Bitget Research Institute: Altcoins continue to fall, BGB remains strong

Summary

The U.S. PPI annual rate in March was 2.1%, the highest since April 2023.cryptocurrencyThe overall market is under pressure, and altcoins continue to fall. In contrast, BGB's price performance is very impressive. Among them:

• The sectors with strong wealth creation effects are: Base Ecosystem, Ton Ecosystem and RWA Sector

• User Hot SearchToken& Topics: Avalon Finance, BounceBit,AI Crypto;

• Potential airdrop opportunities include: Zircuit, Nubit;

Data statistics time: 4:00, April 12, 2024 (UTC+0)

1. Market environment

The annual rate of PPI in the United States in March was 2.1%, the highest since April 2023. The data showed that inflation remained highly sticky. After the data was released, the US dollar index DXY fell by more than 20 points in the short term, the US Treasury yield fell, and the US short-term interest rate futures rose.cryptocurrencyThe overall market is under pressure, and altcoins continue to fall.

In contrast, the price performance of Bitget's platform currency BGB is very impressive. In addition to the continuous improvement of Bitget's spot business, it is also affected by the high-frequency LaunchPool and the newly launched PoolX product forms. With the assets launched by these two products, users can use BGB and USDT for trading.Staking Mining, thus you can not only get the benefits of mining new assets, but also enjoy the benefits of the increase in the price of BGB. In addition, because PoolX and LaunchPool activities have been very frequent recently, the market demand for BGB has continued to increase, so the price of "Golden Shovel" BGB continues to rise. If the current high-frequency mining of 2-3 assets per week is maintained, the price of BGB will continue to rise.

2. Wealth-making sector

1) Sector changes: Base Ecosystem (AERO)

Main reason: The TVL of Base ecosystem exceeds 1.5 billion US dollars, and the continuous inflow of funds may directly affect the overall trend of meme coins on the Base chain. The continuous rise in AERO coin price, the development of the SocialFi track, and the issuance of Farcaster and the progress of ecological projects have all brought good attention to the Base ecosystem.

Rising situation: AERO rose by 18% in the past 24 hours;

Factors affecting the market outlook:

The continuous inflow of funds into the Base ecosystem may directly affect the overall trend of meme coins on the Base chain. Traders can pay close attention to changes in data such as the ecosystem TVL and DEX trading volume. With the continued improvement of fundamentals, the mentioned assets are expected to break new highs. At the same time, historically, the ceiling of meme coins on the Base chain is limited, so be careful of the risk of chasing high prices.

2) Sector changes: TON ecosystem (INS, TREMP)

Main reason: TON Token本身的财富效应在目前市场回调的大环境下尤为突出，昨日 Ton 价格突破 7 美元，再创历史新高。同时昨日 TON 基金会已向在 Dedust 和 / 或 Ston.fi 上最活跃的 Meme 币交易者空投 30 万枚 TON（约 219 万美元），空投Token的奖励刺激进一步加深了用户在 Ton 链上的交易热情。

Rising situation: INS rose by 10.5% in the past 24 hours, and TREMP rose by 149% in the past 24 hours;

Factors affecting the market outlook:

Wealth effect of Launchpad: The two tokens INS and TREMP in the sector come from two different Launchpad projects in the Ton ecosystem, and have a wealth effect of 10-100 times respectively. If this wealth effect can be replicated in later projects, the hype of the Ton public chain will be further enhanced.

Notcoin's performance on the coin: As the most popular project on the Ton chain, countless eyes are on Notcoin. Currently, the number of players exceeds 27 million, and X (Twitter) follows 1.68 million. The transaction volume on getgems exceeds 3.1 million Tons, equivalent to 21 million US dollars. Notcoin is about to issue a coin. If the market acceptance after the issuance is high and the coin price performs well, the ceiling of the Ton ecosystem will be further opened.

3) Sectors that need to be focused on in the future: RWA sector (PARCL, MANTRA DAO)

Main reason: BlackRock announced its firstBlockchainThe entry of giants into the tokenized funds issued on the market has brought a second spring to the RWA track. RWA may still be one of the most important narratives in this round of bull market. At present, RWA is developing rapidly, with frequent financing events and project progress. In addition, the PARCL token issuance is imminent, and the potential wealth effect may further trigger the second wave of RWA market.

Key projects:

• Parcl: The Parcl ecosystem, based on the decentralized real estate trading platform Parcl Protocol, announced a strategic partnership with SkyBridge Capital, a global alternative investment firm.

• Mantra DAO：MANTRA announced the launch of the Hongbai incentive testnet, which is also the second phase of the MANTRA Chain testnet. This testnet is expected to expand the user base of the ecosystem and encourage the development of decentralized applications (dApps) on the MANTRA Chain. This is the first milestone since Mantra's transformation to the RWA public chain.

