In the past 24 hours, the market has seen a number of new popular currencies and topics emerge, which could potentially be the next wealth-building opportunity, including:
Strong wealth-building sectors: ETH ecosystem projects, Curve-related tokens;
User hot search tokens & topics: Banana Gun, CVX, Kiloex, Monad;
Potential airdrop opportunities: Kiloex, Zircuit;
Data statistics timestamp: June 17, 2024, 4:00 (UTC+0)
I. Market Environment
BTC spot ETF saw net outflows on 4 out of 5 working days last week, with the overall market showing a slight decline and altcoins performing poorly. However, the ETH/BTC exchange rate remains relatively strong, with ETH ecosystem projects showing strong performance over the past week, and there is some expectation in the market for the launch of an “ETH spot ETF in July”.
ZKsync (ZK) will be launched on major exchanges for trading at 8:00 (UTC), which is 16:00 (UTC+8) today, while LayerZero announced the airdrop allocation rules and a preliminary witch list over the weekend.
II. Wealth-Building Sectors
1) Focus on future sectors: ETH ecosystem projects
Main reasons:
Despite the overall market decline, the ETH/BTC exchange rate has been relatively strong over the past week;
Bloomberg ETF analysts tweeted that the launch date of the Ethereum spot ETF may be moved up to July 2;
In contrast to the general decline in altcoins over the past week, well-known ETH ecosystem projects such as ENS, UNI, and LDO have risen against the trend;
Specific coin list: ETH, ENS, UNI, LDO, RPL, PENDLE
2) Sector dynamics: Curve-related tokens (CRV, CVX)
Main reasons:
Several CRV lending positions of Curve founder were liquidated, leading to a short-term plunge in CRV, followed by a rebound. With the statement from the Curve founder: “I have fully repaid the $10 million CRV liquidation losses on the Curve lending platform”, CRV continued to rebound strongly, while Convex Finance is Curve’s yield optimizer, following the pace of CRV’s rebound, CVX surged over 90% in the past 24 hours.
Upside situation:
After a significant drop, CRV rebounded by 26%, but still down by 25% in the past month; CVX broke through $4, with a 90% increase in the past 24 hours.
Factors affecting future market:
Curve is currently one of the best places for stablecoin bulk trading, still maintaining a good real profit margin, but its biggest problem is the outdated narrative that lacks exciting new products or operations to excite the market. The previous incidents and the recent liquidation downturn are also causing market concerns. However, several large whales have previously bought CRV at prices above $0.3, indicating that the current price of CRV still has some attractiveness.
III. User Hot Searches
1) Popular Dapp
Banana Gun
Banana Gun Bot is a well-known Telegram trading bot that allows users to quickly engage in DeFi trading and token pre-sale grabs through the Telegram platform. One key advantage of Banana Gun is its revenue-sharing model. Users holding Banana tokens can share the income generated by the bot, including 40% of the bot’s recommended income and 50% of the tax revenue generated by trading through the bot. Recently, Banana Gun announced its data performance, with user and trading volume steadily increasing, and plans to expand to the popular Berachain public chain.
2) Twitter
KiloEx
KiloEx is a decentralized exchange focused on providing user-friendly perpetual contract trading. The platform features fast trading, real-time market monitoring, a trading experience similar to centralized exchanges, a wide range of trading pairs, hedging tools, and decentralized copy trading functionality. KiloEx’s recent important news is receiving investment from Binance Labs, becoming part of the MBV program’s sixth season. KiloEx has also launched an airdrop activity where users can earn points by connecting wallets, inviting friends, and participating in trades to receive airdrop rewards.
3) Google Search by Region
From a global perspective:
CVX: Recently, there was significant fluctuation in CRV due to the liquidation of Curve founder Egorov’s borrowing position, causing interest in Convex Finance as a yield optimizer for Curve.
By region hot searches:
(1) In the Asian region, RWA Crypto stands out, with the crypto market focusing on stable income RWA projects due to the rising US dollar and reduced interest rate expectations.
(2) In Europe and America, attention is on recent popular tokens and projects, including Notcoin, Monad, TON, among others.
IV. Potential Airdrop Opportunities
Kiloex
A derivatives DEX that has received investments from Binance Labs, Foresight Ventures, 7upDAO, etc., currently supporting opBNB, Manta, BNB on three chains. Users can earn points by trading derivatives, converting USDT into kUSDT for investment, depositing STONE, and more.
Specific participation methods: 1) Trade in the derivatives market, where each $1000 traded will earn you 35 points; 2) Opt for opBNB or Manta chains for trading as the fees are lower than on the BNB chain; 3) Note that there is a premium on kUSD, so be cautious when redeeming if the price drops.
Zircuit
Zircuit is a Layer 2 public chain project based on zkRollup integrated with parallelism and AI, backed by investments from Pantera and Dragonfly, with a TVL of over $1.1 billion. Zircuit’s ecosystem is gradually improving, including staking, cross-chain bridges, and browser functions. Users can qualify for airdrops by participating in ecosystem building and community interaction.
Specific participation methods: 1) Participate in staking to earn points; 2) Deploy nodes to earn points.
Original article link:
https://www.bitget.com/en-us/research/articles/12560603811325
[Disclaimer] The market carries risks, and investment should be cautious. This article does not constitute investment advice. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investment is at your own risk.
