Bitget Research Institute: BTC spot ETF ends 7 consecutive days of net outflow, AI sector rebounds strongly

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In the past 24 hours, many new hot currencies and topics have appeared in the market, and it is very likely that they will be the next opportunity to make money.

  • The sectors with strong wealth-creating effects are: AI sector;

  • The sectors that need to be focused on in the future: MEME sector;

  • Hot searched tokens and topics by users are: PalioAI, fantasy.top, Golem, RNDR;

  • Potential airdrop opportunities include: PalioAI, fantasy.top;

Data statistics time: May 6, 2024 4: 00 (UTC + 0)

1. Market environment

The 175,000 non-farm payrolls in the United States in April fell short of expectations, and the rise in unemployment data boosted the markets expectations for interest rate cuts. The BTC spot ETF ended its 7-day net outflow last Friday, with a net inflow of $378 million last Friday. BTC led the market to rebound. The ETH/BTC exchange rate fell below 0.05 again, and Grayscale ETHs negative premium rate was -24.78%. The market expects that the ETH spot ETF will most likely not be passed in May.

In the process of BTC driving the market rebound, the AI sector rebounded most significantly. The markets expectations for the release of ChatGPT-5 in June and the Apple Worldwide Developers Conference on June 10 are expected to boost the AI sector further.

2. Wealth-making sector

1) Sector changes: AI sector (AR, ARKM, WLD, RNDR, etc.)

main reason:

In the recent rebounds after the market fell, the AI sector rebounded strongly. Recently, there are many news events that can be hyped to stimulate the AI sector.

(a) Web2:

  • Market rumors say OpenAI may announce its ChatGPT search product on May 9 to compete with Google;

  • ChatGPT-5 may be officially released as early as June;

  • Apples Worldwide Developers Conference will begin on June 10;

(b) Web3:

  • Previously, the WorldCoin Foundation announced that it would launch the World Chain public chain based on , and there may be new progress in the next two months. Worldcoin developers are also trying to cooperate with PayPal and OpenAI;

  • In May, the Super AI Coin – ASI (the merged tokens are FET, AGIX, OCEAN) will be merged.

Rising situation:

AI sector tokens rose across the board. In the past 24 hours, WLD, LAI, PHB, OLAS, ARKM, AR, RNDR, FET, and AGIX rose by 13%, 20%, 18%, 16%, 15%, 12%, 11%, 10%, and 10%, respectively. Among altcoins, the AI sector has had a stronger rebound performance in the recent rebound after multiple declines.

Factors affecting the market outlook:

  • The markets confirmation of the truth of multiple OpenAI rumors and the performance of ChatGPT 5 after its release will directly determine the market popularity of AI;

  • Whether the cryptocurrency world can catch up with the multiple major events in the mainstream AI world and continue to launch favorable products and brands in line with the news will determine the sustainability of the rise of tokens in this sector.

2) The sectors that need to be focused on in the future: MEME sector

main reason:

In this round of market, many infrastructure projects with luxurious financing backgrounds have performed poorly after going online: Merlin, Parcl and other projects have fallen to the position of pre-market prices, and Meson Network has quickly fallen below 2 u a few days after TGE after completing the last round of financing with a valuation of 1 billion US dollars, which has fallen by 80% compared to the TGE Price of 10 u. The market is no longer keen on investing in VC Coins, but has focused more on the hype of meme coins. In the recent market decline, some meme coins have fallen to a more appropriate position. Traders who are optimistic about the meme sector can consider starting to collect relatively cheap chips and layout the next round of meme season.

Specific currency list:

  • WIF: A new generation of super-meme coins that have been listed on Binance and Robinhood. Its market value even exceeds that of OP and ARB. It has the potential to reach a market value of over 10 billion, similar to SHIB in the last bull market.

  • BOME: One of the representative tokens of the new round of Solana Meme Season. Currently, 50% of the chips are concentrated on Binance. When the next wave of Meme sector starts to be hyped, there is a high probability that it will break ATH again.

  • Other popular mid-range memes (such as MEW, MANEKI, etc.): MEW and MANEKI have distributed a large number of airdrops to Solana mobile phone holders. The generous airdrops have attracted the attention of funds in the Solana ecosystem. The current coin price has fallen by 54% and 67% from the high point. Traders who are optimistic that such tokens are expected to break through ATH again can choose to build positions at this time.

