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Bitget Research: Multiple Indicators Suggest Approval of Spot Bitcoin ETF, Bitcoin Surpasses $47,000

Tommy & John
2024/01/09
Bitget Research: Multiple Indicators Suggest Approval of Spot Bitcoin ETF, Bitcoin Surpasses $47,000

In the past 24 hours, many new popular tokens and topics have emerged in the 609566d6-6816-464f-bf51-b79de32ea3d6, and perhaps they will be the next focus of the market.

In Summary:

1.Popular Tokens:

BTC (Token) - The BitVol index, launched by financial index company T3 Index in collaboration with Bitcoin options trading platform LedgerX, fell to 74.51 yesterday, a daily decrease of 1.79%. The total number of open Bitcoin futures contracts across the network rose to 435,700 BTC (approximately $20.443 billion), with an increase of 11% in the past 24 hours. The market is currently awaiting the approval of the Bitcoin ETF.

PTGE (Token) - A relatively new BRC-20 asset, with a 24-hour trading volume surpassing that of BTC (approximately $1 million). But the transaction count is only 74, with 855 holders. This indicates that the trading activity might predominantly involve whales and large account holders transferring assets among themselves.

AUCTION (Token) - The token of Bounce Finance, which recently concluded the PORT3 initial offering. The biggest participant, identified as 0xf53f, made a profit of $9455. However, the price of AUCTION has fallen by 35% over the past 7 days. Consequently, users holding spot tokens during the initial offering may not have made a profit.

Port3 (Token) - Port3, a social data gateway, held its public sale on January 7 at 22:00 (UTC+8) on platforms such as Bounce Brand, WePad, FlyBTC, and Poolz Finance, with the token ticker being PORT3. Established in 2022, Port3 Network is a portal for accessing and aggregating Web3 social data. The SoQuest application by Port3 enables projects to incentivize users to share their data through tasks and rewards to drive traffic. There is a rug pull project named PORT3 on BSC, necessitating caution against trading risks with tokens of the same name.

CAKE (Token) - On January 4, the multi-chain decentralized exchange PancakeSwap announced that the maximum supply of its CAKE token had been reduced from 750 million to 450 million. On January 8, PancakeSwap reported the burning of 8,740,957 CAKE tokens, valued at approximately $25 million.

ORDS (Token) - Ordiswap operates as a swap connecting BRC-20, offering products such as swap, bridge, and the stablecoin BTSD (Ordiswap’s Bitcoin Standard Dollar). The ORDS token has an on-chain 24-hour trading volume of $5.35 million, with 1365 transactions during the same period.

2.Popular NFTs:

Smart Cats (NFT) - An NFT project launched by SmartLayer, which has very high on-chain popularity. Users can interact with Smart Cats NFTs by feeding, cleaning, and other activities. The NFTs have a very high level of interaction. SmartLayer's official announcement of "Airdrop Confirmed" hints at an upcoming airdrop and TGE.

Azuki (NFT) - Azuki's official X account followed the Weeb3 Foundation and retweeted their tweet: "Towards an open anime universe." The Weeb3 Foundation's account description reads, "Creating the open anime universe. Powered by $ANIME." The community speculates that ANIME might be a token soon to be issued by Azuki. Influenced by this news, Azuki has been at the top of the trading activity chart for several consecutive days.

3.Popular DApps:

Turnup (DApp) - A Web3 Social Gaming Ecosystem, Turnup saw a significant surge in on-chain transaction data yesterday, climbing to the top of the Polygon DApps daily active users chart. The project team promised in a tweet that once they rank first on the daily active users chart, they will host an AMA with Polygon founder Sandeep Nailwal.

Gas Hero (DApp) - The Polygon NFT market experienced a daily trading volume of over $8 million yesterday, largely due to the newly released blockchain game Gas Hero introduced by the developers of Stepn. The majority of Polygon's on-chain NFT trading volume is concentrated in the Mooar market, launched by Stepn developers Find Satoshi Lab. In turn, a significant portion of Mooar NFT market transactions are contributed by Gas Hero, which was also recently introduced by Find Satoshi Lab.

