Bitget Research Institute European Central Bank Cuts Interest Rates as Scheduled IONET Trading to Open on June 11th

In the past 24 hours, the market has seen a number of new popular coins and topics emerge, which could potentially be the next wealth-building opportunity.
The European Central Bank has cut interest rates by 25 basis points, possibly signaling the start of a global interest rate cut cycle. BTC spot ETF has seen net inflows for 18 consecutive days, while the altcoin market has been lackluster. Trading activity for meme coins within the Solana ecosystem remains high, with io.net (IO) set to commence trading on June 11th.
The sectors showing strong wealth-building effects are: GameStop concept memes.
Sectors worth focusing on in the future include: TON ecosystem.
Hot search tokens & topics include: Glacier Network, Ultiverse, io.net.
Potential airdrop opportunities include: UXLINK, Movement.
Data statistics as of June 7, 2024, 4:00 (UTC+0)
I. Market Environment
The European Central Bank has cut interest rates for the first time since 2019, by 25 basis points, possibly initiating a global interest rate cut cycle. BTC spot ETF saw net inflows of $218 million yesterday, marking 18 consecutive days of inflows. BlackRock’s IBIT holdings have surpassed 300,000 BTC. After a slight shake-up, BTC has once again surpassed $71,000 today, making another attempt at reaching new highs.
While altcoins have shown mediocre performance, meme coins on the Solana blockchain continue to exhibit strong trading activity. Keith Gill (Roaring Kitty) announced a live stream on YouTube on June 8th, revealing his GME stock and options positions worth $586 million, leading to a surge in GME and KITTY tokens on the Solana blockchain. Additionally, the $40 million funded AI+DePIN project io.net (IO) has disclosed its token economics and is set to commence trading on June 11th.
II. Wealth-Building Sectors
1) Sector with unusual activity: GameStop concept memes
Main reasons:
Retail investor king Roaring Kitty announced a live stream on YouTube on June 8th, leading to significant short-term gains in GME stocks and the corresponding meme tokens. A screenshot on Reddit shows that prominent investor Roaring Kitty disclosed a total value of approximately $586 million for his GME stock and options positions.
Price movements:
GME tokens on Solana saw a +120% increase in the past 24 hours, while KITTY (Roaring Kitty) tokens rose by +240% in the same period. GameStop (GME) tokens on the ETH blockchain also saw a +160% increase in the past 24 hours.
Factors affecting future performance:
The success of Roaring Kitty’s scheduled live stream, as well as the content and impact of the stream, will greatly influence market sentiment. Historically, there have been significant pullbacks following each surge in GameStop concept meme tokens, so investors should exercise caution and avoid chasing highs blindly.
2) Sectors to focus on in the future: TON ecosystem
Main reasons:
The popularity of Notcoin has driven increased activity within the entire TON ecosystem, leading to the emergence of numerous similar projects and enhanced GameFi projects. The TON ecosystem currently has several high-traffic projects yet to be launched: TON ecosystem game Hamster Kombat reported user numbers exceeding 100 million, while Catizen’s user base surpassed 15 million. This has created high expectations in the market for the mass adoption of future TON ecosystem projects, which are expected to bring more users and funds to TON.
Specific token list: TON, NOT, STON, GRAM, FISH
III. User Hot Searches
1) Popular Dapp
Glacier Network:
Glacier Network is building a programmable, modular, and scalable blockchain infrastructure for storing, indexing, and querying data to enhance AI on a large scale. Glacier achieves verifiable computing through GlacierAI, GlacierDB, and GlacierDA. Glacier Network, valued at $100 million, completed $8 million in angel and seed rounds of financing with participation from Foresight X, among others.
2) Twitter
Ultiverse:
Ultiverse is an AI-driven Web3 platform for game creation and publishing, promoting the widespread adoption of AI-enhanced Web3 games. Based on the Bodhi protocol, Ultiverse connects different gaming worlds through generative artificial intelligence. Ultiverse has completed three rounds of financing with a total funding of over $10 million, with investments from prestigious entities such as Binance Labs. Yesterday, Binance Web3 announced that all 15 million ULTI rewards for the Binance Web3 Wallet activity with Ultiverse have been distributed, and eligible participants can check their wallets.
3) Google Search Region
Looking at global trends:
IO.Net: Yesterday, Binance Launchpool announced the launch of io.net (IO), where users can mine IO by staking BNB and FDUSD. Mining began at 8:00 on June 7th, Beijing time, generating significant attention on Twitter and within the community. The project is a decentralized computing network that supports the development, execution, and scaling of ML applications on the Solana blockchain, combining 1 million GPUs to form the world’s largest GPU cluster, along with DePIN.io.net aggregating resources from underutilized sources.
Regional hot searches:
(1) In English-speaking regions, there is considerable interest in Bitstamp, mainly due to Robinhood’s announcement of acquiring the cryptocurrency exchange for $200 million to expand beyond the US. The acquisition is expected to be completed in the first half of 2025, attracting significant attention.
(2) In Europe and America, attention is focused on fundamental projects, particularly RWA, DePIN, and POW public chains, with hot search projects including Etherfi, Floki, and Boden.
(3) In the CIS region, there is interest in TON ecosystem and AI projects, with assets like NOT Coin and ARKM appearing in yesterday’s Google hot searches.
IV. Potential Airdrop Opportunities
UXLINK:
UXLINK is a groundbreaking web3 social system designed for mass adoption, allowing users to build social assets and trade cryptocurrencies. It includes a series of highly modular Dapps that seamlessly integrate into Telegram, ranging from beginner to graphical form, group tools to social trading.
UXLINK recently announced funding led by SevenX Ventures, Ince Capital, and HashKey Capital, raising a total of $15 million.
Specific participation method: The Web3 social infrastructure project UXLINK is issuing the “IN UXLINK WE TRUST” series of NFTs as airdrop certificates. Based on users’ community contributions, on-chain interactions, and asset holdings, participants are categorized into “MOON”, “TRUST”, “FRENS”, and “LINK”, each corresponding to different rights and amounts of UXLINK tokens for airdrop.
Movement:
Blockchain development team Movement Labs was established in 2022 and completed a $3.4 million seed round of financing in September 2023. In addition to its flagship product Movement L2, Movement Labs will launch Move Stack, an execution layer framework compatible with rollup frameworks like Optimism, Polygon, and Arbitrum.
Recently, Movement Labs completed a $38 million Series A financing round, with Polychain Capital leading the investment and participation from numerous prominent institutions such as Hack VC, Foresight Ventures, and Placeholder.
Specific participation method: Visit the Movement zealy task interface (note: social tasks have time periods and continuously updated tasks) to engage in DEX interactions, conduct a few test interactions, and await further actions on the official website.
For more information from Bitget Research Institute: https://www.bitget.fit/en-US/research
Bitget Research Institute focuses on “Focusing on on-chain data, mining valuable assets”, providing institutional-grade insights for enthusiasts of the crypto world by monitoring on-chain data and regional hot searches in real-time to discover cutting-edge value investments. To date, it has provided early-stage value assets in popular sectors such as the Arbitrum ecosystem, AI ecosystem, and SHIB ecosystem for Bitget’s global users, creating a more high-quality wealth effect through data-driven in-depth research.
【Disclaimer】The market carries risks, and investments should be made cautiously. This article does not constitute investment advice, and users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their specific circumstances. Investing based on this information is at the user’s own risk.