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Bitget Research: Traditional Finance Giant Franklin Templeton Files for Spot Bitcoin ETF, Positive News Halt Crypto Market Decline
Bitget Research
2023/09/13
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:
OSMO (Token) - A new Telegram Bot project with a market cap of less than US$2 million. It currently features Bridge Swap, Token Creation, and Mev Blocker functions. The bot's user count surged past 9000 over the weekend and continues to grow. The recent token issuance event by
Banana Gun has drawn significant attention to the Telegram Bot sector.
FINE (Token) - FINE is a
memecoin that has seen significant on- XCNUSDT">
chain trading activity in recent days and currently has 3406 holders. The original version carries risks such as external contract calls, adjustable anti-whale settings, modifiable transaction taxes, and whitelist mechanisms. However, the contract has been renounced.
GWM (Token) - Great Wall Chain, a rug token with 12,438 transactions in the past 24 hours. The contract is not open-sourced, posing an extremely high risk, and it plummeted over 99% in just 15 minutes. A reminder to users: When trading on-chain, be cautious of the high risks associated with token contracts.
ARB (Token) - 1. ARB faced significant sell-offs from large whales the day before yesterday, resulting in a sharp 10% decline and hitting a new low. In contrast, OP, which rapidly expanded based on OP Stack, demonstrated better resilience and is more favored by the market in the short term; 2. The Arbitrum community previously submitted the "Short-Term Incentive Plan for Arbitrum" (AIP) proposal. The proposal aims to allocate up to 75 million ARB rewards from the DAO treasury to active Arbitrum protocols, addressing the community's short-term needs.
SOL (Token) - FTX intends to
sell crypto assets totaling US$3.4 billion, of which US$1.16 billion is in SOL. Upon the release of this news yesterday, the price of SOL experienced a significant drop. The U.S. Trustee at the U.S. Department of Justice has opposed FTX's motion to sell, pledge, and hedge digital assets. The hearing for FTX's motion is scheduled for September 13, and the outcome of the hearing may significantly influence the price trend of SOL.
2.Popular NFTs:
Avive Profile NFT (NFT) - Avive World aims to create a metaverse social network. Holding this profile NFT makes you eligible for VV token airdrops. They have recently completed an NFT Free Mint Event, and there are currently 95,000+ addresses holding it. Their Twitter following stands at 700K.
3.Popular DApps:
The Graph (DApp) - The Graph is a decentralized data indexing and query platform. It expanded to Arbitrum in February this year. On Thursday, September 14, at 1:00 PM (U.S. Eastern Time), The Graph community members will conduct a live broadcast in X Space, sharing their story "Scaling The Graph on L2".
stake.com (DApp) - On September 4, the crypto gambling platform Stake.com suffered a hacker attack, with potential losses reaching up to US$41.3 million. However, Stake.com did not disclose the exact stolen amount but assured that user funds were safe and all services were quickly restored. On September 11, the Stake.com attacker exchanged 2.59 million MATIC for 51.7 BTC.
BANANA (DApp) - Just over an hour after its launch, Telegram Bot project Banana Gun's token reached zero value. The project team will deploy a new contract and promise to compensate the affected parties. The project team stated on the X platform: "We have a bug in our contract we cannot hotfix. This bug allows people to sell their bags while having tax tokens remaining in their wallets. The first step is to sell the treasury wallet to drain the LP (which is locked), so we can reuse it for the new contract. Secondly, we will relaunch ASAP with an airdrop." Nonetheless, the popularity of Banana Gun is evident in its trading volume: On the ETH chain, BANANA had over 11K+ transactions and a trading volume surpassing US$17 million the day before yesterday, accounting for 6.1% of the total Uniswap V2 trading volume.
Odos (DApp) - A DEX aggregator that supports one-click token swapping. It has rapidly expanded across several mainstream chains and has over 500 liquidity sources. It maintains high daily activity in Arbitrum and has recently begun focusing on its expansion on Base. Data from @Base_Today on September 9th indicates that Odos Protocol ranked second in trading volume on Base, surpassed only by Balancer.
Aerodrome (DApp) - A ve(3,3) DEX on Base L2, developed and launched in collaboration with the Velodrome and Base teams. Initially, 40% of the circulating veAERO will be airdropped to veVELO users and will be locked for 4 years. The TVL grew rapidly after the product went live. It has since experienced a decline from its initial figure, currently standing at US$134 million.
