Bitget Research Institute: Focusing on On-Chain Data, Weekly News Summary
On-chain data & Weekly newsAuthor: Bitget Research Institute
1. Market Trends
The main focus of the market this week (3.20-3.24) is:
Arbitrum airdrop ignites user interaction and enthusiasm for L2, BitKeep launches Sui futures to capture token value in advance
BitKeep tops the Arbitrum Dapp daily active list, with SpaceID leading a surge in daily active DID applications
Major blue-chip futures tokens ARBK and SUIBG continue to gain traction, as the market awaits the Fed's interest rate announcement on the 23rd
FOMC's hawkish statements during the interest rate meeting lead to market corrections, awaiting the $ARB launch
ARB becomes the biggest hotspot, zkSync tweets spark airdrop speculation
2. Popular Projects
The hottest projects this week (3.20-3.24) are:
Space ID (token): Space ID opened exchange trading and airdrop yesterday, with a massive number of airdrop claim addresses; it has now launched on top exchanges like Bitget, Binance, and Kucoin, with a trading volume of $690 million in 24 hours;
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 the native token SUI after the Sui Network mainnet launch. Users can participate in red envelope airdrops, trading rewards, and other activities in the BitKeep wallet, or join the SUIBG carnival on the Bitget trading platform to receive SUIBG; the Sui official provides early users with the opportunity to purchase SUI tokens at a low price, with high on-chain participation;
HOBBES (token): Positioned as Elon’s 15-year-old Yorkshire Terrier, Elon tweeted about the name of the Yorkshire Terrier and other related information on March 19, and his mother also replied to the tweet expressing her love 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 risen over 100% after a correction in the last 24 hours;
AGIX (token): SingularityNET, a leading project in the AI sector, has high trading activity, continuously empowering token prices with the release and iterative upgrades of products like GPT-4, as well as its ecological AI concept projects undergoing IDO;
ARBK (Token): Arbitrum Futures BitKeep, ARBK is the redemption certificate for the official Arbitrum Token launched by BitKeep. Holding ARBK and completing corresponding tasks grants eligibility for a 100% redemption of the official Arbitrum Token in the future, allowing users to anticipate the Arbitrum ecosystem. Yesterday, ARB officially launched, enhancing expectations for ARBK and gaining traffic support;
Pix nft assets (NFT): Planet IX related NFT assets, Planet is one of the hottest games on Polygon, consistently ranking at the top of the Polygon ecosystem leaderboard, with very high user activity;
Zksync, Starknet (Dapp): Under the influence of the Arbitrum airdrop effect, the number of users and funds interacting on-chain in Zksync and Starknet has increased, with Zksync currently holding 30,000 ETH in deposits and Starknet holding 6,880 ETH; funds seeking airdrops and wealth effects have migrated to Zksync and Starknet, and users should stay tuned;
Galxe (Dapp): An on-chain task platform and leading DID application. With the launch of Space ID's token, some users in the crypto community have shifted their focus to the DID track, coupled with the airdrop from Arbitrum leading to user expectations for multiple projects (many project parties will use "user participation in activities hosted by Galxe and holding activity OAT" as one of the airdrop criteria), resulting in a continuous increase in Galxe's daily active users. On March 22, the project team announced the launch on Avalanche, and future multi-chain deployments will continue to enhance Galxe's project reserves, becoming a key bridge connecting users and projects. On March 23, Twitter hinted at the launch of important features;
Link3 (Dapp): A Web3 social task network incubated by CyberConnect, allowing users to build their own decentralized social graph by completing their on-chain and off-chain profile information. The project is led by Binance and Red Shirt, 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, as the wealth effect from the Arbitrum and Space ID airdrops continues to stimulate user interaction within the Lens ecosystem. Currently, there are many ecological projects, including well-performing projects like Phaver, Lenster, and Orb, and users should stay tuned and participate.
