Bitget Research: BWB Launches on Bitget LaunchPad as RWA Sector Continues to Rise
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Bitget Research: BWB Launches on Bitget LaunchPad as RWA Sector Continues to Rise
Over the past 24 hours, several new trending cryptocurrencies and topics have emerged in the market, potentially representing the next wealth-building opportunities.
Navigating Web3 tides with focused insightsAuthor: Bitget Research
Summary
The crypto market is currently in a high-level consolidation phase, awaiting upcoming macroeconomic data to guide its direction:
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Wealth-generating sectors include: RWA sector, MEME sector;
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User's most-searched tokens & topics: Farcaster, TrueFi, DOG•GO•TO•THE•MOON;
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Potential airdrop opportunities: Scroll, Particle.
Data collection time: May 30, 2024, 04:00 (UTC+0)
I. Market Environment
The cryptocurrency market remains generally in a high-level consolidation phase. Since the approval of Ethereum ETFs, the market has been repeatedly testing price support levels. Investors are now waiting for upcoming events or macroeconomic data releases to determine the next trading direction. It is recommended that investors pay attention to the PCE data release this Friday, ECB rate cuts on June 6, and CPI data on June 12.
On the BTC ETF front, capital inflows continue. Yesterday saw $45 million in inflows, with IBIT’s BTC holdings surpassing those of GBTC. On the stablecoin front, USDC Treasury minted an additional 250 million USDC yesterday, reflecting ongoing inflows into stablecoins.
II. Wealth-Generating Sectors
1) Sector Movement: RWA Sector (ONDO, TRU, PRCL)
Main reasons: This bull market is primarily driven by traditional market buying pressure brought by ETFs. As a bridge to integrate traditional financial markets, the RWA sector continues to see product updates and fundraising activities. Recently, Plume Network, an RWA Layer 2 platform, secured a $10 million seed round. Additionally, the U.S. House Financial Services Committee's Digital Assets Subcommittee will hold a hearing next Wednesday to discuss real-world asset tokenization.
Price performance: ONDO rose 18.9% over the past 7 days, TRU surged over 70.8%, and PRCL increased 5.6%.
Factors affecting future outlook:
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Regulatory tailwinds: If the U.S. House releases clear regulatory guidance on RWA, it would significantly benefit related tokens. A defined regulatory framework would foster orderly development, encouraging both new startups and established leaders in the space;
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Changes in macro-monetary policy: From a macro perspective, rising yields on the 10-year U.S. Treasury bond provide fundamental support for the RWA sector. Investors should monitor changes in the U.S. dollar index, Treasury yields, and the broader crypto market to dynamically adjust their strategies;
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TVL trends: Most RWA projects have Total Value Locked (TVL) backing them. Monitoring TVL changes can serve as a signal—sustained or sudden increases in a project’s TVL often indicate a good entry opportunity.
2) Sector Movement: MEME Sector (WOJAK, FLOKI, WIF)
Main reasons: The central theme of this bull run revolves around institutional and retail investors failing to hand off positions to each other. Retail investors favor fairly distributed, conceptually simple, and easy-to-understand meme coins such as PEPE, WOJAK, WIF, and FLOKI—the current “kings” of the meme coin trend. Strong retail enthusiasm, amplified by coordinated hype groups, has made meme coins particularly prominent this cycle.
Price performance: PEPE rose 93.9% over the past month, WIF gained 37.3%, and FLOKI increased 51.4%.
Factors affecting future outlook:
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Community signals: Meme coin operations heavily influence price movements. Monitor AMAs and Twitter posts from project teams. Timely announcements can present immediate trading opportunities and early entry points;
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Open Interest (OI) trends: OI for WIF and FLOKI increased yesterday, signaling fresh capital inflow. Use tv.coinglass to track futures data—first check net long positions, then observe whether there’s a sustained increase in net longs, rising OI, and increasing trading volume. If so, it indicates sustained institutional buying, suggesting holding positions may be favorable.
