Crypto Market Update: Pullback Today, But Weekly News Offers Bright Spots

Dear Readers,

The crypto market is experiencing a pullback today after the strong rally seen yesterday. Major cryptocurrencies like Bitcoin and Ethereum are currently trading in the red, causing some investor concern. Bitcoin, which reached a high of nearly $64,000 yesterday, has now declined by 1.09% to $62,919. Ethereum, the second-largest cryptocurrency, has seen an even steeper drop of 1.52%, trading at $2,686.

Highlights Of The Week

• New Zealand's Minister of Revenue proposed implementing the OECD's crypto-reporting framework.

•  BlackRock’s Bitcoin ETF saw its largest daily net inflow in 35 days after Bitcoin dipped below $64,000.

•  The SEC charged two brothers for running a $60 million crypto Ponzi scheme involving a fake trading bot.

•  Coinbase's layer-2 network Base surpassed 1 million daily active addresses, reaching a peak of 1.05 million.

•  PayPal’s US dollar-pegged stablecoin, PayPal USD, crossed $1 billion in total market capitalization.

Top Weekly Gainers

In the rapidly shifting and unpredictable world of cryptocurrency, seasoned traders possess a keen ability to identify Top Weekly Gainers with strong growth potential. By remaining vigilant and consistently tracking market trends and price movements, investors can seize these opportunities, potentially refining their investment strategies for maximum returns.

Fellaz (FLZ) has made significant strides in the crypto market, surging by an 69.15% in the last seven days. Currently priced at $2.76, with a trading volume of $5.37 million, this Singapore-based multi-chain web3 entertainment ecosystem is transforming the metaverse landscape. By offering NFT solutions, decentralized fandom infrastructure, and metaverse content production in collaboration with global experts, Fellaz is at the forefront of the web3 revolution.

Artificial Superintelligence Alliance (FET) has experienced a surge of 53.87% over the past week, with its current price standing at $1.39 and a trading volume of $335.62 million. This cutting-edge AI lab is pioneering the development of an open, permissionless, decentralized machine learning network integrated with a crypto economy, positioning itself as a leader in the artificial intelligence and blockchain convergence.

Render (RENDER) has seen a notable increase of 30.28% in its value over the last seven days, now priced at $6.06 with a trading volume of $112.08 million. As the leading provider of decentralized GPU-based rendering solutions, Render is revolutionizing the digital creation process, offering unparalleled efficiency and scalability to artists, studios, and developers worldwide.

Fantom (FTM) has risen by 27.04% in the past week, currently valued at $0.4936 with a trading volume of $117.16 million. Known for its directed acyclic graph (DAG) smart contract platform, Fantom provides decentralized finance (DeFi) services with its own bespoke consensus algorithm, making it a standout in the DeFi space for developers.

FLOKI (FLOKI) has grown by 26.86% in the last seven days, with a current price of $0.0001552 and a trading volume of $310.41 million. Birthed by fans and members of the Shiba Inu community and inspired by Elon Musk’s Shiba Inu, FLOKI has become the people’s cryptocurrency and serves as the utility token of the Floki Ecosystem, symbolizing the strong community-driven movement behind it.

Top Weekly Losers

The cryptocurrency market is in a constant state of flux, with weekly stories of victories and setbacks emerging. Among these, the Top Weekly Losers highlight the challenges of dealing with regulatory changes, market volatility, and intense media attention. However, these challenges also present traders and investors with a crucial chance to reassess their strategies and aim for future success.

Router Protocol (ROUTE) has experienced a dramatic decline of 95.85% over the past seven days, currently trading at $0.0887 with a volume of $149,275. As a cross-chain liquidity aggregator platform, Router Protocol was designed to seamlessly provide bridging infrastructure between existing and emerging Layer 1 and Layer 2 blockchain solutions.

Pixelverse (PIXFI) has seen a decrease of 29.86% in the last week, with its current price at $0.007701 and a trading volume of $15.41 million. This game ecosystem integrates third-party developers, intellectual properties, and its own projects, offering a cyberpunk-themed game accessible on both Telegram and web browsers.

DOSE (DOSE) has sunk by 20.67% over the past seven days, now priced at $0.000162 with a trading volume of $2.05 million. Serving as the native currency of the OliveX ecosystem, DOSE is earned through workout-based gameplay within OliveX's applications. It is utilized to unlock in-game items and modes, purchase NFTs, and participate in special events.

