Bitget Research Institute: BWB is launched on Bitget LaunchPad, and the RWA track continues to rise

Written by: Bitget Research Institute

Summary

The crypto market is in a high-level oscillation phase, and the market is waiting for the next release of macro data to guide the market trend:

• The sectors with strong wealth-creating effects are: RWA sector, MEME sector;

• User Hot SearchToken＆Topics: Farcaster、TrueFi、DOG•GO•TO•THE•MOON

• Potential airdrop opportunities include: Scroll, Particle

Data statistics time: 4:00 on May 30, 2024 (UTC+0)

1. Market environment

The crypto market is generally in a high-level oscillation stage. Since the Ethereum ETF was approved, the market has repeatedly confirmed the price support level. The market is waiting for the next change in events or the release of macro data to guide the next trading direction. Investors are advised to pay attention to the PCE data release on Friday, the ECB rate cut on June 6, and the CPI data on June 12.

BTC ETF continues to see capital inflows, with $45 million flowing in yesterday. IBIT’s BTC share has surpassed GBTC. In terms of stablecoins, USDC Treasury minted 250 million new USDC yesterday, and stablecoins continue to see inflows.

2. Wealth-making sector

1) Sector changes: RWA sector (ONDO, TRU, PRCL)

Main reason: This bull market is mainly due to the traditional market buying brought by ETFs. As a way to introduce traditional financial markets, RWA has been constantly updating its products and raising funds. Recently, RWA layer 2 network Plume Network completed a $10 million seed round of financing. In addition, the U.S. House of Representatives Financial Services Digital Assets Subcommittee will hold a hearing next Wednesday to discuss theTokenization of the issue.

Increase situation: ONDO increased by 18.9% in the past 7 days, TRU increased by 70.8%+ in the past 7 days, and PRCL increased by 5.6% in the past 7 days;

Factors affecting the market outlook:

• 政策方面的利好：美国众议院如果能够释放 RWA 相关明确监管规定，将对该赛道类Token释放充分利好，在明确监管框架下 RWA 项目将呈现良序发展，刺激相关创业项目和已经形成的龙头项目；

• Changes in macro monetary policy: In terms of the macro environment, the rise in the yield of the 10-year U.S. Treasury bond supports the fundamentals of the RWA track; we need to pay attention to the subsequent changes in the U.S. dollar index, U.S. Treasury yields and the crypto market, and dynamically adjust trading strategies;

• Changes in project TVL: RWA track projects are basically supported by TVL. You can pay attention to the changes in TVL of the RWA track. If the TVL of a project continues to rise/suddenly rises, it is usually a signal to buy;

2) Sector changes: MEME sector (WOJAK, FLOKI, WIF)

Main reason: The core topic of this round of bull market is that institutional and retail investors do not take over each other. Retail investors prefer MEME tokens that are fairly distributed and easy to understand, including this round of MEME kings PEPE, WOJAK, WIF, FLOKI, etc. Retail investors' pursuit of such MEME coins and the release of relevant signals by related hype groups have made this round of MEME performance exceptionally outstanding.

Increase situation: PEPE increased by 93.9% in the past month, WIF increased by 37.3% in the past month, and FLOKI increased by 51.4% in the past month;

Factors affecting the market outlook:

• CommunityInformation: The operation of Meme coin has a great impact on the trend of Meme. Pay attention to the AMA and Twitter content information of the trading target. If there is new news, you can trade in time and seize the opportunity to build a position at the first time;

• Open PositionscontractIncrease or decrease in volume: open positions of WIF and FLOKIcontractThe volume rose yesterday, indicating that hot money is pouring in. Through the contract data on the tv.coinglass website, we can understand the movement of the main funds. First, we should observe how much the net long position on the contract is; then we should observe whether there is a net increase in the long position of the contract, an increase in OI, and an increase in trading volume. If so, it means that the main force is continuously buying up and can continue to hold;

3) The following sectors need to be paid attention to: Bitget LaunchPad

Bitget's latest LaunchPad Bitget Wallet Token (BWB) will be available for subscription from 2024.06.01 11:00~2024.06.06 20:00 (UTC+8). This Bitget LaunchPad will be divided into BGB purchase area and USDT purchase area, and the subscription amount is 5 million BWB tokens. Bitget Wallet is a multi-chain Web3 wallet, providing rich and diverse ecological applications and services, including Swap, NFT market, browser and LaunchPad, etc., which are popular among users in the Web3 ecosystem. This LaunchPad is exclusively issued by Bitget, and investors are advised to pay attention.

