Bitget Research: Meme Sector Experiences a Collective Drop, New Memecoins on Ethereum Chain Suffer Continuous MEV Attacks

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:

FOUR (Token) — This memecoin, whose contract was deployed just one day ago, exhibits high on-chain trading activity. In the past 24 hours, there have been 13,547 on-chain transactions (8918 of which were buys), with an astonishingly high trading volume of US$111 million. However, over 90% of this trading volume comes from MEV Bot, so on-chain trading should be approached with caution. There are no obvious risks in the contract, and it is soon to be listed on several CEXs.

BEN (Token) — This is a dog-themed memecoin that was deployed just one day ago. There are 6549 holders, with 9737 transactions (6,812 buys) in the past 24 hours. The on-chain trading volume is US$45 million, with total liquidity in the Uniswap V3 pool equaling US$3.04 million. Although there are no obvious risks in the contract, it has also been attacked by MEV, so trading should be approached with caution.

PEPEAI (Token) — The project that broke the FairLaunch record on PinkSale has raised 10,262 BNB with the most number of participants. There are 16,278 holders, with 30,384 transactions (18,546 buys) in the past 24 hours. A few hours after opening, it fell below the PreSale price. There are no obvious risks in the contract.

POOD claim contract (Token / DApp) — This is a next-generation memecoin on the zkSync Era and Arbitrum One with a LaunchPad. It is currently in the task and airdrop qualification stage and has not yet had its TGE.

BIBI (Token) — This memecoin was issued by Taiwanese influencer @zhouyongyou. There were 3500 participants in the “Live Token Launch” Twitter Space AMA. The Twitter account became popular in the Chinese-speaking region after the token launch. There are no obvious risks in the contract, but it suffered a significant decline yesterday. There are currently 7149 holders.

XEN (Token) — Currently, several XEN-related contract addresses appear in the top 10 on Polygon Gas consumption, including RobotXEN, Cointool, and MCTXenft tools that can batch mint XEN, resulting in higher gas usage. XEN has created its own mini-ecosystem, including XENFT, XEN Torrent, DBXEN, and Xenlon. Multiple projects in the XEN ecosystem revolve around the core interaction of “burning XEN.”

SPONGE (Token) — A SpongeBob-themed memecoin, Sponge experienced a 60% decrease from its peak yesterday. The contract exhibits no apparent issues. Despite the MEV attack, the on-chain trading volume continues to surge, reaching over US$50 million in the past 24 hours.

USDT, USDC (Token) — Following the collapse of four regional banks, the Federal Reserve has released its first Financial Stability Report. The report warns that “there are significant liquidity risks in financial markets, and stablecoins are still susceptible to run impacts.” Over the past week, the circulation of Circle’s USDC has decreased by US$400 million and recently experienced slight depegging.

CAPY (Token) — Capybara, a memecoin whose contract was deployed just one day ago, has no obvious risks in its contract. In the past 24 hours, there have been 6289 on-chain transactions with a trading volume of US$19 million (a large part of this volume comes from MEV Bot). The current number of holders is 2043.

JEFF (Token) — A Wojak-themed memecoin. Four days after the TGE, it experienced a significant decrease of up to 80% yesterday following two consecutive days of substantial increases. The contract includes a clause that allows the owner to reclaim tokens, which presents a certain level of risk.

$MONG (Token) — A memecoin that originated from a U.S. Congressman’s incoherent ramblings. The token price halved in succession after a week-long surge.

2.Popular NFTs:

No popular NFT projects emerged yesterday.

3.Popular DApps:

Planet IX (DApp) — NETEMPIRE Genesis NFT Mint is scheduled to launch on May 11th. In conjunction, it will release the PO100M NFT in partnership with BitKeep, celebrating a remarkable milestone for Planet IX: “Becoming the first-ever NFT series to surpass 100 million transactions on the Polygon network.”

