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Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem

Bitget Research
2023/12/25
Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem

In the past 24 hours, many new popular tokens and topics have emerged in the market, and perhaps they will be the next focus of the market.

In Summary:

1. Popular Tokens:

piin (Token) - Piin, a BRC-20 token hyped by the Chinese-speaking community, has seen a trading volume of $1.33 million and a rise of 36% in the last 24 hours, indicating good performance and high popularity in the inscription sector. It is essential to stay updated on its development.

BTL (Token) - The token had its TGE on December 25. It experienced a significant decline shortly after being listed, indicating a higher trading risk. It has a 24-hour trading volume of $8.5 million on-chain, but with only 3,200 transactions, suggesting the possibility of wash trading. As the risk outweighs the benefits, it is recommended to stay updated on its development.

OMNI (Token) - It is an omni-chain meme coin issued on multiple blockchains. The token, named $OMNI on X, is powered by Layerzero. After being listed on the 23rd, the token saw cumulative gains, reaching a peak of $0.005. However, on the 24th, it began to decline, and currently, it has lost approximately 75% of its market capitalization. The token continues to experience high trading activity, with a 24-hour trading volume of $4.6 million. As there is a significant level of trading demand, it is essential to stay updated on its development.

EDOGE (Token) - Etherdoge, EDOGE is purported to be the earliest meme coin on ETH, created on December 12, 2017. On December 15, there was a sudden influx of investment into the token, causing a rapid price surge in a short time. After three significant swings, the token price has slightly retreated. With a current 24-hour trading volume of nearly $10,000, it shows an evident outflow of investment.

BURN (Token) - It is the project token of BurnedFi. After its TGE on December 18, the token gradually rallied and achieved an accumulated increase of over 50 times. However, it sharply declined yesterday, plummeting from $0.7 to $0.223. With a 24-hour DEX trading volume exceeding $3 million, and nearly 10,000 transactions on the chain, the token currently carries a relatively high market risk. It is recommended to monitor the token for a potential pullback.

STG (Token) - Stargate is a liquidity transfer protocol and the core project of the LayerZero ecosystem. Currently, the number of unique addresses staking its STG token has reached 1.1 million, with over 40 million STG tokens being staked. With Stargate, users and DApps can transfer native assets across multiple chains (with more to come in the future). The token has been performing well in the secondary market recently, making it essential to stay updated on its development.

BPET (Token) - It is xPet's in-game utility token. In a recent Christmas promotion held by xPet with OKX, users can claim a Christmas hat for completing a task, which can be used to equip a user's pet in the game. The token of this project has recently experienced a modest 3x increase on DEX. According to the project's roadmap, there are potential plans to develop PvP games in the future, making it a project worth keeping on your radar.

Avive (Token) - Avive is a social protocol based on geographical information. Utilizing the Proof of Networking consensus mechanism, it has gathered millions of users from over 130 countries on the Avive L2 platform. The project had a notably strong performance upon its listing on an exchange yesterday.

2. Popular NFTs:

GasHeroBadge (NFT) - Gas Hero is a Web3 social and strategy game developed by the former StepN team. Unlike traditional games, Gas Hero focuses heavily on game theory, providing players with a wider range of strategies and utilizing a decentralized trading platform to maximize on-chain data transparency. The game has recently gone live, and the in-game NFT trading is exceptionally active.

Carv events (NFT) - Carv Event NFT grants users privileges to unlock certain features on Carv, such as the ability to purchase rare in-game NFTs or receive invitation links for beta testing. The project has released several NFTs, but there is currently low demand for trading in the secondary market. It is essential to stay updated on its development.

Smartcat (NFT) - Recently launched by SmartLayer, this NFT project has garnered considerable attention on the chain. The current number of holders is 880,000.

ins-20 (NFT) - It is an Ethscription project that started a fair mint on December 25. Currently available for trading on OpenSea and Blur, it has gained significant popularity, and it is recommended to stay updated on its development.

