Bitget Research Weekly News: Bigtime Launch Surge Attracts Market Attention, SocialFi Projects Across Chains Maintain High Popularity

Author: Bitget Research

In the past week (10.09-10.13), the market has seen several new trending coins and topics.

1. Market Trends

The main topics of interest in the market this week (10.09-10.13) are:

• The overall CPI in the U.S. remains unchanged, and ETH price hits a new low since March.
• Bigtime's launch has attracted market attention, and the Federal Reserve's meeting minutes indicate a continued possibility of interest rate hikes.
• Cipher tops the ARB user interaction chart, with SocialFi projects across various chains maintaining popularity.
• The Ethereum Foundation sold 1,700 ETH, and low on-chain activity keeps gas fees in single digits.
• Base's TVL continues to rise, and the UK implements a new financial promotion system covering the crypto sector.

2. Popular Projects

The most popular projects this week (10.09-10.13) include:

Bigtime (Token): Big Time is a PC multiplayer action role-playing game led by the former founder of Mana, who has recruited an all-star team of industry veterans from top gaming companies like Epic Games, Blizzard, EA, and Riot. Initially, it raised over $90 million through NFT sales, and the token's debut on exchanges including Bitget, OKX, and Coinbase has garnered market attention, driving an overall upward trend in the gaming sector.

SAFEREUM (Token): This project is a decentralized meme coin project, launched on Pinksale, with high participation enthusiasm. The original goal was to raise 10 ETH, but it ultimately raised 267 ETH, exceeding the target by 26.7 times. Recent on-chain data shows promising performance, with 3.54K holding addresses and a trading volume of $5.68M in the last 24 hours. The contract has relinquished ownership and locked part of the LP.

WSM (Token): A popular MEME token in the crypto community, originating from the Wall Street meme movement. The WallStMemes community has over 800,000 members, blending meme humor with Web3 elements. Besides promoting MEME value, the project also offers staking features, currently yielding over 40% annually.

LINK (Token): Chainlink recently concluded SmartCon, where co-founder Sergey Nazarov discussed important upcoming milestones for LINK, particularly CCIP. Sergey emphasized that CCIP can bring trillions of dollars in assets, especially from traditional banks and trading sectors, fully onto the blockchain.

Tip (Token): A socialfi product, this is a project for monetizing traffic. Players can bind their Twitter accounts to tipcoin, and by tagging their tweets with Tip, they can earn corresponding points, which will be linked to future project airdrops. The project has already airdropped tokens, and Bitget has listed it.

Arbitrum Odyssey - Star NFT V3 (NFT): Arbitrum has reopened the Odyssey event for the second week. Due to the Arbitrum Foundation reclaiming unissued airdropped ARB tokens and restarting the Odyssey event, there is speculation in the community that these may be used for future airdrops, leading to high participation.

Blur (Dapp): Blur posted on social media, "Blur Season 2. November 20," hinting that Season 2 will reach an important milestone on November 20.

Cipher (Dapp): Cipher is a SocialFi project running on Arbitrum, similar to friend.tech, where users can buy and sell "shares" of personal accounts called Cores, which are akin to Keys on friend.tech. The early announcement of a token airdrop has generated FOMO in the community.

Post.Tech (Dapp): Post.tech is a decentralized social platform where the boundaries between friends and assets become blurred. Here, users' networks transform into shares or keys, allowing the credibility of users and their friends to be tokenized. Each user becomes a tradable social token that can be bought, held, or utilized based on their growing reputation.

3. Hot Searches

The hottest topics this week (10.09-10.13) include:

BNT (Token): A token that has risen in the context of the Israel-Palestine conflict. Bancor's company is located in Tel Aviv, Israel, and its founder is Guy Benartzi, a well-known Israeli internet software entrepreneur and angel investor. This is similar to the rise of Waves during the Russia-Ukraine war. The trading volume of BNT tokens across the network has surged by +10,784.79% compared to yesterday, with significant trading activity. A wallet suspected to belong to Upbit has accumulated 4.71 million BNT in the past 11 hours, accounting for 3.3% of the total supply. With support from Korean funds, it may see continued price speculation, with the token price rising 40% in the past 24 hours.

BIGTIME (Token): Big Time is a PC multiplayer action role-playing game led by the former founder of Mana, who has recruited an all-star team of industry veterans from top gaming companies like Epic Games, Blizzard, EA, and Riot. Initially, it raised over $90 million through NFT sales, and the token's debut on exchanges including Bitget, OKX, and Coinbase has led to its subsequent listing on Binance contracts, with the token experiencing a 5x increase in the secondary market and a total trading volume of $250 million.

USDR (Token): A stablecoin asset issued by Tangible, all DAI assets in the contract were withdrawn yesterday, leading to USDR's sudden de-pegging. The project currently cannot guarantee sufficient collateral for USDR, posing high risks, and its development should be monitored.

DOT (Token): Recent developments in Polkadot governance have emerged, with community proposals to adjust the ideal staking rate to incentivize staking in anticipation of the upcoming unlocking of 100 million DOT. Meanwhile, the Polkadot development organization, the Web3 Foundation, announced a new plan to invest 20 million Swiss francs and 5 million DOT tokens in 2024 to promote community-driven growth.

The Bitget Research Institute focuses on "focusing on on-chain data and uncovering valuable assets," providing institutional-level insights for crypto enthusiasts by monitoring on-chain data and trending topics in real-time. To date, it has provided Bitget's global users with early valuable assets in various popular sectors such as the [Arbitrum ecosystem], [AI ecosystem], and [SHIB ecosystem], creating a better wealth effect for Bitget's global users through data-driven in-depth research.