Stargate (DApp) — Stargate has climbed to the Top 2 in terms of daily activity data on Polygon. This is mainly due to airdrop hunters. During Layer0 cross-chain interaction processes, the gas costs in the “Polygon — Avalanche, Polygon — FTM, BNB — Polygon” cross-chains are relatively lower, boosting Stargate’s UAW data on Polygon.

CyberConnect (DApp) — CyberConnect announced the launch of its native token CYBER, which will be available for sale to the public through CoinList on May 18th. Users who qualify as early adopters and contributors will have priority access to the CYBER inaugural public offering on CoinList, including Link3 Mystery Box and The Shards NFT holders, as well as W3ST holders. The relevant NFT transactions have increased.

ZeroEX (DApp)- The current name is 0x Protocol, which is an infrastructure protocol that facilitates cross-chain transactions for ERC-20 tokens. The project has already launched its token, with a total market cap of US$250 million. Many DEXs use their services, and it is one of Layerzero’s competitors. With the upcoming launch of Layerzero, there may be more trading opportunities. The ZRX token is available for trading on Bitget.

Playbux (DApp) — Playbux is a metaverse project on the Binance Smart Chain that integrates real-world shops (shop-to-earn), DeFi, NFT, and virtual community activities. Users can explore the blockchain world (such as PancakeSwap, 1inch, NFT marketplace, mini-games, etc.) within Playbux’s metaverse while also experiencing real-world shopping and getting rebates on the platform. The project recently launched a 60-day token airdrop campaign, with thousands of daily participants. The project has a high level of popularity on BSC, with 22,500 NFT holders.

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). It is among the top 10 highest-grossing children’s mobile apps on the App Store and Google Play. Its community includes over 9.5 million families and 250,000 educators, offering 250,000 interactive lessons from around the world. Its token, EDU, was previously launched on Binance Launchpad.

4.Twitter Hot Topics:

TOMI (Token) — Bybit officially announced a Byvote AMA event in collaboration with Tomi Network yesterday. As one of the three candidate projects, there is a high chance that Tomi will be listed on Bybit. This announcement received 22,000 views, leading to a short-term surge in the popularity of TOMI.

SUI (Token) — Listed on Binance on May 3rd, SUI is a popular chain with its token launched through an IEO. However, the performance has been weak since its listing, with the token price continuously falling. CETUS, a popular project on the SUI chain, launched its IDO yesterday where users need to commit SUI as the fundraising token. It is currently oversubscribed by 950%.

5.Regional Trending Searches:

Bitcoin (Token) — On May 1, the daily transaction count on the Bitcoin blockchain reached a record 605,000 transactions. The daily transaction count set a new record yesterday, reaching 663,000 transactions, more than double the average daily count of 250,000 transactions in 2022. The surge in BRC20 has increased Bitcoin miners’ income, but the price of Bitcoin fell 2.3% in the last 24 hours. This suggests that miners may be selling off Bitcoin after receiving their mining fees.

Main Body

Written by: Bitget Research

Data collection time: May 9, 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.Blockchain Profile — ETH Chain

1.1 User Profile

1.1.1 Core Data

• Total active users of ETH: 400,255
• New active users of ETH: 78,345, with a daily increase of 12.50%
• Existing active users of ETH: 321,910, with a daily increase of 11.87%

1.1.2 New User Profile

• Core data: There were a total of 78,345 new active users on ETH yesterday, with a daily increase of 12.50%
• Popular Sectors

• Popular Projects

USDT, USDC (Token) — Following the collapse of four regional banks, the Federal Reserve has released its first Financial Stability Report. The report warns that “there are significant liquidity risks in financial markets, and stablecoins are still susceptible to run impacts.” Over the past week, the circulation of Circle’s USDC has decreased by US$400 million and recently experienced slight depegging.

ZeroEX (DApp)- The current name is 0x Protocol, which is an infrastructure protocol that facilitates cross-chain transactions for ERC-20 tokens. The project has already launched its token, with a total market cap of US$250 million. Many DEXs use their services, and it is one of Layerzero’s competitors. With the upcoming launch of Layerzero, there may be more trading opportunities. The ZRX token is available for trading on Bitget.