DackiEgg (NFT) - It is an NFT collection released on Base Chain on December 25, with 171,000 followers on its official X account. The project not only features NFTs but also has issued the $DACKIE token and its corresponding swap. With a certain level of popularity, the project is worth further monitoring.

3. Popular DApps:

MUBI (Dapp) - MUBI is the native protocol token of the Multibit, a BRC20-ERC20 cross-chain bridge project. With the growing popularity of the BRC-20 ecosystem, the hype has also spread to Ethereum. Multibit enables users to cross-chain BRC-20 tokens from the Bitcoin Network to the Ethereum Network to engage in the corresponding DeFi ecosystem. This distinctive functionality has garnered considerable market attention and speculation. The token has been listed on Multibit with wealth creation effect. It is essential to stay updated on its development.

Manta Network (DApp) - The project was created by a team of experienced founders from prestigious institutions such as Harvard, MIT, and Algorand. The project will conduct a Snapshot in December, and the cross-chain transferring of ETH to the Manta chain will provide future airdrop opportunities. The Total Value Locked (TVL) of the project has been growing rapidly, increasing by $90 million within two weeks.

Port3 (DApp) - Port3 is a blockchain project designed to become a Web3 social data gateway. It provides open data services by aggregating Web2 and Web3 data. Port3 is structured around three fundamental modules: data collection, data reading, and data application. These modules are integral in aggregating various types of information, including community dynamics, social media trends, and on-chain transaction data. Recently, the Port3 Network launched a BRC-20 section and is set to release Bitcoin BQL. It is advisable to keep a close watch on these developments.

AleoX (DApp) - It serves as the mining pool of Aleo and has relatively low views on X and its official website. The project's popularity will be influenced by the development of the Aleo project. The recently active AleoX community promises a certain level of user base for its future issuance. It is essential to stay updated on its development.

Aerodrome (DApp) - Aerodrome is an emerging automated market maker (AMM) protocol aimed to become the central liquidity hub for Coinbase's Layer 2 chain, Base. The aerodrome's design is inspired by the Velodrome V2 model to incentivize liquidity on the protocol. Despite past collaborations, Aerodrome operates independently of Velodrome. AERO, Aerodrome's utility and governance token, allows holders to lock their tokens and receive veAERO NFTs and voting power based on the lock-up period.

Jupiter (DApp) - Jupiter Exchange, a derivatives trading platform within the Solana ecosystem, has announced the details of the JUP community airdrop. Out of a total of 10 billion JUP tokens, 40% will be distributed to the community over four rounds of airdrops, with the first round distributing 10% (1 billion tokens). There will also be subsequent airdrops targeting new users. Recently, the trading volume on the Solana chain has increased significantly and even surpassed ETH. With such increasing popularity, , and the heat has increased, it is essential to stay updated on the exchange.

Raydium (DApp) - The leading Dex platform on Solana. RAY is the native token of Raydium, one of the top DEX projects in the Solana ecosystem. As the Solana ecosystem recovers, RAY's price has also rebounded. In addition, Raydium also has the functionality of a Launchpad, which may potentially host IDO projects in the future. The Solana ecosystem continues to rebound and can be kept on the radar.

Vertex (DApp) - Vertex is a decentralized exchange (DEX) protocol based on Arbitrum, offering cross-margin trading services. It integrates spot, perpetual contracts, and money markets into one application. It is currently the most active derivatives platform on Arbitrum.

4. Twitter Hot Topics:

SOL (Token) - The Solana token rose as high as $118 on December 24, reaching a new high for the year. Solana has experienced a surge in popularity recently, accompanied by a rise in activity within its ecosystem due to the rebounding of the Solana token. With projects in the ecosystem gradually recovering, and emerging meme projects providing strong wealth effects, the Solana token has received wide attention.

