Weekly Crypto Briefing: Top Coins, NFT Trends, and Greed Index Update

Dear Readers,

Cryptocurrency prices dipped on Thursday, with major tokens like Bitcoin, Solana, and Avalanche leading the decline. Bitcoin (BTC) fell modestly by 0.57%, reaching $69,615 in early trading. Ethereum (ETH), however, defied the downtrend, rising over 0.85% to $3,800. Other prominent tokens like Solana (SOL), Dogecoin (DOGE), and Shiba Inu (SHIB) experienced losses ranging from 1.3% to 3.55%. Conversely, Toncoin, NEAR Protocol, and Polygon saw gains of up to 3%. The global cryptocurrency market capitalization mirrored the bearish sentiment, dropping 0.55% to roughly $2.59 trillion over the past 24 hours.

Highlights Of The Week

• The Bitcoin Runes protocol struggles to maintain its share of Bitcoin transactions; Runes transactions have dominated Bitcoin blockchain traffic on eight different days since April 20, mostly on weekends.

• The number of U.S. adults reporting crypto ownership or usage dropped to around 18 million in 2023, according to the Federal Reserve's latest annual household survey.

• Crypto investor Brian Kelly sparked debate on Crypto X after suggesting Solana (SOL) could be the next cryptocurrency to get a spot exchange-traded fund (ETF) in the U.S.

• The U.S. House of Representatives approved H.R.4763, the Financial Innovation and Technology for the 21st Century (FIT21) Act, with a 279 to 136 vote to establish regulatory clarity over digital assets.

• Three additional U.S.-based asset managers with spot Ether exchange-traded fund applications have amended their 19b-4 filings with the SEC.

• U.S. Congress members want to know what the SEC and FINRA discussed when the SEC established Special Purpose Broker-Dealer (SPBD) requirements, suspecting an unwelcome precedent with crypto services provider Prometheum.

• MetaMask is reportedly working to support native Bitcoin, joining other firms expanding services and products across the Bitcoin ecosystem.

• Binance.US won its appeal against the suspension of its money-services business license in Florida, with the court finding the emergency suspension order lacked legal justification.

• Hong Kong’s Office of the Privacy Commissioner for Personal Data concluded its inquiry into the Worldcoin project, finding that its operations in Hong Kong violated the Personal Data (Privacy) Ordinance (PDPO).

• 5,400% on Ethereum
• 10,800% on Chainlink
• 23,400% on Cardano

Crypto Fear & Greed Index

Showing no signs of abating, the Crypto Fear and Greed Index remains firmly entrenched in "Extreme Greed" territory. Today's reading of 76 mirrors yesterday's, highlighting the persistent bullish sentiment gripping cryptocurrency investors. This unwavering optimism, however, could be a double-edged sword. Historically, extreme greed readings on the index have often preceded market corrections. With investor exuberance reaching such a peak, it's worth noting that a potential pullback in prices could be looming on the horizon.

ATH coins

Reaching an all-time high (ATH) epitomizes a cryptocurrency's ascent to the upper echelons, indicative of a notable upswing in demand. Nevertheless, volatility characterizes this market. Thorough research is indispensable before considering investments in ATH coins. Here are some recent standout performers hitting ATH milestones.

In a surprising turn of events, Joe coin (JOE), a meme coin based on the internet sensation "emoti guy", skyrocketed to an all-time high of $0.02471 today. However, the price quickly dipped to $0.02329, with a current trading volume of $1.91 million.

Zack Morris (ZACK), a coin named after the renowned Wall Street meme-stock trader, also reached its all-time high of $0.1017 today. Similar to Joe, ZACK's price has fallen slightly to $0.09405. However, it boasts a significantly higher trading volume of $29.2 million compared to Joe.

Seamans Token (SEAT), a cryptocurrency designed specifically for the maritime industry, achieved a new peak of $18.48 today. Unlike the other two, SEAT's price has remained relatively stable, currently sitting at $18.46. The daily trading volume for SEAT is $422,909.25.

NeuralAI (NEURAL), a project utilizing AI for 3D game asset generation, witnessed a surge in its price today, reaching an all-time high of $3.13. Despite a slight correction, NEURAL is still holding onto most of its gains, currently priced at $2.98. The daily trading volume for NEURAL is $851,440.81.