3. User Hot Searches

1) Popular Dapps

Farcaster (Dapp): Farcaster is a decentralized social network that enables developers to build novel social networks. Users will always be free to move their social identities between applications, and developers will always be free to build applications with new features on the network. On March 31, Farcaster developer Merkle Manufactory is about to complete a round of financing led by Paradigm, with a valuation of approximately US$1 billion. The project has currently developedXiaobai NavigationFor the application, users are advised to download and register an account through the Google store or Apple store to obtain potential airdrop opportunities.

2) Twitter

TrueFi (Token): The project token TRU has performed well recently, and the token price has doubled in the past two weeks. There is no fundamental update on the project at present, mainly due to the recovery of the popularity of the track. The total market value of the project is 300 million US dollars, and the contract data shows the influx of major hot money. The project is a US team and fund, and the users are mainly from Europe and the United States; the product is used for US debt RWA transactions, and the degree of awareness in Europe and CIS is higher. The project may have favorable conditions and continued growth in the future, so you can continue to pay attention.

3) Google Search & Region

From a global perspective:

DOG•GO•TO•THE•MOON (Token): Rune tokens generally rose. On-chain data shows that the top 10 addresses have continued to increase their holdings of DOG chips by more than 4% recently. Big funds are buying DOG. The leading project DOG•GO•TO•THE•MOON has risen by 25% in the past 24 hours. DOG (DOG•GO•TO•THE•MOON) has risen by more than +70% in one week after it was listed on Bitget. Bitget has already listed this asset, so you can pay attention to trading opportunities.

CTK（Token）：Shentu chain is aSafetyofBlockchain, integratedSafetyOracle, Shentu Shield compensation pool and other on-chain functions, and adoptSafetyProgramming language DeepSEA. The project token moved abnormally yesterday, with a short-term surge of more than 100%, and the transaction volume increased by 250 times.CommunityThe attention is very high. The token has fallen back at present. The volatility of the token is relatively high recently. It is suitable for professional traders to participate, but they need to pay attention to the risks.

From the hot searches in each region:

(1) Yesterday, various regions in Asia paid attention to Notcoin, mainly focusing on the surge in the price of NOT tokens.

(2) In Europe, America and Latin America, DOG, TRU, PEPE, CTK and SOL appeared on the hot searches in many places.

(3) Assets such as NOTCOIN and CTK appeared in hot searches in the CIS region, the Philippines, Türkiye, Poland, etc.

Potential Airdrop Opportunities

Scroll

Scorll recently launched a points system to prepare for the final sprint of token issuance. The rules of the points system are relatively clear at present. Users can obtain points by staking ETH, LST, various stablecoins, etc., and seize the airdrop opportunity before the final token issuance.

Scroll has raised a total of US$80 million in financing from investors including Polychain Capital, Sequoia China, Bain Capital Crypto, Moore Capital Management, Variant Fund, Newman Capital, IOSG Ventures and Qiming Venture Partners.

How to participate: Users can log in to https://scroll.io/sessions to link theirwallet, and complete the corresponding tasks according to the requirements of Session Zero to obtain points, and you can get future airdrop rewards.

Particle

Particle is a decentralized leveraged trading protocol that does not require permission and is suitable for any digital asset from tokens to NFTs. There is no price oracle, no counterparty risk, and no forced liquidation. The project is a hot project in the Blast ecosystem, and there are airdrop opportunities for early participation.

Particle completes seed round of financing, with participation from Polychain*, Nascent, Inflection, Neon DAO, Arthur Hayes and other well-known institutions and individuals.

How to participate: Users can log in to https://www.duo.exchange/ and link theirwalletYou can participate by staking the core assets in the Blast ecosystem (ETH, WETH, USDB, USDe, etc.).

The article comes from the Internet:Bitget Research Institute: BWB is launched on Bitget LaunchPad, and the RWA track continues to rise

Related recommendations: The rise of MEME coin from the perspective of Ponzi's three-plate theory

MEME coin is actually a kind of fund mismatch on a time scale for Xiaobai Navigation. Author: CaptainZ The Three-Disk Theory is a cognitive model about Ponzi proposed by Crypto Vedo. This article explores the reasons for the three bull markets based on this theory: MEME coin is a mutual aid disk, DeFi is a dividend disk, and ICO is a split disk. What is the Three-Disk Theory Crypto Vedo believes that Crypto is the most…