Bitget Wallet Weekly Report |22.May - 26.May

News

About this week

Hong Kong's recently introduced regulatory framework for cryptocurrencies will permit retail investors to engage in cryptocurrency trading from June 1. However, these regulations impose limitations on the types of tokens that can be traded and the services offered by exchanges. The price of Bitcoin ($BTC) has dipped below $27,000, and meme tokens are experiencing shorter periods of price surges. Nevertheless, the meme coin market showcases explosive coins like $MRF and $PLOUTΩS, which saw remarkable increases of 1428.27% and 5101.99% respectively in a single day.

In the past week, a total of 36 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 over the last week.

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The Bitget Wallet (Previously BitKeep) Academy continually sources for promising projects showcases trending projects, providing the most detailed information as soon as possible. All the projects mentioned in this article can be traded on the Bitget Wallet (Previously BitKeep) wallet. Bitget Wallet (Previously BitKeep) will select high-quality assets and NFT projects daily to share with Bitget Wallet (Previously BitKeep)ers, helping everyone easily capture market opportunities while obtaining the latest information.

AI Conception:

Driven by the highly anticipated release of Apple's MR (Mixed Reality) headset, Render Network ($RNDR) has experienced a surge of over 30% and reached a new all-time high. This can be attributed to the market's expectations surrounding Apple's entry into the metaverse space with its first dedicated product. As the initial Apple offering tailored specifically for the metaverse, market expectations are high.

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AI concept tokens:

  • Highstreet ($HIGH)
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According to recent reports, Apple is scheduled to host a special event at Apple Park on June 5, fueling speculations about the potential release of new AR/VR products.
The impact of this news was immediately visible in the market, as the price of $HIGH, Highstreet's token, experienced a rapid 20% increase within a 24-hour period. Furthermore, trading volume reached an impressive $56 million, reflecting a strong inclination towards speculation and indicating the market's confidence in the future prospects of the AR/VR sector.

  • OVR ($OVR)
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Speculations are circulating about Apple's upcoming product launch event on June 5th, where they are expected to unveil a new AR/VR product called Apple Reality Pro. Anticipation is high for these XR headphones, as they are rumored to be among the most advanced in the market.
At the same time, $OVR, a cryptocurrency associated with AR/VR experiences, has been running an App Store Giveaway event from May 22nd to June 9th. Their CEO is scheduled to speak at a conference on June 1st, adding to the overall excitement surrounding the project, leading to the remarkable growth of $OVR, topping the ranks of Coingecko Trending. It has experienced an impressive increase of over 150% in the past week and a notable 50% increase in the past 24 hours, reflecting the growing interest and investor confidence in the project.

  • AICODE($AICODE)

The AICODE community has voted in favor of a proposal to transition from an inflationary token to a deflationary token. With an overwhelming approval rate of 99.35%, this change will lead to a significant decrease in selling volume in the market.
Following the community vote, the price of $AICODE has surged by 40% in the past 24 hours, accompanied by a 60% increase in trading volume, reaching $5.77 million. The active engagement of the community and the project's positive response to their decision indicate growing optimism surrounding $AICODE's future.

MEME:

The meme craze appears to be winding down, with this week's soaring meme tokens experiencing shorter rallies compared to the ones seen in April. Amidst this trend, $PSYOP stands out as one of the wildest "bets" of this year's meme season.

memecoins:

  • BEN ($BEN)
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ben.eth initially received around 55 ETH through $BEN, but the market performance of $BEN was lackluster at first. However, things changed when influential community Key Opinion Leaders (KOLs) started promoting $BEN. On May 8th, Bitboy Armstrong (@Bitboy_Crypto), a KOL with over a million followers, suddenly endorsed $BEN, resulting in a significant surge. The price of $BEN has since skyrocketed, experiencing an astonishing increase of up to 200 times its original value.

  • Psyop ($PSYOP)

Following the success of $BEN, another token introduced by ben.eth was released. In its pre-sale, around 3800 ETH (equivalent to approximately $7 million USD) was raised as participants sent ETH to the ben.eth address. The launch of $PSYOP generated significant excitement, drawing considerable attention to its fundraising efforts. On its initial trading day, the token witnessed a trading volume of up to $32.68 million USD. The $PSYOP community has also displayed a high level of engagement and activity.

  • JesusCoin($JESUS)
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$JESUS is an Ethereum-based meme token with a unique focus on supporting Christian institutions, evangelism, and charitable initiatives. While the concept of a religious meme token is rare in the market, $JESUS has shown positive performance on the secondary market.
Nevertheless, it's important to acknowledge that the $JESUS token operates within a relatively small market, which may expose it to potential manipulation and price fluctuations. Furthermore, due to its specific targeting of the Christian community, the token's usage and market reach could be somewhat restricted.

Other:

  • GMD Protocol($GMD)
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GMD Launchpad has successfully introduced two consecutive popular projects, resulting in significant price surges. Their latest venture, Ghast, a leveraged protocol project, has exhibited strong upward momentum in token price, providing an opportunity for additional leveraged mining earnings within the protocol. Investors can generate actual profits by participating in token staking, protocol income, and additional launchpad voting mechanisms.

  • Hongkong sector

Hong Kong's recent implementation of new cryptocurrency trading regulations on June 1st has opened the doors for retail investors to participate in trading a restricted range of tokens. This development signifies a significant advancement in Asia's blockchain sector. Following the announcement, various Hong Kong-based tokens, such as $KEY, $CFX, $ACH, and $LINA, experienced notable price surges within 24 hours, with increases of 27%, 20%, 16%, and 13% respectively.

Conclusion:

As the meme frenzy subsides, meme tokens continue to present opportunities for short-term gains and high returns. However, it is important to recognize that both opportunities and risks exist, particularly during this period. It is crucial not to underestimate the risks associated with seeking high returns. Additionally, the upcoming Apple conference has the potential to ignite speculation in the token market, specifically within the metaverse theme. Notably, significant communities are actively deploying projects in this domain.Bitget Wallet (Previously BitKeep) will continue to provide up-to-date information to its users as new market hotspots emerge.

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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