Bitcoin Halving Countdown: Will the Market Bounce Back This Week?

Dear Readers,

In the midst of heightened geopolitical tensions between Iran and Israel, the cryptocurrency market experienced a downturn on Thursday, ahead of Bitcoin's much-anticipated halving event later this week. Bitcoin itself led the decline, falling 3.72% to trade at $61,204 in early trading. Ethereum, the second-largest cryptocurrency by market capitalization, also dipped by over 3.52% to $2,975.

The selling pressure extended to other major altcoins, including Solana, XRP, Dogecoin, Cardano, Shiba Inu, and Avalanche, which all witnessed declines ranging from 2.73% to 8.16%.

Highlights Of The Week

• Binance converts its Secure Asset Fund for Users (SAFU) into USD Coin, now holding 3% of the stablecoin's circulating supply.

• Virgil Griffith, ex-Ethereum developer, seeks sentence reduction for assisting North Korea with blockchain technology.

• Ernst & Young launches Ethereum-based solution using zero-knowledge proofs for private business contracts.

• Senator Elizabeth Warren addresses Treasury Secretary Janet Yellen on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT).

• Pi Network app surpasses 10 million users completing KYC process for identity verification.

• Kraken introduces self-custody wallet for digital assets, joining other major exchanges.

• Senators Gillibrand and Lummis propose legislation for regulating payment stablecoins.

• Worldcoin, led by OpenAI CEO Sam Altman, unveils World Chain, emphasizing a "human-centric" approach to Web3.

• Cyprus SEC extends suspension of FTX Europe's license until September 2024.

Crypto Fear & Greed Index

With Bitcoin halving on the horizon, the Crypto Fear and Greed Index is offering mixed signals. Although it currently sits at 57, indicating "greed," this is a significant decrease from both yesterday's "greed" of 67 and last week's "extreme greed" of 76. This trend could reflect some investor optimism about the halving's potential impact on prices, but also a growing worry that the recent correction might persist for a while longer.

ATH coins

Attaining its highest market value signifies a cryptocurrency's ascension to the esteemed status of an all-time high (ATH) coin. This reflects a significant increase in demand but does not guarantee sustained growth. Given the substantial volatility inherent in the digital currency market, meticulous research and analysis are imperative before contemplating investments in ATH coins. The following coins have emerged as exceptional performers, achieving noteworthy ATH milestones in recent times:

RunesBridge (RB), a leader in blockchain interoperability, takes the lead with a new peak of $0.31. This innovative project focuses on building bridges that connect different networks to the Bitcoin network. While the price has settled at $0.2868 currently, today's ATH marks a significant achievement for RB. Their daily trading volume sits at a healthy $1.88 million.

Following closely behind is BlackCardCoin (BCCOIN), the essential cryptocurrency for acquiring a BlackCard, a unique tool for spending and earning in the digital age. BCCOIN reached its ATH of $4.30 today. The current price is $4.24, with a daily trading volume of $5.79 million.

For those looking for a simpler way to navigate the DeFi world, BasedSwap (BSW) offers a solution. By combining funds from various decentralized exchanges on Base, BSW simplifies DeFi trading for users. Today, BSW reached its all-time high of $0.05075. The current price sits at $0.04286, and the daily trading volume is $724,933.44.

POGAI (Pogai), a lighthearted memecoin featuring panda people, also joined the celebration with its own ATH today. However, unlike the others, POGAI has since seen a substantial drop in price. While it reached a high of $0.001145, the current price is $0.00009354. Despite the dip, POGAI still boasts a noteworthy daily trading volume of $52.11 million.

Finally, the Ethereum-based meme token ANDY (ANDY) reached its all-time high of $0.0001504 today. The current price is $0.0001166, with a daily trading volume of $11.38 million.

Top Movers (24H)

As the cryptocurrency market continues to validate its reliability as an investment avenue, individuals who once approached it with caution are now embracing it eagerly, expanding their investment portfolios with a diverse array of digital assets. Furthermore, current crypto investors are solidifying their positions, driving significant price increases in multiple cryptocurrencies over the past 24 hours. Let's scrutinize some familiar cryptocurrencies that have recently experienced substantial price surges.

Ponke (PONKE) is a shining star in the cryptocurrency market today, experiencing a phenomenal 40.35% surge in the last 24 hours. Its current price sits at $0.1591, with a trading volume of $29.49 million. Built on the Solana blockchain, renowned for its speed and affordability, Ponke positions itself as a ground-breaking digital asset.

Aavegotchi (GHST) is another cryptocurrency making significant strides, boasting a price increase of 26.10% over the past day. Currently priced at $2.17, it has a trading volume of $67.49 million. GHST serves as the governance token for the Aavegotchi NFT gaming protocol, granting voting rights to holders within the AavegotchiDAO. This DAO oversees various aspects including the protocol itself, the Gotchiverse game, and Aavegotchi NFTs.

Polkacity (POLC) is joining the upward trend with a 21.60% price increase in the last 24 hours. Its current price is $0.01841, with a trading volume of $2.78 million. Polkacity has ambitious goals to revolutionize virtual asset ownership by building a first-of-its-kind 3D and AR NFT marketplace that will be accessible across multiple blockchains.

Bluzelle (BLZ) is also showing strong gains, with its price soaring by 20.04% in the last day. Currently priced at $0.4105, it has a trading volume of $37.81 million. Bluzelle operates as a decentralized storage network designed for the creator economy. It offers high security, exceptional availability, and is resistant to censorship.

StreamCoin (STRM) rounds out the list of top movers with a respectable 17.18% price increase over the past 24 hours. Its current price is $0.003599, with a trading volume of $4.72 million. StreamCoin is a utility token powering an ecosystem of NFT and streaming-focused applications. StreamCoin aims to bridge the gap between Web2 and Web3, providing multi-purpose utilities tailored for all users around the globe.

Non-Fungible Tokens – Developments

• Yuga Labs sells intellectual property for HV-MTL and Legends of the Mara games, aiming to refocus the organization behind NFT collection Bored Ape Yacht Club (BAYC).

• Magic Eden, a Solana-based NFT marketplace, surpasses industry leader Blur in March trading volume, hitting $756.5 million.

• STEPN partners with Adidas to launch exclusive NFT sneaker collection, STEPN x adidas Genesis Sneakers, on Solana blockchain.

NFTs To Watch

Pudgy Penguins

The adorable Pudgy Penguins, a collection of 8,888 NFTs known for their positive vibes and community focus, saw a massive surge in trading activity over the past 24 hours. Their trading volume skyrocketed by 168%, reaching a total of 849 ETH. The floor price currently sits at 10.35 ETH, and there were 84 sales in the last day. Pudgy Penguins is a project that emphasizes IP utilization and community empowerment, aiming to spread love, empathy, and compassion.

Milady Maker

Milady Maker, a collection featuring 10,000 generative pfpNFTs with a neochibi aesthetic inspired by street style tribes, also experienced a significant rise in trading volume. Over the last 24 hours, their volume jumped by 52%, reaching 589 ETH. The current floor price for a Milady Maker NFT is 4.6866 ETH, and there were 138 sales recorded in the last day.

Parallel Avatars

Parallel Avatars, a collection of unique characters launched in June 2023 on the Ethereum blockchain, witnessed a remarkable surge in trading activity. Over the past day, their volume soared by an impressive 297%, reaching 43.89 ETH. The current floor price for a Parallel Avatar is 0.898 ETH, and there were 57 sales in the last day. These Avatars represent a unique aspect within the existing 5 Factions of the Parallel ecosystem. 

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

Best Regards,
Crypto Recorder Team

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