Bitget Research: BTC briefly breaks above $62,000 as event-driven U.S. election-themed Meme coins surge
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Bitget Research: BTC briefly breaks above $62,000 as event-driven U.S. election-themed Meme coins surge
Over the past 24 hours, several new trending cryptocurrencies and topics have emerged in the market, and they could very well be the next wealth-building opportunities.
Navigating Web3 tides with focused insightsAuthor: Bitget Research
Summary
BTC spot ETFs recorded net inflows for six consecutive trading days. The German government’s BTC wallet balance dropped to zero, and BTC briefly surged past $62,000. However, during this BTC-led market rebound, no clear strong-performing sector emerged. Over the weekend, the shooting incident involving Trump boosted U.S. election-themed meme coins and triggered a surge of new related meme tokens.
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Key sectors to watch: ETH ecosystem
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Top user-searched tokens & topics: Fuel Network, VetChain, Blum, RWA;
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Potential airdrop opportunities: Fuel Network, Symbiotic;
Data collection time: July 15, 2024, 4:00 (UTC+0)
I. Market Environment
BTC spot ETFs saw net inflows for six consecutive trading days. The German government’s BTC wallet balance reached zero, and BTC briefly rose above $62,000. Currently, BlackRock’s IBIT and Grayscale’s GBTC hold 316,284 and 273,726 BTC respectively, surpassing MicroStrategy's BTC holdings.
However, during this BTC-driven market recovery, no standout rebounding sector emerged. Previously strong performers such as the AI sector and Solana ecosystem did not show significant momentum today. Additionally, ETH chain gas fees remain around 2 gwei, indicating that altcoins still lack excitement.
The weekend shooting incident involving Trump heightened market speculation around U.S. election-themed memes, leading to a surge of new PoliFi meme coins on-chain, many of which rebounded sharply from lows.
II. Wealth-Creating Sectors
1) Key Sector to Watch: ETH Ecosystem (Blue-chip DeFi like LDO, UNI, and high-heat ETH-based memecoins)
Main reasons:
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On July 11, The Block reported that potential Ethereum ETF issuers are eagerly awaiting updated guidance from the U.S. SEC on upcoming product launches. Multiple institutions submitted amended S-1 forms for spot ETH ETFs on July 9.
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On prediction platform Polymarket, the probability that an Ethereum ETF will be approved by the U.S. before July 26 exceeds 82%.
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If spot ETH ETFs begin trading, traditional capital could flow into the Ethereum ecosystem via ETH ETFs. Given the abundant liquidity in U.S. capital markets, a wealth effect driven by institutional inflows is highly likely.
Factors influencing future market trends:
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The timing and messaging rhythm surrounding the launch of spot ETH ETFs will directly impact ETH’s price. Whether major ETH ecosystem DeFi projects like LDO and UNI can capitalize on this opportunity—by announcing positive developments or strategic initiatives—will significantly influence the likelihood and extent of an altcoin season within the ETH ecosystem. Meanwhile, the performance of high-heat ETH-based memecoins such as PEPE may determine whether a new meme season can be reignited.
III. User Search Trends
1) Popular DApps
Fuel Network
Fuel is a UTXO-based modular execution layer that brings globally accessible scalability to Ethereum. As a modular execution layer, Fuel achieves global throughput in ways monolithic chains cannot, 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 investors including CoinFund, Bain Capital Crypto, and TRGC. Recently, Fuel launched a deposit-for-points program that has gained strong user traction, with total deposits reaching $78.02 million.
2) Twitter
Aptos
Since its mainnet launch 19 months ago, Aptos has approved 90 improvement proposals through on-chain governance, playing a key role in advancing Web3 technology. These include: AIP-11 (Aptos Token Standard using Move Objects), AIP-21 (Fungible Asset Standard using Move Objects), AIP-41 (API for Public Randomness Generation), AIP-26 (Quorum Store), AIP-47 (Aggregator V2), AIP-62 (Wallet Standard), and AIP-66 (Key Accounts). The Aptos developer community continues to grow and innovate.
3) Google Search & Regional Trends
Globally:
VetChain:
VetChain has recently made significant progress in IoT. It recently partnered with UFC to launch an NFC application integrated with full suite features. Additionally, VetChain collaborated with NonFungibleBC to release an on-chain audiobook, attracting user attention. Backed by tangible project developments and iterations, Vet token has shown strong price performance, rising 34.4% over the past seven days and entering Google’s trending searches.
By region:
(1) In Asian countries, Google Trends show notable interest in RWA. This follows news that MakerDAO announced plans to allocate $1 billion of its reserves into tokenized U.S. Treasury products. Top players in the space—including BlackRock’s BUIDL, Superstate, and Ondo Finance—have expressed intent to actively participate, driving noticeable increases in RWA-related searches across multiple regions.
(2) In Western countries, search interest focuses on recently popular projects such as Symbiotic. Blum, a DEX enabling one-click crypto purchases via Telegram, has also appeared in multiple national trending searches, indicating high热度.
IV. Potential Airdrop Opportunities
Fuel Network
Fuel is a UTXO-based modular execution layer that brings globally accessible scale to Ethereum. As a modular execution layer, Fuel achieves global throughput in ways monolithic chains cannot, 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 major investors such as CoinFund, Bain Capital Crypto, and TRGC.
How to participate: Deposit any of the accepted tokens into Fuel to earn points. For every $1 deposited in the following assets, users earn 1.5 points per day: ETH, WETH, eETH, rsETH, rETH, wbETH, USDT, USDC, USDe, sUSDe, and stETH. From July 8 to July 22, depositing ezETH earns 3 points per day.
Symbiotic
Symbiotic is a universal restaking protocol that enables decentralized networks to bootstrap robust, fully sovereign ecosystems. It provides decentralized applications with a mechanism called Active Validation Service (AVS) to collectively secure each other.
Symbiotic recently completed a seed round raising $5.8 million, with participation from Paradigm and Cyber Fund.
How to participate: Visit the project’s official website, connect your wallet, and deposit ETH or ETH LSD assets.
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