Navigating the Crypto World: Key Market Shifts, Notable Tokens, and the Growth of NFTs

Dear Readers,

The crypto market faced selling pressure at higher price levels on Thursday, which impacted most assets, including Bitcoin (BTC). Currently, Bitcoin is trading at $95,493, marking a 2.46% decline. Major altcoins followed a similar downward trend, with Ethereum (ETH), Tether, XRP, Solana, Dogecoin, Cardano, Tron, Shiba Inu, Toncoin, and Avalanche all experiencing losses of up to 5%. After a strong rally fueled by President-elect Donald Trump’s re-election, the market has entered a period of consolidation. Bitcoin, for instance, has pulled back 11% from its all-time high of $108,268.45. As of now, the global crypto market cap stands at $3.32 trillion, reflecting a 2.89% drop in the last 24 hours.

Highlights of The Week

• Real-world asset tokenization could become a multitrillion-dollar industry by 2030, according to Boston Consulting Group.

• Solana-based platform Agridex completed its first on-chain coffee trade, paving the way for cost-effective agricultural commodity transactions.

• ApeX Protocol ranked blockchain-friendly regions based on patents, jobs, and crypto exchanges, with Singapore emerging as the global leader.

• Memecoins dominated investor interest in 2024, with Solana-based tokens leading, followed by those on Coinbase’s Base blockchain, per a CoinGecko study.

• Japan's Prime Minister expressed uncertainty about adopting a Bitcoin strategic reserve due to insufficient information on global plans.

• Floki DAO proposed launching an exchange-traded product (ETP) in Europe, potentially making it the second memecoin with a registered ETP after Dogecoin.

• Israel's asset managers will launch six mutual funds tracking Bitcoin's price movements on Dec. 31, following regulatory approval.

• Russia is leveraging digital financial assets and Bitcoin for foreign trade in compliance with its legal framework, according to its Finance Minister.

Crypto Fear & Greed Index

The Crypto Fear & Greed Index surged to an "Extreme Greed" level of 79, up from 73, which was categorized as "Greed," within just 24 hours. This shift underscores a nuanced change in market sentiment and comes on the heels of Bitcoin's recent price adjustment after reaching its all-time high earlier this month. While the market experienced a dip, the persistently elevated index suggests robust investor enthusiasm and a strong appetite for market activity.

ATH Coins

Reaching an all-time high (ATH) marks a major milestone for any cryptocurrency, reflecting robust market performance and increasing confidence among investors. However, the inherent volatility of the crypto market underscores the importance of strategic decision-making. Conducting in-depth research is essential, especially when evaluating investments at elevated price levels. The cryptocurrency market has seen significant activity, with several tokens achieving ATH on today.

Bitget Token (BGB) achieved a new all-time high (ATH) of $6.86 today and is currently trading at $6.72, with a daily trading volume of $1.08 billion. BGB offers several utilities, including staking, social trading, profit sharing, and discounts on trading fees, as well as providing access to launchpad and launchpool events.

GateToken (GT) also reached a new ATH of $17.02 today, but is now trading at $15.96 with a daily volume of $33.28 million. GT is mainly used for transaction fee payments and staking to earn rewards for securing the network.

AIXBT, the AI-driven market intelligence platform by Virtuals, hit an ATH of $0.3764 today and is now priced at $0.3577, with a trading volume of $58.15 million. It offers valuable strategic insights to token holders.

Prefrontal Cortex Convo Agent (CONVO) saw its ATH of $0.07456 today, with its current price at $0.06251 and a daily volume of $3.87 million. This token supports AI-powered virtual assistant platforms, enhancing advanced conversational experiences.

Redbelly Network (RBNT), which utilizes zero-knowledge proofs (ZKP) and verifiable credentials for secure transactions, reached an ATH of $0.4812 today. It is currently priced at $0.4277, with a trading volume of $5.26 million.

Top Movers (24H)

The cryptocurrency market is steadily gaining traction as a legitimate investment avenue, drawing in skeptics who are now diving into digital assets with fresh interest. Experienced investors are also ramping up their holdings, fueling notable price surges in the past 24 hours. Let’s take a closer look at the standout cryptocurrencies currently making headlines.

Token Metrics AI (TMAI) has experienced a significant 46.60% increase over the past 24 hours, now priced at $0.008228 with a trading volume of $4.05 million. TMAI is an innovative token that aims to empower the crypto community by offering access to advanced AI tools and insights.

Bitget Wallet Token (BWB) has risen by 44.17% in the last 24 hours, currently trading at $0.5656 and with a trading volume of $29.17 million. As the core asset of the Bitget Wallet ecosystem, BWB not only grants holders governance rights but also offers access to exclusive rewards in the future.

Phala Network (PHA) has surged by 42.04%, reaching $0.2881 with a trading volume of $348.42 million. Serving as the Execution Layer for Web3 AI, Phala Network enables artificial intelligence to interact with blockchain systems, unlocking new possibilities for Web3 and aiming to onboard the first billion users.

Viberate (VIB), priced at $0.139 after a 35.30% increase, is trading with a volume of $34.32 million. Operating on the Ethereum platform, Viberate continues to drive blockchain and crypto innovations, gaining attention due to its unique applications and growing influence within the crypto space.

PAID (PAID) has risen by 24.75%, currently priced at $0.09561, with a trading volume of $211.65K. Focused on tokenizing risks, PAID is a decentralized crowdfunding protocol that is transforming how Web3 projects raise capital.

Non-Fungible Tokens – Developments

• Two 23-year-olds from California were arrested for allegedly defrauding investors of over $22 million in crypto assets through NFT rug pulls.

• Ethereum blockchain’s NFT market achieved $304 million in sales, a 76% increase from the previous week, dominating 66% of total NFT sales volume.

• Azuki's trading volume surged 40% to over $1.9 million after founder Zagabond teased a new NFT coin, fueling excitement in the NFT and crypto communities.

NFTs To Watch (24H)

The Pudgy Rods NFT collection has seen an impressive surge in trading activity over the past 24 hours. With a volume of 325 ETH, this represents a significant 424% increase in volume. The current floor price stands at 1.2839 ETH, with 255 sales recorded. Launched in August 2021, the collection consists of 7,394 unique digital assets, offering a fun and playful theme to the NFT space on the Ethereum blockchain.

Lil Pudgys is another rising star in the NFT market, with a trading volume of 1,134 ETH, reflecting a 154% increase in volume. The floor price has reached 2.668 ETH, with 426 sales completed. This collection, originating from the popular Pudgy Penguins, includes 22,222 NFTs. As part of the Pudgy Penguins legacy, Lil Pudgys have become an important piece of the broader Pudgy Penguins history and community.

Pudgy Penguins collection continues to command significant attention, with a trading volume of 1,456 ETH, marking a 53% increase in volume. The floor price is currently 24.09 ETH, with 60 sales in the last 24 hours. This collection, which consists of 8,888 NFTs, plays a key role in advancing Web3 innovation, particularly through the utilization of intellectual property and the empowerment of its vibrant community.

 
Best Regards,
Crypto Recorder Team

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