Bitget Research Weekly News: BRC20 Sector Continues to Perform Strongly, BGB Surges Against the Trend to Break Historical Highs

Source: Bitget Research Institute

In the past week (11.13-11.17), the market has seen several new popular coins and topics.

1. Market Trends

The most focused topics in the market this week (11.13-11.17) are:

• Bitcoin rebounded after falling below 36,000, Polygon inscriptions surged causing Gas prices to spike.
• Bitcoin's V-shaped rebound approached 38,000, with the probability of the Federal Reserve keeping interest rates unchanged in December rising to 94.5%.
• USDT total market capitalization surpassed 87 billion dollars, reaching a new high, while the BRC-20 sector remained strong.
• The market corrected as it awaited CPI data, with BGB surging against the trend, breaking historical highs.
• ETH ecosystem projects rebounded significantly, and the BRC-20 sector remained active.

2. Popular Projects

The hottest projects this week (11.13-11.17) are:

SATS (Token): Currently the most actively traded BRC-20 token, with an on-chain trading volume of about 5.2 million dollars in the last 24 hours, currently down over 10%, and has been listed on multiple centralized exchanges.

RATS (Token): A meme-type token representing mice in the BRC-20 track, influenced by recent influxes of funds into the sector, this token has seen a surge in on-chain trading volume, with a 24-hour trading volume of 96 BTC (about 1.56 million dollars), becoming the second-largest trading volume token in the BRC-20 sector, with a market capitalization of 49 million dollars.

GROK (Token): GROK is a meme token named after the AI model GROK launched by Elon Musk's company XAI. Currently, it is experiencing high speculative interest on-chain. Despite some recent FUD comments, the project team confidently burned tokens worth nearly 3 million dollars, and the price has rebounded significantly in the past two days, once increasing by 60%, with a current market capitalization of 66 million dollars.

MUBI (Token): A relatively popular project recently, primarily focusing on cross-chain transactions between BRC-20 and ERC-20 tokens. The project conducted an IDO on Bounce and received official comments from DWF Labs. Given the current popularity of BRC-20 tokens, the project's entry point is quite precise. The project's contract has been open-sourced, with a trading volume of about 13 million dollars in the last 24 hours and a market capitalization of 14 million dollars, recommended for continued attention.

Azuki (NFT): Current blue-chip NFT projects like CryptoPunks, BAYC, Pudgy Penguins, and Azuki have all seen some degree of rebound. As the market improves, coupled with the rise of ETH, the USDT value of NFTs has increased, and market players' enthusiasm for NFTs is gradually reviving.

The Captainz (NFT): The NFT from Memeland has seen a surge in trading volume with the rise of the $MEME token price. Memeland stated on social media that it has never had a roadmap but has been continuously improving and updating its strategic direction. The following five goals represent the focus of the next stage of development: products, events, NFTs, integration, and SWAG.

Circle (Dapp): Circle has begun discussions with advisors, considering an IPO early next year. Due to the continuous shrinking market share of its main product, the USDC stablecoin, which has dropped to less than 19%, far below the level when the company withdrew its public listing last December, it faces significant challenges for the IPO. Today, it announced a strategic investment in Sei Network to support the launch of native USDC on that network.

Maestro (Dapp): Maestro, a well-known on-chain bot, is favored by users in the crypto community. Maestro has a first-mover advantage and a solid user base. Currently, Maestro's daily transaction fees have grown to previous highs, reaching 150,000 to 200,000 dollars, maintaining its position at the top of the bot sector.

Dmail (Dapp): Dmail is an email application based on Web 3.0 and Dfinity technology, integrating NFT functionality and distributed storage, with each account itself being an NFT. This project aims to eliminate the differences between traditional email systems and blockchain-based email systems, thereby lowering the barriers for users and developers to participate in the crypto world. Dmail's design philosophy is to make the use of blockchain technology as simple and intuitive as the internet.

3. Hot Searches

The hottest topics this week (11.13-11.17) are:

AVAX (Token): Avalanche's Twitter announced a partnership with JPMorgan, specifically between JPMorgan's digital asset platform Onyx and alternative asset management company Apollo. Their collaboration will utilize the full-chain interoperability protocol LayerZero to connect Onyx with the licensed Avalanche Evergreen subnet, facilitating funding subscriptions and redemptions provided by tokenized asset application Wisdom Tree Prime. The price of AVAX token surged nearly 50% in the past three days.

XRP (Token): According to Bloomberg, a registration document for the "iShares XRP Trust" allegedly submitted by asset management giant BlackRock appeared on the official Delaware state website, attracting market attention. XRP briefly rose nearly 13% after the news spread. However, a spokesperson for BlackRock clarified that the document is false and unrelated to BlackRock. According to bitget market data, it is currently priced at 0.66, having essentially given back all its gains.

KAS (Token): Kaspa has become the second-largest hash power network after BTC, accumulating a 1920% increase over the past year, continuously setting new highs. Yesterday, Binance launched KAS contracts, with a total on-chain trading volume of 240 million dollars in the last 24 hours and a market capitalization of 2.85 billion dollars.

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