Bitget Research Institute: The FOMC interest rate meeting released hawkish statements, and the market is adjusting while waiting for the $ARB launch

Author: Bitget Research Institute

1. Popular Tokens:

IC (token): A meme coin featuring a fox image, with on-chain liquidity of $570,000, a 24-hour trading volume of $4.61 million, a market cap of $4 million, high activity, and a price increase of 8 times since the TGE on the 22nd;

HOBBES (token): Positioned as Elon’s Yorkshire Terrier raised for 15 years, Elon tweeted about the name of the Yorkshire Terrier and other related information on March 19, and his mother also replied to express her fondness for Hobbes. Currently, the token has a 24-hour trading volume of $1.79 million, on-chain liquidity of $200,000, and a market cap of $2.56 million; the price has increased over 100% after a recent pullback in the last 24 hours;

AGIX (token): SingularityNET, a leading project in the AI sector, has high trading activity, continuously empowering the token price with the release and iterative upgrades of products like GPT-4, as well as its ecological AI concept projects conducting IDOs;

GALA (token): Recently, from March 20 to 24, the Game Developers Conference was held in San Francisco, where Gala was a sponsor, and the secondary market trading activity was quite good;

Space ID (token): Space ID opened exchange trading and airdrops yesterday, with a massive number of airdrop claim addresses; it has already been listed on top exchanges like Bitget, Binance, and Kucoin, with high trading enthusiasm, achieving a 24-hour trading volume of $690 million;

Square (SQUA): A payment token on BSC, recently showing a good price increase trend, with on-chain liquidity of $7.18 million and a 24-hour trading volume of $6.92 million;

AOS (token): A new project from the SOS team, based on OpenAI's decentralized finance, the token conducted airdrops for SOS holders, supported by exchanges like OKX, with high on-chain trading activity. The previous SOS project token price experienced a period of hype but showed poor performance afterward, and investors should be cautious of risks;

SUIBG (token): SUI Futures Token. BitKeep and Bitget jointly launched a futures airdrop called SUIBG (SUI Futures Token), which can serve as a redemption certificate for its native token SUI after the Sui Network mainnet goes live. Users can participate in red envelope airdrops, trading rewards, and other activities in the BitKeep wallet, or join the SUIBG carnival event on the Bitget trading platform to receive SUIBG; SUI officials provide early users with the opportunity to purchase SUI tokens at a low price, with high on-chain participation;

Gridex (GDX): An order book DEX on Arbitrum, the project token increased 10 times in the secondary market after the airdrop circulation, with on-chain liquidity of $200,000 and a trading volume of $68,000, showing low amounts but high trading frequency;

RDNT (token): A lending platform based on Stargate on Arbitrum, recently launched its V2 version, optimizing products and enriching the lending assets and economic model updates, with a total project market cap of $380 million. After several favorable developments, the price has seen some pullback, with a 24-hour trading volume of $24.63 million;

2. Popular NFTs:

Zora1155 (NFT): A free mint NFT called Blue Sky 1155 launched by Zora, with 2 days remaining. Currently, there have been 22,000 mints across 4 versions, showing high participation, and it also showcases Zora's self-created NFT functionality;

The Locals (NFT): A PFP-type NFT, which launched its second phase of NFT sales yesterday in a freemint format. The increase in supply has led to a noticeable drop in NFT prices, but the secondary market trading activity remains high; many NFT KOLs are promoting it on Twitter;

3. Popular DApps:

Zksync, Starknet (Dapp): Under the influence of the airdrop effect on Arbitrum, the number of users and funds interacting with deposits on Zksync and Starknet has increased. Currently, Zksync has 30,000 ETH in deposits, while Starknet has 6,880 ETH; funds seeking airdrops and wealth effects have migrated to Zksync and Starknet, and users should stay tuned;

ChangeNOW exchange (Dapp): A non-custodial exchange for crypto-to-crypto and fiat trading, allowing users to trade over 200 tokens quickly and without registration. The project integrates DeFi and CeFi, with an average exchange time of 5 minutes, and on-chain trading is very active;

