Written by: Bitget Research Institute
Summary
VanEck applied to issue shares of the Solana (SOL) exchange-traded fund (ETF). Influenced by the good news, the 24-hour increase of SOL tokens reached nearly 8%. The market gradually formed a consensus on the Ethereum ETF, believing that the scale of capital inflow of the ETH ETF is not as large as that of Bitcoin. Among them:
The sectors with relatively strong wealth-creating effects are: Ethereum ecosystem (MKR, ENS), TON ecosystem (TON, NOT);
The most popular tokens and topics among users are: Zeta Markets, Kaspa, FET;
Potential airdrop opportunities include: Sofamon, Particle;
Data statistics time: 4:00, June 28, 2024 (UTC+0)
1. Market environment
Asset management company VanEck applied to issue shares of the Solana (SOL) exchange-traded fund (ETF), the first such registration in the United States. Influenced by the good news, the 24-hour increase of SOL tokens reached nearly 8%, breaking through $150. The prices of Bitcoin and Ethereum did not change much, basically the same as yesterday, at around $62,000 and $3,440.
Regarding Ethereum ETF, according to official news, 21Shares submitted a new 8-A12B document for its spot Ethereum ETF. Charles Yu, vice president of Galaxy Research, said in a report on Wednesday that in the first five months of trading, the scale of ETH ETF fund inflows is conservatively estimated to be 20% of the Bitcoin ETF fund inflows. Although the market has expectations for the Ethereum ETF, a consensus has gradually formed that the scale of ETH ETF fund inflows is not as large as that of Bitcoin.
2. Wealth-making sector
1) Sector changes: Solana meme tokens (NUB, MANEKI, WEN)
main reason:
Asset management company VanEck applied to issue shares of the Solana (SOL) exchange-traded fund (ETF). The Solana ecosystem meme was affected by the good news and generally began to rebound;
The overall asset pullback of the AI sector is relatively severe. At the same time, as the project with the fastest capital chain transmission, there is a trend of rebound in technical indicators.
Increase: NUB, MANEKI, WEN increased by 15%+ within 24 hours;
Factors affecting the market outlook:
Trading activity in the future market: Currently in the bottoming-out stage, we need to pay close attention to whether the trading volume of this sector continues to increase. If the trading volume remains high and the price of the currency continues to rise, it means that the trading enthusiasm can be maintained and can be held continuously.
Dynamics of main funds: The old meme financial tools are relatively complete. Through contract data, funding rates and positions, we can understand whether the main funds continue to flow in. Generally speaking, a sudden and sharp increase in the number of open contracts is the core standard for indicating the main funds. We can continue to pay attention to the dynamics of contract indicators;
2) The sectors that need to be focused on in the future: ETH ecological projects
The main reasons are: Coinbase asked the SEC to provide documents about the closed investigation. The SEC publicly announced in 2018 that ETH is not a security. 21Shares submitted a new 8-A12B document for its spot Ethereum ETF, and the ETH ETF has been steadily advancing.
Specific currency list:
UNI: The first DeFi Swap project on blockchain applications. Uniswap generated more than $2 million in fees in the past 24 hours, with considerable revenue.
LDO: The leading LSD project in the ETH ecosystem, with a TVL of 32.5 billion US dollars and a valuation of less than 2.5 billion US dollars, is relatively undervalued;
PENDLE: The TVL of the project has continued to rise. Currently, the TVL has reached 6.2 billion US dollars. The total market value of stablecoins has increased, and the popularity of the Restaking track has increased the demand for PENDLE's business in the bull market.
3. User Hot Searches
1) Popular Dapps
Zeta Markets
Yesterday, Solana DeFi derivatives platform Zeta Markets governance token airdrop applications were opened. It is reported that the airdrop claim window will last for 90 days. Previously, Zeta Markets completed a strategic financing of US$5 million, led by Electric Capital, with participation from Digital Asset Capital Management (DACM), Selini Capital and Airtree Ventures. Angel investors include Anatoly Yakovenko of Solana, Mert Mumtaz of Helius, Richard Wu of Tensor, and Genia Mikhalchenko of Pyth.
2）Twitter
When:
Yesterday, Kaspa (KAS) broke through $0.18 and is now quoted at $0.1802, with a 24-hour increase of 11.7%. Previously, crypto mining company Marathon Digital (MARA) announced that it had launched Kaspa mining operations. Kaspa is an open source, decentralized and fully scalable Layer-1 protocol that uses proof of work as its consensus mechanism. Unlike Bitcoin, Kaspa uses BlockDAG (directed acyclic graph) and can generate multiple blocks at the same time. As of June 25, 2024, Marathon has mined 93 million KAS, currently worth about $15 million.
3) Google Search & Region
From a global perspective:
FACT:
According to official news, the Artificial Superintelligence Alliance announced major progress and updates on the merger of ASI tokens. The first phase is scheduled to be implemented on July 1, 2024. The migration platform from AGIX and OCEAN to FET will be opened on the SingularityDAO dApp, allowing holders to convert their tokens to FET. The conversion rate is 1 AGIX for 0.433350 FET and 1 OCEAN for 0.433226 FET. The second phase is the cross-chain deployment of ASI tokens. The FET network is upgraded to the ASI network. The migration contract from FET, AGIX, OCEAN to ASI is open, EVM and other bridges are open, and trading platforms begin to migrate from FET to ASI's spot market. Fetch.ai token FET rose 23% in 24 hours. At the same time, Coinbase: It will not perform OCEAN and FET token migration on behalf of users, and users need to complete it themselves.
From the hot searches in each region:
(1) Asian countries: There is no obvious preference for searches in Asian countries, and AI projects appear relatively more frequently. The main reason is that in the past 24 hours, AI track projects such as FET, AGIX, and OCEAN have performed well.
(2) European and American countries: In addition to paying attention to Solana Blinks, the KAS token has performed well and has also attracted attention from some regions. Apart from this, there is no special unified focus in Europe, Latin America and the Americas.
Potential Airdrop Opportunities
Sofamon
Sofamon is a project based on the Base network. It is currently working on a personal chat sticker market on Telegram. Users can manage their own sticker collections, invite friends, access Sofamon's private group chats, and more.
Web3 social project Sofamon has completed its seed round of financing, with participation from Polychain Capital, Seed Club Ventures, Inception Capital, etc. Angel investors include Celestia COO Nick White, former Coinbase engineer 0xBeans, Divergence Ventures co-founder George Lambeth, etc.
How to participate: The official has not yet announced specific airdrop information, but based on Sofamon’s current popularity on social media and in the crypto community, there is a high probability that there will be airdrop opportunities. Investors can purchase a series of NFT stickers launched by Sofamon.
Particle
Particle is a decentralized leveraged trading protocol that does not require permission and is suitable for any digital asset from tokens to NFTs. There is no price oracle, no counterparty risk, and no forced liquidation. The project is a hot project in the Blast ecosystem, and there are airdrop opportunities for early participation.
Particle completed its seed round of financing, with investors including Polychain*, Nascent, Inflection, Neon DAO, Arthur Hayes and other well-known institutions and individuals.
How to participate: Users can log in to https://www.duo.exchange/, link their wallets, and pledge the core assets in the Blast ecosystem (ETH, WETH, USDB, USDe, etc.) to participate.
