Bitget Research Institute: US CPI exceeded expectations, suppressing short-term market sentiment, TON surged and early opportunities emerged in the ecosystem

In the past 24 hours, many new popular currencies and topics have emerged in the market. Perhaps they are the next opportunity to make wealth.

The overall and core CPI of the United States in February both exceeded expectations, which to some extent suppressed the probability of an interest rate cut in June. Large-amount financing for first-level projects has increased, and second-level public chain projects have generally strengthened, including:

• The sectors with strong wealth creation effects are: L1 public chain sector and Polkadot ecology;

• The most popular tokens and topics searched by users are: Blast Bridge, Polyhedra, Nibiru, AMP, AEVO;

• Potential airdrop opportunities include: Bitget Wallet (BWB), Goplus;

The market experienced a brief correction after the US CPI, with gold, US stocks, and crypto markets all falling first and then rising, indicating that the market has certain expectations for the recurrence of the inflation process. Bitcoin is currently oscillating at a high level after exceeding $69,000. The market maintains high liquidity and funds will begin to rotate into new sectors. You can pay attention to the leading public chains and their ecology.

Data statistics time: 4:00 on March 13, 2024 (UTC+ 0)

1. Market environment

Both the overall and core CPI of the United States in February exceeded expectations. Gold, US stocks, and crypto markets all fell first and then rose, indicating that the market has certain expectations for the recurrence of the inflation process. The price of BTC is currently stable above US$69,000. The crypto market will maintain high liquidity, which will facilitate the rotation of funds. At the same time, large-scale financings ranging from tens of millions of US dollars to up to 200 million US dollars have appeared in the primary market, which will also boost the market. Valuation of old projects in the secondary market.

Some old altcoins that are still in the low and volatile range have received financial attention and have experienced breakthroughs, and public chain sectors such as TON, NEAR, etc. and ecological projects have experienced sharp increases, indicating that the market capital rotation and long sentiment has increased.

2. Wealth creation sector

1) Sector changes: L1 public chain (TON, NEAR)

The main reasons: 1. New developments related to public chains, TON-related Telegram is considering going public, and the founder of NEAR spoke at the NVIDIA conference; 2. The overall growth rate of this bull market is not high, and breakthroughs were achieved after accumulation in the range;

Rise: TON rose 22%, NEAR rose 10%;

Factors affecting the market outlook:

• Ecological TVL and whether prices begin to grow: Mainly observe DeFi projects such as core DEX and lending. If ecological development is sustainable, it will have good support for public chain tokens to maintain price increases or fluctuate at high levels in the future;

• Whether public chain news is brewing further: For example, if TON and Telegram integrate information and actions more deeply, Near obtains more AI-related resources, etc., it will further promote the rise of tokens. If there is less news, the bullish sentiment will decrease. Pull back and fluctuate within a certain range.

2) Sector changes: Polkadot ecology (ACA, MOVR, CLV)

Main reasons: 1. The Polkadot Developer Conference is being held in Bangkok on March 12; 2. Polkadot 2.0 is preparing to cancel the card slot auction to make it easier for more projects to join the Polkadot ecosystem. In addition, it is expected that Polkadot will undergo a mainnet upgrade in Q2;

Rise: DOTs growth rate is average for the time being, with a slight increase of only 2.5%. Ecological core projects ACA, MOVR, CLV, etc. all have an increase of more than 15%;

Factors affecting the market outlook:

• At the ongoing Polkadot Developer Conference on March 12, new product updates and ecological policy strength were revealed, which will affect the rising sentiment of ecological projects. Currently, DOT projects have generally just broken through the bottom range of the bear market. If the subsequent trend is formed, it will continue to rise. The space will be larger;

• It is necessary to observe whether Polkadots leading projects DOT and KSM will start to rise sharply. If they rise sharply, it will drive the rise of other projects in the ecosystem.

3) The sector that needs to be focused on in the future: LSD sector

The main reason: After the ETH Cancun upgrade, L2 will benefit the most. As L2 becomes more active in the future, the overall Ethereum ecosystem will benefit together. The LSD sector is in a volatile range and has the potential for further breakthroughs;

Specific currency list:

• LDO: LSD ecological leader, ETH pledged TVL accounts for 80%, priority to benefit;

• SSV: LSD’s leading distributed verification node further promotes the decentralization of ETH’s verification nodes. It is a core infrastructure and has the potential to become the main target of capital inflows in the sector;

• PENDLE: The leading target of LSDFi, a segment under LSD, has strong financial consensus.