Ray (Token) - RAY is the native token of Raydium, one of the top DEX projects in the Solana ecosystem. As the Solana ecosystem recovers, RAY's price has also rebounded. In addition, Raydium also has the functionality of a Launchpad, which may potentially host IDO projects in the future.

5. Regional Trending Searches:

Kusama (Token) - Kusama is a unique blockchain project that serves as a "wild" version of Polkadot, or an experimental network, providing developers with an efficient and low-cost environment to test and experiment with new blockchain applications and features. As the Polkadot ecosystem experiences a general upward trend, the token price of Kusama has also rebounded.

Main Body:

Written by: Bitget Research

Data collection time: December 25, 10:30 AM

Data sources: Dune, DApps, Twitter, Google

Note:

1) New active users: Refers to wallet addresses that were newly created on the chain in the past 24 hours and had interactions on the chain.

2) Existing active users: Refers to wallet addresses that were created on the chain 24 hours ago and had interactions on the chain in the past 24 hours.

3) DApp daily activity (UAW: unique active wallets)

4) TGE (Token Generation Event)

5) In this report, the term "Entity" refers to both Contract Account (CA) and Ethereum Original Account (EOA), and is not a result of the aggregation of actual entity addresses.

1. BTC Profile - BRC-20

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 0

piin (Token) - Piin, a BRC-20 token hyped by the Chinese-speaking community, has seen a trading volume of $1.33 million and a rise of 36% in the last 24 hours, indicating good performance and high popularity in the inscription sector. It is essential to stay updated on its development.

2. Blockchain Profile - ETH Chain

2.1 User Profile

2.1.1 Core Data

Total active users on ETH: 445,509

New active users on ETH: 93,936, with a daily increase of 4.95%

Existing active users on ETH: 351,573, with a daily decrease of 0.99%

2.1.2 New User Profile

Core data: There were a total of 93,936 new active users on ETH yesterday, with a daily increase of 4.95%

Popular Sectors

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Popular Projects

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 2

Key Projects:

MUBI (Dapp) - MUBI is the native protocol token of the Multibit, a BRC20-ERC20 cross-chain bridge project. With the growing popularity of the BRC-20 ecosystem, the hype has also spread to Ethereum. Multibit enables users to cross-chain BRC-20 tokens from the Bitcoin Network to the Ethereum Network to engage in the corresponding DeFi ecosystem. This distinctive functionality has garnered considerable market attention and speculation. The token has been listed on Multibit with wealth creation effect. It is essential to stay updated on its development.

2.1.3 Existing User Profile

Core data: The number of ETH existing active users is 351,573, with a daily decrease of 0.99%

Popular Sectors

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Popular Projects

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 4

Key Projects:

Manta Network (DApp): The project was created by a team of experienced founders from prestigious institutions such as Harvard, MIT, and Algorand. The project will conduct a Snapshot in December, and the cross-chain transferring of ETH to the Manta chain will provide future airdrop opportunities. The Total Value Locked (TVL) of the project has been growing rapidly, increasing by $90 million within two weeks.

2.2 Popular Trading Pairs

2.2.1 Uniswap V2

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 5

BTL (Token) - The token had its TGE on December 25. It experienced a significant decline shortly after being listed, indicating a higher trading risk. It has a 24-hour trading volume of $8.5 million on-chain, but with only 3,200 transactions, suggesting the possibility of wash trading. As the risk outweighs the benefits, it is recommended to stay updated on its development.

2.2.2 Uniswap V3

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 6

OMNI (Token) - It is an omni-chain memecoin issued on multiple blockchains. The token, named $OMNI on X, is powered by Layerzero. After being listed on the 23rd, the token saw cumulative gains, reaching a peak of $0.005. However, on the 24th, it began to decline, and currently, it has lost approximately 75% of its market capitalization. The token continues to experience high trading activity, with a 24-hour trading volume of $4.6 million. As there is a significant level of trading demand, it is essential to stay updated on its development.

