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.
Bitcoin has risen 6.94% in the past 24 hours. The addition of new members to the Grayscale Trust and the legalization of crypto mining in Russia have contributed to the expansion of the rise in altcoins across the market, including:
The sectors with strong wealth-creating effects are: SUI ecology and new coin sectors;
The most popular tokens and topics searched by users are: Vessel, TON, Putin, SUI;
Potential airdrop opportunities include: LayerN, Elixir;
Data statistics time: August 9, 2024 4: 00 (UTC + 0)
1. Market environment
Bitcoin is up 6.94% in the past 24 hours and is currently trading at $61,200. Ethereum broke through $2,600, up 9.8% in the same period, ending a losing streak against BTC.
Crypto asset manager Grayscale has added Bittensor (TAO) and Sui Network (SUI) to its list of crypto investment products. Meanwhile, Russian President Vladimir Putin signed a bill legalizing cryptocurrency mining in the country. Russia appears to be taking steps to keep up with the United States. Bitcoin FOMO is heating up at the national level. Multiple positive news have contributed to the expansion of altcoin gains across the market.
2. Wealth-creating sector
1) Sector changes: SUI Ecosystem (SUI, SCA, CETUS)
main reason:
Crypto asset management company Grayscale has added Bittensor (TAO) and Sui Network (SUI) to its list of crypto investment products;
Its mainnet will integrate the DAG-based consensus algorithm Mysticeti, and the upgrade process will be carried out in several steps in the coming weeks.
Rising situation: SUI, SCA, and CETUS rose by 30.22%, 25.79%, and 19.12% respectively within 24 hours;
Factors affecting the market outlook:
Increase or decrease in open interest: Take SUI as an example. The open interest of SUI has been rising since its low level yesterday, indicating that hot money is pouring in. Through the contract data on the tv.coinglass website, we can understand the movement of the main funds. First, we should observe the increase in net long positions on the contract; then we should see whether the contract data shows a net increase in long positions, an increase in OI, and an increase in trading volume. If so, it means that the main force is continuously buying up and can continue to hold.
Impact of news: Pay attention to the product updates and partnerships recently promoted by the project party. If an AMA is held, you can consider deploying related assets in advance, because there is a high probability that good news will be released in the near future using the improved liquidity environment.
2) Sector changes: New coin sector (ZRO, ZK, REZ)
main reason:
New coins rebounded from oversold levels. The prices of high-market-cap new coins such as ZRO, ZK, and REZ were far lower than pre-market expectations amid negative market sentiment. As market sentiment was gradually digested, investment and pricing gradually returned to rationality, and ZRO, ZK, and REZ quickly rebounded.
Factors affecting the market outlook:
Whether new coin projects such as LayerZero, ZKsync, and Renzo 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.
3. User Hot Searches
1) Popular Dapps
Vessel
Vessel, a ZK order book trading platform, has completed a $10 million seed round of financing, with participation from Sequoia Capital, Scroll co-founders Sandy Peng and Ye Zhang, Avalanche Foundation, Algorand Foundation, IMO Ventures, Folius Ventures, Incuba Alpha, and a group of angel investors. The funds from this round of financing will be used to combine CEX efficiency with DEX transparency, improve liquidity efficiency, and develop advanced ZKP solutions for DeFi.
2) Twitter
TON
The TON public chain was originally called GRAM. The GRAM public chain was launched in 2019, but due to the SECs restriction order in 2019, GRAM investors and the team chose to postpone the token issuance. In 2021, the open source development team NEWTON resumed the operation of the GRAM ecosystem and named it The Open Network, changing the name of the token from GRAM to TON. Binance announced the launch of the TON token, and TON quickly rose by 10% to the current level of US$6.15. Bitget launched TON spot and contract assets relatively early, and users can trade TON tokens on Bitget.
3) Google Search Region
From a global perspective:
Putin: TASS revealed that Russian President Vladimir Putin signed a law legalizing cryptocurrency mining in Russia.
SUI: Grayscale has added Bittensor (TAO) and Sui Network (SUI) to its list of crypto investment products. Currently, SUIs trading volume and price have soared, with the token price rising 32.28% in 24 hours and ranking high on Twitter.
From the hot searches in each region:
(1) The hot searches in Asia are very scattered. XRP, Sanctum, and Aevo appear in the top search lists in Indonesia, the Philippines, Thailand, and Malaysia, respectively, with no universal characteristics.
(2) FLOKI is a hot search topic in Europe, America and the English-speaking world. In addition, AI projects are a key focus in several countries, including Spain, the United States and Germany.
Potential Airdrop Opportunities
LayerN
Layer N is a high-performance rollup network designed to scale financial applications on Ethereum. It consists of ultra-high-performance and customized modular rollups with best-in-class scalability and a shared communication layer for unified liquidity.
Layer N completed a $5 million seed round of financing, led by Founders Fund and dao 5.
How to participate: Log in to the project website, connect your wallet, bind your social media account, go to http://nord.layern.com, connect your wallet and trade ETH, repeat 4-8 times. Go to https://app.galxe.com/quest/layern/GCdcmthdaA…
Connect your wallet and complete the easiest tasks ever to claim your points.
Elixir
Founded in 2022, Elixir is a modular DPoS liquidity network that enables anyone to provide liquidity directly to the order book, bringing liquidity to long-tail crypto assets and allowing exchanges and protocols to bootstrap liquidity on their ledgers.
On March 12, 2024, Elixir completed an $8 million Series B financing round with a valuation of $800 million; on October 18, 2023, Elixir completed a $7.5 million Series A financing round; on January 17, 2023, Elixir completed a $2.1 million seed round of financing; investors include Hack VC, GSR, Sui, and Amber Group.
How to participate: Earn points by participating in Apothecary. You can deposit at least $100 in ETH to mint elxETH to unlock the treasure chest. elxETH is a native yield token backed by ETH at a 1:1 ratio. After the mainnet is launched, it will become a full-chain LP token to power the order book liquidity of the exchange. At the same time, you can provide liquidity to Elixir-supported protocols through https://agg.elixir.xyz/.
More information about Bitget Research Institute: https://www.bitget.fit/zh-CN/research
Bitget Research Institute focuses on focusing on on-chain data and mining valuable assets. It mines cutting-edge value investments through real-time monitoring of on-chain data and regional hot searches, and provides institutional-level insights for crypto enthusiasts. So far, it has provided Bitgets global users with early-stage valuable assets in multiple popular sectors such as [Arbitrum Ecosystem], [AI Ecosystem], and [SHIB Ecosystem]. Through in-depth data-driven research, it creates a better wealth effect for Bitgets global users.
【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.
