Weekly Crypto Recap: Mood Swings, Top Coins, and the Latest in NFTs

Dear Readers,

Bitcoin (BTC) prices climbed above $67,000 after Federal Reserve Chair Jerome Powell signaled a cautious approach to interest rate hikes, despite inflation concerns.  This dovish stance, alongside the Fed's maintained forecast of three rate cuts in 2024, boosted the market. Ethereum (ETH) also thrived, surpassing the $3,500 mark.

Other major altcoins, like Solana (SOL), XRP, and Cardano (ADA), saw significant gains as well. Notably, Bitcoin regained ground near $67,000, with its price reaching $67,280 at the time of writing on Thursday, March 21st.

Highlights Of The Week

• Layerswap regains domain access after $100,000 hijack drain.

• SEC issues subpoenas to Ethereum collaborators amid ETH security classification campaign.

• US Bitcoin ETFs witness $261.5 million net outflows on March 20.

• 'Pump the gas' website launched to increase Ethereum gas limit, aiming to reduce transaction fees.

• Coinbase plans Dogecoin futures trading, citing enduring popularity.

• SEC delays decision on spot Ether ETF application from VanEck.

• Robinhood expands crypto wallet access to Android users.

• Montenegro court rejects Do Kwon's appeal, allowing extradition to South Korea.

• Uzbekistan increases monthly fees for crypto market participants.

Crypto Fear & Greed Index

The Crypto Fear & Greed Index has spiked to 78, indicating a surge in extreme greed within the cryptocurrency market. This uptick coincides with recent market movements, driven by the accommodative stance of U.S. Federal Reserve Chair Jerome Powell. Despite concerns surrounding inflationary pressures, Powell's commitment to maintaining the central bank's forecast of three rate cuts this year has buoyed investor confidence. Just twenty-four hours earlier, the index stood at 74, signaling a prevailing sentiment of greed among traders.

ATH coins

When a cryptocurrency hits its highest market value, it cements its place among the distinguished ATH coins. This reflects a significant surge in coin demand, though it doesn't guarantee prolonged growth. Considering the substantial volatility in the digital currency arena, in-depth research and analysis are essential before entertaining investments in ATH coins. Currently, the subsequent coins have emerged as exceptional performers, reaching notable ATH milestones in recent periods:

Thala (THL), a decentralized finance (DeFi) protocol built on the Aptos blockchain, reached a new all-time high of $3.12 today, March 21st, 2024. This surge comes alongside a healthy trading volume of $7.98 million, indicating strong investor interest in the project. Thala offers users a suite of DeFi products, including Move Dollar, a stablecoin designed for transactions within the Aptos ecosystem, and Thala Swap, an automated market maker for efficient liquidity provision.

The governance token of the Ondo DAO, Ondo (ONDO), reached a new all-time high of $0.7782 today. This impressive feat is accompanied by a massive trading volume of $421.03 million, suggesting significant activity surrounding the project. Ondo DAO is a decentralized organization focused on democratizing access to institutional-grade financial products and services. By holding ONDO tokens, users have the power to shape the future of the DAO and its mission.

Entangle (NGL) is also celebrating a new all-time high today, March 21st, 2024. The token, associated with a project offering a suite of interoperable blockchain tools for data, assets, and secure communication, reached a peak of $2.83. This milestone is accompanied by a current trading volume of $10.82 million, indicating strong investor sentiment. Entangle's interoperable tools aim to streamline communication and asset movement across various blockchain networks.

ssv.network (SSV), a project focused on decentralized staking infrastructure for the Ethereum network, reached a new all-time high of $60.48 today. This surge in price comes alongside a daily trading volume of $171.08 million. ssv.network's technology enables the distributed operation of Ethereum validators, contributing to the network's security and decentralization.

