Bitget Research: ETH ETF Could Be Approved as Early as July, Blast Token Airdrop
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Bitget Research: ETH ETF Could Be Approved as Early as July, Blast Token Airdrop
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
Over the past 24 hours, the crypto market saw a slight rebound. ETH ETFs are expected to be approved as early as July, and MEME tokens experienced broad gains. Key highlights:
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The sectors with relatively strong wealth-generation potential are: MEME sector, TON ecosystem projects
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User's most-searched tokens & topics: The Beacon, Blast, FET
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Potential airdrop opportunities: Bemo, Bedrock
Data collection time: June 26, 2024, 4:00 (UTC+0)
I. Market Environment
Over the past 24 hours, Bitcoin rebounded above 62,000 USDT, gaining 2.83% intraday. Ethereum rose above 3,400 USDT, up 1.43%. MEME tokens broadly surged, with WIF, PEPE, and BONK all rising over 10% in 24 hours. Meanwhile, yesterday the Blast Foundation announced it will airdrop BLAST tokens to the community at 22:00 Beijing time on June 26. Blast released its tokenomics model: total supply of BLAST is 100 billion tokens, with 50% allocated for community airdrops. The initial airdrop amounts to 17 billion tokens. Blast has become the sixth-largest on-chain economy. Bitget has launched a limited-time BLAST airdrop campaign—investors may stay tuned.
On the market front, spot Bitcoin ETFs recorded a net inflow of $31.01 million yesterday—the first net inflow after seven days of outflows—suggesting Bitcoin prices could strengthen. Additionally, there’s positive news for spot Ethereum ETFs. Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), stated that the process for launching spot Ethereum ETFs is progressing smoothly. Based on the timeline from previously submitted Form 8-A filings for spot Ethereum ETFs, ETH ETF approval is highly likely in July.
II. Wealth-Generating Sectors
1) Sector Movement: MEME Sector (PEPE, WIF, BONK)
Main reasons: Influenced by improved crypto market sentiment, Bitcoin rebounded slightly yesterday, and BTC ETFs saw some net inflows, spurring wealth effects to spill over into the Meme sector. If the broader market maintains an upward trend, investors should continue monitoring Meme assets, which typically show early signs of wealth creation during BTC recovery phases.
Price performance: Pepe (PEPE) gained 15.96% over 24H, dogwifhat (WIF) rose 17%, Bonk (BONK) increased 12.8%.
Factors affecting future trends:
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ETH price momentum: DEX liquidity in the ETH ecosystem remains healthy, and many tokens are priced in ETH on decentralized exchanges. An ETH rally directly amplifies gains for ETH-based ecosystem assets. Sustained ETH price increases can maintain investor interest in core Ethereum assets;
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Community speculation enthusiasm: PEPE resonates strongly with U.S. retail traders, whose collective behavior drives volatility. PEPE is highly active in trading and prone to sharp price swings. PEOPLE stands out because its project team has nearly abandoned development, yet it retains high speculative热度. Its recent surge was primarily driven by a short squeeze. FLOKI, a veteran MEME token, has also seen frequent activity lately and warrants attention.
2) Sector to Watch: TON Ecosystem
Main reasons: Notcoin's popularity has boosted overall activity in the TON ecosystem, leading to a surge in similar projects and upgraded GameFi initiatives. Several high-traffic, non-tokenized projects already exist within the TON ecosystem: Hamster Kombat claims over 100 million users, and Catizen has surpassed 15 million users, fueling market expectations for mass adoption of future TON-based projects, which could bring more users and capital into the ecosystem.
Price performance: Notcoin rose 8% over 24H;
Specific token list: TON, NOT, STON, GRAM, FISH
Influencing factors:
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During broader market downturns and sharp altcoin declines, TON and other TON ecosystem tokens have demonstrated relative resilience.
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The two largest DEXs—and highest TVL protocols—within the TON ecosystem, DeDust and STON.fi, saw their TVL grow逆势 by 12% and 3%, respectively, over the past 7 days.
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High-traffic Telegram Mini Apps within the TON ecosystem, Catizen and Hamster Kombat, have drawn significant market attention due to surging user counts. Catizen now has over 1.25 million on-chain users, while Hamster Kombat has exceeded 150 million users, making them rare bright spots in the recent crypto landscape.
