Cryptocurrency Weekly: Market Slump, Top Gainers, Hot ICOs & Airdrops

Dear Readers,

Cryptocurrency markets endured a slump on Tuesday, with major coins like Bitcoin and Ethereum leading the decline. The total value of all cryptocurrencies dipped by 1.8% to roughly $2.34 trillion within a 24-hour window.

Bitcoin had shed 1.84% of its value, trading at $64,153. Ethereum fared worse, plummeting 3.35% to $3,110. This negative sentiment was likely fueled by two key events: sizeable transfers out of FTX-linked accounts and news of the SEC issuing a Wells Notice to Robinhood. The latter alleges that Robinhood offered unauthorized trading in digital assets that the SEC classifies as securities.

Highlights Of The Week

• Polygon launches alpha version testnet of Miden ZK-rollup amid Ethereum scaling competition.

• SEC delays decision on Invesco Galaxy's spot Ether ETF application, extending deadline to July 5.

• Marathon Digital discusses Kenya's crypto policy and energy needs for mining with government.

• Hong Kong's spot Bitcoin ETFs lag behind US counterparts in debut week.

• Hermetica introduces first Bitcoin-backed synthetic USD with yield in Bitcoin-native DeFi.

• SEC issues Wells notice to Robinhood trading platform.

• Tiger Brokers brings cryptocurrency support to its Tiger Trade app in Hong Kong.

• South Korea excludes digital currencies from amended donation legislation, impacting charities and donation drives.

Top Weekly Gainers

Though the crypto market is known for its volatility, savvy investors are on the hunt for this week's rising stars with the potential to boost their returns. By closely following trends and price movements, these traders can capitalize on opportune moments and potentially redefine their investment strategies for greater success. This week has been particularly active, with both established and emerging cryptocurrencies experiencing significant gains.

Leading the charge was SolCex (SOLCEX), a centralized exchange built on the Solana blockchain. SOLCEX witnessed a meteoric rise of 758.45%, currently priced at $0.02219 with a trading volume of $13.91 million. This surge suggests a growing appetite for user-friendly platforms that leverage the power of the Solana blockchain.

Close behind was Catwifhat (CWIF), a meme token that rose to prominence within the Solana community in early 2024. Buoyed by airdrops to over 400,000 holders, CWIF soared by 111.29% over the past seven days. Its current price sits at $0.0000005862, with a trading volume of $5.33 million.

Sticking with the meme theme, Eggdog (EGG) also witnessed a notable jump of 98.73% over the past week. This token, inspired by a 3D model of an egg-shaped dog, is currently priced at $0.004086 and has a trading volume of $1.04 million. The community behind Eggdog is actively pushing for a price breakout through increased buying pressure.

Shifting gears from the whimsical world of meme tokens, Augur (REP) – a protocol built on the Ethereum blockchain that leverages prediction markets – displayed a healthy increase of 35.05% over the past week. Currently priced at $1.25 with a trading volume of $2.79 million, Augur's rise underscores the continued interest in decentralized prediction platforms.

Rounding out the list of Weekly gainers is Render (RNDR), a distributed GPU rendering network built on Ethereum. RNDR facilitates connections between artists and studios requiring GPU processing power and miners willing to rent out their capabilities. Over the past week, RenderToken (RNDR) experienced a price appreciation of 34.54%. Its current price sits at $10.35 with a staggering trading volume of $414.31 million.

Top Weekly Losers

Within the constantly evolving domain of cryptocurrencies, weekly narratives emerge, showcasing victories and challenges. Individuals immersed in this space contend with regulatory shifts, market uncertainties, and undue media focus, reaching a critical juncture. Despite setbacks, this week presents traders and investors with a pivotal opportunity to evaluate strategies and chart a course for success. Noticeable downturns were witnessed in several cryptocurrency tokens over the past week.

Renzo (REZ) has been hit the hardest in the past week, experiencing a plunge of over 42.10% in its price. Despite being a Liquid Restaking Token (LRT) and Strategy Manager for EigenLayer, offering higher yields than ETH staking, its current price sits at $0.1503. The trading volume for REZ is at $114.41 million.

Ambire Wallet (WALLET), a new-generation, full-featured cryptocurrency wallet designed for a wide range of users, has also seen a significant decline. Its price has plummeted 31.02% over the past 7 days, bringing it down to $0.01965.

UNICE (UNICE), the AI-powered blockchain messenger that bridges language barriers, has experienced a price decline of 25.52% in the last week. UNICE maintains a trading volume of $2.25 million and its current price sits at $0.05845.

