Bitget Wallet Weekly Report｜20.Feb - 24.Feb
As a result of Hong Kong's favourable policy stance on crypto on Monday night, the market sentiment this work has continued to remain generally strong. Bitget Wallet (Previously BitKeep) has taken the initiative to launch the Hong Kong concept zone for all its users ever since, supporting multiple Hong Kong-based tokens such as $MASK, $SAND, $FIL$TVK, and more. The HongKong concept token $ACH, which is a key recommendation of the Bitget Wallet (Previously BitKeep) Research Institute, is up 70% overall since its recommendation. In addition, due to the surge of Arbitrum ecosystem in the early stage, its derivative DEX tokens also rallied. The ARB+DEX combination tokens selected by Bitget Wallet (Previously BitKeep) this week all performed very well, with $OREO up 133.09% in the recent week, and $ZYB, $MMT and other tokens also performing well above the market average.
This week, Bitget Wallet (Previously BitKeep)Swap launched the Hong Kong zone and ZK (ZeroKnowledge) zone to help you capture the market hotspots and select quality projects for your trading convenience. More tokens and real-time hotspots are also available on Bitget Wallet (Previously BitKeep).
Next, we will analyze these assets through project analysis, conduct deep dive comparisons of their project backgrounds, discuss price advantages, and evaluate overall potential based on data and conclusions provided by the Institute.
All the projects mentioned in this article can be traded on the Bitget Wallet (Previously BitKeep) wallet. Bitget Wallet (Previously BitKeep) will carefully select quality assets and NFT projects for you to share with Bitget Wallet (Previously BitKeep)ers every day to help you get the latest information easily and capitalize on market trends at your earliest convenience.
All information in this article should not be construed as trading advice and is for educational purposes only. Please make judgments based on your own circumstances.
Arbitrum+DEX concept coin：
Zyberswap is one of the first decentralized exchanges (DEX) with an automated market maker (AMM) on the Arbitrum blockchain, and its Staking and Yield Farming rewards are the most lucrative in the entire Arbitrum ecosystem.
Via its token model, Zyberswap plans to use more than 85% of $ZYB to incentivize users to make LPs. Currently, the annualized returns of both ZYB-USDC and ZYB-ETH pools are still more than 1400%, and the project's TVL is rising rapidly due to the ongoing incentive policy. The rapidly rising TVL is consequently also quickly driving up the price of $ZYB.
The project's TVL has now reached $1.7 million and ranks the second place in the ARB ecosystem right after GMX, and its total value in terms of TVL stands at around $170 million. Its TVL has increased by 100% in the last 7 days and by 886x in the last 30 days. The TVL spike is probably due to the impressive native token rewards offered by the protocol, with some pools offering over 1000% APR mainly through the emission of $ZYB.
Zyberswap has also officially announced a partnership with Axelar, a well-known cross-chain bridge project, to develop cross-chain swap features. Its Launchpad feature has also been updated and further bolstered by the positive performance of the Arbitrum ecosystem. $ZYB prices continue to be bullish.
AlienFi is a decentralized exchange (DEX) built on the Arbitrum chain. AlienFi offers fast, cheap and secure trading of DeFi assets on the Arbitrum network, combining multiple popular concepts such as DeFi, NFT , Pledge, Farm, DAO, and Meta-Universe.
AlienFi focuses on token adoption and increasing total value lock-in (TVL) on the platform. There is no maximum supply of $ALIEN tokens and to ensure control over the number of tokens and price, AlienFi has implemented a system for minting and burning $ALIEN, which is also responsible for the emission and distribution of $ALIEN.
Within 11 hours of its release, $ALIEN climbed to the Top 3 DEX project on Arbitrum in terms of 24-hour trading volume, with an extremely vibrant community. Within the last 24 hours (cutoff time February 24, 2023), $20 million TVL has been locked in! It is evident that the market is extremely favourable for Alien. AlienFi, with a current market cap of only $5 million, is likely to displace Pancakeswap as the next DEX monster.
The latest price of OreoSwap($OREO) is $0.4455 with a 24 hour trading volume of $54.4, gaining 47.42% over the last week.
