Crypto Insights: Market Shifts, Top Tokens, and NFT News You Need to Know

Dear Readers,

On Thursday, the cryptocurrency market saw a significant boost, driven by U.S. core inflation data that slightly exceeded expectations. This development reduced the likelihood of a substantial rate cut by the Federal Reserve next week, leading to increased investor optimism.

Bitcoin surged by 2.57%, reaching $58,068, while Ethereum rose by 1.38%, hitting $2,355. Major cryptocurrencies followed suit with notable gains: BNB climbed 6.39%, Solana grew by 2.49%, Dogecoin advanced 1.89%, Toncoin was up 2.87%, Cardano soared 7.13%, and Shiba Inu increased by 1.14%.

 As a result, the global crypto market capitalization grew by 2.38%, reaching $2.04 trillion.

Highlights Of The Week

• Flowcarbon, co-founded by former WeWork CEO Adam Neumann, is refunding investors after the failed launch of its "Goddess Nature Token" (GNT).

•  Crypto and Bitcoin mining stocks have rebounded following an initial dip during the debate between U.S. presidential candidates Donald Trump and Kamala Harris.

•  The U.S. Commodity Futures Trading Commission, alongside a banking association and federal regulators, is issuing warnings about "pig butchering" crypto investment scams.

•  U.S. Bitcoin miner CleanSpark is acquiring seven cryptocurrency mining facilities and their land in Knoxville, Tennessee, increasing its hashrate by 22%.

• The UK government is introducing legislation to determine if Bitcoin and other cryptocurrencies can be classified as "personal property" under domestic law.

Crypto Fear & Greed Index

Even though the cryptocurrency market experienced a notable surge due to the U.S. core inflation data, the Fear and Greed Index has decreased from 37 to 31, indicating heightened fear among investors. This suggests that while there was a positive short-term reaction to the economic news, overall market sentiment remains cautious. The index reflects ongoing uncertainty and wariness, showing that despite recent gains, many investors are still concerned about the stability and sustainability of the market amidst broader economic conditions.

ATH Coins

An all-time high (ATH) signifies a cryptocurrency’s peak performance and increased attention. Even with this notable achievement, market volatility remains a significant factor. Thorough research is essential before investing in coins that have reached their ATH. Here’s a look at some of the recent top performers that have hit ATH levels.

Koala AI (KOKO), a Pepe-inspired meme token on the Solana blockchain, has recently achieved an all-time high (ATH) price of $0.054412 as of today. The current price stands slightly lower at $0.054143. With a trading volume of $2.58 million, KOKO aims to enhance community engagement and liquidity through secure trading practices and the elimination of buy/sell taxes.

On the Ethereum network, Cate (CATE) has reached an ATH price of $0.03058 today. The current price is $0.02722, and the token's trading volume has surged to $12.9 million. CATE, a memecoin that emerged from the Dogeverse, was inspired by a tweet from @ownthedoge, and is celebrated for its lively and dynamic community.

ZChains (ZCD) has achieved an ATH price of $0.2661 today. The current price is $0.262, with a trading volume of $13.58 million. The ZCD token is integral to the ZChains ecosystem, serving utility functions such as paying gas fees, staking, and earning block rewards.

Trump Harris Debate (THD) is the official memecoin celebrating the dramatic debate between Donald J. Trump and Kamala Harris on the Ethereum blockchain. With an ATH price of $0.1405 today and a current price of $0.1395, THD offers a unique opportunity to engage with this historical clash through crypto. The trading volume for THD is $1.36 million.

AI Companions (AIC) achieved an ATH price of $0.08203 yesterday. Currently, AIC is priced at $0.06766 with a trading volume of $4.63 million. This token is at the forefront of revolutionizing digital interactions by leveraging AI, VR, AR, and blockchain technology, allowing users to create and evolve personalized virtual companions.

Top Movers (24H)

As the cryptocurrency market gains increasing recognition as a serious investment option, former skeptics are eagerly embracing it, expanding their portfolios with a range of digital assets. Veteran crypto investors are also solidifying their holdings, leading to notable price surges in many cryptocurrencies over the past 24 hours. Let’s take a look at some major cryptocurrencies that have recently experienced significant price increases.

In the past 24 hours, UXLINK (UXLINK) has made a notable leap in the crypto market. The current price of UXLINK stands at $0.2954, marking a significant surge of 29.58%. With a trading volume of $196.61 million, UXLINK is carving a niche as a leading user-driven Web3 social platform. Its ambition to become a social DEX and build social infrastructure is driving its recent gains.

Polkastarter (POLS) has also experienced substantial growth, with its current price reaching $0.3938, an increase of 25.61%. The platform’s trading volume has hit $4.94 million. Polkastarter continues to be a pivotal decentralized fundraising platform, helping Web3 projects launch and raise funds through multi-chain token pools, all while fostering community expansion.

Tectum (TET) has soared by 23.63%, with its price now at $8.50. The current trading volume for Tectum stands at $1.47 million. Tectum distinguishes itself by utilizing a proprietary Proof-of-Utility (PoU) Consensus and an ultra-fast Network Protocol, as outlined in its white paper.

LinqAI (LNQ) has grown by 22.52%, bringing its price to $0.1736, with a trading volume of $2.55 million. LinqAI remains at the cutting edge of integrating innovative technology with practical business solutions, which is reflected in its recent performance.

Elastos (ELA) has increased by 22.02%, with its price now at $2.09 and a trading volume of $1.91 million. Elastos is transforming the blockchain landscape with its blockchain-powered internet version, particularly with the introduction of BeL2, a Layer 2 solution that enhances Bitcoin transactions through SmartWeb technology.

Non-Fungible Tokens – Developments

• X Empire, a tap-to-earn game on Telegram, is launching pre-market trading via custom NFT vouchers ahead of its token launch and airdrop.

•  CryptoPunk 2386, valued at approximately $3.2 million, was sold for about $23,000 due to a loophole, representing a 99% discount.

•  A UK Parliament bill proposes classifying cryptocurrency and NFTs as personal property under a new legal category. 

  NFTs To Watch (24H)

Mutant Ape Yacht Club

The Mutant Ape Yacht Club has seen a significant surge in trading activity, with a 108% increase in volume over the past 24 hours, reaching 231 ETH. This collection, which features up to 20,000 Mutant Apes, includes those created by exposing an existing Bored Ape to a vial of Mutant Serum or through a public mint. With a floor price of 2.099 ETH and 110 sales, the Mutant Ape Yacht Club continues to attract attention and maintain its prominence in the NFT space.

Lil Pudgys

In recent trading, the Lil Pudgys collection has experienced an 85% increase in volume, now totaling 31.1 ETH. This collection, consisting of 22,222 NFTs, is a notable extension of the Pudgy Penguins legacy. Each Lil Pudgy serves as a historic piece of the Pudgy Penguins story, with a current floor price of 0.8848 ETH and 31 sales contributing to its recent spike in activity.

Bored Ape Kennel Club

The Bored Ape Kennel Club has also seen an uptick, with a 70% increase in trading volume to 16.63 ETH. This unique collection of hand-drawn dogs, linked to the Bored Ape Yacht Club, offers distinct styles and additional benefits to its community. The floor price for these NFTs is currently 0.44 ETH, with 38 sales reflecting growing interest and engagement in the collection.

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

Best Regards,
Crypto Recorder Team

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