Bitget Wallet Weekly Report｜13.Feb - 17.Feb

Despite the drop in market sentiment over the weekend, the Arbitrum concept token remained strong, with Bitget Wallet (Previously BitKeep)'s selection of $LIQD soaring as high as 188.09% for the day. In addition, the entire NFT sector was invigorated by $BLUR's launch, with tokens such as $BLUR,$COVAL, and $BEND performing much higher than the overall market gains for the week.

To help you best capitalize on these trending tokens at your earliest convenience, Bitget Wallet (Previously BitKeep) Swap has set up a special NFT area and an Arbitrum area. Feel free to explore these tokens and more on Bitget Wallet (Previously BitKeep).

All the assets listed in this article can be traded on Bitget Wallet (Previously BitKeep) Wallet. Bitget Wallet (Previously BitKeep) carefully selects certain premium assets and NFT projects for you every week based on our research data, and shares them with users to help you catch up with the latest information in a saturated market to assist you in expediently leveraging on market trends.

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 concept coin：

Liquid Finance($LIQD)

Liquid Finance ($LIQD) is a decentralized fractional reserve liquidity provisioning protocol on the #Arbitrum chain. LIQD is an agreement token whose value will eventually be stabilized by its ability to earn a share of the agreement's revenue in a pledged contract. LIQD will not be issued after the initial growth phase of the agreement and following the full pledge of the redemption pool.

Liquid Finance announced that they will stop $LIQD emissions in March and proceeds paid in ETH for staking $LIQD will continue. LIQD is the only project on the Arbitrum chain with a market cap below $1 million and is expected to grow significantly.

Relay Token($RELAY)

RELAY is a cross-chain bridge platform launched on the Arbitrum chain that will support lotteries, staking, and many other features in the future. RELAY allows us to move cryptocurrencies between blockchains with ease in a fast and secure manner, granting seamless cross-chain DeFi to the public.

RELSY allows traders to access multiple markets simultaneously by integrating cross-chain exchanges into popular DEX, CEX, dApps and wallets, and supports a frequently fragmented DeFi liquidity space. With a current market cap of just 3M and a liquidity pool of $266k, $RELAY's growth potential is virtually unlimited and can be expected to rise in value.

SolidLizard($SLIZ)

The derivative DEX on Arbitrum has been spiking recently. SLIZ is the only one on the Arbitrum chain that uses the Ve(3,3) model to allocate platform coins, and this model maximizes the benefits of $SLIZ. SLIZ holds a current market cap of around $2M, with TVL at over $20M and is still growing at an accelerated rate.

There are also 650,000 SLIZ in the LP pool with very good depth. The token economy of SLIZ is very impressive, and SLIZ liquidity mining will reward all tokens to veSLIZ LP with veSLIZ. In addition, the project owner will also buy back the circulating tokens regularly, which can greatly cut token circulation. There are many other advantages, including low slippage trading for stablecoins, reduced weekly release for mining, etc.

The current market uptrend is still in its nascent stages, especially considering how Arbitrum's fund is just starting to pour in. However, this model is likely to grow significantly, which will drive up the mining APR, thus further boosting the coin price.

Stargate Finance（$STG）

Stargate Finance is a liquidity transfer protocol for omnichains. Through Stargate, users and decentralized applications may transfer assets across chains while accessing the protocol's unified liquidity pool. Stargate Finance allows users to earn stablecoins through their farms in addition to liquidity pools. Users have the option to farm their LP tokens in exchange for STG rewards, which are then staked in exchange for veSTG, the platform's governance token.

With impressive features such as Stargate transfers, liquidity pools, income farming, staking, rebalancing fees and full-chain composability, Stargate Finance indeed stands out from other crypto projects.

The STG token replacement proposal has passed with flying colors and Binance announced support for the swap on March 15. Many users pledged STG for veSTG at the moment, however, this is illiquid. The independent wallet address of staked STG is between 70,000-75,000, and there are probably several million of them. In short, the market is currently able to circulate very little STG, which belies possibilities for the project to engage in pump and dump.

