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VIPBitget VIP Weekly Research InsightsThe Solana ecosystem has demonstrated exceptional performance this year. The 24-hour trading volume on Solana's DEXs often exceeds that of Ethereum, and the SOL/ETH exchange rate has consistently increased. Coinbase's recent Q3 earnings report disclosed that SOL now constitutes 11% of its trading revenue, underscoring users' strong interest in trading SOL. During this market cycle, holding SOL positions can be beneficial. Furthermore, holding SOL-based LSTs enables you to earn annualised returns denominated in SOL. Bitget has collaborated with Solayer, Orca, Save, and Kamino to launch BGSOL, and will strive to expand BGSOL's applications. With support from Bitget, BGSOL currently offers the highest APR among SOL-based LSTs.
VIPBitget VIP Weekly Research InsightsThe concept of AI agents has recently gained significant traction in the crypto space, particularly with AI agent memecoins. Moving beyond theoretical ideas, AI agents are now being applied across various fields, including the autonomous execution of transactions on the blockchain, complex analytics, and even automating everyday tasks. Overall, the AI agent trend in crypto demonstrates considerable growth potential and technological innovation. However, investors and tech enthusiasts are advised to balance enthusiasm with rational assessment, focusing on genuine progress and practical applications of these projects. This article recommends two projects, VIRTUAL and OLAS, both showcasing substantial advancements and real-world use cases with strong market support.
VIPBitget VIP Weekly Research InsightsMemecoins have been gaining traction in the current market cycle, consistently drawing attention and capital. Established projects are now backing Pump.fun, a token launch platform, leveraging their brand and community resources to issue memecoins, engaging new users, and unlocking fresh capital for business growth. Fueled by the memecoin buzz, ApeChain's APE token surged by over 100% in a single day, reaching a three-month high. Additionally, Yuga Labs' NFT collections have seen a long-awaited recovery. Recently, major platforms and wallets have also begun actively supporting ApeChain. As a leading team from the NFT era, ApeChain shows strong development potential.
VIPBitget VIP Weekly Research InsightsRecently, as market liquidity recovers, the crypto market—led by key assets like BTC and ETH—has started to rebound. Leading DeFi assets have continued to update their products amid six months of market volatility, maintaining their market dominance and leading positions. With the upcoming U.S. presidential election, both candidates are likely to propose favorable policies regarding DeFi and Web3 applications, potentially bolstering the sector. As a result, leading DeFi assets are expected to benefit from an early boost in liquidity recovery and may outperform the broader market in the coming months.
VIPBitget VIP Weekly Research InsightsIn the wake of the market narrative surrounding the "Solana Killer," SUI, which recently launched the Grayscale Sui Trust and Binance futures, has doubled in value within a month. The leading projects in the Sui ecosystem have also benefited from the generous subsidies and strong support provided by the Sui Foundation. This surge has brought numerous opportunities within the Sui ecosystem.
VIPBitget VIP Weekly Research InsightsAs the Federal Reserve initiates its interest rate cut cycle, the cryptocurrency market is witnessing a widespread recovery. In addition to mainstream assets such as BTC and ETH, the AI sector has also bounced back swiftly. The intersection of AI and crypto has become a captivating narrative in this market cycle, drawing the attention of numerous tech teams and venture capital firms. Leading projects in this domain have demonstrated substantial growth. Recommended projects to monitor closely include Bittensor (TAO), Near Protocol (NEAR), and Arkham (ARKM).
VIPBitget VIP Weekly Research InsightsLiquid staking emerged after Ethereum transitioned from a proof-of-work to a proof-of-stake mechanism. Its primary goal is to enhance asset utility by allowing users to earn staking rewards while maintaining the liquidity of their staked positions. Currently, mainstream liquid staking protocols allow users to stake their assets in exchange for liquid staking tokens (LSTs). For instance, by staking ETH on platforms such as Lido, users receive stETH tokens. This approach is commonly referred to as "liquid staking derivatives" (LSDs). Since Binance hinted at collaborating with Sanctum to launch the Solana liquid staking token BNSOL, Sanctum's governance token CLOUD has gained significant attention, rising despite unfavorable market trends. On September 5, Bybit announced its partnership with Solayer to launch bbSOL. Additionally, major exchanges have unveiled plans to introduce Solana LST tokens. EigenLayer also began its second season of airdrop claims this week, with its governance token EIGEN potentially circulating by the end of September. The LSD and restaking sectors are gaining quiet momentum, potentially setting the stage for a new wave of hype around restaking within the SOL ecosystem.
