Bitcoin Battles Back After Mt. Gox Jitters, But Fear Lingers

Dear Readers,

Today, the cryptocurrency market is characterized by uncertain momentum, capturing substantial investor interest. Bitcoin (BTC) has reversed its recent gains, settling at $58,000. The overall global cryptocurrency market cap has declined by 0.37%, now standing at $2.14 trillion. BTC's price has fallen by 1.08% in the past 24 hours, reaching $58,068. In contrast, Ethereum (ETH) has managed to maintain its position above $3,000, with its price experiencing a 0.89% increase to $3,115.

Highlights Of The Week

• Terraform Labs, a bankrupt crypto company, plans to sell four businesses as part of a $4.5 billion agreement with the U.S. securities regulator, leading to its shutdown.

• A Texas jury acquitted the manager of a Marathon Digital mining site near Granbury, Texas, of 12 noise violation charges after complaints from residents.

• The U.S. Department of Justice announced that the cryptocurrency exchange BitMEX admitted to violating the Bank Secrecy Act by lacking a proper Anti-Money Laundering program.

• Lithuania's Financial Crime Investigation Service fined crypto payment company Payeer 9.29 million euros (about $10 million) for breaking Anti-Money Laundering rules and enabling transactions with sanctioned banks.

• Goldman Sachs is set to launch three new tokenization products in the U.S. and Europe later this year due to increased client interest in cryptocurrency, as reported by Fortune.

Crypto Fear & Greed Index

The Bitcoin Fear and Greed Index has plunged to 27 recently, its lowest level since early 2023, indicating significant investor fear. This stands in stark contrast to the bullish sentiment earlier this year when Bitcoin prices hit record highs. The recent downturn is attributed to several factors, including the Mt. Gox repayment plan releasing $2 billion in Bitcoin, government sell-offs of seized Bitcoin, and speculation of prices falling below $50,000. As of today, July 11th, 2024, the index has inched up slightly to 29 but still remains firmly in "Fear" territory.

ATH coins

Attaining an all-time high (ATH) showcases a cryptocurrency's prominence, suggesting a strong surge in demand. Nevertheless, volatility is a core characteristic of this market. Extensive research is vital before making investments in ATH coins. Here are some recent top performers reaching ATH milestones.

Fasttoken (FTN), the native currency of the Bahamut blockchain, reached an all-time high of $2.35 today, July 11th, 2024. Bahamut is a public EVM-based layer 1 solution with a unique Proof of Stake and Activity (PoSA) consensus mechanism. FTN fuels the Bahamut ecosystem, acting as the gas unit for transactions, staking, block creation, and validation, and even facilitating cross-chain operations. The current trading volume for FTN sits at a healthy $40.25 million.

Today also marks a record high for APF coin (APFC) at $0.5498. APFC is a cryptocurrency designed to provide a secure, efficient, and transparent platform for digital transactions. Built on blockchain technology, APFC aims to create a decentralized financial ecosystem with features like low transaction fees, fast processing times, and robust security measures. While the current price remains at its peak, the daily trading volume for APFC is $1.43 million.

Foxsy AI (FOXSY) joined the list of achievers today, reaching a new all-time high of $0.1159. The project envisions a future where artificial intelligence and robotics are seamlessly integrated into society's fabric. Despite a slight dip to $0.1097, FOXSY still celebrates its milestone. The current trading volume for FOXSY sits at $1.36 million.

Kernel (KERN) reached its all-time high of $4.12 yesterday, July 10th, 2024. The price remains near its peak at $4.05 today, indicating continued investor confidence. Kernel Protocol is known for introducing liquid restaking for Karak. This allows users to deposit various assets and mint different digital representations like krETH, ksETH, and kUSD. The current trading volume for KERN is $252,730.93.

The Sabai Protocol (SABAI) reached its all-time high of $0.06693 a day earlier, on July 10th, 2024. The protocol offers a solution for tokenizing real-world assets and virtual assets using its own set of secure smart contracts that have been audited by Certik. While the current price sits at $0.062, SABAI still marks its achievement. The daily trading volume for SABAI is $1.14 million.

