Crypto Weekly Review: Analyzing Sentiment, Top Performers, and Diving Deep into NFTs

Dear Readers,

Today, the crypto market was optimistic, with prices mostly in the green. Investors are keeping an eye on the Federal Reserve's upcoming meeting, hoping it will boost the crypto market. The Fed decided to keep interest rates unchanged, maintaining stability.

At the time of this writing, Bitcoin's price increased by 2.31% to $35,265, with a higher trading volume. Ethereum also rose by 1.31% to $1,831, and XRP increased by 0.57% to $0.606. Solana's price surged by 14.23% to $43.85, and Cardano jumped by 6.42%, with increased trading volumes.

Highlights of the Week

• The United Kingdom's National Crime Agency (NCA) to establish a specialized cryptocurrency team to combat scams targeting crypto investors.

• Sky Mavis partners with Act Games to introduce Japanese video game franchises to the Axie Infinity game on the Ronin blockchain.

• Hong Kong government remains committed to its Web3 vision despite the $165 million scandal involving JPEX crypto exchange.

• MicroStrategy gains $900 million on its Bitcoin holdings, driven by optimism about the approval of spot Bitcoin exchange-traded funds.

• Sam "SBF" Bankman-Fried allegedly used FTX customers' funds to purchase Binance's $2 billion stake in FTX.

• Worldcoin's mobile World App surpasses 4 million downloads, potentially ranking it sixth in CoinGecko's software wallets list.

• The U.S. Securities and Exchange Commission charges SafeMoon and its executives with fraud and unregistered securities sales.

• PayPal gains approval from the Financial Conduct Authority (FCA) to offer crypto services in the United Kingdom.

• Coinbase Advanced grants retail traders in the United States access to regulated crypto futures contracts, following CFM's approval as a Futures Commission Merchant (FCM) entity.

Crypto Fear & Greed Index

With the Crypto Fear & Greed Index currently registering a score of 72, it's evident that the prevailing sentiment among investors is characterized by "Greed." This represents a marginal uptick from the previous day's score of 66. Investors are closely tracking the forthcoming meeting of the Federal Reserve, with hopes that it may provide a much-needed boost to the cryptocurrency market. The recent decision of the Fed to maintain interest rates at their current levels has contributed to an overarching sense of stability, fueling positive sentiment and an increased level of greed within the index.

ATH coins

When a cryptocurrency reaches its highest market value, it secures a spot among the esteemed ATH coins. This signals a substantial increase in coin demand, though it doesn't assure ongoing growth. Due to the considerable volatility in the world of digital currencies, thorough research and analysis are crucial before considering investments in ATH coins. Currently, these coins have stood out as outstanding performers, achieving notable ATH milestones in recent times:

Rollbit Coin (RLB) has been experiencing a winning streak this week, which has propelled its value to an all-time high of $0.239, fueled by substantial purchases from prominent whale investors. Such a surge denotes a growth rate of over 25.53%.

The value of Thoreum V3 (THOREUM) has taken a substantial leap, surging from $333.06 to an exceptional all-time high of $350.38 today. Thoreum is a hyper-deflationary BEP-20 token for liquidity mining, often used in a HODL strategy. It's like SafeMoon 2.0 on the Binance Smart Chain.

Wrapped TRON (WTRX) recently experienced an extraordinary price surge, culminating in a new record high of $0.1008 today. WTRX is a TRON derivative extensively utilized across various decentralized finance (DeFi) applications. Its versatile applications encompass liquidity provision, token exchanges, and margin trading.

Ten Best Coins (TBC) also displayed a positive upswing today, attaining a new ATH of $3,769.98, up from $3,627.13, with a trading volume of $267,865. TBC's price code tracks the top 10 coin yields, making trading more efficient for everyone, from individual users to large players like hedge funds and institutions.

Lastly, Celestia (TIA) has demonstrated a phenomenal upturn today, surpassing the $2.84 ATH threshold following the announcement of its listing on Coinbase, with a trading volume of $379.36 million in the past 24 hours.

