Crypto Weekly Recap: Fed's Rate Decision Shakes Market

Dear Readers,

On Thursday, major cryptocurrencies declined after the Federal Reserve decided to maintain the key interest rate. Bitcoin (BTC) dropped 2.74% to $64,481, while Ethereum decreased by nearly 4.10% to $3,181. Additionally, the global cryptocurrency market cap fell by 3.24%, reaching approximately $2.31 trillion in the past 24 hours.

Altcoins and meme coins, such as BNB, Solana, XRP, Dogecoin, Cardano, Avalanche, Shiba Inu, Polkadot, and Chainlink, also experienced declines.

Highlights Of The Week

• In July, online hackers stole approximately $266 million from the cryptocurrency ecosystem through 16 separate attacks.

•  On July 18, Indian crypto exchange WazirX lost over $230 million to a major hack, accounting for 86.4% of the total crypto lost to hacks in the month.

•  Telegram launched a new in-app browser supporting decentralized websites, called "TON Sites," available on mobile and desktop as of July 31.

•  Listings for Donald Trump's limited-edition orange Bitcoin-themed sneakers are on eBay, with scalpers selling pre-order spots for up to $2,500.

•  Bitcoin miner Riot Platforms missed estimates and posted its first quarterly loss since 2022, impacted by April's halving event.

•  On July 31, Senator Cynthia Lummis introduced the Bitcoin Strategic Reserve bill to start a reserve fund for Bitcoin in the United States.

•  Cryptocurrency exchange Bybit launched digital rupee payments, enhancing security for rupee users with the Indian central bank digital currency (CBDC).

Crypto Fear & Greed Index

The Crypto Fear & Greed Index currently sits at a neutral 52, down from yesterday’s greedy 61. This cooling sentiment follows the recent crypto market downturn triggered by the Fed's decision. Investor confidence is likely to face further tests today with the release of the U.S. unemployment rate. A stronger-than-expected figure could potentially inject optimism into the crypto market, but volatility is expected to persist as traders react to the economic data.

ATH Coins

Achieving an all-time high (ATH) demonstrates a cryptocurrency's position among the best, signaling heightened demand. However, market volatility remains a key feature. Conducting thorough research is crucial before investing in ATH coins. Here are some of the latest top performers to reach ATH milestones.

Kaspa (KAS) is currently riding high, having reached a new all-time high price of $0.2075 today. The coin's current price stands at $0.202, with a trading volume of $201.37 million. The surge in KAS's value can be attributed to increased mining interest from major players like Marathon Digital Holdings. CEO Fred Thiel highlighted KAS's superior mining rewards compared to Bitcoin, with a revenue per kWh of $1.00, significantly outperforming BTC's $0.08.

Ponzio The Cat (PONZIO) has captured the market's attention with its extravagant persona and unique approach. Today, the coin achieved an unprecedented ATH price of $169.93 before retracing slightly to its current price of $169.83. Despite a relatively low trading volume of $142,248.6, PONZIO has managed to maintain its high value. The coin's owner has showcased their wealth by burning over 50 ETH in liquidity for entertainment purposes, emphasizing the coin's playful and opulent nature.

Neiro Ethereum (NEIRO) is a newcomer to the cryptocurrency scene that has already made waves. The coin reached its ATH price of $0.1913 today but has since dipped to $0.1671. With a total supply of 1 billion tokens, NEIRO operates on a zero buy/sell tax and no team token model, fostering a community-driven approach. The coin has generated a trading volume of $35.66 million, indicating strong initial interest from investors.

Hiro NFT Game Platform's native token, HRT, has seen a surge in value. Yesterday, the coin reached its peak price of $1.43, but it has since corrected to $0.6339. Despite the price drop, HIRO maintains a trading volume of $1.51 million. As a blockchain-based gaming platform offering a Play-to-Earn (P2E) model, HIRO is positioned to benefit from the growing popularity of the gaming industry and cryptocurrency integration.

