Weekly Crypto Recap: Standout Performers, Downturns, ICO Spotlights, and Airdrop Buzz

Dear Readers,

Several major cryptocurrencies, including Bitcoin, surged on Tuesday. Bitcoin rose 9.95% in the last 24 hours, reaching $56,419 by 3:48 am ET. Other major cryptos, like Cardano, Ethereum, Tether, Dogecoin, Solana, BNB, Avalanche, Toncoin, XRP, and Tron, also gained up to 6.40%. This marks the first time since late 2021 that Bitcoin has surpassed $57,000, fueled by investor demand through exchange-traded funds and additional purchases by MicroStrategy, Inc.

Highlights Of The Week

• Five US senators unite to oppose the Biden administration's "digital dollar" plans, co-signing legislation calling for a ban on central bank digital currencies (CBDCs).

• Grayscale's spot Bitcoin ETF records a third consecutive day of slowing net outflows, reaching a record low of $22.4 million, while overall ETFs see a two-week net inflow high.

• Ethereum Name Service (ENS) settles dispute with Manifold Finance over eth.link domain ownership, with the ENS DAO approving a $300,000 settlement.

• Ethereum layer-2 network Blast achieves over $2.1 billion in total value locked (TVL) ahead of its upcoming mainnet launch scheduled for the end of the month.

• Appellate court upholds fraud conviction of Randall Crater, founder of My Big Coin cryptocurrency project, who was sentenced to more than eight years in prison.

• Hong Kong crypto exchanges must apply for a virtual asset trading platform (VATP) license by Feb. 29 or face liquidation and exit within three months, according to the Securities and Futures Commission (SFC).

• All in Bits, led by Cosmos co-founder Jae Kwon, is set to launch its new GovGen blockchain and token on Feb. 27, preceding the Cosmos Hub AtomOne fork.

Top Weekly Gainers

In the midst of the cryptocurrency tumult, recognized for its intrinsic volatility, perceptive traders demonstrate a talent for identifying weekly frontrunners brimming with promising opportunities for financial growth. By embracing a proactive mindset and meticulously tracking market trends and price fluctuations, investors can seize these opportune moments, potentially transforming their investment strategies for optimal outcomes.

Pangolin (PNG), the native token of the Pangolin DEX on the Avalanche Network, took the top spot with a staggering surge of 670.15% in the past week. Its current price sits at $0.6411, with a trading volume of $91.18 million. Pangolin offers users an easy and convenient experience for swapping and trading cryptocurrencies, thanks to its advanced tools, deep liquidity, and smooth onboarding process.

Coti (COTI), a cryptocurrency involved in decentralized finance (DeFi) applications, saw a significant increase of 164.92% in its price this week. It currently trades at $0.2463, with a trading volume of $357.99 million. This growth comes after Coti recently introduced a product development upgrade focusing on enhancing network privacy and security through garbled circuit technology.

zkSwap Finance (ZF), a decentralized exchange built on the zkSync Layer 2 scaling solution, experienced a gain of 116.05% in its price this week. Currently priced at $0.07154, zkSwap has a trading volume of $6.18 million. Notably, zkSwap is the first "Swap to Earn" DeFi DEX, offering a unique incentive model that rewards both liquidity providers and traders.

DexCheck (DCK), a cryptocurrency associated with a platform providing on-chain analytics and insights for DeFi users, witnessed a weekly price increase of 78.53%. Its current price is $0.1186, with a trading volume of $4.67 million. This growth coincides with DexCheck's recent announcement of a partnership with HeLa Labs, a pioneer in blockchain technology utilizing a fiat-backed stablecoin.

Spell Token (SPELL), a reward token associated with the Abracadabra lending platform, experienced a gain of 51.21% in its price this week. It currently trades at $0.0009657, with a trading volume of $65.03 million. Abracadabra allows users to borrow USD-pegged stablecoins using interest-bearing cryptocurrencies as collateral.

Top Weekly Losers

Within the turbulent expanse of the cryptocurrency arena, a weekly narrative unfolds, featuring both victors and contenders wrestling with challenges. They navigate the impacts of regulatory shifts, market fluctuations, and unwelcome media attention. Despite the hurdles presented by losses, this juncture stands as a pivotal opportunity for traders and investors to evaluate their methods, deconstruct the elements leading to setbacks, and purposefully carve out a path for their future investments to thrive. In this week's cryptocurrency market, several tokens experienced notable downturns.

DFI.Money (YFII) took a significant tumble this week, with its price dropping a staggering 27.11%. This sharp decline comes after major cryptocurrency exchange OKX announced plans to delist YFII from its platform, citing a failure to meet its listing criteria. This news likely spooked investors, leading to the sell-off and subsequent price drop.

The memecoin BOZO (BOZO) experienced a rough week, plummeting 24.92% in value. While the exact cause for the decline remains unclear, it's possible that broader market conditions or a lack of significant news or developments surrounding the project contributed to the drop.

