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Bitget Wallet Weekly Report|27.Mar- 31.Mar

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About this week

The Liquid Staking Derivatives (LSD) sector was undoubtedly the hot topic this week, with rumours that the SEC was looking to ban crypto pledge services for retail customers. In response to the news, the price of $LSD, the head project token in the LSD track, jumped 51% in the last 24 hours, sending shockwaves across the entire industry. With the looming Ethereum Shanghai upgrade, there is still plenty of room for imagination remaining in the LSD track, so do keep an eye on the emerging projects in this sector.

In the past week, a total of 31 new projects were added to our online database. The chart below shows the top performing projects in the past week and reflects the overall increase in the recent week.

Bitget Wallet Weekly  Report|27.Mar- 31.Mar image 0

The Bitget Wallet (Previously BitKeep) Institute continually searches for promising projects and showcases trending statistics to allow all Bitget Wallet (Previously BitKeep)ers to best capitalize on the hottest market trends. All projects mentioned in this article can be traded on the Bitget Wallet (Previously BitKeep) wallet.

LSD:

Liquid Staking Derivative($LSD)

Bitget Wallet Weekly  Report|27.Mar- 31.Mar image 1

Liquid Staking Derivative ($LSD) is an algorithm-based liquid pledge aggregator protocol and is also the first of its kind to leverage existing protocols in order to generate the highest APY in the most efficient and cost effective manner. Liquid Staking Derivative will go live on the MEXC exchange on April 7, with a network upgrade on April 12..... Let's see how they do after the Shanghai upgrade in April!

Lido DAO($LDO)

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$LDO is the governance token for Lido DAO, a decentralised liquidity pledge solution for users on Ethereum and other PoS chains such as Solana, Polygon, Polkadot and Kusama. As the leading project in the Etherum liquidity pledge subsector, $LDO allows users to pledge their ETH without having to lock up their assets or maintain infrastructure, while also participating in on-chain activities where users may deposit tokens and receive tradable liquid tokens in return.LDO is already available on major exchanges such as Uniswap, SushiSwap, 1inch, Hotbit, Bilaxy and Gate.io.

Frax Share($FXS)

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$FXS is the governance token of the Frax Protocol, and the Frax Finance community's proposal to "set the protocol's target collateralisation rate (CR) to 100%" was passed with 98.08% support, making FRAX a fully collateralised stablecoin. This will be beneficial to the long-term health and growth of the protocol.FRAX currently has 102,000 locked ETH with a total valuation of $180 million, ranking third amongst DeFi protocols. The locked ETH has since grown by 20% in the last 30 days, with a stable growth rate.

Rocket Pool($RPL)

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Rocket Pool is the second largest decentralised pledge protocol for Ethereum after Lido. It is up 199.86% in the last 3 months.
The current Ether beacon chain ETH pledge APR is at 5.22%, and the ETH pledge volume has exceeded 17.82 million. There are also over 550,000 verified nodes. As the leading project in the LSD track, $RPL is the first to rebound, with a significant amplification in trading volume, driving progress across the entire subsector.

Arbitrum:

Radiant Capital($RDNT)

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Radiant Capital is a decentralised cross-chain project of which $RDNT serves as the project's utility pass. It is distributed to users who provide utility to the platform, such as lenders, borrowers and RDNT/WETH liquidity providers. Users can use Radiant to seamlessly deposit and lend across multiple chains.
Radiant Capital (RDNT) migrated from the old contract to the new contract on a 1:1 basis and expanded to the BSC mainnet. Binance has since made an announcement that it will soon go live with RDNTand list RDNT/BTC, RDNT/USDT, RDNT/TUSD trading pairs.

Camelot Token($GRAIL)

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Camelot is an ecosystem-centric and community-driven DEX based on Arbitrum. $GRAIL is Camelot's native token and can be earned as a reward for earnings for incentivized pledged positions.
ARB airdrop pickup has now reached 87% and related concept projects were generally sold off significantly after the airdrop. Recently supported by the rebound, the chain continues to have large investors investing in $GRAIL, new Arbitrum ecological projects, developers, users, funds and other data to maintain growth. The follow-up DAO vault of the project token incentive can be expected in the future, and projects on the Arbitrum ecosystem will benefit from this development.

Other

Injective Protocol ($INJ) Keyword:BNB+Polygon+DEX

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DApps built on Injective are integrating on-chain FX functionality and going live with EUR tokens on the beta site to launch a seamless FX product.
The current stability of product iteration in the Injective ecosystem, high user expectations for the product, as well as the official announcement on March 29th declaring that the first global Injective Virtual Hackathon was open for registration with a global prize pool of up to $1 millionattracted the attention of developers and users. Excited by the news, $INJ rose 16.4% on the day. It is predicted that the project exhibits strong growth potential and the short-term price is expected to reach new highs, so do keep an eye on it.

Conflux ($CFX) Keyword:HK+BNB+DEX

Bitget Wallet Weekly  Report|27.Mar- 31.Mar image 8

The Conflux network is a smart contract platform with a native token $CFX that serves as a reward for network miners and serves as a way to pay transaction fees.
This week saw the first mid-positive breakout in ETH after half a month of declines and shocks, with $CFX paving the way as the leading coin in Hong Kong, rallying 18% on the day.
Hong Kong's support for cryptocurrency exchanges is in contrast to the strict regulations in the US, and the Hong Kong concept is becoming more and more popular with funds and capitals. The upcoming "Hong Kong Web3 Festival 2023" from April 12-15 will continue to bring further traction to the Hong Kong concept.

Conclusion:

As the Ethereum Shanghai upgrade approaches, more and more protocols are trying to join the ETH liquidity pledged derivatives (LSD) track. In addition to the general rise in LSD track projects, it is worth paying attention to the Ordinals concept. With Bitcoin's market cap being 2.3 times that of Ethereum, the market for Ordinals is at least as big as Ethereum NFTs, which translates to how Ordinals occupies a space similar to how Ethereum NFTs were like back in August 2018! With the launch of the Polygon zkEVM mainnet beta, and subsequent zkEVM networks including Starknet, Scroll, Taiko, etc., it is a track to keep an eye on, and Bitget Wallet (Previously BitKeep) will be the first to share the latest information with all Bitget Wallet (Previously BitKeep)ers.

Join Bitget Wallet (Previously BitKeep) English Official Telegram Group for more information: https://t.me/Bitkeep_New

Risk warning: Digital currency is a high-risk investment method. Investors are advised to purchase cautiously and pay attention to investment risks. Bitget Wallet (Previously BitKeep) will select high-quality currencies, but does not undertake guarantee, compensation and other responsibilities for investment behavior. Digital asset contract trading is an innovative product with high risks and strong professionalism. Please judge your investment ability rationally and make investment decisions prudently.

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