Link3 (Dapp): A Web3 social task network incubated by CyberConnect, where users can build their own decentralized social graph by completing their on-chain and off-chain profile information. The project is led by Binance and Redpoint, and with Space ID's IEO and airdrop on Binance, the market has similar expectations for this project, maintaining high interaction activity;

Lens protocol (Dapp): A leading on-chain social platform, with the wealth effect generated by Arbitrum and Space ID airdrops continuously stimulating user interactions within the Lens ecosystem. There are many ecological projects, including well-performing ones like Phaver, Lenster, and Orb, and users should stay tuned and participate;

ARB Bulk Registrar (Dapp): A .arb domain registration contract in collaboration with Space ID and Arbitrum, with 18,045 registrations in the past 24 hours and 168,238 independent holding addresses, showing high enthusiasm for domain speculation;

Galxe (Dapp): An on-chain task platform and a leading application for DID. With Space ID's token launch shifting some crypto users' focus to the DID track, along with Arbitrum's token launch leading to users' expectations for various project airdrops (many projects will use "user participation in activities hosted by Galxe and holding activity OAT" as one of the airdrop criteria), Galxe's daily active users continue to rise. On March 22, the project announced its launch on Avalanche, and future multi-chain deployments will continue to enhance Galxe's project repository, becoming a key bridge connecting users and projects. On March 23, Twitter hinted at the launch of important features;

Stargate (Dapp): Developed by the LayerZero Labs team, Stargate is a fully composable liquidity transfer protocol and the core of Omnichain DeFi. Using Stargate, users and DApps can transfer native assets across 7 chains (with more to be supported in the future). Recently, influenced by the Arbitrum airdrop, many users are eager to participate in Stargate to obtain LayerZero airdrops;

Hop (Dapp): The project is a multi-chain cross-chain bridge, recently influenced by the Arbitrum token launch, with some tokens allocated to projects in the Arbitrum ecosystem, with HOP accounting for 5%. Stimulated by this news, many users have begun to pay attention to and use Hop, which will also support cross-chain for projects like zkSync and Scroll in the future;

Venus Protocol (Dapp): Venus Protocol is currently the leading decentralized money market protocol on the BNB Chain, with a current TVL of $1.34 billion, ranking second on BSC. Following the launch of SpaceID, many users borrowed BNB to participate in new projects, increasing product usage;

4. Twitter Hot Topics:

APE (Token): The BAYC project token, currently offering a saving feature on Bitget with an annualized yield of 45%. It is a leading project in NFTs and gaming, with price support, and staking can yield high passive income;

NOM (Token): Onomy Protocol, the token has been listed on Kucoin, Bitfinex, and Bitget. The project uses a bidding curve for public sales, with the current sale price at $1.44 and a secondary market trading price of $1.08. The project's fundamentals are solid, mainly providing exchange rate trading on-chain DEX, and it can be kept under observation;

TRX (Token): The native token of Justin Sun's Tron public chain, which saw a price drop of over 10% after the SEC announced a lawsuit against Justin Sun for violating relevant securities issuance regulations, resulting in a substantial negative event;

Airdrop Token (Event): Less than 8 hours until the Arbitrum airdrop of the native token, a frontend bug appeared on the Arbitrum website yesterday, temporarily showing users' airdrop data as zero, sparking community discussions. The data was briefly fixed, and the token airdrop activity will proceed as planned. Bitget will open ARB deposits and spot trading as soon as possible, and users should stay tuned;

5. Regional Hot Searches:

FOMC Meeting (News): The Federal Reserve announced an increase in the benchmark interest rate by 25 basis points to a range of 4.75%-5.00%, and most Fed officials expect rates to be between 5% and 5.5% by the end of 2023, indicating that this round of rate hikes may be nearing its end. Powell stated that the Fed is continuing to significantly reduce its balance sheet, but events in the banking sector will impact decision-making.