Neurai (XNA) is currently priced at $0.003282, reflecting a decline of 17.94% in the past week. Launched on 04/17/2023, the Neurai project is the brainchild of three electronics specialists who dedicated years to IoT projects. Their mission is to connect their expertise in electronics with the blockchain world, addressing a gap they observed in the industry.

RabbitX (RBX) has experienced a decrease of 15.88%, bringing its current price to $0.1228. Positioned as a global permissionless perpetuals exchange built on Starknet, RabbitX aims to establish the most secure and liquid global derivatives network. This initiative seeks to provide 24/7 access to global markets anywhere in the world, offering traders 20x leverage.

Biconomy (BICO) has witnessed a plunge of 14.20% in the past week, resulting in a current price of $0.3879. With a substantial trading volume of $11.29 million, Biconomy operates as a multichain relayer protocol. Its primary focus is to enhance user onboarding and transaction experiences on decentralized applications (DApps), aiming to improve the overall usability of blockchain technology.

Hot ICOs To Watch Out For

Active ICOs

Beoble, a communication infrastructure and ecosystem facilitating wallet-to-wallet chat, commenced its sale on February 20 and is set to conclude on February 28. So far, it has raised $7,620,000, nearing its fundraising goal of $7,820,000.

Age of Dino, a pioneering MMO strategy game blending Web 3.0 and traditional gaming elements, started its sale on January 29 and will continue until February 29. With a fundraising achievement of $8,000,000, it is capturing the interest of both seasoned players and those transitioning into the digital gaming realm.

Style Protocol, focusing on enabling monetization and utilization for Virtual Assets across various gaming, metaverse, and virtual world platforms, initiated its sale on February 15 and is scheduled to conclude on February 29. Currently, it has raised $1,320,000, striving towards its fundraising target of $1,720,000.

Upcoming ICOs

Patex, scheduled to start its sale on February 28 with an undetermined end date, aims to raise $2,130,000. Positioned as the first blockchain for the vast population of Latin America, Patex introduces a novel block model that prioritizes community rewards over traditional mining processes, catering to the unique needs of the region's 670 million inhabitants.

Masa, another ICO on the horizon, is slated to launch its sale on March 7, concluding on the same day, with a fundraising goal of $17,690,000. Touted as the World’s Largest Decentralized Personal Data Network, Masa aims to reshape the data landscape by empowering users and redistributing control over personal data. The one-day token sale highlights the project's commitment to efficiency and user-centric principles.

Ordify, gearing up for its sale starting on March 12 with an undisclosed end date, envisions a suite of products designed to elevate the investment experience across diverse blockchain ecosystems. With a fundraising goal of $2,400,000, Ordify's suite includes a launchpad, bridge, wallet, and potential addition of further tools, promising a comprehensive and user-friendly approach to navigating the complexities of decentralized finance.

Ended ICOs

Forgotten Playland, which started its sale on February 14 and concluded on February 20, achieved the entire $10,000,000 fundraising goal. Developed as a free-to-play online party game and set to launch in the first quarter of 2024, Forgotten Playland is backed by Vermilion Studios, promising an engaging gaming experience for users.

Metahorse Unity, another ICO that recently concluded its sale, started on February 13 and ended on February 20, surpassing its fundraising goal by securing $1,500,000. This blockchain RPG racing game introduces NFTs, seamlessly blending free-to-play and play-to-earn models for competitive horse racing within a dynamic metaverse, exemplifying the evolving landscape of blockchain-based gaming.

BeFi Labs, which held its ICO from January 19 to February 18, achieved its fundraising goal of $2,300,000. Positioned as a pioneer in CeDefi innovation, BeFi Labs plays a crucial role in converging Web3 users into the expansive BRC20 ecosystem, showcasing the project's commitment to advancing decentralized finance within the blockchain space.

Hottest Airdrops

• Visit Mode's airdrop page.

• Enter invite code "wLoa0T."

• Connect your Twitter.

• Link your wallet.

• Earn points for DeFi/NFT activity.

• Bridge ETH, USDT, USDC, or WBTC to Mode.

• Get assets from Binance.

• More bridges = more points.

• 1.2x multiplier in first 7 days.

• Refer friends for 16% of their points.

• Use ecosystem apps for 2x points.

• Points convert to MODE tokens at launch.

• Details in the airdrop article.

Blaster

• Go to Blaster's airdrop page.

• Securely connect your wallet.

• Follow on Twitter and join Discord.

• Sign up using the provided link for 300 BLSTR.

• Bonus rewards for previous Blast airdrop participants.

• Extra BLSTR for BLUR deposits on Blur.

• Quote a tweet for a 50% bonus.

• Refer friends, get 10% of their BLSTR rewards.

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. I'll get back to you asap!