BIT Blog

Analysts' Insights

Analysts' Insights

Not just Dogecoin pump...

👇 1) Dogecoin (DOGE) rallied +29% over the past seven days as Elon Musk changed the Twitter logo to the Shiba Inu dog, the face of Dogecoin. Musk has been a longtime supporter of the Dogecoin, periodically tweeting about the token, accepting Dogecoin as payment for some Tesla merchandise, and hinting at the token’s integration into Twitter as a payment system. Days before the logo change, attorneys of Twitter and Musk asked a judge to dismiss a $258 billion lawsuit from 2022 that accused Musk of Dogecoin price manipulation.

👇 2) Lido DAO (LDO) rallied +13% over the past seven days as investors prepare for the Shanghai upgrade next week. Currently, liquid staking protocols account for a third of the total staked ETH, with Lido leading the space with a 93.8% share. Recently, Lido released more information about the unstaking process, citing the use of NFTs to represent users’ requests for withdrawal of their stETH. The NFTs can then be used to claim ETH rewards, after which the NFTs are burned.

👇 3) Frax Share (FXS) rallied +12% over the past seven days as the protocol has also been benefitting from the anticipation around the Shanghai upgrade. Frax Share is currently one of the leading liquid staking protocols, with its TVL growing to $213m from $55m at the beginning of the year despite only recently launching post-Merge.

👇 4) Toncoin (TON) rallied +8% over the past seven days as Orb, a public blockchain infrastructure, announced the release of the single nominator smart contract for validators of the Telegram Open Network (TON).

👇 5) Aave (AAVE) rallied +8% over the past seven days as the community showed almost unanimous support in favour for the deployment of Aave’s latest version 3 onto the recently launched Polygon’s zkEVM and Binance’s BNB Chain.

👇 6) Chiliz (CHZ) rallied +8% over the past seven days upon the announcement that Chiliz is set to launch a new blockchain, the ‘Chiliz Sports Blockchain’ on May 10, although no specific features have been disclosed.

👇 7) Fantom (FTM) rallied +7% over the past seven days as the network announced the integration of crypto security firm De.Fi’s Web3 Defense Suite into the ecosystem.

👇 8) Synthetix (SNX) rallied +7% over the past seven days as the protocol launched its incentive campaign to attract more trading activity onto the platform. As part of the program, traders are rewarded based on criteria such as fees paid, volume generated and the amount of SNX staked.

👇 9) Ethereum (ETH) rallied +7% over the past seven days ahead of the much-anticipated Shanghai upgrade next week on April 12.

👇 10) Uniswap (UNI) rallied +6% over the past seven days as developers forked Uniswap after its Business Source License expired on April 1.

How are you positioned?

Join now for more insights around crypto!

Sign Up Now