In the past 24 hours, many new popular currencies and topics have appeared in the market, which may be the next opportunity to make money, including:
Sectors with strong wealth-creating effects are: AI sector, DeFi assets, Solana sector
The most searched tokens and topics by users are: Ethena, BTC and ETH spot ETF, Japan Stock Market
Potential airdrop opportunities include: Zircuit Mainnet Festival, Kamino S 3
Data statistics time: August 6, 2024 4: 00 (UTC + 0)
1. Market environment
In the past 24 hours, ETH has plunged to around $2,100, and BTC has also plunged to $49,000, spreading panic in the market. After that, the crypto market rebounded and the market ushered in a phased rise. The rising market may usher in a few days of rebound opportunities, but the market is more likely to bottom out again. The main reason is that the market expects that the pressure on crypto market makers from supervision will increase in the future, and market makers may directly sell crypto assets, which will affect the price of tokens.
From a macro perspective, there are two main reasons for the decline in the crypto market:
Sentiment in the global capital market surged: the US economy was facing recessionary pressure, and the US stock market fell for three consecutive trading days. The Japanese stock market was halted for two consecutive trading days, and the VIX index of fear surged 27% in a single day.
Regulatory pressure on crypto market makers: Jump Trading, a leading market maker in the crypto market, may sell ETH due to regulatory pressure, causing the price of ETH to fall sharply.
2. Wealth-creating sector
1) Sector changes: AI sector (TAO, ARKM, RENDER)
main reason:
The AI sector has been falling and consolidating for a long time. In the environment of oversold market rebound, it was the first to attract the attention of funds;
Nvidia opened low and rebounded yesterday, and continued to rebound after the market closed, driving the overall enthusiasm for the AI sector;
Rising situation: TAO, ARKM, and RENDER rose by 29.5%, 19.5%, and 13% respectively within 24 hours;
Factors affecting the market outlook:
Nvidias subsequent trend: Nvidia is a bellwether of the AI track, affecting the markets overall valuation of the AI track. If Nvidia continues to rebound in the U.S. stock market tomorrow, the AI sector of the crypto market is expected to continue to rebound;
Impact of news: Pay attention to the product updates and partnerships recently promoted by the project party. If an AMA is held, you can consider deploying related assets in advance, because there is a high probability that good news will be released in the near future using the improved liquidity environment.
2) Sector changes: DeFi assets (AAVE, ONDO)
main reason:
AAVE had a large number of liquidations yesterday, and AAVE received $6 million in revenue. According to AAVE, profit distribution was started and AAVE was repurchased to support the coin price;
ONDO RWA is a leading project in the track. It has rebounded from oversold and has great potential for future narrative.
Rising situation: AAVE and ONDO rose by 21% and 20.7% respectively in 24 hours;
Factors affecting the market outlook:
Project revenue: After AAVE starts the token economy update, the price of AAVE will change with the project revenue in the future. When market liquidity problems arise, the protocol revenue will increase significantly in a short period of time, and the price of AAVE will be supported.
Increase or decrease in open interest: Take ONDO as an example. The open interest of ONDO has been rising since yesterday, indicating that hot money is pouring in. Through the contract data on the tv.coinglass website, we can understand the trend of the main funds. First, we should observe the increase in net long positions on the contract; then we should see whether the contract data shows a net increase in long positions, an increase in OI, and an increase in trading volume. If so, it means that the main force is continuously buying up and can continue to hold.
3) Sectors that need to be focused on in the future: SOL ecological projects (WIF, HNT, POPCAT, BILLY)
main reason:
SOL rebounded 17% in 24 hours and stabilized at the integer mark of 140 US dollars. The community has a strong desire for short-term speculation, driving the rise of ecological projects
Specific currency list:
WIF, POPCAT, BILLY: Solana ecosystem’s Meme coins. SOL tokens are rising, and generally Solana’s top MEME coins are rising faster.
