Bitget Research Weekly News: CPI data lower than expected triggers market rally, XRP ruled as non-security by judge.

There have been many new popular currencies and topics in the market in the past week (7/10-7/14).

1. Market Trends

The most discussed topics in the market this week (07.10-07.14) are:

• A US judge ruled that XRP is not a security, causing a market-wide rise

• CPI falls below expectations, triggering a rapid rise followed by a downturn in the market, leading to a narrow range of fluctuations

• Coinbase and Cboe reached a regulatory sharing agreement on Bitcoin spot ETF, BTC remains range-bound waiting for today's CPI data release

• Arkham conducts an IEO and confirms an airdrop, rumors of LayerZero's token issuance lead to an increase in STG's price

• Shibarium mainnet goes live in August, projects within the ecosystem collectively rise

2. Popular Projects

The most popular projects this week (07.10-07.14) are:

FRAM (token): FRAM token has consistently ranked first in on-chain trading volume recently, with daily trading volume reaching 2.11 million USD. What sets this project apart as a BRC-20 token is that 98% of the tokens are controlled by the first 9 addresses, two of which exhibit obvious wash trading behavior. The current market cap of the token is 230 million USD, with 759 holding addresses and 2415 transfers.

XAI (token): Original ERC 20 token concept; aims to explore the field of artificial intelligence; the token has risen by nearly 10 times from yesterday to today, with a trading volume of 7.29 million US dollars in the past 24 hours and a market capitalization of 1 million US dollars; high popularity;

PEPE 2.0 (token): After a continuous decline in the meme 2.0 series, the leading PEPE 2.0 is still in a bearish state, but the trading volume leads the concept tokens, reaching 6 million US dollars. However, most of the meme 2.0 tokens have experienced significant price increases, with SHIB 2, DOGE 2, BABYDOGE 2 seeing gains of +100%, +60%, +40% respectively in the past 24 hours. Social media indicates that there may be a second wave of speculation in the meme 2.0 token sector.

SHIB (Token): Shibarium announced that it will launch in August, and the on-chain trading activity of SHIB has significantly increased. Over the weekend, price projects in the ecosystem saw some gains due to the anticipation of the launch, such as BONE, LEASH, PAW, etc. The ecosystem projects have good popularity and offer good trading opportunities. Currently, Bitget has opened a dedicated SHIB trading zone, allowing users to easily choose assets for trading.

Merkly ONFT (NFT): A multi-chain NFT cross-chain bridge that connects NFTs to various networks through LayerZero and zkSync. With the airdrop expectations of LayerZero and zkSync, Merkly becomes a part of the interaction between zk+Layer 0, resulting in high interaction data and high minting popularity for multi-chain NFTs on Merkly.com.

Fatzuki(NFT): The chubby version of Azuki, created to mock Azuki. It was launched and made available for trading yesterday, with a current trading volume of 350+ ETH. The NFT Reveal has not yet taken place. From the promotional images, the project still follows Azuki's style but with a fuller physique, hence the name Fatzuki. The project has gained significant trading activity, and it is recommended to keep an eye on it.

Starknet(Dapp): The Starknet team has officially announced the deployment of version v 0.12.0 on the mainnet. This version focuses on improving network throughput to enhance scalability and transaction latency. With the successful launch of v 0.12.0 on the mainnet, the team plans to test and deploy v 0.12.1 in the coming weeks, which will continue to improve network efficiency.

Coinbase(Dapp): Coinbase L2 network Base has announced the opening of the mainnet to developers. In the next few weeks, Base will invite early developers to deploy on the Base mainnet, commemorated by the Genesis Builder NFT. In early August, Base will be open to all users. As a result of this news, OP has risen by 12% in the past 24 hours. It is worth noting that Base, which uses the OP Stack underlying technology, does not have any plans for a coin launch.

3. Hot Searches

The most popular topics this week (07.10-07.14) are:

XRP(token): Last night, Ripple achieved victory in the Southern District of New York's United States District Court. Judge Analisa Torres ruled that XRP is not a security. According to the court ruling, using XRP to invest in others, providing funding with XRP, and transferring XRP to executives are not considered securities. Coinbase has directly relisted the XRP trading pair. After the news, XRP reached a maximum increase of over 100%, with a total trading volume of $13.6 billion, which is half of BTC's trading volume.

MATIC (token): As part of the Polygon 2.0 roadmap, Ethereum scaling solution Polygon has proposed a technical upgrade to its native MATIC token. While waiting for community approval, MATIC will be converted to Polygon (POL), a token designed to operate across all Polygon protocols including Proof-of-Stake (PoS), zkEVM, and the SuperNet. MATIC has risen 18% in the past 24 hours, with a rebound of over 50% from its low point;

Celsius (token): The U.S. SEC filed a lawsuit in Manhattan federal court on Thursday against Celsius Network and its former CEO Alex Mashinsky, accusing them of deceiving Celsius customers and personally profiting by manipulating the price of Celsius' proprietary token CEL. Celsius is prohibited from trading by the U.S. Federal Trade Commission (FTC) and fined $4.7 billion, with Celsius and its affiliates agreeing to the judgment.

Arkham (Dapp): On July 10, 2023, Binance will launch its 32nd Launchpad project, Arkham (ARKM), and start the BNB session. Arkham is a crypto-intelligence analytics platform aimed at systematically analyzing and de-anonymizing blockchain transactions. It links blockchain addresses to real-world entities using an AI algorithm engine called Ultra, revealing individuals and companies behind blockchain activity and providing data and analysis on their behavior. 37.3% of the total token supply will be allocated to community incentives and grants for early adoption and incentive activities, including community airdrops.

Bitget Research focuses on "focusing on on-chain data and mining valuable assets" by monitoring on-chain data and regional hot searches to discover cutting-edge value investments, providing institutional-level insights to cryptocurrency enthusiasts worldwide. Up to now, Bitget has provided early value assets in popular categories such as "Arbitrum Ecosystem," "AI Ecosystem," and "SHIB Ecosystem" for Bitget's global users through data-driven in-depth research, creating better wealth effects for Bitget's global users.

[Disclaimer] There are risks in the market, 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 particular circumstances. Investing based on this is at their own risk.