Bitget Research: ETH ETF trading fees announced; Grayscale establishes AI sector fund, potentially bringing incremental capital to the sector
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Bitget Research: ETH ETF trading fees announced; Grayscale establishes AI sector fund, potentially bringing incremental capital to the sector
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 insightsSummary
Yesterday, the Nasdaq recorded its largest single-day drop this year, as markets adjust to current conditions through price-in mechanisms. In the crypto market, short-term rebounds in major assets such as Bitcoin and Ethereum have stalled, yet overall market momentum remains strong with a relatively optimistic mid-term outlook. Key highlights:
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High wealth-generation potential sectors: AI, gaming, and ETH ecosystem projects;
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User-searched tokens & topics: Ether.fi, Banana Gun, GODS;
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Potential airdrop opportunities: Hamster Kombat, Term Finance;
Data collection time: July 18, 2024, 04:00 (UTC+0)
I. Market Environment
Yesterday, the Nasdaq recorded its largest single-day drop this year, as markets adjust to current conditions through price-in mechanisms. In the crypto market, short-term rebounds in major assets such as Bitcoin and Ethereum have stalled, yet overall market momentum remains strong with a relatively optimistic mid-term outlook.
Bitcoin ETFs continue to see inflows, marking nine consecutive days of net inflow. On the Ethereum ETF front, after various issuers submitted S-1/A filings for spot Ethereum ETFs to the U.S. SEC, fees for all nine proposed spot Ethereum ETFs have now been disclosed, with trading expected to commence on July 23.
Across crypto sectors, AI and gaming have emerged as standout performers amid the broader market recovery. Notably, Grayscale has announced a new decentralized AI basket fund, including leading AI-related assets such as TAO, RNDR, NEAR, and LPT.
II. Wealth-Generating Sectors
1) Sector Movement: AI (WLD, TAO, NEAR)
Main reasons:
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According to the Worldcoin official blog, Tools for Humanity announced an extension of the token lock-up period for early Worldcoin contributors. Starting July 24, 2024, the WLD token lock-up period for team members and investors will be extended from the originally planned three years to five years.
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Grayscale launched the Grayscale Decentralized AI Fund LLC, aiming to strengthen institutional investment in AI within the crypto industry. The fund currently includes decentralized AI projects such as Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR), with Near, Filecoin, and Render being the highest-weighted holdings.
Price performance: WLD up +27% over the past 7 days. TAO up 24.7%, NEAR up 32.6%;
Factors influencing future trends:
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Positive news flow: Recent favorable developments around projects like Near and WLD have been well received by the market. For example, the Worldcoin Foundation announced plans for the World Chain public blockchain, which may see updates in the coming months. Additionally, Worldcoin’s developer is reportedly exploring collaborations with PayPal and OpenAI;
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Capital inflows: With Grayscale’s launch of a dedicated decentralized AI fund, traditional finance now has a streamlined vehicle to invest in AI-focused crypto assets, paving the way for sustained capital inflows into the sector.
2) Sector Movement: Gaming (GODS, ALICE)
Main reasons:
The gaming sector has stood out during this rebound cycle, with notable rallies in GODS and ALICE. These tokens had previously experienced prolonged bearish pressure and low trading volumes, making them prone to sharp short-squeezes during upward moves. Short-term traders may find speculative opportunities here.
Price performance: GODS surged 169.2% over the past 7 days, ALICE rose 58.6%;
Factors influencing future trends:
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Community updates: Game project tokens are highly sensitive to changes in token release schedules or circulating supply. Investors should closely monitor community announcements to capture timely opportunities;
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Open interest shifts: Monitoring contract data via platforms like Coinglass can reveal institutional positioning. Given the tendency for short squeezes in these tokens, significant changes in funding rates or long/short ratios can signal speculative entry points.