Ducky City (DApp) - A GameFi project on the Base chain. The DApp saw its daily active players reach a record number of 13,016, with an online player count of 1684. The project aims to be a combination of Metaverse, SocialFi, and GameFi.

Sleepless AI (DApp) - SleeplessAI's first NFT, HIM Genesis I, has concluded its auction. The highest single bid exceeded 510 BNB, with the total auction amount surpassing 8477 BNB, approximately equivalent to $2.6 million. After completing a Launchpool on Binance, it has been listed on several exchanges.

XSaiyan (DApp) - A replica of Xpet, XSaiyan is a character development game themed around Super Saiyans. Users can embed a window outside of Twitter and engage in 'play-to-earn' activities by developing Saiyan characters. The continuous significant drop in the token's value has led to dissatisfaction among community members.

4.Twitter Hot Topics:

BONK (Token) - With the rebound in BONK's price, whale addresses have re-engaged in trading BONK. An address that previously earned $6.9 million through BONK transactions has today spent 386 SOL (approximately $40,000) to buy 2.39 billion BONK.

5.Regional Trending Searches:

BTC (Token) - The BitVol index, launched by financial index company T3 Index in collaboration with Bitcoin options trading platform LedgerX, fell to 74.51 yesterday, a daily decrease of 1.79%. The total number of open Bitcoin futures contracts across the network rose to 435,700 BTC (approximately $20.443 billion), with an increase of 11% in the past 24 hours. The market is currently awaiting the approval of the Bitcoin ETF.

Main Body

Written by: Bitget Research

Data collection time: January 9, 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

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PTGE (Token) - A relatively new BRC-20 asset, with a 24-hour trading volume surpassing that of BTC (approximately $1 million). But the transaction count is only 74, with 855 holders. This indicates that the trading activity might predominantly involve whales and large account holders transferring assets among themselves.

2.Blockchain Profile - ETH Chain

2.1 User Profile

2.1.1 Core Data

Total active users on ETH: 437,975

New active users on ETH: 91,062, with a daily decrease of 12.49%

Existing active users on ETH: 346,913, with a daily decrease of 4.75%

2.1.2 New User Profile

Core data: There were a total of 91,062 new active users on ETH yesterday, with a daily decrease of 12.49%

Popular Sectors

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Popular Projects

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AUCTION (Token) - The token of Bounce Finance, which recently concluded the PORT3 initial offering. The biggest participant, identified as 0xf53f, made a profit of $9455. However, the price of AUCTION has fallen by 35% over the past 7 days. Consequently, users holding spot tokens during the initial offering may not have made a profit.

2.1.3 Existing User Profile

Core data: The number of ETH active existing users is 346,913, with a daily decrease of 4.75%

Popular Sectors

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Popular Projects

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Port3 (Token) - Port3, a social data gateway, held its public sale on January 7 at 22:00 (UTC+8) on platforms such as Bounce Brand, WePad, FlyBTC, and Poolz Finance, with the token ticker being PORT3. Established in 2022, Port3 Network is a portal for accessing and aggregating Web3 social data. The SoQuest application by Port3 enables projects to incentivize users to share their data through tasks and rewards to drive traffic. There is a rug pull project named PORT3 on BSC, necessitating caution against trading risks with tokens of the same name.

2.2 Popular Trading Pairs

2.2.1 Uniswap V2

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ORDS (Token) - Ordiswap operates as a swap connecting BRC-20, offering products such as swap, bridge, and the stablecoin BTSD (Ordiswap’s Bitcoin Standard Dollar). The ORDS token has an on-chain 24-hour trading volume of $5.35 million, with 1365 transactions during the same period.

2.2.2 Uniswap V3

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Port3 was described earlier in the report.

2.3 Popular NFTs

2.3.1 Top NFT Collections

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Gas Hero (DApp) - The Polygon NFT market experienced a daily trading volume of over $8 million yesterday, largely due to the newly released blockchain game Gas Hero introduced by the developers of Stepn. The majority of Polygon's on-chain NFT trading volume is concentrated in the Mooar market, launched by Stepn developers Find Satoshi Lab. In turn, a significant portion of Mooar NFT market transactions are contributed by Gas Hero, which was also recently introduced by Find Satoshi Lab.

