In the past 24 hours, the market has seen a number of new hot coins and topics emerge, which could potentially be the next wealth-building opportunity. The European Central Bank has cut interest rates by 25 basis points, possibly signaling the beginning of a global central bank rate-cutting cycle. BTC spot ETF has seen net inflows for 18 consecutive days, while the altcoin market has been relatively flat. The Solana ecosystem continues to see high trading activity in meme coins, with io.net (IO) set to open for trading on June 11th.
The sectors showing strong wealth-building effects include GameStop concept memes. Sectors worth focusing on in the future include the TON ecosystem. Some of the top trending tokens and topics among users are Glacier Network, Ultiverse, and io.net. Potential airdrop opportunities include UXLINK and Movement. Data was collected on June 7, 2024, at 4:00 (UTC+0).
1. Market Environment
The European Central Bank has cut interest rates for the first time since 2019, by 25 basis points, potentially starting a global central bank rate-cutting cycle. The BTC spot ETF saw net inflows of $218 million yesterday, marking 18 consecutive days of net inflows. BlackRock’s IBIT holdings have exceeded 300,000 BTC. After a slight shakeup, BTC broke through $71,000 today, once again challenging new highs. While altcoins have performed modestly, meme coins on the Solana network have shown strong trading activity. Keith Gill (Roaring Kitty) announced a YouTube livestream on June 8th, revealing his GME stock and options positions worth $586 million, leading to a surge in GME and KITTY tokens on the Solana network. Additionally, the AI+DePIN project io.net (IO), with funding of $40 million, announced its token economy and is set to open for trading on June 11th.
2. Wealth-Building Sectors
1) Sector Movement: GameStop concept memes
Main reasons:
Retail trading king Roaring Kitty scheduled a livestream on YouTube on June 8th, causing a sharp rise in GME stock and the corresponding meme token. A screenshot on Reddit showed that prominent investor Roaring Kitty disclosed his GME stock and options positions valued at approximately $586 million.
Price movements:
GME tokens on Solana rose by +120% in the past 24 hours, KITTY (Roaring Kitty) rose by +240% in the same period, and the GameStop (GME) token on the ETH network surged by +160% in the past 24 hours.
Future impacting factors:
The success of Roaring Kitty’s livestream, as well as its content and effects, will greatly influence market sentiment. After each previous surge in GameStop concept memes, there have been significant corrections, so investors need to be cautious and avoid blindly chasing highs.
2) Sectors worth focusing on in the future: TON ecosystem
Main reasons:
The popularity of Notcoin has boosted activity in the entire TON ecosystem, leading to the emergence of many similar projects and improved GameFi projects. The TON ecosystem already has several high-traffic projects yet to be launched, such as the TON ecosystem game Hamster Kombat, which claims to have surpassed 100 million users, and the Catizen user base has exceeded 15 million. This has created high expectations for the future mass adoption of TON ecosystem projects, which are expected to bring more users and funds to TON.
Specific token list: TON, NOT, STON, GRAM, FISH
3. User Hot Searches
1) Popular Dapp
Glacier Network:
Glacier Network is building a programmable, modular, and scalable blockchain infrastructure for storing, indexing, and querying data to greatly enhance AI. Glacier achieves verifiable computing through GlacierAI, GlacierDB, and GlacierDA. Glacier Network, valued at $100 million, completed an $8 million angel and seed round with participation from Foresight X and others.
2) Twitter
Ultiverse:
Ultiverse is an AI-driven Web3 platform for game creation and publishing, facilitating the widespread adoption of AI-enhanced Web3 games. Based on the Bodhi protocol, Ultiverse connects different game worlds through generative AI. Ultiverse has completed three rounds of funding, with investments from Binance Labs and others totaling over $10 million. Yesterday, Binance Web3 announced that the 15 million ULTI rewards for the Binance Web3 Wallet activity with Ultiverse have been fully distributed to eligible participants, who can check their wallets.
3) Google Search Trends
On a global scale:
IO.Net: Binance Launchpool announced the launch of io.net (IO) yesterday, allowing users to mine IO by staking BNB and FDUSD. Mining began at 8:00 on June 7th, Beijing time, generating significant attention on Twitter and in the community. The project is a decentralized computing network that supports the development, execution, and expansion of ML applications on the Solana blockchain, combining 1 million GPUs to form the world’s largest GPU cluster and DePIN.io.net aggregates resources from underutilized sources.
From regional searches:
(1) In English-speaking regions, there is a focus on Bitstamp, as Robinhood announced a $2 billion acquisition of the cryptocurrency exchange to expand outside the US. The acquisition is expected to be completed in the first half of 2025, attracting significant attention.
(2) In Europe and America, there is interest in fundamental projects, mainly focusing on RWA, DePIN, and POW public chains. Hot search projects include Etherfi, Floki, and Boden, among others.
(3) In the CIS region, attention is on the TON ecosystem and AI projects, with NOT Coin, ARKM, and other race assets appearing in yesterday’s Google hot searches.
4. Potential Airdrop Opportunities
UXLINK:
UXLINK is a groundbreaking web3 social system designed for mass adoption, allowing users to build social assets and trade cryptocurrencies. It includes a range of highly modular Dapps that seamlessly integrate into Telegram, from beginner to graphical form, group tools to social trading.
UXLINK recently announced funding led by SevenX Ventures, Ince Capital, and HashKey Capital, totaling $15 million. Specific participation methods include the issuance of “IN UXLINK WE TRUST” series NFTs as airdrop vouchers. Based on users’ community contributions, on-chain interactions, and asset conditions, there are four levels – “MOON,” “TRUST,” “FRENS,” and “LINK” – each corresponding to different benefits and quantities of UXLINK tokens airdropped.
Movement:
The blockchain development team Movement Labs, established in 2022, completed a $3.4 million seed round of funding in September 2023. In addition to their flagship product Movement L2, Movement Labs will launch Move Stack, an execution layer framework compatible with rollup frameworks such as Optimism, Polygon, and Arbitrum.
Movement Labs recently completed a $38 million Series A funding round led by Polychain Capital, with participation from Hack VC, Foresight Ventures, Placeholder, and other well-known institutions. Specific participation methods include accessing the Movement zealy task interface (note: social tasks have time periods and continuously updated tasks), where users can interact with DEX, perform a few test interactions, and await further actions on the official website.
For more information from Bitget Research Institute, visit: https://www.bitget.fit/en-US/research
The Bitget Research Institute focuses on “focusing on on-chain data, discovering valuable assets,” by monitoring on-chain data and regional hot searches in real-time to uncover cutting-edge value investments, providing institutional-level insights for crypto enthusiasts worldwide. To date, the Bitget Research Institute has provided early-stage value assets in several popular sectors such as the Arbitrum ecosystem, AI ecosystem, and SHIB ecosystem, creating a more effective wealth effect for Bitget global users.
[Disclaimer] The market involves risks, so 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. Investment decisions are made at one’s own risk.