Bitget Research Weekly News: BlackRock Reapplies for BTC Spot ETF, Rise in Meme Sector

Last week (7/3-7/7), the market witnessed several new popular coins and topics.

1. Market Trends

The market trends that drew the most attention this week (07.03-07.07) are:

• Multichain suspected to be hacked, causing market panic and decline

• VMPX casting gas consumption exceeded 1900 ETH, market continues to fluctuate

• PEPE 2.0 surged, leading to an increase in the Meme sector, while mainstream coins entered a short-term oscillation mode

• BlackRock re-applied for BTC spot ETF, stimulating a market rally, BCH, LTC, and other POW leading coins begin to consolidate

• COMP continues to lead the market, DeFi sector fluctuates upwards

2. Popular Projects

The most popular projects this week (07.03-07.07) are:

WHEE (token): A brc20 meme token. @markjeffrey, a KOL with 5.35 million followers on Twitter, has recommended and invested in it multiple times. The token's current market value is $6.8 million, with an 8% increase in the past 24 hours and a trading volume of $95,000. Recently, the project introduced the EVM cross-chain bridge, Multibit Bridge, which supports the cross-chain transactions of ORDI, OXBT, and WHEE, attracting increased attention.

SHIB (token): A meme coin that experienced a significant surge during the previous bull market cycle. The token's recent performance has been weaker than the overall market, but its trading community base is still solid, and there is room for growth in a bullish market. Additionally, the project is developing the Shibarium public chain, which may have promising prospects in the future and should be closely monitored.

VMPX (token): The eVMPX token will be officially available for minting at 1:25 am on July 5th. Users only need to pay the gas fee to mint. In the future, eVMPX can be exchanged for XN, the public chain token launched by XEN, at a ratio of 1:3. This has led to increased popularity recently. The VMPX token in Brc 20 format will experience certain dilution in token value, resulting in a daily price drop of 40%. Yesterday, the VMPX Mint contract on Ethereum burned 1900 ETH, pushing up the network gas fee to around 50. Bitget has listed VMPX-ERC20 (VMPXERC20) in the Meme section, which is worth paying attention to;

PEPE 2.0 (Token): This project was created by a whale who was previously blacklisted by PEPE. It has recently skyrocketed by 5 times from the bottom, leading to some meme takeoffs. The on-chain liquidity is currently 1.46 million USD, with a trading volume of 9.33 million USD in the past 24 hours. The contract has measures to prevent large-scale transactions. Bitget was the first exchange to list this project among CEXs, and Kucoin announced its listing today, generating a lot of buzz. It's worth keeping an eye on;

Fayden (NFT): Project FADA. According to on-chain data, the contract follows the ERC-721 standard. There were many "Set Approval For All" operations yesterday. The NFTs of this project are available for trading on OpenSea, with a total trading volume of 25 ETH and a floor price of 18.8 Matic. A total of 5552 NFTs have been issued, with 1005 holders.

Zerion DNA (NFT): Zerion DNA is the first generative NFT that evolves and changes with users' exploration of Web 3. Wallet activities will shape the appearance of NFTs to reflect the real Web 3 journey. This means that Zerion DNA will change over time, depending on the gas consumed, the assets held, the supported networks, and more;

Playbux (Dapp): The metaverse project on the BNB chain integrates real-world shops (shop to earn), DEFI, NFT, and virtual community activities. Users can explore the blockchain world (such as pancakeswap, 1 inch, NFT marketplace, mini-games, etc.) in Playbux's metaverse. They can also experience real-world shopping on the platform and receive rebates. Playbux has entered the top-ranking list of social active users on the chain, with over 130,000 users in the past 30 days, showing high popularity;

Hooked (Dapp): A Binance Launchpad project, based on the web 3 education concept, launched an AI-like product called Hooked Academy Sensei in collaboration with OpenCampus, aiming to create the future learning experience. Currently, the token trading activity is average, mainly used by user groups on the app. The wallet was officially launched half a month ago, gaining significant attention in a short period;

LayerZero (Dapp): A cross-chain protocol for the entire chain, allowing communication between Dapps deployed on different chains without the need for any intermediate chains or consensus mechanisms. Currently, various contracts using the LayerZero underlying technology have accounted for nearly half of the Gas consumption rankings on the Arbitrum chain, including NFTs on Stargate, Woo, Holograph, etc.;

3. Hot Searches

The most popular topics this week (07.03-07.07) are:

BTC (Token): Larry Fink, CEO of BlackRock, referred to cryptocurrencies as "digital gold" and called Bitcoin an international asset during an interview with Fox Business. Bitcoin is not an investment in gold to hedge against the heavy problems of any country or the depreciation of any country's currency but rather an international asset. The public support of BTC by BlackRock's CEO has substantively benefited the price of BTC, ending its phase of corrective decline.

Litecoin (Token): Supported by well-known US institutions Fidelity, Citadel, and Charles Schwab, the cryptocurrency exchange EDX supports trading of BTC, ETH, LTC, and BCH. LTC and BCH have had good performance in the past, but experienced a pullback of about 15% yesterday, leading to an increase in market liquidation volume. The volatility of related tokens has increased, and investors need to have a strategy for taking profit and setting stop loss.

PENDLE (Token): Pendle's TVL has steadily increased on a monthly basis since January, reaching over $120 million from $15 million at the beginning of the year. Binance is optimistic about the LSDFi track and announced the listing of PENDLE yesterday. After a sharp rise followed by a steep fall, the price of PENDLE rebounded yesterday, driving up the price of LBR (Lybra Finance), which is also part of the LSDFi track. Bitget has listed LBR.

SHIB (token): A meme coin that experienced a surge in the previous bull market cycle. The recent performance of the token has been weaker than the market as a whole, but the trading community base is still good, providing upside potential in a bull market. Additionally, the project is still developing the Shibarium public chain, which may have good performance in the future. Today, the SHIB 2.0 token appeared on the chain with a price surge of 700x. Bitget has listed it, and users can trade it there.

Bitget Research Institute focuses on "focusing on on-chain data and discovering valuable assets" and provides institutional-level insights to cryptocurrency enthusiasts by constantly monitoring on-chain data and regional hot searches. So far, it has provided early-stage value assets in popular categories such as Arbitrum, AI, and SHIB ecosystem to Bitget's global users. Through data-driven in-depth research, it creates a better wealth effect for Bitget's global users.

[Disclaimer] The market involves risks, and investment should be cautious. This article does not constitute investment advice. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. By investing based on this, one takes responsibility for their own actions.