Vertex (DApp) - Vertex Protocol, a decentralized trading platform built on Arbitrum, announced that it would initiate the VRTX token generation event in October.
Stargate (DApp) - Stargate is a liquidity transfer protocol and the core project of the LayerZero ecosystem. Yesterday, Stargate added support for the cross-chain transfers of $swETH asset between the ETH mainnet and the Arbitrum network. Today, the staking APY for Stargate's Arbitrum-based USDT and USDC pools reached approximately 15% and 10%, respectively (previously, the APY was around 4%). The TVL for these two pools is approximately US$23 million and US$29 million, respectively.
4.Twitter Hot Topics:
BEL (Token) - Bella Protocol, a platform for DeFi products, received approximately 3.9 million BEL tokens (around $2 million) in its Binance
deposit address from an address labeled "Bella Protocol: User Growth Funds" on September 1st. Bella Protocol's private placement distribution address also transferred about 5 million BEL tokens (approximately $2.55 million) to Binance on August 31st.
TWT (Token) - On September 11th, when a netizen asked CZ, "Besides Binance, which other exchanges do you like?", CZ replied, "I only use Binance or PancakeSwap. In fact, I'm not quite sure what TrustWallet uses on the backend. I also use TrustWallet." Following this, the TWT token price experienced a brief surge before declining.
5.Regional Trending Searches:
SPELL (Token) - The project team posted and conducted a vote on the governance forum, seeking DWF's participation in market-making. They also proposed lending tokens valued at US$1.8 million and selling US$1 million worth of tokens to DWF at a 15% discount. SPELL's open interest rapidly increased to over US$10 million, resulting in a significan t price increase.
Main Body
Written by: Bitget Research
Data collection time: September 13, 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
The BRC-20 sector doesn't have any particularly popular projects, and overall token prices are under pressure.
2.Blockchain Profile - ETH Chain
2.1 User Profile
2.1.1 Core Data
Total active users on ETH: 503,147
New active users on ETH: 73,371, with a daily increase of 4.76%
Existing active users on ETH: 429,776, with a daily increase of 20.59%
2.1.2 New User Profile
Core data: There were a total of 73,371 new active users on ETH yesterday, with a daily increase of 4.76%
Popular Sectors
Popular Projects
zkSync (DApp) - zkSync has upgraded the behavior of block.number, block.timestamp, and blockhash on zkSync Era as of September 7th. After the upgrade, block.number, block.timestamp, and blockhash will return the L2 block's number, timestamp, and hash value respectively. The upgrade is expected to last 40 to 60 days. During this period, the block production rate and timestamp refresh intervals will gradually increase.
2.1.3 Existing User Profile
Core data: The number of ETH active existing users is 429,776, with a daily increase of 20.59%
Popular Sectors
Popular Projects
stake.com (DApp) - On September 4, the crypto gambling platform Stake.com suffered a hacker attack, with potential losses reaching up to US$41.3 million. However, Stake.com did not disclose the exact stolen amount but assured that user funds were safe and all services were quickly restored. On September 11, the Stake.com attacker exchanged 2.59 million MATIC for 51.7 BTC.
2.2 Popular Trading Pairs
2.2.1 Uniswap V2
OSMO (Token) - A new Telegram Bot project with a market cap of less than US$2 million. It currently features Bridge Swap, Token Creation, and Mev Blocker functions. The bot's user count surged past 9000 over the weekend and continues to grow. The recent token issuance event by Banana Gun has drawn significant attention to the Telegram Bot sector.
FINE (Token) - FINE is a memecoin that has seen significant on-chain trading activity in recent days and currently has 3406 holders. The original version carries risks such as external contract calls, adjustable anti-whale settings, modifiable transaction taxes, and whitelist mechanisms. However, the contract has been renounced.
2.2.2 Uniswap V3
No new popular trading pairs emerged on UNI V3 yesterday.
