Bitget Research Weekly Highlights: SEC Approves 11 Spot Bitcoin ETFs, BTC Briefly Breaks Above $48,000
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Bitget Research Weekly Highlights: SEC Approves 11 Spot Bitcoin ETFs, BTC Briefly Breaks Above $48,000
Focusing on on-chain data, weekly news roundup.
Navigating Web3 tides with focused insightsOver the past week (Jan 8–12), several new trending cryptocurrencies and topics emerged in the market.
1. Market Trends
The most discussed topics in the market this week (Jan 8–12) were:
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Bitcoin continued its steady upward trend, with BlackRock’s Bitcoin ETF surpassing $1 billion in trading volume
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The SEC approved 11 spot Bitcoin ETFs; Ethereum's ecosystem saw capital inflows as it caught up in price
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An SEC Twitter account hack caused a brief market spike; markets await final confirmation of Bitcoin ETF approvals
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Multiple signals suggest approval of spot BTC ETFs is imminent, pushing BTC above $47,000
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Risk-averse sentiment increased across the market, leading to broad declines in altcoins
2. Popular Projects
The most popular projects this week (Jan 8–12) include:
SATS (Token): Following SEC approval of spot Bitcoin ETFs, top projects in the ecosystem rallied. ORDI and SATS have since pulled back along with Bitcoin. Trading activity is now primarily dominated by centralized exchanges.
TROLL (Token): Gained attention after Elon Musk included "Troll" in his Twitter bio. Given that "troll" refers to internet trolling culture, the token was quickly picked up by meme coin investors, generating significant short-term interest.
METIS (Token): Metis is expected to become the first decentralized Optimistic Rollup sequencer early next year. A $100 million ecosystem fund will be allocated one week after the launch of Metis’ decentralized sequencer. Recently, both METIS' TVL and token price surged significantly.
LDO (Token): As the largest LSD project on Ethereum, Lido controls the highest amount of staked ETH. With progress on the upcoming Cancun upgrade, LSD sector tokens attracted strong capital inflows, driving LDO to reach new all-time highs.
Azuki (NFT): The official Azuki X account followed and reposted a tweet from Weeb 3 Foundation titled “Journey to an Open Anime Metaverse.” Weeb 3 Foundation’s X profile describes itself as “Building an open metaverse powered by $ANIME,” sparking speculation within the community that ANIME could be Azuki’s upcoming token. As a result, Azuki remained at the top of NFT trading rankings for several days, with its floor price rising by 50%.
Tinfun (NFT): Led by well-known Chinese crypto KOL Laser Cat, TinFun is an NFT project focused on Web3 virtual adventures. It recently conducted a whitelist NFT sale, raising 25,000 ETH. Winners will be announced today, and a refund portal will open shortly. The NFTs offer only artistic value and no future utility. Participation has been particularly high among Chinese-speaking communities—worth monitoring.
Gas Hero (NFT): Developed by the former StepN team, Gas Hero is a Web3 social strategy game. Unlike traditional games, it emphasizes game theory, offering deeper strategic gameplay, while leveraging decentralized exchanges to maximize transparency of on-chain data. Since launching, in-game NFT trading has been highly active.
Turnup (Dapp): A Web3 Social Gaming Ecosystem, Turnup has seen steadily increasing on-chain transaction data, ranking among the top daily active Dapps on Polygon. The team promised an AMA session with Polygon co-founder Sandeep Nailwal if the platform reaches #1 in daily active users.
Arbitrum (Dapp): According to DeFiLlama data, Arbitrum’s DEX 24-hour trading volume reached $1.67 billion, marking a weekly increase of over 31%, second only to Ethereum. Fueled by growing excitement around the upcoming Dencun upgrade, ARB’s price has shown strong momentum, reaching new all-time highs. In the past 24 hours alone, ARB rose 20%. Notably, $2.2 billion worth of ARB—approximately 90% of the current circulating supply—is set to unlock on March 16.
Pixels (Dapp): During a community AMA, Pixels announced that Season 2 of its Play-to-Airdrop campaign began on January 5. This season will distribute fewer rewards than the first and may eventually include a lottery system. Additionally, the main token, PIXEL, is scheduled for token generation event (TGE) within one to two weeks, with Season 1 rewards to be distributed prior to the TGE.
Jupiter Exchange (Dapp): Jupiter co-founder Meow announced plans to airdrop JUP tokens by the end of January. Of the total supply, 10% will be drawn from the team wallet to provide liquidity, and 15% from the community wallet for the initial airdrop and early community initiatives. On day one of genesis, approximately 15%–17.5% of tokens will enter circulation, 10%–7.5% will remain in hot wallets, and 75% will be held in cold storage.
3. Hot Searches
The hottest topics this week (Jan 8–12) include:
ETF (Event): SEC filings indicate approval of 11 spot Bitcoin ETFs, including those from VanEck, Bitwise, Fidelity, Franklin, Valkyrie, Hashdex, Ark Invest, Grayscale, BlackRock, WisdomTree, and Invesco Galaxy. The SEC chair stated the approval resulted from the Grayscale court ruling and does not signify recognition of Bitcoin or other digital assets classified as securities.
ETH (Token): During the 178th Ethereum Core Developer Execution call (ACDE), developers confirmed the Goerli testnet’s Cancun upgrade will take place on January 17, with Sepolia upgrading on January 30 and Holesky on February 7. After the launch of spot Bitcoin ETFs, capital flowed into Ethereum’s ecosystem, triggering a catch-up rally in ETH.
ARB Ecosystem (Token): With the Dencun upgrade test approaching on January 17, trading volumes for Layer 2 projects are surging. The Arbitrum community has initiated voting on a “Long-Term Incentive Pilot Program” proposal. This initiative aims to test new long-term incentive designs that could shape future reward structures on Arbitrum, benefiting various ecosystem projects.
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, Bitget Research has provided early access to high-potential assets across multiple trending sectors—including the Arbitrum ecosystem, AI ecosystem, and SHIB ecosystem—creating superior wealth-building opportunities for Bitget’s global user base through data-driven analysis.
[Disclaimer] The market involves risks; investments should be made with caution. This article does not constitute investment advice. Users should consider whether any opinions, viewpoints, or conclusions expressed herein align with their individual circumstances. Investment decisions based on this information are made at the user’s own risk.
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