Weekly Crypto Insights: Sentiment Trends, Star Performers, and NFTs

Dear Readers,

Bitcoin witnessed a notable setback on Thursday, January 4, with a substantial loss of 5.09%. Within a span of 24 hours, the cryptocurrency, previously valued at $45,201, slid down to $42,890. This decline coincided with a report from Matrixport, a crypto financial services firm, foreseeing the rejection of Bitcoin spot ETF proposals by the US Securities and Exchange Commission (SEC). Following Bitcoin's lead, Ether also experienced a downturn, registering a price slash of 6.32%. At the time of this writing, Ether is trading at $2,218.

Highlights Of The Week

• South Korea's top financial regulator proposes changes to credit finance laws, aiming to ban citizens from buying cryptocurrency with credit cards.

• Grayscale Investments in talks with JPMorgan and Goldman Sachs for a potential role in its spot Bitcoin exchange-traded fund (ETF).

• Tuttle Capital Management files for six leveraged and inverse Bitcoin ETFs in the United States, seeking "magnified" returns from a spot Bitcoin ETF.

• Cipher Mining acquires 16,700 new miners with hopes of being an industry winner in anticipation of the Bitcoin halving event in April.

• China's Legal Daily calls for a crackdown on bribery involving cryptocurrency and electronic payments, following discussions at the China Integrity and Legal Research Association meeting.

• Cboe accepts registration for listing shares of a spot Bitcoin ETF proposed by Fidelity Investments in the United States.

Crypto Fear & Greed Index

The Crypto Fear & Greed Index currently sits at 68, indicating a sentiment of greed, slightly down from yesterday's 70. Market turbulence stems from speculation around the possible rejection of all Spot Bitcoin ETFs by the SEC, as predicted by Matrixport. Though unconfirmed, this forecast has triggered concerns about the market's sensitivity to regulatory speculation, underscoring the impact such uncertainties can have on cryptocurrency sentiment.

ATH coins

As soon as a cryptocurrency reaches its all-time high market value, it solidifies its position among the distinguished ATH coins. This marks a significant increase in coin demand, though it doesn't ensure continuous growth. Due to the considerable volatility in the digital currency domain, in-depth research and analysis are necessary before considering investments in ATH coins. Currently, the following coins have emerged as outstanding performers, achieving noteworthy ATH milestones in recent times:

Creo Engine (CREO) has surged to new heights today, achieving an all-time high (ATH) price of $0.1442. The cryptocurrency derives its name from the Latin word "creo," embodying the notions of creation and belief in Spanish. CREO recorded the trading volume of $7.61 million in last 24 hours.

Rowan Token (RWN) has also reached its ATH today, hitting $0.199. The trading volume of Rowan Token totaled $806,625 within the last 24 hours. Operating on the Rowan Energy Blockchain, an Ethereum fork utilizing the Proof of Authority consensus, RWN showcases resilience and growth within the evolving blockchain landscape.

Sei (SEI) has exhibited remarkable performance, reaching an ATH price of $0.8755 today, with a trading volume of $1.59 billion. The rally in SEI's value is attributed to the increasing adoption of Ethereum Virtual Machine-compliant blockchains and the implementation of parallelization processes.

ApeX Protocol (APEX) made headlines yesterday, achieving an ATH price of $1.17. Trading volume for APEX in the past 24 hours was recorded at $28.83 million. Positive gains for this token were driven by a Jan. 2 announcement regarding the integration of smart contracts from Stacks to scale Bitcoin.

SaucerSwap (SAUCE) secured its ATH price of $0.0798 yesterday. Over the past 24 hours, SAUCE witnessed a trading volume amounting to $1.08 million. As the leading decentralized exchange protocol on the Hedera network, SaucerSwap distinguishes itself through the implementation of non-upgradable smart contracts focused on censorship resistance, security, and self-custody.

Top Movers (24H)

The cryptocurrency market is steadily gaining recognition as a trustworthy investment avenue, prompting individuals who were previously hesitant to embrace it and broaden their investment portfolios with a variety of digital assets. Additionally, modern-day crypto investors are bolstering their positions, resulting in significant price surges in several cryptocurrencies within the past 24 hours. Let's explore a few well-known cryptocurrencies that have recently witnessed price increases.

ritestream (RITE) has emerged as a standout, with its current price soaring to $0.02105, reflecting a surge of 164.47%. The trading volume for ritestream stands at $2.91 million. Ritestream, dedicated to democratizing the creator economy in Film and Television, operates across four key domains: Streaming, Cryptoknights, Metaverse, and Launchpad.

Powerledger (POWR) has also demonstrated growth, boasting a current price of $0.6407, marking a notable increase of 74.35%. The trading volume for Powerledger stands at $851.32 million. Positioned as a technology company, Powerledger specializes in developing software for distributed and decentralized energy markets, contributing to a sustainable future.

Hivemapper (HONEY) has soared by 53.50%, currently priced at $0.2006, with a trading volume of $16.72 million. Notably, Coinbase, the largest cryptocurrency exchange in the USA, has added the Hivemapper altcoin to its roadmap for evaluation and potential listing.

Guild of Guardians (GOG) has seen an uptick of 45.51%, reaching a current price of $0.2045, with a trading volume of $3.99 million. Positioned as a multiplayer fantasy action RPG on Immutable X, Guild of Guardians aims to establish itself as the world’s most popular RPG, where players can assemble a set of Guardians and earn rewards in the process.

Chromia (CHR) has jumped by 26.97%, with a current price of $0.2845 and a substantial trading volume of $102.92 million. Chromia operates as a relational blockchain platform, striving to simplify the development of decentralized applications (DApps) for wider accessibility.

Non-Fungible Tokens – Developments

• OKX NFT Marketplace now supports Aptos inscriptions, facilitating the trading of APT20 inscriptions and other collectibles with enhanced accessibility.

• Former Premier Sean Chen suggests the issuance of a non-fungible token (NFT) by the incoming president in May instead of the traditional commemorative coin.

• On January 1, 2024, "Steamboat Willie" and Mickey Mouse's first illustration enter the public domain, resulting in NFT creation, including a midnight release of the iconic image.

NFTs To Watch

Pudgy Penguins has made significant waves in the NFT market over the last 24 hours, boasting a substantial trading volume of 3512 ETH and a change percentage of 55%. With a floor price of 11.29 ETH and a total of 319 sales, this collection of 8,888 NFTs stands out not only for its financial success but also for its commitment to accelerating Web3 innovation through IP utilization.

Azuki, in the same timeframe, has garnered attention with a trading volume of 2519 ETH and a change percentage of 25%. Priced at a floor of 6.69 ETH and experiencing 399 sales, Azuki introduces a collection of 10,000 avatars that grant membership access to The Garden. This unique online space serves as a meeting point for artists, builders, and web3 enthusiasts, fostering creativity and collaboration to shape a decentralized future.

Skyborne - Nexian Gems has experienced an extraordinary surge in the past 24 hours, with a trading volume of 371 ETH and change percentage of 1223%. Priced at a floor of 1.35 ETH and with 368 sales, these limited gems play a crucial role as Proof of Collective within the Skyborne Legacy ecosystem. Beyond their financial value, Nexian Gems provide holders with special privileges, making them a coveted asset in the NFT landscape. 

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

Best Regards,
Crypto Recorder Team

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