1.1.3 Existing User Profile

• Core data: The number of ETH active existing users is 321,910, with a daily increase of 11.87%
• Popular Sectors

• Popular Projects

FOUR (Token) — This memecoin, whose contract was deployed just one day ago, exhibits high on-chain trading activity. In the past 24 hours, there have been 13,547 on-chain transactions (8918 of which were buys), with an astonishingly high trading volume of US$111 million. However, over 90% of this trading volume comes from MEV Bot (the pool has US$4.3 million, and each MEV transaction must be large enough to cause a significant slippage). There are no obvious risks in the contract, and it is soon to be listed on several CEXs. https://www.dextools.io/app/en/ether/pair-explorer/0xd101821c56b4405af4a376cbe81fa0dc90207dc2

1.2 Popular Trading Pairs

1.2.1 Uniswap V2

CAPY (Token) — Capybara, a memecoin whose contract was deployed just one day ago, has no obvious risks in its contract. In the past 24 hours, there have been 6289 on-chain transactions with a trading volume of US$19 million (a large part of this volume comes from MEV Bot). The current number of holders is 2043. https://www.dextools.io/app/en/ether/pair-explorer/0xb2843c7133289541086fa41673850dbf61cac6db

JEFF (Token) — A Wojak-themed memecoin. Four days after the TGE, it experienced a significant decrease of up to 80% yesterday following two consecutive days of substantial increases. The contract includes a clause that allows the owner to reclaim tokens, which presents a certain level of risk.https://www.dextools.io/app/en/ether/pair-explorer/0x6cc5a415327733f493481e40a23de14413739660

$MONG (Token) — A memecoin that originated from a U.S. Congressman’s incoherent ramblings. The token price halved in succession after a week-long surge. https://www.dextools.io/app/en/ether/pair-explorer/0x7054b0f980a7eb5b3a6b3446f3c947d80162775c

1.2.2 Uniswap V3

BEN (Token) — This is a dog-themed memecoin that was deployed just one day ago. There are 6549 holders, with 9737 transactions (6,812 buys) in the past 24 hours. The on-chain trading volume is US$45 million, with total liquidity in the Uniswap V3 pool equaling US$3.04 million. Although there are no obvious risks in the contract, it has also been attacked by MEV, so trading should be approached with caution. https://www.dextools.io/app/en/ether/pair-explorer/0xdce93ed9ae7c53143e19cf799d156b72d1cc2777

SPONGE (Token) — A SpongeBob-themed memecoin, Sponge experienced a 60% decrease from its peak yesterday. The contract exhibits no apparent issues. Despite the MEV attack, the on-chain trading volume continues to surge, reaching over US$50 million in the past 24 hours. https://www.dextools.io/app/en/ether/pair-explorer/0xf935f557e06a7d040dea4691f90c9a755301818b

2.Blockchain Profile — BSC Chain

2.1 User Profile

2.1.1 Core Data

• Total active users on BSC: 1,449,084
• New active users on BSC: 239,674, with a daily increase of 17.03%
• Existing active users on BSC: 1,209,410, with a daily increase of 4.91%

2.1.2 New User Profile

• Core data: There were a total of 239,674 new active users on BSC yesterday, with a daily increase of 17.03%
• Popular Sectors

• Popular Projects

Playbux (DApp) — Playbux is a metaverse project on the Binance Smart Chain that integrates real-world shops (shop-to-earn), DeFi, NFT, and virtual community activities. Users can explore the blockchain world (such as PancakeSwap, 1inch, NFT marketplace, mini-games, etc.) within Playbux’s metaverse while also experiencing real-world shopping and getting rebates on the platform. The project recently launched a 60-day token airdrop campaign, with thousands of daily participants. The project has a high level of popularity on BSC, with 22,500 NFT holders.

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). It is among the top 10 highest-grossing children’s mobile apps on the App Store and Google Play. Its community includes over 9.5 million families and 250,000 educators, offering 250,000 interactive lessons from around the world. Its token, EDU, was previously launched on Binance Launchpad.

