Crypto Rundown: Explosive Gains, Unexpected Losses, and What’s Next for the Market!

Dear Readers,

Bitcoin briefly surpassed the $100,000 mark, capturing attention and reinforcing its position in the market. This price surge follows a slowdown in U.S. inflation and growing optimism in the market, which is bringing renewed interest to risk assets and setting the stage for a potentially volatile year for cryptocurrencies.

At present, Bitcoin is priced at $99,028.89, with a 24-hour low of $96,518 and a high of $100,798. Ethereum is currently valued at $3,321, reflecting a 3.28% increase over the past day. The total global crypto market capitalization has risen by 2.71% to reach $3.46 trillion.

Highlights Of The Week

• The US SEC has filed an appeal against a federal court ruling that XRP sales to retail investors were not an unregistered securities offering, criticizing the decision.

• Arkansas lawmakers have proposed a bill to ban crypto mining operations within 30 miles of any US military facility in the state.

• Jio Platforms, owned by Mukesh Ambani, has teamed up with Polygon Labs to enhance its offerings with Web3 and blockchain technology.

• Texas state Senator Charles Schwertner has introduced a bill to create a strategic Bitcoin reserve in the state.

• A bill to establish Bitcoin as a strategic reserve asset has been introduced in the Oklahoma House of Representatives by state Representative Cody Maynard.

Crypto Fear & Greed Index

The Crypto Fear & Greed Index has risen to 75, signaling a prevailing sense of greed in the market, up from yesterday's reading of 70. This shift reflects growing investor optimism, bolstered by expectations of key economic data set to be released in the coming days. As investors anticipate continued growth across major cryptocurrencies, this positive sentiment is poised to sustain momentum, fostering a favorable outlook for the market.

ATH Coins

An all-time high (ATH) indicates a cryptocurrency's peak level of success and heightened market interest. Despite this impressive feat, market volatility still plays a significant role. It's important to perform detailed research before investing in coins that are at their ATH. Here are some of the latest high achievers that have reached ATH milestones.

Today marks a significant milestone for GateToken (GT), which achieved an all-time high (ATH) price of $19.78. Currently, GT is trading at $19.64, maintaining strong market momentum with a volume of $21.7 million. As the native cryptocurrency of GateChain, GT is pivotal in the ecosystem, facilitating transaction fees, staking, governance, and network security.

Another standout performance today comes from Hey Anon (ANON), which hit an ATH of $24.50. The token is currently priced at $23.42, with a robust trading volume of $41.03 million. HeyAnon is an AI-powered DeFi protocol designed to simplify user interactions within decentralized finance. By aggregating crucial project-related data, HeyAnon enhances the DeFi experience, offering users an intuitive interface for navigating the space.

Limitus (LMT) also reached a noteworthy ATH of $0.252 today. At present, it is trading at $0.2282, with a volume of $14.34 million. Limitus leverages AI to seamlessly merge the capabilities of Web2 and Web3, automating tasks and financial operations through voice commands. This innovative approach positions Limitus as a transformative platform, streamlining processes for users across the digital economy.

Griffain (GRIFFAIN) made its mark today with an ATH of $0.5735. Currently priced at $0.5487, Griffain maintains a strong trading volume of $114.37 million. This blockchain-based platform operates within the Solana ecosystem, focusing on enhancing decentralized applications and services.

Lastly, Magaverse (MVRS) reached an ATH of $0.06589 today, with the current price closely tracking at $0.06588. With a trading volume of $16.11 million, MVRS remains a community-driven token on the Solana blockchain. Originally launched on Pump.fun, the project faced volatility following the sale of the original developer’s holdings, yet it continues to build a strong community presence within the Solana ecosystem.

Top Movers (24H)

As the cryptocurrency market’s legitimacy as a serious investment option continues to grow, former skeptics are enthusiastically adopting it, diversifying their portfolios with an array of digital assets. Experienced investors are also strengthening their positions, which has led to substantial price hikes in several cryptocurrencies over the past day. Let’s examine some prominent cryptocurrencies that have recently seen significant price advancements.

Leading the pack is Portuma (POR), which has surged by 158.35%, reaching a price of $0.0002426. With a trading volume of $893.71K, Portuma continues to carve out its niche as a BEP20 token on the Binance Smart Chain, focused on providing innovative in-game and metaverse advertising solutions for both developers and users worldwide.

Giant Mammoth (GMMT) is another standout, soaring 69.81% to a current price of $0.01444. The token has garnered significant attention, with a trading volume of $2.94M. As a global Web3 lifestyle service platform, Giant Mammoth operates on its own proprietary blockchain, the Giant Mammoth Chain, positioning itself as a key player in the evolving Web3 space.

Meanwhile, Alvara Protocol (ALVA) has gained 61.68%, bringing its price to $0.3493. With a trading volume of $1.03M, Alvara Protocol is making waves with its creation of the ERC-7621 and BTS Factory, empowering individuals to launch their own tokenized multi-asset funds and take on the role of fund managers in a decentralized financial ecosystem.

Victoria VR (VR) has also seen a significant uptick, rising by 47.82% to reach a price of $0.01569. The platform, with a trading volume of $25.64M, offers a fully immersive virtual world powered by blockchain technology, bringing realistic virtual reality experiences to users while integrating the benefits of decentralized finance.

Finally, Alchemist AI (ALCH) has experienced a solid gain of 40.18%, bringing its price to $0.164. With a trading volume of $83.79M, Alchemist AI is redefining application development by providing a no-code platform that allows anyone to manifest their ideas into live applications without requiring technical expertise.

Non-Fungible Tokens – Developments

• The NFT market experienced its worst year for trading volume and sales in 2024 since 2020, according to a DappRadar report, driven by volatility and rising token prices.

• The floor price of CryptoPunks NFTs surged by 13% in three hours following rumors that Yuga Labs might be selling its intellectual property rights for the collection. 

• Indian Railways will issue NFT-based train tickets for passengers traveling to the MahaKumbh Mela, a once-in-144-years Hindu festival and pilgrimage.

NFTs To Watch (24H)

Pudgy Penguins is a collection of 8,888 NFTs that are making waves in the Web3 space through their focus on IP utilization and community empowerment. In the past 24 hours, the collection saw a significant volume increase of 168%, reaching 624 ETH. With 25 sales and a current floor price of 24.85 ETH, Pudgy Penguins is continuing to gain attention and solidify its place in the NFT market.

The Mutant Ape Yacht Club, which features up to 20,000 unique Mutant Apes, has also been performing well. Mutant Apes can only be created by exposing an existing Bored Ape to Mutant Serum or through public minting. Over the past 24 hours, the collection experienced a 49% increase in volume, with 198 ETH in sales and 78 individual transactions. The current floor price sits at 2.525 ETH, signaling strong interest in this popular NFT series.

Bored Ape Yacht Club remains one of the most iconic collections in the NFT space. This collection consists of 10,000 unique digital collectibles that live on the Ethereum blockchain. Despite a slight dip in the number of sales, with only 9 transactions recorded in the last 24 hours, the collection still saw a 32% increase in volume, reaching 140 ETH. The floor price of 15.38 ETH reflects its ongoing dominance and appeal in the market.

 
Best Regards,
Crypto Recorder Team

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