EDOGE (Token) - Etherdoge, EDOGE is purported to be the earliest meme coin on ETH, created on December 12, 2017. On December 15, there was a sudden influx of investment into the token, causing a rapid price surge in a short time. After three significant swings, the token price has slightly retreated. With a current 24-hour trading volume of nearly $10,000, it shows an evident outflow of investment.

2.3 Popular NFTs

2.3.1 Top NFT Collections

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 7

GasHeroBadge (NFT) - Gas Hero is a Web3 social and strategy game developed by the former StepN team. Unlike traditional games, Gas Hero focuses heavily on game theory, providing players with a wider range of strategies and utilizing a decentralized trading platform to maximize on-chain data transparency. The game has recently gone live, and the in-game NFT trading is exceptionally active.

3. Blockchain Profile - BSC

3.1 User Profile

3.1.1 Core Data

Total active users on BSC: 988,221

New active users on BSC: 160,992, with a daily increase of 1.78%

Existing active users on BSC: 827,229, with a daily decrease of 0.38%

3.1.2 New User Profile

Core data: There were a total of 160,992 new active users on BSC yesterday, with a daily increase of 1.78%

Popular Sectors

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Popular Projects

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 9

Key Projects:

Port3 (DApp) - Port3 is a blockchain project designed to become a Web3 social data gateway. It provides open data services by aggregating Web2 and Web3 data. Port3 is structured around three fundamental modules: data collection, data reading, and data application. These modules are integral in aggregating various types of information, including community dynamics, social media trends, and on-chain transaction data. Recently, the Port3 Network launched a BRC-20 section and is set to release Bitcoin BQL. It is advisable to keep a close watch on these developments.

3.1.3 Existing User Profile

Core data: The number of BSC active existing users is 827,229, with a daily decrease of 0.38%

Popular Sectors

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 10

Popular Projects

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 11

Key Projects:

AleoX (DApp) - It serves as the mining pool of Aleo and has relatively low views on X and its official website. The project's popularity will be influenced by the development of the Aleo project. The recently active AleoX community promises a certain level of user base for its future issuance. It is essential to stay updated on its development.

3.2 Popular Trading Pairs

3.2.1 PancakeSwap V2

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 12

BURN (Token) - It is the project token of BurnedFi. After its TGE on December 18, the token gradually rallied and achieved an accumulated increase of over 50 times. However, it sharply declined yesterday, plummeting from $0.7 to $0.223. With a 24-hour DEX trading volume exceeding $3 million, and nearly 10,000 transactions on the chain, the token currently carries a relatively high market risk. It is recommended to monitor the token for a potential pullback.

4. Blockchain Profile - Polygon Chain

4.1 User Profile

4.1.1 Core Data

Total active users on Polygon: 439,058

New active users on Polygon: 85,126, with a daily decrease of 5.92%

Existing active users on Polygon: 353,932, with a daily decrease of 10.06%

4.1.2 New User Profile

Core data: There were a total of 85,126 new active users on Polygon yesterday, with a daily decrease of 5.92%

Popular Sectors

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Popular Projects

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 14

Key Projects:

Carv events (NFT) - Carv Event NFT grants users privileges to unlock certain features on Carv, such as the ability to purchase rare in-game NFTs or receive invitation links for beta testing. The project has released several NFTs, but there is currently low demand for trading in the secondary market. It is essential to stay updated on its development.

4.1.3 Existing User Profile

Core Data: The number of Polygon active existing users is 353,932, with a daily decrease of 10.06%

Popular Sectors

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Popular Projects

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 16

Key Projects:

Smartcat (NFT) - Recently launched by SmartLayer, this NFT project has garnered considerable attention on the chain. The current number of holders is 880,000.

4.2 Popular Trading Pairs

4.2.1 Uniswap V3

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 17

STG (Token) - Stargate is a liquidity transfer protocol and the core project of the LayerZero ecosystem. Currently, the number of unique addresses staking its STG token has reached 1.1 million, with over 40 million STG tokens being staked. With Stargate, users and DApps can transfer native assets across multiple chains (with more to come in the future). The token has been performing well in the secondary market recently, making it essential to stay updated on its development.

