Bitget Research Weekly News: SEC lawsuits lead to market panic, and the life cycle of Meme coins is significantly shortened

1. Market Focus Market Trends

1. Market Focus Market Trends

This week (06.05-06.09) the focus topic that the market pays most attention to is:

• Market volatility continues to decline, and the EU's encrypted asset market law MiCA is officially released

• The market turnover is sluggish, and the life cycle of meme coins is significantly shortened

• BTC led the market to rebound after reaching the important support level of $25300, and the Optimism ecology is relatively strong

• The SEC lawsuit triggered market panic, and market pessimism briefly extinguished the popularity of Meme coins

• 2. Popular Projects

2. Popular Projects

The hottest projects this week (06.05-06.09) are:

MXRC（token）：The BRC 20 project created by NFT OG Kol @atgoodm, the project had the problem of minting coins being cracked and rushing to mint during the Free mint stage, and it also affected some whitelist users who were not able to mint coins. The project was subject to certain FUD. The current market value of tokens is 1.338 million US dollars, The hourly transaction volume on the chain was 266,000 US dollars, with 12,490 users, and the popularity dropped further;

FERC（token）：The concept of fair distribution of ETH, imitating Brc 20 tokens, today's price has rebounded, the current trading volume in the past 24 hours is 3.57 million US dollars, an increase of 22.42% in the past six hours, the contract has the risk of additional issuance, the number of holders is 5554, you can continue to pay attention ;

RDNT（token）：KOL and OG trader Andrew Kang published an article about Radiant today, and described Radiant as the king of the new currency market. The data is outstanding. In the secondary market, the price of RDNT is relatively strong. It rose against the trend, with an increase of 8% in the past 24 hours. The current market value is 81 million US dollars, and the 24-hour trading volume is 38.56 million US dollars;

MATIC（token）：MATIC is currently facing a greater risk of litigation. The SEC mentioned in the lawsuit against Binance that cryptocurrencies listed as securities include but are not limited to BNB, BUSD, and MATIC. On June 6, a giant whale address transferred 115 million MATIC (approximately US$95.22 million) to Binance.US, and is currently under pressure from a large potential sale;

USDT、USDC（token）：Recently, due to the SEC’s suppression of centralized exchanges and the prosecution of Binance and Coinbase, the number of stablecoins on centralized exchanges has seen a significant outflow, with a drop of more than 1.8 billion US dollars in the past three days. Although both Binance and Coinbase have issued documents stating that the security of customers’ assets will be guaranteed, they still cannot stop the outflow of assets, and the subsequent litigation situation has become a focus of attention;

Greenfieldtestnet（NFT）：The new galxe task released by Polyhedra Network, a zero-knowledge proof concept project, currently has 52,367 addresses mint. Due to the project financing of 25 million US dollars, it has been collectively followed by airdrop hunters, and the participation is extremely high;

zkSync Era（Dapp）：After the optimization and upgrade on June 2, the zksync era gas fee was reduced compared to before. On June 7, the zksync withdrawal was delayed. After the correction, some congested cross-chain requests began to be executed, and the data increased slightly;

Seaport（Dapp）：seaport is a new open source web3 marketplace protocol for buying and selling NFTs safely and efficiently. Seaport was first launched on Ethereum, and now polygon is also online. This data is a standard to directly measure the trading volume of Opensea; as the price of blur tokens falls and the popularity fades, the trading frequency and volume of blur have also declined, which is the most intuitive The performance is that the seaport gas consumption exceeds blur again;

Stickman（Dapp）：3. Hot Search Topics Hot Searches

3. Hot Search Topics Hot Searches

The hottest topics this week (06.05-06.09) are:

Binance（EVENT）：On June 5, the SEC sued Binance and CZ for violating US securities rules. According to the SEC's allegations against Binance and its CEO CZ, the SEC listed BNB and BUSD as securities. Binance’s net asset outflow from 0:00 to 9:00 today was US$2.18 billion, accounting for about 4% of the platform’s total assets (US$54.33 billion);

Coinbase Stock：The SEC filed a lawsuit against the cryptocurrency exchange Coinbase in New York federal court. Coinbase's stock price opened down 18%, and the intraday price hit a new low since January 13, 2023. Cathie Wood's ARK fund increased its position by nearly 420,000 shares of Coinbase today, about $21.64 million;

ADA、MATIC（Token）：[Disclaimer] There are risks in the market, and investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions in this article are suitable for their particular situation. Invest accordingly at your own risk.

Bitget Research Institute focuses on "focusing on the data on the chain and mining value assets". By constantly monitoring data on the chain and regional hot searches and other dimensions, it mines cutting-edge value investments and provides institutional-level insights for crypto enthusiasts. So far, it has provided Bitget global users with [Arbitrum Ecology], [AI Ecology], [SHIB Ecology] and other early value assets of many popular sectors, and created better wealth for Bitget global users through in-depth research driven by data effect.

[Disclaimer] There are risks in the market, and investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions in this article are suitable for their particular situation. Invest accordingly at your own risk.