Is the Crypto Rollercoaster Over? Market Stabilizes After Wild Week

Dear Readers,

Cryptocurrency prices were mixed on Thursday. Some tokens, like Bitcoin, Ethereum, BNB, XRP, Toncoin, Avalanche, and Chainlink, gained up to 2%. Others, including Solana, Dogecoin, Cardano, Shiba Inu, and Uniswap, saw losses of up to 2%. Despite the mixed performance of individual tokens, the overall market capitalization for cryptocurrencies increased slightly by 0.97% to roughly $2.4 trillion over the past day. Bitcoin rose 0.82% to $65,794, and Ethereum surpassed $3,608.

Highlights of the week

•  Australia’s first Bitcoin exchange-traded fund (ETF) debuted on the Australian Securities Exchange with a trading volume of $1.3 million on its first day.

• Martin Shkreli, known as “Pharma Bro,” claims that Barron Trump, Donald Trump’s 18-year-old son, launched the TrumpCoin (DJT) token with his father’s approval and controls its smart contract private keys.

• A U.S. judge has denied Meta Platform’s request to dismiss a lawsuit from Australian mining billionaire Andrew Forrest over Facebook ads that used deep fake images of him to promote crypto scams.

• Stablecoins could make up 10% of “global economic money” within the next decade or more, according to Circle CEO Jeremy Allaire. 

• The amount of Bitcoin held on exchanges has fallen to a three-year low as of June 19, 2024.

• Binance has appealed a $4.4 million fine from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) issued in May.

• CertiK has revealed itself as the “security researcher” accused by Kraken of stealing $3 million in digital assets.

• The Nigerian High Court has dismissed a lawsuit by Binance regional manager Nadeem Anjarwalla, who claimed that Nigerian authorities violated his rights by detaining him and seizing his passport.

• Fairshake, a political action committee (PAC) supporting attack ads against various U.S. lawmakers, announced it has raised $169 million ahead of numerous primary elections.

• The Central Bank of Iran (CBI) has launched a pilot for its central bank digital currency (CBDC), the digital rial, aimed at domestic micropayments.

• Nomura’s cryptocurrency division, Laser Digital, has received a broker license for both traditional and digital assets in Abu Dhabi, completing its licensing process with the Abu Dhabi Global Market (ADGM).

• Bitwise has updated its spot Ether ETF Form S-1 registration, which includes a potential $100 million investment in the ETF at launch.

Crypto Fear & Greed Index

Investor sentiment in the crypto market has dipped slightly, according to the Fear & Greed Index. The index currently sits at "Greed" (60), down from "Extreme Greed" (64) yesterday. This cautious shift reflects ongoing concerns about regulations and broader economic trends, suggesting investors are adopting a more measured approach despite the previously exuberant mood.

ATH coins

Achieving an all-time high (ATH) signifies a cryptocurrency's elevation to the pinnacle, reflecting a significant surge in demand. However, volatility is a hallmark of this market. Diligent research is crucial prior to investing in ATH coins. Here are a few recent high performers reaching ATH milestones.

NORMUS (NORMUS), a cryptocurrency known for its fun and community-driven nature, hit a record high of $0.02053 today! However, its price has since fallen to $0.00475. Despite the dip, trading volume remains healthy at $175,717.23.

LandWolf (WOLF), a meme token inspired by a chill and wise character, is making its mark on the Solana blockchain. Today marks its all-time high of $0.01002, with a current price hovering around $0.009768. LandWolf boasts a significant trading volume of $22.05 million, indicating strong community interest.

The Sabai Protocol (SABAI), a solution for tokenizing real-world assets, reached its peak today at $0.05816. This innovative protocol offers a secure way to represent both physical and virtual assets on the blockchain.  Currently, SABAI sits at $0.05779 with a trading volume of $658,864.

Biaoqing (BIAO), the "pepe" of China, reached its all-time high of $0.05228 yesterday. This popular meme coin, inspired by a famous panda, is now venturing into the Ethereum blockchain. While the price has dipped slightly to $0.04265, Biaoqing still boasts a significant trading volume of $9.57 million.