3.Blockchain Profile - BSC Chain
3.1 User Profile
3.1.1 Core Data
Total active users on BSC: 1,035,727
New active users on BSC: 162,278, with a daily increase of 5.22%
Existing active users on BSC: 873,449, with a daily increase of 10.71%
3.1.2 New User Profile
Core data: There were a total of 162,278 new active users on BSC yesterday, with a daily increase of 5.22%
Popular Sectors
Popular Projects
Battle Showdown (DApp) - Battle Showdown is a cross-IP platform shooting game. Partnering NFT projects can easily integrate their NFTs into the game. The community can test their skills against each other in a tournament mode or engage in battles with other community members in a free-for-all PvP mode.
3.1.3 Existing User Profile
Core data: The number of BSC active existing users is 873,449, with a daily increase of 10.71%
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
GWM (Token) - Great Wall Chain, a rug token with 12,438 transactions in the past 24 hours. The contract is not open-sourced, posing an extremely high risk, and it plummeted over 99% in just 15 minutes. A reminder to users: When trading on-chain, be cautious of the high risks associated with token contracts.
4.Blockchain Profile - Polygon Chain
4.1 User Profile
4.1.1 Core Data
Total active users on Polygon: 393,714
New active users on Polygon: 70,614, with a daily decrease of 50.16%
Existing active users on Polygon: 323,100, with a daily decrease of 7.16%
4.1.2 New User Profile
Core data: There were a total of 70,614 new active users on Polygon yesterday, with a daily decrease of 50.16%
Popular Sectors
Popular Projects
PENTON (Token) - Numerous transfer activities were observed on-chain for this project. No related project backing or support for these actions has been identified. Caution is advised for this project.
4.1.3 Existing User Profile
Core Data: The number of Polygon active existing users is 323,100, with a daily decrease of 7.16%
Popular Sectors
Popular Projects
OPEX (Token) - OPEX offers flexible, open-source
blockchain technology. It helps users move their assets to the blockchain by converting funds into stablecoins. Multiple on-chain transactions for the token occurred a day ago. The token is not listed on any DEX, and its trading intent is unclear.
4.2 Popular Trading Pairs
4.2.1 Uniswap V3
The Polygon chain hasn't had any popular trading pairs lately.
5.Blockchain Profile - Arbitrum Chain
5.1 User Profile
5.1.1 Core Data
Total Active Users on Arbitrum: 134,112
New Active Users on Arbitrum: 19,857, with a daily increase of 7.61%
Existing Active Users on Arbitrum: 114,255, with a daily decrease of 2.65%
5.1.2 New User Profile
Core data: There were a total of 19,857 new active users on Arbitrum yesterday, with a daily increase of 7.61%
Popular Sectors
Popular Projects
Avive Profile NFT (NFT) - Avive World aims to create a metaverse social network. Holding this profile NFT makes you eligible for VV token airdrops. They have recently completed an NFT Free Mint Event, and there are currently 95,000+ addresses holding it. Their Twitter following stands at 700K.
The Graph (DApp) - The Graph is a decentralized data indexing and query platform. It expanded to Arbitrum in February this year. On Thursday, September 14, at 1:00 PM (U.S. Eastern Time), The Graph community members will conduct a live broadcast in X Space, sharing their story "Scaling The Graph on L2".
5.1.3 Existing User Profile
Core data: The number of Arbitrum active existing users is 114,255, with a daily decrease of 2.65%
Popular Sectors
Popular Projects
LayerZero (DApp) - Recently, the focus on LayerZero has been its lawsuit with FTX. FTX aims to recover US$86 million from LayerZero through a lawsuit, including the revocation of transactions made during bankruptcy. The CEO of LayerZero stated that FTX's decision to file a lawsuit is merely a tactic to receive more legal fees, not to settle the issue.
5.2 Popular Trading Pairs
5.2.1 Uniswap V3
ARB (Token) - 1. ARB faced significant sell-offs from large whales the day before yesterday, resulting in a sharp 10% decline and hitting a new low. In contrast, OP, which rapidly expanded based on OP Stack, demonstrated better resilience and is more favored by the market in the short term; 2. The Arbitrum community previously submitted the "Short-Term Incentive Plan for Arbitrum" (AIP) proposal. The proposal aims to allocate up to 75 million ARB rewards from the DAO treasury to active Arbitrum protocols, addressing the community's short-term needs.
