Crypto Update: Bitcoin Resilient Amidst Market Volatility

Dear Readers,

The cryptocurrency market saw a rollercoaster of activity on Thursday. Bitcoin bucked the trend, rising above $57,000 despite overall mixed trading conditions. While some cryptocurrencies like Solana, XRP, and Dogecoin saw significant gains, others, including Ethereum and BNB, experienced losses. 

Bitcoin's value dipped slightly to $57,282, and Ethereum dropped by about 3.18% to $2,446. As a result, the total value of the cryptocurrency market decreased by 0.80% to approximately $2.02 trillion over the past 24 hours.

Highlights Of The Week

• Nexera, a decentralized finance (DeFi) protocol, has burned 32.5 million NXRA tokens involved in a recent hack to address the incident and enhance security.

• The New York Stock Exchange (NYSE) American LLC has proposed a rule change to allow the listing and trading of options for three Ether exchange-traded funds by Grayscale and Bitwise.

• A New York judge has granted final approval for defunct crypto exchange FTX and Alameda Research to repay $12.7 billion to FTX creditors in a settlement with the U.S. Commodity Futures Trading Commission (CFTC).

• Japanese investment firm Metaplanet has secured a 1 billion Japanese yen ($6.8 million) loan from shareholder MMXX Ventures to buy more Bitcoin, with a 0.1% interest rate and a six-month term starting on Aug. 8.

• Stablecoin USDe has launched on the Solana network, with borrowers soon able to use Solana as collateral for USDe loans pending approval by Ethena (ENA) token holders, and integration with several Solana apps.

Crypto Fear & Greed Index

Cryptocurrency investors are gripped by extreme fear as of Thursday, August 8th. The Crypto Fear & Greed Index, a measure of market sentiment, has plummeted to 20, indicating widespread panic. This sharp decline from yesterday's fear level of 29 underscores the deepening pessimism among cryptocurrency traders.

ATH Coins

Reaching an all-time high (ATH) showcases a cryptocurrency's strength and increased demand. Despite this, market volatility is ever-present. It's essential to conduct comprehensive research before investing in coins at their peak. Here are some of the most recent top performers that have hit ATH milestones.

Fasttoken (FTN) reached a new all-time high (ATH) price of $2.52 today, maintaining this peak value currently. As the native currency of the Bahamut blockchain, an EVM-based layer 1 platform utilizing Proof of Stake and Activity consensus, FTN has demonstrated significant market interest with a trading volume of $81.11 million.

YAWN (YAWN) achieved its ATH price of $0.003414 today, but has since dipped to $0.003167. Positioned as the world's first meme token offering profit-sharing opportunities, YAWN has generated a trading volume of $2.93 million.

APF Coin (APFC) hit an ATH of $0.5955 today, with the current price slightly lower at $0.5948. Designed for secure and efficient transactions on a decentralized network, APFC has recorded a trading volume of $1.67 million.

Trillioner (TLC) reached a new all-time high (ATH) price of $102.63 today, with the current price settling slightly lower at $102.06. Designed to bridge the gap between traditional finance and the digital currency ecosystem, TLC has garnered significant attention, as evidenced by its $2.21 million trading volume.

Top Movers (24H)

The growing acceptance of the cryptocurrency market as a significant investment platform has turned previous skeptics into enthusiastic adopters, diversifying their portfolios with various digital assets. Seasoned crypto investors are also strengthening their positions, resulting in substantial price surges in several cryptocurrencies over the past day. Let's explore some renowned cryptocurrencies that have recently experienced notable price hikes.

MOG TRUMP (TRUMP) is making waves in the crypto market, surging 105.60% to reach a current price of $0.02911. This lighthearted meme coin, born from a friendly joke, is gaining significant traction with a current volume of $486,622.16. Positioned as the internet’s first culture coin, MOG TRUMP is aiming to revolutionize the cryptocurrency landscape.

Gari Network (GARI) is on a hot streak, soaring 35.31% to trade at $0.01357. With a current volume of $2.52 million, GARI, the backbone of the Chingari platform, is experiencing substantial growth. As the largest Web3 live streaming platform, Chingari offers users a space for engaging conversations and expert insights, fostering meaningful connections and knowledge sharing.

Dora Factory (DORA) is making significant strides, with a 32.70% increase in price to reach $0.07687. The platform, dedicated to decentralized governance, is driving innovation through solutions like Public Good Staking and Dora Vota. With a current volume of $1.15 million, Dora Factory is empowering open-source communities and decentralized organizations.

ECOx (ECOX) is experiencing a green surge, jumping 26.47% to hit a price of $0.1059. This utility token within the ECO ecosystem is designed to incentivize eco-friendly actions and support sustainable economic growth. With a current volume of $121,435.06, ECOx is aligning financial gains with environmental benefits.

XRP (XRP) is riding high on a wave of positive news, gaining 19.38% to trade at $0.6164. The cryptocurrency has seen a surge in volume, reaching $5.37 billion, following a landmark court ruling in favor of Ripple. This victory marks a significant milestone for XRP and its potential future in the market.

Non-Fungible Tokens – Developments

• Ethereum-based CryptoPunks topped the daily NFT sales chart on Tuesday, recording US$663,757 in transactions across 11 unique buyers, as reported by CryptoSlam.

• Colle AI announced free workshops to educate artists on NFT creation, covering aspects like minting and trading, using their advanced AI-driven tools.

• Bermuda Unicorn introduced a secure NFT marketplace focused on discovering, trading, and holding digital assets, aiming to enhance security, transparency, and accessibility in the digital collectibles space.

NFTs To Watch (24H)

Pudgy Penguins

Pudgy Penguins is a collection of 8,888 NFTs demonstrating significant market activity. With a 24-hour trading volume of 89.85 ETH, representing a 37% increase, and a floor price of 8.69 ETH, the collection has seen strong investor interest. Despite only 11 sales in the past day, the overall positive metrics indicate a promising trajectory for Pudgy Penguins.

Mutant Ape Yacht Club

The Mutant Ape Yacht Club, a derivative of the iconic Bored Ape Yacht Club, maintains a steady presence in the NFT market. In the past 24 hours, it recorded a volume of 83.81 ETH, representing a 10% increase. With a floor price of 1.5599 ETH and 50 sales, the collection continues to attract collectors and traders alike.

Azuki

Azuki has emerged as a standout performer in the NFT space. The collection's focus on community and creativity has driven a remarkable 170% surge in volume over the past 24 hours, reaching 31.65 ETH. With a floor price of 1.5599 ETH and 50 sales, Azuki's momentum indicates strong potential for future growth.

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

Best Regards,
Crypto Recorder Team

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