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Bitget Research: Market Volatility Extremely Low, NFT Market Weakness Puts Numerous Blue Chips NFTs at Risk of Liquidation
Bitget Research
2023/08/22
the past 24 hours, there have been many new popular tokens and topics emerging in the market, and perhaps they could be the next market spotlight.
In Summary:
1.Popular Tokens:
0xF (Token) - 0xFriend, "Empowering Social Share Trading built upon
http://friend.tech on Telegram" - This is a telegram bot used for buying and targeting Shares on FriendTech. The token has a 24-hour trading volume of US$1.47 million, with 2610 transactions and a 5% transaction tax.
SHARES (Token) - Friend.tech on the Ethereum Network. SHARES is riding the wave of the popular social finance project, FriendTech. The project's plan is to establish a trading platform for "Shares", and there is market hype around trading celebrity Shares. The token surged after its TGE but has dropped over 50% in the past 24 hours. It has a 24-hour trading volume of US$7.2 million.
DAI (Token) - Makerburn data shows that the MakerDAO DAI savings rate (DSR) has been reduced to 5%. The number of DAI currently deposited into the DSR has started to decrease, with the TVL dropping from US$1.47 billion to US$1.13 billion.
2.Popular NFTs:
EYECON Keys（NFT）- EYECON Keys provides access to OG status for EYECONS Lifetime Membership NFT powered by MEDIA EYE and $eYe - EYECONS. 10,000 NFTs were sold out within 2 hours, and the current number of holders is 8289.
Fundrop (NFT) - The !fundrop reward event kicked off last weekend. The first phase of mint.fun's event has officially ended. On the Mint.fun official site, users can mint the first season's commemorative NFTs, which may potentially serve as a credential for future token airdrops. It's recommended that users who have previously minted on Mint.fun participate. https://mint.fun/fundrop
Pandra (NFT) - NFTs issued by Polyhedra Network, engaging in Pandra series NFTs cross-chain interactions might lead to future project benefits. Currently, you can interact with zkBridge and LayerZero simultaneously, and the NFT's interaction data has been boosted by speculative token drop enthusiasts.
3.Popular DApps:
Friend.Tech (DApp) - Currently the most popular application on Base in the SocialFi sector. It tokenizes individual influence by allowing users to buy and sell "shares" of people. At the same time, Friend.Tech has been controversial due to privacy issues like "data breaches." Data from DefiLlama shows that in the past 24 hours, the Friend.Tech protocol generated a total of US$1.68 million in protocol fees, surpassing Lido (US$1.61 million), Uniswap (US$888,000), and the Bitcoin network (US$392,000), second only to the Ethereum network (US$3.45 million) in the same period.
Lens Protocol (DApp) - The Web3 social app, Jam, is set to launch a DApp with "Friends Token" concept based on the decentralized social protocol Farcaster and the Web3 social network protocol Lens Protocol. Similar to Friend.tech, this feature will enable users to directly buy and trade shares of content creators and their posts within the social DApp. Additionally, users can also trade shares of the actual content itself.
Base (DApp) - On August 15th, Base's 7-day moving average daily transaction count reached 610,000, surpassing both Optimism (597,000) and Arbitrum (576,000).
BananaGun (DApp) - An Ethereum and Telegram sniper bot that has been mentioned by various early degens recently. It has assisted users in sniping the first block of tokens before they go live, allowing them to earn early profits. On August 16, the project released its own NFT. The project has not issued a token yet, making it important to keep a close watch on this DApp.
Stargate (DApp) - Stargate is a liquidity transfer protocol and the core project of the LayerZero ecosystem. Currently, the number of unique addresses staking its STG token has reached 1.1 million, with over 40 million STG tokens being staked. Today, Stargate announced its integration with the ConsenSys Layer 2 network Linea, enabling users to execute cross-chain asset transactions between networks supported by Stargate.
4.Twitter Hot Topics:
AKT (Token) - The stablecoin payment feature on Akash has successfully passed initial testing. This key feature of AKT 2.0 will enable users to settle deployment fees using USDC. This feature is already operational on the public testnet and will be incorporated as part of the upcoming Akash GPU mainnet upgrade. Stimulated by the positive news, Akash has seen a monthly increase of 138.85%.