6.Blockchain Profile - Base Chain
6.1 User Profile
6.1.1 Core Data
Total Active Users on Base: 70,261
New Active Users on Base: 15,004, with a daily increase of 38.39%
Existing Active Users on Base: 55,257, with a daily decrease of 1.85%
6.1.2 New User Profile
Core data: There were a total of 15,004 new active users on Base yesterday, with a daily increase of 38.39%
Popular Sectors
Popular Projects
Odos (DApp) - A DEX aggregator that supports one-click token swapping. It has rapidly expanded across several mainstream chains and has over 500 liquidity sources. It maintains high daily activity in Arbitrum and has recently begun focusing on its expansion on Base. Data from @Base_Today on September 9th indicates that Odos Protocol ranked second in trading volume on Base, surpassed only by Balancer.
6.1.3 Existing User Profile
Core data: The number of Base active existing users is 55,257, with a daily decrease of 1.85%
Popular Sectors
Popular Projects
Aerodrome (DApp) - A ve(3,3) DEX on Base L2, developed and launched in collaboration with the Velodrome and Base teams. Initially, 40% of the circulating veAERO will be airdropped to veVELO users and will be locked for 4 years. The TVL grew rapidly after the product went live. It has since experienced a decline from its initial figure, currently standing at US$134 million.
7. DApp Ecosystem - All Chains
Sweat Economy (DApp) - A traditional Web2 project that has transitioned to a Web3 wallet and a "Move to Earn" project, with currently 5 million downloads on Google Play. The community has voted to gradually burn 1.8 billion $SWEAT tokens. On September 6, it was announced that 110 million $SWEAT tokens have been burned. According to its whitepaper, the project team will burn a total of 1.8 billion tokens.
8.DApp Ecosystem - ETH Chain
Stargate (DApp) - Stargate is a liquidity transfer protocol and the core project of the LayerZero ecosystem. Yesterday, Stargate added support for the cross-chain transfers of $swETH asset between the ETH mainnet and the Arbitrum network.
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
Galxe (DApp) / GAL (Token) - Galxe Protocol, a permissionless self-sovereign identity infrastructure supported by zero-knowledge proofs was recently launched. Numerous new projects have entered Galxe based on this protocol. Bithumb announced the addition of a KR
W trading pair for GAL the day before yesterday. Despite the recent market downturn, GAL's decline has been limited. Following the significant decline in the market, it was among the first to rebound, rising by 20%.
11.DApp Ecosystem - WAX Chain
UAW changes for projects on the
WAX chain are minimal, with data showing normal fluctuations.
12.DApp Ecosystem - Solana Chain
SOL (Token) - FTX intends to sell crypto assets totaling US$3.4 billion, of which US$1.16 billion is in SOL. Upon the release of this news yesterday, the price of SOL experienced a significant drop. The U.S. Trustee at the U.S. Department of Justice has opposed FTX's motion to sell, pledge, and hedge digital assets. The hearing for FTX's motion is scheduled for September 13, and the outcome of the hearing may significantly influence the price trend of SOL.
13.DApp Ecosystem - Arbitrum Chain
zkLink (DApp) - zkLink is a unified multi-chain transaction infrastructure secured by zk-SNARKS. It supports next-generation decentralized trading products such as order book DEXs, NFT marketplaces, and more. zkLink has developed a ZK-Rollup middleware that can natively connect to various L1 and L2 solutions, offering a range of APIs. Developers can easily deploy highly customizable trading DApps and access aggregated liquidity.
14.DApp Ecosystem - Base Chain
friend.tech (DApp) - Trading activity for friend.tech has increased once again since September 9th. The total protocol fees have soared to nearly 4417 ETH, with a single-day trading volume of 356,979 on September 12th. This might be related to expected token launch, which deserves special attention. On September 11th, NFT whale Dingaling announced on the X platform a new lottery event for the friend.tech Key holders. The prize is 4 Azuki Elementals NFTs, further boosting the popularity of friend.tech.
15.DApp Ecosystem - GameFi Sector Across All Chains
Sweat Economy was described earlier in the report.
