Bitget Research: The market remains in a narrow consolidation range; the short-term direction will depend on tonight's CPI data release.
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Bitget Research: The market remains in a narrow consolidation range; the short-term direction will depend on tonight's CPI data release.
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 crypto market continues to trade in a narrow range, with major assets gradually recovering after hitting a temporary bottom, awaiting directional cues for the next move. Tonight, U.S. CPI data will be released at 8:30 PM Beijing time, and the short-term market trend will hinge on this data.
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The sector showing relatively strong wealth creation potential is: SATS;
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Most-searched tokens & topics by users: DOGS, Bittensor, OpSec;
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Potential airdrop opportunities: Term Finance, Fuel Network;
Data collection timestamp: July 11, 2024, 4:00 AM (UTC+0)
I. Market Environment
After a phase of bottoming out and recovery, the mainstream crypto market continues to consolidate within a narrow range. Bitcoin remains around $58,000, while Ethereum trades between $2,900 and $3,100. Several key data releases with significant market impact are due this month, starting with tonight's U.S. CPI report, which will likely determine the market’s near-term direction.
On the ETF front, Bitcoin ETFs recorded four consecutive days of net inflows this week, yet this has not alleviated market concerns over potential sell-offs from institutions and government entities. Progress on Ethereum ETFs continues steadily, providing clearer support for ETH’s price. Globally, the Nasdaq Composite Index keeps reaching new highs, increasingly diverging from Bitcoin’s price action—indicating a growing "siphoning effect" from tech equities and signaling potential liquidity issues in the broader market.
II. Wealth-Creation Sectors
1) Sector Movement: SATS
Primary Reason: UniSat announced an update to its UniSat Swap product, launching swap functionality on both the Bitcoin mainnet and Fractal Bitcoin. Fractal Swap is scheduled for release in September. In future iterations, BTC and other mainnet assets will be able to exist as wrapped BRC-20 assets on Fractal Bitcoin, enhancing flexibility. From a user perspective, key advantages include faster confirmations and lower overall fees on Fractal; similarities include adherence to the BRC-20 protocol and use of BRC-20 sats as gas. Fractal Swap will implement a competitive rollup mechanism, allowing users to bundle their rollup results into the sequencer and earn transaction fees (in BRC-20 sats) generated within the rollup.
Price Performance: SATS rose 8.22% over the past 24 hours;
Factors Influencing Future Outlook: The future performance of SATS largely depends on the successful rollout of UniSat Swap’s Fractal Swap and whether the broader BRC-20 ecosystem can generate sustained wealth effects. If the swap product delivers a superior user experience, it could bring transformative improvements to the BRC-20 DeFi landscape and potentially reignite active trading across BRC-20 assets.
III. User Search Trends
1) Popular Dapp
DOGS
The project will distribute token airdrops based on users’ Telegram account creation date, activity level, and whether they are Telegram Premium subscribers. A vast number of users qualify, making it a broad-based airdrop where all Telegram users are eligible. The community foundation is exceptionally strong, with https://t.me/dogs_community now boasting 1,094,378 subscribers and growing. Individual regular posts on the official Twitter account receive between 700k and 1 million views, reflecting extremely high community engagement.
2) Twitter
Bittensor
Masa officially launched an AI data subnet powered by LLM on Bittensor, becoming the first tokenized data subnet in the Bittensor ecosystem. MASA has thus become the only investable "new coin" in the broader Bittensor ecosystem after TAO. It will leverage Bittensor’s peer-to-peer machine intelligence network to accelerate the aggregation, transformation, and access of AI data, enabling developers worldwide to build any AI application using global data. Despite underwhelming post-launch price performance, Masa demonstrates solid product delivery capability, suggesting potential for stronger token performance ahead.
3) Google Search & Regional Trends
Global Overview:
OpSec (Dapp):
OpSec is an AI and decentralized cloud computing platform offering decentralized servers, dedicated networks, RDP, GPU resources, one-click node setup, and cloud security via DePIN hardware. The project operates in a promising sector alongside IO.net and Aethir, which holds strong future valuation potential. With a stable operational model, rising interest in AI could drive solid business growth—making it a candidate for ongoing monitoring.
Regional Search Trends:
(1) In Asian countries, Google Trends show no distinct patterns. BTC remains the focal point of market attention. Additionally, Hamster Kombat, a game within the Ton ecosystem, has gained traction due to anticipation around its upcoming airdrop.
(2) In Western markets, search trends also lack clear consensus. Assets like Grass, Polygon, SHIB, and PENDLE appear on trending lists, but no unified theme or project dominance has emerged. Bitget has become a CEX of particular interest among users in the UK.
IV. Potential Airdrop Opportunities
Term Finance
Term Finance is a decentralized lending protocol utilizing a unique auction model to enable scalable fixed-rate and term-based borrowing and lending—the first of its kind in DeFi. It brings borrowers and lenders together through a fair and transparent auction process that determines a single market-clearing interest rate for all participants, regardless of size.
Recently, Term Finance completed its seed and strategic rounds, raising $8 million with participation from prominent investors including Electric Capital and Coinbase Ventures. On July 9, the project announced on Twitter a campaign to engage users.
How to Participate: 1. Register using an invite code or referral link; 2. Connect social accounts: Link X and Discord for seamless login; 3. Check eligibility for rewards; 4. Engage: Participate in periodic auctions for lending/borrowing; 5. Track: Use Term’s tracking dashboard to maximize your points accumulation.
Fuel
Fuel is a UTXO-based modular execution layer that brings globally accessible scalability to Ethereum. As a modular execution layer, Fuel achieves throughput levels unattainable by monolithic chains while inheriting Ethereum’s security.
In September 2022, Fuel Labs raised $80 million in a funding round led by Blockchain Capital and Stratos Technologies, with participation from top-tier firms such as CoinFund, Bain Capital Crypto, and TRGC.
How to Participate: Users can earn points by depositing tokens accepted by Fuel. For every $1 deposited in eligible assets, participants earn 1.5 points per day: ETH, WETH, eETH, rsETH, rETH, wbETH, USDT, USDC, USDe, sUSDe, and stETH. From July 8 to July 22, deposits of ezETH earn 3 points per day.
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