Bitget Research Institute Weekly News: ORDI fell first and then rose due to the Luke incident, LayerZero may issue coins in the first half of next year

In the past week (12.4-12.8), many new popular currencies and topics have appeared in the market.

1.Market Trends

This week (12.04-12.08) the market’s most focused topics are:

• Solana ecological tokens soar, LayerZero may issue tokens in the first half of next year

• Bitcoin exceeded $44,000, ORDI fell first and then rose due to the Luke incident

• BTC breaks through 43,000 US dollars, and the Bitcoin ecosystem continues to rise

• Prices in the MEME sector generally rose, and CME Bitcoin futures trading volume hit a two-year high

• BTC breaks through 40,000 US dollars, ORDI price doubles in two days

2.Popular Projects

The most popular projects this week (12.04-12.08) are:

ORDI (Token): ORDI has experienced sharp rises and falls in the past 24 hours. The price first fell almost straight from $63.26 to $43.59, then rose to a record high of $68.37, and is currently back around $55. The main reason comes from Bitcoin Core developer Luke saying on social media that Bitcoin Inscription is using a vulnerability in the Bitcoin Core client to send spam information to the blockchain. If the vulnerability is fixed, it means that Ordinals and BRC-20 will no longer exist. ; There was a lot of opposition and criticism from the community about his statement, and then Luke surrendered to the community, saying that it is not necessary to eradicate all inscriptions to provide value to Bitcoin.

MUBI (Token): MUBI is the native protocol token of the BRC 20-ERC 20 cross-chain bridge project Multibit. With the popularity of the BRC 20 ecology, the corresponding hype has also expanded to Ethereum. Multibit allows users to convert BRC 20 from Bitcoin The currency network cross-chains to the Ethereum network to enjoy the corresponding Defi ecology, because this unique function has been sought after and hyped by market funds. With the BRC 20 track market, MUBIs market value has hit new highs, currently reaching US$87.7 million.

JTO (Token): Solana ecological liquidity staking protocol Jito launched the governance token JTO, 10% of the tokens were used for airdrops, 15% of which were allocated to Jito-Solana validators, 5% were allocated to Jito MEV searchers, and 80% were allocated For JitoSOL users (holding 100 points or more). In this airdrop, none of the core contributors participated in this airdrop, which means that community users benefit the most. JTO was listed on many exchanges after the airdrop, with a current trading volume of US$900 million and a market value of US$320 million.

LINK (Token): Oracle service Chainlink announced that after the Early Access of Chainlink Staking v 0.2 was opened, the staking amount exceeded 19 million LINK in 7 hours. The current community pool has been filled, and community users (including V 0.1 migrating users and new staking users) have invested a total of 40,875,000 LINK to help protect the Chainlink network and verify the network. According to data previously disclosed by Chainlink, the pledge pool limit of v 0.2 will be expanded to 45 million LINK, accounting for 8% of the current circulation.

Pudgy Penguins (NFT): Rumors of Pudgy Penguins’ imminent token issuance spread on social media, and the NFT floor price rose sharply. Subsequently, Beau, the head of community security of the project side, clarified the rumor that “the project is about to launch tokens” and said that it will not be launched in the short term. There will be tokens.

GasHeroBadge (NFT): Gas Hero is a Web3 social and strategy game developed by the former StepN team. Unlike traditional games, Gas Hero places a strong emphasis on game theory, providing players with richer strategies, and utilizes a decentralized trading platform to maximize the transparency of on-chain data. The game has just been launched, and NFT transactions in the game are quite popular.

Smart Cats (NFT): SmartLayer-related NFT currently has 800,000+ holders. Smart Cats can be fed, cleaned and other operations to upgrade the NFT. Because users anticipate SmartLayer’s future airdrops, the transaction volume of this NFT is very high.

LayerZero (Dapp): LayerZero Labs tweeted that LayerZero has always had the ability to use native tokens in the protocol. Having heard community discussions about this over the past few months, it is now clearly stated that the LayerZero token will be launched, expected to happen in the first half of 2024.

xPet (Dapp): A socialfi project on the Arbitrum chain. The gameplay is similar to Fren Pet. It requires players to feed and accompany their pets and ensure their survival, thereby helping players earn token rewards. The difference from Fren Pet is that xPET uses browser plug-ins to play games instead of home screen games like Fren Pet, which means xPET has more possibilities for strong interaction with Twitter.

Port 3 aggregator (Dapp): Port 3 is a social data oracle project incubated by Binance Labs. Its main features include creating a decentralized social data oracle based on data aggregation and providing open data layer services for various Web3 identity and asset applications. , and introduces an incentive layer to empower contributors and ultimately realize user data ownership; Port 3’s social data oracle aims to solve three core issues such as data organization and connection, data rights attribution to users, and protection of user privacy.

3. Hot Searches

The most popular topics this week (12.04-12.08) are:

SOL (Token): Solana network TVL rose to 772 million U.S. dollars. TVL of multiple Solana ecological protocols increased significantly. Ecological tokens saw a general rise, including the newly launched JTO that surged nearly 90% within the day. SOL rose by 19% in the past 24 hours. % wait. As the core ecological projects PYTH, JTO, and JUP are gradually airdropped, the Solana ecosystem has been reactivated and the market has become more popular.

ETH (Token): Ethereum core developer timbeiko.eth posted a post on the social platform summarizing the 176th ACDE meeting, aiming to activate Dencun in January, and is expected to set the Goerli fork date early next year. Stimulated by the news, the ETH/BTC exchange rate It rebounded strongly, rising by 8%, changing its weak rise compared with BTC in the past.

Helium (Token): The market is recovering, market trading volume has increased, and the market wealth effect is good. Helium announced yesterday that Helium’s mobile phone business has developed a $20/month mobile phone package business, and the revenue of future projects may improve. The open interest volume of contracts on the secondary market surged 4 times yesterday, with funds entering the market, causing the token price to rise rapidly. According to Bitget quotes, HNT rose 62% in 24 hours, attracting high market attention;

Bitget Research Institute focuses on focusing on on-chain data and mining value assets. Through real-time monitoring of on-chain data and regional hot searches, it explores cutting-edge value investments and provides institutional-level insights for crypto world enthusiasts. So far, it has provided Bitget global users with early value assets in many popular sectors such as [Arbitrum Ecosystem], [AI Ecosystem], [SHIB Ecosystem], etc., and created better wealth for Bitget global users through in-depth data-driven research. effect.

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