16.Gas Fee Consumption - ETH Chain
BANANA (DApp) - Just over an hour after its launch, Telegram Bot project Banana Gun's token reached zero value. The project team will deploy a new contract and promise to compensate the affected parties. The project team stated on the X platform: "We have a bug in our contract we cannot hotfix. This bug allows people to sell their bags while having tax tokens remaining in their wallets. The first step is to sell the treasury wallet to drain the LP (which is locked), so we can reuse it for the new contract. Secondly, we will relaunch ASAP with an airdrop." Nonetheless, the popularity of Banana Gun is evident in its trading volume: On the ETH chain, BANANA had over 11K+ transactions and a trading volume surpassing US$17 million the day before yesterday, accounting for 6.1% of the total Uniswap V2 trading volume.
17.Gas Fee Consumption - BSC Chain
Seg Finance (DApp) - The contract address of the CrazyShoes Mall. It is related to the BRC-20 standard token SEG (Shoe Elimination Game). This token has over 20,000 holders, with 95% of the chips concentrated in one EOA address.
18.Gas Fee Consumption - Polygon Chain
Cointool (DApp) - The contract associated with XEN. XEN has been extremely active on the Polygon chain, quickly becoming one of the top projects in terms of gas consumption. The related minting tool, Cointool_App, also ranks high in gas consumption. Currently, XEN's price is at an all-time low, but there's still over US$1 million in liquidity on-chain. Overal l trading activity is relatively low.
19.Gas Fee Consumption - Arbitrum Chain
Vertex (DApp) - Vertex Protocol, a decentralized trading platform built on Arbitrum, announced that it would initiate the VRTX token generation event in October.
20.Gas Fee Consumption - Base Chain
FriendTech was described earlier in the report.
21.Twitter Trends Token Top Rank
BEL (Token) - Bella Protocol, a platform for DeFi products, received approximately 3.9 million BEL tokens (around $2 million) in its Binance deposit address from an address labeled "Bella Protocol: User Growth Funds" on September 1st. Bella Protocol's private placement distribution address also transferred about 5 million BEL tokens (approximately $2.55 million) to Binance on August 31st.
TWT (Token) - On September 11th, when a netizen asked CZ, "Besides Binance, which other exchanges do you like?", CZ replied, "I only use Binance or PancakeSwap. In fact, I'm not quite sure what TrustWallet uses on the backend. I also use TrustWallet." Following this, the TWT token price experienced a brief surge before declining.
22.Google Trends - Global
SPELL (Token) - The project team posted and conducted a vote on the governance forum, seeking DWF's participation in market-making. They also proposed lending tokens valued at US$1.8 million and selling US$1 million worth of tokens to DWF at a 15% discount. SPELL's open interest rapidly increased to over US$10 million, resulting in a signific
ant price increase.
23.Google Trends Surge - East Asia, South Asia, Southeast Asia, Hong Kong, Macau, and Taiwan
a) South Asia Region
India Trends: UNI, TRB
Pakistan Trends: FTT
b) Southeast Asia Region
Malaysia Trends: FTT
Singapore Trends: token 2049
Indonesia Trends: crypto miner, airdrop, coingecko
c) East Asia and Hong Kong, Macau, and Taiwan
South Korea Trends:
crypto mining, crypto casino
Japan Trends: crypto bubbles, betfury
24.Google Trends Surge - English-speaking Countries, Europe, CIS Region
a) CIS Region Trends: crypto summit 2023
b) English-speaking Countries
Canada Trends: SHELL, HNT, Lionel
Messi
UK Trends: MM, CODA
USA Trends: crypto punks, SPELL, VET
Australia Trends: ICP, argo share price, metamask
c) Europe
Spain Trends: XLM, SPELL, PUSD, SHIB, PERP, VRA, ETC
Germany Trends: UNI, SHIB, PI, WSM
France Trends: GMX, FTM, SPELL, MKR, OSMO, TRB
Italy Trends: ULX, CKAE
Turkey Trends: selcoin, yuki crypto 50, crypto ramço twitter, coinmarketcap
25.Google Trends Surge - Middle East, Latin America, Africa
a) Africa
Nigeria Trends: crypto fixed matches, kraken, coinbase
South Africa Trends: valr, SHIB
b) Middle East Trends: crypto expo dubai
c) Latin America
Brazil Trends: GALA, SHIB, SOL, MATIC, AXS
Argentina Trends: SHIB
Mexico Trends: SHIB
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