Bitget Research Institute Weekly News: The BRC20 sector continues to be strong, and BGB bucks the trend and soars to a record high

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Focus on on-chain data and take stock of the latest news every week.

In the past week (11.13-11.17), many new popular currencies and topics have appeared in the market.

1.Market Trends

This week (11.13-11.17) the market’s most focused topics are:

  • Bitcoin rebounds after falling below 36,000, Polygon inscription is hot, causing Gas to surge

  • Bitcoin’s V-shaped rebound approaches 38,000, and the probability of the Fed keeping interest rates unchanged in December rises to 94.5%

  • USDTThe total market capitalization exceeded US$87 billion, reaching a new high, and the BRC 20 sector continued to be strong

  • The market retreated and awaited CPI data, BGB bucked the trend and surged to a record high

  • ETHEcological projects rebounded sharply, and the BRC-20 sector continued to be active

2.Popular Projects

The most popular projects this week (11.13-11.17) are:

SATS(Token):The BRC 20 token, which is currently the most actively traded, has a transaction volume of about 5.2 million US dollars on the chain in the past 24 hours. The current price has dropped by more than 10%, and it has been listed on many centralized exchanges.

RATS(Token):The BRC-20 track represents a meme-type token of a rat. Affected by the recent influx of track funds, the transaction volume of this token on the chain has increased sharply, with a 24-hour transaction volume of 96BTC(approximately US$1.56 million), becoming the second largest traded token on the BRC 20 track chain, with a market value of US$49 million.

GROK(Token):GROK is a MEME token with the same name based on the artificial intelligence model GROK launched by Elon Musk’s company The price of the token has rebounded significantly in the past two days, once rebounding 60%, and its current market value is US$66 million.

MUBI(Token):A relatively popular project recently, the project mainly focuses on cross-chain BRC 20 and ERC 20 tokens. The project conducted an IDO on Bounce and received official comments from DWF Labs. Since the BRC 20 token is currently relatively popular, the entry point for this project is more precise. At present, the project contract has been open sourced. The transaction volume in the past 24 hours has been about 13 million US dollars and the market value is 14 million US dollars. It is recommended to stay tuned.

Azuki(NFT):The current blue-chip projects in the NFT market, CryptoPunks, BAYC, Pudgy Penguins, and Azuki, have all rebounded to a certain extent. As the market improves, the increase in ETH has increased the USDT value of NFT, and market players enthusiasm for NFT has gradually recovered.

The Captainz(NFT):Memeland’s NFT has seen a surge in trading volume as the price of the $MEME coin rises. Memeland stated on social platforms that Memeland has never had a roadmap, but has been constantly improving and updating its strategic direction. The following five goals represent the focus of the next phase of development: products, events, NFT, integration and SWAG.

Circle(Dapp):Circle has begun talks with advisers to consider an IPO early next year. Due to its main product USDCStablecoinThe market share continues to shrink, and the market share dropped to less than 19%, which is far lower than the level when the company withdrew its public listing in December last year, and is facing great challenges for IPO. Today we announced a strategic investment in Sei Network to support the launch of native USDC on the network.

Maestro(Dapp):As a well-known on-chain bot, Maestro is deeply loved by users in the crypto community. Maestro has a first-mover advantage and a good user base. At present, Maestros daily handling fees have increased to the previous high, reaching 150,000-200,000 US dollars, maintaining the top position in the BOT track.

Dmail(Dapp):Dmail is an email application based on Web3.0 and Dfinity technology, which integrates NFT functions andDistributed storage, each account is itself an NFT. This project aims to eliminate the differences between traditional email systems and blockchain-based email systems, thereby lowering the barriers for users and developers to participate in the crypto world. Dmail is designed to make using blockchain technology as easy and intuitive as the Internet.

3. Hot Searches

The most popular topics this week (11.13-11.17) are:

 AVAX(Token):Avalanche Twitter announced a partnership with JPMorgan Chase. Specifically, JPMorgan Chase’s digital asset platform Onyx has reached a cooperation with the alternative asset management company Apollo. The cooperation between the two will utilize the full-chain interoperability protocol LayerZero, thus integrating Onyx with the licensed Avalanche Evergreen subnet. Connected to facilitate the subscription and redemption of funds provided by Wisdom Tree Prime, a tokenized asset application. The price of AVAX token has risen by 50% in the past three days.

XRP(Token):According to Bloomberg, a registration document for the iShares XRP Trust that appeared on the official website of Delaware today and claimed to be submitted by the asset management giant BlackRock attracted market attention. XRP rose by nearly 13% in a short time after the news spread. . But a spokesperson for BlackRock made it clear that the document was false information and had nothing to do with BlackRock. according tobitgetAccording to market data, the current quotation is 0.66, which has basically given up all the gains.

KAS(Token):Kaspa has become the second largest computing power network after BTC. It has increased by 1920% in the past year and continues to hit new highs. Yesterday, Binance launched the KAS contract. The current 24-hour trading volume of the entire network is US$240 million and the market value is US$2.85 billion.

Bitget Research Institute focuses on focusing on on-chain data and mining value assets. Through real-time monitoring of on-chain data and regional hot searches, it explores cutting-edge value investments and provides institutional-level insights for crypto world enthusiasts. So far, it has provided Bitget global users with early value assets in many popular sectors such as [Arbitrum Ecosystem], [AI Ecosystem], [SHIB Ecosystem], etc., and created better wealth for Bitget global users through in-depth data-driven research. effect.

[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.

Original article, author:Bitget研究院。Reprint/Content Collaboration/For Reporting, Please Contact;Illegal reprinting must be punished by law.

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