Bitget Research Weekly News: ARK applies for Ethereum spot ETF, Bot's new star project Banana Gun will soon launch its own currency.
In the past week (09.04-09.08), the market has seen a number of new hot coins and topics.
1. Market Trends
The key focus topics in the market this week (09.04-09.08) are:
The market slightly rebounded, and the U.S. CFTC reached a settlement agreement regarding previous accusations against DeFi projects like Opyn.
ARK submitted an application for an Ethereum spot ETF, maintaining low volatility in the market.
Connext's airdrop claim restarted, and Base resumed block production after a brief pause.
With a lack of market hotspots, the upcoming project Banana Gun in the BOT race is set to launch its token.
The market decline found support as the Cyber short squeeze ended, causing a sharp drop in prices.
2. Popular Projects
The most popular projects in the past week (09.04-09.08) were:
YAMA (Token): A meme project that gained significant traction with 3,729 daily interactions, an increase from zero to 1,980 holders, a 24-hour trading volume of 2.87 million USD, and 7,210 transactions. It is listed for trading on Bitget.
PRIME (Token): Parallel is a sci-fi trading card game (TCG) that uses NFTs to allow players to own their cards and other in-game assets. The project, backed by the Paradigm investment team and experienced game studios, received positive support as Google engineers announced an update to their advertising policy on September 15, allowing the promotion of NFT games.
DORKL (Token): Pepe creator @Matt_Furie changed his profile picture to a black hat pepe on September 6th. The name of this PEPE avatar is DORK LORD, the concept of PEPE Father. The related tweet has a search volume of up to 270,000, and many KOLs have retweeted it. The $DORKL token was created 20 minutes after the tweet was posted. Currently, the on-chain liquidity of this token is $315,000, and the trading volume in the past 24 hours reached $20,450,000. The contract has potential issues with transaction taxes, transaction cooldowns, and whitelist/blacklist settings. The contract permissions have been abandoned, and Bitget has listed it for trading;
PERP (Token): Perpetual Protocol received a bullish rating from Investor Observer, a cryptocurrency research institution, yesterday. This rating has a traffic effect and ranks first when searching for this project on Google. Binance has opened contract trading pairs, but the liquidity is poor. The recent increase in the token's value caused short positions worth $1,390,000 to be liquidated within 12 hours, resulting in a short squeeze. The token has already increased by over 100% from the low;
Tether (Token): Tether's Chief Technology Officer, Paolo Ardoino, stated on social media that Tether currently holds $72.5 billion worth of U.S. treasury bonds, surpassing countries such as the United Arab Emirates, Mexico, Australia, and Spain, making Tether the 22nd largest holder globally;
Avive Profile NFT (NFT): The aim of the Avive World project is to create a metaverse social network. Holding this profile NFT entitles you to receive VV tokens through airdrops. They have just completed the NFT Free Mint Event, and there are currently 86,000 wallet addresses holding the token on-chain. They have 709.7K followers on Twitter;
Banana Gun (Dapp): The project is a TG Bot that helps users trade on DEX. It has two core features: "Sniper" (to snipe newly launched memes) and "Quick Trade" function. Both features provide investor protection such as "anti-rug" and "MEV protection" with fees of 0.85% and 0.5%. The roadmap includes the launch of automated profit-taking, telegram hot spot crawler, multi-chain support, and Copytrading as additional features. The project will issue tokens and conduct a public sale this weekend with a cap of 800 ETH, FDV of 6.6 million USD, and initial circulating market value of 1.56 million USD, mainly held by public sale participants and airdrop recipients;
Coinbase (Dapp): According to Nansen data, Coinbase has seen a net outflow of assets totaling over 1.05 billion USD in the past 7 days, with Coinbase Custody, its custody institution, experiencing a net outflow of 757 million USD. Market liquidity continues to decline;
Aerodrome (Dapp): ve(3, 3) Dex on Base L2, developed and launched in collaboration between Velodrome and Base teams. 40% of initial circulating supply of veAERO will be airdropped to veVELO users and locked for 4 years. Since its launch yesterday, the TVL has been growing rapidly, with projects like SNX and Beefy becoming initial partners. The current TVL has reached 190 million USD, indicating high popularity.
3. Hot Searches
The most popular topics this week (09.04-09.08) are:
BTC, ETH (Token) - The market remains stable, with BTC and ETH prices oscillating around $26,000 and $1625, respectively; the implied volatility is still oscillating between 30% and 35%, with the implied volatility of options expiring in 9 months rising to 47.5% and 43.4%. Yesterday, ARK Fund applied for an ETH spot ETF, causing a short-term surge followed by a correction in ETH.
Base (Dapp) - (1) Base experienced a block stoppage failure, and the network has now recovered and returned to normal; (2) Native USDC is now available on the Base network locally, and Circle accounts and Circle API fully support Base USDC. Native USDC is issued by Circle and can always be exchanged 1:1 for US dollars;
GALA (Token) - Recent positive and negative events occurred simultaneously, attracting market attention: (1) Gala Games announced that the Gala platform will fully migrate to GalaChain by the end of the year; (2) Two founders of Gala Games filed lawsuits against each other, resulting in internal conflicts within the company;
Bitget Research Institute focuses on "focusing on on-chain data, mining valuable assets," and provides institutional-level insights for cryptocurrency enthusiasts by monitoring on-chain data and regional hot searches to explore cutting-edge value investments. So far, it has provided early-stage valuable assets in popular sectors such as Arbitrum ecosystem, AI ecosystem, and SHIB ecosystem to Bitget global users through data-driven in-depth research, creating better wealth effects for Bitget global users.
[Disclaimer] There are risks in the market, and investment should be cautious. 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. Users assume full responsibility for their investment decisions.
