Coin World News Report:
In the past 24 hours, the market has seen a number of new popular currencies and topics, which are likely to be the next wealth creation opportunities.
Summary:
The German government continued to sell BTC over the weekend, and BTC rebounded weakly over the weekend, while ETH approached the $2,800 support level. The update of the UniSat product drove SATS up, but the overall Bitcoin ecosystem and inscription sector were relatively dull, with NOT surging 50% over the weekend, and the entire TON ecosystem relatively resilient in the recent decline.
Representative anomalies and sectors worth paying attention to are: SATS, TON ecosystem.
User hot search tokens & topics: Data Ownership Protocol ($DOP), BitLayer, Tapswap.
Potential airdrop opportunities: RedStone, Symbiotic.
Data statistics time: July 8, 2024, 4:00 (UTC+0)
I. Market Environment:
BTC spot ETF net inflows of $143 million on the last working day of last week, the German government continued to sell BTC over the weekend, the market rebounded over the weekend and then fell, Bitcoin rebounded weakly, and altcoins followed Bitcoin in a surge and then a sharp fall, with market sentiment pessimistic.
Altcoins have few highlights, the update of the UniSat product drove SATS up, but the recent performance of the overall Bitcoin ecosystem and inscription sector has been poor. NOT rebounded strongly over the weekend, and TON tokens rose 5% against the trend in the past 7 days while BTC fell 13%.
II. Wealth Creation Sectors:
1) Sector anomalies: SATS
Main reasons:
UniSat released the UniSat Swap product update, which will launch the Swap feature on the Bitcoin mainnet and Fractal Bitcoin. Fractal Swap will be launched in September. In subsequent iterations, BTC and other mainnet assets can also exist on Fractal Bitcoin as BRC-20 wrapped assets, providing greater flexibility. From the user’s perspective, the main difference is that Fractal has faster confirmation and lower overall fees; similarities include being based on the BRC-20 protocol and using BRC-20 sats as gas fees. Fractal Swap will implement a competitive Rollup mechanism, allowing users to pack their Rollup results into sorters and earn transaction fees (BRC-20 sats) generated by all transactions within the Rollup.
Unisat announced in early July that it has completed its Pre-A round of financing in May this year, led by Binance.
Factors affecting the future market:
Although UniSat has been active since July, the entire Bitcoin ecosystem, including BTC Layer2 and the inscription track, has performed poorly. As the on-chain market prices BRC-20 tokens in terms of BTC, this track is more affected by the overall market conditions. The entire Bitcoin ecosystem is likely to have far beyond Beta performance only during an upward trend in the overall market.
2) Sectors to focus on in the future: TON ecosystem
Main reasons:
During the brief rebound of the market over the weekend, Notcoin (NOT) surged by 50%, and while the market rebounded and then fell, NOT’s price remained relatively stable and did not fall sharply like other altcoins.
In the past 7 days, BTC has fallen by 13%, and altcoins have generally fallen sharply, while TON tokens have risen by 5% against the trend in the past 7 days.
Factors affecting the future market:
The high-traffic projects in the future TON ecosystem, such as Catizen and Hamster Kambot, can continue to create wealth effects; whether the TON ecosystem itself can quickly fill in the gaps in DeFi within the ecosystem will to some extent determine the stability and momentum of the TON token’s continued rise.
III. User Hot Searches:
1) Popular Dapps
Data Ownership Protocol ($DOP)
The Data Ownership Protocol (DOP) is leveraging zero-knowledge proofs to achieve flexible transparency on top of the Ethereum L1. DOP allows users and DApps to store assets and control transaction data, or selectively disclose token holdings and historical information. The project has already opened token claims, and recently, there have been many on-chain transfers related to token claims. The token has performed well in the recent bearish market, and it is one of the few newly listed tokens with a good price trend.
2) Twitter
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BitLayer
BitLayer is a Layer 2 solution that provides Bitcoin-equivalent security and Turing completeness. It is also the first one built on BitVM. BitLayer aims to bring secure scalability to the Bitcoin ecosystem, promote asset diversity, and stimulate innovation to provide a faster, more secure, and more flexible user experience.
Recently, BitLayer opened the second phase of the Genesis Mine, with 6 BitLayer ecosystem projects participating in the event, including GamerBoom, Macaron, Anome, Vanilla Finance, Avalon Finance, and Zearn. The event will provide participants with a reward of $1.2 million worth of BitLayer tokens (BTR) and rich ecosystem project airdrops.
3) Google Search & Region
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From a global perspective:
Tapswap:
Since the beginning of 2024, various tap-to-earn games on Telegram have caused a sensation in the community. TapSwap was launched on February 15, 2024, allowing users to earn in-game tokens by clicking and completing tasks. Today, the application has over 50 million users worldwide, with nearly 1 million active users online.
From regional hot searches:
(1) Asian countries: “why crypto is down today” and “greed and fear index” appeared in the top searches in several Asian countries, with the highest investor attention on the reasons for the market decline.
(2) European and American countries: No obvious hotspots, the tokens and terms on the top search lists in each country are different, such as Australian users concerned about how to buy cryptocurrencies through PayPal, Canadian users concerned about meme coins like Doge, and French users concerned about Maga, Alephium, FTM, and other tokens.
IV. Potential Airdrop Opportunities:
RedStone
RedStone is a cross-chain oracle project. RedStone is a modular oracle for LST and LRT, providing frequent updates, reliable, and diversified data sources for dApps and smart contracts on multiple L1 and L2. The market expects the project to launch in the second half of 2024.
Currently, RedStone has completed a total of $15 million in Series A financing, led by Lemniscap, with participation from Coinbase Ventures, Blockchain Capital, Distributed Global, Lattice, Arweave, Bering Waters, Maven11, and SevenX Ventures. In 2023, the project received investments from angel rounds by the founder of Aave and co-founder of Polygon.
How to participate: (1) Obtain RSG points through participating in on-chain activities and tasks released by RedStone and its partners. (2) Creators can also earn RSG points by creating content and participating in designated activities on the RedStone Discord server, such as the best weekly content or Hall of Fame.
Symbiotic
Symbiotic is a universal restaking project that enables decentralized networks to guide powerful and fully sovereign ecosystems. It provides a method for decentralized applications called Active Verification Services or “AVS” to jointly ensure each other’s security.
Symbiotic recently completed its seed round of financing, with participation from Paradigm and Cyber Fund, raising a total of $5.8 million.
How to participate: Visit the project’s official website, link your wallet, and deposit ETH and ETH LSD assets.