2.1.3 Existing User Profile

• Core data: The number of BSC active existing users is 1,209,410, with a daily increase of 4.91%
• Popular Sectors

• Popular Projects

Playbux has explained above.

2.2 Popular Trading Pairs

2.2.1 PancakeSwap V2

BIBI (Token) — This memecoin was issued by Taiwanese influencer @zhouyongyou. There were 3500 participants in the “Live Token Launch” Twitter Space AMA. The Twitter account became popular in the Chinese-speaking region after the token launch. There are no obvious risks in the contract, but it suffered a significant decline yesterday. There are currently 7149 holders. https://www.dextools.io/app/en/bnb/pair-explorer/0xbabfb8eac3d264e5e55a22f7bd83e73aa3227e9f

PEPEAI (Token) — The project that broke the FairLaunch record on PinkSale has raised 10,262 BNB with the most number of participants. There are 16,278 holders, with 30,384 transactions (18,546 buys) in the past 24 hours. A few hours after opening, it fell below the PreSale price. There are no obvious risks in the contract. https://www.dextools.io/app/en/bnb/pair-explorer/0xf2c35be19458a875de7c0bd62d4338388a6dd1f2

3.Blockchain Profile — Polygon Chain

3.1 User Profile

3.1.1 Core Data

• Total active users on Polygon: 350,018
• New active users on Polygon: 70,207, with a daily increase of 20.16%
• Existing active users on Polygon: 279,811, with a daily increase of 8.62%

3.1.2 New User Profile

• Core data: There were a total of 70,207 new active users on Polygon yesterday, with a daily increase of 20.16%
• Popular Sectors

• Popular Projects

XEN (Token) — Currently, several XEN-related contract addresses appear in the top 10 on Polygon Gas consumption, including RobotXEN, Cointool, and MCTXenft tools that can batch mint XEN, resulting in higher gas usage. XEN has created its own mini-ecosystem, including XENFT, XEN Torrent, DBXEN, and Xenlon. Multiple projects in the XEN ecosystem revolve around the core interaction of “burning XEN.”

3.1.3 Existing User Profile

• Core Data: The number of Polygon active existing users is 279,811, with a daily increase of 8.62%
• Popular Sectors

• Popular Projects

Planet IX (DApp) — NETEMPIRE Genesis NFT Mint is scheduled to launch on May 11th. In conjunction, it will release the PO100M NFT in partnership with BitKeep, celebrating a remarkable milestone for Planet IX: “Becoming the first-ever NFT series to surpass 100 million transactions on the Polygon network.”

Polygon has been relatively quiet during the recent memecoin frenzy, and hasn’t had any notably popular memecoins. The majority of transactions are still happening on the leading game Planet IX, task platform Galxe, and SocialFi’s Lens.

3.2 Popular Trading Pairs

3.2.1 Uniswap V3

Top trading pairs on Polygon still primarily involve MATIC, stablecoins, and major tokens.

4.Blockchain Profile — Arbitrum Chain

4.1 User Profile

4.1.1 Core Data

• Arbitrum Active Users: 231,295
• Arbitrum New Active Users: 65,396, with a daily increase of 6.69%
• Arbitrum Existing Active Users: 165,899, with a daily decrease of 9.97%

4.1.2 New User Profile

• Core data: There were a total of 65,396 new active users on Arbitrum yesterday, with a daily increase of 6.69%
• Popular Sectors

• Popular Projects

POOD claim contract (Token / DApp) — This is a next-generation memecoin on the zkSync Era and Arbitrum One with a LaunchPad. It is currently in the task and airdrop qualification stage and has not yet had its TGE. https://twitter.com/zkPoodlera

4.1.3 Existing User Profile

• Core data: The number of Arbitrum active existing users is 165,899, with a daily decrease of 9.97%
• Popular Sectors

• Popular Projects

AIDOGE (Token) — In the earlier stage, the token’s price experienced a positive cycle driven by a high transaction tax and a large trading volume. This was further stimulated by the introduction of a mechanism “burn AIDOGE to get AICODE Token”, and the pumping and mining empowerment of AICODE led to a continuous rise in token price. However, recent delays in the promised “AIFI” by the project team, coupled with the general decline of memecoins, have led to a negative cycle of falling prices for both AICODE and AIDOGE.

