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Bitget Research Institute: US PPI data caused the market to dive, BOME led the Solana Meme wealth creation effect
Bitget研究院
特邀专栏作者
2024-03-15 10:00
This article is about 3346 words, reading the full article takes about 5 minutes
Focus on on-chain data and review daily news.

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 U.S. Producer Price Index (PPI) rose 0.6% month-on-month in February, higher than economists expectations of 0.3%. Bitcoin plunged more than 6% after the economic data was released. Solanas ecological Meme token BOME has experienced outstanding growth, with a 24-hour transaction volume of US$258 million.

  • The sectors with strong wealth creation effects are: Solana Meme, Aptos ecological sector;

  • The most popular tokens and topics searched by users are: Berachain and Meme sector tokens such as PENG, PEPE, DOGE, and SHIB;

  • Potential airdrop opportunities include: CharacterX, Owlto Finance;

Data statistics time: 4:00 on March 15, 2024 (UTC+ 0)

1. Market environment (key points that determine the trend)

The U.S. producer price index (PPI) rose 0.6% month-on-month in February, higher than economists expectations of 0.3%. Sticky inflation seemed to dampen investors hopes for an imminent interest rate cut, and major U.S. stock indexes fell. Bitcoin, which was trading near $73,800 on Thursday morning, plunged more than 6% following the economic data and briefly fell below $67,000 on Friday morning.

Meme token trading on the Solana chain is booming. According to DeFiLlama data, in the past 24 hours, the transaction volume of DEX on the Solana chain exceeded US$2.57 billion, surpassing the US$2.31 billion transaction volume of DEX on the Ethereum chain. The BOOK OF MEME (BOME) issued by Pepe Meme artist Darkfarm has a 24-hour transaction volume of US$258 million. The meme tokens Myro, WIF, SILLY, PENG, BOME and other golden dogs on the Solana chain appear frequently. In addition to BOME, Bitget is online. , it is recommended to focus on related sector tokens.

2. Wealth creation sector

1) Sector changes: Solana Meme (BOME, PENG, WIF)

main reason:

  • BOOK OF MEME (BOME) released by Pepe Meme artist Darkfarm has swept all social platforms, and after its launch, the 24-hour transaction volume on the chain exceeded 250 million US dollars;

  • Binance announced that its web3 wallet has completed the integration of the Solana network. At the same time, Solanas SOL surge continued despite the decline in the broader market, rising 11.07%, driving the entire sector to rise;

  • The well-known MEME coin WIF community on Solana jointly raised US$670,000 for advertising in the new landmark MSG Sphere (giant spherical LED venue) in Las Vegas, USA. Affected by the news, WIF rose 30.6% in a single day.

Rise: BOME rose 6812%, PENG rose 120.13%, WIF rose 16.15%;

Factors affecting the market outlook:

  • Solana ecological TVL and capital inflows: Solana ecological TVL currently exceeds US$3.8 billion, an increase of more than 100% in the past month. Currently, it is second only to ETH, TRON and BSC. If funds continue to flow in, the overall ecological currency price will rise further. At the same time, various exchanges have significantly accelerated the launch of Solana tokens. The inflow of secondary market funds from exchanges will also indirectly affect the TVL situation of Solana ecology.

  • BOMEs subsequent rise and currency listing on exchanges: Currently, exchanges such as OKX and Binance are not yet online, and the ceiling for Solana ecological Meme tokens has been opened by WIF, reaching 3 billion. If KOLs who are influential enough in the future continue to call for orders and exchanges such as Binance continue to list coins, the popularity of the Meme sector will also continue.

2) Sector changes: Aptos Ecology (APT, DOODOO, THL)

main reason:

  • On-chain data improvement: TVL on the Aptos chain has increased threefold since the beginning of 2024, with the number of daily interactions increasing by 65% ​​and the number of active users increasing by 93%.

