Bitget Research Weekly Highlights: BlackRock Resubmits Application for BTC Spot ETF, DeFi Sector Rallies Amid Volatility
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Bitget Research Weekly Highlights: BlackRock Resubmits Application for BTC Spot ETF, DeFi Sector Rallies Amid Volatility
Focusing on on-chain data, weekly news roundup.
Navigating Web3 tides with focused insightsOver the past week (7/3–7/7), several new trending cryptocurrencies and topics have emerged in the market.
1. Market Trends
The most discussed topics in the market this week (07.03–07.07) were:
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Multichain potentially hacked, triggering market panic and sell-off
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VMPX minting consumed over 1900 ETH in gas fees, with broader market continuing to consolidate
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PEPE 2.0 surge boosted the Meme sector; major cryptocurrencies entered short-term consolidation
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BlackRock’s re-filing for a spot BTC ETF stimulated market rally, while PoW leaders such as BCH and LTC began to pull back
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COMP continued to lead market gains, with DeFi sector rising amid volatility
2. Popular Projects
The hottest projects this week (07.03–07.07) include:
WHEE (token): A BRC-20 meme token. Influencer @markjeffrey, with 53.5K Twitter followers, has repeatedly promoted and purchased it. The token currently has a market cap of $6.8 million, up 8% in the last 24 hours, with trading volume at $95,000. Recently launched Multibit Bridge—an EVM cross-chain bridge—initially supports ORDI, OXBT, and WHEE transfers, contributing to increased visibility.
SHIB (token): A meme coin that experienced explosive growth during the previous bull cycle. Though underperforming relative to the broader market recently, it still maintains a solid trading community base and potential upside in a bull market. Additionally, development continues on the Shibarium blockchain, suggesting future potential worth monitoring.
VMPX (token): The eVMPX token officially opened minting on July 5 at 1:25 AM. Users could mint by paying only gas fees. Future eVMPX can be exchanged for XN—the native token of XEN’s upcoming blockchain—at a 1:3 ratio, increasing recent interest. However, the BRC-20 version of VMPX saw its price drop by 40% in one day due to value dilution concerns. Yesterday, the Ethereum-based VMPX minting contract burned 1,900 ETH, pushing network gas fees up to around 50 gwei. Bitget has listed VMPX-ERC20 (VMPXERC20) in its Meme zone, making it a project to watch.
PEPE 2.0 (Token): A project created by a former whale previously blacklisted by PEPE. It surged fivefold from its lows recently, driving momentum across other meme coins. Current on-chain liquidity stands at $1.46 million, with $9.33 million traded in the last 24 hours. Contract analysis shows anti-whale protections that are modifiable. Bitget was the first CEX to list the project, and Kucoin announced its listing today, indicating extremely high热度, warranting continued attention.
Fayden (NFT): Project FADA. On-chain data indicates an ERC-721 standard contract. There were numerous “Set Approval For All” transactions yesterday. The NFTs are tradable on OpenSea, with total volume at 25 ETH, floor price at 18.8 MATIC, a total supply of 5,552 NFTs, and 1,005 holders.
Zerion DNA (NFT): Zerion DNA is a pioneering generative NFT that evolves as users explore Web3. Wallet activity shapes the NFT's appearance, reflecting the user’s real Web3 journey. This means Zerion DNA changes over time based on factors like gas spent, assets held, and networks used.
Playbux (Dapp): A metaverse project on the BNB chain integrating real-world shopping (“shop-to-earn”), DeFi, NFTs, and virtual community events. Users can explore the blockchain ecosystem within Playbux’s metaverse (e.g., PancakeSwap, 1inch, NFT marketplaces, mini-games) and also shop for real-world goods to earn cashback. Playbux ranks among the top on-chain social engagement leaderboards, reaching 130,000 users over the past 30 days, indicating strong热度.
Hooked (Dapp): A Binance Launchpad project focused on Web3 education. Its AI-like product, Hooked Academy Sensei, will collaborate with OpenCampus to shape the future of learning. Token trading热度is moderate, with primary usage centered in the app’s user communities. The wallet launched half a month ago, quickly gaining significant attention.
LayerZero (Dapp): A cross-chain interoperability protocol enabling dApps on different blockchains to communicate without relying on intermediary chains or consensus layers. Contracts built on LayerZero now occupy nearly half of Arbitrum’s top gas-consuming applications, including Stargate, Woo, and NFTs on Holograph.
3. Hot Searches
The most searched topics this week (07.03–07.07) include:
BTC (Token): BlackRock CEO Larry Fink referred to cryptocurrency as "digital gold" and Bitcoin as an international asset during a Fox Business interview on Wednesday. He emphasized that Bitcoin isn’t about hedging against any single country’s economic issues or currency devaluation but represents a global asset class. This public endorsement from BlackRock’s CEO provided tangible bullish sentiment, helping BTC exit its recent correction phase.
Litecoin (Token): The crypto exchange EDX, backed by prominent U.S. institutions Fidelity, Citadel, and Charles Schwab, supports trading of BTC, ETH, LTC, and BCH. LTC and BCH had performed well prior, but both pulled back yesterday by approximately 15%, increasing liquidations across the market. With heightened volatility in these tokens, investors should implement proper profit-taking and stop-loss strategies.
PENDLE (Token): Pendle’s TVL has steadily increased month-on-month since January, rising from $15 million at the start of the year to over $120 million currently. Binance, showing confidence in the LSDFi sector, announced PENDLE’s listing yesterday. The token spiked sharply before correcting, then rebounded yesterday, also lifting LBR (Lybra Finance), another LSDFi project. Bitget has already listed LBR.
SHIB (token): A meme coin that surged during the last bull market. Despite underperforming recently, it retains a strong trading community and upside potential in a new bull run. Development continues on the Shibarium blockchain, suggesting future promise. Today, a new SHIB 2.0 token appeared on-chain, surging 700x in price. Bitget has listed it, allowing users to trade.
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 cryptocurrency enthusiasts. To date, Bitget Research has provided early access to high-potential assets across popular 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, and investments should be made with caution. This article does not constitute investment advice. Readers should consider whether any opinions, viewpoints, or conclusions presented 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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