4.2 Popular Trading Pairs

4.2.1 Uniswap V3

Pogai (Token) — Pogai is currently a popular memecoin in the Chinese-speaking region, featuring a panda character from expression packs for spreading its popularity. The project’s Twitter followers increased by 40,000+ within three days of launch, showing a rapid growth in popularity. However, as leading memecoins like PEPE took a hit, Pogai’s price also tumbled.

5.DApp Ecosystem — All Chains

Uniswap V3 and PancakeSwap V3 (DApp) — Both with over 100,000 users and have seen increased trading activity on their DEXs due to the recent memecoin craze.

PinkSale (DApp) — An IDO and a PreSale platform. The recent PEPEAI FairLaunch on PinkSale broke the IDO platform’s record by raising 10,262 BNB and attracting the highest number of participants. Many memecoins have recently started their initial offerings on PinkSale, which has driven up the platform’s usage.

6.DApp Ecosystem — ETH Chain

Uniswap (DApp) — As PEPE led the decline in the meme sector, the activity level of DEXs on the Ethereum network fell, but UAW remains high.

7.DApp Ecosystem — BSC Chain

CyberConnect (DApp) — CyberConnect announced the launch of its native token CYBER, which will be available for sale to the public through CoinList on May 18th. Users who qualify as early adopters and contributors will have priority access to the CYBER inaugural public offering on CoinList, including Link3 Mystery Box and The Shards NFT holders, as well as W3ST holders. The relevant NFT transactions have increased.

8.DApp Ecosystem — Polygon Chain

Stargate (DApp) — Stargate has climbed to the Top 2 in terms of daily activity data on Polygon. This is mainly due to airdrop hunters. During Layer0 cross-chain interaction processes, the gas costs in the “Polygon — Avalanche, Polygon — FTM, BNB — Polygon” cross-chains are relatively lower, boosting Stargate’s UAW data on Polygon.

9.DApp Ecosystem — WAX Chain

The Wax chain’s UAW is experiencing normal fluctuations.

10.DApp Ecosystem — Solana Chain

Raydium (DApp) — A native DEX on Solana. The memecoin frenzy also stimulated the trading of Solana’s memecoins (like BONK), leading to an increase in UAW.

11.DApp Ecosystem — Arbitrum Chain

GMX (DApp) — The swift market decline yesterday brought more trading opportunities to the decentralized derivatives exchange GMX. At the same time, other projects such as PlutusDAO and RDNT continue to carry out joint promotions with GMX.

12.DApp Ecosystem — GameFi Sector Across All Chains

Planet IX (DApp) — NETEMPIRE Genesis NFT Mint is scheduled to launch on May 11th. In conjunction, it will release the PO100M NFT in partnership with BitKeep, celebrating a remarkable milestone for Planet IX: “Becoming the first-ever NFT series to surpass 100 million transactions on the Polygon network.”

13.Gas Fee Consumption — ETH Chain

Uniswap (DApp) — The amount of gas fees generated by Uniswap trades has significantly decreased compared to yesterday. Yesterday, the Universal Router generated 3298.4 gas fees, which decreased by 490 today. Due to the decrease in memecoin trading activity, the rising popularity of the BRC20 concept, and persistently high ETH gas fees, there are signs of hot money shifting to speculate on other targets. This has led to a decrease in the number of transactions on Uniswap.

