Weekly Crypto Overview: Changing Sentiments, High-performing Coins, and Notable NFT Moments

Dear Readers,

Bitcoin experienced its sixth consecutive day of gains on Thursday, reaching a value exceeding $62,000 for the first time since November 2021. This surge was fueled by increased investments in new US spot bitcoin exchange-traded funds and anticipation of the upcoming bitcoin halving scheduled for April.

The leading cryptocurrency globally saw a 6.64% increase, reaching $62,629, marking its highest value since November 2021. Simultaneously, Ethereum also rose by 4.92% to $3,465, achieving another two-year high. Furthermore, the overall cryptocurrency market cap witnessed a notable 5.77% surge, reaching nearly $2.32 trillion in the past 24 hours.

Highlights Of The Week

• South Korea's People Power Party indefinitely delays proposal to ease cryptocurrency restrictions, including lifting the ban on local spot Bitcoin ETFs.

• US Bitcoin ETFs report a record daily inflow of $676.8 million, reaching an all-time high for the ecosystem.

• Former director of Australian crypto firm Blockchain Global temporarily banned from leaving the country amid probe into the firm's collapse and $37 million debt to creditors.

• Marathon Digital, a US Bitcoin mining giant, experiences a surge in revenues in 2023 but sees a dip in company stock following the release of its Q4 revenue report.

• Marathon Digital ventures into Bitcoin scaling with a newly announced multichain layer-2 network called Anduro.

• Binance faces increased scrutiny in Nigeria over "suspicious flows" of funds through Binance Nigeria in 2023, with the Central Bank, Securities and Exchange Commission, and other government agencies expressing suspicion.

• A 23-year-old crypto user plans to raise awareness for global financial literacy by displaying an orange flag with the Bitcoin logo at the summit of Mount Everest.

• Binance launches a new initiative allowing new users to qualify for its VIP Invitation Program using the aggregated volume of traditional assets or crypto from external trading venues.

Crypto Fear & Greed Index

The latest data from the Crypto Fear and Greed Index indicates that the current market sentiment is characterized by extreme greed, with a score of 80. This level of investor enthusiasm is reminiscent of the sentiment more than two years ago when Bitcoin reached its all-time high of $69,000. The ongoing rally in the digital asset is attributed to various factors, including the sustained demand resulting from the introduction of new Bitcoin ETFs and heightened anticipation surrounding the upcoming halving event scheduled for April.

ATH coins

Upon reaching its peak market value, a cryptocurrency cements its status among the distinguished ATH coins. This indicates a noteworthy surge in coin demand, though it doesn't assure sustained growth. Given the substantial volatility in the digital currency landscape, conducting thorough research and analysis is crucial before delving into investments in ATH coins. At present, the following coins have distinguished themselves as exceptional performers, achieving notable ATH milestones in recent periods:

Fetch.AI (FET) has achieved its all-time high (ATH) price today, reaching $1.37, while the current price stands at $1.31. The trading volume is notable at $489.72 million. As an artificial intelligence (AI) lab, Fetch.AI focuses on creating an open, permissionless, and decentralized machine learning network embedded within a crypto economy.

Mantle (MNT) has also hit its ATH today at $0.9982, maintaining its current market value at the same price. The trading volume for Mantle Network is substantial, totaling $466.12 million. As an L2 technology stack for scaling Ethereum, Mantle Network positions itself as the first core product within the Mantle Ecosystem, aspiring to be compatible with the Ethereum Virtual Machine.

Arkham (ARKM) boasts an ATH price of $2.39 today, with the current price at $2.16 and a trading volume of $464.48 million. Positioned as a blockchain analysis platform, Arkham utilizes artificial intelligence (AI) to deanonymize blockchain and on-chain data, providing insights into the intricacies of the crypto space.

PAAL AI (PAAL) has reached an ATH price of $0.4439 today, with the current price slightly lower at $0.4396 and a trading volume of $6.52 million. Functioning as an advanced chatbot, PAAL leverages AI and machine learning technologies to streamline tasks that typically require human intellect, such as natural language understanding, image recognition, decision-making, and problem-solving.

OpSec (OPSEC) has experienced an ATH price of $1.31 today, with the current price at $1.22 and a trading volume of $5 million. OpSec addresses the limitations of current internet infrastructure, aspiring to foster a more democratic, resilient, and secure online environment.

