In the past 24 hours, the market has seen a number of new popular coins and topics emerge, which could potentially be the next wealth-building opportunity. Among them are:
1. Strong wealth-building sectors: ETH ecosystem projects, Curve-related tokens.
2. User hot search tokens and topics: Banana Gun, CVX, Kiloex, Monad.
3. Potential airdrop opportunities: Kiloex, Zircuit.
Data collection time: June 17, 2024, 4:00 (UTC+0)
I. Market Environment
BTC spot ETF saw net outflows on 4 out of 5 working days last week, with the overall market experiencing a slight decline and altcoins performing poorly. However, the ETH/BTC exchange rate remained relatively strong over the past week, with expectations in the market for the launch of an “ETH spot ETF in July.”
ZKsync (ZK) will be launched on major exchanges for trading at 8:00 (UTC), which is 16:00 (UTC+8) today. LayerZero also announced over the weekend the airdrop distribution rules and preliminary witch list.
II. Wealth-Building Sectors
1. Sectors to focus on: ETH ecosystem projects
Key reasons:
Despite the general market decline, the ETH/BTC exchange rate has remained relatively strong over the past week.
Bloomberg ETF analysts tweeted that the launch date of the Ethereum spot ETF may be brought forward to July 2.
In the past week, while most altcoins were falling, well-known projects in the ETH ecosystem like ENS, UNI, and LDO showed a counter-trend rise.
Specific coin list: ETH, ENS, UNI, LDO, RPL, PENDLE.
2. Sector dynamics: Curve-related tokens (CRV, CVX)
Key reasons:
Multiple CRV lending positions of Curve’s founder were liquidated, causing a short-term drop in CRV price, followed by a rebound. With the statement “Curve founder declares full repayment of $10 million CRV liquidation bad debt on Curve lending platform,” CRV continued to rebound significantly. Convex Finance, as a profit optimizer for Curve, followed the rebound pace of CRV, with CVX surging over 90% in the past 24 hours.
Price movements:
CRV rebounded by 26% after a significant drop but still had a 25% decrease over the past month, while CVX price broke $4, rising by 90% in the last 24 hours.
Factors affecting future market:
Curve remains one of the best places for stablecoin bulk trading, maintaining good real profit. However, its biggest issue lies in its outdated narrative without exciting new products or operations to excite the market. Nevertheless, several whales previously bought CRV at prices higher than $0.3, which still makes CRV price attractive.
III. User Hot Searches
1. Popular Dapp
Banana Gun
Banana Gun Bot is a well-known Telegram trading bot that allows users to quickly engage in DeFi trading and participate in token presales on the Telegram platform. One key advantage of Banana Gun is its revenue-sharing model. Users holding Banana tokens can share the income generated by the bot, including 40% of the bot’s recommended income and 50% of the tax revenue generated by trading through the bot. Banana Gun recently announced an increase in users and trading volume, preparing to expand to the popular blockchain Berachain.
2. Twitter
KiloEx
KiloEx is a decentralized exchange focusing on providing user-friendly perpetual contract trading. The platform features fast trading, real-time market monitoring, a trading experience similar to centralized exchanges, a wide range of trading pairs, hedging tools, and decentralized copy trading. KiloEx recently received investment from Binance Labs, becoming part of the sixth season of the MBV program. KiloEx also launched an airdrop campaign where users can earn rewards by connecting wallets, inviting friends, and participating in trading activities.
3. Google Search by Region
Global overview:
CVX: Recent fluctuations in the DeFi project Curve founder Egorov’s lending positions led to significant price swings in CRV. Convex Finance, as a profit optimizer for Curve, followed the rebound of CRV.
Regional hot searches:
(1) In the Asian region, RWA Crypto stood out as the dollar strengthened and interest rate expectations declined, leading the crypto market to focus on stable income RWA projects.
(2) In Europe and America, attention was on recent popular tokens and projects, including Notcoin, Monad, TON, among others.
IV. Potential Airdrop Opportunities
Kiloex
A derivatives DEX supported by investments from Binance Labs, Foresight Ventures, 7upDAO, and others, currently supports opBNB, Manta, and BNB chains. Users can earn points by engaging in derivative trading, converting USDT into kUSDT for wealth management, or depositing STONE, among other methods.
Specific participation methods: 1) Trade in the derivatives market, where every $1000 traded earns 35 points. 2) Opt for opBNB or Manta chains for trading, as their fees are lower than on the BNB chain. 3) When earning points through wealth management, be aware of the premium on kUSD; a price drop in kUSD may result in a loss upon redemption.
Zircuit
Zircuit is a Layer 2 public chain project based on zkRollup integrated with parallel computing and AI, with investments from Pantera and Dragonfly. The project’s TVL has exceeded $1.1 billion. Zircuit’s ecosystem is gradually improving, including features like staking, cross-chain bridges, and browsers. Users can qualify for airdrops by participating in ecosystem development and community interaction.
Specific participation methods: 1) Participate in staking on the page (https://stake.zircuit.com/) to earn points. 2) Engage in node deployment to earn points (https://build.zircuit.com/build).
Original article link:
https://www.bitget.com/en-US/research/articles/12560603811325
【Disclaimer】The market carries risks, and investment should be approached with caution. This article does not constitute investment advice, and users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investing based on this information is at one’s own risk.