RUNE (Token) - THORChain has announced the launch of a lending protocol that will introduce a burn mechanism for RUNE, promoting deflation. The RUNE token has broken its downtrend and has seen continuous price increases for 10 days, with TVL surging in the past week, leading to improved utilization of ecosystem funds.
5.Regional Trending Searches:
BLZ (Token) - Bluzelle is the world's first project to establish a decentralized NoSQL database. It offers scalable data services for decentralized applications based on client needs. Today, it has seen a 16.6% increase, with open interest at US$314 million.
Main Body
Written by: Bitget Research
Data collection time: August 22, 10:30
Data sources: Dune, DApps, Twitter, Google
Note:
1) New active users: Refers to wallet addresses that were newly created on the chain in the past 24 hours and had interactions on the chain.
2) Existing active users: Refers to wallet addresses that were created on the chain 24 hours ago and had interactions on the chain in the past 24 hours.
3) DApp daily activity (UAW: unique active wallets)
4) TGE (Token Generation Event)
1.BTC Profile - BRC-20
There are no assets that stand out in terms of popularity in the BRC-20 sector, and the overall asse t prices have significantly declined. The sector's popularity is currently at an average level.
2. Blockchain Profile - ETH Chain
2.1 User Profile
2.1.1 Core Data
Total active users of ETH: 371,308
New active users of ETH: 72,048, with a daily increase of 11.78%
Existing active users of ETH: 299,260, with a daily decrease of 0.16%
2.1.2 New User Profile
Core data: There were a total of 72,048 new active users on ETH yesterday, with a daily increase of 11.78%
Popular Sectors
Popular Projects
Coinbase (CEX) - According to the official Coinbase blog, USDC will be launched on six new
blockchains between September and October. Coinbase is expanding its support for the stablecoin and has invested in Circle. Circle will have full control over the issuance and governance of USDC. Coinbase and Circle will also maintain a commercial partnership, with both parties sharing the interest income from USDC reserves.
Base (DApp) - On August 15th, Base's 7-day moving average daily transaction count reached 610,000, surpassing both Optimism (597,000) and Arbitrum (576,000).
2.1.3 Existing User Profile
Core data: The number of ETH active existing users is 299,260, with a daily decrease of 0.16%
Popular Sectors
Popular Projects
Fundrop (NFT) - The !fundrop reward event kicked off last weekend. The first phase of mint.fun's event has officially ended. On the Mint.fun official site, users can mint the first season's commemorative NFTs, which may potentially serve as a credential for future token airdrops. It's recommended that users who have previously minted on Mint.fun participate. https://mint.fun/fundrop
BananaGun (DApp) - An Ethereum and Telegram sniper bot that has been mentioned by various early degens recently. It has assisted users in sniping the first block of tokens before they go live, allowing them to earn early profits. On August 16, the project released its own NFT. The project has not issued a token yet, making it important to keep a close watch on this DApp.
2.2 Popular Trading Pairs
2.2.1 Uniswap V2
0xF (Token) - 0xFriend, "Empowering Social Share Trading built upon
http://friend.tech on Telegram" - This is a telegram bot used for buying and targeting Shares on FriendTech. The token has a 24-hour trading volume of US$1.47 million, with 2610 transactions and a 5% transaction tax. https://www.dextools.io/app/en/ether/pair-explorer/0x34bc3a520649700b968aa20f26b14335de7b2812
2.2.2 Uniswap V3
SHARES (Token) - Friend.tech on the Ethereum Network. SHARES is riding the wave of the popular social finance project, FriendTech. The project's plan is to establish a trading platform for "Shares", and there is market hype around trading celebrity Shares. The token surged after its TGE but has dropped over 50% in the past 24 hours. It has a 24-hour trading volume of US$7.2 million. https://www.dextools.io/app/en/ether/pair-explorer/0x4c52d01fb85b36cccf1647b99fb7b20f70fe669c
3.Blockchain Profile - BSC Chain
3.1 User Profile
3.1.1 Core Data
Total active users on BSC: 1,074,500
New active users on BSC: 169,766, with a daily increase of 20.53%
Existing active users on BSC: 904,734, with a daily increase of 8.42%
3.1.2 New User Profile
Core data: There were a total of 169,766 new active users on BSC yesterday, with a daily increase of 20.53%
Popular Sectors
Popular Projects
Pandra (NFT) - NFTs issued by Polyhedra Network, engaging in Pandra series NFTs cross-chain interactions might lead to future project benefits. Currently, you can interact with zkBridge and LayerZero simultaneously, and the NFT's interaction data has been boosted by speculative token drop enthusiasts.
