Bitget Research Weekly News: BlackRock Reapplies for BTC Spot ETF, Meme Sector Rises

Author: Bitget Research Institute

In the past week (7/3-7/7), the market has seen several new popular coins and topics.

I. Market Trends

The most focused topics in the market this week (07.03-07.07) are:

• Multichain suspected to be hacked, causing market panic and decline

• VMPX minting gas consumption exceeds 1900 ETH, market continues to fluctuate

• PEPE 2.0 surges, driving the Meme sector up, mainstream coins enter a consolidation phase in the short term

• BlackRock reapplies for a BTC spot ETF, stimulating market rise, leading POW coins like BCH and LTC start to correct

• COMP continues to lead the market, DeFi sector fluctuates upward

II. Popular Projects

The hottest projects this week (07.03-07.07) include:

WHEE (token): A meme token of BRC 20, with 53,500 Twitter followers, KOL @markjeffrey has repeatedly promoted and bought in, the token currently has a market cap of 6.8 million USD, up 8% in the past 24 hours, with a trading volume of 95,000 USD; recently launched the EVM cross-chain bridge Multibit Bridge, supporting ORDI, OXBT, and WHEE cross-chain, which has contributed to its popularity growth;

SHIB (token): A meme coin that experienced explosive growth in the last bull market cycle. The token has recently underperformed the market, but the trading community base is still decent, with potential for growth in a bull market. Additionally, the project is still developing the Shibarium public chain, which may perform well in the future, worth keeping an eye on.

VMPX (token): The eVMPX token officially opened minting at 1:25 AM on July 5, where users only need to pay gas fees to mint. In the future, eVMPX can be exchanged for the public chain token XN launched by XEN at a ratio of 1:3, leading to increased popularity recently. The BRC 20 format of VMPX has seen a certain dilution in token value, resulting in a daily price drop of 40%. Yesterday, the VMPX Mint contract on Ethereum burned 1900 ETH, pushing the network gas fee to around 50. Bitget has launched VMPX-ERC 20 (VMPXERC 20) in the Meme area, which can be a focus;

PEPE 2.0 (Token): A project created by a large holder previously blacklisted by PEPE, which has surged 5 times from the bottom recently, driving some memes to take off. The current on-chain liquidity is 1.46 million USD, with a trading volume of 9.33 million USD in the past 24 hours. Contract detection shows it has anti-whale features. Bitget was one of the first exchanges to list this project among CEXs, and today Kucoin announced its listing, generating high interest, worth keeping an eye on;

Fayden (NFT): Project FADA, based on on-chain data, the contract is an ERC-721 standard contract, with a significant number of "Set Approval For All" operations occurring yesterday. The project's NFTs are open for trading on Opensea, with a total trading volume of 25 ETH and a floor price of 18.8 Matic, with a total issuance of 5552 NFTs and 1005 holders.

Zerion DNA (NFT): Zerion DNA is an innovative generative NFT that evolves as users explore Web 3. Wallet activity will shape the appearance of the NFT, reflecting the true Web 3 journey. This means Zerion DNA will change over time, depending on the amount of gas consumed, assets held, supported networks, etc.;

Playbux (Dapp): A metaverse project on the BNB chain that integrates real-world stores (shop to earn), DEFI, NFTs, and virtual community activities. Users can explore the blockchain world (such as pancakeswap, 1 inch, NFT marketplace, mini-games, etc.) in Playbux's metaverse, while also experiencing real-world product shopping and earning rebates. Playbux has entered the top ranks of on-chain social active user lists, with 130,000 users in the past 30 days, showing high popularity;

Hooked (Dapp): A Binance Launchpad project, focused on web 3 education. The AI-like product - Hooked Academy Sensei will collaborate with OpenCampus to create future learning experiences. Currently, the token trading heat is average, mainly having a user base on the APP. It announced the official launch of its wallet half a month ago, gaining considerable attention in a short time;

LayerZero (Dapp): A cross-chain protocol that allows Dapps deployed on different chains to communicate without any intermediary chain or consensus mechanism. Currently, various contracts using LayerZero's underlying technology occupy nearly half of the gas consumption leaderboard on the Arbitrum chain, including Stargate, Woo, and NFTs on Holograph.

III. Hot Searches

The hottest topics this week (07.03-07.07) include:

BTC (Token): Larry Fink, CEO of BlackRock, referred to cryptocurrency as "digital gold" in an interview with Fox Business on Wednesday, calling Bitcoin an international asset. Bitcoin is not an investment in gold to hedge against any country's heavy issues or currency devaluation, but rather an international asset. The CEO's public support for BTC has formed substantial benefits for BTC prices, ending the phase of price correction.

Litecoin (Token): The crypto exchange EDX, backed by well-known American institutions Fidelity, Citadel, and Charles Schwab, supports trading of BTC, ETH, LTC, and BCH. LTC and BCH previously had good market performance, but the tokens corrected yesterday, with LTC and BCH dropping around 15%, leading to increased market liquidation. The volatility of related tokens has increased, and investors need to have strategies for profit-taking and stop-loss.

PENDLE (Token): Pendle's TVL has steadily increased month by month since January, rising from 15 million USD at the beginning of the year to over 120 million USD currently. Binance is optimistic about the LSDFi track and announced the listing of PENDLE yesterday. The price of PENDLE surged briefly before falling, and yesterday the price rebounded, also driving up the price of LBR (Lybra Finance), which belongs to the LSDFi track. Bitget has listed LBR;

SHIB (token): A meme coin that experienced explosive growth in the last bull market cycle. The token has recently underperformed the market, but the trading community base is still decent, with potential for growth in a bull market. Additionally, the project is still developing the Shibarium public chain, which may perform well in the future. Today, SHIB 2.0 tokens appeared on-chain, with prices surging 700 times, and Bitget has listed it for trading;

The Bitget Research Institute focuses on "focusing on on-chain data and discovering valuable assets," providing institutional-level insights for crypto enthusiasts by continuously monitoring on-chain data and regional hot searches to uncover cutting-edge value investments. To date, it has provided Bitget global users with early valuable assets in several popular sectors such as the [Arbitrum ecosystem], [AI ecosystem], and [SHIB ecosystem], creating a better wealth effect for Bitget global users through data-driven in-depth research.