Bitget Research Institute: The US dollar index fell below the 102 integer mark, which may usher in a good opportunity to invest in spot assets

Written by: Bitget Research Institute

Summary

In the past 24 hours, the price of BTC has fluctuated upward, breaking through the integer mark of 61,000 US dollars, and the market is in a stage of repair and upward adjustment. Among them:

• The sectors with strong wealth-creating effects are: AI Board, Solana Meme Coin;

• User Hot SearchToken＆Topics: Particle Network, TON, Gary Gensler, Tron Network;

• Potential airdrop opportunities include: Gatto, Bcoin 2048;

Data statistics time: 4:00 on August 20, 2024 (UTC+0)

1. Market environment

In the past 24 hours, the price of BTC fluctuated upward. In one hour, the price of BTC rebounded by 1,000 points, causing a short-termcontractShort positions were liquidated. The crypto market sentiment has recovered. According to Alternative.me data, the panic index has recovered to 30. Although it is still in the panic stage, the panic sentiment has eased compared with the previous two weeks. The market may maintain a rebound for several trading days.

From a macro perspective, the Jackson Hole meeting will be held this week, and a September rate cut has become a consensus expectation of the market, but the possibility of a risk-averse pullback cannot be ruled out. The US dollar index fell below the integer mark of 102, and the 10-year Treasury yield fluctuated around 3.88%. The market ushered in a key window for trading rate cuts, and the Nasdaq monthly line began to reverse from a decline to an increase, leading the overall rebound of the risk market. The macro environment is conducive to the continued rise of crypto assets, and the market may usher in a good opportunity to invest in spot assets.

2. Wealth-making sector

1) Sector changes:AI Sector (NMR, FET, TAO)

main reason:

• Numerai is currently holding a Crypto Factor Modeling data competition. AI The track continues to deepen; FET successfully completed the merger before, and New to The Street media exposed it yesterday;

• AI track projects are the core sector that European and English users pay attention to. Recently, crypto-related terms such as AI and FET have been listed on Google's hot searches;

Rising situation: NMR, FET, and TAO rose by 28%, 11%, and 6.5% respectively in the past 24 hours;

Factors affecting the market outlook:

• Nvidia's subsequent trend: Nvidia is a bellwether of the AI track, affecting the market's overall valuation of the AI track. If Nvidia continues to rebound in the U.S. stock market tomorrow, the AI sector of the crypto market is expected to continue to rebound;

• Impact of news: Pay attention to the product updates and partnerships recently promoted by the project party. If an AMA is held, you can consider deploying related assets in advance, because there is a high probability that good news will be released in the near future using the improved liquidity environment.

2) The sectors that need to be focused on in the future: SOL Meme Coin (WIF, BONK, POPCAT)

main reason:

• The price of SOL is relatively stable, standing firmly at the integer mark of 140 US dollars, and may break through 150 US dollars in the near future; the trading volume of DEX on Solana has reached a new high recently, and the funds are relatively active, driving the rise of ecological projects;

Specific currency list:

• WIF: Solana ecosystem’s meme coin, previously listed on Robinhood. TokenGenerally, the MEME coin at the top of Solana rises faster;

• BONK, POPCAT: The core meme coins on Solana. The transaction volume has increased recently. The transaction demand is relatively high, and there is room for token layout.

3. User Hot Searches

1) Popular Dapps

Particle Network:

Particle Network unifies allBlockchainParticle Network is an L1 solution that aims to solve the user and liquidity fragmentation problems in Web3. Previously, Binance Labs announced that it had invested in Particle Network. Recently, Particle Network announced that the first joint testnet (Co-Testnet) of the Chain Abstraction Alliance is now online. As the first step to unify all chains, it is working with Berachain. As Particle Network announced its financing information and the launch of the testnet, it has attracted a large number of users to participate.

2) Twitter

TON:

The market is focusing on the high-traffic Telegram Mini Bot project DOGS in the TON ecosystem. The airdrop of DOGS will end on August 22, and TGE will be held on August 23. DOGS has supported direct pre-charge of airdrops to Bitget. The TON ecosystem is constantly expanding in many aspects, and there have been several major developments recently: former members of the TON Foundation established TON Ventures with an initial fund size of US$40 million; TON hinted that the Bitcoin network bridge TON Teleport BTC token to be launched will be named "tgBTC"; Injective announced its integration with the TON ecosystem.

3) Google Search & Region

From a global perspective:

Gary Gensler:

Media reports say that if US Vice President Harris wins the presidential election in November this year, she plans to nominate US SEC Chairman Gary Gensler as Treasury Secretary.

Tron:

Since the launch of SunPump, more than 11,000 Meme coins have been created on the Tron chain, with revenue exceeding 4 million TRX. IntoTheBlock posted on the X platform that TROXiaobai NavigationThe number of transactions with an ecosystem value between $100 and $10,000 increased by 124%, and this increase may be due to the launch of SunPump.

From the hot searches in each region:

(1) Asia: Singapore users showed interest in AI tokens, with OLAS and FET on the hot search list; the top three hot searches in Japan were NXRA, TAIKO, and BOME; the keyword RWA appeared in the hot searches in Hong Kong.

(2) CIS region: Hot searches still revolve around the TON ecosystem, with Blum, Tapswap, TON, etc. on the hot searches in the region.

(3) Latin America: Dog-related memes appeared on trending searches in many countries, including FLOKI, SHIB, and BONK.

Potential Airdrop Opportunities

Gatto

Telegram Mini App game, pet training, high degree of game completion. Announced on Twitter to cooperate with DWF, it is one of the 11 projects selected from 170 projects in the previous TON accelerator.

The project previously topped the P2E list of Telegram Apps Center and ranked third on The Open Legend list, with high traffic in the CIS region.

Specific participation methods: Upgrade pets by taking care of them, participate in stadium games, and collect rewards to gain gold coins and experience. Pets can be converted into NFTs and sold. Players can choose to buy them for free or with real money, and there will be opportunities to receive token airdrops in the future.

Bcoin 2048

The Telegram Mini App version of the 2048 game has built-in mechanisms such as watching ads to revive and completing tasks to get rewards. On August 4, the project officially disclosed data: 4M+ total users, 41M games.

Specific participation method: The gameplay is the same as the 2048 casual game. You can get points by playing games and completing tasks, etc. You will have the opportunity to receive token airdrops in the future.

The article comes from the Internet:Bitget Research Institute: The US dollar index fell below the 102 integer mark, which may usher in a good opportunity to invest in spot assets

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