3.1.3 Existing User Profile
Core data: The number of BSC active existing users is 904,734, with a daily increase of 8.42%
Popular Sectors
Popular Projects
PlaybuxQuest (DApp) - A metaverse project on the Binance Smart Chain that integrates real-world shops (shop-to-earn), DeFi, NFT, and virtual community promotions. It has recently launched a promotion called "Walk2Win" in partnership with Nike. Users can earn exclusive rewards just by walking. It is essential to keep an eye on this DApp.
3.2 Popular Trading Pairs
3.2.1 PancakeSwap V2
MCA (Token) - The token introduces itself as the "smart AI live streaming ecosystem, with products including live streaming, empowering entertainment, and physical industries". Deployed on the BSC, it is suspected to be a locally promoted token in the Chinese-speaking region. The token has high on-chain popularity with a 24-hour trading volume of approximately US$2 million and over 5000 transactions. https://www.dextools.io/app/en/bnb/pair-explorer/0x05d5ac8f98f939d228965ec1e08d44f5fdd70a10
4.Blockchain Profile - Polygon Chain
4.1 User Profile
4.1.1 Core Data
Total active users on Polygon: 366,957
New active users on Polygon: 71,859, with a daily increase of 16.72%
Existing active users on Polygon: 295,098, with a daily decrease of 1.48%
4.1.2 New User Profile
Core data: There were a total of 71,859 new active users on Polygon yesterday, with a daily increase of 16.72%
Popular Sectors
Popular Projects
DAI (Token) - Makerburn data shows that the MakerDAO DAI savings rate (DSR) has been reduced to 5%. The number of DAI currently deposited into the DSR has started to decrease, with the TVL dropping from US$1.47 billion to US$1.13 billion.
EYECON Keys（NFT）- EYECON Keys provides access to OG status for EYECONS Lifetime Membership NFT powered by MEDIA EYE and $eYe - EYECONS. 10,000 NFTs were sold out within 2 hours, and the current number of holders is 8289. (https://twitter.com/MEDIAEYENFT), (https://opensea.io/collection/eyecon-keys)
4.1.3 Existing User Profile
Core Data: The number of Polygon active existing users is 295,098, with a daily decrease of 1.48%
Popular Sectors
Popular Projects
Quadrant Protocol (DApp) - A data-driven tech company focused on improving mobile addresses and POI data. The project has low community attention and average token trading activity. On-chain data shows numerous fixed-amount transfers, indicating that users can receive token rewards for participation.
4.2 Popular Trading Pairs
4.2.1 Uniswap V3
On the Polygon chain's Uni V3, the most actively traded tokens are primarily the chain's native token MATIC, ETH, and stablecoins.
5.Blockchain Profile - Arbitrum Chain
5.1 User Profile
5.1.1 Core Data
Arbitrum Active Users: 149,269
Arbitrum New Active Users: 26,763, with a daily increase of 7.85%
Arbitrum Existing Active Users: 122,506, with a daily decrease of 3.81%
5.1.2 New User Profile
Core data: There were a total of 26,763 new active users on Arbitrum yesterday, with a daily increase of 7.85%
Popular Sectors
Popular Projects
LayerSwap (DApp) - This platform supports users in transferring assets across EVM chains such as Arbitrum, OP, Zksync, Starknet, and Polygon. Zkswap and Rollup.finance have already integrated Layerswap and will use the relevant cross-chain services. The project makes cross-chain operations simple and secure. With a solid foundation, it is an essential project to stay updated on.
5.1.3 Existing User Profile
Core data: The number of Arbitrum active existing users is 122,506, with a daily decrease of 3.81%
Popular Sectors
Popular Projects
DragonCityMiner (DApp) - According to on-chain data, there have been numerous contract actions such as Boost, Activate, and Withdraw, corresponding to the related operations within the project. Withdraw function enables the extraction of "Dragon City" tokens from the contract. This token has just had its TGE on a DEX and possesses significant liquidity and trading activity. https://dexscreener.com/arbitrum/0x10d75ea220a3cce7b537d3dd83b8b01c46e1b847
5.2 Popular Trading Pairs
5.2.1 Uniswap V3
On the Arbitrum chain, the most actively traded tokens are primarily the chain's native token ARB, and stablecoins.