GAMEFI：

BinaryX($BNX)

BinaryX is the GameFi platform behind blockchain games CyberDragon and CyberChess, both of which are deployed on the BNB Chain. BNX's latest price is $174.56 and 24-hour trading volume is $35,033,578, up 52.69%% in the last week.

BNX is BinaryX's platform Token used for all activities in the BinaryX ecosystem, including in-game application scenarios and IGO incubation funds. According to the approved DAO proposal, $BNX will be split by a ratio of 1:100 at the end of February, and Binance has made an official announcement in support of BNX replacement and increment. This split of BNX is expected to lower the overall spending threshold and gain more new users.

In addition to Token splitting, the BinaryX team also proposed a plan to expand its game categories. BinaryX's plan for 2023 focuses on two separate angles: developing VR games and IGO. IGO's coins will be burned in the future and both areas have significant potential.

NFT：

Blur ($BLUR)

The $BLUR airdrop is the most influential airdrop of the year so far, and it has accordingly drawn the market's attention to the NFT segment and brought about a new surge in trading data volume. In terms of the buy and sell side of NFT trading platforms in the last three months, Blur ranked first with 33.68% share, leaping to become the largest NFT aggregation trading market on the chain at present, putting pressure on market leader OpenSea. According to Dune Analytics data, Blur's volume exceeded $200 million in the last three months, far exceeding similar NFT aggregators.

Blur is a new NFT trading marketplace and NFT aggregator that is currently live on BLUR's exchanges, including Coinbase, OKX, Bybit, Gate, MEXC, Kucoin, Bitget, Huobi, and Bitmart. In BLUR's AMA with Huobi, Blur's founders also revealed that Blur will be issuing its own NFT in the future, which everyone is very excited about.

Click to learn more about Blur：Blur’s Airdrop Launched! Here’s the Lowdown

Circuits of Value($COVAL)

Circuits of Value (COVAL) is an ethereum token that powers Emblem, a platform where users can create customized combinations of ETH, ERC-20, and NFT tokens into a tradeable token called a Vault, and COVAL can provide discounts on Vault purchases and serve as liquidity providers.

Emblem, a platform for multi-chain NFT creation and trading, has returned to the public eye due to the influence of the Blur offering and was recently roped in Coinbase's custody. In addition, in terms of trading pattern, COVAL has been consolidating at the bottom for a long time. One can only expect great things for COVAL's price in the market in time to come.

BendDAO($BEND)

Also influenced by Blur as a leader in NFT is $BEND. BendDAO is the first decentralized peer-to-peer pool-based NFT liquidity protocol and BEND is the governance token for BendDAO. Depositors provide ETH liquidity to the loan pool to earn interest, while borrowers can immediately use NFT as collateral to borrow ETH through the loan pool.

Bend designates both its funds and NFT in an open source smart contract that is verified and audited by a third party, ensuring that users can withdraw their funds at any time with maximum transparency. Bend demonstrates an ability to pay out its users even under extreme market conditions.

The debt market has been the missing link in the NFT ecosystem, and Bend fills the gap by providing a simple, efficient and secure way to lend, while supporting the liquidity of NFTs.

Conclusion:

Arbitrum is the head project of the Ethernet Layer 2 network and has received a lot of attention. Since Arbitrum has not yet issued a platform token, the Arbitrum concept token is the obvious choice. At this stage, there are already some application examples of DEX+Arbitrum and NFT+Arbitrum. Most of the projects currently deployed on Arbitrum are mainly DeFi, with most of them being decentralized track project derivatives, which are the same projects typically favored by venture capitalists - all the more to keep your eyes on them. Of course, Bitget Wallet (Previously BitKeep) will also be the first to share any market opportunities with our users.

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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.