Bitget Research Institute: ETH spot ETF approved, ETH and currencies within the ecosystem are expected to continue to ri

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 creation effects are: BGB, POW sector, ETH ecological projects

• The most searched tokens and topics by users are: Solana Dust Vacuum, MakerDAO, AVAIL

• Potential airdrop opportunities include: Zircuit, Vooi

Data statistics time: July 23, 2024 4: 00 (UTC + 0)

1. Market environment

In the past 24 hours, the crypto market has experienced a daily correction, with BTC falling back to around $66,500. ETH is weaker than BTC, and the correction is more obvious. According to Coinglass data, the funding rate for long BTC through contracts in the entire market is currently fluctuating at a low level. The mainstream CEX even has a situation where the BTC contract price is lower than the spot price, which shows that external funds are directly investing in BTC spot, which is good for the future market.

On the news front, yesterday, the question of whether BTC can become a reserve asset in the United States was discussed by CNBC and other media. BlackRocks BTC ETF witnessed the second highest single-day net inflow since its launch, with a net inflow of up to US$526 million. The ETH ETF was approved and will be launched on the capital market on Tuesday, US time. The market generally expects a capital inflow of US$5 billion. The market is paying attention to the core PCE data to be released this Friday and Trumps live speech at the BTC conference on Saturday.

2. Wealth-making sector

1) Sector changes: Bitget Ecosystem (BGB)

main reason:

• Bitget announced today the launch of a new Launchpool project Upland (SPARKLET), which can be participated by staking BGB;

Rising situation: BGB rebounded 3% against the trend within 24 hours, rebounding to the key integer of 1.2 US dollars;

Factors affecting the market outlook:

• BGB empowerment: BGB holders can continue to participate in Bitgets three major new listing platforms Launchpad, Launchpool, and Poolx, bringing the listing dividends of high-quality assets in the bull market to the community, which is suitable for long-term holding.

• Increase or decrease in the amount of open contracts: Bitget recently launched the perpetual contract trading pair of BGB. According to the increase/decrease in the amount of open contracts, we can understand the potential buying and selling intentions of BGB.

2) The sectors that need to be focused on in the future: POW sector (DOGE, LTC, KAS)

main reason:

• On July 27, local time, Republican presidential candidate Trump will attend the BTC conference. The essence of this is to win over the mining community in the United States. Good news for BTC and the mining industry may be announced at the conference.

Specific currency list:

• DOGE: A well-known meme coin. Elon Musk will also attend the BTC conference. He may make some favorable remarks about DOGE. You can consider making arrangements in advance.

• LTC: An early POW token. Currently, the daily revenue of Antminer L 9 is 28.75 USD. It is a token that the miners pay more attention to.

• KAS: The KAS token trend is very strong, and the daily income of miners from mining KAS is very high, bringing abundant cash flow to the miner group.

3) Sectors that need to be focused on in the future: ETH ecosystem projects (UNI, LDO)

main reason:

• ETH spot ETF will be officially launched in the U.S. capital market on Tuesday local time. The market expects ETH ETF to bring in a net inflow of US$5 billion. Ecosystem projects are currently undervalued, and there are opportunities for layout. ETH and the currencies within the ecosystem are expected to continue to rise in the medium term.

Specific currency list:

• UNI: The first DeFi Swap project on blockchain applications. Uniswap鈥檚 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 2 billion US dollars, is relatively undervalued;

3. User Hot Searches

1) Popular Dapps

Solana Dust Vacuum:

The main function of Solana Dust Vacuum is to recycle the users useless accounts, thereby freeing up unnecessary storage space for the verification node and returning the account rent to the user (according to Solanas rent standard, the rent for one account is usually 0.00203928 SOL). Yesterday, the number of active addresses of this Dapp surged, and the number of 24-hour unique active wallets reached 878k. Because the project is relatively new and has no disclosed financing background, special attention should be paid to the contract security during interaction to prevent tokens from being defrauded by phishing contracts.

2) Twitter

MakerDAO (MKR):

Yesterday, the 4-month selling pressure on MKR finally ended: after 126 days, all 30,971 MKR (worth about 92.08 million USD) from addresses related to the MakerDAO team have been transferred out. At the same time, according to on-chain data monitoring information, some whales have begun to buy MKR on the chain.

3) Google Search Region

From a global perspective:

AVAIL:

Avail, a modular blockchain project, announced on the X platform that it will launch the mainnet today and provide liquidity pledge, as well as distribute AVAIL token airdrops. Avail is a modular blockchain focused on data availability: sorting and recording blockchain transactions, proving that block data is available without downloading the entire block. Previously, it completed a $43 million Series A round and a $27 million Seed round.

From the hot searches in each region:

(1) JD Vance appeared on the hot searches in many countries in Europe and the United States. According to news information, JD Vance criticized Kamala Devi Harris during his first campaign appearance as the Republican vice presidential candidate. Recently, the on-chain PoliFi concept token has fluctuated greatly, and users in Europe and the United States have paid more attention to it.

(2) There were no obvious typical hot search terms in Asia and Latin America yesterday, and the hot search tokens were relatively scattered. For example, Kelp DAO, AGIX, and NEAR appeared in Argentina鈥檚 hot searches, while PEPE and SOL appeared in Brazil鈥檚 hot searches.

4. Potential Airdrop Opportunities

Zircuit

Yesterday鈥檚 media information: EVM-compatible zkRollup network Zircuit announced that it has completed mainnet financing, with participants including Binance Labs, Mirana Ventures, Amber Group, etc. Bitget Research has previously explained Zircuit in its daily report, and today we will repeat it after the disclosure of its important financing information.

Zircuits first season of point counting has ended and the second season has begun.

Specific ways to participate: 1) Enter the staking page (https://stake.zircuit.com/) to participate in staking to win points; 2) Participate in node deployment to win points (https://build.zircuit.com/build); 3) Testnet interaction: receive ETH testnet test coins and conduct cross-chain interaction with the Zircuit testnet (https://bridge.zircuit.com/);

Vooi

The on-chain derivatives DEX aggregator currently integrates the liquidity of Orderly, KiloEx, and SynFutures, and will soon integrate the liquidity of Hyperliquid. Users can choose different liquidity sources for contract trading at a lower fee on Vooi, and Vooi will be updated to automatically select the best liquidity mode in the future.

Vooi is one of the 13 projects shortlisted for the Binance Labs MVB VII accelerator program. Interacting with Vooi can kill two birds with one stone, getting potential airdrops from Orderly or KiloEx or SynFutures while interacting with Vooi itself.

How to participate: Go to https://app.vooi.io/, connect your wallet, deposit vooi, and choose one of the three liquidity sources to trade.

Original link: https://www.bitget.com/zh-CN/research/articles/12560603813144

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 information is at your own risk.

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