Top Movers (24H)

The cryptocurrency market continues to showcase its reliability as an investment platform, drawing in individuals who were initially cautious. Now, these individuals are approaching it with enthusiasm, diversifying their investment portfolios with a range of digital assets. Additionally, current crypto investors are bolstering their positions, resulting in noteworthy price surges across various cryptocurrencies in the last 24 hours. Let's take a closer look at some well-known cryptocurrencies that have recently seen significant price increases.

beoble (BBL) has emerged as a standout performer in the last 24 hours, witnessing a surge of 382.09%. Priced at $0.2411, beoble has attracted considerable attention since its recent listing on the LBank Exchange, a premier global digital asset trading platform. Functioning as a revolutionary Web3 social platform, beoble sets itself apart by offering enhanced decentralized wallet-to-wallet communication. With a current trading volume of $32.93 million, beoble's rapid ascent showcases the dynamic nature of the crypto market.

DeFrogs (DEFROGS) has made significant waves in the cryptocurrency landscape, experiencing a robust growth of 54.13% in the last 24 hours. Currently valued at $1,346.57, this collection of 10,000 DeFrogs is enabled by erc404, an experimental token standard on the Ethereum blockchain. Notably, it stands as the first ERC404 PFP (Profile Picture Project). With a trading volume of $3.79 million, DeFrogs exemplifies the innovative intersections between blockchain technology and digital art within the crypto space.

Nordek (NRK) has also demonstrated a substantial surge of 49.30%, accompanied by a current trading volume of $5.09 million. Priced at $0.02017, Nordek is associated with NORDEK, a pioneering platform in the blockchain technology domain. This platform is rewriting the rules of the GameFi and Web3 Payments industries through groundbreaking solutions and a distinctive feature of zero gas fees.

Kleros (PNK), valued at $0.03801, has experienced a notable upswing of 41.81% in the past 24 hours, with a trading volume of $2.07 million. Launched in July 2018, Kleros is a decentralized dispute resolution project that employs blockchain and crowdsourcing to adjudicate disputes fairly. Serving as an open-source online dispute resolution protocol, Kleros contributes to the ethos of decentralized and transparent decision-making within the crypto ecosystem.

Dogecoin (DOGE) continues to capture attention with a 33.73% increase in the last 24 hours, currently priced at $0.1288. Based on the popular "doge" Internet meme, Dogecoin features a Shiba Inu on its logo. Created by Billy Markus and Jackson Palmer in December 2013, Dogecoin operates as an open-source digital currency and was initially forked from Litecoin. With a substantial trading volume of 5.66 billion, Dogecoin maintains its status as a noteworthy and enduring presence in the cryptocurrency landscape.

Non-Fungible Tokens – Developments

• VanEck, a veteran investment manager, launched SegMint – a new digital asset management platform and NFT marketplace aiming to revolutionize asset sharing in Web3 by enhancing accessibility and security.

• Yuga Labs announced a significant move on February 27, implementing filters in the smart contracts of certain NFT collections to restrict trading to pro-royalties marketplaces, coinciding with the launch of the Magic Eden marketplace.

• Robinhood, known for commission-free stock trading, collaborates with Notable.art and digital artist Hunt Slonem to make blue-chip art more accessible, offering exclusive NFT giveaways.

NFTs To Watch

Creepz by OVERLORD is making waves in the NFT space, boasting a significant trading volume of 454 ETH and 81% change in the last 24 hours. These unique characters serve as the genesis of the Overlord Universe, infiltrating households worldwide through various mediums, including Blockchain Gaming, TV Animation, Fashion Brand, and an Ecosystem Coin. With 93 sales and a floor price of 4.40 ETH, Creepz captivates enthusiasts with its multifaceted presence across different forms of entertainment.

Azuki emerges as a compelling NFT project, commanding attention with a trading volume of 302 ETH and 136% change in the last 24 hours. Comprising a collection of 10,000 avatars, Azuki offers more than just digital art; it grants membership access to The Garden, an exclusive online space where artists, builders, and web3 enthusiasts converge to collaboratively shape a decentralized future. Priced at 6.20 ETH with 47 sales, Azuki stands as a gateway to a vibrant community committed to innovation and creativity.

Milady Maker establishes itself in the NFT landscape with a substantial trading volume of 707 ETH and a steady 28% change in the last 24 hours. This collection of 10,000 generative pfpNFTs embraces a neochibi aesthetic inspired by street style tribes, adding a unique flair to the NFT market. With a floor price of 3.65 ETH and 197 sales, Milady Maker captures the essence of street style culture through its visually appealing and diverse generative art. 

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!