Bitget Research Institute: After halving, the cost price of miners reaches 60,000 US dollars. If it falls below, there may be a rebound opportunity
In the past 24 hours, many new hot currencies and topics have appeared in the market, and it is very likely that they will be the next opportunity to make money.
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Strong wealth-creating effectXiaobai NavigationThe sectors are: Ethena (ENA), cross-chain track (W);
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User Hot SearchToken& Topics: Debank, Lyra, Revolut;
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Potential airdrop opportunities include: MEZO, DFLOW;
Data statistics time: 4:00 on May 8, 2024 (UTC+0)
1. Market environment
Yesterday, BTC briefly fell below $63,000 and is now quoted at around $62,500. Market hotspots are scattered and the wealth effect is not significant. The shutdown price of mainstream Bitcoin mining machines is around $60,000. BTC is likely to encounter strong support at $60,000. The daily ETH destruction of the Ethereum network has dropped to the lowest level this year. The number of ETH destroyed the day before yesterday was only 610 ETH. The decline in ETH destruction is mainly due to the recent decline in average Gas fees. Generally, low Gas means that ETH is relatively undervalued and has room for growth in the future.
In the crypto market, last week, the BTC spot ETF officially opened for trading in Hong Kong. So far, the transaction volume of the first six virtual asset spot ETFs issued in Hong Kong has reached more than 60 million Hong Kong dollars, and the inflow of funds from Asia Pacific is quite obvious. The US SEC issued a "Wells Notice" to Robinhood, involving RHCcryptocurrencyListing,cryptocurrencyCustody and platform operations (RHC activities), the US supervision has become stricter. Yesterday, after two consecutive days of net inflows, the US spot Bitcoin ETF experienced a net outflow of funds, reaching US$19 million. At present, the overall market is still cautious.
2. Wealth-making sector
1) Sector changes: Ethena (ENA)
The main reason: During the period of low density of overall copycat trend, Ethena's protocol fee reached 8.3 million US dollars in the past week, ranking first in the stablecoin protocol, far exceeding the second-ranked MakerDAOThe circulating market value of USDe has rapidly reached the level of 2 billion US dollars, which has attracted a certain amount ofCommunityAttention.
Rising situation: ENA continued to rise from the opening price of about US$0.6 after TGE a few days ago. Currently, it has rebounded significantly as the market has fallen, hovering around US$0.95.
Factors affecting the market outlook:
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USDe circulation growth: Currently, USDe’s market value is 2 billion US dollars, and it has reached the fourth place in the stable currency market value. If USDe’s circulation market value can approach or even exceed the third place DAI, then the imagination space of ENA's currency price will be opened up to a great extent.
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Ethena activity yield expectations and the strength of external cooperation projects: Bybit supports USDe TokenAs collateral for derivative transactions, Ethena’s ENA TokenRecently, it has risen by nearly 8%. Ethena's USDe tokenized income strategy has attracted more than $2 billion in deposits, and has conducted some reviews on the risks of tokens. At the same time, the second season of the Ethena campaign has been launched. Ethena has cooperated with a large number of well-known project parties such as Zircuit to add more benefits to the pledge of USDe.
2) Sector changes: cross-chain track (W)
Main reason: As a leading interoperability platform, Wormhole supports large-scale multi-chain applications and bridges. Last week (April 29th – May 5th), many updates took place in the Wormhole ecosystem, and the positive news led to a continuous increase in prices.CommunityHigh level of attention.
Rising situation: W rose by 2.5% in the past hour and 5.2% in the past 7 days;
Factors affecting the market outlook:
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The subsequent roadmap of W indicates that W has become a native multi-chain token and has completed the second phase of the W release roadmap. This release will bring the first multi-chain governance system MultiGov and W staking governance, which is expected to absorb tokens on the market. If the W staking growth effect is good, the selling pressure in the market will further decrease.
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Good news continues to come: JitoSOL, the first liquid staking derivative on Solana, has officially expanded to Arbitrum through Wormhole NTT and has become a native ERC20 token on Arbitrum. Wormhole announced that its ecosystem plan includes three components: Wormhole Accelerator, Cross-Chain Ecosystem Fund, and xGrant Program. Among them, Borderless Capital launched a $50 million cross-chain ecosystem fund to develop the next generation of Web3 applications. It also sponsored an Algorand-like hackathon (Algorand Hackathon 2024), where developers participated in the interoperability track and built a platform that helpsBlockchainApplications for communication and collaboration.
