Bitget Research: Tomarket's traffic surges with over 18 million users, potentially becoming the next Notcoin
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Bitget Research: Tomarket's traffic surges with over 18 million users, potentially becoming the next Notcoin
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
In the past 24 hours, BTC has initiated a daily-level rebound, presenting relatively clear intraday trading opportunities. Key highlights:
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The most promising wealth-generating sectors are: BTC inscriptions projects and Tomarket;
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Most-searched tokens & topics by users: Ethervista (VISTA), IDEX, REEF;
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Potential airdrop opportunities: Ethena Season 3, Pencils Protocol;
Data collection time: September 3, 2024, 04:00 UTC
1. Market Environment
Over the past 24 hours, BTC price has fluctuated upward, currently oscillating around the $59,000 level. According to data from Alternative.me, the Fear & Greed Index dropped to 26, indicating a state of fear. Total open interest across the market rose by 3%, while funding rates for BTC and ETH perpetual contracts remain below an annualized 5%, suggesting that capital is actively using derivatives to bet on a rebound.
On the macro front, Nasdaq futures have seen slight fluctuations. After Monday’s market holiday in the U.S., markets are expected to remain volatile at Tuesday's open. Attention should be paid to inflows and outflows of BTC and ETH ETFs to assess near-term trends. The U.S. will release initial jobless claims data on Thursday and unemployment rate figures on Friday—both key indicators influencing expectations for the Fed’s rate cut magnitude in September. While these data points are not expected to deviate significantly from forecasts, pre-release risk aversion could trigger short-term downward pressure.
2. Wealth-Generating Sectors
1) Sector Movement: BTC Inscriptions (ORDI, SATS, RATS)
Main reasons:
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BTC bounced back after hitting its support level at $57,000 yesterday, rising nearly 4% within 24 hours and reigniting interest in its ecosystem assets;
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Open interest for ORDI, SATS, and RATS surged by 40%, 21%, and 16% respectively over the past 24 hours, signaling strong speculative inflows;
Price performance: ORDI, SATS, and RATS gained 21%, 15%, and 16% respectively over the past 24 hours.
Factors affecting future outlook:
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BTC price trend: The sustainability of the BTC inscriptions narrative is highly correlated with BTC’s price action. If BTC maintains its rebound momentum, holding or accumulating related inscription assets remains a viable strategy;
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Open interest changes: ORDI’s open interest increased by 40% in 24 hours, directly driving price appreciation due to hot money inflows. Going forward, monitor open interest trends in secondary market assets; continued growth indicates sustained capital inflow and supports holding positions.
2) Project to Watch: Tomarket
Main reason:
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Tomarket is a Telegram bot co-incubated by Bitget Wallet and Foresight Ventures. Since launch, it has gained broad community recognition. To date, Tomarket has surpassed 18 million users with 6 million daily active users (DAU), positioning it as a potential successor to Notcoin and one of the most watched projects in the market.
Product metrics:
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Twitter: The project’s Twitter account has 1.1 million followers, with individual tweets reaching over 800,000 views—indicating extremely high visibility;
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Telegram channel: Over 7.5 million subscribers, with single posts receiving more than 3 million views;
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Strong product fundamentals: Users earn TOMATO points through daily check-ins, task completion, referrals, and a "Tap to Farm" mechanic;
3. User Search Trends
1) Popular Dapp
Ethervista (VISTA):
VISTA token surged tenfold yesterday. Ethervista brands itself as the “new standard for DEXs,” aiming to challenge established platforms like Uniswap. Beyond being a DEX, it plans to roll out additional features such as flash loans, futures contracts, and lending—all not yet fully launched. The team or associated addresses were linked to an early ETH whale and an assistant professor from ETH Zurich, adding mystery and boosting discussion around the project.
2) Twitter
Ethena (ENA):
Ethena’s Season 2 airdrop campaign has concluded. Season 3 airdrop point accumulation began automatically on September 2 and will continue for six months until March 23, 2025. During Season 2, 5% of the total ENA supply was distributed as rewards. Users can check their eligible ENA amounts starting September 9 via a designated website, with claims opening on September 30.
3) Google Search & Regional Trends
Global overview:
IDEX, REEF:
IDEX is a hybrid liquidity decentralized exchange and a veteran project that conducted its TGE in 2019. Reef (REEF) is a Substrate-based Layer 1 blockchain that had its TGE in 2020. Recently, neither project has released major announcements, yet REEF surged over 30% in the past 24 hours.
Regional search trends:
(1) No clear hotspots in Western countries or English-speaking regions. Top-searched tokens vary by country—for example: Switzerland: TRON, TAO, LIME; Spain: QUBIC, TON, DOGS, PEPE, VELO, DOT; France: PEPE, REEF, OLAS, FLOKI, BLUM; Australia: TRON, ADA; UK: UNI, DOGE…
(2) Similar patterns observed in Asia and Latin America—no dominant trends, with search interest widely dispersed.
4. Potential Airdrop Opportunities
Ethena
Ethena’s Season 2 airdrop has ended. Season 3 point accumulation started automatically on September 2 and will run for six months until March 23, 2025. In Season 2, 5% of the total ENA supply was distributed as rewards. Users can view their allocated ENA amounts from September 9 onward and claim them starting September 30.
How to participate: (1) Earn points via multiple methods including restaking ENA on Mellow/Symbiotic, locking ENA, locking USDe, buying and holding USDe, or staking and holding sUSDe; (2) The most common approach is staking assets like USDT to mint USDe, then locking USDe into sUSDe or participating in partner protocols. Holding an ENA position allows users to stake ENA for boosted points.
Pencils Protocol
Scroll-based project Pencils Protocol recently announced a new round of funding at an $80 million valuation, backed by Taisu Ventures, DePIN X, Bing Ventures, and Black GM Capital. Earlier in May, it raised a $2.1 million seed round from investors including OKX Ventures and Animoca Brands.
How to participate: Stake USDC, USDT, ETH, or ETH LST tokens in Pencils’ farming section to earn points. Additionally, Pencils runs quarterly campaigns offering extra rewards such as boosted points or exclusive NFTs for participation.
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