3) Sector to Watch: ETH Ecosystem Projects (UNI, LDO)
Main reasons:
Spot ETH ETFs could officially launch on U.S. markets on July 23, potentially driving speculation in ETH ecosystem assets. Yesterday, SEC Commissioner Hester Peirce indicated in an interview that staking-enabled Ethereum ETFs might be reconsidered by the SEC.
Specific token list:
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UNI: The pioneering DeFi swap protocol on blockchain, Uniswap generates average daily revenues around $1 million, indicating strong fundamentals;
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LDO: A leading LSD project in the ETH ecosystem with a TVL of $2.96 billion but a market cap under $180 million, suggesting it is currently undervalued.
III. User Search Trends
1) Popular Dapp
Ether.fi (Dapp)
The Ether.fi Foundation recently outlined ETHFI token utilities, including allocating 50% of monthly protocol revenue toward ETHFI buybacks starting last month. Users can stake ETHFI tokens, earning double protocol points when staking via Karak. Ether.fi has also introduced cross-chain functionality for ETHFI via Wormhole, enabling claimability on Arbitrum's L2. An upcoming second airdrop event is expected to increase ETHFI's volatility in the near term.
2) Twitter
Banana Gun (Dapp)
Banana Gun Bot is a popular Telegram-based trading bot that enables users to execute fast DeFi trades and participate in token presales directly via Telegram. A key feature is its revenue-sharing model: holders of the Banana token receive 40% of referral-generated bot revenue and 50% of transaction tax revenue. As secondary markets recover, BANANA has performed well, currently trading around $55—up nearly 30% in one month—with strong wealth-generation effects. The token is now listed on Bitget.
3) Google Search & Regional Trends
Global search trends:
What is mining:
Cryptocurrency mining refers to the process of creating new digital currency units and validating transactions on a blockchain network. Bitcoin mining is the most famous example, though many other cryptocurrencies also rely on mining. With expectations that the Republican Party may win the 2024 U.S. election, investors are increasingly watching profitability prospects for crypto mining firms and related industries, given the party's supportive stance on mining activities.
Regional search trends:
(1) Asian countries show no distinct search patterns, but tokens with strong wealth-generation effects—such as GODS, A8, and ALICE—are drawing attention. Assets like BTC, LDO, and RPL also appear on regional trending lists.
(2) In Western markets, trending searches include AI, Polygon, ARKM, and WLD, reflecting growing investor focus on the AI sector. Bitget has emerged as a top CEX of interest among users in the UK.
IV. Potential Airdrop Opportunities
Hamster Kombat
Hamster Kombat is a clicker game built on Telegram where players act as CEOs of a cryptocurrency exchange. By tapping a hamster on-screen, users earn coins used to upgrade their exchange and boost hourly earnings. Future token airdrops will reward active players. Additional earning methods include subscribing to Telegram channels and inviting friends.
The project has surpassed 150 million global users, with 12 million Twitter followers and over 50 million subscribers on its official Telegram channel.
How to participate:
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Tap daily to earn a fixed amount of Hamster coins;
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Use Hamster coins to purchase combo cards that increase passive coin generation, and claim daily airdrop packages;
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Bitget has launched a pre-market, allowing users to place sell orders in advance and lock in profits.
Term Finance
Term Finance is a decentralized lending protocol utilizing a unique auction model to enable scalable fixed-rate and term-based lending—an innovation in the DeFi space. It brings borrowers and lenders together in a transparent auction process to determine a single market-clearing interest rate accessible to all participants, regardless of size.
Recently, Term Finance completed seed and strategic rounds totaling $8 million, with participation from prominent investors including Electric Capital and Coinbase Ventures. On July 9, the project announced on Twitter
How to participate: 1. Register using an invite code or referral link; 2. Connect social accounts (X and Discord) for login access; 3. Check eligibility for rewards; 4. Participate in periodic auctions for lending/borrowing; 5. Track: Use Term’s dashboard to maximize your points accumulation.
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