Crypto Insights Weekly: Market Updates, Leading Coins, and NFT Highlights

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Dear Readers,

The cryptocurrency market exhibited relative stability, despite ongoing uncertainties surrounding the U.S. election and the SEC appeal. This steadiness was bolstered by increasing regulatory clarity in major global economies. Bitcoin (BTC) surpassed the $67,000 milestone, reaching a peak of $67,351, representing a modest increase of less than 1% over the past 24 hours. Other leading cryptocurrencies, such as Solana (SOL) and Binance Coin (BNB), also experienced price gains, while Ethereum (ETH) and Tether (USDT) saw slight declines. Notably, Goatseus Maximus (GOAT) and POPCAT (SOL) emerged as the top performers of the day. Overall, the global cryptocurrency market capitalization remained stable, recording a 0.6% increase to reach $2.32 trillion.

Highlights of The Week

• Bitwise's head of alpha strategies forecasts Bitcoin could reach $92,000 if Donald Trump wins the U.S. presidency in November.

• Denmark's Tax Law Council suggests a bill to tax unrealized gains and losses on crypto assets for investors starting as early as 2026.

•  Ripple CEO Brad Garlinghouse believes the company should have engaged with U.S. regulators earlier, as both Ripple and the crypto industry face legal challenges.

•  Uncertainty in UK cryptocurrency regulation makes it a less viable alternative for companies seeking relief from Europe's MiCA rules.

•  Denmark’s Tax Law Council proposes a bill to potentially tax unrealized crypto gains and losses, possibly starting in 2026.

Crypto Fear & Greed Index

The latest Crypto Fear & Greed Index shows a value of 69, marking a minor decrease from the previous day's score of 71. This subtle shift coincides with a period of relatively stable cryptocurrency prices, despite looming factors such as the upcoming U.S. elections, significant central bank decisions, and growing global acceptance of cryptocurrencies. The current sentiment suggests a reduced willingness among investors to engage actively in the market.

ATH Coins

Reaching an all-time high (ATH) represents a milestone of outstanding performance and growing interest in a cryptocurrency. However, despite this notable achievement, market volatility remains a critical factor. It is essential to conduct comprehensive research before investing in cryptocurrencies that have reached their ATH. Consider examining the latest top-performing coins that have recently attained new ATH levels.

WhiteBIT Coin (WBT), the native coin of one of Europe's largest cryptocurrency exchanges, reached its all-time high (ATH) of $18.46 on October 24, 2024, and currently trades at $18.36 with a volume of $6.65 million. WhiteBIT, established in 2018, now serves over 4 million users globally.

Act I: The AI Prophecy (ACT), a project exploring innovative AI interaction, hit an ATH of $0.07762 on the same day and is now trading at $0.06556 with a volume of $45.16 million.

Popcat (SOL) (POPCAT), a Solana-based memecoin featuring a short-haired domestic cat named “Oatmeal,” has reached an ATH of $1.67, with its current price at $1.64 and a trading volume of $202.66 million.

Binance Staked SOL (BNSOL), offering the flexibility to trade staked SOL with rewards, saw an ATH of $176.08 and is now priced at $174.72, with a volume of $6.24 million.

Tether Gold (XAUt), backed by a news of over $250 million worth of gold in a cryptocurrency wallet, reached an ATH of $2,817.58 on October 23, 2024, and currently trades at $2,740.05 with a volume of $9.64 million.

Top Movers (24H)

The increasing recognition of the cryptocurrency market as a credible investment option has encouraged former skeptics to enthusiastically incorporate digital assets into their portfolios. Simultaneously, seasoned crypto investors are reinforcing their holdings, contributing to substantial price hikes across several cryptocurrencies in the past 24 hours. Below is an overview of major cryptocurrencies that have seen significant price surges recently.

Currently priced at $0.0006867, Hana (HANA) has seen an increase of 62.26% in value, with a trading volume of $3.05 million. Hana is a decentralized meme coin focused on bridging the gap between traditional finance and blockchain technology. Through the use of chain abstraction, Hana enables seamless transactions across various blockchain networks, making it a versatile and promising solution in the evolving digital finance landscape.

DIMO (DIMO) is priced at $0.171, reflecting a 32.00% rise, with a trading volume of $4.31 million. DIMO empowers vehicle owners by allowing them to collect, utilize, and even monetize the data from their cars. Through its suite of applications, DIMO offers users a new way to engage with their vehicles, transforming them into more than just modes of transport by unlocking valuable insights and earning potential from the data they generate.

Swarm (BZZ) is currently valued at $0.3814, showing a 31.65% gain, and has a trading volume of $11.98 million. Swarm envisions itself as the backbone of a re-decentralized internet, providing a scalable and self-sustaining infrastructure for the future of the data economy. Its platform offers a robust supply-chain infrastructure for data, with a longer-term goal of becoming the operating system for the decentralized web, ensuring data sovereignty and efficiency in the digital economy.

With a price of $1.22 and a change of 28.99%, Validity (VAL) is traded at a volume of $3.54 million. The Validity ecosystem consists of two primary components: the Validity blockchain and the Validity Smartchain. These are used for various utilities such as Decentralized Identities (DID), Non-Fungible Tokens (NFTs), Social and Reputation Tokens, File Signing and Verification, and even Decentralized Elections and Voting. The broad scope of applications positions Validity as a comprehensive tool for both individual and institutional users.

Priced at $0.1332, Daddy Tate (DADDY) has experienced a 28.52% increase, with a trading volume of $9.26 million. The $DADDY token offers a bold and innovative approach to crypto education and investment. By promoting a rebellious mindset and unorthodox learning strategies, the project aims to help its users break free from traditional financial systems and achieve accelerated wealth growth. Daddy Tate seeks to inspire a new generation of investors through its unique approach to financial freedom.

Non-Fungible Tokens – Developments

• Magic Eden has launched a dedicated Berachain section, enabling users to explore Berachain NFT projects across blockchains like Arbitrum and Ethereum.

• Japanese brand Medicom Toy will release a limited edition NFT on Mint Blockchain, tied to their latest collectible, available on the RareShop platform starting October 25.

• North Korean Lazarus Group exploited a zero-day Chrome vulnerability using a fake NFT game to steal wallet credentials; Kaspersky Labs reported the issue in May, and Google has since resolved it.

NFTs To Watch (24H)

Pudgy Penguins recorded a volume of 198 ETH, marking a 112% increase in volume, with a floor price of 9.20 ETH and 22 sales. This collection of 8,888 NFTs is at the forefront of Web3 innovation, focusing on intellectual property (IP) utilization and community empowerment, with a message of love, empathy, and positivity.

Meanwhile, the Bored Ape Yacht Club saw 108 ETH in volume, reflecting an 80% increase. The floor price stands at 12.48 ETH with 9 sales. Comprising 10,000 unique NFTs, Bored Ape holders enjoy exclusive benefits, including access to members-only areas like a collaborative digital graffiti space THE BATHROOM.

The Mutant Ape Yacht Club registered 96 ETH in volume, up by 61%, with a floor price of 1.92 ETH and 47 sales. This collection includes up to 20,000 Mutant Apes, which can be created either by exposing a Bored Ape to Mutant Serum or through public minting.

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

Best Regards,
Crypto Recorder Team

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