Bitget Research Weekly Highlights: Hong Kong May Open Crypto Trading for Retail Investors, Global Macro Uncertainty Weighs on Market Sentiment
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Bitget Research Weekly Highlights: Hong Kong May Open Crypto Trading for Retail Investors, Global Macro Uncertainty Weighs on Market Sentiment
Focusing on on-chain data, weekly news roundup.
Navigating Web3 tides with focused insightsOver the past week (5/22–5/26), several new trending cryptocurrencies and topics have emerged in the market.
1. Market Focus: Market Trends
The most discussed topics in the market this week (05.22–05.26) were:
Rapid rotation among popular meme coins; markets await outcome of U.S. debt ceiling negotiations.
Macro uncertainty weighs on sentiment, with BTC testing support at $26,000.
BTC fails to sustain gains, falling back to yesterday’s starting level; meme coin momentum continues to cool.
Hong Kong may allow retail investors to trade cryptocurrencies, boosting so-called "Hong Kong concept" tokens.
13 years ago, 5,000 BTC bought 1 pizza. Today, 5,000 pizzas are worth about 1 BTC.
2. Popular Projects: Hot Projects
The most trending projects this week (05.22–05.26) include:
RFD (Token): Refund Coin is launched by Blurr.eth, a punk NFT billionaire. The wallet associated with Blurr holds over $20 million in on-chain assets. The token currently has $13.52 million in liquidity, with $62.12 million in trading volume over the last 24 hours. Smart contract checks show no immediate red flags—worth monitoring.
PSYOP (Token): A highly controversial yet viral meme coin created by NFT whale Ben. 0x Scope tweeted that PSYOP's token distribution is extremely centralized, with Ben holding 93.45% of the total supply. Additionally, Ben.eth may face a class-action lawsuit over allegations of wire fraud. Participation advised with extreme caution.
TinyTap Game Events (Token): A decentralized education platform backed by Animoca Brands. Founded in 2012 and headquartered in Tel Aviv, Israel, TinyTap is a user-generated content (UGC) tech startup. It ranks among the top ten highest-grossing children’s mobile apps on both the App Store and Google Play. The team will host an AMA tonight and is preparing to launch NFTs, which could positively impact its EDU token.
The AI Odyssey (NFT): Described as a social experiment combining AI and blockchain technology. From April 25 to May 10, users could mint NFTs for free and automatically receive 15,000 AINFT tokens. Sharing the NFT on Twitter offered a chance to win 5,000 USDT. The NFTs are now live on OpenSea, with a total mint volume of 79,100 and 19,766 unique holders.
Coinbase (Dapp): Coinbase Wallet’s contract ranks among the top in user interactions on Ethereum, indicating strong on-chain activity. Recently, Coinbase’s Layer 2 network Base released its mainnet roadmap, preparing for mainnet launch. Launch criteria include proving testnet stability, successful Bedrock upgrade, and completion of internal review and external audits. Notably, Base has no plans to issue a token. After the mainnet genesis block is created, a Genesis Window will open for developers to deploy DApps on Base. Combined with Coinbase’s large exchange user base, Base L2 is expected to attract significant potential users.
Uniswap (Dapp): Uniswap’s router contract leads all DEXs on Ethereum, far surpassing competitors like 1inch, MetaMask, and 0x by multiples. However, due to the prevalence of MEV bots, aggregator routers are increasingly targeted for arbitrage. Long-time users are advised to trade directly through Uniswap to reduce exposure to sandwich attacks.
MetaMask Swap (Dapp): The DEX aggregation service built into MetaMask continues to grow in popularity, benefiting from its massive user base. Transactions via MetaMask involve 1.742 million unique addresses, with 15.75 million total interactions. Estimated total revenue reaches $207 million, with $383,000 generated this week alone.
Seaport (Dapp): Seaport is a new open-source Web3 marketplace protocol designed for secure and efficient NFT trading. Initially launched on Ethereum, it is now also live on Polygon. This metric serves as a direct indicator of OpenSea’s transaction volume. As Blur’s token price and hype decline, its trading frequency and volume have dropped—most clearly reflected in Seaport once again surpassing Blur in gas consumption.
3. Hot Searches: Trending Topics
The most searched topics this week (05.22–05.26) include:
Hong Kong Sector Tokens (KEY, CFX, ACH, LINA, HIGH, etc.): On May 23, Bloomberg reported that Hong Kong’s Securities and Futures Commission (SFC) would hold a press conference at 16:15 to announce consultation conclusions regarding regulations for virtual asset trading platform operators. Bloomberg anticipates that Hong Kong investors could begin trading cryptocurrencies such as BTC and ETH under proper safeguards starting in June.
OVR (Token): Apple will hold a “Special Event at Apple Park” on June 5, widely expected to be the launch event for new AR/VR products. Apple’s Reality Pro is anticipated to become one of the most powerful XR headsets. Riding on Apple’s hype, AR project OVR launched an App Store Giveaway campaign from May 22 to June 9. Its CEO will deliver a keynote speech at WEB3 LIVE LONDON on June 1. OVR briefly topped Coingecko’s trending list.
ADA (Token): The Cardano community is actively promoting the SPO-Poll mainnet rollout, which aims to enhance transparency and fairness in community-driven staking pool governance. The proposal has drawn significant attention within the ADA community and was retweeted by the official Cardano Foundation account—marking the most important recent development in the ADA ecosystem.
Bitget Research focuses on “tracking on-chain data to uncover valuable assets.” By continuously monitoring on-chain metrics and regional search trends, Bitget Research identifies emerging investment opportunities, delivering institutional-grade insights to crypto enthusiasts. To date, it has provided early access to high-potential assets across multiple trending sectors—including Arbitrum Ecosystem, AI Ecosystem, and SHIB Ecosystem—for Bitget’s global user base, creating superior wealth-building opportunities through data-driven research.
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