Weekly Crypto Review: Gainers, Losers, ICOs & Airdrops

Dear Readers,

As the new week unfolds, crypto markets maintain their familiar pattern of consolidation. However, amidst this routine, there is apparent hope with Bitcoin hinting at a potential revival.

Despite its current slide to $63,000, Bitcoin's structure suggests a shift, with higher highs and lows indicating bullish sentiment. Anticipation mounts as Bitcoin eyes a climb towards retesting the trend line linking its all-time high of $73,949.

This resurgence could catalyze altcoins to break free from their stagnation. Moreover, two looming macroeconomic events this week promise to inject volatility into the mix, amplifying the potential for market movement. These include a speech by the Fed Chair later today, and the release of the US CPI report tomorrow. 

Highlights Of The Week

• The U.S. SEC rejected Coinbase's call for a new crypto regulatory framework, insisting existing rules suffice. The SEC emphasized its authority to set priorities and conduct enforcement actions, rejecting Coinbase's accusations of a power grab.

• Earlier this week, three individuals, including two Chinese nationals, were arrested in Argentina for running a crypto investment scam disguised as a supermarket. They seized equipment used for illegal mining. One suspect posed as someone else to lure investors, resulting in a $1.25 million loss. Binance and Lemon aided authorities in the track down.

• Russian authorities have proposed hefty fines for residential crypto miners to combat power outages, while amendments to administrative laws may penalize electricity misuse. Experts continue to advocate for regulating mining to benefit the economy while ensuring compliance.

• According to an investigative report by Zachbxt, Middle East-focused crypto exchange Rain was allegedly exploited for $14.8 million. Rain has not confirmed the attack, while funds were traced to both bitcoin and ethereum addresses. Rain's silence contrasts with recent social media posts, raising further questions. 

• Ghana Post Company debuts the first crypto stamp to honor the 25th anniversary of Otumfuo Osei Tutu II's reign as Asantehene. Traded as an NFT, it aims to bridge generations. Government officials have praised the move, highlighting its reflection of national pride and identity, while spearheading into the future.

Top Weekly Gainers

As top crypto names such as Bitcoin and Ethereum take on steady climbs in their consolidation phase, the past week has seen some tremendous winners. Certain cryptocurrencies in particular have been on a noteworthy rally.

In the following discussion, we'll delve into these standout performances and the factors contributing to their success. 

Mode:

This week witnessed Mode, a Modular DeFi L2 project utilizing the OP Stack within the Optimism Superchain, surge dramatically, skyrocketing over 4000% with a trading volume surpassing $4 million. While most gains occurred last week, the token's value has been gradually retracting since. Despite this, MODE's remarkable ascent persists.

Launched in January 2024, MODE token serves as the governance utility within the ecosystem. 

GameStop:

GameStop (GME) surged nearly 2000% this week, with a trading volume exceeding $164 million. Most gains occurred yesterday, propelling the price from $0.0005 to $0.0119.

The surge is attributed to the comeback of Keith Gill, aka TheRoaringKitty, whose Reddit analysis sparked a retail investor uprising against Wall Street, resulting in remarkable profits and renewed market excitement.

MagaVP:

MagaVP (MVP) surged almost 200% this week, with a trading volume exceeding $2.6 million, soaring from $0.13 to $0.40.

Linked to former US President Donald J Trump, the token gained momentum after Trump's vocal support for cryptocurrency at a Mar-a-Lago event. Trump's stance on embracing crypto has influenced market sentiment, contributing to the token's positive trajectory amidst political and regulatory scrutiny.

Slothana:

Slothana (SLOTH) tripled this week, with a volume exceeding $39 million, fueling the crypto hype. Rising from $0.015 to over $0.053 in a week, the sloth-themed memecoin is making waves in Solana's meme coin scene.

With listings on Raydium and ambitions for CoinMarketCap and CoinGecko, Slothana's team aims to solidify its position, while introducing a burn mechanism to potentially boost future value. 

Angola:

Angola (AGLA) more than doubled its price this week, soaring from $0.0117 to over $0.0250, with a staggering volume surpassing $49 million, signaling bullish sentiment in the market compared to just $50,000 a week ago.

