Bitget Research Institute: The crypto market fluctuated downward after the release of CPI, and short-term risks still ex

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 strong wealth creation effects are: real income sector (BANANA, AAVE), Bitget platform currency

• Hot searched tokens and topics: Ton Network, Bitgo

• Potential airdrop opportunities include: Solayer, Plume Network

Data statistics time: August 15, 2024 4: 00 (UTC + 0)

1. Market environment

Yesterday, the US released the July CPI, which exceeded expectations and reached 2.9. After the data was released, the market generally believed that the interest rate might be cut by 25 basis points in September. Since it did not reach 50 bp, the market went out of the shock and fell.

In terms of ETFs, Bitcoin ETF had a net outflow of 81 million US dollars yesterday, and Ethereum ETF had a net inflow of 10.8 million US dollars yesterday. ETF funds are currently unable to form continuous net inflows and outflows, and it is difficult to create a continuous market trend in the current market. Therefore, the current market trend of BTC is still mainly range-bound.

In terms of sectors, some assets in the Bitcoin ecosystem performed well, mainly due to the recent development of the Bitcoin ecosystem. Coinbase is preparing to issue cbBTC in the near future, bringing Bitcoin into the DeFi ecosystem through centralized + compliant custody. The market generally looks forward to the arrival of BTCfi.

2. Wealth-making sector

1) Sector changes: Real income sector (BANANA, AAVE)

main reason:

• In the current sluggish market environment, the market is looking for projects in the crypto industry that can truly generate income and distribute income to token holders. As a leading TG Bot project, BANANA has a relatively stable market share and strong support for token prices. With the acquisition of the MEME market, the projects income price is objective. AAVEs recent on-chain data shows that the number of active lending users on the chain has reached a historical high. The increase in lending users will further increase the protocols revenue;

Increase: BANANA increased by 8.78% in the past 24 hours, and AAVE increased by 10.4% in the past 24 hours;

Factors affecting the market outlook:

• Market share: Market share is an important indicator for measuring these real income projects. Since the current crypto market share is limited, being able to maintain a top market share is the key to maintaining high sustainable income for the project. Currently, BANANA is among the top three TG Bots, AAVE is the first in the lending sector, and users have high stickiness and excellent overall performance.

• Related revenue distribution policy: A new proposal for AAVE considers adding a fee conversion function to return part of the platforms net excess revenue to its key users. This move may also lead to the re-staking of the AAVE protocol, providing a new source of income for AAVE and its users.

2) The sectors that need to be focused on in the future: Bitget platform coins (BGB, BWB)

main reason:

• Bitget recently announced that in order to help the long-term development of Bitget Token (BGB) and enhance the rights and interests of BGB holders, Bitget will upgrade the token smart contract and expand the use of BGB in decentralized applications such as DeFi, DEX, and GameFi. The number of Bitget Wallet users exceeded 30 million, and the number of downloads in July exceeded Metamask, making the market optimistic about the rise in the price of the currency.

Specific currency list:

• BGB: Bitget has added 2.9 million new users, bringing the total number of users to 25 million. At the same time, Bitget has attracted about $700 million in capital inflows. Bitget continues to make efforts in LaunchPool and PoolX. The potential demand for BGB in the future may surge, so it is recommended to pay close attention.

• BWB: Bitget Wallet token, with a total market value of only US$500 million. The wallet track has good growth potential in the future and is suitable for long-term holders.

3. User Hot Searches

1) Popular Dapps

Ton Network (Public Chain)

Recently, Binance announced that Launchpool will launch TON. The price of TON tokens continued to rise yesterday, breaking through 7 US dollars in the short term. The wealth effect and trading popularity are relatively high. TON ecosystem is backed by Telegram and has a very large user base. Most of the ecological projects are game projects. Simply Tap 2 Earn, you can get platform rewards by completing tasks. TON tokens have been popular recently. Bitget is the second exchange in the market to launch TON spot assets, with good trading volume and trading depth.

2) Twitter

Bitgo:

In an interview, BitGo CEO Mike Belshe downplayed Sun Yuchens involvement in the joint venture and emphasized BitGos long-term commitment to security. He said: BiT Global has a whole team responsible for managing multiple customer accounts, and they have an obligation to properly keep the assets. They cant lend the money out, and they cant give the money to Sun Yuchen or me or anyone else at will, otherwise they will break the law and go to jail. As far as proof is concerned, we have always had wbtc.network, and it will continue to operate. Bitgo hosts the BTC used to issue WBTC for endorsement. The recent in-depth cooperation between Sun Yuchen and Bitgo has aroused community concerns about whether WBTC is safe. WBTC was previously in a weak anchor state for BTC.

3) Google Search Region

From a global perspective:

CPI锛圗vent锛夛細

The CPI in July was basically in line with expectations, continuing the year-on-year decline trend. The total CPI grew by 2.9% year-on-year, finally falling below 3%. On the whole, the probability of a 25 basis point rate cut in September is higher, and the market reaction is flat. The next focus will be on the weekly unemployment claims and retail sales data released on Thursday, as well as the subsequent Jackson Hole Annual Meeting.

From the hot searches in each region:

(1) From the perspective of Asia: The projects and sectors that each region pays attention to are very scattered, without much in common, but there are some sporadic hot spots in a small range. For example, Hong Kong, Singapore, and Vietnam are more concerned about RWA-related projects, and Bome is on the list of Japanese users.

(2) In Europe and the United States, the hot search terms are relatively scattered and have no universal characteristics. At the same time, European and American countries pay more attention to new public chain projects, including SUI, Celo, Solana, etc. Floki, Alephium, etc. are on the list.

(3) The CIS region mainly focuses on Blum and Grass. Some meme coins are quite popular, including Floki, Myro, etc.

Potential Airdrop Opportunities

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 Binance labs, 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 Epoch. Currently, the main network is open, and staking SOL can obtain sSOL and platform points.

Plume Network

Plume Network is a modular L2 network dedicated to the RWA track. Its product form is to integrate asset tokenization and directly supply suppliers products on the chain. The project recently completed a seed round of financing with a financing amount of US$10 million. The participating institutions include Haun Ventures, Superscrypt, Galaxy, and SV Angel.

The project recently launched a test network and launched activities such as Earn Mile, Check In, and Passport.

Specific participation methods: 1) Visit the project official website, click Connet Wallet, and then enter the App; 2) Earn miles by Swap, Stake, Speculate, completing tasks on the platform, Check-in, etc.

Original link: https://www.bitget.fit/zh-CN/research/articles/12560603814409

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.

This article is sourced from the internet: Bitget Research Institute: The crypto market fluctuated downward after the release of CPI, and short-term risks still exist. It is recommended to wait and see

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