Top Movers (24H)

With the cryptocurrency market earning growing trust as a reliable investment option, people who were previously uncertain are now adopting it and expanding their portfolios across a diverse range of digital assets. Moreover, present-day crypto investors are solidifying their positions, resulting in significant price spikes in multiple cryptocurrencies in the past 24 hours. Let's explore some notable cryptocurrencies that have experienced recent price increases.

Marinade (MNDE) witnessed a striking price surge today, as the cryptocurrency's value soared from $0.1217 to a peak of $0.1846, marking an exceptional 51.68% increase within a single day. The trading volume during this period reached approximately $7.4 million. Marinade is a stake automation platform that continuously oversees the activities of all Solana validators and allocates resources to over 100 top-performing validators.

Raydium (RAY) had a standout performance in the market, with a trading volume exceeding $118.18 million. In a single day, RAY leaped from $0.2135 to $0.3125, resulting in a substantial gain of over 46.37%. Raydium is a decentralized exchange (DEX) and liquidity provider developed on the Solana blockchain, specifically designed for the Serum decentralized exchange.

Augur (REP) enjoyed a highly successful day, witnessing a significant price uptick. The cryptocurrency surged from $0.634 to $0.9366, signifying a noteworthy 47.73% increase. Augur's trade volume has been consistently on the rise, reaching over $7.03 million. REP is designed to tap into the collective wisdom of the crowd using prediction markets on a protocol controlled by holders of the Ethereum-based Reputation token.

SushiSwap (SUSHI) also joined the ranks of today's winners, steadily increasing in value from $0.8046 to $1.17. During this 45.41% ascent, the trading volume of SUSHI experienced explosive growth, surging from under $118.82 million to over $316.11 million. SushiSwap is a popular decentralized exchange that uses smart contracts to create markets for different token pairs.

Star Atlas DAO (POLIS) demonstrated its prowess as a top performer for the day, with its daily trading volume surpassing $1.40 million. POLIS rose from $0.218 to $0.2952 in a single day, representing a significant gain of nearly 35.41%. Star Atlas is a cutting-edge gaming metaverse that combines advanced blockchain technology, real-time graphics, multiplayer video games, and decentralized financial innovations.

Non-Fungible Tokens – Developments

• Elon Musk's comments on NFTs inadvertently highlight Bitcoin Ordinals. Bitcoiners argue that Musk's remarks sum up the use case for Bitcoin Ordinals.

• Norman Rockwell NFTs available for purchase from Nov. 15, featuring "Waiting for the Art Editor" collection.

• Yuga Labs wins legal victory against artists Ryder Ripps and Jeremy Cahen, awarded $1.3m in profits and $200,000 in damages.

NFTs To Watch

Bored Ape Yacht Club

In the world of NFTs, the Bored Ape Yacht Club has been making waves over the past 24 hours. This exclusive collection of 10,000 unique Bored Ape NFTs, residing on the Ethereum blockchain, has experienced a surge in activity. With a trading volume of 4922 ETH and a substantial change of 146%, the Floor Price has climbed to 31.77 ETH, and there have been 160 sales.

DeGods

DeGods, a unique digital art collection and a vibrant global community, has caught the attention of NFT enthusiasts. In the last 24 hours, DeGods has seen a trading volume of 442 ETH, accompanied by a change of 244%. The Floor Price currently stands at 3.20 ETH, and 140 sales have been recorded. DeGods is more than just art; it represents a diverse group of creators, developers, entrepreneurs, athletes, artists, experimenters, and innovators coming together in the NFT ecosystem.

Azuki

Azuki, an intriguing NFT project, is creating a buzz with its innovative concept. With a trading volume of 511 ETH and a change of 33% over the last 24 hours, Azuki is gaining traction. Its Floor Price is currently at 5.25 ETH, and 99 sales have taken place. Azuki offers a unique experience, starting with a collection of 10,000 avatars that grant membership access to The Garden. This exclusive corner of the internet is where artists, builders, and web3 enthusiasts collaborate to shape a decentralized future.

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

Best Regards,
Crypto Recorder Team

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