Bitget Research Weekly Highlights: ETH ecosystem begins catching up in gains, Metis network TVL surpasses BASE
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Bitget Research Weekly Highlights: ETH ecosystem begins catching up in gains, Metis network TVL surpasses BASE
Focusing on on-chain data, weekly news roundup.
Navigating Web3 tides with focused insightsOver the past week (12.25-12.29), several new trending cryptocurrencies and topics have emerged in the market.
1. Market Trends
The most discussed topics in the market this week (12.25-12.29) include:
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Significant pullback in IDO concept tokens; Metis network TVL surpasses BASE
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ETH ecosystem begins catching up, OP reaches new all-time highs
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Metis TVL climbs to $600 million amid broader market correction
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Post-correction rebound in the inscription market; Solana meme trading heats up
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Cancun upgrade enters testing phase, capital flows back into Ethereum ecosystem
2. Popular Projects
The hottest projects during this week (12.25-12.29) are:
SAIX (Token): Saiyan inscriptions, a project combining GameFi and SocialFi centered around gaming. With a total supply of 160,000 tokens, SAIX is primarily used for character upgrades, unlocking features, and participating in the XSaiyan ecosystem. Players earn rGOKU through gameplay, which can then be converted into SAIX. Trading activity has been high recently—worth watching.
BNB (Token): BNB's price surged rapidly due to strong demand from launchpad activity. Currently, BNB’s market cap (~$51.28 billion) has overtaken SOL (~$45.19 billion), returning to fourth place on the cryptocurrency market cap rankings.
RATS (Token): After major tokens like ORDI and SATS in the BRC-20 space were listed on top exchanges, their on-chain trading volumes dropped significantly. RATS, however, remains among the leaders with $1 million in trading volume over the past 24 hours and a 47% increase over the past 14 days, maintaining strong activity.
Gh0stly Gh0sts (NFT): Gh0stly Gh0sts is the first Omnichain NFT built using LayerZero technology. After the TGE of its token $BOO, the official Twitter account announced that no snapshot had yet been taken for the NFTs, implying potential future airdrops. However, the token’s market cap has fallen from a peak of $8 million to $1 million, raising concerns about sustained hype.
xpet santa hat (NFT): An NFT issued through a joint campaign between xpet and OKX NFT, featuring Christmas hats for pets. XPET is a SocialFi + GameFi project on Arbitrum where players raise and care for pets to ensure their survival, earning token rewards in return.
xPet.tech (Dapp): XPET is a SocialFi + GameFi project on the Arbitrum chain requiring players to feed, accompany, and sustain their virtual pets to earn token rewards. Recently, xpet launched a PvE gameplay mode that increases consumption of $BPET, driving both XPET and BPET prices to new highs. User and transaction data for the project have grown rapidly in recent days.
Manta Pacific (Dapp): Manta, a recently well-received Layer 2 solution, recently launched a deposit-to-earn-NFT initiative. Many users view these NFTs as potential airdrop eligibility proofs, prompting widespread participation.
MUBI (Dapp): MUBI is the native protocol token of Multibit, a cross-chain bridge connecting BRC-20 and ERC-20 ecosystems. As the BRC-20 ecosystem gains momentum, speculative interest has spilled over onto Ethereum. Multibit allows users to bridge BRC-20 assets from Bitcoin to Ethereum to access DeFi opportunities. Thanks to this unique functionality, it has attracted significant market attention and capital inflows. The MUBI token has already been listed and shows wealth-effect potential—worth continued monitoring.
Sleepless AI (Dapp): This is the first AI+Crypto project to debut on Binance Launchpool. The app uses AI to generate attractive virtual boyfriends or girlfriends, allowing users to chat with AI-powered romantic partners.
3. Hot Searches
The most popular topics this week (12.25-12.29) are:
METIS (Token): The Metis Andromeda network reached a TVL of $695 million, marking a 560% weekly increase and rising to third place among Ethereum Layer 2 networks by TVL—just under $1 million behind Base ($696 million). An allocation of up to 4.6 million METIS tokens will support ecosystem project deployments, product development, and builder incentives. The token price has quadrupled in half a month, drawing significant attention.
SEI (Token): Parallelized EVM blockchains are regaining market attention, with SEI being one of the leading examples. Breaking away from Ethereum’s sequential execution model, high efficiency and low latency represent the core narrative for next-generation EVM chains. Several related assets have begun recovering from lows, with capital steadily entering the sector. Leading figures in crypto are now expressing optimism about parallelized EVMs for 2024.
Avalanche (Dapp): The Avalanche Foundation has updated its Culture Catalyst program, aimed at empowering creators, fostering innovation, and accelerating blockchain adoption. Starting today, the initiative will purchase select meme coins based on Avalanche as collectibles, recognizing and encouraging the cultural significance they represent.
Bitget Research focuses on “tracking on-chain data to uncover valuable assets,” leveraging real-time monitoring of on-chain metrics and regional search trends to identify emerging investment opportunities. To date, Bitget Research has provided early insights into high-potential sectors such as the Arbitrum ecosystem, AI ecosystem, and SHIB ecosystem, delivering institutional-grade analysis and generating superior wealth effects 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, viewpoints, or conclusions presented herein are suitable for their specific circumstances. Investment decisions based on this information are made at the user’s own risk.
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