Bitget Research Weekly News: Traditional financial giant Franklin applies for a spot BTC ETF, FTX receives court approval to liquidate crypto assets

Author: Bitget Research

In the past week (09.04-09.08), the market saw several new trending coins and topics.

1. Market Trends

The main focus of the market this week (09.11-09.15) is:

• BANANA GUN continues to rise after its relaunch, FTX opposes BlockFi's bankruptcy plan

• FTX has been approved by the court to liquidate crypto assets, and the U.S. August CPI exceeded expectations, maintaining interest rate hike expectations

• Traditional financial giant Franklin applies for a spot BTC ETF, and the market temporarily stops falling due to positive news

• BTC briefly dropped below $25,000, and the Banana Gun sale incident will reopen

• FTX may sell assets to repay user funds, and altcoins are experiencing downward breaks

2. Popular Projects

The hottest projects this week (09.11-09.15) are:

ORDI (Token): At the recent Token 2049 conference in Singapore, Domo announced the establishment of a Layer 1 foundation aimed at promoting decentralized indexing and governance. Unisat wallet revealed details of the BRC 20-swap, which will integrate the inscription virtual machine and the Lightning Network; as a leading project in BRC 20, ORDI has rebounded over 15% in the past 3 days, with a 24-hour trading volume of $11 million;

шайлушай (Token): In Russian, the full name of the token is Real Smurf Cat, also known as Shailushai in English. It is a blue creature that looks like a mix of a cat, a Smurf, and a mushroom, gaining high popularity in the English community, suspected to be a Pepedev arrangement. Its current market cap has reached $3 million, with a 24-hour trading volume of $7.76 million;

RICKY (Token): A meme coin based on Ricky Morty, an American adult animated sci-fi sitcom. The project gained significant popularity after its launch, with a market cap of $1 million and a 24-hour trading volume of $1.8 million;

OSMO (Token): A new Telegram Bot project with a total market cap below $2 million, currently featuring Bridge Swap | Token Creation | Mev Blocker functions. The bot's user count surpassed 9,000 over the weekend, showing continuous growth. The recent Banana Gun token issuance incident has drawn significant attention to the Telegram Bot sector;

Sugartown Oras (NFT): The first Sugartown series from Zynga Web3 Gaming, Oras is a collection of 9,999 unique creatures from another dimension. Oras creatures enter Sugartown through a rift in the space-time continuum, accidentally created by three farm friends during game development. The NFT currently ranks first on Opensea's new project list, with a 24-hour trading volume of 667 ETH and 2,929 unique holders;

Avive Profile NFT (NFT): The goal of the Avive world project is to create a metaverse social network. Holding this profile NFT grants access to vv token airdrops. It has just completed an NFT Free Mint Event, with on-chain holders exceeding 95,000 and over 700,000 Twitter followers;

Friend.Tech (Dapp): Community rumors suggest that Friend.Tech's funding has closed, and VCs can no longer invest. Analysis indicates that the only way to acquire future tokens is through protocol interactions. Recent data shows significant growth, with TVL surpassing $30 million and protocol fees reaching $1.2 million in the past 24 hours, ranking third after Ethereum and Lido, with total fees exceeding 5,000 ETH;

Banana Gun Router (Dapp): Yesterday, Banana Gun completed the distribution of 740 ETH, and the project is expected to relaunch its new token soon. The project's operational willingness is strong, and community interest is high. The new token launch may create a favorable wealth effect, warranting continued attention;

The Graph (Dapp): The Graph is a decentralized data indexing and querying platform that expanded to Arbitrum in February this year. On Thursday, September 14, at 1 PM (Eastern Time), members of The Graph community will livestream on X Space to share their story of expanding to Layer 2, titled "Scaling The Graph on L2";

3. Hot Searches

The hottest topics this week (09.11-09.15) are:

JPEX (CEX): On September 13, the Hong Kong Securities and Futures Commission warned that the JPEX cryptocurrency exchange may face criminal liability for marketing to the public in Hong Kong without registration. It pointed out that JPEX earns service fees of up to 20%, indicating significant risks. Following the warning from the Hong Kong Securities and Futures Commission, JPEX began raising withdrawal fees, with a maximum of 980 USDT and a maximum withdrawal limit of 1,000 U. The Hong Kong Securities and Futures Commission responded to media inquiries, stating that it has referred the matter to the police for follow-up;

GALA (Token): Gala Games has been reported that two co-founders are suing each other, with the GALA asset value involved exceeding $700 million. On the other hand, Gala announced that it will fully migrate the Gala platform to GalaChain by the end of the year, simplifying usage thresholds and development tools to provide comprehensive self-service for external teams by year-end. The price remains low after recently hitting a historical low;

APE (Token): In recent days, ApeCoin DAO has launched the fourth batch of staking rewards for the first year. From September 12, 2023, to December 10, 2023, ApeCoin DAO will distribute 1,500 APE to stakers. Continuous inflation will lead to token price dilution, and early whales who obtained 5 million APE tokens from the Apecoin Treasury have transferred 2.6 million APE to OKX, suspected of selling;

Polygon (Dapp): Polygon Labs released three proposals yesterday regarding the Polygon 2.0 upgrade and POL token migration. PIP-17 "Phase 0" ensures that end users and developers do not need to take any action on existing Polygon PoS and Polygon zkEVM chains during the upgrade. PIP-18 proposes the implementation of POL tokens, intended to replace the existing MATIC tokens as the native gas and staking asset of the Polygon ecosystem. PIP-19 aims to upgrade the native gas token on Polygon PoS from MATIC to POL in a manner that ensures maximum backward compatibility;

TWT (Token): On September 11, when a netizen asked CZ, "What other exchanges do you like besides Binance?" CZ replied, "I only use Binance or PancakeSwap. In fact, I'm not very clear about what TrustWallet uses on the backend. I also use TrustWallet." The price of TWT saw a temporary spike before declining again;

【Disclaimer】The market has risks, 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.