In the past 24 hours, the market has seen a number of new trending coins and topics, which could potentially be the next opportunities for wealth creation. Some of the hot sectors with strong wealth creation effects include blue-chip public chains and ETH ecosystem projects. The top user searches and topics are UXLINK, ZKSYNC, and IO.Net. Potential airdrop opportunities include Nile Exchange and Spark. Data was collected on June 12, 2024, at 4:00 (UTC+0).
Market Environment:
Yesterday, in the early morning hours, Bitcoin dipped to 66032 USDT, with a drop of over 5.5% in 24 hours, before rebounding to 67500 USDT in the early morning. There was a high daily volatility, with a total of 255 million USD in liquidations across the entire network in the past 24 hours. This included long liquidations of 236 million USD and short liquidations of 19.59 million USD, with long positions being the main cause of the liquidations. The stock market was volatile, and overall, the market is cautious as it awaits the FOMC meeting and CPI inflation data in the US tonight.
Bitcoin’s spot ETF continued to see net outflows yesterday, totaling 2 billion USD, ending a 19-day streak of net inflows. The Grayscale ETF GBTC saw a net outflow of 1.21 billion USD in a single day, bringing the total historical outflow from GBTC to 180.93 billion USD. Recent wealth effects have been seen in some new coins, such as the rise in NOT after launching on BN, including the newly launched IO yesterday. Investors should keep an eye on new coin listings and the market trends of some blue-chip public chain ecosystems.
Wealth Creation Sectors:
1) Sector Movement: Blue-chip public chains (FTM, TON)
Main reasons: The TON and FTM ecosystems are actively operating communities and releasing updates on new projects, which could lead to wealth creation within their ecosystems, creating potential buying pressure for these public chain assets.
Market performance: FTM saw a slight rebound to $0.65 yesterday, while TON hovered around $7 again.
Factors affecting future market trends:
Impressive data: TON’s network activity has been steadily increasing since February, with the daily active address count surpassing Ethereum. TON’s ecosystem TVL has exceeded 4.6 billion USD, reaching a historical high.
Continued ecosystem development: Yesterday, the Fantom Foundation released the second Sonic governance proposal, including airdropping S tokens to Opera and Sonic users. TON also announced the start of the TON OpenLeague Season 4, which will introduce enhanced pools on STON.fi and DeDust, offering over 1.8 million USD in rewards over the next two weeks. Users can earn rewards by maintaining on-chain activity and providing liquidity.
2) Key sectors to watch next: ETH ecosystem projects
Main reasons: The ETH spot ETF may announce results by the end of June/early July, providing speculative opportunities for ETH ecosystem assets. This sector has recently seen a significant pullback, creating entry opportunities.
Specific coin list:
UNI: The first DeFi Swap project on the blockchain, Uniswap generated $2.02 million in fees in the past 24 hours, providing substantial income.
LDO: A leading project in the ETH ecosystem, with a TVL of up to 34.4 billion USD and a valuation of less than 2 billion USD, making it relatively undervalued.
PENDLE: The project’s TVL has been consistently rising, reaching 6.6 billion USD, driven by the increasing demand for PENDLE in the bull market due to the rise in stablecoin market capitalization and high demand in the Restaking sector.
User Hot Searches:
1) Popular Dapp
UXLINK: UXLINK is a groundbreaking web3 social system designed for mass adoption, allowing users to build social assets and trade cryptocurrencies. It features a series of highly modular Dapps seamlessly integrated into Telegram, covering everything from beginners to graph formation, group tools, and social trading. UXLINK recently announced fundraising, with leading investments from SevenX Ventures, Ince Capital, and HashKey Capital, totaling $15 million. UXLINK, a Web3 social infrastructure project, issued the “IN UXLINK WE TRUST” series of NFTs as airdrop vouchers. Given the high fundraising amount, users may consider participating in its airdrop activities.
2) Twitter
ZKSYNC: ZKsync opened an airdrop query interface yesterday, with many users on Twitter expressing dissatisfaction as they met the criteria but did not receive the airdrop. ZKsync clarified that not meeting one or more airdrop criteria does not imply a legitimate right or demand for receiving the airdrop, as all decisions related to airdrop distributions are made by the ZKsync Association. ZKsync (ZK) is currently trading at around $0.35, with a drop of over 40% in 24 hours.
3) Google Search by Region
On a global scale:
IO.Net: This project is a decentralized computing network supporting the development, execution, and scaling of ML applications on the Solana blockchain. It combines 1 million GPUs to form the world’s largest GPU cluster and DePIN.io.net aggregates resources from underutilized sources. Additionally, Bitget will launch PoolX today, allowing users to stake IO for native coin rewards, with a total prize pool of IO worth $100,000. Mining will take place from June 12 at 16:00 to June 22 at 16:00 (UTC+8).
Region-specific hot searches:
(1) In English-speaking regions, there is a significant divergence in hot searches, with the US focusing mainly on meme tokens such as pepe, floki, and boden. Australia and the UK are more interested in public chain projects, with a higher frequency of searches for chains like monad, icp, and sui.
(2) In Europe, attention is on fundamental projects, focusing on public chains and some mainstream altcoins, with hot searches for projects like Solana, Ethereum, Uniswap, and rndr.
(3) In the CIS region, there is interest in TON ecosystem and DePIN opportunities, with high occurrences of hot searches for Notcoin and Grass.
Potential Airdrop Opportunities:
Nile Exchange:
Nile is a centralized liquidity DEX on Linea, combining incentive measures with centralized liquidity for higher capital efficiency. As a sister branch of RAMSES on Arbitrum, NILE inherits the proprietary centralized liquidity ve(3,3) implementation mechanism. Nile Exchange is one of the Eligible Protocols in Linea’s The Surge event, providing liquidity to the Nile protocol can earn Linea points LXP-L.
How to participate: On the Linea mainnet, deposit LP positions of weETH/ETH, wrsETH/ETH, ezETH/ETH, USDC/USDT to earn a higher APY and multiple points.
Spark:
Spark Protocol is a lending market launched by MakerDAO, integrating direct lending functionality within MakerDAO. Through Spark, users can obtain DAI loans using assets such as ETH, stETH, sDAI, etc.
Spark announced the upcoming launch of the SPK token pre-mining for the second season, to be distributed to eligible SparkLend users on Ethereum. The second season pre-mining started on May 20 in UTC time and will end with the launch of SPK and Spark SubDAO.
How to participate: Refer to the project’s announcement for specific conditions, including the amount of ETH deposited by the user, the amount of DAI borrowed, and the period of ETH deposits or DAI borrow positions.
Disclaimer: The market carries risks, so investments should be made cautiously. This article does not constitute investment advice, and users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their specific circumstances. Investing based on this information is done at one’s own risk.