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. Among them:
The sectors with relatively strong wealth-building effects are: TON ecosystem, AI sector.
User hot search tokens & topics include: CARV, ZKsync, BGB, Velodrome.
Potential airdrop opportunities include: Magic Eden Wallet, RedStone.
Data statistics time: June 18, 2024, 4:00 (UTC+0)
I. Market Environment
In the past 24 hours, the overall crypto market has experienced a decline, with altcoins seeing a significant pullback, while BTC and ETH are under pressure, with BTC hitting a low of $65,500 before rebounding. In terms of contract data, BTC’s contract rates have turned negative, indicating poor market liquidity, which could lead to continued weakness in the future. Recent coin releases from ZK and Layerzero have caused a shortage in stablecoin demand, directly impacting market liquidity.
Looking at external markets, led by heavyweight tech stocks like Microsoft and Apple, the US Nasdaq index has hit a new high. The wealth effect in the US capital markets has not translated to European stock markets or the crypto market, but rather created a “vampire” effect. It will be important to continue monitoring the relationship between Nasdaq and BTC. If the correlation turns positive but Nasdaq starts to decline, it could have a significant impact on the crypto market.
II. Wealth-building Sectors
1) Sector Focus: TON Ecosystem (TON)
Main reasons:
Continuous inflow of funds: After Pantera’s direct investment in the TON ecosystem, the price of TON has been on the rise, with funds continuing to flow in.
Good performance of ecosystem projects: NOT, a game project within the TON ecosystem, has shown strong performance recently, attracting market attention to the TON ecosystem.
Price increase: TON has seen a 8.5% increase in the past 7 days.
Factors affecting future markets:
Trading activity in the future: Currently, one of the major drawbacks of the TON ecosystem is the lower trading activity compared to other public chains, with trading volume not at the same level. If TON can launch popular MEME coins, it could stimulate trading activity among users, leading to further price and liquidity increases.
Future support from Pantera for the TON ecosystem: Pantera Capital founder Dan Morehead mentioned on social media that Pantera recently made its largest investment ever in Telegram’s TON blockchain project, increasing attention to the TON ecosystem. If the project’s funding and product launches are timely and successful, the prosperity of the TON ecosystem could come sooner.
2) Sectors to watch closely: AI Sector
Main reasons:
Binance recently announced its support for FET, AGIX, OCEAN merging into ASI, sparking discussions in Europe and the US, with high community interest.
Arweave AO has announced the launch of AO tokens, where users holding AR can receive AO, the distribution of which is fair, focusing on data layer business.
Specific list of tokens:
TAO: Bittensor is an open-source protocol that supports blockchain-based machine learning networks. Users are rewarded in TAO for collaborative training of machine learning models and providing valuable information collectively.
NEAR: Many AI projects in the NEAR ecosystem are in the build/funding stage, aiming to establish itself as a future AI hub.
ASI: The merged token of FET, AGIX, and OCEAN, with the potential for significant volatility post-merger, providing speculative opportunities.
AR: Arweave’s new token AO is set to be released, backed by strong technical fundamentals and a promising track record.
III. User Hot Searches
1) Popular Dapps
CARV:
CARV is a gaming-focused ID infrastructure that aims to establish user-owned gaming identities for achievement display, friend and game discovery, direct monetization, and portability. The Dapp saw over 610,000 active wallets yesterday. The project has been active recently: on April 26, CARV announced the completion of a $10 million Series A financing round; on May 31, Animoca Brands announced a strategic investment in CARV and became its node operator.
2) Twitter
ZKsync (ZK):
ZKsync opened its airdrop application and was listed on major exchanges yesterday, with the token price stabilizing around $2.5, later dropping to $2 amid a market downturn. Based on the current price of ZK at $0.21, ZKsync’s fully circulating market value is $4.4 billion, while Starknet’s value is $7.4 billion.
Bitget (BGB):
Bitget recently launched a high-yield financial management user activity, providing stablecoin financial management with high interest rates in the current market downturn, gaining community and user approval. The activity has been heavily promoted in the community. Currently, Bitget’s stablecoin financial management can achieve an annualized yield of over 10%.
3) Google Search by Region
VELO (Velodrome):
US Congressman Michael A. Collins’ asset trading report shows that he conducted a Velodrome asset transaction worth $1,001 – $15,000 on May 17, 2024, sparking widespread market discussion upon the release of the document.
Looking at hot searches in various regions:
(1) In addition to the attention on the ZK airdrop, Asia was influenced by market rumors about FTX debt repayment or restart, with LUNC and FTX appearing on the hot search lists in Malaysia and Singapore; the top search term in Korea yesterday was “a16z crypto”.
(2) The differences in hot searches between Europe and the US are significant: Velodrome appeared on the hot searches in the US, Canada, Poland, the Netherlands, while DePIN and AI remain the top two sectors of interest for European and American users, with FET and grass consistently appearing on hot lists in multiple European and American countries.
IV. Potential Airdrop Opportunities
Magic Eden Wallet
Magic Eden is a well-known NFT marketplace, with heavyweight VC investments from Coinbase, Paradigm, Solana, among others. Magic Eden recently tweeted that the token claiming product in the wallet will be launched later in the third quarter.
Magic Eden Wallet is the mobile app of Magic Eden. In addition to acquiring “diamond” points by trading NFTs, Magic Eden will release a test link for Magic Eden Mobile Wallet on its official Twitter for users to test, potentially offering a way to participate in airdrops.
How to participate: (1) Follow Magic Eden Wallet’s Twitter account (https://x.com/MagicEdenWallet) and set notifications; (2) When the account posts a test invitation link, quickly click to use and test the app, as only a few thousand spots are available each time.
RedStone
RedStone is a cross-chain oracle project, offering modularized oracles for L1 and L2 dApps and smart contracts on multiple chains, providing frequent updates, reliable, and diversified data sources. The market expects the project to launch its token in the second half of 2024.
In 2022, RedStone completed a $7 million seed funding round led by Lemniscap, with investments from Coinbase Ventures, Blockchain Capital, Distributed Global, Lattice, Arweave, Bering Waters, Maven 11, and SevenX Ventures. In 2023, Aave founder and Polygon co-founder invested in the project in the angel round.
How to participate: (1) Acquire RSG points by participating in online activities and tasks released by RedStone and its partners. (2) Create content and participate in designated activities on RedStone’s Discord server (such as weekly best content or hall of fame) to earn RSG points.
Original Article Link:
https://www.bitget.com/zh-CN/research/articles/12560603811408
【Disclaimer】The market is risky, investment should be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investing based on this information is at your own risk.
