Bitget Research: Bitcoin ETFs see cumulative inflows of $480 million over the past 4 days, Meme sector leads sustained rebound
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Bitget Research: Bitcoin ETFs see cumulative inflows of $480 million over the past 4 days, Meme sector leads sustained rebound
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
In the past four trading days, Bitcoin ETFs have seen consecutive inflows totaling $480 million. The market has stabilized, with a notable rebound in the MEME sector. Specifically:
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The most wealth-generating sectors are: MEME and modular blockchain;
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Most-searched tokens & topics by users: WalletConnect, UXLINK, Saga;
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Potential airdrop opportunities: Lombard, Fuel;
Data collection time: September 18, 2024, 04:00 (UTC+0)
1. Market Environment
Yesterday, Bitcoin price broke above $61,000 before pulling back. Overall market sentiment remains neutral. Early Thursday morning, the Federal Reserve will announce its interest rate decision during the FOMC meeting. The market widely expects this to mark the beginning of rate cuts, which could trigger significant volatility. Investors should prepare accordingly.
Regarding ETFs, Bitcoin ETFs have recorded net inflows for four consecutive trading days, amounting to $480 million in total. In contrast, Ethereum ETFs continue to underperform, reporting a net outflow of $15.1 million yesterday. This divergence reflects stronger institutional focus on Bitcoin, pushing the ETH/BTC exchange rate to its lowest level in nearly three years.
In the broader crypto ecosystem, Binance’s recent listing of multiple MEME coins has significantly boosted activity across the MEME market. Numerous meme coins bearing similar names—especially those inspired by Neiro—have emerged rapidly. Investors should exercise caution when trading these assets and are advised to trade directly on centralized exchanges to ensure fund security.
2. Wealth-Generating Sectors
1) Sector Movement: MEME Ecosystem (Neiro, TURBO)
Main Drivers:
Binance recently listed three MEME coins simultaneously—an unusual move. According to Binance, these selections were based on low market cap and strong community health. This listing ignited broader enthusiasm within the MEME coin community, resulting in strong wealth-generation effects across the sector. As interest rate cuts unfold and liquidity improves, MEME coins—among the most popular assets among retail traders—are expected to gain further momentum. Investors are encouraged to closely follow Bitget's daily wealth reports for potential opportunities.
Price Performance:
Neiro and TURBO surged 49.2% and 11.7% respectively over the past 24 hours.
Factors Influencing Future Trends:
Heat sustainability: The primary value of MEME coins lies in the emotional engagement provided by their communities. Their simple, easily shareable narratives make them highly attractive to retail investors. However, investors must recognize that MEME coins typically have low issuance costs and simple business models that can be quickly replicated. Once community interest fades, investments may face substantial downside risks. Therefore, monitoring community activity and sentiment is crucial to understanding their intrinsic value.
Open Interest (OI) changes: Open interest for some existing MEME coin futures contracts increased yesterday, signaling inflow of speculative capital. By checking Coinglass for derivatives data, investors can track institutional movements—first by observing increases in net long positions; secondly, by identifying whether rising OI coincides with growing net long dominance and higher trading volume. If so, it suggests sustained buying pressure, supporting a hold strategy.
2) Sector Movement: Modular Blockchain (TIA, SAGA, DYM)
Main Drivers:
Celestia (TIA), as a leading Data Availability (DA) layer, continues to attract strong developer interest and experimentation. Additionally, new DA-focused projects are increasingly distributing airdrops to TIA stakers. Meanwhile, after prolonged consolidation, TIA’s token price has nearly returned to its initial TGE level, suggesting potential undervaluation. As a result, capital is starting to flow back into the DA sector, driving valuation recovery across related tokens.
Price Performance:
TIA, SAGA, and DYM rose 6.9%, 19.7%, and 21.5% respectively over the past 24 hours.
