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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 begins its interest rate cut cycle, the cryptocurrency market is experiencing a broad recovery. Alongside mainstream assets like BTC and ETH, the AI sector has also rebounded rapidly. The convergence of AI and crypto has emerged as a compelling narrative in this market cycle, attracting numerous tech teams and venture capital firms. Leading projects in the space have shown significant growth. Recommended projects to watch 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 InsightsUS initial claims for unemployment insurance and the unemployment rate are being released this week, 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 August 12, the TRON ecosystem DEX, SUN.io, launched Sun Pump, the ecosystem's first memecoin issuance platform. Its goal is to provide creators with a convenient and cost-effective token issuance solution. As of August 21, Sun Pump has surpassed pump.fun in revenue and the number of new tokens issued. Some Meme coins issued on Sun Pump have shown astonishing performance. For example, 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.
VIPBitget VIP Weekly Research InsightsThe uncertainty surrounding macroeconomic conditions and market reactions makes it challenging to predict short-term and mid-term market trends, with both black-swan and white-swan events possible at any time. Therefore, a rational approach would be to maintain a balanced position and reserve funds for potential dip-buying opportunities. In our last issue, we recommended several passive income products on Bitget. Now, we will introduce additional products based on USDT/USDC, BTC, and SOL, available both on Bitget and their respective blockchains. (While ETH-related LST and restaking projects have shown the highest potential returns lately, they are not included in our recommendations this time due to the high uncertainty of LST projects and their lack of flexibility in unstaking.)
VIPBitget VIP Weekly Research InsightsAs global market risks intensified this week, crypto assets across sectors experienced significant corrections and poor performance. Passive income products from centralized exchanges can offer low-risk returns despite market volatility by utilizing diversified portfolios to mitigate downside risks. This week, we recommend Bitget Earn's passive income products for our key clients.
- 03:35Top 5 increase today: LUCE 24-hour increase of 148.70%Bitget market data, today's top 5 tokens in terms of increase are LUCE, ORBK, GRPH, BLASTUP, EMT. Specifically: LUCE has increased by 148.70% in the last 24 hours and is currently priced at $0.04974; ORBK has increased by 51.76% in the last 24 hours and is currently priced at $0.00129; GRPH has increased by 25.81% in the last 24 hours and is currently priced at $0.0078; BLASTUP has increased by 23.89% in the last 24 hours and is currently priced at $0.01976; EMT has increased by 23.63% in the last 24 hours and is currently priced at $0.01821.
- 03:28Data: Two whales/institutions withdrew nearly 9 million dollars worth of ENA from CEX 8 hours agoAccording to on-chain data analyst Yu Jing's monitoring, two whale/institutional addresses withdrew ENA worth 8.98 million USD from CEX 8 hours ago, of which: ARCA withdrew 13.518 million ENA (equivalent to about 5 million USD) The address starting with 0xc04 withdrew 10.74 million ENA (equivalent to about 3.98 million USD)
- 03:25U.S. stocks plummeted, Bitcoin rose nearly 10% in October, the market is focusing on tonight's non-farm payroll data for OctoberAccording to monitoring, U.S. stocks opened lower on Thursday local time and the decline widened, with tech stocks, semiconductor stocks, and AI concept stocks collectively falling. Despite the "Big Seven Tech" companies showing excellent revenue and profits, the market was disappointed with their performance guidance considering the current stock price and valuation levels, leading to a sharp decline across the board. The Nasdaq fell by 2.76%, marking the biggest drop in nearly two months and ending October down 0.52%, breaking two months of consecutive gains; the Dow closed down 0.90%, with a cumulative decline of 1.34% in October, halting five months of consecutive gains; the S&P 500 fell 1.86%, ending October down 0.99%, also breaking five months of consecutive gains. The crypto market collectively plummeted under the influence of the U.S. stock market. As of the time of writing, Bitcoin fell below the $70,000 mark, trading at $69,851, down 3.18%, after gaining nearly 10% in October due to intensifying Trump trades. Ethereum fell 5.1%, trading at $2,516, with a cumulative decline of 4.28% in October. The U.S. Dollar Index fell below 104 on Thursday, closing down 0.2%, but accumulated about a 3.1% rise in October. Dovish comments from the Bank of Japan weakened, leading the Japanese yen to rise 1%, with a cumulative increase of 5.86% in October. Inflation in the Eurozone in October accelerated more than expected, strengthening the European Central Bank's reason to be cautious about cutting rates, with the euro strengthening by 0.26%, although it fell 2.25% for the month. The British pound against the U.S. dollar fell 0.51%, with a cumulative drop of 3.55% in October. International crude oil prices continued to rise due to the potential escalation of tensions in the Middle East, with WTI crude oil at one point rising over 2%, and Brent crude closing up 1.87%, accumulating about a 2.38% rise in October. Safe-haven demand ahead of the U.S. presidential election drove gold prices to continuously reach new highs for four consecutive months, with spot gold gaining about 4.2% in October. The latest data shows that U.S. September PCE inflation rose 2.1% year-over-year, meeting expectations. The market is now focusing on the U.S. nonfarm payrolls report for October to be released tonight. The general market expectation is that the number of new nonfarm jobs added in October will slow significantly due to temporary unemployment caused by hurricanes and strikes. It is worth mentioning that the jobs report will be released this Friday, just four days before the U.S. presidential election. If the data is extremely weak, it could impact the election and increase market volatility.