Azuki (NFT) - Azuki's official X account followed the Weeb3 Foundation and retweeted their tweet: "Towards an open anime universe." The Weeb3 Foundation's account description reads, "Creating the open anime universe. Powered by $ANIME." The community speculates that ANIME might be a token soon to be issued by Azuki. Influenced by this news, Azuki has been at the top of the trading activity chart for several consecutive days.

3.Blockchain Profile - BSC

3.1 User Profile

3.1.1 Core Data

Total active users on BSC: 1,428,134

New active users on BSC: 219,405, with a daily increase of 30.83%

Existing active users on BSC: 1,208,729, with a daily increase of 9.71%

3.1.2 New User Profile

Core data: There were a total of 219,405 new active users on BSC yesterday, with a daily increase of 30.83%

Popular Sectors

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Popular Projects

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TinyTap (DApp) - TinyTap is a vast library of games created by educators. Now under the umbrella of Animoca Brands, the project is dedicated to forging an open, blockchain-driven educational ecosystem. Animoca Brands has announced plans to purchase additional EDU tokens from the open market. Binance Labs invested $3.15 million in the Web3 education protocol Open Campus, bringing a significant level of traffic to the Web3 education sector.

3.1.3 Existing User Profile

Core data: The number of BSC active existing users is 1,208,729, with a daily increase of 9.71%

Popular Sectors

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Popular Projects

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Sleepless AI (DApp) - SleeplessAI's first NFT, HIM Genesis I, has concluded its auction. The highest single bid exceeded 510 BNB, with the total auction amount surpassing 8477 BNB, approximately equivalent to $2.6 million. After completing a Launchpool on Binance, it has been listed on several exchanges.

CAKE (Token) - On January 4, the multi-chain decentralized exchange PancakeSwap announced that the maximum supply of its CAKE token had been reduced from 750 million to 450 million. On January 8, PancakeSwap reported the burning of 8,740,957 CAKE tokens, valued at approximately $25 million.

3.2 Popular Trading Pairs

3.2.1 PancakeSwap V2

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No new popular assets have emerged on the BSC.

4.Blockchain Profile - Polygon Chain

4.1 User Profile

4.1.1 Core Data

Total active users on Polygon: 649,568

New active users on Polygon: 115,897, with a daily increase of 20.38%

Existing active users on Polygon: 533,671, with a daily increase of 1.66%

4.1.2 New User Profile

Core data: There were a total of 115,897 new active users on Polygon yesterday, with a daily increase of 20.38%

Popular Sectors

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Popular Projects

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Turnup (DApp) - A Web3 Social Gaming Ecosystem, Turnup saw a significant surge in on-chain transaction data yesterday, climbing to the top of the Polygon DApps daily active users chart. The project team promised in a tweet that once they rank first on the daily active users chart, they will host an AMA with Polygon founder Sandeep Nailwal.

4.1.3 Existing User Profile

Core Data: The number of Polygon active existing users is 533,671, with a daily increase of 1.66%

Popular Sectors

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Popular Projects

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Smart Cats (NFT) - An NFT project launched by SmartLayer, which has very high on-chain popularity. Users can interact with Smart Cats NFTs by feeding, cleaning, and other activities. The NFTs have a very high level of interaction. SmartLayer's official announcement of "Airdrop Confirmed" hints at an upcoming airdrop and TGE.

4.2 Popular Trading Pairs

4.2.1 Uniswap V3

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No new popular assets have emerged on the Polygon Chain.

5.Blockchain Profile - Arbitrum Chain

5.1 User Profile

5.1.1 Core Data

Total Active Users on Arbitrum: 175,067

New Active Users on Arbitrum: 31,189, with a daily increase of 18.54%

Existing Active Users on Arbitrum: 143,878, with a daily increase of 9.72%

5.1.2 New User Profile

Core data: There were a total of 31,189 new active users on Arbitrum yesterday, with a daily increase of 18.54%

Popular Sectors

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Popular Projects

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XSaiyan (DApp) - A replica of Xpet, XSaiyan is a character development game themed around Super Saiyans. Users can embed a window outside of Twitter and engage in 'play-to-earn' activities by developing Saiyan characters. The continuous significant drop in the token's value has led to dissatisfaction among community members.

