Bitget Research Weekly News: Solana-based assets lead the market, Bitget platform token BGB continues to reach new highs
Focusing on on-chain data, weekly news roundup.Author: Bitget Research Institute
1. Market Trends
The main focus topics in the market this week (12.18 - 12.22) are:
Unisat is about to support Arc 20 assets, with Solana-based assets leading the market.
As ETF reviews approach, BTC returns to $44,000, and the inscription market spreads to various public chains.
Bitcoin Cats trigger on-chain FOMO, and Bitget's platform token BGB continues to reach new highs.
After a brief market correction, there is a strong rebound, with Helium Mobile leading the DePIN sector surge.
The prices of tokens in the inscription sector have generally declined, while Bitget's platform token BGB hits an all-time high.
2. Popular Projects
The hottest projects this week (12.18 - 12.22) are:
TURT (Token): $turt is the platform token of @Turtsat, which is the IDO platform for the BRC 20 inscription project. TurtSat also provides a new token issuance method for the Ordinals ecosystem through a donation agreement, where users lock their receipts after donating, and the tokens are automatically transferred to the user's wallet after block confirmation, thus avoiding GAS wars. This ensures fairness, reduces GAS costs, and provides early revenue for project parties.
MUBI (Token): MUBI is the native protocol token of the cross-chain bridge project Multibit, which connects BRC 20 and ERC 20. With the booming BRC 20 ecosystem, the corresponding speculation has also expanded to Ethereum. Multibit allows users to cross-chain BRC 20 from the Bitcoin network to the Ethereum network to enjoy the corresponding DeFi ecosystem, making it popular among market funds.
BSSB (Token): Bitstable (token BSSB) is a decentralized stablecoin protocol based on the Bitcoin network, with a liquidity pool of $4.78 million on DEX and a total market cap of $50 million. The project has launched a staking feature, allowing users to stake DAII to earn BSSB. The 24-hour trading volume is $11.16 million, and the token is currently under some selling pressure. This innovative sector is worth keeping an eye on.
BIIS (Token): A one-stop BRC ecosystem infrastructure that provides a complete set of tools, including Launch, cross-chain, batch distribution, batch collection, signature distribution, and batch operations for BRC 20/420/721/100, with a market cap of $20 million and a 24-hour trading volume of $1.98 million, showing high popularity.
Bitcoin Cats (Token): Bitcoin Cats is a game project launched on the Bitcoin network, which caused on-chain FOMO during its IDO on BakerySwap yesterday, with subscription amounts oversubscribed by 150 times. The token 1 CAT has opened for trading, with a current total market cap of $35 million, a 24-hour trading volume of $38 million, and a 24-hour price increase of 83%.
BITMAP (NFT): Bitmap.land is the first metaverse project in the Bitcoin ecosystem, built on the foundations of ordinal theory and bitmap theory, currently conducting primary market sales of virtual land.
Pudgy Penguins (NFT): As the best-performing NFT project during last year's NFT bear market, Pudgy Penguins is undoubtedly No. 1. The holders of PP are mostly DeFi OGs or related professionals in the crypto industry, creating a high-quality community of holders. The project continues to develop and promote marketing.
Magic Eden (Dapp): Magic Eden is a user-friendly platform known for its fast processing times, stable security, and various appealing features, making buying and selling simple. For example, Magic Eden works closely with creators through its Launchpad to help them create, mint, market, and successfully launch projects. Magic Eden is a peer-to-peer marketplace based on Solana, designed for trading non-fungible tokens (NFTs).
LaunchBlock (Dapp): The cross-media NFT project Grapes, invested by Animoca, conducted a public sale on the LaunchBlock platform, raising 40,321.7 ETH, approximately $89,478,626.49. GRAPE will be listed on Bitget, KuCoin, and Bybit, with the project launching games, animated series, merchandise, and a series of licensing in May 2023.
Port 3 _aggregator (Dapp): The Port 3 project aims to become a Web3 social data gateway, aggregating Web2 and Web3 data to provide open data services. Port 3's design includes three core modules: data collection, data reading, and data application, to support the aggregation of community dynamics, social media trends, and on-chain transaction data.
3. Hot Searches
The hottest topics this week (12.18 - 12.22) are:
SEI (Token): The V2 version of SEI released in early December focuses on trading functionality, addressing scalability issues of L1 and L2 infrastructure. The "parallel EVM" in V2 can bring significant application scenarios and user volumes. Recently, many public chains have experienced varying degrees of issues such as downtime due to a large number of Txn and junk information generated by inscriptions, leading to speculation about SEI's "parallel EVM" concept.
INJ (Token): Yesterday, Injective's inscription INJS announced the launch of the first inscription market in the Injective ecosystem. However, before minting begins, Injective issued a warning on its official Twitter, urging users not to participate in INJS inscriptions. Injective pointed out that the INJS team is not transparent; they charge fees during the minting process and deposit these fees into unverified wallets.
SOL (Token): Recently, memes, inscriptions, and DePIN on Solana have become the community's wealth codes one after another, with the Solana ecosystem expected to undergo a rebirth, significantly increasing the use cases for Sol. The native token SOL has seen consecutive price increases recently.
The Bitget Research Institute focuses on "focusing on on-chain data and uncovering valuable assets," providing institutional-level insights for crypto enthusiasts by monitoring on-chain data and regional hot searches in real-time. To date, it has provided Bitget's 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's global users through data-driven in-depth research.
【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. Investment based on this is at one's own risk.