HNT: The leader of the DePin track, the token is deployed on Solana, the DePin track as a whole has a rebound trend, and DePin on SOL has ushered in double positive stimulation;
3. User Hot Searches
1) Popular Dapps
Ethena
Ethenas annual revenue is in a loss state, which has caused FUD on social media. Guy Young, the founder of Ethena, said that USDe processed more than $50 million in redemptions overnight, which is the largest redemption to date, and there were no problems. The ratio of USDe collateral assets and reserves to USDe supply has always remained above 101%. The next monthly custody asset certificate was originally planned to be released at the end of the month, but in order to provide greater transparency to the community, it will be released ahead of schedule this week.
2) Twitter
BTC ETH Spot ETF:
According to Coinglass data, the trading volume of US Bitcoin spot ETFs reached $5.7 billion yesterday, the highest since March 26, of which BlackRock IBITs trading volume was $2.94 billion. Yesterday, the US Bitcoin spot ETF had a net outflow of $168.4 million, marking two consecutive trading days of net outflows. Yesterday, the US Ethereum spot ETF had a net inflow of $49 million, of which BlackRock ETHA had a net inflow of $47.1 million.
3) Google Search Region
From a global perspective:
Japan Stock Market:
Yesterday, Japans Nikkei and Topix indexes fell by more than 8%, the worst stock market decline in the country since 1987. Today, Japanese stocks rebounded violently, with the Nikkei 225 index rising by 9.7% and the Topix index rising by 10%.
From the hot searches in each region:
(1) The hot searches in Asia are very scattered. Polygon, Stellar, AAVE, and Solana appeared in the top search lists in Indonesia, the Philippines, Thailand, and Malaysia, respectively, with no universal characteristics.
(2) Hot searches in Europe, America and the English-speaking region are also relatively scattered, but AI sector tokens are relatively popular. FET appears on hot searches in Spain and the United States, OCEAN appears on hot searches in France, and AGIX appears on hot searches in Australia.
(3) In Latin America, the hot searches in Brazil are PEPE, SOL, and XLM, while in Argentina they are Kelp, AGIX, and NEAR.
Potential Airdrop Opportunities
Zircuit
Zircuit, an EVM-compatible zkRollup network, announced the ZRC token economics in its official documentation. The total supply of ZRC tokens is 10 billion, 21% of which are allocated to airdrops and community rewards (7% of which are allocated to the first quarter airdrops and 14% to future airdrops and community rewards). There are 262,200 unique addresses eligible to claim. The first quarter airdrop snapshot is on July 8, 2024.
Zircuit is invested by Binance Labs, Pantera Capital, Dragonfly, etc. Although the airdrop plan has been announced, you can still deposit assets supported by Zircuit to win future rounds of airdrops. Zircuit Mainnet Festival is online, and you can get ZRC by obtaining gas consumed on the chain.
The specific way to participate in the Zircuit Mainnet Festival is as follows: (1) Bridge ETH to the Zircuit mainnet (https://bridge.zircuit.com/); (2) Consume Gas. Any transaction executed on Zircuit will result in the use of ETH to pay for gas fees. (3) The gas and rolls spent may take one hour to appear in the account (http://festival.zircuit.com/).
Kamino
The Kamino S 2 campaign has ended, and a total of 350 million KMNO will be distributed to Kamino users in mid-August. The relevant rewards will be fully unlocked and automatically staked when collected. Users can unstake without a cool-down period, and the allocation check URL is app.kamino.finance.
Kaminos TVL has just surpassed Marinade, becoming the second-ranked DeFi protocol and the first-ranked Lending protocol in the Solana ecosystem. Users can deposit their SOL, JitoSOL and other LST, USDC, USDT and other tokens supported by Kamino to obtain a certain APY and Kamino points.
Original link: https://www.bitget.fit/zh-CN/research/articles/12560603813886
【Disclaimer】The market is risky, so be cautious when investing. 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 circumstances. Investing based on this information is at your own risk.
