Israel launched a retaliatory strike against Iran on Friday morning Beijing time, causing Bitcoin to fall 5% and fall below $60,000, and then quickly rise to above $60,000. At present, the market rebound demand is relatively strong. With less than a day before Bitcoin halving, Bitcoin re-staking public chain BounceBit is about to go online.
The sectors with strong wealth creation effects are: Base ecology, Ton ecology, and Bitcoin’s second-layer public chain
Hot searched tokens and topics: Seraph, Runes, RWA, FLOKI
Potential airdrop opportunities include: Myshell, Renzo
Data statistics time: April 19, 2024 4: 00 (UTC + 0)
1. Market environment
Israel launched a retaliatory strike against Iran on Friday morning Beijing time. As Israel retaliated against Iran's missile attack last week, Bitcoin fell 5% to below $60,000, then quickly rose and recovered above $60,000. U.S. stock index futures also fell, while crude oil prices rose.
In terms of popular projects, two popular projects, Avail and Bouncebit, are about to release airdrops and coin listings. Avail announced the airdrop rules today and launched the airdrop query website. The reward categories include developers of the entire blockchain ecosystem, incentivized testnet contributors, aggregated users, Polygon PoS stakers, and community members who have made significant contributions to the blockchain ecosystem. BounceBit, a Bitcoin re-staking public chain, also announced the launch of Binance Megadrop, and 8% of the tokens will be airdropped to participants.
2. Wealth-making sector
1) Sector changes: Base ecosystem (DEGEN, SEAM)
The main reason: Base released the list of 10 selected teams for the 6th round of Base Builder Funding Program in 2024 on the social platform. Base has maintained continuous financial support for various projects in developing the ecosystem, continued the enthusiasm of developers on the chain, and continuously enriched its ecosystem. In addition, Base ecological projects are also constantly cooperating with each other. Seamless Protocol stated that it will provide support for DEGEN and SEAM tokens, expanding the diversity of assets.
Rising situation: In the past 24 hours, DEGEN rose by 10.28%, SEAM rose by 4.46%, and the increase in the past 7 days was about 10%;
Factors affecting the market outlook:
Base Ecosystem TVL and Capital Inflow: Currently, Base Ecosystem TVL has exceeded 1.48 billion USD, up more than 112% in the past month. Currently, it ranks sixth among public chains. If funds continue to flow in, the overall ecological currency price will rise further. At the same time, the speed of Base token launches on various exchanges has significantly accelerated. The secondary market funds flowing in from exchanges will also indirectly affect the Base Ecosystem TVL.
Coinbase business volume: For the Base ecosystem, the largest inflow still comes from the Coinbase exchange. Coinbase absorbs buying orders from ETFs. At the same time, most ETH ETFs that are about to usher in the final result in May also choose Coinbase as the custodian. If the ETH spot ETF is approved in the future, its business volume will further increase, and the Coinbase ecosystem will also rise.
2) Sector changes: Ton ecosystem (STON, TGRAM)
Main reasons: 1) According to official news, TON posted on social media that it will release a major announcement soon. The poster included pictures of Tether, AMM protocol STON.fi, and staking protocol Tonstakers, which led to investors buying into related projects. 2) TON ecosystem Meme project Notcoin said on social platforms that it will release the token NOT on April 20. It also stated that users can obtain wNOT on Shardify and exchange it for NOT after TGE.
Increase: In the past 24 hours, STON increased by 12.2% and TGRAM increased by 22.97%.
Factors affecting the market outlook:
Wealth effect of Launchpad: Most of the emerging high-trading volume tokens in the sector come from Launchpad projects in the Ton ecosystem, with a wealth effect of 10-100 times. If this wealth effect can be replicated in later projects, the hype of the Ton public chain will be further enhanced.
Notcoin's performance on the coin: As the most popular project on the Ton chain, countless eyes are on Notcoin. Currently, the number of players exceeds 27 million, and X (Twitter) follows 1.68 million. The transaction volume on getgems exceeds 3.1 million Tons, equivalent to 21 million US dollars. Notcoin will issue the coin on April 20. If the market acceptance after the issuance is high and the coin price performs well, the ceiling of the Ton ecosystem will be further opened.
3) The sector that needs to be focused on in the future: Bitcoin's second-layer public chain
Main reason: Bitcoin halving is approaching, and BTC ecological projects have become the focus of market attention. CKB, as a UTXO Stack prototype project, is highly favored and is considered one of the best representatives of Bitcoin Layer 2 technology. Recently, asset issuance protocols based on RGB++ have also gradually emerged, bringing wealth-creating effects to the ecosystem. Similarly, the launch of new coins has also brought new hot spots to Bitcoin's second-layer public chain. MERL and BB have been listed on exchanges such as OKX and Binance, respectively, and a large number of airdrops are waiting for profit-taking.
Specific currency list:
CKB: The RGB++ protocol developed by CKB has been very popular recently. It is an asset issuance protocol for the BTC ecosystem and has a good ecological wealth effect.
BB: BounceBit is a BTC re-staking public chain. The maximum supply of BB is 2.1 billion, and the initial circulation is 409.5 million. It is a Binance Lab investment project. Binance will list BB after the Megadrop is completed.
MERL: Merlin Chain was launched by the Bitmap Tech team in January. It is a Layer 2 project based on the Bitcoin network. Currently, the TVL on the Merlin chain has reached 3.1 billion US dollars, making it the project with the highest TVL in Bitcoin L2.