3) Sector to Watch: Bitget LaunchPad
Bitget’s latest LaunchPad offering, Bitget Wallet Token (BWB), will open for subscription from June 1, 2024, 11:00 to June 6, 2024, 20:00 (UTC+8). This LaunchPad features two purchase zones—BGB and USDT—each with a 5 million BWB token allocation. Bitget Wallet is a multi-chain Web3 wallet offering diverse ecosystem services including Swap, NFT marketplace, browser, and LaunchPad, widely favored within the Web3 community. This exclusive Bitget LaunchPad event warrants investor attention.
III. User Search Trends
1) Popular Dapp
Farcaster (Dapp): Farcaster is a decentralized social network enabling developers to build novel social applications. Users retain full control over moving their social identities across apps, while developers remain free to innovate on the network. On March 31, it was reported that Merkle Manufactory, Farcaster’s developer, is finalizing a funding round led by Paradigm, with a valuation nearing $1 billion. The project has launched an app—users are advised to download and register via Google Play or Apple Store for potential airdrop opportunities.
2) Twitter
TrueFi (Token): The project’s token TRU has performed strongly recently, doubling in price over the past two weeks. Despite no fundamental updates, renewed sector interest has driven momentum. With a $300 million market cap and clear signs of institutional capital inflow in futures data, the project—backed by a U.S. team and popular among European and American users—focuses on U.S. Treasury RWA trading and enjoys strong recognition in Europe and CIS regions. Further upside potential exists; continued monitoring is advised.
3) Google Search & Regional Trends
Global trends:
DOG•GO•TO•THE•MOON (Token): Rune-sector tokens broadly rallied. On-chain data shows top 10 addresses have collectively increased their DOG holdings by over 4% recently—indicating significant accumulation by large players. The flagship project DOG•GO•TO•THE•MOON surged 25% in the past 24 hours and has risen over 70% within a week of listing on Bitget. The asset is now available for trading—opportunities worth watching.
CTK (Token): Shentu Chain is a security-focused blockchain integrating secure oracles, the Shentu Shield compensation pool, and built using the DeepSEA secure programming language. The token spiked yesterday, surging over 100% short-term with trading volume increasing 250-fold, drawing intense community attention. Though prices have since pulled back, CTK remains highly volatile—suited for experienced traders who can manage associated risks.
Regional search trends:
(1) In Asia, Notcoin dominated searches yesterday, primarily focused on the sharp rise in NOT token price.
(2) Across Europe, the U.S., and Latin America, DOG, TRU, PEPE, CTK, and SOL appeared prominently in regional trending lists.
(3) Assets like NOTCOIN and CTK featured in search trends across CIS, Philippines, Turkey, and Poland.
IV. Potential Airdrop Opportunities
Scroll
Scroll recently launched a points system, signaling final preparations for token issuance. The current point system is well-defined—users can earn points by staking ETH, LSTs, and various stablecoins, positioning themselves for last-minute airdrop eligibility before the official launch.
To date, Scroll has raised $80 million in funding from notable investors including Polychain Capital, Sequoia China, Bain Capital Crypto, Moore Capital Management, Variant Fund, Newman Capital, IOSG Ventures, and Qiming Venture Partners.
How to participate: Visit https://scroll.io/sessions, connect your wallet, and complete tasks under Session Zero to earn points and qualify for future airdrops.
Particle
Particle is a decentralized leveraged trading protocol, permissionless and applicable to any digital asset from tokens to NFTs. It operates without price oracles, counterparty risk, or forced liquidations. As a high-profile project within the Blast ecosystem, early participation offers airdrop potential.
Particle has completed a seed round with participation from renowned institutions and individuals including Polychain*, Nascent, Inflection, Neon DAO, and Arthur Hayes.
How to participate: Visit https://www.duo.exchange/, connect your wallet, and stake core assets from the Blast ecosystem (ETH, WETH, USDB, USDe) to participate.
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