  • Activities increase demand for tokens: DOODOO is about to launch an NFT Mint activity. Users holding more than 69 DOODOO tokens can mint NFT for free, and investors will buy it to increase the price;

  • Project valuation repair: Thala is the defi that ranks first in TVL on Aptos (accounting for 51%). It mainly includes stablecoin MOD and amm swap (copycats of balancer and curve, including launch platforms). Its market value has always been underestimated (only 19 million USD), as the TVL and transaction volume on the Aptos chain increased, the Thala currency price also benefited.

Rise: APT rose 3.81%, DOODOO rose 12.39%, THL rose 6.61%;

Factors affecting the market outlook:

  • Aptos support for the ecosystem: The public chain foundation will support ecological projects through investment and token incentives, so the foundation plays a vital role in the development of the ecosystem. If Aptos continues to invest in ecological projects or incentivize ecological project users in the form of APT, then the Aptos ecosystem will continue to receive an influx of funds.

  • The impact of news events on the Aptos ecosystem: News events will also have a positive impact on token prices in the short term. For example, Jambo announced that it will cooperate with the Aptos Foundation to sell the Jamble phone, priced at $99. The Solana saga mobile phone has become a recognized golden shovel because the airdrop value it brings has far exceeded the price of the mobile phone itself. The second generation of Solana Mobile relies on this expected hype and only writes the words without even making a PPT. A picture of a few letters sold more than 60,000 units in three weeks, and related news also positively affected the currency price of APT. In the future, after the APT ecological project airdrops Jamble phone and generates wealth effects, the Aptos ecosystem will also benefit.

3) The following sectors need to be focused on: AI sector (NEAR, MAP, PAR)

The main reason: the impact of news such as the update of GPT 4.5 - there is news that OpenAI is testing the latest model GPT 4.5 turbo in grayscale, and the news of the recent Nvidia gtc 24 conference continues to ferment, resulting in the AI ​​sector recurring large gains in coins kind.

Specific currency list:

  • AI leader transformation, funds chase new leading concept: The AI ​​concept leader is converted from TAO to NEAR. In addition to the impact of news related to the recent NVIDIA gtc 24 conference, NEARs own project has matured, has many partners, and has greater support from investment institutions. , causing more funds to concentrate on pushing up the price of NEAR;

  • Major content update: The sci-fi themed NFT card game Parallel will launch a new artificial intelligence game colony on Solana. The artificial intelligence agent (AI agent) in the game will be able to conduct transactions autonomously on the chain. This move brings parallel’s products to a new stage. Updates will directly benefit the subsequent performance of its tokens;

  • The sector is expanded and the project adds AI concepts: MAP Protocol announced that it has joined the NVIDIA developer program, aiming to accelerate the development of Bitcoin interoperability technology driven by AI technology.

3. User hot searches

1) Popular Dapps

Berachain (not issued yet):

Berachain is a Layer 1 blockchain built on the Cosmos SDK, compatible with EVM, and protected by the Proof of Liquidity consensus mechanism. The Layer 1 public chain recently received over US$69 million in financing co-led by Brevan Howard Digital and Framework Ventures. It raised funds through the sale of digital tokens, valuing it at $1.5 billion. Previously, in April 2023, Berachain also received US$42 million in financing from Polychain Capital and OKX Ventures, with outstanding institutional endorsement. Berachain has three main tokens and the economic model is cyclical. Benefiting from the strong community cultural consensus, Berachain, which is in the Artio testnet stage, is also extremely popular and will be launched on the mainnet in the second quarter. Before that, users can complete tasks to participate in the testnet and ecological interaction.

