Weekly News from Bitget Research Institute: Inscription tokens have surged, and Bonk’s market value has reached a new high
In the past week (12.11-12.15), many new popular currencies and topics have appeared in the market.
1.Market Trends
This week (12.11-12.15) the most focused topics in the market are:
Bonk’s market value breaks new high, SOLS rises over 500% in 24 hours
Inscription tokens surge, the Federal Reserve is expected to cut interest rates in March next year
Bitcoin briefly fell below 41,000 as the market awaited the FOMC interest rate decision
Avalanche succeeds Solana, both volume and price rise, TIA currency price breaks new high
The market is experiencing a correction, and Ethereum Layer 2 TVL breaks through a new high of $16 billion
2.Popular Projects
The most popular projects this week (12.11-12.15) are:
RATS (Token): Benefiting from the listing of SATS on Binance, the BRC 20 Inscription Track has seen a sharp rise. The price of RATS has increased more than 3 times in the past three days, with a 24-hour trading volume of 97 million US dollars and a market value of 250 million US dollars.
OZK (Token): OrdiZK, a new BRC 20 cross-chain protocol developed using zk-SNARKS technology, links BTC and ETH. After the token is deployed, it continues to rise in the secondary market, with a market value of US$5 million and a 24-hour trading volume of 1.85 million. US dollars, sales tax 5%.
BONK (Token): The Solana version of BONK is listed on Coinbase. The total market value has reached 890 million US dollars, ranking 75th in the cryptocurrency market value. The 24-hour trading volume is 2.5 billion US dollars, an increase of 45%. It is very popular. Its ERC 20 version represents Coins remain active on the chain.
BABYGROK (Token): The meme token of the GROK concept is very popular on BSC. There are 52,000 currency holding addresses on the chain, with a market value of 48.74 million US dollars and a 24-hour trading volume of 2.3 million US dollars. It has increased by 55% in the past 24 hours. Bitget is online.
Ethrunes (NFT): Ethereum’s suddenly popular ERC 1155 Ether Inscription protocol. Judging from on-chain data, the frequency of participation in Mint is very high. When Mint came out, NFTs in 1155 format were displayed in NFT trading markets such as Opensea. There was no transaction data in the secondary market. It was mainly the first level of innovation, so you can continue to pay attention.
Pudgy Penguins (NFT): NFT project Pudgy Penguins announced that it will launch Pudgy World Alpha in the first quarter of 2024, powered by zkSync. Pudgy World is a digital experience that closes the loop on its physical products, allowing Pudgy Toy holders to scan the accompanying QR code, create an account, redeem features and customize their Forever Pudgy Penguin. An important part of the Pudgy World Alpha release is the introduction of new characters Pudgy Peaches.
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.
ETHRUNES (Dapp): A new token protocol based on ERC 1155 and inspired by BRC 20, the head rune $ERS on the platform https://ethrunes.xyz/ has been fully mint completed and can be traded on the open market. The protocol can create Tokens, NFTs, and convert $eths, $ethi, BTC inscriptions $ordi, $sats, and ERC 20 tokens into runes. It is an early-stage risk project, so please stay tuned.
Inscription (Dapp): The inscription track is hot. Polygon has produced more than 900 kinds of inscriptions. The number of transactions accounts for 66% of the transactions on the chain, occupying the gas consumption list.
3. Hot Searches
The most popular topics this week (12.11-12.15) are:
Bitcoin (Token): Yesterday’s Federal Reserve interest rate meeting showed a dovish speech. The market expects the Federal Reserve to start cutting interest rates as early as March next year. The 10-year Treasury bond yield fell below 4%, and the U.S. dollar index fell below the 103 integer mark. Risk asset returns represented by BTC have shown a rising trend after the Federal Reserve interest rate meeting, and have risen by about 5% in the past 24 hours.
SATS (BRC-20 Token): Binance announced the listing of SATS. SATS surged and doubled, and the currency price fluctuated violently. It also drove the trading volume of BRC 20 tokens such as ORDI and RATS, and the currency prices fluctuated violently.
IMX (Token): IMX has been very popular recently, and whale users are active. According to Nansen 2 data, Smart Money is on the Ethereum network fund inflow tracking list for 24 hours. IMX is about 2.99 million US dollars. According to Lookonchain monitoring, 3 wallets (possibly belonging to the same whale) withdrew 4.3 million IMX ($9.6 million) from Binance and continued to buy on the exchange.
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], and [SHIB Ecosystem], 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.
