Bitget Research Institute Weekly News: ETH ecosystem starts to rebound, Metis network TVL surpasses BASE

Author: Bitget Research Institute

In the past week (12.25-12.29), the market has seen several new popular coins and topics.

1. Market Trends

The most focused topics in the market this week (12.25-12.29) are:

• IDO concept coins have significantly corrected, Metis network TVL surpasses BASE

• The ETH ecosystem begins to rebound, OP reaches a new all-time high

• Metis TVL climbs to $600 million, overall crypto market experiences a phase correction

• The inscription market rebounds sharply after a correction, Solana Meme trading is hot

• Cancun upgrade enters testing phase, funds flow back to the Ethereum ecosystem

2. Popular Projects

The hottest projects this week (12.25-12.29) are:

SAIX (Token): Saiyan inscription, primarily a project combining gamefi and socialfi. Total supply of 160,000, mainly used for upgrading characters, unlocking features, and participating in the XSaiyan ecosystem. Saiyan warriors earn rGOKU through gaming activities, which can then be converted to SAIX. Recent trading activity is high, recommended for attention.

BNB (Token): Due to strong demand for launchpads, BNB price has risen rapidly. Currently, BNB's total market cap of approximately $51.28 billion has surpassed SOL (approximately $45.19 billion), returning to fourth place in the cryptocurrency market cap rankings.

RATS (Token): BRC 20 track tokens ORDI and SATS have seen a significant decline in on-chain trading volume after being listed on top exchanges. Currently, RATS maintains the highest on-chain trading volume, with $1 million traded in the past 24 hours, and a 47% increase over the past 14 days, remaining active.

Gh 0 stly Gh 0 sts (NFT): Gh 0 stly Gh 0 sts is the first Omnichain NFT developed using LayerZero technology. After the project token $BOO TGE, the official Twitter announced that no snapshot for the NFT has been taken yet, implying potential airdrops for the NFT. However, the token's market cap has dropped from a peak of $8 million to $1 million, raising concerns about the sustainability of the hype.

xpet santa hat (NFT): An NFT issued from an event co-hosted by xpet and okx nft, designed for pet Christmas hats. XPET is a socialfi + gamefi project on the Arbitrum chain, requiring players to feed, accompany pets, and ensure their survival to help players earn token rewards.

xPet.tech (Dapp): XPET is a socialfi + gamefi project on the Arbitrum chain, requiring players to feed, accompany pets, and ensure their survival to help players earn token rewards. Recently, xpet released PvE gameplay, increasing the consumption of $BPET. The prices of XPET and BPET continue to rise to new highs, and the project's user and trading data have rapidly grown in the past few days.

Manta Pacific (Dapp): Manta, as a recently favored Layer 2, has launched a deposit to obtain NFT project, which is widely regarded by players as a potential airdrop certificate, attracting many addresses to participate.

MUBI (Dapp): MUBI is the native protocol token of the BRC 20-ERC 20 cross-chain bridge project Multibit. With the booming BRC 20 ecosystem, the corresponding hype 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. Due to this unique feature, it has attracted market funds and speculation. The token has been launched, and there is a wealth effect, making it worth continuous attention.

Sleepless AI (Dapp): This project is the first AI + Crypto project to land on Binance Launchpool. The project generates attractive chat partners through AI, allowing users to chat with AI boyfriends and girlfriends.

3. Hot Searches

The hottest topics this week (12.25-12.29) are:

METIS (Token): Metis Andromeda network TVL reaches $695 million, with a 7-day increase of 560%, rising to third place in Ethereum Layer 2 network TVL rankings, with less than $1 million difference from the third-ranked Base network TVL ($696 million). A total of 4.6 million METIS will be used to promote project deployment, product development, and builder rewards within the ecosystem. The token price has quadrupled in half a month, showing high interest.

SEI (Token): The market has begun to refocus on Parallelized EVM public chains, with SEI being one of the representative public chains. Breaking through the sequential execution of ETH, efficient scaling and low latency are the core narratives for the next round of EVM public chains. Currently, many assets have shown signs of bottom recovery, and funds are steadily entering the market. Many leading figures in the crypto industry have begun to express optimism and outlook for parallelized EVM in 2024.

Avalanche (Dapp): The foundation has updated the Culture Catalyst program, which aims to empower creators, inspire innovation, and promote blockchain adoption. Starting today, the plan will use Culture Catalyst to collect selected Meme coins based on Avalanche to recognize and encourage the culture represented by Meme coins.

The Bitget Research Institute focuses on "focusing on on-chain data, mining valuable assets," providing institutional-level insights for crypto enthusiasts by real-time monitoring of on-chain data and regional hot searches to uncover cutting-edge value investments. To date, it has provided Bitget global users with early valuable assets in several popular sectors such as [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 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.