Bitget Research Institute: BTC contract funding rate turns negative, market liquidity is extremely poor and there is a r

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: TON ecology, AI sector

• Hot searched tokens and topics: CARV, ZKsync, BGB, Velodrome

• Potential airdrop opportunities include: Magic Eden Wallet, RedStone

Data statistics time: June 18, 2024 4: 00 (UTC + 0)

1. Market environment

In the past 24 hours, the overall crypto market fell, altcoins fell sharply, BTC and ETH were under pressure, BTC hit the lowest mark of 65,500 US dollars, and then began to fall back. From the contract data, BTCs contract rate turned negative, the market liquidity was extremely poor, and there was a possibility of continued weakening in the future. The recent issuance of ZK and Layerzero coins has led to tight demand for stablecoins in the market, which directly led to insufficient market liquidity.

From the external market perspective, the Nasdaq index hit a new high, led by Microsoft and Apple, two heavyweight technology stocks. The wealth effect of the US capital market has not been transmitted to the European stock market and the crypto market, but has instead produced a blood-sucking effect. We need to continue to pay attention to the correlation between Nasdaq and BTC. If the correlation begins to turn positive, but Nasdaq begins to fall, it will have a greater impact on the crypto market.

2. Wealth-making sector

1) Sector changes: TON Ecosystem (TON)

main reason:

• Continuous capital inflow: After Pantera directly invested in the TON ecosystem, the price of TON has been in an upward range, and funds continue to flow in;

• Ecological projects perform well: NOT, TON ecosystem鈥檚 game projects have performed well recently, attracting the market鈥檚 attention to TON ecosystem.

Rising situation: TON rose 8.5% + against the trend in 7 days;

Factors affecting the market outlook:

• Trading activity in the future: Currently, the biggest shortcoming of the TON ecosystem is that there are fewer active traders than other public chains, and the trading volume is not at the same level as other public chains. If TON can produce a popular MEME coin and stimulate the activity of trading users, then TONs price and liquidity will continue to rise.

• Panteras support for the TON ecosystem in the future: Dan Morehead, founder of Pantera Capital, mentioned on social media that Pantera recently made the largest investment in Telegrams TON blockchain project in the funds history, which has increased the attention paid to the TON ecosystem. If support such as project financing and product launch can be implemented in a timely manner, the prosperity of the TON ecosystem will come faster.

2) Sectors that need to be focused on in the future: AI sector

main reason:

• Binance recently announced support for the merger of FET, AGIX, and OCEAN into ASI, which has caused heated discussions in Europe and the United States and has attracted high community attention;

• Arweave AO announced that it has launched AO token minting. Users holding AR can obtain AO. AO issuance is relatively fair and is engaged in data layer business.

Specific currency list:

• TAO: Bittensor is an open source protocol that powers blockchain-based machine learning networks. Machine learning models are trained collaboratively and are rewarded in TAO based on the value of the information they provide to the collective.

• NEAR: Recently, many AI projects in the NEAR ecosystem are in the building/funding stage. NEAR is expected to become the AI hub of the future.

• ASI: The tokens of FET, AGIX, and OCEAN after the merger may have higher volatility and may have opportunities for speculation;

• AR: Arweave鈥檚 new token AO is about to be issued, backed by technical fundamentals and has a good track record.

3. User Hot Searches

1) Popular Dapps

CARV:

CARV is a game-focused ID infrastructure that aims to establish a user-owned gaming identity that enables achievement display, friend and game discovery, direct monetization, and can be taken anywhere. Yesterday, the number of independent active wallets of the Dapp reached more than 610,000. The project has been active recently: On April 26, CARV announced the completion of a $10 million Series A financing; on May 31, Animoca Brands announced a strategic investment in CARV and became its node operator.

2) Twitter

ZKsync (ZK):

ZKsync opened airdrop applications yesterday and was listed on major exchanges. The token price did not meet expectations. After the launch, it stabilized at around $2.5, and later fell to $2 with the market. According to the current price of ZK = $0.21, the full circulation market value of ZKsyncs tokens is $4.4 billion, while Starknets value is $7.4 billion.

Bitget锛圔GB锛夛細

Recently, Bitget has launched a user activity for high-interest financial management. In the current environment of falling market conditions, Bitget is able to provide high-interest stablecoin financial management, which has been recognized by the community and users. This activity has been vigorously promoted by users in the community. At present, the annualized rate of return of Bitgets stablecoin financial management can reach more than 10%, which is worth paying attention to.

3) Google Search Region

From a global perspective:

Velodrome (VELO):

The asset transaction report of U.S. House of Representatives Member Michael A. Collins showed that he conducted a Velodrome asset transaction of US$1,001-15,000 on May 17, 2024. The document sparked widespread discussion in the market after it was released.

From the hot searches in each region:

(1) In addition to the attention paid to the ZK airdrop in Asia, LUNC and FTX were respectively on the hot search list in Malaysia and Singapore due to market rumors that FTX had completed its debt repayment or was about to restart. The most searched word in South Korea yesterday was a16z crypto.

(2) There is a significant difference between the hot searches in Europe and the United States and those in Asia: Velodrome appears on the hot searches in the United States, Canada, Poland, the Netherlands and other places; at the same time, DePIN and AI are still the two sectors that users in Europe and the United States pay the most attention to, and FET and grass continue to appear on the hot lists of many European and American countries.

Potential Airdrop Opportunities

Magic Eden Wallet

Magic Eden is a well-known NFT marketplace, with investments from heavyweight VCs such as Coinbase, Paradigm, and Solana. Magic Eden tweeted that the in-wallet token claiming product will be launched later in the third quarter.

Magic Eden Wallet is its mobile app. In addition to obtaining diamond points through trading NFTs and other methods, Magic Eden will soon release a test link for Magic Eden Mobile Wallet on its official Twitter for users to test. This may also be a way to obtain airdrops.

How to participate: (1) Follow Magic Eden Wallet鈥檚 Twitter account (https://x.com/MagicEdenWallet) and set reminders; (2) When the account sends a test invitation link, you can quickly click in to use and test the App. Only a few thousand places are available each time.

RedStone

RedStone is a cross-chain oracle project. RedStone is a modular oracle for LST and LRT, providing frequently updated, reliable and diverse data sources for dApps and smart contracts on multiple L1 and L2. The market expects the project to issue coins in the second half of 24.

In 2022, RedStone completed a $7 million seed round of financing, led by Lemniscap, with participation from Coinbase Ventures, Blockchain Capital, Distributed Global, Lattice, Arweave, Bering Waters, Maven 11 and SevenX Ventures. In 2023, Aave founder and Polygon co-founder invested in the project in the angel round.

How to participate: (1) Earn RSG points by participating in on-chain activities, Galxe tasks, etc. released by RedStone and its various partners. (2) Creators can also earn RSG points by creating content and participating in designated activities on the RedStone Discord server (such as the best content of the week or the Hall of Fame).

Original link: https://www.bitget.com/zh-CN/research/articles/12560603811408

銆怐isclaimer銆慣he 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 is at your own risk.

This article is sourced from the internet: Bitget Research Institute: BTC contract funding rate turns negative, market liquidity is extremely poor and there is a risk of a sharp drop

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