Crypto Weekly: Sentiment Shifts, Top Picks, and NFT Trends Explored

Dear Readers,

Today, the cryptocurrency market experienced a considerable uptick in prices, with Bitcoin (BTC) surpassing the $44,000 threshold. Ethereum maintained its position at $2,400, showcasing a noteworthy upward trend. Additionally, leading alternative cryptocurrencies also saw substantial gains, contributing to a robust rebound in the market.

Specifically, Bitcoin witnessed a significant rebound, marking a 3.57% increase and reaching $44,687 as of the current writing on Thursday, February 8. Shifting focus to altcoins, Ethereum observed a 2.24% rise, reaching $2,424 at the time of this update. Conversely, Binance Coin (BNB) displayed a notable increase of 4.02%, reaching a value of $315.85.

Highlights Of The Week

• Spot Bitcoin ETFs achieved a daily trading volume surpassing $1 billion on Feb. 7, with BlackRock leading.

• Reserve Bank of India (RBI) Governor Shaktikanta Das plans offline solutions to promote digital rupee adoption in remote areas with limited internet access.

• Cyber Security Agency of Singapore warns of a vulnerability in a WordPress crypto widget plugin, posing a risk of sensitive data extraction.

• NBA faces a class-action lawsuit over marketing deals with Voyager Digital, with users claiming losses exceeding $4.2 billion.

• Deus X Capital and Bridgetower Capital to launch a $250 million crypto infrastructure platform for institutional investors in the Middle East.

• ARK 21Shares adjusts its spot Ether ETF application, adopting a cash-creation model and considering staking to generate extra income.

• Ethereum's Dencun upgrade, featuring "proto-danksharding," completes final testing on Holesky testnet, awaiting mainnet deployment.

• South Korea’s FIU investigates OKX over allegations of operating as an unregistered cryptocurrency exchange.

• UBS' Hong Kong subsidiary tokenizes an investment warrant on Ethereum blockchain in collaboration with OSL.

Crypto Fear & Greed Index

In the dynamic realm of cryptocurrency, today's market landscape reflects a noteworthy surge as Bitcoin (BTC) confidently breached the $44,000 mark, signaling a resurgence of bullish sentiment. The Crypto Fear & Greed Index, a barometer of market sentiment, currently stands at 66, indicating a prevailing sense of greed among investors. This marks a substantial increase from yesterday's reading of 62, reinforcing the escalating optimism within the crypto community. As historical values attest, the crypto market remains in a state of constant flux, responding to the intricate interplay of market forces and investor sentiment.

ATH coins

The instance a cryptocurrency reaches its highest market value, it secures a position among the distinguished ATH coins. This denotes a significant surge in coin demand, but it doesn't guarantee ongoing growth. Due to the pronounced volatility in the digital currency domain, thorough research and analysis are indispensable before considering investments in ATH coins. At present, the subsequent coins have emerged as exceptional performers, hitting notable ATH milestones in recent periods:

Bazaars (BZR) achieved a significant milestone today by reaching an all-time high (ATH) price of $5.37. Currently trading at $5.33, with a volume of $271,118, Bazaars stands out as a decentralized peer-to-peer (P2P) marketplace. The project has introduced the BZR ERC20 token on the Ethereum main net and is actively working on developing the Bazaars Blockchain and Bazaars Wallet, promising a decentralized and efficient trading ecosystem.

Zeebu (ZBU) also experienced an ATH today, reaching a price of $3.50, which it maintains at present. With a substantial trading volume of $10.6 million, Zeebu operates as a Web3 Neobank platform. Notably, the recent introduction of 'Zeebu PSP release update 4.0.0' showcases the platform's commitment to enhancing user engagement and introducing governance within its ecosystem.

Fluxbot (FLUXB) made waves on Solana's network by achieving an ATH price of $0.1512, currently priced at $0.1418, and boasting a trading volume of $1.14 million. As Solana's leading Telegram AI trading bot, Fluxbot facilitates next-generation trading, allowing users to buy and sell tokens across the Solana blockchain, including Token 2022/SPL+ tokens.

DeFrogs (DEFROGS) exhibited extraordinary performance with an ATH price of $2,730.22, maintaining its current value at the same level. The project involves a collection of 10,000 DeFrogs enabled by an adjusted version of ERC404, an experimental token standard providing persistent liquidity and semi-fungibility for Ethereum NFTs. With a notable trading volume of $27.42 million, DeFrogs represents an intriguing intersection of decentralized finance and non-fungible tokens.