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Pantera Capital is raising funds for a new investment vehicle focused specifically on TON tokens. Dubbed the "Pantera TON Investment Opportunity," the fund aims to raise capital to purchase additional TON tokens, with a minimum investment of $250,000 per backer.
III. User Search Trends
1) Popular Dapps
Blast: Today, Blast released its tokenomics. As a Layer 2 network based on Optimistic Rollup, Blast was launched by Pacman, founder of NFT marketplace Blur, with backing from investment firms such as Paradigm and Standard Crypto. It raised $20 million in funding and launched its mainnet in March this year. The Blast network has over $3 billion in total value locked (TVL), with more than $2 billion locked in Dapps. It hosts over 1.5 million user addresses and supports over 200 Dapps. The total supply of BLAST tokens is 100 billion, with 50% allocated for community airdrops. The first phase of airdrops accounts for 17% of the total supply, with 7% each distributed as Blast Gold and Blast Points. Given the recent poor market performance and multiple flagship projects launching below initial prices, users are advised to approach airdropped tokens cautiously, especially those with weak fundamentals.
2) Twitter
The Beacon: The Beacon is a pixel-style free-to-play action RPG launched by TreasureDAO on the Arbitrum chain. Gameplay includes solo quests, team adventures, and casual customization. The game recently kicked off its third major event, offering token airdrops to participants. Token Generation Event (TGE) is planned shortly after the global game launch, expected around December.
3) Google Search & Regions
Global overview:
FET: According to official announcements, the Artificial Superintelligence Alliance has made significant progress on ASI token consolidation. Phase one begins July 1, 2024, when the SingularityDAO dApp opens a migration platform allowing AGIX and OCEAN holders to convert their tokens into FET. Conversion rates: 1 AGIX = 0.433350 FET; 1 OCEAN = 0.433226 FET.
Phase two involves cross-chain deployment of ASI tokens. The FET network will upgrade to the ASI network, opening migration contracts from FET, AGIX, and OCEAN to ASI. EVM and other bridges will go live, and exchanges will begin transitioning from FET to ASI spot markets. Currently, AI tokens are rising along with the broader market rebound.
Regional search trends:
(1) Asian countries: No clear search preference observed. AI-related projects appear more frequently, mainly due to strong performance over the past 24 hours by AI-sector tokens such as FET, AGIX, and OCEAN.
(2) Western countries: No obvious hotspots. Top searched tokens and terms vary across countries. Users in the U.S. and UK have reverted to conservative interests, with public blockchain projects like ICP and SUI appearing on trending lists. A similar trend exists in Europe, though with slightly different focus—Solana, ADA, and Starknet are receiving more attention.
IV. Potential Airdrop Opportunities
Bemo
Bemo is the second-largest liquid staking provider in the TON ecosystem, offering users an annual yield of 3.9% when staking TON through the protocol. With current TVL at $76 million, Bemo is an early-stage project in the Ton ecosystem with substantial growth potential.
The project website hosts airdrop campaigns: users who stake via the app receive xtXP rewards, which can later be exchanged for $BMO tokens.
How to participate: 1) Visit the project website and click “Stake Now”; 2) Connect your Ton wallet to stake.
Bedrock
Bedrock is a multi-asset liquidity restaking protocol. It began with uniETH, an institutional-grade restaked token on EigenLayer, then expanded to become the first and largest liquidity restaking protocol on the IoTeX network. Before Babylon’s mainnet launch, Bedrock plans to integrate support for liquid staked Bitcoin (uniBTC).
Bedrock currently has over $200 million in TVL. Backers include top-tier investors: OKX Ventures, LongHash Ventures, and Comma3 Ventures led the round, with participation from Waterdrip Capital, Lbank Labs, Amber Group, ArcheFund, Whale Ground, and Fisher Yu, co-founder of Babylon, among others.
How to participate: If you hold ETH or IOTX, stake them on Bedrock to receive uniETH or uniIOTX, earning staking rewards and eligibility for future Bedrock airdrops. If you hold wBTC, stake it on Bedrock to receive uniBTC, qualifying for staking yields, a future Babylon airdrop, and a Bedrock airdrop.
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