Top Movers (24H)

As the cryptocurrency market continues to prove itself as a solid investment platform, former doubters are now adopting it, expanding their portfolios with a mix of digital assets. At the same time, experienced crypto investors are bolstering their holdings, driving substantial price gains across several cryptocurrencies in the past day. Let's review a few well-known cryptocurrencies that have recently experienced significant price jumps.

BitDAO (BIT) is experiencing a meteoric rise, surging an impressive 93.65% in the last 24 hours. Currently priced at $1.31, its trading volume sits at $3.63 million. This decentralized autonomous organization (DAO) aims to create a level playing field for everyone globally through a decentralized token economy.

ALEX Lab (ALEX) is not far behind BitDAO in terms of gains. The comprehensive DeFi platform built on the Bitcoin blockchain has soared by 82.19% in the past day. Its current price is $0.1441, with a trading volume of $53.65 million. ALEX Lab leverages the capabilities of Stacks, a protocol that enables smart contracts and decentralized applications (DApps) on Bitcoin, to offer a wide range of DeFi services.

Big Data Protocol (BDP) The Big Data Protocol (BDP) token, which fuels a marketplace for commercially valuable data, has jumped an impressive 71.24% in the last 24 hours. Currently priced at $0.2345, BDP has a trading volume of $2.64 million. This significant price increase indicates potential for growth in the area of blockchain-powered data marketplaces.

Friend.tech (FRIEND), a decentralized social media platform, has witnessed a surge of 56.54% in the past day. Its current price is $0.47, with a trading volume of $1.09 million. Friend.tech leverages blockchain technology to create a secure and transparent environment for users to connect and share content.

Ultra (UOS), a publishing platform for video games and content, has also experienced a positive day, rising 17.44% in the last 24 hours. Its current price sits at $0.1199, with a trading volume of $5.83 million. Ultra aims to disrupt the current dominance of platforms like Steam by providing new opportunities for game developers, players, and influencers.

Non-Fungible Tokens – Developments

1. OKX Wallet is now supported by Paras, a top NFT marketplace on the NEAR protocol, allowing the OKX Web3 community to easily connect and engage with digital collectibles and NFTs.
   

2. COLLE AI announced the launch of its new mobile app for creating and trading NFTs on the go, making it easier for artists and collectors to interact with the NFT market anytime, anywhere.
   

3. Cardano ($ADA) has introduced Plutus script validation of CIP25 metadata, enhancing NFT and AMM functionality within its ecosystem, as announced by Sebastien Guillemot, Co-founder of Paima Studios.

NFTs To Watch (24H)

Mocaverse

Mocaverse, the Animoca Brands membership NFT collection, is experiencing a surge in popularity with a whopping 196% increase in trading volume over the past 24 hours. This translates to 439 ETH worth of Mocaverse NFTs being traded. The current floor price for a Moca NFT sits at 2.279 ETH, and there have been 178 sales in the last day. Mocaverse features 8,888 unique beings called Mocas divided into five tribes: Angels, Builders, Dreamers, Connectors, and Neo-Capitalists.

Mutant Ape Yacht Club

The MUTANT APE YACHT CLUB is another NFT collection seeing a significant rise in activity. Its trading volume jumped 99% in the last 24 hours, reaching 82.87 ETH. This collection consists of up to 20,000 Mutant Apes, obtainable either by exposing a Bored Ape to a MUTANT SERUM or through public minting. The current floor price for a Mutant Ape NFT is 1.82 ETH, with 41 sales recorded in the past day.

Pudgy Penguins

Pudgy Penguins, a collection of 8,888 adorable penguin NFTs, has seen a 47% increase in trading volume over the past 24 hours, amounting to 75.94 ETH. These penguins are known for promoting positivity and community within the Web3 space. The current floor price for a Pudgy Penguin NFT is the highest among the three at 11.34 ETH, though only 7 sales were recorded in the last day.

That's it for today. Thanks for reading. Good luck out there!

Best Regards,
Crypto Recorder Team

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