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VIPBitget VIP Weekly Research InsightsIt's been nearly two months since the trend of celebrities and politicians launching memecoins began. During this period, liquidity in the Solana ecosystem almost dried up. Pump.fun, which once saw over 2000 successful launches landing on DEXs daily, hit a low of just slightly over 50 new projects per day, marking a drop of nearly 97%. During the two months, Pump.fun also rolled out its own DEX, Pump Swap, while major centralized exchanges (CEXs) accelerated their transition and put toward products combining spot and on-chain transactions. These offerings help bridge the liquidity gap between CEXs and on-chain trading, in order to capture opportunities in early-stage tokens' hype and drive a faster recovery in Solana's on-chain liquidity.
VIPBitget VIP Weekly Research InsightsThe unique value of Proof-of-Work (PoW) tokens lies in their mining mechanism and regulatory positioning. Research shows that mining costs are a defining feature of PoW tokens, involving significant investment in hardware and electricity. When market prices approach miners' breakeven points, miners tend to hold onto their coins in anticipation of future appreciation. This behavior reduces circulating supply, shifts the supply-demand balance, and may contribute to price increases. Regulatory clarity is also critical to the investment appeal of PoW tokens. Both BTC and LTC are classified as commodities by the U.S. SEC rather than securities, which simplifies the ETF approval process. In January 2024, the approval of the BTC spot ETF triggered significant institutional inflows. LTC is currently undergoing the ETF application process. While DOGE and KAS have not yet received formal classification, their PoW nature may position them for similar treatment. Together, these factors enhance market liquidity and attract more institutional investors.
- 14:50AR Breaks Through $6Market data shows that AR has surpassed $6 and is now trading at $6.01, with a 24-hour decline of 1.48%. The market is experiencing significant volatility, so please manage your risks accordingly.
- 14:50BTC Surpasses $105,500Market data shows that BTC has surpassed $105,500 and is now quoted at $105,501.53, with a 24-hour increase of 0.57%. The market is experiencing significant volatility, so please manage your risks accordingly.
- 14:31Analysis: KOGE Was Dumped First, Possibly Because ZKJ Has a Contract and Better Liquidity, Requiring More Capital to CrashAccording to analysis by @ai_9684xtpa, the main reason for dumping KOGE before ZKJ may be that ZKJ has contracts, allowing them to short on exchanges while simultaneously dumping on-chain. Additionally, from a liquidity perspective, ZKJ has better liquidity, so dumping it would require more capital.Both ZKJ and KOGE have extremely narrow LP ranges. If a large amount is dumped through these ranges and there isn’t enough capital to absorb the sell orders, a flash crash becomes inevitable. As LPs see the token price drop, panic selling may occur, creating a vicious cycle that drives the price down further. It is speculated that the continuous decline in Alpha trading volume over several days could be a trigger, and the massive exit of LPs is essentially a “race to the exit.”