6.Blockchain Profile - Base Chain
6.1 User Profile
6.1.1 Core Data
Base Active Users: 145,479
Base New Active Users: 46,509, with a daily increase of 11.90%
Base Existing Active Users: 98,970, with a daily increase of 26.14%
6.1.2 New User Profile
Core data: There were a total of 46,509 new active users on Base yesterday, with a daily increase of 11.90%
Popular Sectors
Popular Projects
Omnichain Adventures Part 2 (NFT) - An NFT offering FreeMint on MintFun, with 59,990 holders. (https://mint.fun/base/0x061A883E8c2FEFFB4F3eA42046ABD4bE88E1333f , https://opensea.io/collection/omnichain-adventures-part-2)
6.1.3 Existing User Profile
Core data: The number of Base active existing users is 98,970, with a daily increase of 26.14%
Popular Sectors
Popular Projects
Friend Tech (DApp) - Friend.Tech is currently the most popular application on Base. As a SocialFi sector DApp, it tokenizes individuals by enabling users to buy and sell "shares" of people. The value of these "shares" fluctuates based on supply and demand. Buying someone’s "shares" grants owners the ability to exchange private messages with them. Essentially, it's a bet on the individual's influence.
7. DApp Ecosystem - All Chains
Stargate (DApp) - Since August, Stargate has successively integrated with the Base and Linea networks, resulting in a steady increase in its interaction activity.
8.DApp Ecosystem - ETH Chain
Lido (DApp) - The amount of Ethereum locked in the LSD project has surpassed 11 million (approximately US$18.6 billion). Lido (8.26 million), Coinbase (1.21 million), and Rocket Pool (890,000) rank in the top three, with market shares of 74.43%, 10.95%, and 8.02%, respectively.
9.DApp Ecosystem - BSC Chain
Tinytap (DApp) - A decentralized education platform supported by Animoca Brands. Established in 2012, TinyTap is a tech startup based in Tel Aviv, Israel that focuses on user-generated content (UGC). As a specific technology in the trading sector, Tiny Tap will participate in the ISTE Live23 conference and earlier established a US$10 million Global Educators Fund, gaining considerable interest in the community.
10.DApp Ecosystem - Polygon Chain
Lens Protocol (DApp) - The Web3 social app, Jam, is set to launch a DApp with "Friends Token" concept based on the decentralized social protocol Farcaster and the Web3 social network protocol Lens Protocol. Similar to Friend.tech, this feature will enable users to directly buy and trade shares of content creators and their posts within the social DApp. Additionally, users can also trade shares of the actual content itself.
11.DApp Ecosystem - WAX Chain
The projects on the WAX chain have not seen any significant changes.
12.DApp Ecosystem - Solana Chain
On August 19, SBF requested to be released five days a week to prepare for his defense. On August 22, SBF will be summoned again. The future direction of the SBF case and the anticipated relaunch of FTX 2.0 may inject new vigor into the Solana ecosystem.
13.DApp Ecosystem - Arbitrum Chain
DragonCity was e xplained earlier in the report.
14.DApp Ecosystem - Base Chain
Friend.Tech (DApp) - On August 22, according to the data from DefiLlama, in the past 24 hours, the Friend.Tech protocol generated a total of US$1.68 million in protocol fees, surpassing Lido (US$1.61 million), Uniswap (US$888,000), and the Bitcoin network (US$392,000), second only to the Ethereum network (US$3.45 million) in the same period.
15.DApp Ecosystem - GameFi Sector Across All Chains
Splinterlands (DApp) -
The project is a card game built on Hive and Wax, where players can trade, buy or sell digital assets within the game to receive rewards. The project received US$3.6 million in funding from investors such as Animoca, Blockchain Founders Fund, and Enjin on July 28, 2021. The game has consistently remained among the top ranks of various chains in terms of activity.
16.Gas Fee Consumption - ETH Chain
Unibot (DApp) - Unibot has announced the launch of Unibot X, a unified trading terminal that surpasses the boundaries of the current Telegram product. It decouples the Web application from Telegram, enabling independent access and integrating all functionalities into Unibot X and expanding them. Influenced by this development, the UNIBOT token hit a new high yesterday followed by a pullback with the broader market over the past two days. Nevertheless, the price remains at a high level, showing strong performance, with a tota l trading volume of US$1.95 million in the last 24 hours.