VIPBitget VIP Weekly Research InsightsThis week, the US will release initial claims for unemployment insurance and the unemployment rate, which are key factors influencing the Federal Reserve's decision on interest rate cuts in September. The market has been sluggish recently, with noticeable risk-averse sentiment. Bearish sentiment among community users and the arrest of Telecom's CEO, a black swan event, have further dampened the mood, resulting in average performance for blue-chip coins and altcoins. The market tends to fluctuate significantly when macroeconomic data is about to be released. It is reasonable to reduce leverage, maintain reasonable position sizes, and preserve funds to buy the dip. We will introduce upcoming token launches on Bitget, on-chain earning opportunities with USDT/USDC and SOL, and speculative targets in the Solana Liquid Staking (LSD) sector.
VIPBitget VIP Weekly Research InsightsOn 12 August, the TRON ecosystem DEX, SUN.io, launched Sun Pump, the ecosystem's first memecoin issuance platform. Its aim is to provide creators with a convenient and cost-effective token issuance solution. As of 21 August, Sun Pump has surpassed pump.fun in revenue and the number of new tokens issued. Some Meme coins issued on Sun Pump have demonstrated astonishing performance. For instance, SUNDOG increased by 10,156 times within 5 days and 8 hours of its creation, and FOFAR increased by 6176 times in 4 days and 6 hours. These skyrocketing memecoins have attracted significant attention from investors.
VIPBitget VIP Weekly Research InsightsSince Q2 2024, despite the overall decline in the cryptocurrency market, one ecosystem has bucked the trend and delivered exceptional returns—the TON ecosystem. The price of TON has surged by over 3.5x since the beginning of the year and is currently fluctuating around $7, near its all-time high. Backed by Telegram's nearly 1 billion users, the TON ecosystem has developed a range of unique applications that have recently become a focal point within the community.
- 10:00Analysis: The Correlation Between Bitcoin and US Stocks Continues to Weaken, Gold May Become a Leading Indicator for BTCCryptoQuant analyst Timo Oinonen released a report stating that the most important current trend for Bitcoin is its decoupling from US stock indexes. Over the past seven days, Bitcoin has significantly diverged from the S&P 500 and the Nasdaq Composite Index, with its correlation to traditional stocks and tech stocks weakening. The correlation coefficient between Bitcoin and the S&P 500 has decreased from 0.88 at the end of 2024 to 0.77, and its correlation with the Nasdaq has also dropped from 0.91 in January to 0.83. Notably, the correlation between Bitcoin and gold is strengthening, with the coefficient rising from -0.62 at the beginning of the month to the current -0.31. Historically, Bitcoin has often lagged behind gold's performance by several months. If the current decoupling trend from stock indexes continues, with other conditions remaining unchanged, gold may become a leading indicator for Bitcoin.
- 10:00Suspected Sale of 100 WBTC to Take Profit by a Cyclical Long Position WBTC Whale 40 Minutes Ago, Equivalent to $9.19 MillionAccording to on-chain analyst Ai Yi's monitoring, "the whale that has been in a cyclical long position on WBTC at an average price of $69,079 since July 2024" is suspected to have sold 100 WBTC to take partial profit 40 minutes ago, equivalent to $9.19 million. Currently, the whale still has 1,053.79 WBTC (approximately $97.36 million) as collateral and has borrowed 43.68 million USDT, with the remaining portion still having a floating profit of $24.47 million.
- 09:49Kuwait Issues Warning Against Illegal Cryptocurrency MiningAccording to Bitcoin.com, on April 22, the Kuwaiti Ministry of Interior issued a statement declaring cryptocurrency mining an illegal activity, citing violations of several national laws and pressure on the country's power infrastructure. The ban involves the 1970 Amendment No. 31 to the Criminal Law, the 2014 Regulation of Communications and Information Technology Law No. 37, the 1996 Industrial Law No. 56, and the 2016 Municipal Regulations No. 33, among other laws. The Kuwaiti Ministry of Interior pointed out that unauthorized cryptocurrency mining leads to "excessive energy consumption, increasing the load on the public power grid," which causes power outages in residential, commercial, and industrial areas and affects essential service supplies. The warning was jointly issued by the Ministry of Electricity, Water and Renewable Energy, the Communications and Information Technology Regulatory Authority, the Public Authority for Industry, and the Municipal Department. Authorities have requested involved mining entities to "rectify immediately" and emphasized that legal actions, including referral to investigative departments, will be taken against violators.