3. User hot searches

1) Popular Dapps

Blast Bridge :

Blast Bridge is the official cross-chain bridge of Blast. Blast has announced that Blast’s USDB yield has increased following MakerDAO’s recent yield update. Now, USDB holders can enjoy 15% annualized yield plus Blast Points. The increase in on-chain income stimulates users to transfer stablecoin assets to the Blast chain through Blast Bridge. Blast users can obtain USDB by bridging stablecoins (USDC, USDT, DAI) to Blast, or by exchanging ETH or other assets for USDB on the Blast Mainnet.

2）Twitter

Polyhedra（ZK）：

Polyhedra Network is a ZK interoperability infrastructure, and the zkBridge developed by it has become one of the largest cross-chain infrastructures in the multi-chain ecosystem. Yesterday OKX Jumpstart launched a new project ZK (Polyhedra Network). At the same time, Polyhedra Network has completed the snapshot at 16:00 on March 12, zkBridge trading users, Pandra King NFT holders, zkBridge loyalty point users on Galxe, and participants in the Binance Web3 wallet airdrop, OKX Cryptopedia Season 11, and BNB Chain airdrop marathon Active users are eligible to receive ZK token airdrops.

Polyhedra has completed US$25 million in financing and is valued at US$1 billion. The value of the airdrop may be considerable. However, since LayerZeros FDV of 3 billion is quite close, the upward space may be limited, and users can appropriately sell the tokens obtained from the airdrop.

3) Google Search Region

From a global perspective:

（1）Nibiru（NIBI）

Yesterday, the Layer 1 blockchain Nibiru Chain announced that it has been launched on the mainnet. Nibiru is a Layer 1 blockchain and financial hub that unifies leveraged derivatives trading, spot trading, staking and bonding curve liquidity provision into a seamless user experience. In February this year, Nibiru Chain completed US$12 million in financing, with Kraken Ventures and others participating in the investment. According to its token economics, the total number of NIBI is 1.5 billion. Based on this calculation, its current FDV reaches US$1.369 billion. Its valuation has reached a relatively high level. It is recommended to be cautious when participating in this token transaction.

Judging from hot searches in each region:

(1) The main token in the English area is AMP

Flexa is a network that provides fully digital transactions, ensuring security. Unlike traditional payment methods, Flexas payment process does not involve sending sensitive customer account information, but instead pays using virtual tokens. As the native token of the Flexa network, AMP not only functions as governance and staking, but also acts as collateral for the Flexa network to pay for related cryptocurrencies. Yesterday, the Winklevoss brothers, the founders of Gemini, used Gemini Pay integrated with the Flexa network to buy coffee at Starbucks. At the same time, in the token airdrop standard of the new project Anvil, Flexa networks AMP token pledge is eligible for airdrop, resulting in a large number of users buying.

(2) Asia and Africa are paying attention to the trend of AEVO token airdrops

AEVO is a decentralized derivatives exchange that provides derivatives transactions such as perpetual contracts, options, and Pre-Launch token futures. It uses order books and margin models. The trading volume during the platform activities exceeded 120 billion US dollars. Aevo will be online and open for trading soon. After Binance’s new currency mining is launched on AEVO, trading of AEVO will begin at 18:00 on March 13, 2024 (Eastern District Time), and the income of airdrop users will be announced soon. Since the price of AEVO tokens fluctuates greatly after being listed on Binance, users who want to lock in profits in advance can sell AEVO in advance through the OTC market of Whales Market.

4. Potential airdrop opportunities

Goplus - Binance Lab investment project, high valuation, zero cost of interaction

GoPlus is a secure data platform for Web3 users. Its main function is to detect risks for token contracts and help users avoid risks such as Pixiu Coin and project rug pull. Its functions include Token detection, NFT detection, malicious address library, contract authorization detection, dApp contract security, etc. Currently, the daily call volume of the project has exceeded 15 million times.

Goplus has received investment led by Binance Labs and is valued at US$150 million. The project valuation is relatively high and the potential airdrop value is large. And the interaction is relatively simple, and the interaction does not cost gas.

Specific participation methods: A points activity has been launched. After opening the URL link wallet, scan the token contract and complete related tasks such as following Twitter and joining the community on the website.

BWB - Bitget Wallets upcoming platform currency, with a large number of potential airdrops

Bitget Wallet recently released a video on its official Twitter. The video includes the words BWB and the token style logo, indicating that there is a high probability that its platform currency will be issued soon.

Bitget Wallet is a Web3 wallet with large financing, a large number of global users (more than 19 million global users), and the top 5 comprehensive wallet downloads in the world. It is the leading project in the industrys wallet segment, so its valuation will be relatively high.

Specific participation methods: Because it is a wallet product, it is highly possible to receive airdrops by completing the following tasks: Swap transactions, NFT transactions, inscription transactions, and participation in sign-in and follow activities jointly organized with other projects in the wallet.

Original link: https://www.bitget.com/zh-CN/research/articles/12560603806545

[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.