Bitget Research Weekly News: SEC Lawsuit Sparks Market Panic, Meme Coin Lifecycle Significantly Shortened.

Source: Bitget Research

During the past week (6/5-6/9), there have been many new popular currencies and topics in the market.

1. Market Trends

This week (06.05-06.09), the most focused topics in the market are:

· The market volatility continues to decline, and the EU's cryptocurrency market law MiCA has been officially released.

· The market is sluggish and the lifecycle of meme coins is significantly shortened.· After BTC reached a key support level of $25300, it led the market to rebound, and the Optimism ecosystem showed relative strength.

· The SEC lawsuit triggered market panic, briefly extinguishing the enthusiasm for Meme coins amidst a pessimistic market sentiment.

· Mainstream assets are experiencing downward volatility, while certain MEME and new ERC protocols present some speculative opportunities.

2. 热门项目 Popular Projects

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2. Popular Projects

The most popular projects this week (06.05-06.09) are:

MXRC (Token): A BRC 20 project created by NFT OG Kol @atgoodm. During the Free Mint phase, the project experienced coin minting being hacked and stolen, which also affected some whitelisted users' ability to mint coins. The project received some FUD and currently has a market value of $1.338 million USD, with a 24-hour on-chain trading volume of $266,000 USD and 12,490 holders. Its popularity has further declined.

FERC (Token): ETH fair distribution concept, imitating Brc 20 Token. Today's price has rebounded, with a trading volume of 3.57 million US dollars in the past 24 hours and a 22.42% increase in the past six hours. There is a risk of contract expansion, and there are currently 5,554 holders. It is worth keeping an eye on.

RDNT (Token): KOL and OG trader Andrew Kang released an article today about Radiant, describing it as the king of the new currency market with impressive data performance. In the secondary market, RDNT has shown strong momentum, rising against the trend in a sluggish market with an 8% increase in the past 24 hours. Its current market value is $81 million with a trading volume of $38.56 million in the past 24 hours.

MATIC(Token): MATIC is currently facing significant legal risks. The SEC mentioned in the lawsuit against Binance that cryptocurrencies classified as securities include but are not limited to BNB, BUSD, and MATIC. On June 6th, a whale address transferred 115 million MATIC (approximately $95.22 million) to Binance.US, which is currently facing potential selling pressure.

USDT, USDC (Token): Recently, due to the SEC's crackdown on centralized trading platforms and the lawsuits against Binance and Coinbase, the stablecoin reserves of centralized trading platforms have seen a significant outflow, with a decrease of over $1.8 billion in the past three days. Despite Binance and Coinbase both stating that their customers' assets will be protected, they have been unable to prevent the outflow of assets. The outcome of the lawsuits will be closely watched.

Greenfieldtestnet (NFT): The new galxe task released by Polyhedra Network, a zero-knowledge proof concept project, has currently been minted by 52,367 addresses. Due to the project's financing of $25 million, it has garnered collective attention from airdrop hunters and has a high level of participation.

zkSync Era (Dapp): After the optimization upgrade on June 2nd, the gas fees for zksync era have been reduced compared to before. On June 7th, there was a delay in zksync withdrawals. After the correction, some congested cross-chain requests began to execute, and the data slightly increased.

Seaport (Dapp): Seaport is a new open-source Web3 marketplace protocol for secure and efficient buying and selling of NFTs. Seaport was first launched on Ethereum and is now also available on Polygon. This data is directly measured against the trading volume of Opensea. As the price of Blur tokens decreases and its popularity wanes, the frequency and volume of Blur transactions have also declined. The most obvious manifestation of this is the resurgence of Seaport gas consumption, which has surpassed that of Blur.

Stickman (Dapp): Stickman mint contract, Proof of Participation (POP) concept Token on BSC. $STIC can be minted for free, with each person able to mint 10 $STIC per second. Inviting a friend increases mining rate by 10 STIC/S, with no upper limit on mining rate. The contract has no apparent risks. Currently, there are 9,948 holders on the chain, and there is no liquidity pool on DEX. The project team will hold offline promotional meetings with a large number of participants.

3. Hot Searches

The most popular topics this week (06.05-06.09) are:

Binance (EVENT): On June 5th, the SEC sued Binance and CZ for violating US securities regulations. According to the SEC's charges against Binance and its CEO CZ, BNB and BUSD are listed as securities. From 12:00 AM to 9:00 AM today, Binance's net outflow of assets was $2.18 billion, accounting for approximately 4% of the platform's total assets ($54.33 billion).

Coinbase Stock: The SEC has filed a lawsuit against cryptocurrency exchange platform Coinbase in the New York Federal Court. Coinbase's stock price opened down 18%, hitting a new low since January 13, 2023. Cathie Wood's ARK fund added nearly 420,000 shares of Coinbase stock today, worth approximately $21.64 million.

ADA, MATIC (Token): In the SEC's lawsuit against Binance and Coinbase, there were related tokens that were illegally issued as securities. Due to rumors in the community that these tokens may be delisted from major trading platforms in the near future, it has caused selling pressure in the secondary market. The related tokens have experienced significant declines and increased volatility, creating trading opportunities.

Bitget Research Institute focuses on "focusing on on-chain data and mining valuable assets", mining cutting-edge value investments through real-time monitoring of on-chain data and regional hot searches, and providing institutional-level insights for cryptocurrency enthusiasts. As of now, it has provided Bitget global users with early value assets in multiple popular sections such as Arbitrum Ecology, AI Ecology, and SHIB Ecology, creating better wealth effects for Bitget global users through data-driven in-depth research.

【Disclaimer】The market is risky and investment requires caution. This article does not constitute investment advice. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific situation. Investing based on this article is at your own risk.

This article is from a submission and does not represent the views of BlockBeats.

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