Bitget Research Weekly Highlights: SEC Lawsuit Triggers Market Panic, Meme Coin Lifecycles明显缩短
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Bitget Research Weekly Highlights: SEC Lawsuit Triggers Market Panic, Meme Coin Lifecycles明显缩短
Focusing on on-chain data, weekly news roundup.
Navigating Web3 tides with focused insightsOver the past week (6/5–6/9), several new trending cryptocurrencies and topics emerged in the market.
1. Market Trends
The most discussed topics in the market this week (06.05–06.09) were:
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Market volatility continued to decline; the EU’s Markets in Crypto-Assets Regulation (MiCA) was officially released.
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Trading activity remained sluggish, with meme coins showing a significantly shortened lifecycle.
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BTC rebounded after reaching a key support level at $25,300, leading a broader market recovery, while the Optimism ecosystem showed relative strength.
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SEC lawsuits triggered market panic, briefly dampening enthusiasm for meme coins.
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Major assets fluctuated downward, though selective meme coins and new ERC protocols presented limited speculative opportunities.
2. Popular Projects
The hottest projects this week (06.05–06.09) included:
MXRC (token): A BRC-20 project created by NFT OG Kol @atgoodm. During the free mint phase, the minting process was compromised, allowing bots to抢mint and preventing some whitelisted users from participating. The project faced some FUD as a result. Current token market cap is $1.338 million, with a 24-hour on-chain trading volume of $266,000 and 12,490 holders. Its popularity has further declined.
FERC (token): An ETH-based fair launch concept mimicking BRC-20 tokens. Prices rebounded today, with nearly $3.57 million in trading volume over the past 24 hours and a 22.42% increase in the last six hours. The contract carries a risk of additional minting, with 5,554 holders. This project warrants ongoing attention.
RDNT (token): KOL and OG trader Andrew Kang published an article today praising Radiant, describing it as the "new king of money markets." With strong fundamental metrics, RDNT demonstrated robust price performance amid weak market conditions, rising 8% over the past 24 hours. It currently has a market cap of $81 million and a 24-hour trading volume of $38.56 million.
MATIC (token): MATIC faces significant litigation risks. In SEC filings against Binance, MATIC was listed among digital assets deemed securities, along with BNB and BUSD. On June 6, a whale address transferred 115 million MATIC (approximately $95.22 million) to Binance.US, potentially indicating substantial selling pressure ahead.
USDT, USDC (token): Amid recent SEC actions targeting centralized exchanges—including lawsuits against Binance and Coinbase—stablecoin holdings on these platforms have seen significant outflows, dropping more than $1.8 billion over the past three days. Despite assurances from Binance and Coinbase that user assets remain secure, capital continues to flee. The outcome of upcoming legal proceedings will be closely watched.
Greenfieldtestnet (NFT): A new Galxe campaign launched by zero-knowledge proof project Polyhedra Network. Over 52,367 addresses have already minted. Given the project's $25 million funding round, it has attracted intense interest from airdrop hunters, resulting in extremely high participation.
zkSync Era (Dapp): After an optimization upgrade on June 2, gas fees on zkSync Era decreased compared to previous levels. On June 7, withdrawals experienced delays. Following fixes, execution of some congested cross-chain requests resumed, leading to slight data improvements.
Seaport (Dapp): Seaport is a new open-source Web3 marketplace protocol for securely and efficiently buying and selling NFTs. Initially launched on Ethereum, it is now also live on Polygon. Seaport transaction volume serves as a direct benchmark for OpenSea activity. As Blur’s token price and popularity decline, its trading frequency and volume have dropped accordingly—the clearest sign being Seaport surpassing Blur in gas consumption once again.
Stickman (Dapp): Stickman mint contract, a Proof of Participation (POP) concept token on BSC. $STIC can be minted for free at a rate of 10 tokens per second per user. Each friend invited increases mining speed by 10 STIC/s, with no upper limit on mining rate. The contract shows no apparent risks. Currently, there are 9,948 on-chain holders, and no liquidity pools exist on DEXs yet. The team plans to host offline promotional events drawing large crowds.
3. Hot Searches
The most searched topics this week (06.05–06.09) were:
Binance (EVENT): On June 5, the SEC sued Binance and CEO CZ for violating U.S. securities laws. According to the complaint, the SEC classified BNB and BUSD as securities. Between 00:00 and 09:00 UTC on that day, Binance saw net asset outflows totaling $2.18 billion—about 4% of its total platform assets ($54.33 billion).
Coinbase Stock: The SEC filed a lawsuit against cryptocurrency exchange Coinbase in federal court in New York. Coinbase stock dropped 18% at market open, hitting its lowest intraday price since January 13, 2023. Cathie Wood's ARK fund purchased nearly 420,000 shares of Coinbase stock today, worth approximately $21.64 million.
ADA, MATIC (Token): Mentioned in the SEC lawsuits against Binance and Coinbase as potentially unregistered securities, rumors spread in the community about possible delistings from major exchanges. This triggered sell-offs in secondary markets. These tokens experienced notable price declines and increased volatility, creating short-term trading opportunities.
Bitget Research focuses on “tracking on-chain data to uncover valuable assets.” By continuously monitoring on-chain metrics and regional search trends, it identifies early-stage investment opportunities, delivering institutional-grade insights to crypto enthusiasts. To date, Bitget Research has provided early access to high-potential assets across trending sectors such as the Arbitrum ecosystem, AI ecosystem, and SHIB ecosystem, generating superior wealth effects for Bitget’s global user base through data-driven research.
[Disclaimer] The market involves risk, and investments should be made with caution. This article does not constitute investment advice. Users should consider whether the opinions, viewpoints, or conclusions expressed herein are suitable for their individual circumstances. Investment decisions based on this information are made at the user’s own risk.
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