Crypto Weekly Digest: Analyzing Sentiment Shifts, Top Picks, and NFT Trends

Dear Readers,

The cryptocurrency market experienced a significant decline on Thursday, primarily influenced by the US Federal Reserve's comments that heightened concerns about the likelihood of early rate cuts. At the time of this update, Bitcoin recorded a 1.61% decrease, trading at $42,126, while Ethereum saw a 2.52% drop, reaching $2,265.

Other notable altcoins, including Solana, experienced a decline exceeding 4%. BNB, XRP, Cardano, Dogecoin, Chainlink, Polygon, and Shiba Inu also registered losses ranging from 1% to 3%. Concurrently, the global cryptocurrency market cap contracted by 1.62%, settling around $1.62 trillion within the past 24 hours.

Highlights Of The Week

• Singapore issues cybersecurity warning due to increasing use of cryptocurrency drainers for stealing funds.

• Binance denies exposure of "highly sensitive" internal passwords and code on GitHub, citing outdated code with negligible risk. 

• Celsius emerges from Chapter 11 bankruptcy. It is set to distribute $3 billion in crypto and fiat to creditors and launch a new Bitcoin mining firm. 

• FTX clarifies restructuring plans, emphasizing full repayment to customers without a "reboot" of the firm. 

• Tether Holdings reports a record-breaking net profit in Q4 2023, driven by Treasury interest and strong asset performance.

• Hong Kong's Privacy Commissioner investigates Worldcoin's local operations, citing serious risks to personal data privacy.

• Coinbase appoints former UK Chancellor George Osborne as an adviser amid increasing regulatory scrutiny in the United States.

Crypto Fear & Greed Index

The Crypto Fear & Greed Index provides a snapshot of market sentiment based on various indicators, gauging the emotional state of the cryptocurrency market participants. As of now, the index reflects a sentiment of greed, with a reading of 63, indicating an increased appetite for risk among investors. This marks a slight uptick from yesterday's reading of 60, suggesting a growing bullish sentiment. Comparatively, last week saw a more neutral stance with a reading of 52, indicating a balanced sentiment. The fluctuation in the Crypto Fear & Greed Index highlights the dynamic nature of cryptocurrency markets, where investor sentiment can swiftly shift, influencing market dynamics and trading behavior.

ATH coins

The very moment a cryptocurrency hits its peak market value, it cements its status among the distinguished ATH coins. This points to a substantial increase in coin demand, though it doesn't assure continual growth. Considering the significant volatility in the digital currency arena, in-depth research and analysis are vital before entertaining thoughts of investing in ATH coins. Currently, the following coins have excelled as outstanding performers, achieving notable ATH milestones in recent periods:

ZetaChain (ZETA) has marked a significant milestone today by reaching its all-time high (ATH) price of $1.21. This accomplishment highlights the project's upward trajectory in the market. Currently trading at $0.7414, ZetaChain showcases its uniqueness as a novel Layer 1 (L1) solution with chain-agnostic interoperability, supporting various chains such as EVM-compatible, Cosmos/IBC, Bitcoin, Dogecoin and Tron. Its current trading volume stands at $38.34 million.

Wrapped TAO (WTAO) has also achieved its ATH today, reaching a price of $507.02. The current market price is $444.01, and the trading volume is $7.88 million. WTAO serves as the native token for Bittensor, a revolutionary decentralized network built on the blockchain. This network empowers machine learning models and validators, creating a market for machine intelligence.

HydraDX (HDX) has seen its ATH at $0.03966, emphasizing its commitment to enabling frictionless liquidity for all cryptoassets. The current market price is $0.03235, and the trading volume is $277,453. HydraDX stands out for its mission to build an open, neutral, and autonomous protocol for liquidity.

Jupiter (JUP) reached its ATH of $2.04 yesterday and continues to play a crucial role in the Solana ecosystem. Currently priced at $0.5868, with a significant trading volume of $1.29 billion, Jupiter excels as one of the industry's most advanced swap aggregation engines.

ViciCoin (VCNT) achieved its ATH price of $13.18 on January 30, showcasing its strength in the market. Currently trading at $12.77 with a trading volume of $1.09 million, VCNT serves as a utility token enabling access to protected content, services, web applications, and live events such as Zoom video conferencing.

