In the past 24 hours, the market has seen several new popular coins and topics that could be the next wealth-building opportunity. Here are the details:
1. Strong Wealth-building Sectors: MEME sector and ETH ecosystem blue-chip projects.
2. User Hot Searches: pump.fun, MOG, Jenner, FLOKI, TURBO.
3. Potential Airdrop Opportunities: Linea Surge, Sanctum (Community Quests).
4. Data Statistics Time: May 28, 2024, 4:00 (UTC+0).
I. Market Environment
Yesterday, Mt. Gox transferred over 107,000 BTC, worth approximately $7.2 billion, from its cold wallet, sparking speculation about Mt. Gox’s future actions. Traders and market makers, concerned about the situation, started reducing their BTC positions, causing BTC to retrace after reaching $70,500. It is advised for users to lower their account leverage and BTC positions and wait for further information regarding Mt. Gox’s transfer intentions before making trading decisions.
On a macro level, BTC ETFs have been attracting significant inflows of traditional funds, with $2 billion flowing in over the past two weeks. As the US midterm elections heat up, Trump’s recent endorsement of the cryptocurrency industry has garnered attention from the market. It is highly likely that both parties will try to gain the support of cryptocurrency holders during the election campaign, resulting in more positive news about the cryptocurrency industry.
II. Wealth-building Sectors
1) Sector Dynamics: MEME sector (WOJAK, FLOKI, WIF)
Main Reasons:
WOJAK generated community sentiment of “it’s time to pump,” attracting significant market attention with large funds entering the market.
FLOKI announced the completion of beta testing for its trading robot, and the fees collected from future transactions will be used for FLOKI buybacks.
Price Increases: WOJAK up 30%, FLOKI up 15%, WIF up 9%.
Factors Affecting Future Trends:
Community Information: The operation of Meme coins has a significant impact on their price movements. It is important to pay attention to AMA sessions and Twitter updates regarding the trading targets. If there are any new announcements, it presents an opportunity to enter the market early.
Unrealized Contract Volume Changes: The unrealized contract volume for WIF and FLOKI increased yesterday, indicating an influx of hot money. Monitoring contract data on websites like tv.coinglass can provide insights into the movements of major funds. Look for an increase in net long positions and rising open interest (OI) and trading volume. If these conditions are met, it indicates that major players continue to buy, and it may be beneficial to hold positions.
2) Key Sectors to Watch: ETH Ecosystem Blue-chip Projects
Main Reasons: The ETH ecosystem is currently undervalued, and the ETH-BTC exchange rate has shown sustained rebounds. With the approval of important ETF-related documents and SEC actions against DeFi projects, the ETH ecosystem, especially projects with strong fundamentals, has room for growth.
Specific Coin List:
UNI: The first DeFi Swap project on the blockchain received a Wells notice from the SEC last month. Uniswap is expected to provide self-certification soon, creating trading opportunities.
LDO: The leading LSD project in the ETH ecosystem with a TVL of $34.5 billion and a valuation of less than $2.5 billion, making it relatively undervalued.
OP: Base Chain, utilizing OP stack technology, signed a profit-sharing agreement with the OP Foundation last year and indirectly received endorsement from Coinbase.
PENDLE: The TVL of the project has been continuously increasing and has reached $5.7 billion. The demand for PENDLE’s business in the bull market has been growing due to the increase in stablecoin market capitalization and the popularity of restaking.
III. User Hot Searches
1) Popular Dapp
pump.fun:
The pump.fun platform, which allows for the easy issuance of Meme coins on Solana, recently set a new record of $753,000 in daily revenue on May 7, becoming the highest-earning application on the Solana network. Over the past two days, the platform has seen increased activity with the issuance of tokens related to American media personality Caitlyn Jenner and rapper Rich The Kid, further boosting its popularity.
2) Twitter
MOG:
The ETH-based meme coin MOG has experienced a 70% surge in the past week, with a significant increase in trading volume across the network. Following the approval of important ETF-related documents for ETH, meme coins in the ETH ecosystem, including MOG, TURBO, and WOJAK, have collectively experienced a surge in price.
3) Google Search by Region
From a global perspective:
Jenner:
American media personality Caitlyn Jenner promoted the Meme Coin – “JENNER” on her Twitter account, which led to speculation that her account was hacked. However, Jenner’s subsequent deletion of tweets and changes in statements sparked new speculation and caused significant fluctuations in the coin’s price. Following this, rapper Rich The Kid also started issuing tokens on Pump, which resulted in rapid price fluctuations.
FLOKI:
The Floki development team announced the launch of a trading robot tool that allows FLOKI holders to trade on the BNB Chain network. This Telegram-based robot will initially be available to a small number of users during the beta testing phase and is expected to be open to the public in mid-June. The robot charges a 1% fee for each transaction, with 50% of the fees used to buy FLOKI on the open market, thereby increasing demand.
TURBO:
Turbo is a MEME coin created using the ChatGPT Turbo model, combining the two trending sectors of AI and memes. Recent positive news and upcoming events in the AI field have brought more speculative possibilities for Turbo, such as the Apple Worldwide Developers Conference and the potential release of GPT 5 in June. Turbo has experienced an astonishing price increase, rising fivefold in the past week.
From regional hot searches:
(1) In Europe, the US, and the Middle East, meme coins related to polifi concepts such as MAGA and TRUMP have made it to the top of the charts in multiple countries.
(2) In Asia, there were no notable trends or features in yesterday’s hot search keywords.
IV. Potential Airdrop Opportunities
Linea Surge:
Following Linea Park, Linea Voyage: The Surge campaign has officially begun. It is important to note that users need to activate their Linea accounts using a referral code (https://referrals.linea.build/?refCode=zC0GCkXn5K) to start receiving LXP-L points.
The goal of Linea Surge is to attract users and increase TVL. The campaign will last for six months or until TVL reaches $3 billion. Previously, the community believed it would take six months for Linea to reach $3 billion TVL. However, Linea’s TVL has already reached $1.1 billion, and with the launch of projects like zkSync and LayerZero, funds may flow into Linea, reaching the $3 billion TVL target earlier than expected.
Specific Participation Methods: (1) Activate a Linea account as mentioned above. (2) Deposit supported assets like ETH and DAI into the Linea network. (3) Deposit assets into DEXs and lending protocols such as SyncSwap, Mendi Finance, and SushiSwap to earn LXP-L points (Linea has more than 20 supported protocols, which can be found here: https://www.openblocklabs.com/app/linea/dashboard).
Sanctum (Community Quests):
As mentioned in previous reports, the Solana ecosystem’s LST protocol, Sanctum, has officially launched its loyalty program, Sanctum Wonderland. Previously, Sanctum completed seed and expansion funding rounds, with Dragonfly leading the investment and participation from Solana Ventures and Jump Capital, bringing the total funding to $6.1 million.
The basic participation methods were explained in the May 24 report and will not be repeated here. During the Wonderland campaign, multiple Community Quests will be available on the project’s website, and answering the questions will earn participants additional points. Here are the answers to some of the quests:
Season 2 Answer: EVENSTAR CATHEDRAL
Season 3 Answer: GLOAMTIDE
Season 4 Answer: THE EARNEST SHALL BUILD OUR NEW WORLD
Season 5 Answer: A SYZYGY OVER THE HEART OF VOH
Original Article Link: https://www.bitget.com/zh-CN/research/articles/12560603810344
[Disclaimer] The market carries risks, and investment should be cautious. 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. Users are responsible for their own investment decisions.
