Bitget Research Institute: The Federal Reserve maintains its expectation of three rate cuts this year, and the crypto market rebounds across the board
In the past 24 hours, many new popular currencies and topics have emerged in the market, and it is very likely that they are the next opportunity to make wealth.
The sectors with strong wealth creation effects are: public chain sector and RWA track;
The most popular tokens and topics searched by users are: Polyhedra Network, BaseTools, RWA Track, Bearchain;
Potential airdrop opportunities include: GRVT, BWB;
Data statistics time: 4:00 on March 21, 2024 (UTC+ 0)
1. Market environment
The Federal Reserve held its 2024 FOMC meeting early this morning. According to the interest rate dot plot released at this meeting, most Fed members believe that interest rates will be cut three times in 2024. After this information was released, it was generally regarded as a dovish signal. Subsequently, the cryptocurrency market rebounded strongly, with BTC rebounding by about 8.3% and ETH rebounding by about 9.8%.
In terms of BTC ETF, todays statistics show that BTC ETF overall still shows a net outflow, with a net outflow of approximately US$260 million, a net outflow for three consecutive days. At present, the price of BTC has recovered about 17.7% from the highest point of 73,000, the largest decline. This time, BTC rebounded after the Federal Reserve issued a dovish signal. If the BTC ETF can reverse net outflows into net inflows in the future and continue to do so, it may start a new round of gains before the halving.
2. Wealth creation sector
1) Sector changes: Public chain sector (BTC, ETH, SOL)
The main reason: Early this morning, the Federal Reserve announced that it is expected to cut interest rates three times in 24 years, dispelling some of the markets concerns and providing short-term relief for funding. BTC, ETH, and SOL are the three largest public chains in the crypto industry. As traditional finance increasingly penetrates into the crypto industry, their performance is also affected by macroeconomic policies. This time the dovish signal from the Federal Reserve has caused a collective rebound in the large public chain capital sectors, but whether the market can reverse depends on factors affecting the market outlook.
Rise: BTC rose by approximately 8.2% in 24 hours, ETH rose by approximately 11.5% in 24 hours, and SOL rose by approximately 13.2% in 24 hours;
Factors affecting the market outlook:
BTC ETF capital inflow situation: Currently, the BTC ETF has shown net outflows for three consecutive days, and the BTC market has also recovered from the highest point of 73,000 by about 17.7%. If the BTC ETF capital inflow situation can be improved and maintained after the Fed boots today, then BTC may complete a market reversal before the halving and embark on a strong trend that continues to hit new highs.
Whether the ETH ETF can pass smoothly: Whether the ETH ETF can pass smoothly in May has become the biggest factor affecting the future trend of ETH. Similarly, the market will continue to speculate around the news that affects the passage of the ETH ETF. For example, the SEC will cooperate with the issue of whether ETH is a security. The price fluctuations of ETH may increase due to these news. Investors should always pay attention to the impact of the news and appropriately control risk exposure.
Can the Solana ecosystem continue to maintain its boom: The explosion of the Solana ecosystem has directly boosted user demand for SOL, thereby driving up the price of SOL. However, the myth of rapid wealth is also accompanied by rapid profit-taking. The market outlook factors that affect the price of SOL mainly depend on whether the Solana ecosystem can use this ecological explosion to keep more funds in the Solana ecosystem. Investors should pay attention to changes in the overall TVL of the Solana ecosystem and whether the ecosystem can continue to explode innovative applications.
2) Sector changes: RWA track leader (ONDO, CFG)
The main reason: BlackRock recently submitted documents to the U.S. Securities and Exchange Commission and plans to cooperate with Securitize, a U.S. asset tokenization company, to launch the BlackRock USD Institutional Digital Liquidity Fund (BlackRock USD Institutional Digital Liquidity Fund), which marks the launch of the BlackRock USD Institutional Digital Liquidity Fund. The first asset tokenization fund is about to be launched, heading into the realm of real-world asset tokenization.
Rise: ONDO rose approximately 46% in 24 hours;
Factors affecting the market outlook:
Ondo cooperates with BlackRock to continuously update RWA products: Ondo Finance has tokenized BlackRock’s short-term U.S. Treasury Bond ETF: iShares Short Treasury Bond ETF (NASDAQ: SHV), giving birth to OUSG (U.S. Treasury Bond ) product, and this is also the main contribution product of TVL in Ondo Finance. The current price of OUSG is 105.47 USD, and the annualized rate of return is 5.17%. Subsequent investors can pay attention to more cooperation information and product announcements between Ondo and BlackRock in the RWA field, which will have a positive impact on the ONDO token.
Information impact: Ondo’s official website has published an ecosystem directory, disclosing its partners in liquidity, custody and other key areas. Among them, asset management trust companies include Morgan Stanley, BlackRock, Ankura Trust, Clear Street Among traditional financial giants including NAV Consulting, ONDO was the first to rise due to the news from BlackRock. In the future, we will continue to pay attention to the dynamics of traditional institutions. The two are closely related.