5. Blockchain Profile - Arbitrum Chain

5.1 User Profile

5.1.1 Core Data

Total active users on Arbitrum: 201,025

New active users on Arbitrum: 35,563, with a daily decrease of 4.31%

Existing active users on Arbitrum: 165,462, with a daily decrease of 13.85%

5.1.2 New User Profile

Core data: There were a total of 35,563 new active users on Arbitrum yesterday, with a daily decrease of 4.31%

Popular Sectors

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Popular Projects

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 19

Key Projects:

BPET (Token) - It is xPet's in-game utility token. In a recent Christmas promotion held by xPet with OKX, users can claim a Christmas hat for completing a task, which can be used to equip a user's pet in the game. The token of this project has recently experienced a modest 3x increase on DEX. According to the project's roadmap, there are potential plans to develop PvP games in the future, making it a project worth keeping on your radar.

5.1.3 Existing User Profile

Core data: The number of Arbitrum active existing users is 165,462, with a daily decrease of 13.85%

Popular Sectors

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Popular Projects

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 21

Key Projects:

Avive (Token) - Avive is a social protocol based on geographical information. Utilizing the Proof of Networking consensus mechanism, it has gathered millions of users from over 130 countries on the Avive L2 platform. The project had a notably strong performance upon its listing on an exchange yesterday.

5.2 Popular Trading Pairs

5.2.1 Uniswap V3

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 22

xPet (Token): XPET is the in-game governance token, and holders can get 50% of future xPet's operating income. It have risen well recently for the same reason as BPET above, and it is recommended to keep an eye on it.

6. Blockchain Profile - Base Chain

6.1 User Profile

6.1.1 Core Data

Total Active Users on Base: 70,650

New Active Users on Base: 14,330, with a daily decrease of 2.61%

Existing Active Users on Base: 56,320, with a daily decrease of 22.71%

6.1.2 New User Profile

Core data: There were a total of 14,330 new active users on Base yesterday, with a daily decrease of 2.61%

Popular Sectors

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Popular Projects

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 24

Key Projects:

Aerodrome (DApp) - Aerodrome is an emerging automated market maker (AMM) protocol aimed to become the central liquidity hub for Coinbase's Layer 2 chain, Base. The aerodrome's design is inspired by the Velodrome V2 model to incentivize liquidity on the protocol. Despite past collaborations, Aerodrome operates independently of Velodrome. AERO, Aerodrome's utility and governance token, allows holders to lock their tokens and receive veAERO NFTs and voting power based on the lock-up period.

6.1.3 Existing User Profile

Core data: The number of Base active existing users is 56,320, with a daily decrease of 22.71%

Popular Sectors

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 25

Popular Projects

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 26

Key Projects:

Fren Pet (NFT) - A new NFT project on the Base chain. Fren Pet is a cross-chain pet simulation game inspired by Friend.tech and developed jointly by Adam (@surfcoderepeat) and Cadu (@cadu_veloso). Some influencers are actively promoting the project on social media. Currently, the DApp shows average stability, with instances of downtime that were quickly resolved. It is worth keeping an eye on for future developments.

7. DApp Ecosystem - All Chains

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 27

Jupiter (DApp) - Jupiter Exchange, a derivatives trading platform within the Solana ecosystem, has announced the details of the JUP community airdrop. Out of a total of 10 billion JUP tokens, 40% will be distributed to the community over four rounds of airdrops, with the first round distributing 10% (1 billion tokens). There will also be subsequent airdrops targeting new users. Recently, the trading volume on the Solana chain has increased significantly and even surpassed ETH. With such increasing popularity, , and the heat has increased, it is essential to stay updated on the exchange.

