Bitget Research Weekly News: The wealth effect in the bot sector is significant, and Powell's dovish remarks have warmed up the market
Author: Bitget Research Institute
In the past week (7/24-7/28), the market saw several new popular coins and topics.
Market Trends
The most focused topics in the market this week (07.24-07.28) are:
The BOT sector rebounded across the board, and the U.S. passed the "Payment Stablecoin Transparency Act."
Powell released dovish remarks, and the overall market warming led to a rebound in the MEME sector.
The market is waiting for direction after the interest rate hike, with some meme coins experiencing short-term rebounds.
The overall market declined, but Twitter's rebranding to X drove DOGE to rise against the trend.
The wealth effect in the Bot sector is evident, with Bitget launching the world's first BOT trading zone.
Popular Projects
The hottest projects this week (07.24-07.28) are:
ORDI (token): Recently, mainstream projects in the BRC 20 sector have made some new progress. UniSat Wallet announced the launch of the Ordinals native DEX platform "brc 20-swap," allowing anyone to deploy new trading pairs and add liquidity to the DEX. Additionally, media reports indicate that it is raising funds with a valuation of $50 million, and some investors have already been confirmed, currently in discussions with Binance Labs. As the leading token in the sector, ORDI has been active recently, with a 24-hour trading volume of $15 million and over 12,000 on-chain holding addresses.
XXX (Token): As a meme token, the concept originates from Elon Musk's formation of "X Holdings," and he has also renamed Twitter to "X." The related token is currently experiencing high trading activity, with a market cap of $2.68 million and a 24-hour trading volume of $4.7 million.
ESPR (Token): This project belongs to the TG Bot sector and can be used to customize and issue ERC 20 tokens. Ordinary users can issue tokens in just a few minutes. The project states that it will use tax revenue for token buybacks, marketing, and adding liquidity, with a trading volume of $3.85 million in the past 24 hours.
LINK (Token): The crypto oracle provider Chainlink announced the launch of a Cross-Chain Interoperability Protocol (CCIP), a technology designed to link public and private blockchains, which has gone live on Avalanche, Ethereum, Optimism (now renamed OP Mainnet), and Polygon mainnet. Link stated that the synthetic asset protocol Synthetix is using CCIP for seamless cross-chain token transfers through a highly secure burn-and-mint model. Meanwhile, the digital asset platform Matrixdock announced it is using Chainlink's Proof of Reserves (PoR) to enhance the transparency of its short-term treasury token "T-Bill" on the Ethereum mainnet.
Tabi Artifact Chest (NFT): An NFT issued by the BSC-based NFT marketplace Tabi, the project’s Twitter introduction states, "Bridging Web 2 to Web 3 through gameplay and NFTs." Recently, several KOLs tweeted that Tabi is the next Arkham (which just completed its token issuance and airdrop), leading to a noticeable increase in interactive users ahead of the airdrop expectations.
Merkly (NFT): A multi-chain NFT cross-chain bridge that connects NFTs across networks via LayerZero and zkSync. With airdrop expectations from LayerZero and zkSync, Merkly has become a part of zk+Layer 0 interactions, resulting in high interaction data and a surge in multi-chain NFT minting.
Unibot (Dapp): Unibot is a type of Telegram trading bot that helps users achieve faster trades than DEXs. Some users have achieved good returns through Unibot. CG and CMC have added a category for Telegram Bots in their token classifications, leading to increased popularity recently. The token UNIBOT has seen a significant rebound in the past 24 hours, with a trading volume of $18,120,639 and a very strong price performance; currently, Unibot has been launched on Bitget for spot trading.
zkSync Era (Dapp): On July 25, Eralend, a leading lending protocol in the zkSync ecosystem, was attacked, significantly impacting the entire ecosystem. Recently, zkSync's TVL has continued to decline, with data from the l2beat website showing zkSync's current TVL at $442 million, only 60% of its peak of $735 million.
Linea (Dapp): Linea, an Ethereum Layer 2 solution launched by ConsenSys, announced that it is opening access to the Alpha version of the Linea mainnet to the entire Linea community. Developers can access the Rollup and ETH bridge UI as well as RPC endpoints in Infura and MetaMask. Currently, the Linea mainnet has crossed 13,194 ETH, with a TVL of $24.71 million, showing rapid project progress that is worth following.
Hot Searches
The hottest topics this week (07.24-07.28) are:
FOMC (Event): The Federal Reserve announced yesterday a 25 basis point rate hike, raising the base rate to the range of 525-550, and does not rule out the possibility of another hike in September, with no rate cuts expected this year. The rate hike has led to speculation in DeFi project tokens in the RWA sector, with SNX, MKR, and COMP seeing significant increases. The oracle Link can provide off-chain pricing for RWA, leading to price rebounds. Mainstream tokens like BTC and ETH have experienced a phase of rebound due to the release of risk sentiment.
WLD (Token): WorldCoin, a project by Sam Altman, the father of ChatGPT, has garnered significant attention, with exchanges like Binance, OKX, and Bitget listing it immediately. After its launch, it faced continuous controversy, with its narrative and tokenomics widely discussed. After the WLD price fell below $2 on its first day, it surged to around $2.5 the next day.
DOGE (Token): Musk retweeted a video tweet related to Dogecoin and the new logo "X" released by My Doge wallet UX/UI designer DogeDesigner on social media. His personal social media account has been rebranded to XD (Twitter X + DOGE symbol).
The Bitget Research Institute focuses on "focusing on on-chain data to uncover valuable assets," providing institutional-level insights for crypto enthusiasts by continuously monitoring on-chain data and regional hot searches to discover cutting-edge value investments. To date, it has provided Bitget global users with early valuable assets in several popular sectors, including the 【Arbitrum ecosystem】, 【AI ecosystem】, and 【SHIB ecosystem】, creating a better wealth effect for Bitget global users through data-driven in-depth research.
【Disclaimer】The market is risky, and investment should be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views, or conclusions in this article align with their specific circumstances. Investment based on this is at one's own risk.