3. User Hot Searches
1) Popular Dapps
Seraph (no token issued yet):
The pre-season of the ARPG dark treasure-hunting blockchain game "SERAPH: In the Darkness" developed by Seraph Studio was officially launched yesterday. The game was invested and incubated by the Korean game giant Actoz Soft. It inherits the core gameplay of the classic dark-style game and introduces a variety of MMO elements such as AI companionship, multiplayer team, PVP rankings, etc., which improves the playability and sociality of the game. SERAPH is currently the leader in the "second-generation blockchain game" that has received extremely high attention. This dark ARPG has completed the third round of testing, and it is so popular that some players are eager to buy test activation codes to experience the game as soon as possible. Not only are Web3 players enthusiastic about SERAPH, but the number of Web2 players and Web3 players in this round of testing has formed a 55-50 split, and the circle-breaking effect is very amazing. Investors can participate in its new round of testnet.
2) Twitter
Nansen:
Recently, data analysis platform Nansen announced that it will integrate zkSync into its blockchain data tools and launch the zkSync dashboard to provide on-chain data and analysis for the zkSync ecosystem. At the same time, its founder Alex Svanevik posted on the X platform that the Nansen platform plans to launch the PNL (profit and loss calculation) function, and is currently testing the function and the panel. After the announcement of the news, it set off a high level of sentiment and discussion in the Twitter community.
3) Google Search & Region
From a global perspective:
Runes:
Recently, with the upcoming halving, the BTC ecosystem is active. The founder Casey's genuine Runes protocol will be officially launched around the 20th of this month. Yesterday, Magic Eden posted on the X platform that it will launch the Runes platform on April 23. After the launch of the Runes protocol, the market has paid more attention to BTC and the BTC ecosystem, and the wealth effect may be more obvious. Currently, RSIC (Runecoin) on Whales Markets can be bought at a price of 0.033, so you can pay attention.
From the hot searches in each region:
(1) The English and Asian regions have shown a certain degree of interest in RWA:
The overall market fluctuated this week, and the RWA track showed a good anti-falling trend. With the community popularity and a small wealth effect brought by the launch of Parcl, the English-speaking and Asian regions as a whole still pay great attention to this topic. Currently, there are many world-renowned asset management institutions participating in the construction of the RWA track, such as BlackRock. As traditional finance continues to use new technologies to bring financial products into the blockchain field, the market share of this field will continue to increase.
(2) Africa, Latin America and CIS regions still have a high level of interest in FLOKI tokens:
FLOKI has been a hot search term in the Middle East and Latin America many times, indicating that these regions generally pay great attention to MEME. Secondly, as a larger MEME token in local exchanges and a trading pair with locally issued coins, FLOKI has a large user base. In market fluctuations, speculation on MEME tokens such as FLOKI is also common.
Potential Airdrop Opportunities
MyShell
MyShell is a Web3-enabled AI platform that allows users to create personalized chatbots, called "Shells". The platform is said to currently have about 50,000 creators and more than 1 million registered users, and its ecosystem includes multiple tools and services such as OpenVoice, MeloTTS, and Alice. The project currently has a large user base and the official website has a clear airdrop plan, so you can participate early.
The project has a great financing background. Yesterday, it announced the completion of $11 million in Pre-A financing, led by Dragonfly, with angel investors including Bankless Ventures, Balaji, Lllia, etc. Previously, it completed a $5.6 million seed round of financing at a valuation of $57 million, including participation from INCE Capital, Hashkey Capital, Folius Ventures, etc.
Specific ways to participate in the airdrop: users can choose to register an account on the official website and exchange shell points by completing daily tasks, including creating a telegram robot, etc. Subsequent airdrop rewards will be based on shell points. Currently, the seventh season of points exchange tokens is underway, and you can continue to participate.
Renzo Protocol
Renzo is a Restaking protocol based on EigenLayer. Renzo saves end users from the complicated process of Restaking, and stakers do not have to worry about the selection, management and reward strategy of operators. The protocol currently has a TVL of 1.8 billion US dollars, making it the second largest project in the Liquid Restaking track.
The project completed its seed round of financing this year, with a financing amount of more than 3.2 million US dollars and a valuation of 30 million US dollars. Participating institutions include Binance Labs and OKX Ventures. The project's coin issuance is expected to be supported by the top exchanges. As the coin issuance is approaching, it is expected that the TVL will continue to rise in the future. Since Etherfi has increased the valuation of the entire track, the wealth effect of the token airdrop is expected to be good.
Specific ways to participate: (1) Stake ETH on Renzo Protocol’s official website to become eETH; (2) Deposit eETH into other DeFi platforms for financial management and interest;
More information about Bitget Research Institute: https://www.bitget.fit/zh-CN/research
Bitget Research Institute focuses on "focusing on on-chain data and mining valuable assets". It mines cutting-edge value investments through real-time monitoring of on-chain data and regional hot searches, and provides institutional-level insights for crypto enthusiasts. So far, it has provided Bitget's global users with early-stage valuable assets in multiple popular sectors such as [Arbitrum Ecosystem], [AI Ecosystem], and [SHIB Ecosystem]. Through in-depth data-driven research, it creates a better wealth effect for Bitget's global users.
【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.
