Bitget Research Weekly Highlights: Major cryptocurrencies remain in low volatility, CRV faces significant liquidation risk
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Bitget Research Weekly Highlights: Major cryptocurrencies remain in low volatility, CRV faces significant liquidation risk
Focusing on on-chain data, weekly news roundup.
Navigating Web3 tides with focused insightsOver the past week (June 12–16), the market saw the emergence of several new trending cryptocurrencies and topics.
1. Market Trends
The most discussed topics in the market this week (June 12–16) were:
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BlackRock filed for a spot BTC ETF, prompting Bitcoin to rebound to $26,000
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Ongoing market decline raised concerns about large-scale CRV liquidations
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Better-than-expected CPI data led to a slight market uptick; a U.S. judge denied the SEC’s request to freeze Binance.US assets
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Market focus remains on regulation, with major cryptocurrencies experiencing low volatility
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Overall market dropped sharply over the weekend, while VMPX led a rebound in the BRC-20 sector
2. Popular Projects
The hottest projects this week (June 12–16) included:
ORDI (token): The BTC Ordinals ecosystem continues to innovate. Recently, Raph, the lead maintainer of Ordinals, merged creator Rodarmor’s recursive inscription update into the official Ordinals codebase on GitHub. As the core asset of the Ordinals BRC-20 ecosystem, ORDI has shown stronger price resilience compared to the broader market, with solid trading activity—$36 million in 24-hour trading volume across all platforms, making it the most actively traded asset in its category.
VMPX (BRC-20 Token): On June 4, XEN founder Jack released the Litepaper for X1 Blockchain, a Layer 1 EVM designed to connect the Bitcoin and EVM ecosystems, enabling trustless swaps between any BRC-20/Ordinals and ERC-20/721/1155 assets. VMPX will serve as the bridge token for the X1 blockchain and a cross-chain bridge for BRC-20 tokens. Additionally, 33% of future token allocations on the X1 network will go to VMPX holders. VMPX has continued to surge significantly.
Tether (token): Last night, Tether minted an additional 250 million USDT on the Ethereum network. This issuance aims to balance USDT liquidity across different blockchains. Tether also stated that recent FUD around USDT may be linked to CoinDesk’s access to outdated reserve reports, which no longer accurately reflect current reserves. Despite this, USDT has remained largely pegged without significant de-pegging.
RAPTOR (token): A meme coin based on the "Raptor Jesus" concept, RAPTOR has shown strong momentum since launching three days ago. Today, it surged again after capitalizing on Elon Musk's tweet featuring raptor-like images, reaching a new all-time high. The token now has a market cap of $8.35 million, $14 million in 24-hour trading volume, and is held by 2,407 addresses.
REVIVE (token): A resurrection-themed meme coin maintaining steady popularity, REVIVE rose today to test its previous high. It currently has a market cap of $1.18 million, $8.82 million in 24-hour trading volume, high turnover, and is held by 1,154 addresses.
BoringPunks (NFT): A collection of 10,000 NFTs paying homage to the legendary CryptoPunks, originally launched on the Ethereum blockchain on June 9, 2017—now celebrating its 6th anniversary. The project currently has 2,483 holders, a floor price of 0.06 ETH, and moderate social media traction.
Mint.fun Turns One (NFT): To commemorate its first anniversary, well-known NFT launch platform Mint.fun released a special NFT series. Community engagement was high, though the NFT holds limited trading value.
Companions (NFT): Land NFTs from an open metaverse platform that supports 3D modeling. There are 5,000 NFTs in total, with 119 ETH in cumulative trading volume and 2,201 holders. The collection shows moderate activity.
Binance US (Dapp): Binance.US and the SEC reached an agreement to avoid freezing the crypto exchange’s total assets. In response to the SEC’s freeze request, Binance proposed a compromise: transferring U.S. customer crypto assets to new wallets controlled solely by Binance.US using newly generated private keys.
Holograph (Dapp): A cross-chain NFT protocol whose solution enables seamless NFT transfers across blockchains without wrapping. LayerZero will power Holograph’s cross-chain messaging infrastructure. Recently, Holograph launched a time-limited, free multi-chain minting campaign for its “Building” NFT. Created by artist Amber Vittoria, the NFT can be minted for free on Ethereum, Polygon, Avalanche, BNB Chain, and Optimism within a 48-hour window.
3. Hot Searches
The most searched topics this week (June 12–16) were:
FOMC (Event): After a two-day monetary policy meeting, the Federal Reserve announced it would keep the federal funds rate target range unchanged at 5%–5.25%. This marks the first pause in rate hikes after ten consecutive increases. However, the Fed still expects borrowing costs to rise by half a percentage point by year-end, implying two more 25-basis-point hikes. Hawkish commentary triggered a sharp pullback in blue-chip assets.
BTC (Token): Asset management giant BlackRock’s subsidiary iShares filed an application with the U.S. SEC for a spot Bitcoin ETF. Named the “iShares Bitcoin Trust,” the fund would primarily consist of Bitcoin held by a custodian on behalf of the trust. According to the filing, Coinbase (COIN) will serve as the custodian via cryptocurrency exchanges.
UNI (Token): Uniswap released a draft of Uniswap v4 and invited community feedback. The upgrade introduces “Hooks”—plugins that allow customization of how pools, swaps, fees, and LP positions interact. Developers can build innovative AMM pools on top of Uniswap’s liquidity and security by integrating custom hooks with the v4 smart contracts.
MATIC (Token): The SEC classified MATIC as a security, causing its price to drop sharply. It was delisted by Robinhood and marked as restricted for U.S. users on eToro. However, Polygon’s official responses and supporter sentiment remain positive. On June 11, Polygon Labs stated that the project was developed and deployed outside the U.S., aiming for broad MATIC availability without targeting American users. On June 13, Polygon announced it would release a blueprint for its upcoming 2.0 version in the coming weeks, covering the future of the Polygon PoS chain, utility and evolution of the native token, and enhanced community governance over protocol and funding decisions.
Bitget Research focuses on “tracking on-chain data and uncovering valuable assets.” By continuously monitoring on-chain metrics and regional search trends, Bitget identifies emerging investment opportunities, delivering institutional-grade insights to cryptocurrency enthusiasts. To date, it has provided early access to high-potential assets in trending sectors such as the Arbitrum ecosystem, AI ecosystem, and SHIB ecosystem, creating superior wealth-building opportunities for Bitget’s global user base through data-driven research.
[Disclaimer] The market involves risks; investing requires caution. This article does not constitute investment advice. Readers should consider whether any opinions, views, or conclusions presented herein align with their individual circumstances. Investment decisions made based on this information are at the user’s own risk.
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