14.Gas Fee Consumption — BSC Chain

Troll Face (Token) — A memecoin with a 12% buy and sell tax with no obvious risks in the contract. However, the liquidity pool is only US$176,000, with a 24-hour trading volume of 958,370 and a daily transaction count of 6089. The high buy and sell tax could limit the room for speculation. https://www.dextools.io/app/cn/bnb/pair-explorer/0x76b1f589ea475ae07de876d421f9acc783342834

15.Gas Fee Consumption — Polygon Chain

XEN (Token) — Currently, several XEN-related contract addresses appear in the top 10 on Polygon Gas consumption, including RobotXEN, Cointool, and MCTXenft tools that can batch mint XEN, resulting in higher gas usage. XEN has created its own mini-ecosystem, including XENFT, XEN Torrent, DBXEN, and Xenlon. Multiple projects in the XEN ecosystem revolve around the core interaction of “burning XEN.”

16.Gas Fee Consumption — Arbitrum Chain

ODOS (DApp) — A DEX aggregator that supports one-click token swapping. Recently, it has been expanding rapidly on Arbitrum, and it has partnered with Camelot, as well as VE (3,3) Dex ChronosFi, and integrated with their platform. Odos has aggregated most of the DEX pools on Arbi to find the best prices, resulting in high activity on the Arbitrum chain.

17.Twitter Trends Token Top 20

TOMI (Token) — Bybit officially announced a Byvote AMA event in collaboration with Tomi Network yesterday. As one of the three candidate projects, there is a high chance that Tomi will be listed on Bybit. This announcement received 22,000 views, leading to a short-term surge in the popularity of TOMI.

SUI (Token) — Listed on Binance on May 3rd, SUI is a popular chain with its token launched through an IEO. However, the performance has been weak since its listing, with the token price continuously falling. CETUS, a popular project on the SUI chain, launched its IDO yesterday where users need to commit SUI as the fundraising token. It is currently oversubscribed by 950%.

18.Google Trends — Global

More frequently mentioned keywords in Google trending searches: crypto news, coinmarketcap, bitcoin, binance, crypto bubbles, id

Bitcoin (Token) — On May 1, the daily transaction count on the Bitcoin blockchain reached a record 605,000 transactions. The daily transaction count set a new record yesterday, reaching 663,000 transactions, more than double the average daily count of 250,000 transactions in 2022. The surge in BRC20 has increased Bitcoin miners’ income, but the price of Bitcoin fell 2.3% in the last 24 hours. This suggests that miners may be selling off Bitcoin after receiving their mining fees.

19.Google Trends Surge — East Asia, South Asia, Southeast Asia, Hong Kong, Macau, and Taiwan

a) South Asia Region

India Trending Tokens: arb, atom, vra;

Trending Keywords: mica crypto regulation, study number one call details

Pakistan Trending Keywords: bittrex, tradingview

b) Southeast Asia Region

Philippines Trending Tokens: trx

Indonesia Trending Tokens: pepe, toko

Malaysia Trending Tokens: btc, ftx

c) East Asia and Hong Kong, Macau, and Taiwan

Trending Keywords: crypto news, fear and greed index crypto

20.Google Trends Surge — English-speaking Countries, Europe, CIS Region

a) CIS Region

Trending Keywords: Crypto Bubbles, crypto news

b) English-speaking Countries

USA Trending Tokens: grape, snek

Australia Trending Tokens: btc, luna

Canada Trending Tokens: ada, avax

UK Trending Tokens: ribbit, azeri

c) Europe

Poland Trending Tokens: zonda, luna, his, gala

Spain Trending Tokens: luna, and, elrond, gala

Italy Trending Tokens: hi

France Trending Tokens: czero, xrp, shib, rad, chz, algo, id

Germany Trending Keywords: mica, pepe

Turkey Trending Tokens and Keywords: tradingview, crypto news

21.Google Trends Surge — Middle East, Latin America, Africa

a) Africa

Trending Keywords: crypto news, crypto marketcap, uniswap;

Trending Tokens: btc

b) Middle East

Trending Keywords: binance, coinmarketcap, coingecko

c) Latin America

Brazil Trending Tokens: aave

Argentina Trending Tokens: shib, trx, luna

Mexico Trending Keywords: cake, btc