Bitget Daily Digest | BTC reaches new high, $ACT surges over 20x (November 12)

Market highlights

1. $ACT, an AI-themed memecoin discovered and listed early by Bitget, soared over 20x in a short period. Following the success of $ORDI and other new projects, Bitget continues to demonstrate its expertise in identifying significant market trends. Follow Bitget for more promising tokens and wealth-building opportunities.

2. Following the recent new high of $SUI, $APT (also built with the Move programming language) is drawing market inflows and speculative interest. Keep an eye on other public chain tokens, such as $AAVX and $SEI, which are also gaining momentum. 

3. As BTC keeps reaching new all-time highs, leading projects such as $ORDI, memecoins like $WZRD and $DOG, on-chain NFTs, and other assets in the ecosystem are likely to attract market interest. 

4. This morning, Tether Treasury minted 2 billion USDT on Ethereum. With spot Bitcoin ETFs, Coinbase, and MicroStrategy collectively recording a historic daily trading volume of $38 billion, market sentiment remains extremely positive.

 

Market overview

1. BTC was on the verge of reaching $90,000, while $DOGE shows impressive performance. Gains across sectors like storage, GameFi, and AI signal a favorable market outlook.

2. America's three biggest stock indices have reached new highs, with small-cap stocks driven by sector rotation climbing 1.5%, and Tesla shares surging over 9%. 

3. Currently at 88,599 USDT, BTC faces significant liquidation risks. If BTC drops by 1000 points to around 87,599 USDT, cumulative long position liquidations will exceed $160 million. Conversely, if BTC rises to around 89,599 USDT, cumulative short position liquidations will exceed $59 million.Traders are recommended to exercise caution and manage leverage prudently to avoid large-scale liquidations. 

4. In the past day, BTC spot saw $8.5 billion in inflows and $7.7 billion in outflows, resulting in a net inflow of $800 million.

5. Over the last 24 hours, $BTC, $SOL, $LTC, $POPCAT, and $NEAR led in futures trading net inflows, signaling potential trading opportunities. 

 

Highlights on X

1. @Owen updated trading strategy and adjusted perpetual futures positions

@Owen made some changes to his perpetual futures positions in the last 24 hours:

Closed $MOODENG: @Owen believes $MOODENG will consolidate in the short term after a 3.5x increase in one week. He expects $ACT and $PNUT will draw liquidity away from it over the next few days. Satisfied with the gains, he decided to take profits.

Added $ACT/$PNUT: @Owen has filled 50% of his positions in these tokens and plans to fully fill them if $ACT's market cap reaches $350 million. He emphasizes that projects listed on Binance often present short-term profit opportunities, particularly $ACT, as it is the first AI agent token listed on Binance.

Added $DEGEN: @Owen views $DEGEN's $200 million market cap at his entry point as relatively low, particularly given its recent Coinbase listing—a factor the market appears to have overlooked. He also highlights strong breakout signals in $DEGEN's daily chart.

Closed some $DOGE positions: @Owen closed 50% of his $DOGE positions around $0.30, doubling his profits since his entry. He plans to buy more $DOGE when the time is right.

$BTC and $NEIRO remain unchanged: Both assets remain stable, and @Owen sees no reason to adjust his exposure.

Market outlook:

Diversified strategy: @Owen flexibly adjusts his positions based on shifts in liquidity and growth potential, maintaining core positions while allowing for flexibility to capture short-term opportunities. He offers investors a diversified approach to profit in a volatile market.

@Owen encourages retail investors to focus on assets with strong market demand (like those listed in leading exchanges) and tokens with strong performance, helping them capitalize on both short- and long-term opportunities.

X post: https://x.com/owen1v9/status/1855970098139545968

 

2. @Unipcs sees opportunities in undervalued BTC memecoins

@Unipcs points out that the BTC memecoin sector is the most undervalued in crypto. OG memecoins are starting to gain traction due to Bitcoin's resilience and new liquidity entering the market. Key highlights:

$DOGE surge: $DOGE added over $10 billion to its market cap in a single day, while the entire BTC memecoin sector is valued at just over $2 billion.

High potential: @Unipcs believes that the BTC memecoin sector is notably undervalued and could offer an easy 50–100x growth opportunity in this market cycle.

Top BTC memecoins to watch:

$PUPS, $WZRD, $WADDLE, $BDC, $SAIKO, $BIP, and $DOG

Market outlook:

Undervalued sector: @Unipcs advises investors to pay close attention to the BTC memecoin sector and consider increasing their exposure. He sees great potential in the sector and states that it would be a mistake to miss out on this opportunity.

@Unipcs emphasizes that the BTC memecoins sector is one of the most overlooked sectors in all of crypto, with strong community support and substantial long-term growth potential.

X post: https://x.com/theunipcs/status/1855896982725808356

 

3. @Johnny's analysis on $0x0's recent performance and potential

@Johnny gives an optimistic outlook for $0x0, highlighting several key points:

Target price of $1: Johnny believes that $0x0 could break through $0.18 and potentially rally toward $1 in the coming weeks.

