Bitget Research Weekly News: SEC Delays Approval Decision on Seven Spot Bitcoin ETF Proposals, ARB Price Hits Recent Low

Author: Bitget Research

In the past week (08.28-09.01), the market has seen several new trending coins and topics.

1. Market Trends

The most focused topics in the market this week (08.28-09.01) are:

• SEC delays the approval decision for seven spot Bitcoin ETF proposals, ARB price hits a recent low

• Market correction awaits BTC ETF review progress, Base public chain DEX Aerodrome's TVL surpasses $100 million after launch

• Grayscale wins a short-term lawsuit against SEC, CYBER surges 100% in two days

• PEPE scandal triggers multiple "new PEPE" speculations, HashKey Exchange officially opens to retail investors

• BASE ecosystem remains active, Starknet TVL rebounds

2. Popular Projects

The most popular projects this week (08.28-09.01) are:

PEPE (Token): PepeCommunity, recently gaining high popularity, Twitter space remains open with over 210 participants, good user discussion, on-chain liquidity of $642,000, and a 24-hour trading volume of $12.16 million, worth keeping an eye on;

PSYOP (Token): A meme coin issued by Ben.eth. Previously, it had a history of surging 20 times in one day due to a tweet from Elon Musk. In recent days, the price has rebounded by 100%, with a 24-hour trading volume reaching $3 million, ranking high on-chain;

USDC (Token): Circle announced that native USDC has launched on the Arbitrum network, allowing developers and users to access it without bridging. Circle Account and Circle API enable businesses to access Arbitrum USDC and benefit from faster settlement times and lower costs provided by the Arbitrum network. However, currently, there is still USDC.e bridged from Ethereum on the Arbitrum network, with usage exceeding native USDC, in a smooth transition period;

Avive Profile NFT (NFT): Personal profile NFT of the Avive world project, aimed at creating a metaverse social network; holding this profile NFT can earn vv token airdrops, with the current number of holders at 27,488, showing high project popularity, worth keeping an eye on;

Pandra (NFT): NFT issued by Polyhedra Network, participating in the Pandra series NFT cross-chain may gain future project benefits. Currently, it can interact with both zkBridge and LayerZero, with airdrop hunters boosting the interaction data of this NFT;

Uniswap (Dapp): A judge from the Southern District of New York recently dismissed a class-action lawsuit against Uniswap and Paradigm, where the plaintiffs attempted to hold these companies accountable for selling fraudulent tokens on the Uniswap AMM; according to U.S. securities law, this does not mean Uniswap is liable for fraud and the resulting damages, which is a favorable outcome for Uniswap;

Tether (Dapp): Tether's transparency report shows that Tether currently has nearly $3.3 billion in liquidity buffer reserves. As of August 24, Tether's total assets were $86.1 billion, total liabilities were $82.8 billion, and the reserve ratio exceeded 100%. Currently, Tether is using the Bahamian private bank Britannia Bank & Trust to handle its USD transfer business;

friend.Tech (Dapp): The daily trading volume of friend.tech has sharply decreased from $16 million observed on August 21 to about $700,000 today, a drop of over 95%, showing a significant decline in popularity. Early speculative funding has ongoing sustainability issues, and the project is currently focused on product updates and monitoring user activity data;

3. Hot Searches

The hottest topics this week (08.28-09.01) are:

BTC (Token): The U.S. Securities and Exchange Commission (SEC) stated on Thursday that it would delay the approval decision for seven spot Bitcoin ETF proposals due to its review of a recent round of application documents. As a result, the gains from Grayscale's victory over the SEC have all been reversed, leading to a market downturn;

Merit Circle (Token): Coinspot (Australia's largest cryptocurrency exchange) and Indodax (Indonesia's largest fiat-compliant exchange) launched Merit Circle token trading yesterday. Recently, Merit Circle held a giveaway event in collaboration with Space Mavericks, with 30 winners receiving Goliath Pioneer Spaceship NFT rewards. The token trading volume and price surged, with the token price increasing by 15.3%, showing good project popularity;

CYBER (Token): Recently, positive news has been continuous, with DWF's purchase of tokens in the secondary market leading to a surge in the project's token price. The token has caused continuous liquidations for short sellers, driving the price up. The token remains popular, with Binance announcing an update to CYBER's contract funding rate reaching a maximum of -2.5%;

The Bitget Research Institute focuses on "focusing on on-chain data and uncovering valuable assets," providing institutional-level insights for crypto enthusiasts by real-time monitoring of on-chain data and regional hot searches to uncover cutting-edge value investments. To date, it has provided Bitget global users with early valuable assets in several popular sectors such as [Arbitrum ecosystem], [AI ecosystem], and [SHIB ecosystem], creating a better wealth effect for Bitget global users through data-driven in-depth research.

[Disclaimer] The market is risky, and investment should be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views, or conclusions in this article align with their specific circumstances. Investment based on this is at one's own risk.