5.1.3 Existing User Profile

Core data: The number of Arbitrum active existing users is 143,878, with a daily increase of 9.72%

Popular Sectors

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Popular Projects

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XAI (DApp) - The contract address for claiming XAI tokens is 0x149107dEB70b9514930d8e454Fc32E77C5ABafE0. The only legitimate contract address for XAI tokens is 0x4Cb9a7AE498CEDcBb5EAe9f25736aE7d428C9D66. The official start time for the token claim is January 9, 2024, at 5:30 PM (UTC+8). The Arbitrum ecosystem gaming project XAI has issued a warning that as the XAI token claiming event approaches, community members should remain vigilant to prevent potential scams.

5.2 Popular Trading Pairs

5.2.1 Uniswap V3

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ARB (Token) - The Arbitrum community has voted in favor of the "ArbOS 11 version" AIP proposal. This proposal introduces several improvements and bug fixes, including support for the EVM Shanghai upgrade and the PUSH0 opcode. It is also noteworthy that Wintermute has been frequently transferring ARB between on-chain and CEXs, with a significant unlocking of ARB expected in March.

6.Blockchain Profile - Base Chain

6.1 User Profile

6.1.1 Core Data

Total Active Users on Base: 76,426

New Active Users on Base: 11,332, with a daily increase of 31.13%

Existing Active Users on Base: 65,094, with a daily increase of 24.78%

6.1.2 New User Profile

Core data: There were a total of 11,332 new active users on Base yesterday, with a daily increase of 31.13%

Popular Sectors

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Popular Projects

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Merkly (DApp) - Merkly is a multifunctional Omnichain platform, aiming to simplify bridging through the groundbreaking technology of LayerZero. The purpose of the refuel contract is to provide gas fees for chains without gas by using a swap and cross-chain method.

6.1.3 Existing User Profile

Core data: The number of Base active existing users is 65,094, with a daily increase of 24.78%

Popular Sectors

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Popular Projects

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Ducky City (DApp) - A GameFi project on the Base chain. The DApp saw its daily active players reach a record number of 13,016, with an online player count of 1684. The project aims to be a combination of Metaverse, SocialFi, and GameFi.

7. DApp Ecosystem - All Chains

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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.

8.DApp Ecosystem - ETH Chain

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Uniswap (DApp) - According to the Snapshot page, the Uniswap community has proposed a temperature check proposal aimed at lowering the current proposal threshold (PT). The proposal suggests reducing the threshold from 2.5 million UNI tokens to 1 million UNI tokens. This move is intended to broaden the base of representatives eligible to submit on-chain proposals, thereby increasing representative participation.

9.DApp Ecosystem - BSC

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QnA3 (DApp) - An AI-driven Web3 knowledge sharing platform, QnA3.AI has been selected for Binance Labs' Incubation Program Season 6 and awarded the title of a high-potential project on the 6th anniversary of BNB Chain, with an expected airdrop.

10.DApp Ecosystem - Polygon Chain

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Yuliverse (DApp) - Yuliverse has established a new investment partnership with DWF Labs. Yuliverse is a free-to-play blockchain metaverse game that combines GameFi and SocialFi elements, utilizing NFTs and the cryptocurrencies ARG and ART. Designed to enhance social interaction and engagement, it allows players to explore the real world and build connections. Yuliverse's game mechanics include elements of earning potential, providing a unique gaming experience for players.

11.DApp Ecosystem - Solana Chain

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Jupiter (DApp) - Meow, the co-founder of Jupiter, outlined plans for a JUP token airdrop at the end of this month. To facilitate this, 10% of the tokens will be extracted from the team's wallet and 15% from the community wallet for use as liquidity provision, initial airdrops, and meeting community activity demands. It is estimated that on the first day of launch, between 15% and 17.5% of the tokens will enter the market circulation, with 10% to 7.5% stored in hot wallets and 75% stored in cold wallets.