Broke Again (BROKE) Coin is a digital currency designed for decentralized finance. Yesterday, the coin hit its ATH price of $0.007337 before retracing to its current value of $0.006301. With a trading volume of $589,214.76, BROKE is actively traded in the market. While the coin's name might suggest a humorous approach, its underlying technology and purpose align with the broader DeFi ecosystem.

Top Movers (24H)

The ongoing recognition of the cryptocurrency market as a substantial investment platform has led previous skeptics to adopt it enthusiastically, diversifying their portfolios with various digital assets. Experienced crypto investors are also reinforcing their positions, leading to considerable price increases in multiple cryptocurrencies over the past day. Let's examine some well-known cryptocurrencies that have recently seen notable price hikes.

UNICE (UNICE) is making waves in the crypto market, surging 81.73% in the last 24 hours to reach a current price of $0.09205. This AI-based blockchain messenger, developed by doctors, facilitates real-time language translation for chats and voice calls, breaking down language barriers. The token's volume currently stands at $2.52 million, indicating significant trading activity.

L7 (LSD) has also experienced a meteoric rise, soaring 71.58% in the past 24 hours. This Web3-based protocol offers investment solutions and services for the blockchain ecosystem, currently trading at $0.006932. With a trading volume of $599,929, L7 has attracted investor attention amidst its impressive price action.

Astroport (ASTRO) is another standout performer, with a price increase of 60.28% in the last 24 hours to reach $0.0289. This decentralized marketplace enables token trading and is governed by its ASTRO token holders. The token's current volume is $111,557.34.

ZELIX (ZELIX) has seen a more modest but still notable increase of 18.64% in the past 24 hours, bringing its price to $0.0001164. This project aims to integrate various metaverse platforms into a unified ecosystem. Trading volume for ZELIX currently stands at $1.02 million.

Aleph Zero (AZERO) rounds out the top movers with a 17.43% jump in price over the last 24 hours. This privacy-enhancing layer 1 blockchain is designed for speed and efficiency, similar to traditional web2 systems. AZERO is currently trading at $0.5087 with a volume of $4.84 million.

Non-Fungible Tokens – Developments

• DogeZuki Collection emerged as the top-performing NFT collection on July 30, with sales reaching $495,472 and attracting 11,422 unique buyers, marking a significant market uptick.

• Sony Bank introduced the Sony Bank CONNECT app, allowing users to collect, trade, and display NFTs received through promotional activities, and create gallery-style rooms for their NFTs.

•  Yuga Labs, parent company of Bored Ape Yacht Club and Mutant Ape Yacht Club, partnered with digital artist Cory Van Lew to launch an art program for children in Miami, Florida.

NFTs To Watch (24H)

Bored Ape Yacht Club

Bored Ape Yacht Club is experiencing a resurgence in popularity with a staggering 181% increase in volume over the past 24 hours. This iconic collection, comprised of 10,000 unique Bored Ape NFTs, continues to be a dominant force in the NFT market. With a floor price of 9.94 ETH and 42 sales, it's clear that investor interest in these digital collectibles remains strong.

Mutant Ape Yacht Club

The Mutant Ape Yacht Club is another standout performer, boasting a 240% increase in volume. As an extension of the Bored Ape ecosystem, these mutant apes, created through exposure to a MUTANT SERUM or public mint, have captured the attention of collectors. With a floor price of 1.5747 ETH and 75 sales, the Mutant Ape Yacht Club is demonstrating significant growth potential.

Memeland Captainz

Memeland Captainz is making waves as a new entrant to the NFT scene. This collection of 9,999 pirate-themed NFTs has seen a 96% increase in volume in just 24 hours. The allure of exploring the Broken Seas in search of legendary treasure has captivated collectors, driving sales to 42 with a floor price of 2.19 ETH.

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

Best Regards,
Crypto Recorder Team

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