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Bitget Research: Trump Delivers Positive Remarks at Bitcoin Conference, Neiro Leads the Surge in Solana Memecoin Sector

Tommy & Jarseed
2024/07/29
Bitget Research: Trump Delivers Positive Remarks at Bitcoin Conference, Neiro Leads the Surge in Solana Memecoin Sector
In the past 24 hours, many new popular tokens and topics have emerged in the market, which are likely to be the next wealth creation opportunities.

Overview

At the Bitcoin 2024 conference, Donald Trump made positive remarks, but the price fluctuations of BTC were minimal as the market had already anticipated the news. On the Solana blockchain, the 24-hour DEX trading volume exceeded the combined volumes of Ethereum and Arbitrum, with the price of SOL breaking past $190. This week, the focus is on the macroeconomic landscape and the U.S. stock market: the Federal Reserve is set to announce its interest rate decision, and major tech companies are scheduled to release their latest quarterly earnings reports.
  • Sectors with strong wealth creation effect: SOL and Solana ecosystem.
  • Top searched tokens and topics: Matr1x, Bitcoin, and Neiro.
  • Potential airdrop opportunities: Hamster Kombat and Tonstakers.
Data collection time: July 29, 2024, 4:00 AM (UTC)

1. Market Environment

At the Bitcoin 2024 conference, Donald Trump made optimistic statements including plans to retain government-held BTC as a strategic reserve if re-elected and predictions that Bitcoin's market cap will eventually surpass that of gold. Following these remarks, Bitcoin experienced a brief and minor price increase before falling, with overall fluctuations remaining small as the market had already anticipated these positive news. Bitcoin's DVOL index fell from 67 to 53.
On the Solana blockchain, the 24-hour DEX trading volume exceeded the combined volumes of Ethereum and Arbitrum, with the price of SOL breaking past $190. The launch of the Neiro concept memecoins has significantly boosted the memecoin trading volumes within the Solana ecosystem, with the top two Neiro tokens amassing over $550 million in DEX trading volume in the past 24 hours.
This week, the focus is on the macroeconomic landscape and the U.S. stock market: the Federal Reserve is set to announce its interest rate decision, and tech giants such as Microsoft, Apple, and Meta are scheduled to release their latest quarterly earnings reports.

2. Wealth Creation Sectors

2.1 Sector Movements – SOL and Solana Ecosystem

Primary reasons:
  • SOL has shown strong price performance, rebounding by 50% from its low over the past month. The SOL/BTC exchange rate increased by 20% and the SOL/ETH rate by 39% during the same period.
  • On July 28, Solana's 24-hour DEX trading volume surpassed the combined volumes of Ethereum and Arbitrum. On July 24, Solana's DEX trading volume over the past 30 days exceeded Ethereum's for the first time.
  • Over the weekend, the launch of the Neiro concept memecoins significantly boosted the memecoin trading volumes within the Solana ecosystem, with the top two Neiro tokens amassing over $550 million in DEX trading volume in the past 24 hours, noticeably outperforming the Nero tokens on the Ethereum chain.
  • The Solana Breakpoint 2024 conference is scheduled for September 20-21 in Singapore. Unlike other projects that typically decline in value around such events, SOL demonstrated remarkable surge in price around the 2023 Breakpoint conference, breaking through several key resistance levels from $30.
Gainers: SOL has risen by 4% in the past 24 hours, breaking through $190.
Factors affecting future market conditions:
  • Whether Solana DEX trading volume can be sustained and whether the activity within the Solana memecoin sector continues.
  • The ongoing innovation within the Solana ecosystem, including developments in Solana Blinks and updates from key projects around the time of Solana Breakpoint 2024.
  • With the launch of the spot Ethereum ETFs, the market needs fresh narratives and expectations. Until there is a clear outcome of the spot SOL ETF being a success or failure, any positive news about this event could serve as a catalyst for speculative trading.

3. Top Searches

3.1 Popular DApps

Matr1x
The Web 3 culture and entertainment platform MATR1X has announced an investment from the top-tier U.S. gaming fund, Makers Fund. The support from prominent investors like Makers Fund acknowledges MATR1X's mission to drive large-scale application of Web 3 and reshape the gaming industry. MATR1X also announced the tokenomics of MAX, the governance token of its platform. The total supply of MAX is set at 1 billion tokens, with 94 million MAX tokens to be airdropped to MATR1X platform NFT holders.

3.2 X (former Twitter)

Bitget Research: Trump Delivers Positive Remarks at Bitcoin Conference, Neiro Leads the Surge in Solana Memecoin Sector image 0
Bitcoin
Over the weekend, presidential candidate Trump attended the BTC conference in Nashville and declared that if elected president, he would establish a national strategic BTC reserve, and the U.S. would not sell any government-held BTC. Additionally, Senator Cynthia Lummis proposed that the Treasury purchase 1 million BTC. This news drove Bitcoin to break through $69,000, leading to extremely optimistic market sentiment.

3.3 Google Search (Global and Regional)

Bitget Research: Trump Delivers Positive Remarks at Bitcoin Conference, Neiro Leads the Surge in Solana Memecoin Sector image 1
Global focus:
Neiro:
Neiro, the name of a newly adopted dog by the adopter of the famous Doge, has become a highly popular memecoin on the Solana blockchain. On its debut day, Neiro saw trading activity close to $600 million, creating numerous wealth generation stories. However, this memecoin still carries significant risks. For instance, multiple memecoins are named Neiro, leading to ongoing battles over the ticker symbol. Investors are advised to monitor its future performance closely.
Regional focus:
(1) There is no noticeable trend in Google Trends among Asian countries, with BTC, SHIBA, and some memecoins becoming the focus of market attention. Market websites like CoinGlass and CoinMarketCap also ranked high in searches across Asian countries.
(2) In the CIS region, memecoins like BLUM are trending in hot searches. In contrast, Europe and the USA are primarily focused on recently popular projects and sectors, such as Dogi and Floki.

4. Potential Airdrop Opportunities

Hamster Kombat
Hamster Kombat is a clicker game on Telegram, where players can earn tokens by tapping and through other methods of interaction. Players take on the role of a cryptocurrency exchange CEO, and by tapping on a hamster, they earn tokens which can be used to enhance their exchange and upgrade their hourly earnings. Future token airdrop rewards are possible, and players can also boost their earnings by subscribing to Telegram channels or inviting friends.
Currently, the game has over 150 million users globally, with 12 million followers on X and over 50 million on the official Telegram channel.
How to participate:
  • Tap to earn a fixed amount of Hamster Coins daily.
  • It is possible to use Hamster coins to buy combination cards to increase the passive earning of Hamster coins and claim daily Hamster coin airdrop packages, according to community updates.
  • Bitget has launched the Pre-Market, enabling users to place pre-market sell orders to directly secure profits.
Tonstakers
Tonstakers is the largest liquid staking service provider in the TON ecosystem. Users can stake their TON in the protocol to earn a 3.8% APY. The project currently boasts a TVL of $256 million, indicating a high potential valuation.
It has garnered attention from the Ton Foundation and currently has 68,000 stakers. Tonstakers collaborates with Ton's core developers, Tonkeeper, and OKX, which supports its potential for future token issuance.
How to participate: 1. Visit the project's official website and select Stake Now; 2. Connect your Ton wallet to stake.
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