3) Sectors that need to be focused on in the future:AI Plate
main reason:AI 板块一级市场比较活跃，io.net 等去中心化算力平台推出积分，同时发币在即，市场关注度高，投资者可对 io.net 的一级估值等信息保持关注，且市场传闻 OpenAI 可能会在 5 月 9 日公布旗下的 ChatGPT 搜索产品，与谷歌展开竞争，会给加密 AI 赛道带来一定的场外关注度和资金。
Specific currency list:
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ARKM: Arkham is a game that uses artificial intelligence toBlockchainand on-chain dataBlockchainAnalytics platform;
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NEAR: Recently, many AI projects in the NEAR ecosystem have been raising funds, and NEAR is expected to become the AI hub of the future.
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RNDR: As the underlying infrastructure of the AI track, RNDR is not only involved in the AI field, but also has in-depth layouts in multiple tracks such as the Solana ecosystem. In addition, as Apple's VR partner, RNDR undoubtedly has huge market potential. The market will also have a hype response to the dynamics of Apple's subsequent VR devices.
3. User Hot Searches
1) Popular Dapps
Lyra: The options protocol Lyra published a blog post stating that LDX is Lyra's new utility token. The first round of LDX airdrop rewards traders and liquidity providers, using a points system to distribute LDX to users in proportion over 4 weeks. The airdrop will last for at least 3 rounds, or 12 weeks. Users can earn points through trading, yield, and invitations. The snapshot has ended, and users can participate in the airdrop activity based on the performance of LDX in the secondary market in the future.
2) Twitter
Debank: debank posted a tweet "Are you ready?" with a camera photo, which may imply an upcoming airdrop snapshot. Due to the expectation of airdrops and the fact that the airdrop rules have not yet been fully disclosed, the community discussion has quickly heated up in a short period of time.
3) Google Search & Region
From a global perspective:
Revolut: Revolut is a digital bank in the UK with more than 40 million customers worldwide. Revolut is also one of the first companies to establish an independent trading platform to provide customers withcryptocurrencyRecently, its cryptocurrency trading platform Revolut X has been opened to professional cryptocurrency traders. In connection with its new product "Revolut Ramp" launched in conjunction with MetaMask, it can directly use Revolut accounts for its MetaMask walletRecharge, the product has gradually formed a CEFI+DEFI business closed loop. Since it is currently only open to professional traders, the actual audience is relatively small.
From the hot searches in each region:
Yesterday, the hot searches in various regions showed great differences, but Asia and CIS regions still maintained considerable search enthusiasm for RWA.
There are also some differences in the search for meme tokens in Europe, America and Africa. In Europe, there are meme tokens with dog totems such as floki and shib, while in Africa and the Middle East, there are many hot search records for pepe.
Potential Airdrop Opportunities
MEZO
Mezo is a BTC Layer 2 project that focuses on the BTC ecosystem, helping BTC holders to transfer and manage money on the chain, and driving the development of the BTC DeFi system. Mezo recently announced the completion of a $21 million financing round, with participating institutions including Pantera Capital, Hack VC, Multicoin Capital and other leading institutions in the industry.
The official has already disclosed its BTC asset pledge plan and introduced a referral mechanism. There are strong expectations for the project's airdrops and it is currently in the initial stage of operation.
How to participate: 1) Visit the project website and find the invite code in Discord; 2) Enter the invite code and link to unisa wallet;3) Deposit BTC.
DFLOW
DFlow is a decentralized order flow market designed to support order flows from various L1 chains and Rollups. It has received US$7.5 million in financing from well-known institutions such as Framework, Coinbase, Wintermute, and Multicoin.
The project is simple to interact with. You can earn points by depositing on the Solana chain. If there are airdrops in the future, it is expected that the points will become an important basis for issuing airdrops. DFlow Season 0 has ended and the first phase of the preseason is now starting! The preseason is a warm-up for the DFlow mainnet in late May. The DFlow mainnet means that the DFlow application and protocol will be available.
具体参与方式为：到 DFLOW 官网创建账号，会生成一个可导出私钥的 Solana wallet地址，向钱包里充值至少价值 5 美金 DFLOW 支持的代币（SOL、jitoSOL、USDT、USDC 等），项目会根据存入的金额大小和时间给 XP 积分。此外，邀请好友充值到 DFLOW 会获得额外积分。
Original link: https://www.bitget.com/zh-CN/research/articles/12560603809293
The article comes from the Internet:Bitget Research Institute: After halving, the cost price of miners reaches 60,000 US dollars. If it falls below, there may be a rebound opportunity
"Events generate expectations, expectations generate market attention, and market attention drives prices up." Written by: Rain in the Rain Hello everyone, the May Outlook is here, thank you for your long wait. Considering the market situation was unclear before (although I think it is the bottom, but I still want to observe for a few days), I did not publish content on May 1st. Now the content is here, enjoy~ This article is my personal opinion based on Narrati…
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