Vertex Protocol (VRTX), a hybrid orderbook-AMM DEX built on Arbitrum L2, has seen its price fall by 18.71% over the past week. Currently priced at $0.1366, VRTX trading volume remained at $3.26 million. Vertex offers unified margin across spot, perpetuals, and lending for 23+ markets with low fees.

Orion (ORN), a suite of DeFi trading products offering aggregated liquidity, has seen its price decline by 15.64% in the last week. Despite the drop, ORN maintains a trading volume of $6.66 million. The current price of ORN sits at $1.39.

Hot ICOs To Watch Out For

Active ICOs

First up is CratD2C, a blockchain platform aiming to revolutionize the industry. Their innovative approach combines the security of Delegated Proof of Stake (DPoS) with Layer-1 architecture, promising unmatched speed and scalability. Their ICO is already underway, having started on April 8th and running until May 31st. So far, they've raised $200,000 towards their $5,000,000 goal.

Next, we have 5th Scape, a project bringing exclusive VR experiences to the masses. Their 5SCAPE Coin acts as a key, unlocking unique VR content and special in-game features, fostering a vibrant community within the virtual reality landscape. Their ICO began on April 9th and is still ongoing, with a target of $15,000,000. They've already surpassed $5.5 million raised.

Finally, there's X RAYS, a DeFi project focused on simplifying the development and monetization of decentralized applications (dApps). Their X RAYS Builder Protocol streamlines the process for DeFi Money Markets, while their user-centric xMarketplace with gamified incentives aims to further enhance the user experience. Their ICO started on April 10th and will close on May 30th. They've secured $400,000 towards their $2,000,000 goal so far.

Upcoming ICOs

The month of May promises a fresh wave of innovation in the cryptocurrency space with several exciting upcoming ICOs.

First up is Umoja, a DeFi protocol launching its ICO on May 15th. This project empowers users by enabling them to build their own self-sustaining financial instruments, a unique proposition for those interested in the ever-evolving world of DeFi. Their ambitious fundraising goal sits at $10 million.

Gamers, rejoice! Legends of Elysium, an innovative strategic play-to-earn card game set in a fantastical world, is also gearing up for an ICO sometime in May. Though the exact date remains under wraps, they aim to raise $2,070,000 to bring their vision to life. This project offers a captivating blend of strategic gameplay and the potential for earning within the game's ecosystem.

Rounding out the upcoming offerings is Arrow Markets, whose ICO date is yet to be announced. This project focuses on solving the challenges faced by cryptocurrency traders, offering a comprehensive solution specifically tailored to their needs. With a fundraising target of $1,650,000, Arrow Markets aims to make navigating the crypto market smoother and more efficient.

Ended ICOs

Trailblaze, a platform facilitating investments across various stages including pre-seed, IDOs, INOs, and NFT drops, concluded its ICO on May 4th, 2024. The fundraising campaign achieved its target goal of $1,430,000, signifying continued investor interest in the platform's offerings.

Mocaverse, the membership NFT collection for Animoca Brands' vast network of companies, projects, investments, shareholders, and partners, wrapped up its ICO on May 2nd, 2024. The offering surpassed its initial target, raising a total of $36,890,000. This achievement highlights the appeal of Mocaverse's NFT collection within the blockchain community.

Finally, XSwap, the first cross-chain swaps protocol powered by CCIP on the Chainlink network, finalized its ICO on April 30th, 2024. The fundraising effort secured $2,100,000, demonstrating investor confidence in XSwap's ability to revolutionize cross-chain swaps.

Hottest Airdrops

MYTH

• Go to the MYTH Zealy airdrop page.

• Connect via Discord, WalletConnect, or email.

• Complete social tasks for free XP.

• Also, do quiz and true or false tasks for more XP.

• Higher XP means a higher rank on the leaderboard.

• Participants can share 6,250,000 MYTHx tokens.

• Tokens worth an estimated $1,000,000 on TGE.

• Check the official announcement for more details.

Primex

• Visit the Primex x CoinList rewards campaign page.

• Go to the Primex Onboarding Quest page.

• Connect your wallet.

• Complete onboarding quizzes for points.

• Click "Earn more points" to join "Contribute and Earn."

• Trade and provide liquidity for more points.

• Earn points based on on-chain Primex activity.

• Track progress on Achievements Page.

• Campaign lasts 12 weeks, with six phases of two weeks each.

• Snapshots taken at the end of each phase for rewards.

• For more info, check this page.

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. I'll get back to you asap!