Factors Influencing Future Trends:
Project developments: For the DA ecosystem to remain competitive, it must continuously expand both the breadth and depth of its applications. The market needs broader adoption of DA-based apps to properly value infrastructure projects. While early signs of ecosystem growth around Ethereum and allied chains are emerging, breakout killer applications are still needed to generate solid revenue streams and justify higher valuations for foundational projects.
News catalysts: Monitor project announcements regarding product updates or partnerships. Consider early positioning if AMAs or major events are scheduled, as teams are likely to leverage improving market liquidity to release positive news.
3. User Search Trends
1) Popular Dapp
UXLINK:
UXLINK recently launched spot trading on Upbit and futures trading on Binance, driving continuous price appreciation. It just announced that its second airdrop event will begin on January 18, 2025. Following the launch of its INVITE sub-token, UXLINK introduced a new AIRDROP2049 sub-token to reward community members. Yesterday, UXLINK released a two-month post-TGE summary on its official X account, reporting record highs in registered users, number of partners, and profitability. These combined catalysts fueled strong gains, with a 7-day increase exceeding 200%.
2) Twitter
WalletConnect:
WalletConnect will launch its native token WCT on Optimism. WalletConnect stated that registration for the WCT airdrop will open on September 24. Eligibility will be determined by usage activity on the WalletConnect network. The initial token supply cap is one billion WCT, with 18.5% (185 million tokens) allocated for the first-season airdrop. This distribution will include end-users, wallets, apps, nodes, SDKs, and contributors who helped advance WalletConnect. There is currently no confirmation about post-airdrop exchange listings; users should monitor official updates from exchanges.
3) Google Search & Regional Trends
Global Overview:
Saga: Saga is a modular, game-focused chain-launch platform built on Cosmos. Its architecture consists of three layers—Security Chain, Platform Chain, and Chainlet—all developed using the Cosmos SDK. Today, tokens in the modular blockchain sector broadly rallied, with SAGA surging 18.98% on the day and up 41.29% over the past seven days. Given the rapid rotation between sectors, investors should proceed with caution.
Regional Search Trends:
(1) Due to Binance listing Neiro and Turbo, search interest in Neiro, CATE, and TURBO spiked across European regions.
(2) Telegram mini apps continue to receive widespread attention globally. With TON and BLUM set to host side events at Token2049, "blum" became a trending search term in Myanmar, Indonesia, the Philippines, and Ukraine.
(3) Search trends in Western markets are more dispersed. Driven by strong gains in modular blockchain tokens, several European countries that previously showed high interest in traditional Layer 1 blockchains have shifted focus toward modular chains. For example, Germany, France, and Poland saw rising searches for "saga" and "tia".
4. Potential Airdrop Opportunities
Lombard
Lombard is a key project within the Babylon ecosystem, aiming to unlock Bitcoin’s potential in decentralized finance (DeFi). Leveraging Babylon’s core protocol, Lombard enables trustless and self-custodial Bitcoin staking—allowing users to earn staking rewards while retaining full control over their BTC. The platform’s flagship product is LBTC, a synthetic token representing staked Bitcoin. When users stake Bitcoin via Lombard, they receive an equivalent amount of LBTC. This LBTC acts as a bridge, enabling users to interact with various DeFi protocols across different blockchains.
How to participate: 1) Connect an Ethereum wallet; 2) Transfer BTC to the address generated by Lombard and receive LBTC; 3) Holding LBTC earns dual points from both Babylon and Lombard.
Fuel
Fuel is a UTXO-based modular execution layer designed to bring globally accessible scalability to Ethereum. As a modular execution layer, Fuel achieves throughput levels unattainable by monolithic blockchains 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.
How to participate: Deposit eligible tokens into Fuel to start earning points. Participants earn 1.5 points per dollar deposited per day for the following assets: ETH, WETH, eETH, rsETH, rETH, wbETH, USDT, USDC, USDe, sUSDe, and stETH. From July 8 to July 22, depositing ezETH earned 3 points per dollar per day.
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