8. DApp Ecosystem - ETH Chain

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 28

0x Protocol (DApp) - 0x is an open, decentralized trading protocol mainly utilized for trading tokens on the Ethereum blockchain. It establishes a foundational structure for Decentralized Exchanges (DEXs), enabling anyone to create and operate their own exchange on its platform. As the cryptocurrency market experiences an uptick, the engagement volume with the 0x protocol is gradually increasing.

9. DApp Ecosystem - BSC

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 29

Galxe (Token) - Galxe supports a variety of data sources, including both on-chain and off-chain. For on-chain credentials, curators can contribute through subgraph queries or static snapshots. For off-chain credentials, Project Galaxy has integrated with platforms like Snapshot.org, Twitter, and Github. This support for diverse data sources enables Project Galaxy to more broadly collect and utilize data.

10. DApp Ecosystem - Polygon Chain

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Jump.Trade (DApp) - Jump.trade is a significant gaming NFT marketplace on Polygon, where a substantial number of users have recently been trading NFTs. The platform enjoys considerable traffic.

11. DApp Ecosystem - Solana Chain

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Raydium (DApp) - The leading Dex platform on Solana. RAY is the native token of Raydium, one of the top DEX projects in the Solana ecosystem. As the Solana ecosystem recovers, RAY's price has also rebounded. In addition, Raydium also has the functionality of a Launchpad, which may potentially host IDO projects in the future. The Solana ecosystem continues to rebound and can be kept on the radar.

12. DApp Ecosystem - Arbitrum Chain

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Rhino.fi (DApp) - Rhino.fi is a multi-chain decentralized finance (DeFi) aggregator that offers a frictionless cross-chain experience, enabling users to access the best DeFi opportunities in one secure and reliable place. As a Layer 2 solution, Rhino.fi aims to provide users with easy multi-chain token transfer capabilities, delivering an ultimate cross-chain operation experience. It allows users to seamlessly switch between different blockchains without the need for complex bridging or network switching.

14. DApp Ecosystem - Base Chain

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Dmail (DApp) - Dmail is a mail application based on Web 3.0 and Dfinity technology, integrating NFT functionality and distributed storage, with each account itself being an NFT. This project aims to bridge the gap between traditional email systems and blockchain-based email systems, thereby lowering the barrier for users and developers to engage with the crypto world. The design philosophy of Dmail is to make the use of blockchain technology as simple and intuitive as using the internet.

14. DApp Ecosystem - GameFi Sector Across All Chains

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Sweat Economy (DApp) - A traditional Web2 project that has transitioned to a Web3 wallet and a "Move to Earn" project, with currently 5 million downloads on Google Play. Users can earn SWEAT tokens through its Sweat Wallet application by engaging in daily physical activities.

15. Gas Fee Consumption - ETH Chain

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ins-20 (NFT) - It is an Ethscription project that started a fair mint on December 25. Currently available for trading on OpenSea and Blur, it has gained significant popularity, and it is recommended to stay updated on its development.

16. Gas Fee Consumption - BSC Chain

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PancakeSwap (DApp) - Recently grew its trading volume significantly with the launch of version V3 and doubled its market share. PancakeSwap V3 brings numerous improvements, including increased capital efficiency, reduced trader fees, enhanced rewards for liquidity providers, and an improved user experience. It has also ventured into blockchain gaming, introduced fiat channels, and expanded its Yield Farming.

17. Gas Fee Consumption - Polygon Chain

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Port3_aggregator (Dapp): the Port3 project is a blockchain project aiming to be a gateway to Web3 social data, providing open data services by aggregating Web2 and Web3 data. Port3 is structured around three fundamental modules: data collection, data reading, and data application. These modules are integral in aggregating various types of information, including community dynamics, social media trends, and on-chain transaction data. Recently, the Port3 Network launched a BRC-20 section and is set to release Bitcoin BQL. It is advisable to keep a close watch on these developments.

