Bitget Research Institute: zkSync plans to issue airdrops in mid-June, PEPE hits a record high

1 months ago
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Optimism continued to grow yesterday, with the altcoin market boosted by positive developments in Ethereum and PEPE hitting a new all-time high.

In the past 24 hours, many new hot currencies and topics have appeared in the market, and it is very likely that they will be the next opportunity to make money.

  • The sectors with strong wealth-creating effects are: MEME sector and mainstream currency sector;

  • The most popular tokens and topics searched by users are: Ethereum, Retik Finance;

  • Potential airdrop opportunities include: Myshell, LIFI;

Data statistics time: May 22, 2024 4: 00 (UTC + 0)

1. Market environment

Yesterday, optimism continued to heat up, and the U.S. Securities and Exchange Commission (SEC)s major shift in attitude towards the potential approval of a spot Ethereum ETF excited crypto investors and pushed the market to continue to rise. The altcoin market was boosted by the positive development of Ethereum, and the top 200 tokens by market value rose on Tuesday. Ethereum (ENS) performed best, up 29.3%, followed by SKALE (SKL) up 20.4%, Metis (METIS) up 16%, and MEME token PEPE hit a record high. At the same time, zkSync plans to generate tokens this week and airdrop in mid-June. The overall market benefit effect is very strong.

In the market, Bitcoin spot ETFs had a total net inflow of $241 million yesterday, continuing net inflows for 6 consecutive days; the deadline for the first round of spot Ethereum ETFs is approaching, and at least 5 spot Ethereum ETF issuers, including Fidelity, Invesco/Galaxy, Ark/21 Shares, and Franklin Clinton, have submitted revised 19 b-4 documents. The Nasdaq and SP 500 both hit record highs. As of the close, the SP, Dow Jones and Nasdaq all rose, up 0.25%, 0.17% and 0.22% respectively. Overall, the macro environment is relatively stable, and the wealth effect of the recent crypto market is expected to continue.

2. Wealth-making sector

1) Sector changes: MEME sector (PEPE, FLOKI, PEOPLE)

Main reason: Affected by the sentiment of the crypto market, the market has rebounded sharply recently, funds have begun to flow, and the market wealth effect has spilled over to the Meme sector; if the market maintains an upward trend, you can continue to pay attention to Meme assets. Currently, the assets in this track have a certain wealth effect.

Rising situation: PEPE hit a record high and rose 19%, FLOKI rose 12% in a single day, and PEOPLE rose 30%+ in a single day;

Factors affecting the market outlook:

  • Whether ETH continues to rise: ETH ecosystem Dex has good liquidity, and many tokens are denominated in ETH on DEX. The rise of ETH can be directly superimposed on the rise of ETH ecosystem assets. If the price of ETH continues to rise, the core assets on Ethereum can often maintain their popularity;

  • Community hype enthusiasm: PEPE is the most suitable hype group for American retail investors in terms of imagery. The group is easy to be sentimental. At the same time, PEPE is relatively active in trading, and its price is prone to surges and plunges. The main feature of PEOPLE is that the project owner has almost given up the project, but it still has a high hype popularity. The core reason for the recent surge in PEOPLE is the long squeeze. FLOKI, as an old MEME, has also been quite active recently, which is worth paying attention to.

2) Sector changes: mainstream currency sectors (BTC, ETH, SOL)

Main reasons: Capital markets and risk markets generally surged, with Nasdaq, Dow Jones and SP 500 all hitting record highs. The mainstream assets in the crypto industry, BTC, ETH and SOL, also cleared the haze of the past two weeks.

Rising situation: BTC hovered around $70,000, ETH rose 3%, and SOL broke through $180;

Factors affecting the market outlook:

  • Further positive news at the macro level: At present, the trend of mainstream crypto assets such as BTC basically shows a positive correlation with the liquidity of the US dollar. As the Federal Reserve gradually releases liquidity to the market, crypto assets will also gradually rise. However, in this process, investors should also pay attention to the Federal Reserves management of market expectations and keep up with the pace of policy;

  • ETF approval and ecosystem development: For ETH, whether the ETF can be approved in the near future is an important factor in determining whether ETH can break out of the trend market. For SOL, whether the ecosystem can continue to prosper and gain more market adoption is the core factor that determines whether SOL can continue to rise in the future.

3) The sector that needs to be focused on in the future: ETH ecosystem

The main reason is that the ETH ecosystem is relatively undervalued, and the ETH-BTC exchange rate has rebounded. With the release of ETF information and the SECs prosecution of related DeFi, there is room for the ETH ecosystem to expand.