ArcBlock (ABT), a blockchain development platform, reached its all-time high of $4.70 yesterday. Although the price has dipped to $4.24 today, it remains considerably higher than usual. The current trading volume for ABT is $10.63 million. ABT is a blockchain 3.0 development platform for easy App creation, deployment, and management.

Top Movers (24H)

The cryptocurrency market's consistent performance as an investment avenue has prompted former skeptics to fully embrace it, enhancing their investment portfolios with diverse digital assets. Additionally, seasoned crypto investors are solidifying their positions, driving notable price surges across different cryptocurrencies in the past day. Let's closely analyze a selection of well-known cryptocurrencies that have recently observed significant price hikes.

Leading the charge is Minati Coin (MNTC), a forward-thinking project at the intersection of blockchain technology and the metaverse.  MNTC skyrocketed 34.46% in the last 24 hours, reaching a current price of $4.00 with a trading volume of $2.09 million.

Open Campus (EDU) isn't far behind, soaring 32.95% in the same period. EDU currently sits at $0.948, backed by a robust trading volume of $148.77 million. This surge coincides with news of Animoca Brands, a major force in crypto gaming, actively acquiring more EDU tokens. This move signifies a strong vote of confidence for the EDU Foundation.

The memecoin scene is also heating up with Turbo (TURBO) making a splash. This unique project, the first-ever memecoin created by artificial intelligence, has jumped 24.89% in the past day.  TURBO is currently priced at $0.00194 with a trading volume of $54.33 million. Its creation serves as a testament to the growing influence of AI in various industries.

Meanwhile, KlimaDAO (KLIMA) is up 23.80%, reaching a current price of $3.43. This positive momentum follows a partnership with Japan's largest bank, MUFG. The collaboration explores the use of the JPYC stablecoin for settling tokenized carbon credit transactions on the Progmat blockchain platform. KLIMA's trading volume currently sits at $3.55 million.

Rounding out the list of top movers is SmarDex (SDEX). This innovative DEX is poised to revolutionize the space, and that promise is reflected in a 21.68% gain over the past day. The current price is $0.01988, with a trading volume of $5.76 million. With several strong performers across diverse sectors, the cryptocurrency market is offering exciting opportunities for investors.

Non-Fungible Tokens – Developments

• NFT Workx announced the launch of the latest version of its Asset Workx mobile app, designed for the tokenization and management of digital and physical assets.

• Ragnarok: Monster World announced the Nyang Kit NFT Mint event scheduled for May 28 at 9:00 EST, as per a blog post by Ronin, the EVM-compatible network developed by Sky Mavis.

• Coffeezila's Stephen exposed Rabbit firm's attempt to conduct a Gama NFT-like scam and cover it up in a video published on May 21, 2024, detailing how the AI company Rabbit established and tried to hide the NFT scam.

NFTs To Watch (24H)

Mocaverse takes the lead today among these NFTs with a staggering trading volume of 279 ETH. This represents a massive 209% increase in activity over the past 24 hours. The current floor price to join the Mocaverse sits at 4.1 ETH, and there have been 74 total sales in the last day. Mocaverse boasts a collection of 8,888 unique beings called Mocas divided across five tribes: Angels, Builders, Dreamers, Connectors, and Neo-Capitalists. Ownership of a Moca NFT grants membership to the Animoca Brands collection.

Bored Ape Yacht Club (BAYC) comes in second with a daily trading volume of 140 ETH. This translates to a 59% increase in activity compared to yesterday. The floor price of a BAYC NFT currently stands at 13.49 ETH, and there have been 11 sales in the past 24 hours. BAYC is a collection of 10,000 unique Bored Ape NFTs residing on the Ethereum blockchain.

Doodles rounds out the list with a trading volume of 118 ETH, reflecting a significant 212% surge in activity over the past day. The current floor price for a Doodles NFT is 1.88 ETH, and there have been 68 sales within the last 24 hours. The Doodles Original Collection, created by renowned artist Burnt Toast, features 10,000 unique characters, marking the inception point for this popular NFT collection.

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!