3) The following sectors need to be focused on: cross-chain protocols (AXL, RUNE)
Main reason: Currently, a common problem faced by the encryption industry is that liquidity is relatively dispersed among public chains. As the encryption industry gradually enters the mainstream public view, solving the problem of liquidity islands has also become an industry focus. Axler and RuneChain are both excellent products that provide cross-chain liquidity solutions in the encryption field and have been recognized by the market and funds under todays needs.
Specific currency list:
AXL: Axelar is similar to a universal relay chain, completing information verification and transmission on the L1 chain it builds. Currently, Axelar has released the cross-chain transfer product Satellite as a demo, which can realize the transfer of assets between multiple EVM chains. The recent strong rebound of AXL shows that there are funds building positions to pull up the price at any cost. Investors can keep their attention and build positions on dips.
RUNE: THORChain facilitates cross-chain liquidity and reduces the need for centralized exchanges and third parties within the DeFi space. It enables cross-chain exchange and revenue generation on crypto-assets such as Bitcoin and Ethereum. Due to its special nature, investors can properly allocate RUNE tokens to their own investment portfolios as leveraged BTC or ETH.
3. User hot searches
1) Popular Dapps
Polyhedra Network (ZK): The project is a Web3 infrastructure and an interoperability protocol that helps users realize cross-chain transfer of NFT and Token assets. The project has a good financing background and is supported by leading investment institutions such as Foresight Ventures, Binance Labs, and OKX Ventures. The project has been launched on Bitget LaunchPool, and users can stake BGB and USDT to enjoy returns of up to 60% over APR.
2）Twitter
BaseTools (BASE): The project is a Telegram bot project, deployed on Base. The Base chain is a Layer 2 network developed by Coinbase. Recently, the Meme deployment volume and wealth effect on the chain have begun to change, indicating that funds have begun to flow into the Base ecosystem. In the future, the Base chain is likely to have 1-2 well-known Meme coins and list them on the top Exchange. As a TG Bot, BaseTool was the first to capture a wave of traffic and has become very popular recently.
3) Google Search Region
From a global perspective:
（1）FOMC Meeting（Event）
The Federal Reserves interest rate meeting was held yesterday. After the meeting, Powells dovish speech led to the rise of the crypto market, capital market, bond market, and commodity market, showing a prosperous scene with the dollar falling and everything prospering. The key points of its meeting are: 1. Maintaining the interest rate range of 5.25% -5.5%, which is the top of the interest rate cycle; 2. Three interest rate cuts may occur this year; 3. Preventing QT from being quickly reduced if reserves are not made.
Overall, the interest rate meeting was positive for risk assets, and the crypto market experienced a violent rebound, with core assets such as BTC and ETH rising by more than 10%. Macroeconomic policies underpin crypto asset prices, and bull market expectations have not changed.
Judging from hot searches in each region:
(1) Asia is more enthusiastic about popular sectors, such as the RWA track
Hot searches in Asia generally show a high level of enthusiasm for popular projects. The RWA track broke out yesterday, with ONDO leading the entire track. The entire track is very popular, and Asian users are paying more attention. Other hotly searched RWA track projects in Asia include: MKR, MPL, CFG, you can continue to pay attention.
(2) Some items appear on hot searches in many different regions and countries.
Bearchain (Dapp) appears on hot searches in the United States, Canada and other countries. The project announced this year that it had completed an airdrop of US$69 million, with a valuation of US$1.5 billion. Participating investment institutions include leading institutions such as OKX and Polychain. The project has not issued coins yet, so you can interact in advance to obtain airdrop opportunities.
4. Potential airdrop opportunities
GRVT - decentralized trading platform with clear airdrop opportunities
GRVT (Gravity) is an institutional-grade, trustless cryptocurrency trading infrastructure. Gravity is built by technology and financial market professionals to help create a platform where traders can enjoy a fully private, regulated (KYC and AML) and self-custodial trading venue.
GRVTs financing situation is good, with a total of US$9.3 million raised. Participating investors include well-known institutions such as Delphi Digital, ABCDE Capital, and Folius Ventures. Phase 1 is in progress, and Phase 2 will be carried out later, adopting the operation method of activities + transactions to obtain point rewards.
Specific participation methods: (1) Register a personal\enterprise account; (2) Complete project tasks such as following the project party’s twitter on the website; (3) Open BOX to obtain platform NFT and obtain airdrop opportunities.
BWB - Bitget Wallets upcoming platform currency, with a large number of potential airdrops
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.
Bitget Wallet recently announced a token airdrop plan: airdropping platform currency BWB points to wallet users such as MetaMask and Phantom.
Specific participation method: Addresses that have interacted on the chain before can go to the following link to confirm whether there is a quota: https://web3.bitget.com/en/bwb-airdrop?open_in_browser=true
Original link:https://foresightnews.pro/article/detail/56175
[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.