Specific currency list:

  • UNI: The first DeFi Swap project on blockchain applications, which received the Wells Notice from the SEC last month. Uniswap will make a self-certification in the near future to form trading opportunities;

  • LDO: The leading LSD project in the ETH ecosystem, with a TVL of 34.5 billion US dollars and a valuation of less than 2.5 billion US dollars, is relatively undervalued;

  • OP: The Base chain is built using OP stack technology. Last year, the Base chain signed a profit-sharing agreement with the OP Foundation and indirectly obtained Coinbase endorsement.

  • PENDLE: The TVL of the project has continued to rise. The current TVL has reached 5.7 billion US dollars. The total market value of stablecoins has increased, and the popularity of the Restaking track has increased the demand for PENDLEs business in the bull market.

3. User Hot Searches

1) Popular Dapps

Whales Market: Whales Market launched the token issuance platform, which is based on the Solana network. Users can safely launch tokens in just a few seconds using the gamified liquidity bootstrapping function. Dexter, the founder of Whales Market, said on his social platform that he launched the first meme coin, GMCAT, on the platform. The meme coin is completely decentralized and is being airdropped to the pre-sale address and xWHALES holders. Since it is the first token, there may be a certain wealth effect.

2) Twitter

Bitget Research Institute: zkSync plans to issue airdrops in mid-June, PEPE hits a record high

Ethereum: According to Barrons, SEC staff have expressed to exchanges that they are inclined to approve Ethereum spot ETFs. Currently, five potential Ethereum spot ETF issuers have submitted revised 19 B-4 documents for proposed Ethereum spot ETFs to the U.S. Securities and Exchange Commission (SEC) through the Chicago Board Options Exchange (Cboe BZX). Updating the 19 b-4 filing is a key step, but more work needs to be done to ensure the final approval of the ETF. Potential issuers need to obtain S-1 application approval before the product begins trading. That is to say, there is a certain possibility that 19 b-4 and S-1 will be approved on May 23 at the same time, but the possibility is not great, and users can take profits in batches.

3) Google Search Region

Bitget Research Institute: zkSync plans to issue airdrops in mid-June, PEPE hits a record high

From a global perspective:

Retik Finance: Retik Finance is a decentralized finance (DeFi) project. The core functions and components of its ecosystem include the following three modules: DeFi debit card, Retik Pay and Retik wallet. After the launch yesterday, the transaction volume exceeded 10 million, and the on-chain transaction was very popular.

From the hot searches in each region:

(1) The hot search terms in various regions in Asia yesterday had no obvious focus or characteristics.

(2) The focus in Europe, America and Latin America is very scattered, including RWA, AI, ETH ecology and meme tokens.

(3) Discussions on “crypto bubbles” are very concentrated in Africa and the Middle East.

Potential Airdrop Opportunities


MyShell is a Web3-enabled AI platform that allows users to create personalized chatbots, called Shells. The platform is said to currently have about 50,000 creators and over 1 million registered users, and its ecosystem includes multiple tools and services such as OpenVoice, MeloTTS, and Alice. The project currently has a large user base and the official website has a clear airdrop plan, so you can participate early.

The project has a great financing background, with $11 million in Pre-A financing led by Dragonfly, and angel investors such as Bankless Ventures, Balaji, and Lllia. Previously, it completed a $5.6 million seed round of financing at a valuation of $57 million, with participation from INCE Capital, Hashkey Capital, and Folius Ventures.

Specific ways to participate in the airdrop: users can choose to register an account on the official website and exchange shell points by completing daily tasks, including creating a telegram robot, etc. Subsequent airdrop rewards will be based on shell points. Currently, the seventh season of points exchange tokens is underway, and you can continue to participate.


LI.FI is a multi-chain liquidity aggregation protocol that supports the exchange between any two assets by aggregating bridges and DEX aggregators from more than 20 networks including Ethereum, Arbitrum, Optimism, Solana, Polygon, Base, etc.

Cross-chain infrastructure protocol LI.FI completed a US$17.5 million Series A financing round, led by CoinFund and Superscrypt, with participation from Bloccelerate, L1 Digital, Circle, Factor, Perridon, Theta Capital, Three Point Capital, Abra and nearly 20 angel investors.

How to participate: Log in to the project website, conduct cross-chain swaps between multiple chains, maintain the activity of the wallet address and the transfer scale, and you can get potential airdrop opportunities.

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【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.

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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