Dymension (DYM) achieved an ATH price of $6.59, currently valued at $6.54, with a trading volume of $380.74 million. Following the success of the Dymension (DYM) mainnet, investors are turning their attention to this project and others that may offer similar returns in the ever-evolving landscape of cryptocurrency investments.

Top Movers (24H)

As the cryptocurrency market continuously demonstrates its credibility as a dependable investment platform, individuals who were initially cautious are now eagerly adopting it and expanding their investment portfolios with a diverse range of digital assets. Additionally, modern-day crypto investors are strengthening their positions, leading to significant price surges in various cryptocurrencies over the past 24 hours. Let's explore some familiar cryptocurrencies that have recently seen substantial price hikes.

Cellframe (CELL) has emerged as the top mover in the past 24 hours, experiencing a substantial surge of 53.46%. With the current price standing at $0.6759 and a trading volume of $1.38 million, Cellframe Network positions itself as a scalable, open-source platform for building and bridging blockchains and services. Notably, it incorporates post-quantum encryption for enhanced security, setting it apart in the rapidly evolving crypto landscape.

BitTorrent (New) (BTT) has soared with a 32.60% increase, resulting in a current price of $0.000001035. The trading volume for BitTorrent in the last 24 hours reached an outstanding $93.79 million. As a well-known peer-to-peer file sharing and torrent platform, BitTorrent has steadily decentralized in recent years, reflecting the evolution and adaptability of this widely-used network.

Nord Finance (NORD) has also witnessed a significant upswing of 35.52%, bringing its current price to $0.1854, with a trading volume of $283,643. Positioned as an advanced decentralized financial ecosystem, Nord Finance aims to simplify DeFi investing by incorporating key features of traditional finance.

GamerCoin (GHX) has seen a notable increase of 28.18%, with the current price at $0.05284 and a trading volume of $12.60 million. As the first licensed token for gamers, GamerCoin serves as the native utility token for the GamerHash platform. This platform, used by over 600,000 users, enables mining cryptocurrencies with gaming PCs, illustrating the intersection of gaming and cryptocurrency in the blockchain space.

GuildFi (GF) has jumped by 19.56%, reaching a current price of $0.193, and a trading volume of $5.00 million. GuildFi sets itself apart by serving as an infrastructure to onboard, connect, and add value to players, guilds, games, and investors alike. This unique approach to enhancing guilds positions GuildFi as an innovative player in the crypto market, focusing on the intersection of gaming communities and blockchain technology.

Non-Fungible Tokens – Developments

• Hakuhodo and Japan Airlines (JAL) unveil the second series of "KOKYO NFT" in February, transforming tourism with NFTs offering exclusive access to six immersive experiences across Japan.

• Polkadot achieves a groundbreaking milestone, setting a new blockchain speed record by minting an impressive 4,930 NFTs per minute, surpassing Solana and Polygon.

• Oasys collaborates with X2Y2 Pro, an NFT aggregator, enhancing NFT transactions and lending within its layer 2 ecosystem, including GESO Verse, DM2 Verse, and HOME Verse.

NFTs To Watch

In the past 24 hours, Mutant Ape Yacht Club has emerged as a standout in the NFT space. With a trading volume of 1362 ETH, representing a 231% change, this collection's floor price sits at 4.43 ETH, and it has witnessed 317 sales. Notably, Mutant Ape Yacht Club introduces a unique twist by allowing the creation of up to 20,000 Mutant Apes through exposure to MUTANT SERUM or by participating in the public sale, adding an intriguing layer to its narrative.

Lil Pudgys, another noteworthy collection, has garnered attention with a trading volume of 426 ETH and a change of 103% over the past 24 hours. The floor price for Lil Pudgys stands at 1.69 ETH, and the collection has recorded 275 sales. Originating from Pudgy Penguins, Lil Pudgys' significance lies in its integral role in the historical narrative of the Pudgy Penguins, with their story beginning during the most frigid winters, adding a unique and captivating aspect to the collection.

TENJIN has also shown remarkable activity in the past day, boasting a trading volume of 218 ETH and a significant change of 167%. With a floor price set at 0.49 ETH, TENJIN has recorded 455 sales. Tenjin is a blockchain-based platform launched in January 2024 on the Ethereum network, offering items priced at 7,999 with a creator earnings percentage set at 3%. 

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

Best Regards,
Crypto Recorder Team

P.S Got a question, suggestion or general feedback? Feel free to reply to this email. We'll get back to you asap!