3. User Hot Searches

1) Popular Dapps

PalioAI:

PalioAI is an AI digital companion game supported by digital ownership launched by Xterio. Currently, the Points Odyssey event has been launched, and points can be redeemed for XterioGames ecosystem airdrops.

Yesterday, on-chain data showed that a large number of Ethereum chain users were minting PalioAI Gen 0 NFTs, indicating that users have begun to pay attention to the project and are preparing for subsequent airdrops. Previously, blockchain game publisher Xterio received a $15 million investment from Binance Labs to develop AI and Web3 game development capabilities.

2) Twitter

Bitget Research Institute: BTC spot ETF ends 7 consecutive days of net outflow, AI sector rebounds strongly

fantasy.top:

Blast Ecosystem SocialFi trading card game project fantasy.top announced the completion of the Pre-Seed round of financing, with Alliance, Manifold, Fabric Ventures, and 30 angel investors including Messari founder and CEO Ryan Selkis participating. The current financing amount and valuation data have not been disclosed. fantasy.top is a SocialFi collectible card game (TCG) where players can play online games using the collectible cards of crypto Twitter influencers, thereby monetizing their social capital and research expertise.

3) Google Search Region

From a global perspective:

Golem:

Among altcoins, the AI sector has shown a stronger rebound performance in the recent rebound after multiple declines. Currently, GLM, as the leader in AI track applications, has a high overall popularity, rising 6% in the past 24 hours. GLMs trading volume in the Korean local exchange Upbit in the past 24 hours was $232,630,207, ranking first, far exceeding BTC and other MEME tokens, etc., with a more obvious wealth effect, and a higher voice in the Korean region.

From the hot searches in each region:

(1) Yesterday, the hot searches in different regions of Asia showed strong differences, with no obvious characteristics or patterns. For example, in the Philippines, there were BICO, WEN, etc., while Indonesian users’ hot searches were ETHFI, MSTR, etc., and in India, ZKML, RWA, etc. were the main hot searches.

(2) European and American users show interest in AI: words such as RNDR, TAO, and node AI frequently appear in the search results of users in the English area.

(3) Latin American users pay attention to mainstream popular coins: FLOKI, LINK, SOLANA and other mainstream popular coins frequently appear in the search content of Latin American users, indicating that users in the region prefer mainstream assets in trading.

4. Potential Airdrop Opportunities

PalioAI

PalioAI is an AI digital companion game supported by digital ownership launched by Xterio. Currently, the Points Odyssey event has been launched, and points can be exchanged for XterioGames ecosystem airdrops. Recent on-chain data shows that a large number of Ethereum chain users are minting PalioAI Gen 0 NFTs, indicating that users have begun to pay attention to the project and are preparing for subsequent airdrops.

Previously, blockchain game publisher Xterio received a $15 million investment from Binance Labs to develop AI and Web3 game development capabilities.

How to participate: Open the official website and add the Xteriio network to your Web3 wallet. After transferring funds to Xteriio, go to the official page to claim the Paliio Egg. After the claim is successful, feed the Egg and you will get points for each click.

Fantasy.top

Fantasy.top is a SocialFi Trading Card Game (TCG) where players can monetize their social capital and research expertise by playing an online game using trading cards of crypto Twitter influencers.

Blast ecosystem SocialFi trading card game project fantasy.top announced the completion of the Pre-Seed round of financing, with Alliance, Manifold, Fabric Ventures, and 30 angel investors including Messari founder and CEO Ryan Selkis participating in the investment. The current financing amount and valuation data have not been disclosed.

How to participate: Open fantasy.top official website, transfer funds to Blast designated wallet through official method, and purchase cards to participate in the Tournament.

Original link: https://www.bitget.com/zh-CN/research/articles/12560603809177

【Disclaimer】The market is risky, so be cautious when investing. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions in this article are suitable for their specific circumstances. Investing based on this is at your own risk.

This article is sourced from the internet: Bitget Research Institute: BTC spot ETF ends 7 consecutive days of net outflow, AI sector rebounds strongly

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