Bitget Research Weekly Highlights: Bitcoin ecosystem remains hot, BlackRock registers Ethereum trust
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Bitget Research Weekly Highlights: Bitcoin ecosystem remains hot, BlackRock registers Ethereum trust
Focusing on on-chain data, weekly news roundup.
Navigating Web3 tides with focused insightsOver the past week (11.6–11.10), several new trending cryptocurrencies and topics emerged in the market.
1. Market Trends
The most discussed topics in the market this week (11.06–11.10) were:
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BlackRock registered an Ethereum trust; ETH broke above $2,000
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Bitcoin surpassed $36,000; SEC Chair hinted at FTX possibly restarting
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Bitcoin ecosystem remains hot; Circle considering a Q1 2024 IPO
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ORDI's Binance listing triggered broad gains across the BRC-20 sector; NFT market recovery led to a surge in BLUR trading volume
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Broad altcoin rally; Greed Index rose to 72, hitting a yearly high
2. Popular Projects
The hottest projects this week (11.06–11.10) included:
sats (Token): The most popular BRC-20 token currently, with a ~16x increase over the past month, creating strong wealth effects. As more market participants become aware of and invest in the Ordinals ecosystem, sats' momentum may continue.
RATS (Token): A meme-type BRC-20 token representing "rats." Benefiting from recent capital inflows into the sector, this token has seen explosive growth in on-chain trading volume—226 BTC (~$8.13 million) in 7-day volume. Price has pulled back slightly; current market cap stands at 33 BTC.
MAPO (Token): Token deployed by MapProtocol on BRC-20, aiming to build a BTC rollups Layer 2 protocol. Yesterday, ROUP—the first cross-chain project in its ecosystem—conducted a public mint of 21 million tokens, all of which have been distributed. Current market cap is $3 million.
GROK (Token): Inspired by xAI, Elon Musk’s AI startup launching its first AI model named Grok, the on-chain meme token GROK gained significant speculative interest. It has accumulated a large number of holders and high trading volume, with price consolidating at elevated levels and ~$6 million in 24H trading volume.
LINK (Token): Chainlink, the leading oracle project, continued its upward trend, breaking previous highs again today with price surpassing $14. Its global 24-hour trading volume reached $1.16 billion, ranking it #12 by market cap among cryptocurrencies, showing strong momentum.
MATIC (Token): NEAR Foundation and Polygon Labs announced a strategic partnership to jointly develop zkWASM, a zero-knowledge prover for WASM blockchains. The zkWASM prover is scheduled to launch next year. MATIC rebounded 60% from its lows during this market cycle, demonstrating solid performance.
Crypto Punks (NFT): Influenced by rising market sentiment around tokens, whales have returned to the NFT space, with one address purchasing zombie Punks worth over 100 ETH. Overall NFT market热度 has picked up.
Springfield Punks (NFT): Following satire of NFTs in *The Simpsons* Halloween special, Rino Russo, creator of *The Simpsons*, launched a free-mint NFT collection themed after the show called Springfield Punks. The floor price experienced a wild FOMO-driven rollercoaster, peaking at 0.45 ETH before rapidly falling below 0.1 ETH.
Ethscription (Dapp): Developed by Tom Lehman, co-founder and former CEO of Genius.com, Ethscription is a protocol for inscribing data on Ethereum using call data to create and share digital objects. The protocol's native token ETHS surged from a mint price of 1 u to over 3,000 u, marking an extraordinary rise.
Port 3 (Dapp): Port 3 is a blockchain project aiming to become a Web3 social data gateway. By aggregating Web2 and Web3 data, it provides open data services. Port 3’s design includes three core modules: data collection, data reading, and data application, enabling aggregation of community dynamics, social media trends, and on-chain transaction data. It aggregates data via DAO tools and displays results through its SoGraph.xyz platform, including community trends and market movements. The Port 3 Protocol forms the foundation of its open and collaborative data layer, allowing data providers to control their data, earn rewards when sharing, and protect privacy. Through its architecture, Port 3 accelerates the migration of Web2 users and data into Web3, striving for secure and efficient social data aggregation.
3. Hot Searches
The most searched topics this week (11.06–11.10) were:
BTC (Token): BTC broke above the $36,000 mark today, triggering $31 million in short liquidations across the market. Price briefly spiked toward $37,000 before settling around $36,500. After the Federal Reserve’s November meeting, Chairman Powell’s dovish remarks activated a “risk-on” mode in capital markets, benefiting risk assets.
ORDI (Token): Binance listed Ordinals (ORDI) and added a “seeds” tag, causing a surge in trading volume and a sharp rise in ORDI’s price, along with broad gains across BRC-20 tokens. Previously, UniSat Wallet launched BRC-20 Swap, initially supporting 14 Bitcoin inscription assets (sats, ordi, trac, oshi, btcs, oxbt, texo, cncl, meme, honk, .bit, vmpx, pepe, mxrc).
Gala (Token): The on-chain gaming sector saw broad gains recently. Gala, a popular gaming asset from the previous cycle, attracted significant speculative attention, with its price rebounding over 80% in the past half-month. It also ranked high in Twitter search volume, suggesting it warrants continued monitoring. Other assets in the same sector such as RACA and GMT are also worth watching.
Bitget Research focuses on “tracking on-chain data to uncover valuable assets,” mining cutting-edge investment opportunities through real-time monitoring of on-chain metrics and regional search trends, delivering institutional-grade insights to crypto enthusiasts. To date, it has provided early access to high-potential assets within trending sectors such as the Arbitrum ecosystem, AI ecosystem, and SHIB ecosystem for Bitget’s global user base, generating superior wealth effects through data-driven research.
[Disclaimer] The market involves risks; investing should be done 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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