Crypto Weekly: Market Trends, Top Coins, and NFT News

Dear Readers,

The cryptocurrency market has been experiencing fluctuations following the release of the latest US employment figures. Bitcoin's price rose slightly by 2.45% on Thursday, August 22, reaching $61,007. Ethereum also saw a positive movement, increasing by 1.67% to $2,635 in the same period. In the last 24 hours, the overall market cap of the crypto sector rose by 2.28 percent to claim the capitalisation of $2.15 trillion.

Highlights Of The Week

• The U.S. Supreme Court’s approval of a revived lawsuit between Nvidia and its investors could potentially expose the crypto industry to a surge of “frivolous securities lawsuits,” according to an industry advocacy group.

•  Binance plans to increase its workforce by 1,000 this year, with at least 20% of the new hires focused on compliance, amid an annual regulatory spending surpassing $200 million.

•  Decentralized finance protocol YieldNest is launching a new liquid staking derivative (LSD) called ynLSDe to capture restaking yield from EigenLayer, as announced on August 21.

•  The Aptos Foundation has partnered with Myco, a Web3 streaming platform, to support the development and growth of the Aptos blockchain.

•  Bitcoin mining company Bitfarms is acquiring Stronghold Digital Mining for approximately $125 million, including $50 million in assumed debt, potentially adding up to 307 megawatts of power capacity and aiming to surpass 950 MW by the end of 2025.

•  Tether plans to launch a new stablecoin pegged to the United Arab Emirates dirham (AED), expanding its stablecoin offerings in the digital asset industry.

Crypto Fear & Greed Index

The recent release of US employment data has sent ripples through the cryptocurrency market, as evidenced by the Fear & Greed Index's increase from 26 yesterday to 39 today. This suggests that investor sentiment has shifted towards greed, likely influenced by the unexpected weakness in the US job market. The divergence between the initial estimates and the revised data has created uncertainty, leading to a more optimistic outlook among crypto traders and investors.

ATH Coins

Achieving an all-time high (ATH) highlights a cryptocurrency's strong market position and rising demand. Yet, the volatility of the market remains a significant factor. It's vital to perform detailed research before investing in coins that have reached ATH levels. Here are a few of the latest top performers to hit ATH milestones.

Ponzio The Cat (PONZIO), a cryptocurrency token with a quirky and humorous backstory, reached a new all-time high (ATH) today. The token's price soared to $5,190.61, surpassing its previous peak. Despite the current price of $5,169.70 and a trading volume of $882,030.93, Ponzio The Cat continues to attract investor interest.

MetaDAO (META), a decentralized autonomous organization built on the Solana blockchain, also achieved a significant milestone today. The token reached a new ATH of $1,979.53, though it has since retreated to $1,722.09. With a trading volume of $1.55 million, MetaDAO remains a popular choice for investors seeking exposure to decentralized governance and development.

Poodlana (POODL), a meme cryptocurrency combining elements of luxury fashion and canine culture, also experienced a notable price surge today. The token hit a new ATH of $0.03762, although it has since dipped to $0.03582. A trading volume of $1.44 million indicates continued interest in this unique project.

Moca Network (MOCA), a cryptocurrency token built on the LayerZero v2 protocol, reached a new all-time high (ATH) today. The token's price peaked at $0.1449, although it has since retreated to $0.1364. Despite the price correction, MOCA remains a promising project with a trading volume of $21.26 million.

Fofar (FOFAR), a token inspired by enduring friendships, also experienced a price surge today. The token reached a new ATH of $0.03814, but has subsequently fallen to $0.02648. With a trading volume of $14.98 million, Fofar continues to attract investor attention.

Top Movers (24H)

The ongoing validation of the cryptocurrency market as a major investment opportunity has caused previous doubters to become enthusiastic participants, diversifying their portfolios with different digital assets. Experienced crypto investors are reinforcing their positions, driving considerable price hikes in several cryptocurrencies over the last day. Let's review some notable cryptocurrencies that have recently experienced substantial price increases.

Verida (VDA) saw a significant price increase of 71.05%, bringing its current price to $0.06536 with a trading volume of $2.49 million. Verida is an open-source layer zero DePIN, securing private data and enabling confidential compute for AI assistants.

Aventus (AVT) experienced a notable price increase of 56.03%, reaching a current price of $2.62 with a trading volume of $2.92 million. Aventus is designed for enterprise-grade use, ideal for large partnerships needing millions of transactions annually.

Common Wealth (WLTH) had a more modest price increase of 27.19%, reaching a current price of $0.04941 with a trading volume of $1.18 million. Common Wealth is a comprehensive investment platform that democratizes finance by providing seamless access to diverse opportunities and professional-grade tools.

Moonriver (MOVR) saw a significant price increase of 24.90%, reaching a current price of $10.69 with a trading volume of $53.69 million. Moonriver is an Ethereum-compatible parachain on Kusama, designed as a canary network for Moonbeam with ongoing incentives.

Frontier (FRONT) experienced a price increase of 18.89%, reaching a current price of $0.9078 with a trading volume of $59.14 million. Frontier is a decentralized finance (DeFi) aggregator that supports multiple blockchais, including BandChain, Ethereum, Binance Smart Chain, and Harmony.

Non-Fungible Tokens – Developments

• Sales of blue-chip NFT collections have increased, with a notable rise in both buyers and sellers over the past week, driven by investor interest in alternative opportunities amid consolidation in traditional cryptocurrencies like Bitcoin and Ethereum.

• Aptos is preparing for a new partnership with NFT marketplace Rarible, as the Layer-1 blockchain ecosystem experiences a rise in daily transactions.

• STEPN GO, a spinoff of the move-to-earn game STEPN, has teamed up with Casio’s G-Shock to release a limited-edition collection of NFT sneakers, highlighting the convergence of virtual and physical worlds.

NFTs To Watch (24H)

Pudgy Penguins, a collection of 8,888 NFTs, continues to dominate the NFT market. With a staggering 226% increase in volume, reaching 300 ETH, the collection has seen a surge in interest. The floor price remains steady at 10.35 ETH, and 31 sales have been recorded.

The Mutant Ape Yacht Club, a collection of up to 20,000 Mutant Apes, has also experienced significant growth. With a 194% increase in volume, reaching 191 ETH, the collection has seen a surge in popularity. The floor price for this NFT collection is only 2.2985 ETH, and 86 sales have already been made.

Lil Pudgys, a collection of 22,222 NFTs originating from Pudgy Penguins, has shown steady growth. The NFT collection has seen a surge in popularity, with a 32% increase in volume to 72.95 ETH. This growth has driven the floor price up to 0.918 ETH, and the collection has recorded 84 sales.

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

Best Regards,
Crypto Recorder Team

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