch of the Ordinals native DEX platform "brc 20-swap", where anyone can deploy new trading pairs to add liquidity to the DEX. At the same time, according to media reports, it is raising funds with a valuation of 50 million US dollars, with some investors already confirmed and in communication with Binance Labs. As a leading token in the industry, ORDI has recently shown active performance, with a 24-hour trading volume of 15 million US dollars and over 12,000 on-chain holding addresses.

XXX (Token): As a meme token, the project's concept comes from Elon Musk's "X Holdings" and his renaming of Twitter to "X". The related token is currently experiencing high trading activity with a market capitalization of 2.68 million and a 24-hour trading volume of 4.7 million USD.

ESPR(Token): Belongs to the TG Bot track and can be used to customize the release of ERC 20 tokens. Ordinary users can issue tokens in just a few minutes. The project plans to use the revenue from taxes to repurchase tokens, marketing, and add liquidity. The trading volume in the past 24 hours was $3.85 million.

LINK(Token): Cryptocurrency oracle provider Chainlink has announced the launch of its Cross-Chain Interoperability Protocol (CCIP), a technology aimed at linking applications across public and private blockchains, and has gone live on Avalanche, Ethereum, Optimism (now renamed as OP Mainnet), and Polygon mainnets. Link stated that the synthetic asset protocol Synthetix is using CCIP to seamlessly transfer tokens across chains through a highly secure burn and mint model. Meanwhile, digital asset platform Matrixdock has announced the use of Chainlink's Proof of Reserve (PoR) to increase transparency for its short-term government bond token "T-Bill" on the Ethereum mainnet.

Tabi Artifact Chest (NFT): An NFT issued by Tabi, a BSC-based NFT marketplace. According to the project's Twitter introduction, it aims to "bridge Web 2 to Web 3 through gameplay and NFTs." Recently, several KOLs have tweeted that Tabi is the next Arkham (which has just completed its coin issuance and airdrop), and there has been a significant increase in interactive users in anticipation of the airdrop.

Merkly (NFT): A cross-chain bridge for multi-chain NFTs that connects NFTs to various networks through LayerZero and zkSync. With the expected airdrop on LayerZero and zkSync, Merkly has become a part of the interaction between zk+Layer 0, resulting in high interaction data and high demand for Minting multi-chain NFTs.

Unibot (Dapp): Unibot is a type of Telegram trading tool robot that can help users achieve faster trading than DEX. Some users have also achieved good returns through Unibot. CG and CMC have successively added Telegram Bot to the token category, and it has been popular recently. The UNIBOT token has rebounded significantly in the past 24 hours, with a trading volume of $18,120,639 and a very strong token price performance. Currently, Unibot has been launched on Bitget spot trading platform.

zkSync Era (Dapp): On July 25th, Eralend, a top lending protocol in the zkSync ecosystem, was attacked, which had a significant impact on the entire ecosystem. Recently, the TVL (total value locked) of zkSync has continued to decline. According to data from the l2beat website, the current TVL of zkSync is $442 million, which is only 60% of the peak of $735 million.

Linea (Dapp): Linea, an Ethereum Layer 2 solution launched by ConsenSys, has announced the opening of access to the Linea mainnet Alpha version to the entire Linea community. Developers can access the Rollup and ETH bridge UI, as well as RPC endpoints in Infura and MetaMask. Currently, the Linea mainnet has crossed 13,194 ETH, with a TVL of $24.71 million. The project is progressing rapidly and can be continuously monitored.

3. Hot Searches

The most popular topics this week (07.24-07.28) are:

FOMC (Event): The Federal Reserve announced a 25 basis point increase in the benchmark interest rate to a range of 525-550 yesterday, and did not rule out the possibility of another rate hike in September. There will be no interest rate cuts this year. The DeFi project tokens on the RWA track were hyped due to the rate hike, with SNX, MKR, and COMP showing significant increases. The oracle Link can provide off-chain price feeds for RWA, leading to a price rebound. Mainstream tokens such as BTC and ETH experienced a temporary rebound due to the release of risk sentiment.

WLD (Token): WorldCoin, a highly anticipated project by Sam Altman, the founder of ChatGPT. It was first launched on trading platforms such as Binance, OKX, and Bitget. After its launch, there were many controversies and discussions about its narrative and token economy. On the first day of its relaunch, the price of WLD fell below $2, but the next day it rose sharply to around $2.5.

DOGE (Token): Musk retweeted a new logo for Dogecoin and My Doge wallet UX/UI graphic designer DogeDesigner, which is related to the X video tweet. His personal social media account has been repositioned as XD (Twitter X+DOGE symbol).

Bitget Research Institute focuses on "focusing on on-chain data and mining valuable assets", mining cutting-edge value investments through real-time monitoring of on-chain data and regional hot searches, and providing institutional-level insights for cryptocurrency enthusiasts. As of now, it has provided Bitget global users with early value assets in multiple popular sections such as Arbitrum Ecology, AI Ecology, and SHIB Ecology, creating better wealth effects for Bitget global users through data-driven in-depth research.

【Disclaimer】The market carries risks and investments should be made with caution. This article does not constitute investment advice, and users should consider whether any opinions, views, or conclusions in this article are suitable for their specific situation. Investing based on this article is at your own risk.