Bitget Research: Amid Fed's reduced rate cut expectations, IO coin price rises to a new high
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Bitget Research: Amid Fed's reduced rate cut expectations, IO coin price rises to a new high
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
Yesterday, two major market data releases occurred—the release of the Fed FOMC meeting dot plot, which lowered expectations for rate cuts this year, triggering significant volatility in the crypto market. Specifically:
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The most wealth-generating sectors were: new public blockchain sector, AI sector;
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User's trending tokens & topics: IO.NET, Hifi Finance, Daddy, Aethir;
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Potential airdrop opportunities: Symbiotic, Mezo;
Data collection time: June 13, 2024, 4:00 AM (UTC+0)
1. Market Environment
Yesterday, the U.S. released the latest CPI data at 3.3%, below the expected 3.4%, prompting an immediate market rebound. Subsequently, at 2:00 AM Beijing time, the Federal Reserve’s FOMC meeting released its updated dot plot, showing that most Fed officials now expect only one rate cut (25 basis points) this year. The market erased all gains made after the CPI release.
Regarding Bitcoin ETFs, yesterday’s data showed a cumulative net inflow of $100 million, reversing two consecutive days of net outflows. From a trading perspective, although the Fed has reduced expectations for rate cuts this year, the broader market still anticipates two cuts by year-end. After this data release, the market may enter a relatively calm period. Investors are advised to wait for clearer signals before making further trading decisions.
2. Wealth-Generating Sectors
1) Sector Movement: New Public Blockchain Sector (TON)
Main reason: Recently, TON’s on-chain active user count surpassed Ethereum. Thanks to seamless integration between Telegram’s massive user base and the TON ecosystem, frequent wealth-generation events have emerged on TON, driving sustained demand for the TON token.
Price performance: TON rose 8.5% in the past 24 hours;
Factors influencing future outlook:
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Strong metrics across the board: TON network activity has steadily increased since February. To date, TON’s daily active addresses exceed those of Ethereum, and its ecosystem TVL has surpassed $460 million, reaching an all-time high;
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Ongoing ecosystem development: Recently, TON-based projects have drawn widespread attention from on-chain users. Following NOT’s wealth effect, users are increasingly focused on gaming projects on TON such as Hamster Kombat and Catizen.
2) Sector Movement: AI Sector (IO, ATH)
Main reason: Projects like IO and ATH, recently launched infrastructure projects in the AI space, have attracted broad market attention. As platforms capable of generating stable cash flows, and given that AI remains a core narrative in global tech, valuations for crypto-based AI projects continue to rise.
Price performance: IO surged 45.8% in the past 24 hours; ATH rose 50.6%;
Factors influencing future outlook:
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AI narrative: IO and ATH are both computing power supply platforms within the AI domain—infrastructure-level projects. If these platforms can form partnerships with major tech companies such as Apple, Microsoft, or NVIDIA, their token valuations would naturally increase;
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Core ecosystem growth metrics: Platform projects with clear cash flow models will see healthy valuation growth if platform demand continues to develop sustainably and generate consistent revenue.
3. User Trending Topics
1) Popular Dapp
IO.NET
The project is a decentralized computing network supporting the development, execution, and scaling of ML applications on the Solana blockchain. It aggregates 1 million GPUs into the world’s largest GPU cluster and DePIN.io.net pools underutilized resources. Launched during a relatively weak market phase, the project appears undervalued. Its price has entered an upward trajectory, rising over 50% in 24 hours, ranking among the top 10 by trading volume globally. The token is already listed on Bitget—worth continued monitoring.
2) Twitter
Hifi Finance (HIFI): An RWA-sector project that has recently produced more educational videos to help the community better understand RWA and Hifi Finance. The project maintains solid operational standards. Token performance has been average lately, moving in line with broader market corrections. It previously experienced sharp rallies and sell-offs in secondary markets, indicating it is a target actively watched and possibly manipulated by major capital players.
3) Google Search & Regional Trends
Globally:
Daddy: The main hype driver stems from the rivalry between Andrew Tate and Ansem, both of whom issued the Daddy token in the community. Andrew Tate is a well-known American internet personality and former professional boxer; Ansem is an early evangelist of WIF, highly influential in the crypto industry, and also an amateur boxer. So far, Tate’s meme coin has clearly outperformed Ansem’s, attracting significant market attention.
Aethir: The project focuses on decentralized real-time content rendering technology and possesses decentralized cloud infrastructure serving gaming and AI products. It ranks second in this niche. Its token launched around the same time as io.net, the sector leader, and both tokens have shown strong price performance, with gradually increasing trading volume and market attention.
By regional search trends:
(1) In Asia, "Crypto Crash" and "Why Crypto is Down" were the top trending searches. Yesterday’s simultaneous release of FOMC and CPI data triggered strong risk-averse sentiment, putting downward pressure on the market ahead of the announcements.
(2) In Europe and the U.S., investors focus on fundamentally sound projects, primarily in AI, DeFi, and ZK sectors. Trending projects include io.net, ZK, AEVO, UNI, etc. Additionally, macroeconomic factors remain important—CPI and FOMC appeared on search charts in several European countries.
(3) In CIS regions, interests are broader, including projects such as IO, Blast Crypto, ADA, and Crypto Whales.
4. Potential Airdrop Opportunities
Symbiotic
Symbiotic is a universal restaking project enabling decentralized networks to bootstrap robust, fully sovereign ecosystems. It offers decentralized applications a mechanism called Active Validation Service (AVS) to collectively secure each other.
Symbiotic recently completed a seed round raising $5.8 million, backed by Paradigm and Cyber Fund.
How to participate: Visit the project’s official website, connect your wallet, and deposit ETH or ETH LSD assets.
Mezo
Mezo is a BTC Layer 2 project focused on the BTC ecosystem, helping BTC holders perform on-chain transfers and yield generation, thereby advancing the development of BTC DeFi systems. Mezo recently announced a $21 million funding round led by top-tier firms including Pantera Capital, Hack VC, and Multicoin Capital.
The team has publicly disclosed its BTC asset staking plan and introduced a referral mechanism, indicating strong airdrop expectations. The project is currently in its early operational stage.
How to participate: 1) Visit the project website and find the invite code on Discord; 2) Enter the invite code and connect your Unisat wallet; 3) Deposit BTC.
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