18. Gas Fee Consumption - Arbitrum Chain

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 38

Vertex (DApp) - Vertex is a decentralized exchange (DEX) protocol based on Arbitrum, offering cross-margin trading services. It integrates spot, perpetual contracts, and money markets into one application. It is currently the most active derivatives platform on Arbitrum.

19. Gas Fee Consumption - Base Chain

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 39

DackiEgg (NFT) - It is an NFT collection released on Base Chain on December 25, with 171,000 followers on its official X account. The project not only features NFTs but also has issued the $DACKIE token and its corresponding swap. With a certain level of popularity, the project is worth further monitoring.

20. Twitter Trends Token Top Rank

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 40

SOL (Token) - The Solana token rose as high as $118 on December 24, reaching a new high for the year. Solana has experienced a surge in popularity recently, accompanied by a rise in activity within its ecosystem due to the rebounding of the Solana token. With projects in the ecosystem gradually recovering, and emerging meme projects providing strong wealth effects, the Solana token has received wide attention.

Ray (Token) - RAY is the native token of Raydium, one of the top DEX projects in the Solana ecosystem. As the Solana ecosystem recovers, RAY's price has also rebounded. In addition, Raydium also has the functionality of a Launchpad, which may potentially host IDO projects in the future.

21. Google Trends - Global

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Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 42

Kusama (Token) - Kusama is a unique blockchain project that serves as a "wild" version of Polkadot, or an experimental network, providing developers with an efficient and low-cost environment to test and experiment with new blockchain applications and features. As the Polkadot ecosystem experiences a general upward trend, the token price of Kusama has also rebounded.

22. Google Trends Surge - East Asia, South Asia, Southeast Asia, Hong Kong, Macau, and Taiwan

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Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 44

a) South Asia Region

India Trends: Defillama, Hook, Polka dot, Moonriver

Pakistan Trends: Solana, Degocoin

b) Southeast Asia Region

Malaysia Trends: SOL, XRP, Shiba Inu

Philippines Trends: Moonriver, Bitcoin, Solana

Singapore Trends: NEAR, Solana, Kusama, Moonriver

Indonesia Trends: Bitcoin, Movr, Kusama

c) East Asia

Trends: CSPR, Solana

23. Google Trends Surge - English-speaking Countries, Europe, CIS Region

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Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 46

a) CIS Region Trends: crypto bubbles

b) English-speaking Countries

Australia Trends: Kusama, Objective, Glmr, Beam, Quant

UK Trends: Kadena, AGIX, TAO, Osmosis, CAKE

USA Trends: Kusama, Moonriver, Kadena, Sora

Canada Trends: Solana, Flux, Mina

c) Europe

France Trends: QNT, XNA, Kusama, WOO, ACA, Celo

Poland Trends: Solana, Moonriver, Bitcoin, Polkadot

Switzerland Trends: ICP, GRT, Solana, IOTA, Vechain, Metis

Türkiye Trends: Crypto market, YOYOW, crypto bubble

Germany Trends: SOL, Pi, CorgiAI, Welche, Kusama

Italy Trends: Kusama, Solana, IOTA

Spain Trends: Theta, AXS, Kusama, KSM

24. Google Trends Surge - Middle East, Latin America, Africa

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 47

Bitget Research: Cancun Upgrade Enters Testing Phase, Capital Flows Back to Ethereum Ecosystem image 48

a) Africa

South Africa Trends: Solana, Polkadot, Bitcoin, ICP

Nigeria Trends: Solana, DCA

Middle East Trends: Solana, Bitcoin

c) Latin America

Brazil Trends: Arbitrum, GMX, Kusama, Solana, AVAX

Argentina Trends: NEAR, ROSE, CAKE, Solana

Mexico Trends: MANA, Solana, Bitcoin

Reference Links

1. Dune On-Chain Data Dashboard - Blockchain Profile: https://dune.com/bitgetresearch/bitgetreseach-chains-overview

2. Dune On-Chain Data Dashboard - Gas Consumption: https://dune.com/bitgetresearch/gas-overview