12.DApp Ecosystem - Arbitrum Chain

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WOOFi (Dapp) - The cryptocurrency trading platform WOO X is set to expand its Designated Market Maker (DMM) program to the spot market this month. According to WOO X, since the launch of the perpetual contract DMM model in August 2023, the model currently accounts for nearly 80% of all pending order transactions in the perpetual futures market.

13.DApp Ecosystem - Base Chain

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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. 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.

14.DApp Ecosystem - GameFi Sector Across All Chains

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Pixels (DApp) - During a community AMA, the blockchain game Pixels announced that the second season of Play to Airdrop will commence on January 5. The distribution amount in season 2 will be less compared to the first and may include a lottery system. Furthermore, the token generation event (TGE) for the game's main token, PIXEL, will occur within one to two weeks, and the rewards from Play to Airdrop's first season will be distributed before this TGE.

15.Gas Fee Consumption - ETH Chain

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Maestro (DApp) - Maestro is a renowned on-chain bot, and the crypto community highly favors that. Maestro's daily transaction fees have increased to previous high points, ranging between $150,000 and $200,000, which helps it maintain its top position in the BOT sector.

16.Gas Fee Consumption - BSC

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Seg Finance (DApp) - A Play2Earn project on the BSC, where users can stake their shoe NFTs or provide liquidity to earn passive BNB profits. The project is now open source, and its contract on the BSC is transparent. It has over 1500 followers on Twitter and is an essential project to stay updated on.

17.Gas Fee Consumption - Polygon Chain

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CoinTool (DApp) - A renowned on-chain toolbox extensively utilized on the Polygon Network. Its XEN Batch Minter feature assists users in batch-minting XEN tokens.

18.Gas Fee Consumption - Arbitrum Chain

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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

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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. 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.

20.Top Trending Tokens on Twitter

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BONK (Token) - With the rebound in BONK's price, whale addresses have re-engaged in trading BONK. An address that previously earned $6.9 million through BONK transactions has today spent 386 SOL (approximately $40,000) to buy 2.39 billion BONK.

21.Google Trends - Global

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Bitget Research: Multiple Indicators Suggest Approval of Spot Bitcoin ETF, Bitcoin Surpasses $47,000 image 42

BTC (Token) - The BitVol index, launched by financial index company T3 Index in collaboration with Bitcoin options trading platform LedgerX, fell to 74.51 yesterday, a daily decrease of 1.79%. The total number of open Bitcoin futures contracts across the network rose to 435,700 BTC (approximately $20.443 billion), with an increase of 11% in the past 24 hours. The market is currently awaiting the approval of the Bitcoin ETF.

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

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a) South Asia Region

India Trends: xlm, ada

Pakistan Trends: dca, etf, bybit

b) Southeast Asia Region

Malaysia Trends: lunc, btc

Philippines Trends: trx, dca

Singapore Trends: coinhall, matic, bybit

Indonesia Trends: cosmos, gmi, pasar

c) East Asia

Trends: aptos, yfi, stablecoin

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

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a) CIS Region

Trends: bybit, port3, binance, shib

b) English-speaking Countries

Australia Trends: ngs, agix, hex, crv

UK Trends: manta network

USA Trends: etc, btc

Canada Trends: stx, inj, grok, xrp

c) Europe

Poland Trends: stx, inj, cro, dolar

Switzerland Trends: compound, eth, xrp, avax, beam

Turkey Trends: mexc, gate, selcoin, coinmarketcap

Germany Trends: pepe, xrp, etc, axie, depin

Italy Trends: btc, fantom

Spain Trends: cel, btc, tia, xlm, avax

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

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a) Africa

South Africa Trends: easy crypto, luno, coinbase, btc etf

Nigeria Trends: bsc crypto, matic, luna, etf

b) Middle East

Trends: xrp, dark, sol, btc, shib

c) Latin America

Brazil Trends: babydoge, bssb, sol, dot, luna, tron, op

Argentina Trends: btc, ada, sei, dolar, sol, ens

Mexico Trends: btc, binance, luna

Reference Links

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

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