Bitget Research Weekly News: LayerZero Financing Sparks Airdrop Frenzy, Shanghai Upgrade Boosts LSD Sector Outperforming the Market
Focus on on-chain data, weekly news roundup.Author: Bitget Research Institute
In the past week (4/3 - 4/7), the market has seen several new trending coins and topics.
1. Market Trends
The most discussed topics in the market this week (04.03-04.07) are:
LayerZero financing has sparked an interaction frenzy, with the NFT market focusing on Vessel.
BTC's upward momentum is weak, and the Shanghai upgrade has allowed the LSD track to outperform the market.
Twitter's internal rebranding has led to a surge in Doge, while the Arbitrum improvement proposal was not passed.
Bitget Research Institute: The Arbitrum Foundation's transparency has been criticized, and the market is lackluster with no hot topics.
2. Popular Projects
The hottest projects this week (04.03-04.07) include:
SOV (TOKEN): A meme token on Ethereum, with a DEX 24-hour trading volume of 3.72 M USD. The community user base is average but very FOMO-driven. The current market cap has reached $276 M, with a market cap of over $28 million USD, which is too high to sustain significant upward movement.
XEN (token): XEN's price has tripled in the past week but has recently pulled back, with a 24-hour trading volume of $29 million. The XEN project team has introduced the DBXEN project to promote the deflation of $XEN, recently burning 10.8 billion $XEN on Ethereum within four days.
SQUA (TOKEN): The project team claims it is a payment token, with a liquidity pool of $6.15 million and a daily trading volume of $1.96 million. The volume is decent, and the contract is clean, making it worth ongoing attention.
BOB (TOKEN): BOB is a multi-chain, multi-collateral stablecoin that enhances optional privacy features. Once BOB is deposited into the zk Bob application, pool participants can transfer BOB among themselves in a private and secure manner. Currently, this token is stable at a 1:1 exchange rate with USDC, with a 24-hour on-chain trading volume of $2.99 million and a liquidity pool of $6.51 million. The number of holding addresses has reached 3,110, and decentralized stablecoins are currently gaining popularity, making it worth watching.
ARB (token): After the Arbitrum AIP-1 proposal was not passed, with 76.67% of votes against it, today the Arbitrum Foundation submitted two new proposals to expand ARB holders' oversight and governance powers. The first proposal is to place the remaining 700 million ARB tokens under "smart contract-controlled lock," which will unlock over four years. The foundation will not be able to use the tokens until the community approves the token allocation budget. The second proposal is to modify several governance parameters of the Arbitrum ecosystem. Currently, $ARB is fluctuating between $1.1 and $1.2, with no significant price volatility.
Gemesis (NFT): The NFT airdropped to users after Gem rebranded to Opensea Pro, designed for professional NFT users, with a total of 180,000 "Gemesis" NFTs airdropped. Yesterday, due to a contract bug, the total reached the mint limit at 60,000, causing the floor price to spike to 0.07 ETH, but it has since been changed by the developers. The current floor price is 0.036 ETH, with a total minted amount of over 75,000 and a total trading volume of 2,915 ETH, with 44,167 holders.
Otherdeed (NFT): The Koda NFT split and Vessel Claim for Otherside began yesterday and will remain open indefinitely. Only holders of Koda Otherdeeds can split, but all Otherdeed holders can claim one Vessel NFT, increasing attention on the project.
Vessel (NFT): The Koda NFT split and Vessel Claim for Otherside began yesterday and will remain open indefinitely. Only holders of Koda Otherdeeds can split, but all Otherdeed holders can claim one Vessel NFT. Currently, the total trading volume of Vessel NFTs has reached 1,506 ETH, with 9,151 holders, ranking high in Opensea's popularity.
Worldcoin (Dapp): Worldcoin, a cryptocurrency company founded by OpenAI CEO Sam Altman, plans to launch its mainnet in the first half of this year. Worldcoin aims to issue a global digital currency to everyone worldwide and build a unique personal identification code through a spherical device that scans irises, ensuring that the digital currency each person receives is unique. The token is expected to launch in the first half of this year.
STARGATE (Dapp): On April 4, LayerZero Labs completed a $120 million Series B funding round at a valuation of $3 billion, with participation from a16z Crypto, Christie's Auction House, Sequoia Capital, Samsung Next, BOND, Circle Ventures, and OpenSea Ventures. As LayerZero has not yet issued tokens, expectations for airdrops have led to frequent interactions.
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