This Week in Cryptocurrency: Leading Gainers, Significant Declines, and Promising ICOs on the Horizon

Dear Readers,

In recent developments, major cryptocurrencies have gained momentum. Bitcoin (BTC) surged by over 4.77% in the last 24 hours, reaching a value of $70,856. Similarly, Ethereum (ETH) rose by 5.53%, currently trading at $2,616. Several other altcoins also saw upward trends, with XRP increasing by 2.15%, Toncoin by 1.75%, Avalanche by 5.92%, and Shiba Inu by 7.64%. Consequently, the total global cryptocurrency market capitalization grew by 4.58%, reaching $2.4 trillion.

Highlights Of The Week

• Bitcoin surpasses $70,000 for the first time since June 10, driven by strong inflows into U.S. spot Bitcoin ETFs.

• Coinbase is among the first U.S.-based cryptocurrency exchanges to resume sports sponsorships following the FTX collapse.

• Kalshi will begin accepting deposits in USD Coin as it competes for users ahead of the upcoming U.S. elections in November.

• The Hong Kong Monetary Authority (HKMA) has formed new collaborations for its tokenization-focused Project Ensemble, linking it with Brazil's Drex pilot project and Thailand's Project San.

• FV Bank has launched new debit and corporate cards in partnership with Visa, enabling customers to access both fiat and cryptocurrency balances through its digital asset custody services.

Top Weekly Gainers

In the fast-paced realm of cryptocurrency, where fluctuations are commonplace, skilled traders distinguish themselves by identifying the Top Weekly Gainers that present significant profit potential. By remaining vigilant and attentively observing market trends and price movements, investors can take advantage of these opportunities, potentially enhancing their investment strategies for improved outcomes.

In the latest market updates, several tokens have shown notable activity. MSTR2100 (MSTR)is currently priced at $1.77 with a change of 175.20%. Its trading volume stands at $5.10 million. What makes MSTR2100 attractive to traders is its unique combination of traditional business and cryptocurrency investing. While MicroStrategy continues to generate stable revenue from its software business, its significant crypto holdings add an element of volatility, offering high profit potential.

On the other hand, MAGA (MAGA), priced at $0.0002707, has experienced a 91.91% change with a trading volume of $36.09 million. MAGA represents a light-hearted, meme-fueled cryptocurrency that is gaining popularity in the digital world, capturing the essence of internet culture with its humorous and revolutionary approach.

Goatseus Maximus (GOAT), priced at $0.6762 with a 68.98% change and a trading volume of $314.04 million, is a meme-inspired token that carries the weight of ancient prophecies among its followers, having been originally created by truth_terminal.

Santos FC Fan Token (SANTOS), currently valued at $5.35 with a 55.81% change and a trading volume of $453.17 million, gained traction after Binance announced its listing. Launched by a partnership between Santos FC and Binance Launchpool, it offers fans a unique way to engage with their favorite football club.

Finally, PUPS•WORLD•PEACE (PUPS), priced at $0.1644 with a change of 48.01% and a trading volume of $2.87 million, is a community-driven memecoin with roots in the Bitcoin Puppets community. Launched in April 2023, PUPS transitioned to the Runes token standard and continues to thrive under community leadership.

Top Weekly Losers

The cryptocurrency market is ever-evolving, presenting both successes and setbacks. The "Top Weekly Losers" list emphasizes the difficulties brought on by fluctuating regulations, market instability, and media influence. However, this week provides traders and investors with a valuable chance to reevaluate their approaches and aim for better outcomes.

This week, several notable digital assets have shown significant price movements. Scroll (SCR), a Layer 2 scaling solution leveraging zkRollup technology to enhance Ethereum’s efficiency, is currently priced at $0.776, marking a decline of 44.42%, with a trading volume of $84.43 million.

Reef (REEF), a Layer 1 blockchain built for DeFi, NFTs, and gaming, has dropped 27.78%, now trading at $0.001501 with a volume of $23.43 million. Despite its decline, Reef’s use of the Substrate Framework enables highly scalable, low-cost transactions and compatibility with Ethereum DApps.

Meanwhile, Saga (SAGA), a Layer 1 protocol offering developers infinite horizontal scalability through its “Chainlets,” is priced at $2.01, a 26.24% decrease, with a similar trading volume of $84.44 million.

OG Fan Token (OG), created for fans of OG Esports—renowned for their dominance in Dota 2—trades at $6.15 after an 18.48% drop, with a volume of $114.03 million.

