Bitget Research Weekly News: BASE mainnet officially open to the public, ARK Bitcoin spot ETF application results to be announced soon

Author: Bitget Research Institute

1. Market Trends

The main focus of the market this week (08.07-08.11) is:

• The result of the ARK Bitcoin spot ETF application is approaching, and Binance Labs invested $5 million to purchase CRV.

• The BASE mainnet has officially opened to the public, and the Bitcoin ETF review on the 13th has increased market volatility.

• The overall wealth effect is warming up, with the Bot sector leading the market.

• The popularity of the Bot sector continues to rise, and institutions have started to sell off YGG.

• The overall market is experiencing low volatility fluctuations, with YGG driving the GameFi sector up.

2. Popular Projects

The hottest projects this week (08.07-08.11) are:

OXBT (Token): A BRC 20 token issued by KOL @BitGod, launched through multiple communities, KOL whitelist + public free minting. After going live, the number of holding addresses quickly reached nearly 20,000; the project is currently one of the BRC 20 tokens with the most holding addresses, with active on-chain transfers. The project team stated on Twitter that the morale in the BRC 20 track is low and liquidity is limited, requiring persistent efforts for development.

XRP (Token): A project similar to Bitcoin meme coins, officially named HarryPotterObamaPacMan 8 Inu, suspected to be issued by KOLs, heavily promoted by @Yourpop 8, @stekisteks, and @henokcrypto. The token's launch price surged several times, reaching a market cap of $8.4 million, with a trading volume of $2.73 million in the past 24 hours.

LINK (Token): The price of Chainlink's token is testing the downward trend line of the past two years. Since Chainlink launched its Cross-Chain Interoperability Protocol (CCIP) last month, it has been expanding its infrastructure capabilities beyond oracles, recently supporting oracle price feeds for the BASE network. The product updates are rapid, and the LINK token price has performed strongly, rising over 60% in the past two months and maintaining a high level.

SHIB (Token): The Layer 2 network Shibarium based on Ethereum has launched public testing for its cross-chain bridge and will kick off SummerOfShibarium. The SHIB token has risen by up to 20% in the past week, gaining significant popularity.

Pandra (NFT): An NFT issued by Polyhedra Network, conducting cross-chain Pandra series NFTs, capable of interacting with both zkBridge and LayerZero. The task deadline is August 20, and the airdrop hype has increased the NFT's transactions.

Coinbase (Dapp): Base has officially opened its mainnet to the public, with the DeFi project Maverick launching on the Base network and conducting LP activities, providing liquidity for trading pairs like cbETH-ETH and minting Mava IV-Base NFTs, which will support Coinbase's LSD Token cbETH on the Base network.

Bridegebase (Dapp): Base L2 has announced the opening of its mainnet and launched an official cross-chain bridge, supporting Ethereum cross-chain ETH to Base. In the past 7 days, the TVL assets of Base L2 have rapidly increased by 72%, with cross-chain assets currently reaching $142 million.

Circle (Dapp): USDC stablecoin issuer Circle has launched a new programmable Web 3 wallet platform, allowing developers and merchants to integrate Circle's programmable wallet and personalize it for their applications, as well as build services on it, enabling consumers to send, receive, and store cryptocurrencies, including Circle's USDC and NFTs.

3. Hot Searches

The hottest topics this week (08.07-08.11) are:

PYUSD (Token): PayPal has launched a dollar stablecoin, PayPal USD, for transfers and payments. This stablecoin is issued by Paxos and is backed by US dollars, short-term government bonds, and cash equivalents, gradually opening to PayPal's customers in the U.S. Qualified U.S. PayPal users purchasing PYUSD will be able to: transfer PYUSD between PayPal and compatible external wallets, use PYUSD for peer-to-peer payments, choose to use PYUSD at checkout, and exchange any cryptocurrency supported by PayPal for PYUSD.

Unibot (Token): A leading project in the TG Bot sector, well-positioned in the market. The project offers DEX trading on TG, automatic subscriptions, Copy Trading, etc. Currently, the project has the highest user volume, and the protocol achieved daily trading fee revenues of up to $650,000 at the end of July, with daily revenues around $100,000. The search frequency of Unibot-related terms on Google increased nearly fourfold in July, indicating high project visibility. The token has now been listed on Bitget.

APT (Token): Aptos officially announced a collaboration with Microsoft to develop a new AI blockchain solution. Following the announcement, the APT price surged 15% to $7.7, currently retreating to around $7.4, attracting significant market attention and becoming a trending search term on Google. According to Token Unlock data, APT will unlock $30.58 million worth of tokens on the 12th of this week, putting pressure on the price.

The Bitget Research Institute focuses on "focusing on on-chain data and uncovering valuable assets," continuously monitoring on-chain data and regional hot searches to discover cutting-edge value investments, providing institutional-level insights for cryptocurrency enthusiasts. To date, it has provided Bitget's global users with early value assets in several popular sectors such as the 【Arbitrum ecosystem】, 【AI ecosystem】, and 【SHIB ecosystem】, creating better wealth effects for Bitget's global users through data-driven in-depth research.