Top Movers (24H)

The cryptocurrency market has consistently proven itself as a reliable investment platform, leading individuals who once approached it with caution to now enthusiastically embrace it and diversify their investment portfolios with various digital assets. Furthermore, current crypto investors are solidifying their positions, resulting in noteworthy price surges across multiple cryptocurrencies in the last 24 hours. Let's examine some well-known cryptocurrencies that have recently undergone significant price increases.

The Crypto Prophecies (TCP) has undergone a remarkable surge in the last 24 hours, soaring by 93.58%. Currently priced at $0.001755 with a trading volume of $218,304, TCP token, an ERC20 fungible token, plays a pivotal role in the ecosystem. Offering key utilities such as PvP wagering, NFT purchases, daily draws, special event access, and governance/voting rights, TCP stands out as a multifaceted player in the cryptocurrency space.

Mdex (MDX) emerges as a notable mover in the crypto market, experiencing a surge of 30.32% in the past 24 hours. With the current price at $0.05956 and a substantial trading volume of $4.45 million, Mdex operates as an AMM decentralized exchange with a unique dual-chain model, leveraging liquidity from both the Ethereum and Huobi Ecological Chain.

SatoshiVM (SAVM) showcases a robust performance, witnessing a commendable increase of 26.49% in the last 24 hours. Priced at $3.17 with a trading volume of $11.18 million, SatoshiVM stands out as a decentralized Bitcoin ZK Rollup Layer2 solution compatible with the Ethereum Virtual Machine (EVM) ecosystem. Its utilization of native BTC as gas adds an intriguing layer to its functionality, contributing to its popularity in the crypto market.

Marlin (POND) has demonstrated a noteworthy upward movement, with a 12.27% increase in the past 24 hours. Currently priced at $0.0203 and boasting a trading volume of $35.17 million, Marlin positions itself as an open protocol for high-performance programmable network infrastructure within the realms of DeFi and Web 3.0. The network nodes, known as Metanodes, play a crucial role by running MarlinVM for deploying custom overlays and edge computations, adding a layer of sophistication to its offerings.

PIBBLE (PIB) has experienced a commendable jump of 9.61% in the last 24 hours. Priced at $0.0005097 with a trading volume of $2.43 million, PIBBLE 2.0 introduces a groundbreaking service that combines AI chatbot and image generator technologies. This fusion aims to revolutionize the world of creativity and emotional expression, showcasing PIBBLE as an innovative force within the cryptocurrency landscape.

Non-Fungible Tokens – Developments

• OpenSea CEO Devin Finzer reveals the marketplace for NFTs is open to M&A opportunities.

• Doodles, the digital asset firm, partners with luxury watch brand G-shock to launch an NFT-inspired watch collection.

• CoinDesk reopens minting of Microcosms NFT, offering Consensus tickets for three years and other perks at 1 ETH until March 14 or sell-out.

NFTs To Watch

Azuki

Over the last 24 hours, the NFT market has seen significant activity, particularly with Azuki. Boasting a trading volume of 2111 ETH and 109% change, Azuki has captivated the attention of investors. With a floor price of 6.69 ETH and 323 sales, Azuki introduces a collection of 10,000 avatars that act as a ticket to The Garden. This virtual enclave serves as a collaborative space where artists, builders, and web3 enthusiasts come together to shape the future of decentralization.

Doodles

Doodles, another noteworthy player in the NFT space, has seen a trading volume of 349 ETH with 36% change. The Doodles Original Collection, featuring 10,000 characters conceived by Co-Founder Burnt Toast, has garnered attention with its vibrant generative art. Priced at a floor of 2.17 ETH and boasting 161 sales, Doodles showcases a delightful array of colors, traits, and personalities. Notably, the collection includes 32 hand-drawn, unique 1 of 1’s, adding an exclusive touch to this creative ensemble.

Pixelmon - Generation 1

Pixelmon - Generation 1 has marked its presence with a trading volume of 126 ETH and 66% change within the past 24 hours. Priced at a floor of 1.40 ETH and with 75 sales, this NFT takes center stage in the Pixelmon ecosystem. Offering exclusive perks such as Pixelmon Land airdrops, Token airdrops, increased in-game earning, alpha game release, limited in-game items, and NFT airdrops, Pixelmon - Generation 1 emerges as a focal point for enthusiasts diving into the Pixelmon community. 

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

Best Regards,
Crypto Recorder Team

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