Bitget Research Institute: The market remains in a narrow range of fluctuations, and the Tron ecosystem MEME wealth effe

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-creating effects are: Tron Ecological MEME, SOL Ecological MEME;

• The most searched tokens and topics by users are: Lumiterra, Dogecoin, Voxel;

• Potential airdrop opportunities include: Babylon, Yescoin;

Data statistics time: August 21, 2024 4: 00 (UTC + 0)

1. Market environment

In the past 24 hours, BTC prices fluctuated downward, and Bitcoin fell to $58,000. It tried to rebound yesterday, but failed to break through the triangle pattern. The market is in a stage of repair and adjustment. Yesterday, the U.S. Ethereum spot ETF had a net outflow of $6.7 million and a trading volume of $194 million. The daily net inflow of the spot Bitcoin ETF was $61.98 million, a net inflow for 4 consecutive days, while the total daily trading volume was $779.87 million, the lowest level since February 6, and the third lowest level of overall daily trading volume.

In terms of the market, the Jackson Hole meeting will be held this week. The market consensus is that the interest rate cut will be cut in September, but the possibility of a risk-averse pullback cannot be ruled out. With the change in election odds and a slightly favorable risk appetite environment, Bitcoin may try to break upward again. At the same time, the total market value of stablecoins has hit a record high of $165 billion. This growth usually heralds a rise in the price of Bitcoin and cryptocurrencies. The market focuses on TONs high-traffic Telegram Mini Bot project DOGS, which has been confirmed to be launched on Binance Launchpool. Solanas meme coin trading volume has dropped sharply. With the launch of Sunpump, the market is more focused on the transfer of Trons ecological meme.

2. Wealth-creating sector

1) Sector changes: Tron (TRX)

main reason:

• Tron-based token prices surged after Justin Sun announced the launch of SunPump, a token generator launched by Sun.io, causing a spike in transaction volume and revenue metrics for newly created tokens. Tron鈥檚 SunPump allows for the creation of meme coins on the Tron blockchain. It has issued over 5,500 meme coins and generated significant TRX revenue. With this track record of success, SunPump is positioning itself as a direct rival to Solana鈥檚 popular pump.fun platform. It recently recorded a spike in transaction fees to 5.3 million in 24 hours.

Rising situation: TRX rose 11% in the past 24 hours;

Factors affecting the market outlook:

• Tron Ecosystem TVL and Capital Inflow: USDT issuance on the TRON chain has exceeded 60.8 billion USD, accounting for 53% of the total USDT issuance. A sufficient capital pool can not only improve transaction efficiency, but also provide necessary financial support for innovative projects, which will help promote the prosperity of the entire meme ecosystem. The launch of SunPump further consolidates TRONs position in the meme ecosystem and provides users with a more free and diversified trading environment. If funds continue to flow in, the overall ecological currency price will rise further.

• Subsequent rise of SUNDOG and other ecological MEME coins and listing of coins on exchanges: Pay attention to the listing dynamics of mainstream exchanges. If influential KOLs continue to call orders in the future and exchanges such as Binance continue to list coins, the popularity of the Meme sector in the Tron ecosystem will continue.

2) The sectors that need to be focused on in the future: SOL Meme Coin (WIF, BONK, POPCAT)

main reason:

• The price of SOL is relatively stable, standing firmly at the integer mark of 140 US dollars, and may break through 150 US dollars in the near future; the trading volume of DEX on Solana has reached a new high recently, and the funds are relatively active, driving the rise of ecological projects;

Specific currency list:

• WIF: Solana ecosystem鈥檚 Meme coin, previously listed on Robinhood. The SOL token rises, and generally the Solana head MEME coin rises faster;

• BONK, POPCAT: The core meme coins on Solana. The transaction volume has increased recently. The transaction demand is relatively high, and there is room for token layout.

3. User Hot Searches

1) Popular Dapps

Lumiterra:

Lumiterra is an online multiplayer game where you can freely explore, build, fight, and earn money in a virtual world. Players can play the role of warriors, farmers, explorers, or merchants in a borderless digital world. Each character has its own tasks and goals. Players can earn virtual currency by playing games and trade with other players. Currently, the UAW of the game exceeds 246,000, with a daily increase of 167%.

2) Twitter

Dogecoin:

Musk posted a post on the X platform and attached a picture jokingly saying that he was willing to work for the Department of Government Efficiency. The English abbreviation of Department of Government Efficiency in the picture is DOGE. This has led to an increase in the discussion of DOGE on Twitter. Considering that the popularity is relatively short-term and there is no other good news, it is recommended to participate in the hype with caution.

3) Google Search Region

From a global perspective:

Voxel:

Binance launched VOXELUSDT perpetual contract at 18:30 (ET) on August 20, 2024. Affected by the launch of the contract, VOXEL trading volume and price rose rapidly, with the current 24-hour increase of 48.34%. Due to the previous multiple band increases in related projects such as rare and sys, users can participate in related transactions with caution.

From the hot searches in each region:

(1) Asia: Asia has shown a relatively concentrated interest in the RWA concept and related projects. RWA projects have appeared many times in hot searches, such as ONDO in Singapore, RWA Crypto in Vietnam, and RWA meaning in the Philippines.

(2) CIS region: The CIS region still maintains a high enthusiasm for ton app games. For example, the Blum project has appeared in Uzbekistan, Ukraine and Belarus.

(3) Latin America: Latin America has a relatively concentrated focus on dog series tokens, with floki, bonk and shiba inu appearing in the hot searches.

Potential Airdrop Opportunities

Babylon

Babylon is a layer 1 blockchain founded by Professor David Tse of Stanford University. The projects mission is to bring Bitcoins unparalleled security to all PoS blockchains without any additional energy costs. Babylon has completed $70 million in financing, led by Paradigm, with participation from Polychain Capital and the venture capital arm of cryptocurrency trading platform Bullish.

Currently, Babylon has launched the first phase of the Bitcoin staking mainnet, and Bitcoin holders can start locking up BTC for staking. The protocol will be launched in three phases:

• Phase 1: Bitcoin locking, users can lock their Bitcoin in a secure self-custodial script through Bitcoin transactions;

• Phase 2: Activate Bitcoin staking and launch the Babylon PoS chain;

• Phase 3: Bitcoin multi-staking activation, allowing users to stake the same Bitcoin in multiple PoS systems at the same time.

• The initial total pledge limit is 1,000 bitcoins.

There are several ways to pledge:

• Official Web Application: The official Bitcoin Staking web application (btcstaking.babylonlabs.io) provides a list of verified finality providers for stakers to delegate to.

• Third-party services: such as third-party staking sites, escrow solutions, and APIs.

• Command Line Interface (CLI) tool.

• There is also the LST (Liquid Staking Token) protocol that will participate in the Babylon Bitcoin staking mainnet.

Yescoin

TG Mini App high traffic project Yescoin will hold Yes Summer from August. The Yes Summer event announcement will cooperate with a large number of project parties and exchange wallets to distribute a total of 1,000,000 USD rewards: https://x.com/Yescoin_Fam/status/1818913140295581817

Currently working with Bitget Wallet: https://x.com/BitgetWallet/status/1821870001504317941, you can get future token airdrops and 100,000 $BGB rewards by completing activities such as opening treasure chests, inviting friends, and learning blockchain in Bitget Wallet.

Original link: https://www.bitget.fit/zh-CN/research/articles/12560603814666

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 market remains in a narrow range of fluctuations, and the Tron ecosystem MEME wealth effect is good

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