Crypto's Journey: Key Trends, Groundbreaking Tokens, and the Rise of NFTs

Dear Readers,

The cryptocurrency market experienced a correction today, with Bitcoin (BTC) dropping by 2.35% to $93,449. Other major cryptocurrencies, including Solana, Tether, and Ethereum, also faced slight declines of less than 2%. In contrast, XRP moved against the trend, rising by 2.34%. The total global crypto market capitalization decreased by approximately 2.19%, settling at $3.28 trillion. As the holiday season wraps up, trading activity is anticipated to increase in the coming week.

Highlights Of The Week

• Crypto markets slump for a second day as the US dollar Index (DXY) hits new highs amid investor concerns over Federal Reserve monetary policies.

• Republican Senator Dusty Deevers introduces legislation to allow Oklahoma employees and residents to receive salaries in Bitcoin and enable BTC payments for vendors.

• Starknet announces the launch of Starknet Stack, a zero-knowledge technology-based tool for developers to create custom blockchains on Ethereum.

•  Rostin Behnam, outgoing CFTC Chair, urges regulators to address digital asset challenges in his final public remarks before stepping down. 

• Web3 startup Movement Labs reportedly secures $100 million in a financing round, valuing the Ethereum layer-2 developer at approximately $3 billion.

• Virtuals Protocol suffers a Discord hack days after fixing a critical bug in its audited contract, with fake links appearing in Google Search results.

Crypto Fear & Greed Index

The Crypto Fear & Greed Index is currently at 69, signaling a greedy sentiment in the market, though slightly lower than yesterday's reading of 70. This minor dip highlights reduced investor enthusiasm amidst persistent economic uncertainties and evolving regulatory measures. Analysts anticipate heightened market volatility in the months ahead as traders adapt to these changing dynamics. Despite this, the long-term perspective on cryptocurrencies remains optimistic, with many experts projecting that digital assets will increasingly influence global finance, driving widespread adoption and reshaping financial systems worldwide.

ATH Coins

Achieving an all-time high (ATH) is a significant milestone for any cryptocurrency, signaling strong market performance and growing investor confidence. However, the volatile nature of the crypto market highlights the need for careful and strategic planning. Thorough research becomes particularly crucial when assessing investments at peak price levels. Notably, several cryptocurrencies have reached their ATHs today, reflecting the dynamic activity in the market.

HeyAnon (ANON), an AI DeFi protocol simplifying DeFi interactions, hit its all-time high (ATH) price of $12.15 today. Currently trading at $10.93, it has a trading volume of $16.27M.

Pippin (PIPPIN), an autonomous AI agent known for its SVG unicorn crafted with advanced LLM benchmarks on ChatGPT 4o, reached an ATH of $0.1011 on January 9, 2025. It now trades at $0.08574, with a robust volume of $36.15M.

Legacy Token (LGCT) is a Legacy Network AG’s EdTech token, focused on leveraging advanced technologies for global learning solutions, recorded an ATH of $1.39 on January 7, 2025. It is currently priced at $1.29, with a volume of $267.05K.

As the first SVM network extension on Solana for gaming and applications, Sonic SVM (SONIC) achieved an ATH of $9.57 on January 7, 2025. Currently, it trades at $0.8048, with a substantial volume of $676.62M.

Magaverse (MVRS), a community-driven token launched on Solana on December 15, 2024, hit its ATH of $0.03145 on January 6, 2025. It’s now priced at $0.02196, with a trading volume of $4.94M.

Top Movers (24H)

The cryptocurrency market is steadily cementing its position as a credible investment avenue, winning over even former skeptics who are now embracing digital assets with fresh interest. Experienced investors are also raising their investments, fueling notable price surges in the past 24 hours. Let’s delve into the leading cryptocurrencies making headlines today.

Over the past 24 hours, Alpha Quark Token (AQT) has experienced the most remarkable surge among top cryptocurrencies, with its value soaring by 188.82%. Currently priced at $3.53, AQT is a key player in a blockchain project that connects intellectual property with the NFT ecosystem and the metaverse. With a trading volume of $1.51 billion, AQT has demonstrated significant market activity, signaling increasing interest from investors and positioning itself as an influential token within the rapidly growing NFT and metaverse sectors.

In close pursuit, Steem Dollars (SBD) has also marked a gain of 154.67%, now trading at $9.87. SBD is deeply integrated into the Steem blockchain and serves as a reward system for users contributing to the Steem social platform. With a trading volume of $3.29 billion, SBD’s significant price increase reflects its growing influence and recognition in the cryptocurrency market.

Meanwhile, Cobak Token (CBK), the core currency of the Cobak platform, has grown by 88.31%. Currently valued at $1.30, CBK powers a vibrant and active app-based crypto ecosystem that continues to attract a large user base. The token's trading volume stands at $344.8 million, which underscores its active role and adoption within the broader cryptocurrency landscape.

Another noteworthy token is Gas (GAS), a utility coin for the NEO blockchain that facilitates the payment of transaction fees within the network. With a price increase of 32.35%, GAS now sits at $6.29. Its trading volume has reached $627.04 million, showcasing its stable and continuous adoption as an essential component of the NEO blockchain ecosystem.

Finally, MetaCene (MAK), a token that represents the evolving future of gaming and virtual worlds through its Meta-MMO platform, has seen a modest increase of 24.63%. Currently priced at $0.03972, MAK offers a unique player-driven experience within a post-apocalyptic world, integrating governance and co-creation into its gameplay. Despite its smaller trading volume of $2.52 million, MAK shows potential within the expanding metaverse economy.

Non-Fungible Tokens – Developments

• Eden Gallery argues that NFT holders' losses are due to market forces and seeks dismissal of a class-action lawsuit claiming responsibility for price drops.

• The exit of the lead for Reddit's avatar NFT offering raises user concerns about the future of the program.

•  South Korea's Jeju Island plans to trial NFT tourist cards to attract younger visitors and boost tourism.

NFTs To Watch (24H)

Doodles has seen a significant surge, with a 100% increase in trading volume over the past 24 hours, reaching a volume of 397 ETH. The floor price currently sits at 4.7669 ETH, and 85 sales have been recorded. The Doodles Original Collection, which includes 10,000 unique characters, was created by Co-Founder and celebrated artist, Burnt Toast.

Mutant Ape Yacht Club has experienced a 28% increase in trading volume, now at 103 ETH. The floor price for these unique NFTs is 2.7 ETH, and there have been 37 sales. This collection includes up to 20,000 Mutant Apes, which are created by exposing an existing Bored Ape to a vial of Mutant Serum or by minting a Mutant Ape during the public sale.

Pudgy Penguins has maintained strong momentum with a trading volume of 882 ETH, showing a 20% increase. The floor price for Pudgy Penguins NFTs is currently 26.099 ETH, with 34 sales in the last 24 hours. The collection consists of 8,888 unique NFTs and is known for its emphasis on accelerating Web3 innovation through the utilization of intellectual property (IP) and community-driven empowerment.

 
Best Regards,
Crypto Recorder Team

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