OreoSwap is the first DeFi platform to offer automated market making (AMM) and NFT farming on the Arbitrum blockchain network. OreoSwap offers a full range of decentralized financial services: DEX (exchange), staking, and liquidity pools. OreoSwap also has many unique features such as DEX smart trading, NFT integration and DAO governance that redefines the DeFi experience for users.
OreoPad has completed its IDO as part of the OreoSwap ecosystem and is about to go live, and with the native token $OREO just undergoing a round of burning this month, the short-term price trend remains bullish.
HongKong concept coin：
Alchemy Pay, the crypto payment infrastructure with adaptability, is gaining attention again this week as a result of the macroeconomic conditions in Hong Kong.
Alchemy Pay officially announced a collaboration with Google Pay to being buying cryptocurrencies in fiat currency, which can greatly open up the access to Web3 finance and USD assets, as well as support Alchemy Pay's primary business in a significant way. Their twitter announcement gained over 25,000 views within the first hour, generating discussions and likes from the community. Its native token $ACH rose 30%+ on the same day, trading at 2.5 times the volume and with positive market sentiment. In addition, Conflux Network also announced its integration with Alchemy Pay, supporting the purchase of cryptocurrencies using fiat.
This week, Hong Kong concept projects have generally risen steadily, and in tandem with the optimism of Hong Kong policies and the landing of new projects, Alchemy Pay will surely continue to receive market attention as the leading decentralized digital currency payment provider in Asia Pacific.
Wombat Exchange is a native multi-chain stablecoin exchange protocol based on BNB Chain, providing users with the best exchange rates and a seamless exchange experience. As a project with 46 million TVL, Wombat currently has a circulating market cap of only $8 million, more so with BNB Chain's Curve fork claim.
WombatExchange ($WOM) has also received investment from two top Hong Kong institutions, Animocabrands and GSRVentures. At present, $WOM has a market cap of less than $1M and has issued coins but is not yet on Coinan. According to the community, $WOM has a new CEX plan in Q2, clearly making it worthy of attention.
DEXTF is a protocol that connects peer-to-peer investors with portfolio managers. $DEXTF is a hybrid token that combines the features of several different DeFi programs: yield, derivatives, synthetic products, options, and more. The latest price of $DEXTF is $0.2327, up 274.07% over the past week. Its current trading volume is at levels not seen since 2021 and the token price has exploded 30x in the short term.
The news of their Deutsche Bank partnership was a watershed moment as well. For a token partnered with a $24 billion bank, $DEXTF is now at a severely undervalued state with a market cap of only about $4.2 million.
Although DEXTF is relevantly speculative, its project has withstood the test of time with data dating back to 2020. Many people have already researched the project in depth, making it fairly reliable and trustworthy. Coupled with the chart, it is very stable and in an upward trend. You may keep following it as it is expected to rally further.
Roseon Finance is a hybrid solution that bridges decentralized (DeFi) and centralized financial services (CeFi).
$ROSN will soon migrate from BSC to Arbitrum and launch their own derivatives exchange. $ROSN is already live on several exchanges such as Kucoin, MEXC, Gate, and aggregates SushiSwap, GMX Pool. It is a great entry point with a current market cap of $2 million.
From the plate, it seems that the chart has been gaining momentum recently, with a bottom release and active trading that tabulates at around $920,000 in just 24 hours. With Arbitrum on a golden uptrend, $ROSN's impending migration to Arbitrum and name change to $ROSX has likely led to its rally.
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The behavioural pattern of the L2 track has been largely revolutionized ever since OP and Arbitrum came online. With Arbitrum's TVL clinching the Top 1 spot of the L2 track, Arbitrum is likely to continue to lead Layer2s in the future market if everything goes well.
With the success of the derivative DEX on Arbitrum, the derivative DEX on OP also has room for speculation. As the two leading players of the L2 track, Arb's recent explosion has placed great pressure on OP to keep up. Bitget Wallet (Previously BitKeep) will also be the first to set up a special zone to share the latest information with all Bitget Wallet (Previously BitKeep)ers.
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.