Bitget Research Weekly Highlights: Traditional finance giant Franklin files for spot BTC ETF, FTX receives court approval to liquidate crypto assets
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Bitget Research Weekly Highlights: Traditional finance giant Franklin files for spot BTC ETF, FTX receives court approval to liquidate crypto assets
Focusing on on-chain data, weekly news roundup.
Navigating Web3 tides with focused insightsOver the past week (09.04-09.08), the market saw several new trending cryptocurrencies and topics.
1. Market Focus: Market Trends
The most discussed topics in the market this week (09.11-09.15) were:
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BANANA GUN continued rising after relaunching; FTX filed an objection to BlockFi's bankruptcy plan
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FTX received court approval to liquidate crypto assets; U.S. August CPI exceeded expectations, reinforcing rate hike expectations
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Traditional finance giant Franklin filed for a spot BTC ETF; the broader market temporarily stabilized due to positive news
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BTC briefly dropped below 25,000 USD; Banana Gun halted its launch due to technical issues and will restart
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FTX may sell assets to repay users; altcoins broke support and declined sharply
2. Popular Projects
The hottest projects this week (09.11-09.15) include:
ORDI (Token): At the recent Token2049 conference in Singapore, Domo announced the establishment of a Layer 1 Foundation aimed at advancing decentralized indexing and governance. Unisat Wallet revealed details of brc-20-swap, integrating the inscription virtual machine with the Lightning Network. As a leading BRC-20 project, ORDI rebounded over 15% in the last three days, with a 24-hour trading volume of $11 million across all platforms.
Shailushai (Token): A Russian-language token, full name Real Smurf Cat, also known as Shailushai in English communities, is a blue creature resembling a mix of cat, Smurf, and mushroom. It has gained significant traction in English-speaking communities, possibly linked to Pepedev. The project has reached a market cap of $3 million, with a 24-hour trading volume of $7.76 million.
RICKY (Token): A meme coin based on Ricky Morty, inspired by the American adult animated science fiction sitcom created during nighttime programming. The project attracted strong interest upon launch, reaching a market cap of $1 million and a 24-hour trading volume of $1.8 million.
OSMO (Token): A new Telegram Bot project with a market cap under $2M, currently offering features including Bridge Swap, Token Creation, and MEV Blocker. The bot’s user base surpassed 9k over the weekend and continues to grow. The recent Banana Gun token launch has drawn increased attention to the Telegram Bot sector.
Sugartown Oras (NFT): The first Sugartown series from Zynga Web3 Gaming, Oras consists of 9,999 unique beings from another dimension. These Oras entities entered Sugartown through rifts in the space-time continuum, accidentally created by three farm friends while developing their game. The NFT collection currently ranks #1 on OpenSea’s new projects list, with a 24-hour trading volume of 667 ETH and 2,929 holder addresses.
Avive Profile NFT (NFT): Avive World aims to build a metaverse social network. Holding this profile NFT qualifies users for $VV token airdrops. The project recently completed its free mint event, with over 95k on-chain holders and more than 700k Twitter followers.
Friend.Tech (Dapp): Rumors suggest Friend.Tech has closed its fundraising round, making it inaccessible to VC investment. Analysts believe future token acquisition will only be possible through protocol interaction. Recent data shows clear growth: TVL surpassed $30 million, 24-hour protocol fees reached $1.2 million (ranking third behind Ethereum and Lido), and total fees exceeded 5,000 ETH.
Banana Gun Router (Dapp): Yesterday, Banana Gun successfully distributed 740 ETH. With operations resuming, the relaunch of its new token appears imminent. Strong operator intent and high community engagement suggest potential wealth creation opportunities—worth monitoring closely.
The Graph (Dapp): The Graph is a decentralized data indexing and query platform that expanded to Arbitrum earlier this year. On Thursday, September 14 at 1 PM ET, The Graph community members will host an X Space livestream titled "Scaling The Graph on L2," discussing its expansion onto Layer 2.
3. Hot Searches
The hottest topics this week (09.11-09.15) include:
JPEX (CEX): On September 13, Hong Kong’s Securities and Futures Commission (SFC) warned that cryptocurrency exchange JPEX may face criminal liability for operating without registration and marketing services to the Hong Kong public. The SFC noted JPEX charges service fees as high as 20%, indicating significant risk. Following the warning, JPEX raised withdrawal fees up to 980 USDT, with a maximum withdrawal limit of 1,000 USDT. The SFC confirmed it has referred the case to police for further investigation.
GALA (Token): Co-founders of Gala Games have reportedly filed lawsuits against each other involving disputes over GALA assets worth over $700 million. Meanwhile, Gala announced plans to fully migrate its platform to GalaChain by year-end, simplifying usage thresholds and development tools to offer full self-service capabilities to external teams before December. The token price remains low following a recent all-time low.
APE (Token): Recently, ApeCoin DAO initiated its fourth quarterly staking reward distribution of the year. From September 12, 2023, to December 10, 2023, 1,500 APE tokens will be distributed to stakers. Ongoing inflation raises concerns about token dilution. A whale who initially received 5 million APE tokens from the ApeCoin Treasury transferred 2.6 million APE to OKX, likely indicating a sale.
Polygon (Dapp): Polygon Labs yesterday released three proposals regarding the Polygon 2.0 upgrade and the migration to the POL token. PIP-17 (“Phase 0”) ensures end-users and developers won’t need to take any action during the upgrade on existing Polygon PoS and Polygon zkEVM chains. PIP-18 proposes launching the POL token to replace MATIC as the native gas and staking asset across the Polygon ecosystem. PIP-19 requires upgrading the native gas token from MATIC to POL on Polygon PoS in a way that ensures maximum backward compatibility.
TWT (Token): On September 11, when asked by a netizen “What exchanges do you like besides Binance?”, CZ replied: “I only use Binance or PancakeSwap. Actually, I’m not even sure what TrustWallet uses on the backend. I also use TrustWallet.” TWT experienced a short-term price surge followed by a pullback.
[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, views, 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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