Imminent mainnet launch: The upcoming $0x0 mainnet launch, alongside Ethereum's strong rebound, is strengthening market confidence.

AI tokens set to benefit: Johnny expects AI utility coins to attract more market interest, with the potential for significant price action.

Market outlook:

Focus on $0x0 and AI tokens in the short term: @Johnny suggests monitoring closely $0x0 as it approach key price levels, as well as other AI-related tokens for potential short-term gains.

X post: https://x.com/CryptoGodJohn/status/1856034170205872143

 

4. @Snowball anticipates a token launch boom and wealth effect in the Aptos ecosystem

@Snowball analyzes the potential explosive growth of the Aptos ecosystem, citing three main reasons:

(1) Top projects yet to launch tokens: Many high-quality projects in the ecosystem have not issued tokens, signaling significant potential.

(2) Bull market support: The bull market provides a favorable backdrop for token launches, and market anticipation is high.

(3) Strong support for the Move ecosystem: Major platforms are expected to list more Move ecosystem projects.

Top Aptos ecosystem projects to watch:

Amnis Finance

Type: Liquid staking protocol

Highlights: Backed by OKX and Aptos, Amnis Finance has a TVL nearing $300 million and offers potential airdrop opportunities.

 Aries Markets

Type: Decentralized margin trading protocol

Highlights: A well-established project since 2022, Aries Markets boasts an ecosystem TVL close to $300 million, includes a points system, and provides potential airdrop opportunities.

Thala Labs

Type: Decentralized stablecoin protocol

Highlights: With a circulating market cap of $50 million and a TVL around $240 million, Thala Labs is a core infrastructure project in the stablecoin space.

Echo Protocol

Type: Cross-chain bridge and restaking protocol

Highlights: Focused on BTC and Move ecosystem restaking, Echo Protocol has a TVL of approximately $200 million and is backed by Spartan Group.

Market outlook:

Opportunities in the Move ecosystem: @Snowball points out that the Move language plays a crucial role within both Aptos and the broader crypto ecosystem, presenting wealth opportunities in primary and secondary markets, as well as through potential airdrops.

Investors are encouraged to focus on innovative, well-funded projects in the Aptos ecosystem—particularly leading projects in the Move ecosystem—to capture potential gains.

X post: https://x.com/one_snowball/status/1855812777014870233

 

Institutional insights

1.Bernstein: Welcome to the crypto bull market — Buy everything you can

Article: https://www.theblock.co/post/325425/trump-fueled-crypto-bull-market-resurgence

2.Standard Chartered predicts Solana to outperform BTC and ETH by the end of 2025

Article: https://www.coindesk.com/markets/2024/11/11/crypto-market-cap-could-ballon-to-10t-by-2026-under-trump-administration-standard-chartered/

3.The ETF Store: There will be several spot crypto ETF filings this week, including XRP, SOL, and ADA

X post: https://x.com/NateGeraci/status/1855794053423452381

4.Standard Chartered analyst: SOL will reach ATH before the end of the year, with ETH following suit in January during Trump's inauguration

Article: https://www.theblock.co/post/325319/as-bitcoin-hits-80000-standard-chartered-calls-new-solana-peak-inevitable-by-years-end?utm_source=twitter&utm_medium=social

 

News updates

1. Donald Trump plans to narrow his shortlist of candidates for Treasury Secretary this week, favoring someone with a Wall Street background, according to people familiar with his plans.

2. A Ukrainian man was robbed of 250,000 USDT after being attacked and forced to make a substantial transfer.

3. MicroStrategy buys 27,200 BTC for around $2.03 billion.

4. Hong Kong Securities and Futures Commission states that the commission's primary focus remains on the blockchain technology underpinning virtual assets and the financial technology and services it generates.

 

Project updates

1. 37 million GMT (about $5.5 million) investor shares were injected into the GMT Ecosystem Fund again.

2. NAVI Protocol launches NAVI.ag, a DEX aggregator.

3. The Conflux Foundation launches a $500 million incentive program to support the development of the PayFi ecosystem.

4. Avara, the parent company behind Aave, launches Family, a non-custodial crypto wallet.

5. Orderly Network integrates Avalanche, further expanding liquidity infrastructure.

6. Bitlayer enters a strategic partnership with Nansen, becoming the first BTC ecosystem infrastructure project to collaborate with Nansen.

7. Band Protocol rebrands as Band and announces the launch of Band v3.

8. Filecoin ecosystem team launches L2 networks.

9. An ACT developer states that all ACT tokens have been distributed, burned, or sold, and they do not wish for ACT to be listed on any centralized exchange (CEX).

10. Teller develops Tellor Layer, a stand-alone Layer 1 blockchain built with the cosmos SDK.

11. ENS Labs launches Namechain, a Layer 2 network.

 

Token unlocks

Fusionist (ACE): To unlock 850,000 tokens valued at $2 million, making up 2.09% of the circulating supply.

 

Recommended reads

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Link: https://www.bitgetapp.com/zh-CN/news/detail/12560604340704

 

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