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Bitget Research Weekly: Fidelity, Asset Management Giant, Files for Spot Bitcoin ETF; Azuki Faces Community Turmoil

Bitget Research Weekly: Fidelity, Asset Management Giant, Files for Spot Bitcoin ETF; Azuki Faces Community Turmoil

2023.06.30
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Bitget Research Weekly: Fidelity, Asset Management Giant, Files for Spot Bitcoin ETF; Azuki Faces Community Turmoil

Focusing on on-chain data, weekly news roundup.

2023.06.30 - 10:08:21
ETFAzuki
Focusing on on-chain data, weekly news roundup.

Over the past week (June 26–30), several new trending cryptocurrencies and topics emerged in the market.

1. Market Trends

The most discussed topics in the market this week (June 26–30) were:

  • Fidelity resubmitted its BTC spot ETF application, driving BCH above $300

  • PEPE 2.0 led the meme 2.0 narrative, while Azuki deepened the NFT bear market

  • BTC remained range-bound, with a short-term rebound in the meme sector

  • Sector rotation cycles shortened, OP rally ended as ARB took over

  • Whales increased AAVE holdings, triggering consecutive gains across DeFi projects

2. Popular Projects

The hottest projects this week (June 26–30) included:

PEPE 2.0 (token): A meme coin created by a wallet blacklisted by the original PEPE founder, aiming to be more decentralized than PEPE. It has driven recent on-chain meme coin activity and spawned a series of 2.0 meme tokens. The token currently has a market cap of $18 million and a 24-hour trading volume of $19 million, indicating high turnover. Available for trading on Bitget;

BILI (token): A grassroots project from China's largest SHIB community, inspired by Bilibili’s Nasdaq stock ticker. An experimental initiative uniting Chinese-speaking communities, it currently has a market cap of $2.47 million, a 24-hour trading volume of $60,000, and is held by 2,101 addresses;

L (token): A community-driven meme based on L from "Death Note." The project conducted an airdrop targeting Twitter Blue users, resulting in a large, real-user base. On-chain liquidity stands at $910,000, with a 24-hour trading volume of $2.9 million. The price remains in a low-volatility range;

VMPX (Token): On June 27, XEN founder Jack hosted a community AMA, promoting VMPX as a bridge between Bitcoin & Ethereum and the public chain X 1. With the anticipated launch of X 1, VMPX will be exchangeable for token XN at a 1:3 ratio, fueling sustained buying interest recently;

Azuki (NFT): Yesterday, Azuki launched its Elementals NFT collection at 2 ETH per mint, initially sparking strong community demand. However, after the reveal, the community noted minimal differences from the original series. As disappointment and perceived deception spread, prices for Azuki and Beanz NFTs plummeted by 50%, accompanied by a surge in trading volume;

Seaport (NFT): Seaport is a new open-source Web3 marketplace protocol for secure and efficient NFT trading. Initially launched on Ethereum, it is now also available on Polygon. This metric serves as a direct indicator of OpenSea’s transaction volume. As Blur’s token price declined and its popularity waned, both Blur’s transaction frequency and volume decreased—most visibly reflected in Seaport gas consumption surpassing Blur’s again;

zkSync (Dapp): Recently, zkSync has consistently ranked among the top platforms for new ETH user engagement. According to the latest Dune data, zkSync Era’s mainnet has reached 1.061 million unique wallet addresses, with 539,000 ETH bridged onto zkSync and 1.289 million total transactions. Users can check their interaction history with zkSync via https://byfishh.github.io/zk-flow/, enabling targeted development of premium accounts using Dune dashboard insights;

Maverick (Dapp): A dynamic AMM DEX featuring price-responsive, moving liquidity distributions. Recently listed on Binance Launchpool and backed by top-tier institutions including Founders Fund, Pentera, Jump, and Circle, the platform recorded $45.35 million in daily trading volume, entering the top ten DEXs by volume and gaining significant traction;

Holograph (Dapp): A cross-chain NFT protocol enabling seamless NFT transfers across blockchains without wrapping. LayerZero supports Holograph as its cross-chain messaging solution. Yesterday, it launched the limited-time free multi-chain mint event "How Far We’ve Come" by artist JimenaBuenaVida, allowing free mints across multiple chains for 72 hours;

3. Hot Searches

The most popular topics this week (June 26–30) were:

BTC (Token): BTC’s market dominance rose to 52%. Over the past two months, MicroStrategy added $350 million worth of BTC. Interestingly, historically, whenever ETG Foundation sells or MicroStrategy buys, the market tends to dip short-term.

APE (Token): Bored Ape Yacht Club (BAYC) announced the release of its new game HV-MTL Forge on June 29—a spatial building game where players can construct or customize exhibition spaces. The game centers around HV-MTL robot NFTs created by BAYC founders; owning these NFTs grants access. The token showed no significant price increase and is now listed on Bitget.

SUI (Token): Previously, "DeFi^2," a top-10 whale on DeBank, claimed that the Sui team misrepresented token emissions and was selling staking rewards earned from “locked” and “non-circulating” SUI via Binance, potentially diluting holders’ stakes by up to 20% monthly. In response, the Sui Foundation stated it did not sell non-circulating SUI staking rewards on Binance and will soon release a detailed token emission plan;

XEN (Token): XEN founder Jack hosted a community AMA, promoting VMPX as a bridge between Bitcoin & Ethereum and the public chain X 1. With X 1’s launch approaching, VMPX will be exchangeable for token XN at a 1:3 ratio, leading to growing market buying pressure.

Bitget Research focuses on “tracking on-chain data to uncover valuable assets,” mining early-stage investment opportunities through real-time monitoring of on-chain metrics and regional search trends, offering institutional-grade insights to crypto enthusiasts. To date, it has delivered early value assets in trending sectors such as the Arbitrum ecosystem, AI ecosystem, and SHIB ecosystem to Bitget’s global user base, creating superior wealth effects through data-driven research.

[Disclaimer] The market involves risks; investments should be made with caution. This article does not constitute investment advice. Readers should consider whether the opinions, viewpoints, or conclusions presented herein are suitable for their individual circumstances. Investment decisions are solely the responsibility of the reader.

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