Bitget Research Institute: BTC failed to break through $64,000 and continued to pull back. It is difficult for the Ethereum ETF to have a wealth effe

In the past 24 hours, many new popular currencies and topics have appeared in the market. It is very likely that they will be the next wealth-making opportunities. The wealth effect has weakened. Among them, there are some with certain wealth effects:

• Sectors with strong wealth creation effects are: New coins (ZRO, ZK), ETH ecosystem (ENS, SSV)

• Hot search tokens and topics by users: Sanctum, Astar Network, Pendle

• Potential airdrop opportunities include: Hamster Kombat, Sanctum

Data statistics time: July 3, 2024 4: 00 (UTC + 0)

1. Market environment

Yesterday, Bitcoin briefly fell below $62,000. The market is currently in a continuous downward volatile trend, and the wealth effect is weakening. Investors need to remain cautious. At the same time, yesterday, 9 Bitcoin ETFs increased their holdings by a total of 2,372 Bitcoins, worth approximately $147.78 million, and have had net inflows for several consecutive days. CryptoQuant data shows that Bitcoins computing power has currently fallen by 7.6%, which has fallen to its lowest level since December 2022. In addition, other indicators such as Bitcoin exchange reserves, miner position index (MPI) and Bitcoin miner reserves also support the market bottoming out, indicating that bitcoin selling pressure is low.

In the market, The ETF Store predicts that the Ethereum spot ETF may be launched in the week of July 15, and the US SEC commissioner called for an update to the S-1 form to better accommodate the uniqueness of cryptocurrencies.

2. Wealth-making sector

1) Sector changes: New coins (ZRO, ZK)

main reason:

New coins have not fallen along with the general market decline. The prices of high-market-cap new coins such as ZRO and ZK have been far below pre-market expectations under the negative market sentiment. As market sentiment is gradually digested, investment and pricing gradually return to rationality. ZRO and ZK have strong support during the general decline of altcoins.

Rising situation: ZRO and ZK rose by 3.4% and 3% respectively within 24 hours;

Factors affecting the market outlook:

Whether new coin projects such as LayerZero and ZKsync can take further actions to release positive factors to continuously stabilize the coin price, and the extent to which the markets negative sentiment is digested will directly affect the price of the new coin.

2) Sectors that need to be focused on in the future: ETH ecosystem (ENS, SSV)

main reason:

• Nate Geraci, president of The ETF Store, predicted the launch time of the Ethereum spot ETF. He said that Bloombergs forecast is still mid-July, the revised S-1 is expected to be submitted on July 8, and the final S-1 may be submitted on July 12, which theoretically means it will be launched in the week of July 15.

• Even in the market news on June 29, the US SEC considered the Lido and Rocket Pool staking projects to be securities, which led to the decline of LDO and RPL, it failed to stop the rise of ETH ecological tokens such as ENS and SSV during the market rebound. ENS broke through the highest level in the past 29 months.

Factors affecting the market outlook:

The news about ETH spot ETF will directly affect the price of ETH and the trend of well-known projects in the ETH ecosystem. In addition, after the SEC announced that it “believes that Lido and Rocket Pool staking projects are securities”, whether it will further include SSV and other projects in the scope of securities considerations will also have a significant impact on the projects in this track.

3. User Hot Searches

1) Popular Dapps

Sanctum: Sanctum is the LST liquidity aggregation protocol of the Solana ecosystem. It previously announced the CLOUD token economics, with 10% of the token supply allocated to the initial airdrop. Founder FP Lee posted on the social platform that half of the airdrop (5%) will be distributed according to the proportion of Wonderland XP. The other half (5%) will be distributed according to Earnestness. Since the project has a cumulative TVL of more than 870 million US dollars, it is the fifth largest project in the Solana ecosystem TVL, and users can consider participating in its staking activities.

2) Twitter

Astar Network: Astar Network will destroy 350 million ASTR, 5% of the total supply. These tokens were originally allocated to the Polkadot parachain auction, which was later shelved by Polakdot. 350 million tokens generated 70 million ASTR rewards, which will now be transferred to the community treasury. The large amount of tokens that are about to be destroyed has aroused the concern of the community.

3) Google Search Region

From a global perspective:

Pendle: According to Bitget market data, PENDLE fell below $4.1 and is now quoted at $4.08, a 24-hour drop of 17.4%. The main reason for the drop is that the Pendle markets of Ether.Fis eETH, Renzos ezETH, Puffer pufETH, Kelps rsETH and Swells rswETH ended last Thursday. Pendles TVL fell by 40% last week, with more than $3 billion of user funds outflow.

From the hot searches in each region:

(1) Yesterday, no countries in Asia showed any obvious hot altcoins. There was no fixed pattern in the projects that each country was paying attention to. They were distributed from layer 1, memecoin to market software, but the overlap was low.

(2) European and American countries: English-speaking countries still maintain a relatively fixed focus on public chains. For example, projects such as inj, sui and monad have remained on the hot search list for a long time. The United States pays more attention to meme coins, with pepe, hero and trump all on the list. The Netherlands and Poland in Europe still have a strong interest in Solana.

4. Potential Airdrop Opportunities

Hamster Kombat

Hamster Kombat is a click game based on Telegram. Players can purchase replacement coins by clicking and other means. Players play the role of the CEO of a cryptocurrency exchange. Just click on the hamster on the screen on Telegram to get gold coins. By earning gold coins to strengthen the exchange and upgrade hourly profits, you will be able to get token airdrop rewards in the future. Players can also increase their income by subscribing to Telegram channels, inviting friends, etc.

The project currently has more than 150 million users worldwide. In terms of social media, the number of followers on Twitter is 5.515 million, and the number of followers on the tg official channel is over 26 million.

Participation method: Enter the main screen of the mini program through the telegram link, click the hamster in the middle to get gold coins, click three times to open the hidden function: after opening, the background will turn red, enter the Morse code, and those who answer correctly will earn 1,000,000 per day. Click to upgrade the card for hourly income (an important basis for airdrops). If you upgrade to three daily cards, you can earn 5,000,000 more gold coins.

Sanctum

Solana Ecosystem LST Protocol Sanctum officially announced the launch of the loyalty program Sanctum Wonderland. According to reports, Sanctum Wonderland aims to make full use of SOL to gain benefits through a gamified experience. Users can collect pets and earn experience points to upgrade by staking SOL, and earn EXP through pets.

Previously, the Solana ecosystem liquidity staking service protocol Sanctum completed its seed round extension round of financing, led by Dragonfly, with participation from Solana Ventures, CMS Holdings, DeFiance Capital, Genblock Capital, Jump Capital, Marin Digital Ventures and others. The total financing has now reached US$6.1 million.

Specific participation method: open the link, connect the wallet, fill in the invitation code, ② exchange Sol for Infinity, deposit at least 0.122 SOL + 0.05. The deposit wallet needs to prepare at least 0.172 SOL, and deposit at least 0.11 SOL. The pet will automatically grow and earn EXP. Once the LST balance is lower than 0.1 SOL, the pet will enter hibernation and stop earning EXP. Those who are capable are recommended to deposit more than 1 SOL. 1 SOL will earn 10 EXP per minute, which can be withdrawn at any time, and the GAS fee is extremely low.

Original link: https://www.bitget.com/zh-CN/research/articles/12560603812140

【Disclaimer】The market is risky, so be cautious when investing. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions in this article are suitable for their specific circumstances. Investing based on this information is at your own risk.