Bitget Research: ECB cuts rates as expected, IO.NET opens for trading on June 11
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Bitget Research: ECB cuts rates as expected, IO.NET opens for trading on June 11
Over the past 24 hours, several new trending cryptocurrencies and topics have emerged in the market, which could very likely represent the next wealth-building opportunities.
Navigating Web3 tides with focused insightsAuthor: Bitget Research
Summary
The European Central Bank cut interest rates by 25 basis points, potentially initiating a global central bank easing cycle. Bitcoin spot ETFs recorded net inflows for the 18th consecutive day. The altcoin market showed muted performance, while meme trading activity on the Solana ecosystem remained high. io.net (IO) is scheduled to launch trading on June 11.
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High wealth-generation potential sectors: GameStop concept memes
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Sectors to watch going forward: TON ecosystem
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User's most searched tokens & topics: Glacier Network, Ultiverse, io.net
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Potential airdrop opportunities: UXLINK, Movement
Data collection time: June 7, 2024, 4:00 AM (UTC+0)
I. Market Environment
The European Central Bank cut interest rates by 25 basis points—the first rate cut since 2019—potentially ushering in a global monetary easing cycle. Yesterday, Bitcoin spot ETFs saw a net inflow of $218 million, marking the 18th consecutive day of net inflows. BlackRock’s IBIT now holds over 300,000 BTC. After mild consolidation, BTC broke above $71,000 today, attempting another run toward new highs.
Altcoins have shown lackluster performance overall, but memecoins on the Solana chain continue to demonstrate strong trading activity. Keith Gill (Roaring Kitty) scheduled a YouTube livestream for June 8 and disclosed a $586 million position in GME stock and options, triggering sharp rallies in the GME and KITTY tokens on Solana. Additionally, io.net (IO), an AI + DePIN project that raised $40 million, has announced its tokenomics and will open trading on June 11.
II. Wealth-Generating Sectors
1) Sector Movement: GameStop Concept Memes
Main reasons:
Roaring Kitty, known as the "king of retail investors," scheduled a livestream on YouTube for June 8, causing short-term surges in both GME stock and its associated meme token. A screenshot from Reddit revealed that Roaring Kitty disclosed his total holdings in GME stock and options worth approximately $586 million.
Price movements:
GME token on Solana surged +120% over the past 24 hours; KITTY (Roaring Kitty) rose +240%; ETH-chain GameStop (GME) increased +160% over the same period.
Factors influencing future trends:
Whether Roaring Kitty’s scheduled livestream proceeds as planned, along with its content and impact, will significantly influence market sentiment. Historically, large rallies in GameStop concept memes have been followed by substantial pullbacks. Investors should exercise caution and avoid blindly chasing price peaks.
2) Sectors to Watch Going Forward: TON Ecosystem
Main reasons:
The popularity of Notcoin has boosted overall activity in the TON ecosystem, leading to the emergence of numerous similar projects and enhanced GameFi ventures. The TON ecosystem currently hosts several high-traffic, yet-to-launch token projects: Hamster Kombat, a TON-based game, reports over 100 million users, while Catizen has surpassed 15 million users. These figures fuel market expectations for mass adoption of future TON ecosystem projects, which are expected to bring more users and capital into the ecosystem.
Specific token list: TON, NOT, STON, GRAM, FISH
III. User Search Trends
1) Popular Dapp
Glacier Network:
Glacier Network is building a programmable, modular, and scalable blockchain infrastructure for storing, indexing, and querying data to significantly enhance AI capabilities. Glacier achieves verifiable computing through GlacierAI, GlacierDB, and GlacierDA. The project raised $8 million in pre-seed and seed funding at a $100 million valuation, with participation from Foresight X and others.
2) Twitter
Ultiverse:
Ultiverse is an AI-powered one-stop platform for Web3 game creation and distribution, promoting mass adoption of AI-enhanced Web3 games. Built on the Bodhi protocol, Ultiverse uses generative AI to connect different gaming worlds. The project has completed three funding rounds totaling over $10 million, backed by prominent investors including Binance Labs. Yesterday, Binance Web3 tweeted that the 15 million ULTI rewards from its collaboration with Ultiverse had been fully distributed to eligible participants via the Binance Web3 Wallet.
3) Google Search & Regional Trends
Global perspective:
io.net: Binance Launchpool announced the listing of io.net (IO) yesterday, allowing users to mine IO by staking BNB and FDUSD. The mining period lasts four days, starting at 8:00 AM Beijing time on June 7. This sparked significant discussion on Twitter and within the community, driving substantial traffic. io.net is a decentralized computing network supporting the development, execution, and scaling of ML applications on the Solana blockchain. It aggregates 1 million GPUs to form the world’s largest GPU cluster and leverages underutilized resources via DePIN.io.net.
Regional search trends:
(1) In English-speaking regions, there was notable interest in Bitstamp, following Robinhood’s announcement that it would acquire the cryptocurrency exchange for $200 million to expand beyond the U.S., with the deal expected to close in the first half of 2025.
(2) In Europe and North America, investor attention remains focused on fundamentally sound projects, particularly in RWA, DePIN, and POW public chains. Frequently searched projects include Etherfi, Floki, and Boden.
(3) In CIS regions, interest centers on the TON ecosystem and AI projects, with NOT Coin, ARKM, and related sector assets appearing in yesterday’s Google search trends.
IV. Potential Airdrop Opportunities
UXLINK
UXLINK is a pioneering web3 social system designed for mass adoption, enabling users to build social assets and trade cryptocurrencies. It features a suite of highly modular Dapps—from onboarding and graph formation to group tools and social trading—all seamlessly integrated within Telegram.
UXLINK recently announced funding led by SevenX Ventures, Ince Capital, and HashKey Capital, raising a total of $15 million.
How to participate: Web3 social infrastructure project UXLINK has issued a series of NFTs titled “IN UXLINK WE TRUST” as airdrop eligibility tokens. Based on users’ community contributions, on-chain interactions, and asset holdings, these are divided into four tiers—“MOON,” “TRUST,” “FRENS,” and “LINK”—each offering different privileges and varying amounts of UXLINK token airdrops.
Movement
Blockchain development team Movement Labs was founded in 2022 and previously raised $3.4 million in a seed round in September 2023. In addition to its flagship product, Movement L2, Movement Labs plans to launch Move Stack—a modular execution layer framework compatible with rollup frameworks such as Optimism, Polygon, and Arbitrum.
Recently, Movement Labs secured $38 million in Series A funding led by Polychain Capital, with participation from Hack VC, Foresight Ventures, Placeholder, and other well-known institutions.
How to participate: Access the Movement Zealy task portal (note: social tasks are time-bound and continuously updated). Complete DEX interactions—just a few test transactions—and await further official announcements.
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