In the past 24 hours, many new popular currencies and topics have appeared in the market, which may be the next opportunity to make money, including:
The sectors with relatively strong wealth-creating effects are: Meme sector, AI sector, and ETH ecological projects
Hot searched tokens and topics by users: UXLINK, ETH, JD Vance
Potential airdrop opportunities include: Sonic, Solayer
Data statistics time: July 16, 2024 4: 00 (UTC + 0)
1. Market environment
In the past 24 hours, BTC has been on a unilateral rise, with the price of BTC rising continuously from $62,000 to the current level of $64,500. BTC spot ETF has had net inflows for the seventh consecutive trading day, with a net inflow of $300 million yesterday, becoming the main driving force for BTCs rise. Balchunas, a well-known ETF analyst at Bloomberg, said on social media that the SEC requires ETF issuers to submit the final version of the S-1 document before Wednesday this week, which means that the SEC will announce the approval results next Monday, and the relevant ETF may be launched next Tuesday.
On the news level, BlackRock CEO Larry Fink said on CNBC that I was wrong about Bitcoin five years ago, and reiterated that Bitcoin is digital gold and a legitimate financial instrument. Dell CEO forwarded the interview video of BlackRock CEO and said that BTC is fascinating. Trump appointed crypto-friendly JD Vance as his vice presidential candidate. The most influential KOLs in technology, finance, and politics stand for BTC, and market sentiment has turned optimistic.
2. Wealth-creating sector
1) Sector changes: Meme sector (PEPE, WIF, FLOKI)
main reason:
Blue-chip tokens such as ETH and SOL began to rebound;
The market is paying more attention to the Meme coin sector, and there are good gaming opportunities in the technical indicators of the Meme sector;
Rising situation: PEPE, WIF, and FLOKI rose by 26.4%, 23.2%, and 23.1% respectively within 24 hours;
Factors affecting the market outlook:
Price token trend: For PEPE, the trend of ETH tokens will affect the price of PEPE, because BONK on DEX is denominated in SOL. Continue to pay attention to the price trend of ETH and SOL. If ETH and SOL maintain an upward trend, you can continue to hold Meme assets in the relevant ecosystem.
Increase or decrease in open interest: The contract data on the tv.coinglass website can be used to understand the movement of major funds. In the past 24 hours, the open interest of PEPE has surged by 30%, mainly due to the increase in net long positions. The account long-short ratio has fallen below 1, indicating that major funds have opened long positions in PEPE through contracts. In the future, we can continue to pay attention to changes in contract data.
2) Sector changes: AI sector (ARKM, TAO, NEAR)
main reason:
As the overall crypto market rebounded, the AI sector took the lead in rebounding, mainstream AI tokens all rose steadily, and sector funds were active.
Dell is an active stock in the AI sector of the US stock market this round. The CEO pays attention to and retweets related to cryptocurrency, which makes the market continue to pay attention to the AI crypto asset sector.
Rising situation: ARKM, TAO, and NEAR rose by 10.5%, 5.5%, and 8.6% respectively within 24 hours;
Factors affecting the market outlook:
Large financing information in the primary market: ETHCC was held in Brussels as scheduled, and participating institutions paid attention to the primary trends of the AI sector. Sentient, an AI Model-related research project, completed a financing of US$85 million, and the market once again paid attention to the effective combination of AI ecology and blockchain.
Actions of traditional technology companies: OPENAI’s launch of new products often drives the rise of the AI sector. Currently, this track is still in its early stages and requires stimulus from news to continuously raise valuations in the secondary market.
3) Sectors that need to be focused on in the future: ETH ecosystem projects (UNI, LDO, PEPE)
The main reason is that the S-1 document of the ETH spot ETF may be officially launched in the US capital market on July 23, and ETH ecological assets may have room for speculation. Recently, the track has experienced a large correction and has fallen out of layout space;
Specific currency list:
UNI: The first DeFi Swap project on blockchain applications. Uniswap’s average daily revenue in the past was around $1 million, which is a considerable income.
LDO: The leading LSD project in the ETH ecosystem, with a TVL of 29.6 billion US dollars and a valuation of less than 1.8 billion US dollars, is relatively undervalued;
PEPE: Currently, it is the most hyped meme coin in the ETH ecosystem. It has a very strong community foundation and is likely to continue to rise along with the ETH price.
3. User Hot Searches
1) Popular Dapps
UXLINK:
Web3 social platform and infrastructure UXLINK announced that it will be listed on 8 exchanges including Bitget, OKX, Bybit, Gate, KuCoin, etc. at 4 pm Singapore time on July 18. According to information disclosed by UXLINK officials, the project currently has more than 15 million registered users, covering 110,000 Telegram groups, and 8 million users on the chain. The project has made a profit and will continue to invest profits in the community and ecosystem.
2) Twitter
ETH:
Three sources said that the US SEC has given preliminary approval to at least three of the eight asset management companies to launch ETH ETF transactions. Final approval depends on whether the applicant can submit final issuance documents to the regulator before the end of this week. Affected by the good news, ETH and ETH ecological tokens have risen significantly.
3) Google Search Region
From a global perspective:
JD Vance:
According to a recently exposed video, JD Vance, the Republican vice presidential candidate, once fiercely criticized the crypto regulatory policy of Gary Gensler, chairman of the U.S. Securities and Exchange Commission, and said that his approach to regulating the cryptocurrency market is completely contrary to ideal policy. The market expects that if JD Vance is elected, it will be conducive to the introduction of crypto-friendly policies.
From the hot searches in each region:
(1) There was no obvious commonality in the hot searches in various regions of Asia yesterday. It is worth noting that the Philippines began to pay special attention to Tesla, Nvidia and other top market capitalization stocks in the US stock market.
(2) JD Vance appeared on the hot searches in many countries in Europe and the United States. JD Vance is the vice presidential candidate of the Republican Party in the United States. Some media have revealed that he holds BTC, and he has criticized the crypto regulatory policies of Gary Gensler, Chairman of the US SEC.
Potential Airdrop Opportunities
Sonic (zero-cost interactive testnet)
Sonic is a game chain based on Solana, which proposes the first expansion architecture HyperGrid, which can help game developers efficiently process and manage game status, logic and events. Sonic is 100% compatible with all EVM smart contracts and has a native game engine, providing game developers with comprehensive On-Chain game development components.
On June 18, 2024, Sonic completed a $12 million Series A financing round with a valuation of $100 million. Bitkraft led the investment, with participation from Galaxy Interactive, Big Brain Holdings and others.
How to participate: (1) Open the developer mode in the Backpack wallet preferences and add the Sonic Devnet test network; (2) Go to https://faucet.sonic.game/ to claim SOL test coins; (3) Enter the Sonic Odyssey mission page and follow the prompts to complete the social media account binding, daily check-in, game trial and other interactive steps.
Solayer
Solayer is building a restaking network on Solana. Solayer leverages its economic security and quality execution as a decentralized cloud infrastructure to enable higher degrees of consensus and blockspace customization for application developers.
In July 2024, Solayer announced the completion of the Builder Round of financing, and the specific investment amount was not disclosed. Investors include Solana Labs co-founder Anatoly Yakovenko, Solend founder Rooter, Tensor co-founder Richard Wu, etc.
Specific participation method: You can stake SOL and SOL LST (jitoSOL, mSOL, bSOL, INF) supported by some projects to obtain points for each episode. At the same time, please note: If the pledged assets are cancelled before expiration, the reward will be reduced.
Original link: https://www.bitget.com/zh-CN/research/articles/12560603812802
【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.