Notcoin (NOT) has decreased by 18.61% in the last week, currently valued at $0.008853 with a substantial trading volume of 269.73 million. The price plunge follows reports that Telegram founder and CEO Pavel Durov is facing 12 serious criminal charges, which have significantly shaken investor confidence.

Toncoin (TON)has plunged by 20.39% over the past seven days, with its current price at $5.45 and a trading volume of $941.64 million. The decline comes after reports that Pavel Durov, the founder of Telegram, was reportedly taken into custody at a Paris airport on suspicion of failing to prevent the criminal use of the platform.

Hot ICOs To Watch

Active ICOs

Zephyr

Launched on August 19, Zephyr is currently the world’s first prediction market built on the Solana blockchain. With a fundraising total of $200K across two rounds, this innovative project is rapidly gaining attention. The sale is set to conclude on August 27, so there's still time to get involved in this groundbreaking venture.

Conduit

Since its sale began on June 25, Conduit has raised $44 million across three rounds. This crypto infrastructure platform simplifies the deployment of production-grade OP Chains—rollups that are built on the Optimistic Ethereum protocol. By handling scalability, reliability, and upgrade challenges, Conduit allows developers to focus on building without the operational burdens.

Symbiotic

Symbiotic, which started its sale on June 11, has secured $5.8 million in two rounds of fundraising. This platform offers a generalized shared security system that empowers decentralized networks to create robust, fully sovereign ecosystems. Symbiotic’s approach is designed to help networks achieve autonomy and strength from the ground up.

Upcoming ICOs

RepoSwap

Set to launch its IDO on Spores from September 9 to September 11, RepoSwap aims to raise $100K. This revolutionary DeFi platform is designed to simplify token launches, enhance liquidity provision, and empower community governance, making it a promising player in the decentralized finance space.

CratD2C

CratD2C’s sale is scheduled to start on September 30, 2024, following fundraising rounds that have already brought in $340K. As a pioneering platform, CratD2C integrates Delegated Proof of Stake (DPoS) with Layer-1 architecture to set new benchmarks in security, speed, and scalability within the blockchain industry.

Plena

Expected to launch in Q3 2024 with an IDO on ChainGPT, Plena aims to raise $200K. This innovative crypto super app merges the security of self-custodial wallets with the ease of use found in centralized applications, offering a comprehensive solution for the modern crypto user.

Ended ICOs

Sharpe AI

Sharpe AI concluded its sale on August 25, raising $1.7 million across five rounds. This platform offers an advanced DeFi execution environment, allowing traders to implement yield-earning strategies and execute on-chain trades with a high degree of customization tailored to their risk appetite and return goals.

Weebs

Weebs completed its sale on August 24, raising $1.25 million in six rounds. As the first global marketplace dedicated to the Anime-Comic-Gaming (ACG) industry, Weebs.App connects enthusiasts and creators, making it a pioneering platform in this niche yet vibrant community.

Babylon

The Babylon project, which ended its sale in Q3 2024, secured an impressive $88 million across six fundraising rounds. Babylon is focused on designing security protocols that scale Bitcoin to secure and support the broader decentralized world, making it a key player in the blockchain security landscape.

Hottest Airdrops

Tari

• Navigate to the Tari official page.

• Sign in with X and link your Twitter to start earning rewards.

• Finish the first two quests to earn “Gems.”

• Participate in ongoing quests to increase your gem count.

• Get 1,000 gems for each referral who completes the first two quests.

• Own Gen 0 or Gen 1 Yats to earn rare items like ‘Turtle Shells’ and ‘Sky Hammers.’

• Your items will be converted to XTM tokens during the claim period.

• Sign up to test the new mining app on Testnet.

• Check this article for detailed information on the airdrop.

Every Finance

• Visit Every Finance Beta Campaign Page

• Use your Discord or WalletConnect to sign in.

• Follow Every Finance on X and join their Discord via Zealy.

• Receive free EvPoints for completing tasks.

• Participate in daily claim quests and more to earn extra points.

• Your points will determine your rank on the leaderboard.

• EvPoints will be converted to Every Token; conversion details will be shared later.

• View your ranking on the leaderboard here.

Best Regards,
Crypto Recorder Team

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