Weekly Crypto Recap: Sentiments Shifts, Top-performing Coins, and NFT Highlights

Dear Readers,

On Thursday, the cryptocurrency markets experienced a slight uptick, with notable gains from Bitcoin, Ethereum, and BNB leading the way. Over the last 24 hours, the global cryptocurrency market cap saw a 1.05% increase, reaching approximately $1.98 trillion.

As of 4:00 AM ET, Bitcoin exhibited a 0.43% rise, reaching $51,875, while Ethereum recorded a 2.65% increase, reaching $3,018. In the same period, BNB witnessed a substantial jump of 4.97%. Other prominent altcoins such as Cardano, Avalanche, Dogecoin, Polkadot, and Shiba Inu experienced positive momentum, while Solana, XRP, Tron, Chainlink, Polygon, Toncoin, and Internet Computer faced declines.

Highlights Of The Week

• Starknet, Ethereum layer-2 token, sees over 50% price drop due to massive sell-offs by Nethermind and airdrop participants. 

• Coinbase supports Grayscale's bid to convert Ethereum Trust into a spot Ether exchange-traded product, arguing Ether is not a security.

• Citrea raises $2.7 million in seed funding led by Galaxy Ventures for its project aiming to bring ZK-rollups to Bitcoin.

• Conduit launches platform allowing users to build and deploy layer-3 rollups on Ethereum or other networks for as low as $50/month in 15 minutes.

• Tether remains uncertain about support for Tron network after Circle stops minting stablecoin on Feb. 20.

• Ladan Stewart, former SEC representative in Ripple case, joins a law firm known for defending crypto companies.

• PLANET token experiences volatility ahead of the release of its first tokenized product in collaboration with soccer legend Lionel Messi.

• Apple introduces PQ3, described as the most significant cryptographic security upgrade in iMessage history, in iOS 17.4 on Feb. 21.

Crypto Fear & Greed Index

The Crypto Fear & Greed Index, a pivotal metric gauging market sentiment for Bitcoin, has recently surged to a score of 78, reaching its highest level since the cryptocurrency's all-time high in November 2021. Presently signaling a state of "greed," this index underscores the prevailing exuberance among traders and investors in the crypto market. The current reading of 74, compared to yesterday's extreme greed level of 78, indicates a sustained appetite for risk. However, seasoned market participants are wary, recognizing that such heightened levels of greed often precede market corrections.

ATH coins

As a cryptocurrency reaches its highest market value, it solidifies its position among the elite ATH coins. This signifies a significant uptick in coin demand, yet it doesn't guarantee long-term growth. Due to the substantial volatility in the digital currency realm, comprehensive research and analysis are imperative before considering investments in ATH coins. Presently, the subsequent coins stand out as outstanding achievers, attaining remarkable ATH milestones in recent times:

Worldcoin (WLD) has reached a significant milestone today, hitting an all-time high (ATH) price of $8.39. Despite a slightly lower current price at $8.36, the project's mission remains ambitious, aiming to establish the world's largest identity and financial network as a public utility, with a commitment to providing ownership to everyone involved.

Ondo (ONDO) has also achieved its ATH today, reaching a price of $0.3969. Currently trading at $0.394 with a volume of $199.13 million, Ondo stands out through its DAO governance system. ONDO token holders, as stakeholders in the Ondo DAO, exercise control over the DAO and Flux Finance protocol, influencing economic parameters and smart contract upgrades through on-chain governance proposals.

Arkham (ARKM) has recorded an all-time high price of $1.41, with the current price slightly lower at $1.36 and a trading volume of $177.50 million. Arkham positions itself as a blockchain analysis platform utilizing artificial intelligence (AI) to deanonymize blockchain and on-chain data, adding a layer of sophistication to blockchain analytics.

Arcblock (ABT) has seen its ATH price peak at $1.96. Despite a slight dip to the current price of $1.76 and a volume of $27.67 million, ArcBlock continues to stand out as a platform dedicated to building and deploying decentralized blockchain applications. It prides itself on being a complete blockchain 3.0 product platform, simplifying the process of building, deploying, and managing apps on the blockchain.

enqAI (EnqAI) has marked an all-time high price of $0.06597 today. While the current price is $0.06122 and the volume is $2.15 million, the EnqAI ecosystem encompasses a blockchain settlement layer, a network of GPU rigs running models, and a dedicated application layer, showcasing a diverse and comprehensive approach to blockchain technology.