2)Twitter

Magic Eden (no currency has been issued yet, this diamond airdrop has brought strong expectations for currency issuance):

MagicEden is a cross-chain NFT trading market founded in San Francisco, USA in 2021. The founder is Mr. @0x LeoInRio, a former Google executive and now one of the top 10 richest people in Australia. Magic Eden has started the Diamond airdrop. For original users of Ethereum, starting the journey from Magic Eden can be traced back to 2017 based on the active time, and you can receive Diamonds by connecting to your wallet. The number of diamonds a user is eligible to receive is based on several factors, including when and where the transaction was made, as well as additional weighting for royalties. This is undoubtedly a great benefit to the original users of Ethereum. Some diamond rewards will be issued immediately, and more can be earned through tasks. This move has attracted high attention and discussion in the community.

3) Google Search Region

From a global perspective:

(1)zkLend(ZEND):

zkLend is a pioneering decentralized money market protocol native to Starknet. It is currently one of TVLs largest lending projects on Starknet, with more than $50 million in deposits in core tokens and STRK. It was simultaneously launched on ByBit and KuCoin on March 14 (ie ZEND token). This is also the first Starknet native DeFi protocol token listed on CEX. At the same time, the first batch of airdrops will be launched, and 3,890,250 ZEND tokens (approximately 4% of the total token supply) will be distributed to 42,695 early supporters. ZEND will be a utility and governance token and provide a new milestone in activating and engaging users through partnerships and liquidity programs to continue to solidify its position as one of the major money market protocols on Starknet.

Judging from hot searches in each region:

(1) Asia shows high enthusiasm for PENG, PEPE, DOGE, and SHIB in the MEME sector:

The explosive power of MEME in the Solana ecosystem is generally strong, mainly due to the low transaction fees of the Solana ecosystem. The leading MEME WIF has entered the top 50 in market value. The market value of other new generation MEME such as PENG has exceeded 100 million US dollars, and there are good transactions. volume, it is expected to enter the second echelon of the SOL ecological MEME sector. At the same time, PEPE, SHIB, and DOGE are affected by Musks tweets and orders, and are very easy to get out of the circle, and are subject to the financial consensus of retail investors.

(2) The European and English regions pay more attention to the ZRX token:

0x Protocol (token ZRX) is a DeFi transaction aggregation product. The activity on the chain is at the Top level but the market value is underestimated. This round of token rise is due to the market’s repair of its value. At the same time, the 0x team attended ETH Denver to share how the transaction aggregator affects In the DeFi field, investors are generally optimistic in the bull market atmosphere. Since the ETH Denver event, the token has experienced a weekly increase of 139.1%, and the hot searches in each region during the week are among the top 10 most popular searches.

4. Potential airdrop opportunities

CharacterX

CharacterX builds a decentralized AI entertainment social network and becomes a social portal for Web3, allowing creators to create AI characters and choose AI characters to interact with them based on their own preferences. Currently, CharacterX is conducting a points airdrop activity to feed back the value of the community to the community. Users can earn points in three ways.

In January 2024, CharacterX announced the completion of a new round of financing of US$2.3 million at a valuation of US$30 million. Lightspeed, INCE Capital and Spark Digital Capital co-led the investment, which has a relatively good background.

The specific participation method is: obtain CXT points in the CharacterX APP. Through the badge system, users are encouraged to obtain three types of badges by exploring the App functions. At the same time, users can obtain CXT points by completing tasks in the CharacterX community and inviting new people to join.

Owlto Finance

Owlto Finance is a decentralized Cross-Rollup cross-chain bridge focusing on Layer 2. Currently, it supports users to cross-chain between more than 15 L2s such as Ethereum mainnet, zkSync Era, and Starknet.

Since its launch, Owlto Finance has successively entered the official ecology of zkSync, Starknet, Arbitrum, Optimism, Linea, Base, Polygon, BNB Chain, Mantle, Scroll, Taiko, Manta, Kroma, etc., and has been especially recommended by the official Twitter and forwarding, and has a very close official relationship with each layer 2. The project currently has a points system. In addition to earning Owlto airdrops, you can also accumulate the number of transactions of other unissued currency layer 2.

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.

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