UDAO (UDAO), a Web3 platform designed to revolutionize job training, achieved its all-time high of $0.4331 yesterday. This platform aims to provide users with job-relevant skills at a fraction of the traditional cost and time commitment. While the price has settled at $0.3848, UDAO still sees a trading volume of $444,473.34.

Top Movers (24H)

With the cryptocurrency market continually demonstrating its value as a lucrative investment platform, those who were once hesitant are now fully embracing it, augmenting their investment portfolios with a variety of digital assets. Furthermore, existing crypto investors are fortifying their positions, resulting in noteworthy price surges across various cryptocurrencies in the last 24 hours. Let's take a closer look at a few familiar cryptocurrencies that have recently undergone significant price spikes.

Holograph (HLG) is making a splash. This omnichain tokenization protocol, which allows for the creation of versatile tokens that can function across multiple blockchains, has surged an impressive 39.06% in the last 24 hours. The current price sits at $0.004225, with a trading volume of $1.35 million.

Fetch.ai (FET) is also seeing significant gains. This project, spearheaded by an artificial intelligence (AI) lab, is building a decentralized machine learning network with its own crypto economy. The price of FET has jumped 30.36% in the past day, reaching $1.68. Trading volume for FET is currently at $412.98 million.

The world's first AI-generated memecoin, Turbo (TURBO), is living up to its name with a 27.36% price increase. Inspired by the potential of AI, the project's founder tasked GPT-4, a powerful AI language model, with creating the next big memecoin.  Turbo is currently trading at $0.0052, with a volume of $116.66 million.

SingularityNET (AGIX) is another project capitalizing on the excitement surrounding AI in the crypto space. This platform allows anyone to create, share, and monetize AI services through a globally accessible marketplace. The price of AGIX has soared 26.30% in the last 24 hours, reaching $0.6758. Trading volume for AGIX currently sits at $182.95 million.

Rounding out the list of top movers is Ocean Protocol (OCEAN). This project utilizes blockchain technology to facilitate secure and privacy-preserving data sharing. OCEAN has seen a gain of 23.87% in the past day, with the current price at $0.675. The trading volume for OCEAN is $80.57 million.

Non-Fungible Tokens – Developments

1.  The Vatican Library, in collaboration with NTT DATA Italia, has launched a new initiative to preserve its vast manuscript collection using blockchain technology and will distribute NFTs to donors and social media users in Italy.

2. Ethereum-based NFT collectibles, such as Pudgy Penguins and Bored Ape Yacht Club, have been declining in value following critical opinions from Blur farmers.

3. Cryptorefills, a leading platform in cryptocurrency commerce, has announced the launch of its new Non-Fungible Token (NFT) gift card collection, aimed at boosting customer loyalty and engagement.

NFTs To Watch (24H)

Azuki

Leading the NFT pack today is Azuki, a collection of 10,000 avatar NFTs. With a whopping 234 ETH in trading volume over the past 24 hours, Azuki has skyrocketed by 102%. Owning an Azuki NFT grants you more than just a digital avatar; it unlocks membership to The Garden, a virtual space fostering collaboration among artists and builders of the decentralized future. Currently, the floor price to enter the Azuki world sits at 3.475 ETH, with 78 total sales recorded in the last day.

Lil Pudgys

Next up is Lil Pudgys, a collection of 22,222 NFTs with a rich history intertwined with the Pudgy Penguins project. Lil Pudgys has witnessed a significant surge in trading volume, reaching 181 ETH over the past day, reflecting a 45% increase. Each Lil Pudgy NFT is a piece of the Pudgy Penguins story, originating during a harsh winter. Compared to other top collections, Lil Pudgys offers a more affordable entry point, with a current floor price of 0.668 ETH. In the last 24 hours, there have been 283 Lil Pudgy NFTs sold.

Redacted Remilio Babies

Finally, Redacted Remilio Babies, a collection of 10,000 NFTs, explores the unconventional side of digital art. Delving into concepts of "young J.I.T. energy and schizophrenic reactionary aesthetics," Redacted Remilio Babies offers a unique perspective within the NFT space. The past 24 hours have seen a 31% increase in trading volume for Redacted Remilio Babies, reaching 244 ETH. The current floor price for a Redacted Remilio Baby NFT is 1.2966 ETH, with 194 NFTs sold 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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