Aerodrome Finance (AERO), a next-generation automated market maker (AMM) built on the Base blockchain, reached a new all-time high of $0.8477 today. This achievement coincides with a trading volume of $12.84 million, suggesting strong user interest in the platform. Aerodrome Finance is designed to serve as Base's central liquidity hub, offering unique features such as a powerful liquidity incentive engine and a user-friendly interface. The project inherits functionalities from the well-established Velodrome V2 protocol.

Top Movers (24H)

As the cryptocurrency market consistently proves its reliability as an investment platform, individuals who were once cautious are now embracing it with enthusiasm, broadening their investment portfolios with various digital assets. Additionally, current crypto investors are strengthening their positions, leading to noteworthy price surges in different cryptocurrencies over the past 24 hours. Let's take a closer look at some familiar cryptocurrencies that have recently undergone significant price increases.

Polymesh (POLYX) is on fire today, soaring a whopping 89.93% in the last 24 hours! This institutional-grade permissioned blockchain is built specifically for regulated assets, aiming to streamline antiquated processes and open doors to new financial instruments. With a current price of $0.4056 and a trading volume of $1.15 billion, Polymesh is definitely a crypto to watch.

ELYSIA (EL), a decentralized autonomous organization (DAO), is making waves with an impressive 80.58% surge in the last day. Currently priced at $0.01059 and boasting a trading volume of $60.11 million, ELYSIA focuses on providing the technology and incentives for the digital transformation of real-world assets.

Realio Network (RIO) is also showing strong gains, jumping 78.64% in the last 24 hours. The Realio platform describes itself as an end-to-end, blockchain-based SaaS platform for managing digital securities and cryptoassets. Currently trading at $1.47 with a volume of $23.05 million, Realio Network is worth keeping an eye on.

TokenFi (TOKEN) is not to be missed, experiencing a significant growth of 60.09% in the past day. With a current price of $0.09515 and a trading volume of $58.94 million, TokenFi aims to simplify the crypto and asset tokenization process, with the goal of becoming the world's leading tokenization platform.

Finally, TrueFi (TRU) rounds out the list with a solid 48.41% jump in the last 24 hours. TrueFi is a protocol for creating interest-bearing pools with high APRs for liquidity providers. Currently priced at $0.09703 with a trading volume of $99.01 million, TrueFi offers an interesting approach to earning passive income.

Non-Fungible Tokens – Developments

• BlackRock, a leading asset management giant, now holds a minimum of $40,000 in memecoins and NFTs through a newly discovered wallet tied to a tokenization fund.

• OKX, a popular NFT marketplace, has upgraded its platform to simplify trading of Solana NFTs. Users can now conveniently view and accept bids on Tensor, a Solana-based marketplace, directly within OKX's NFT marketplace.

• Excitement brews in the NFT and Star Wars communities as WAX Blockchain unveils its anticipated Digital Pop! Series featuring iconic Star Wars characters. This collaboration signals a significant step towards integrating digital collectibles with physical figurines. The release is scheduled for March 26 at 11 AM PT.

NFTs To Watch

Pudgy Penguins

The Pudgy Penguins are waddling their way to the top! This adorable collection of 8,888 NFTs saw a 197% increase in volume over the past 24 hours, reaching a total of 743 ETH.  The floor price also jumped to 13.70 ETH, indicating strong demand. With 64 sales happening in that timeframe, it seems the Pudgy Penguins are bringing a wave of positivity to the NFT space.

Lil Pudgys

Following in their flippers are the Lil Pudgys, a collection of 22,222 NFTs hatched from the beloved Pudgy Penguins. Don't underestimate these little guys!  Lil Pudgys saw a 145% surge in volume, with a total of 371 ETH traded. The floor price sits at 1.18 ETH, and a whopping 362 Lil Pudgys found new homes over the past day.

onchain gaias

onchain gaias is another project making waves.  This collection experienced a staggering 250% change in volume within the last 24 hours, reaching 211 ETH. The floor price also climbed to 0.63 ETH, indicating growing interest. With 349 sales happening during this period, it's clear that Onchain Gaias is a project to watch. 

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

Best Regards,
Crypto Recorder Team

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