Bitget Research Weekly News: SEC Delays Approval Decision on Seven Bitcoin ETF Proposals, ARB Price Hits Near-Term Low.

Over the past week (08.28-09.01), there have been many new popular currencies and topics in the market.

1. Market Trends

The key topics of interest in the market this week (08.28-09.01) are:

• SEC delays approval decision on seven proposed Bitcoin ETFs, causing ARB price to hit a recent low

• Market correction awaits BTC ETF review progress, Base blockchain's DEX Aerodrome goes live, TVL surpasses $100 million

• Grayscale wins short-term lawsuit against SEC, CYBER surges 100% in two days

• PEPE scandal leads to multiple "new PEPE" hype, HashKey Exchange opens to retail investors

• BASE ecosystem remains active, Starknet TVL rebounds

2. Popular Projects

The most popular projects this week (08.28-09.01) are:

PEPE (Token): PepeCommunity, which has recently gained high popularity, continues to host open Twitter spaces with 210+ participating users and active discussions. On-chain liquidity is valued at $64.2 thousand, with a 24-hour trading volume of $12.16 million. Worth keeping an eye on;

PSYOP (Token): A meme coin issued by Ben.eth. Previously, it experienced a surge of 20 times its value leveraging on Elon Musk's tweets. In recent days, the price has bottomed out and rebounded by 100%, with a 24-hour trading volume of $3 million, placing it among the top on-chain tokens;

USDC (Token): Circle announced that native USDC is now available on the Arbitrum network, allowing developers and users to access it without bridging. Circle Account and Circle API enable businesses to access Arbitrum USDC and take advantage of faster settlement times and lower costs provided by the Arbitrum network. However, there is currently a gradual transition from USDC.e bridged from Ethereum on the Arbitrum network with higher usage than native USDC.

Avive Profile NFT (NFT): Avive Profile NFT is a personal profile NFT for the Avive World project, which aims to create a metaverse social network. Holding this profile NFT can receive vv token airdrops. Currently, there are 27,488 token holders, and the project has gained high popularity. It is worth keeping an eye on.

Pandra (NFT): Pandra is an NFT issued by Polyhedra Network. Cross-chain interactions with the Pandra series NFT may bring future project benefits. Currently, it can interact with zkBridge and LayerZero simultaneously, and the interaction data of this NFT has been boosted by airdrop activities.

Uniswap (Dapp): A judge in the Southern District of New York recently dismissed a collective lawsuit against Uniswap and Paradigm. The plaintiffs attempted to hold these companies responsible for fraudulent tokens sold on the Uniswap AMM. According to US securities laws, this does not mean that Uniswap is liable for fraud and the resulting damages. This is a favorable outcome for Uniswap.

Tether (Dapp): Tether's transparency report shows that Tether currently has nearly $3.3 billion in liquid reserve funds. As of August 24th, Tether's total assets were $86.1 billion, total liabilities were $82.8 billion, and the reserve ratio exceeded 100%. Currently, Tether is using the Bahamian private bank Britannia Bank & Trust to handle its USD transfer operations.

friend.Tech (Dapp): The daily trading volume of friend.tech has decreased by over 95% from $16 million observed on August 21st to approximately $700,000 today. The decline in popularity is significant, and there are ongoing issues with early-stage capital speculation. The current focus of the project is on updating the product and monitoring user activity data.

3. Hot Searches

The most popular topics this week (08.28-09.01) are:

BTC (Token): The U.S. Securities and Exchange Commission (SEC) announced on Thursday that the approval decision for seven recent spot Bitcoin ETF proposals will be delayed due to ongoing review of the application documents. As a result, the gains brought by Grayscale's victory over the SEC have been completely reversed, leading to a downturn in the market.

Merit Circle (Token): Coinspot (Australia's largest cryptocurrency exchange) and Indodax (Indonesia's largest compliant fiat exchange) announced the listing of Merit Circle token trading yesterday. Recently, Merit Circle and space mavericks jointly held a giveaway activity, where 30 winners had the chance to receive Goliath Pioneer Spaceship NFT rewards. The token's trading volume and price surged, with a price increase of 15.3%. The project has gained good popularity.

CYBER (Token): Recent positive news caused a sharp rise in the project's token price. The news of DWF purchasing tokens in the secondary market led to a surge in token prices. The token attracted multiple short-selling attacks, resulting in a further price increase. The token has gained popularity, and Binance announced the highest funding rate value for CYBER contracts at -2.5%.

Bitget Research Institute focuses on "focusing on on-chain data and exploring valuable assets" and provides institutional-level insights for cryptocurrency enthusiasts by real-time monitoring of on-chain data and regional hot searches. Up to now, Bitget has provided early-stage valuable assets in popular sectors such as "Arbitrum Ecosystem," "AI Ecosystem," and "SHIB Ecosystem" for Bitget's global users through data-driven in-depth research, creating better wealth effects.

[Disclaimer] The market carries risks, and investment should 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 specific situation. Invest at your own risk.