3. User Hot Searches

1) Popular Dapps

Avalon Finance:

Avalon Finance, the first lending protocol of Merlin Chain, surpassed $100 million in TVL and had more than 7,000 users one week after its launch, becoming the largest lending protocol in Merlin Chain and the entire BTC ecosystem. It also set a record for the fastest growing DeFi lending protocol in TVL in DeFi history. Avalon Finance completed a $1.5 million seed round of financing in March, with participation from SNZ Capital, Summer Capital, Matrixport Ventures, and others. Currently, Avalon Finance has launchedCommunityAirdrop plan, the airdrop ratio is as high as 20%, users can participate in early airdrops.

2) Twitter

BounceBit:

BounceBit is a Bitcoin re-staking and CeDeFi protocol. In terms of project background, BounceBit received $6 million in seed round financing led by Blockchain Capital and others, and also receivedBinanceCustody (CEFFU), Breyer Capital and Mainnet Digital support, making it possible for users to stake their assetsSafetyThe latest news yesterday was that Binance Labs announced an investment in BounceBit, aiming to expand Bitcoin's capabilities beyond traditional value storage. Currently, BounceBit's TVL has reached $784 million, and users can actively participate in network verification and various revenue-generating activities.

3) Google Search & Region

From a global perspective:

Masa Network (MASA): Masa Network is a two-way data market connecting data suppliers (users) and data consumers (developers), that is, a decentralized data market developer. Yesterday, it announced that it will launch the mainnet and launch MASA tokens at 20:00 Beijing time on April 11, of which MASA tokens will be issued on Ethereum, BNB Chain and Masa network (dedicated Avalanche subnet) at the same time. Previously, Masa Network completed a $5.4 million seed round led by Anagram in January this year. On April 11, Bitget will launch Masa Network (MASA), and the recharge channel is now open. The MASA/USDT trading pair will be open at 16:00 today, and investors can consider buying at their discretion.

From the hot searches in each region:

(1) Europe and CIS AI Crypto shows some attention:

The main reason is that Binance’s announcement that it will launch Bittensor (TAO) at 20:00 (ET) on April 11, 2024 has attracted a lot of attention on Twitter and other platforms.Community的关注和讨论热度，先前随着人工智能（AI）在加密领域的热潮不断升温，Bittensor 网络注册子网的成本飙升至 670 万美元，AI 相关话题的Community讨论热度一直保持高位。

(2) There are no significant hotspots in Africa, Asia and the English-speaking regions:

The regional popularity in this region showed a relatively scattered performance, among which Floki, Crypto Bubbles, and RWA frequently appeared on the hot searches. Before the arrival of the Bitcoin halving, more retail investors would pay attention to the narratives of Memecoin and RWA. The overall market showed differentiation in themes. When the market was relatively stable, the rotation speculation of the sector themes began.

Potential Airdrop Opportunities

Zircuit

Zircuit is a parallel and AI-integrated Layer2 public chain project based on zkRollup. It is invested by Pantera and Dragonfly. The current TVL of the project has exceeded 1.1 billion US dollars. Zircuit's current ecosystem is gradually improving, and it already includes functions such as staking, cross-chain bridges, and browsers. Users can also obtain airdrop qualifications by participating in ecosystem construction and community interaction.

The currently launched Zircuit Staking is a good place to kill two birds with one stone. As long as you have participated in the Eigenlaye series of ecological projects before, you can maximize your returns with extremely low risks. The Zircuit staking plan aims to reward participating users and communities and help guide Zircuit's native day-to-day liquidity. In addition, there are three other methods, and only the staking method is introduced here.

Specific ways to participate: 1) Enter the staking page (https://stake.zircuit.com/) to participate in staking to win points; 2) Participate in node deployment to win points (https://build.zircuit.com/build).

Nubit

Nubit is a scalable Bitcoin native DA layer.SafetyNubit can effectively expand the data capacity of Bitcoin, providing a platform for Ordinals,L2, oracles, thereby expanding the scope and efficiency of the Bitcoin ecosystem.

Nubit has completed a $3 million Pre-Seed round of financing, with participation from dao5, OKX Ventures, Primitive Ventures, etc. The team said it is preparing for the launch of the mainnet. The current rules are:walletThe more inscriptions you have, the higher your score will be, and the faster you will advance. You can start the test network mission with 2000 points.

How to participate: Connect brc20 and unisat walletEntry:Xiaobai Navigation www.points.nubit.org/#/?invite=CLgqe，之后关注推特，链接wallet，邀请之后就可以看到自己的积分。

The article comes from the Internet:Bitget Research Institute: Altcoins continue to fall, BGB remains strong

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