Bitget Research Institute: BTC spot ETF has seen net inflows for three consecutive days, and market panic is being digested

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Bitget研究院
1 weeks ago
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After Powells speech, traders expect the probability of the Feds first rate cut in September to be slightly higher than 70%. BTC spot ETF has seen net inflows for three consecutive working days. The German governments move to transfer BTC did not further cause the market to fall, and the market panic is being gradually digested.

In the past 24 hours, many new popular currencies and topics have appeared in the market, and they may be the next opportunity to make money:

  • The sectors with relatively strong wealth creation effects are: Modular public chains

  • Hot search tokens and topics by users: Stargate, SSV, PEIPEI

  • Potential airdrop opportunities include: Symbiotic, Karak+Etherfi

Data statistics time: July 10, 2024 4: 00 (UTC + 0)

1. Market environment

Fed Chairman Jerome Powell delivered his semi-annual monetary policy testimony to the Senate Banking Committee. Indicating that the FOMC is unlikely to cut interest rates when it meets at the end of this month, traders are pricing in a slightly higher than 70% chance of the Feds first rate cut in September. They expect two 25 basis point rate cuts in 2024.

BTC spot ETF has seen net inflows for three consecutive working days. The German governments move to transfer BTC to the exchange did not cause a significant drop in BTC yesterday. The panic in the market may be gradually being digested, and the market is fluctuating weakly.

Some altcoins rebounded from oversold levels, but market liquidity is still scarce. TIA, the leading modular public chain project, surged.

2. Wealth-creating sector

1) Sector changes: Modular public chains (TIA, DYM)

The main reason: The modular public chain sector bottomed out and rebounded, the annualized short-selling fee rate of TIA on multiple leading exchanges exceeded 100%, and TIA was forced to rise.

Rising situation: TIA and DYM, two well-known modular public chain projects, rose by 18% and 15% respectively in the past 24 hours;

Factors affecting the market outlook:

  • The actions and operational ideas of market makers before the TIA unlock in October may be the key to determining the trend of its token.

  • If a large number of projects based on modular public chains such as Celestia issue coins in a centralized manner in each cycle and make large airdrops to TIA and DYM pledgers, or if these projects obtain significant financing and give the market higher airdrop expectations, it may drive a rapid rise in tokens such as TIA and DYM.

3. User Hot Searches

1) Popular Dapps

Stargate:

Stargate Finance is the first Dapp built on the LayerZero protocol. It has built the first fully composable native asset bridge, with the vision of making cross-chain liquidity transfer a seamless, single process. Yesterday, Coinbase Assets announced that it would re-enable Stargate Finance (STG) transactions (ERC-20 tokens) on the Ethereum network. Due to the news, STG rose by more than 9% in a short period of time, temporarily reporting $0.3778.

2) Twitter

Bitget Research Institute: BTC spot ETF has seen net inflows for three consecutive days, and market panic is being digested

SSV.Network:

The project is a decentralized, open ETH staking network for any individual or service provider who wants to run an Ethereum node. The network uses a privacy-sharing-based validator protocol to achieve secure and decentralized management of Ethereum validator node keys. Recently, SSV Network announced that more than 1,000,000 ETH have been staked in the protocol, with a TVL of more than $3 billion. Due to the high TVL and high degree of decentralization of the project, users can continue to pay attention.

3) Google Search Region

Bitget Research Institute: BTC spot ETF has seen net inflows for three consecutive days, and market panic is being digested

From a global perspective:

PEIPEI:

Chinese concept pepe token, according to coinmarketcap data, PEIPEI price rose 21.4% today, with a daily trading volume of 160 million US dollars. The number of holders is 26.32K, and the number of transactions on the chain is 4373. Due to the large trading volume and high increase, the community heat has increased.

From the hot searches in each region:

(1) There are no obvious characteristics in the Google Trends searches of Asian countries, but it is worth noting that the focus of Asian countries has gradually shifted from conceptual terms to specific projects. For example, Indonesia has shown its concern for the ETH ecosystem, and projects such as Etherfi have emerged. Singapore has also shown its concern for AI projects.

(2) There are no obvious characteristics in the hot searches in European and American countries, but the focus of the United States recently has been on meme tokens. There have been hot searches for cartoon character-type meme tokens such as Pepe and Floki, as well as political figure memes such as Boden and Trump.

Potential Airdrop Opportunities

Symbiotic

Symbiotic is a general purpose restaking project that enables decentralized networks to bootstrap powerful, fully sovereign ecosystems. It provides a method for decentralized applications, called Active Validation Services or AVS, to collectively ensure the security of each other.

Symbiotic recently completed its seed round of financing, with Paradigm and Cyber Fund participating in the investment, with a financing amount of US$5.8 million.

How to participate: Go to the project’s official website, link your wallet, and deposit ETH and ETH LSD assets.

Karak+Etherfi

Karak is Ethereum Layer 2, a re-staking layer with multi-chain advantages. Andalusia Labs behind it is a digital asset risk infrastructure provider, which has raised $51.2 million. Investors include Panetra, Lightspeed Capital, Framework Ventures, etc. Staking in Karak can get staking rewards + re-staking rewards + Eigenlayer points + staked LRT points + Karak XP at the same time. Currently, Karak has cooperated with Etherfi to launch a liquid pool. Staking various types of LRT or WETH into the liquid pool can get Eigenlayer points + staked LRT points + Karak XP + Etherfi Points triple points.

Specific participation methods: 1) Add the Karak network (you can go to chainlist to add Karak Mainnet); 2) Stake the coins in the Etherfi liquid pool.

Original link: https://www.bitget.com/zh-CN/research/articles/12560603812574

【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.

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