17.Gas Fee Consumption - BSC Chain
Stargate (DApp) - Stargate is a liquidity transfer protocol and the core project of the LayerZero ecosystem. Currently, the number of unique addresses staking its STG token has reached 1.1 million, with over 40 million STG tokens being staked. Today, Stargate announced its integration with the ConsenSys Layer 2 network Linea, enabling users to execute cross-chain asset transactions between networks supported by Stargate.
18.Gas Fee Consumption - Polygon Chain
Planet IX (DApp) - A Web3 NFT-based GameFi game that is currently one of the most popular games on Polygon. It consistently tops the Polygon ecosystem rankings and has a highly active user base.
19.Gas Fee Consumption - Arbitrum Chain
Vertex (DApp) - Vertex, a hybrid order book-AMM DEX built on Arbitrum, offers unified collateral across spot, perpetual, and money markets. Vertex has received a strategic investment from Wintermute Ventures. The project has a Trade 2 Earn mechanism where trading can earn platform rewards, making it an essential project to follow. This project deserves attention, particularly with just two Epoch left for participation.
20.Gas Fee Consumption - Base Chain
Friend Tech (DApp) - Friend.Tech is one of the most popular applications on Base. As a SocialFi sector DApp, it tokenizes individuals by enabling users to buy and sell "shares" of people. The value of these "shares" fluctuates based on supply and demand. Buying someone’s "shares" grants owners the ability to exchange private messages with them. Essentially, it's a bet on the individual's influence.
21.Twitter Trends Token Top Rank
AKT (Token) - The stablecoin payment feature on Akash has successfully passed initial testing. This key feature of AKT 2.0 will enable users to settle deployment fees using USDC. This feature is already operational on the public testnet and will be incorporated as part of the upcoming Akash GPU mainnet upgrade. Stimulated by the positive news, Akash has seen a monthly increase of 138.85%.
RUNE (Token) - THORChain has announced the launch of a lending protocol that will introduce a burn mechanism for RUNE, promoting deflation. The RUNE token has broken its downtrend and has seen continuous price increases for 10 days, with TVL surging in the past week, leading to improved utilization of ecosystem funds.
22.Google Trends - Global
BLZ (Token) - Bluzelle is the world's first project to establish a decentralized NoSQL database. It offers scalable data services for decentralized applications based on client needs. Today, it has seen a 16.6% increase, with open interest at US$314 million.
23.Google Trends Surge - East Asia, South Asia, Southeast Asia, Hong Kong, Macau, and Taiwan
a) South Asia Region
India Trending Keywords: crypto bubbles, coin dcx
Pakistan Trending Tokens and Keywords: cryptowin, coinpayu
b) Southeast Asia Region
Malaysia Trending Tokens: binance, what is crypto
Thailand Trending Keywords: coinmarketcap, ran crypto
Philippines Trending Tokens: btc, xrp
Indonesia Trending Tokens and Keywords: friend tech, coinmarketcap, cryptotab
c) East Asia and Hong Kong, Macau, and Taiwan Trending Tokens and Keywords: crypto currency
24.Google Trends Surge - English-speaking Countries, Europe, CIS Region
a) CIS Region Trending Tokens: circle crypto, btcc, binance
b) English-speaking Countries
Canada Trending Tokens: gala, xrp, hex
USA Trending Keywords: mxc, telos
Australia Trending Tokens: cyber, sonm, ngs, acropolis
UK Trending Tokens: btc, bitrock, blz, bnb
c) Europe
Spain Trending Tokens: dot, cyber, icp
Germany Trending Tokens: pi, shib, bit;
France Trending Tokens: mnw, sonik, meria
Switzerland Trending Tokens: shib
Turkey Trending Tokens and Keywords: xen
25.Google Trends Surge - Middle East, Latin America, Africa
a) Africa
Nigeria Trending Keywords: crypto faucet, crypto bubbles
b) Middle East Trending Keywords: crypto bubbles, best crypto wallet
c) Latin America
Brazil Trending Tokens: nucoin, bnb, ltc
Argentina Trending Keywords: dolar crypto,
crypto marketcap
References
1. Dune Dashboard - Blockchain Profile: https://dune.com/bitgetresearch/bitgetreseach-chains-overview
2. Dune Dashboard - Gas Fee Consumption: https://dune.com/bitgetresearch/gas-overview
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