Bitget Research Weekly News: SocialFi track has seen continuous innovations recently, and the Mt. Gox repayment date has been postponed by one year
Focus on on-chain data, weekly news roundup.Author: Bitget Research
In the past week (09.18-09.22), the market has seen several new trending coins and topics.
1. Market Trends
The most focused topics in the market this week (09.18-09.22) are:
Hawkish comments from the FOMC led to a rise in the dollar index, causing a decline in overall crypto assets.
Mt. Gox has postponed the repayment date by one year, and the Federal Reserve maintained interest rates in September.
The SocialFi sector has seen continuous innovations recently, with the SEC's crypto chief revealing that more industry charges are forthcoming.
The market showed weak performance with initial gains followed by declines, while TIP has continued to rise after its secondary market launch.
Ethereum gas fees have dropped to single digits, and the friend.tech protocol fees have exceeded $20 million.
2. Popular Projects
The hottest projects this week (09.18-09.22) include:
SATS (Token): BRC 20 token, the smallest unit of Bitcoin, Satoshi, with a total supply of 21 million. The minting progress is at 96%, thus it is not listed. The minting cost ranges from 0.3 u-1.6 u, and the gas consumption for minting alone has exceeded $15 million; Unisat announced today that it will launch its BRC 20-swap for early public testing on September 26, which is favorable for the BRC 20 sector.
TIP (Token): The popular SocialFi project Tip Coin has issued its token, with 40% of the TIP token allocated for airdrops. In Epoch 1, 15% is for liquidity provision and 15% for airdrops; in Epoch 2, 20% of the tokens are for airdrops; in Epoch 3, 5% of the tokens are for airdrops. TIP was delayed to launch on September 19 due to data issues, and after the initial airdrop users' selling pressure was digested, the token saw a 4x increase in the secondary market, with a market cap reaching $10 million and a 24-hour on-chain trading volume of $1.2 million.
APX (Token): Created by well-known KOL CroissantEth, it utilizes ChatGPT to create a script that allows ChatGPT to issue tokens and deploy them on the Ethereum chain. The token name and quantity are all generated by ChatGPT. The project saw 7,189 interactions within just 4 hours of launch, with the number of holding addresses rising from zero to 1,581, and a trading volume of $7.51 million, increasing over 50 times, indicating high interest.
ARC 20 (Token): A newly launched protocol on BTC that addresses the elusive "colored coin" problem on Bitcoin. It is a token standard for BTC that is decentralized and operates in the same way as native Satoshi UTXO, allowing it to be split and merged like any Bitcoin. Each token unit is backed by an arbitrary number of Satoshis, serving as a way to utilize Satoshi as an account unit—just like Bitcoin itself; its first token, ATOM, has a total of 21,000, and all have been mined using CPU.
Maximals (NFT): A project that conducted a Free Mint yesterday, which was quickly minted out after launch, showing strong community interest. The NFT floor price has risen to 0.011 ETH, with nearly 5,000 transactions and a total trading volume of 53 ETH. Currently, there are 3,414 independent holding addresses on-chain, and trading interest is quite good.
Circle (Dapp): USDC issuer Circle announced that USDC has launched on the Polkadot mainnet. Polkadot USDC is natively issued on the Asset Hub and can be seen as the official form of USDC on the Polkadot network.
Maestro (Dapp): A Telegram Bot project that provides DeFi trading functions on the $ETH, $BSC, and $ARB chains, with a 24-hour fee income reaching $100,000, ranking thirteenth among on-chain projects and first in the TG Bot sector.
Post Tech (Dapp): A Web3 social network on Arbitrum, where profiles become assets and interactions convert into profits. The total reward for #1 Epoch is $100,000, which will be distributed to early contributors on the official launch day; the project has high social media and interaction heat expectations ahead of the airdrop.
Friend.Tech (Dapp): Friend.tech has launched a web version, allowing users to access friend.tech in their browsers. Recent updates for Friend.Tech have mainly focused on facilitating transactions, with transaction fees reaching 10%, and accumulated fees exceeding $25 million, offering limited empowerment for Key Holders.
3. Hot Searches
The hottest topics this week (09.18-09.22) include:
FOMC (Event): The Federal Reserve's September FOMC meeting announced a pause in interest rate hikes, maintaining the federal funds rate target range at 5.25%-5.5%. This pause aligns with market expectations, but Powell maintained a hawkish stance during the Q&A, stating that the rate hike cycle is not over, hinting at the possibility of another rate hike by the end of the year (the September dot plot indicates a terminal federal funds rate of 5.6%). Macro researchers believe that the cycle of interest rate cuts in the U.S. will begin in September next year, and the meeting results align with market expectations, leading to a slight pullback in the crypto market.
OP (Token): Optimism officially announced several matters related to the OP token: 1. Optimism has launched the third round of OP airdrops, distributing approximately 19 million OP tokens to over 31,000 addresses; 2. Optimism has opened applications for the third round of retrospective public goods fundraising, allocating 30 million OP tokens; 3. Optimism will sell approximately 116 million OP tokens to 7 buyers. Before the Ethereum Cancun upgrade, there will be good trading opportunities for OP tokens, and the benefits for OP tokens will become more apparent after the upgrade, with the market expected to price in early.
APE (Token): Over 70% of ApeCoin DAO members currently support the AIP-297 proposal to establish a sister DAO and NFT community treasury. The AIP-297 proposal was co-authored by Animoca Brands co-founder Yat Siu in July, aiming to "position ApeCoin as a cultural token to power a broader web3 ecosystem." The proposal suggests a budget of 750,000 APE from the ApeCoin DAO treasury, with 500,000 APE allocated for purchasing NFTs that align with the vision and values of ApeCoin across various markets, and reserving 250,000 APE for future NFT purchases and initial treasury maintenance.
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【Disclaimer】The market has risks, 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. Investing based on this is at your own risk.