Finally, Radiant Capital (RDNT), aiming to create an omnichain money market across multiple blockchain networks, has experienced an 18.34% drop, with its price now at $0.05007 and a trading volume of $14.12 million.

Hot ICOs To Watch

Active ICOs

Several high-profile initial coin offerings (ICOs) are currently active, presenting unique opportunities for investors. Sonic Labs, previously known as Fantom, is a layer-1 platform that serves as a secure gateway to Ethereum. With an impressive throughput of over 10,000 transactions per second (TPS) and one-second confirmation times, it stands out as the fastest settlement layer for digital assets. Having already raised $10 million in two funding rounds, its sale runs from September 2, 2024, to November 1, 2024.

deBridge (DBR) is a cross-chain interoperability and liquidity transfer protocol, enabling fully decentralized asset transfers across various blockchains. After raising $10.5 million over three rounds, deBridge’s sale started on April 23, 2024, and will continue until November 5, 2024.

Lastly, the Renzo Protocol (REZ), built on the EigenLayer framework, is a restaking protocol that has raised $20.2 million in five rounds. Its ICO began on December 6, 2023, and will conclude on November 30, 2024.

Upcoming ICOs

Earn’M (EARNM) will have its IDO on Finceptor, starting on October 29, 2024, and closing on October 30, 2024. With a fundraising goal of $200,000, EARN’M is creating an ecosystem that revolutionizes how we use everyday devices, much like the disruption caused by Airbnb and Uber.

Huddle01 is set to launch its sale on November 8, 2024, following its success in raising $4.5 million across two rounds. This innovative project is enhancing audio and video communication through a multi-faceted approach that includes a video meeting platform, a/v infrastructure, and a decentralized real-time communication (dRTC) network.

0G will open its sale on November 11, 2024, after securing $35 million in three funding rounds. As the first modular AI chain, 0G is designed to harness the power of Web3's modular infrastructure and advanced tools, ushering in a new era of generative AI within Web3.

Ended ICOs

Several exciting projects have successfully concluded their fundraising rounds, showcasing innovation across the blockchain and gaming sectors. K4 Rally (K4R), a pioneering blockchain-based rally racing game that merges real-world rallying with Play&Earn gaming, completed its IDO on Spores, raising $150K by October 27, 2024.

Meanwhile, Blast (BLAST), an L2 solution with native yield capabilities for ETH and stablecoins, raised an impressive $20M across two rounds by Q4, 2024.

Additionally, Boundlesspay (BPAY), a mobile banking solution that integrates digital wallets and debit cards for global digital currency transactions, secured $1.1M through seven rounds, wrapping up its IDO on KingdomStarter by October 22, 2024.

Hottest Airdrops

Kelp DAO

• Start by navigating to the airdrop page of Kelp DAO.

• Link your preferred crypto wallet to proceed.

• Deposit Assets into the Airdrop Gain Vault

• Deposit any of the following supported assets:

o   ETH

o   stETH (Lido's Liquid Staking Token)

o   ETHx (Stader's Liquid Staking Token)

o   rsETH (Kelp’s Liquid Reward Token)

o   Upon deposit, the vault issues agETH, a liquid ERC-20 token representing your staked assets.

• Upon deposit, the vault issues agETH, a liquid ERC-20 token representing your staked assets.

• The deposited assets will be bridged to partner Layer 2 networks, such as Scroll, Karak, and Linea, making them eligible for airdrop rewards.

• You can deploy your agETH on the mainnet into Pendle, allowing you to earn additional DeFi yields.

• To withdraw your assets, navigate to the ‘Withdraw’ section on the platform.

• Specify the amount of agETH you want to withdraw.

• Click ‘Withdraw’ and approve the transaction in your wallet.

• Your assets will be transferred back to you in rsETH within 3–4 days.

• By participating, users will also have the chance to earn free points from Linea, Scroll, Karak, Kelp, EigenLayer, and August, with more reward options expected to be added in the future.

CryptoCasino

• Start by navigating to the official airdrop page for CryptoCasino.

• Sign in using your email address, Discord, or WalletConnect for seamless access.

• Engage in various social media tasks to earn free XP. The more tasks you complete, the more XP you gain.

• To increase your chances of receiving a larger share of the airdrop, complete as many tasks as possible.

• A total of 100,000,000 CASINO tokens are set aside for this airdrop round. Secure your portion by actively participating.

Best Regards,
Crypto Recorder Team

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