Top Movers (24H)

As the cryptocurrency market consistently demonstrates its reliability as an investment platform, individuals who were once cautious are now embracing it with enthusiasm, diversifying their investment portfolios with various digital assets. Moreover, existing crypto investors are strengthening their positions, leading to notable price surges in different cryptocurrencies in the past 24 hours. Let's explore some familiar cryptocurrencies that have recently experienced substantial price increases.

JasmyCoin (JASMY) has emerged as a standout performer in the last 24 hours, experiencing a surge of 57.81%. Priced at $0.01831, this Tokyo-based Internet of Things (IoT) project, developed by Jasmy Corporation, showcases the potential of integrating blockchain technology with IoT solutions. With a current trading volume of $1.61 billion, JasmyCoin reflects growing investor interest in projects that leverage the Internet of Things.

Nordek (NRK) stands out with a substantial gain of 45.57% in the past 24 hours, bringing its current price to $0.006279. Positioned as a pioneer in blockchain technology, Nordek is rewriting the rules of the GameFi and Web3 Payments industries with innovative solutions and zero gas fees. The current trading volume of $6.06 million underscores the increasing demand for platforms that push the boundaries of traditional blockchain applications.

SingularityNET (AGIX) has witnessed a notable increase of 32.05%, reaching a current price of $0.7082. The blockchain-powered platform provides a global AI marketplace, allowing users to easily "create, share, and monetize" AI services. With a trading volume of $447.10 million, SingularityNET reflects the growing importance of decentralized AI solutions within the cryptocurrency space.

AIOZ Network (AIOZ) has recorded a significant uptick of 33.78%, presently priced at $0.2812. This distributed Content Delivery Network (CDN) built on its own Blockchain enables users to share redundant memory, storage, and bandwidth resources, creating a vast CDN capable of powering streaming platforms worldwide. With a trading volume of $15.77 million, AIOZ Network showcases the potential of decentralized CDNs in the blockchain ecosystem.

The Graph (GRT) has soared by 18.85%, attaining a current price of $0.2828, with a trading volume of $437.12 million. Positioned as an indexing protocol for networks like Ethereum and IPFS, The Graph plays a crucial role in querying data for applications in both decentralized finance (DeFi) and the broader Web3 ecosystem.

Non-Fungible Tokens – Developments

• Greg Solano, Bored Ape Yacht Club (BAYC) co-creator, becomes the new CEO of Yuga Labs, replacing Daniel Alegre who started in April.

• Sports Illustrated's ticketing arm shifts its NFT ticketing platform "Box Office" from Polygon to Avalanche after almost 10 months.

• Shiba Inu (SHIB) team ventures into NFTs with the 'SHEboshis' collection, standing out for incorporating the ERC-404 token standard.

NFTs To Watch

Mutant Ape Yacht Club

In the past 24 hours, the Mutant Ape Yacht Club has emerged as a standout NFT collection, recording a substantial trading volume of 1151 ETH with a change of 138%. The floor price for Mutant Ape Yacht Club currently stands at 4.29 ETH, and the collection has witnessed a total of 278 sales. This exclusive assembly of up to 20,000 Mutant Apes distinguishes itself by allowing their creation through the exposure of existing Bored Apes to a vial of Mutant Serum or via participation in the public sale.

Bored Ape Yacht Club

The Bored Ape Yacht Club has also experienced significant activity, boasting a trading volume of 1109 ETH and a change of 102% over the last 24 hours. With a floor price of 23.99 ETH and a total of 45 sales, the Bored Ape Yacht Club comprises 10,000 unique Bored Ape NFTs that exist as digital collectibles on the Ethereum blockchain.

Lil Pudgys

Lil Pudgys has made a mark in the NFT space with a trading volume of 544 ETH, showcasing a change of 106%. The floor price for Lil Pudgys is 2.02 ETH, and the collection has garnered attention through 268 sales. Originating from Pudgy Penguins, Lil Pudgys, despite their diminutive size, play a crucial role in the history of Pudgy Penguins, making them a significant and sought-after NFT collection. 

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

Best Regards,
Crypto Recorder Team

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