The Angola Project, a social NFT system on the Web3 creator economy, aims to democratize NFT creation, ensure creator ownership, and address profit distribution issues. The surge appears entirely spontaneous.

Top Weekly Losers

With the spectacular rise seen in the overall crypto-market, and bulls fully activated, there are also several names in the crypto-sphere that did not perform up to mark. In fact, these have even brought in quite the losses to its holders in the prior week. At the time of writing this newsletter, the top weekly losers among cryptocurrencies, are as follows:

Crodie:

Crodie experienced a steep decline this week, plummeting by 80% over 7 days from $0.0208 to $0.0041. Speculation arises whether it's an exit liquidity trend.

With a market cap of $11 million and $650k liquidity, concerns mount about potential massive holders influencing the market. Drake's cat, after whom the token is named, symbolizes loyalty, reflecting Toronto slang, and has a significant online presence, adding cultural relevance.

Mewing:

Mewing faced a significant drop this week, losing 80% of its value from $0.0103 to $0.0016 in a single week. Remarkably, it surged the week prior, ranking second on CoinMarketCap's trending list.

The cryptocurrency gained traction on TikTok, with over 360.2k related posts, attracting new buyers and engaging the community. MEWING derives its name from a facial beauty practice coined after Mike Mew, promoting tongue posture for dental health and facial aesthetics.

Rocky:

ROCKY faced a steep decline, dropping by 70% to $0.0129 in the last 7 days. However, in the past 24 hours, it exhibited a notable 32% recovery. The ROCKY community eagerly anticipates its listing on Binance. As a Meme Coin on Base, launched by Skel, sentiment remains bullish despite the unpredictable nature of these movements.

Pedro the Raccoon:

PEDRO, the raccoon-themed crypto, suffered a severe drop of 71%, plummeting from $0.12 to $0.03 in the last week. Within the last 24 hours, it shed an additional 35%. PEDRO is a meme sensation inspired by a viral raccoon clip, contributing to its high volatility. Notably, there are no tax fees, with a supply of 99.983.179 million, LP burned, and the owner contract renounced.

Nutcoin:

The memecoin deployed on Ethereum, Nutcoin, underwent a turbulent week with trading volumes swinging from $1.75 million to nearly $300,000. In this timeframe, its price sporadically dropped, hinting at substantial sell-offs that led to a sharp decline. Over seven days, its price plummeted by around 71%.

Hot ICOs To Watch Out For

Active ICOs

StakeLayer:
StakeLayer (STAKE) is gaining momentum as a hot ICO, having already raised $1.1 million with a month left in the token sale. StakeLayer offers an innovative platform revolutionizing Bitcoin investments through cutting-edge restaking technology.

Their mission is to democratize Bitcoin earnings globally, ensuring accessibility, profitability, and security through transparent blockchain solutions.

Laika AI:

Laika AI (LKI) is heating up the ICO scene, having already raised $1.31 million, meeting 78% of its target with 10 days remaining.

Laika AI pioneers an on-chain data layer for AI, offering advanced solutions for deeper insights, enhanced security, and superior market analysis in the digital asset space.

Optimized for web3 and blockchain, Laika sets itself apart with over 50,000 on-chain users and 15,000 daily users.

Peaq

Peaq, a highly anticipated ICO, has surged in interest, already raising $8.9 million with just 2 days left, aiming for $28.7 million total.

Offering super decentralization with a Nakamoto Coefficient over 90, scalability exceeding 100,000 transactions per second, and environmentally friendly architecture, Peaq introduces modular DePIN functions for versatile tokenization.

With $PEAQ tokens available, the community takes a significant step towards Peaq's vision of community ownership and governance.

Upcoming ICOs

Umoja:

Umoja (UMJA), an eagerly awaited ICO, has already secured $4 million before its launch tomorrow, aiming for a $10 million target (up from $6 million).

Umoja introduces a DeFi protocol enabling the creation of smart, self-sustaining money, serving as crypto's Asset Factory.

Through Synths, tokenized trading strategies, Umoja automates financial strategies, crafting AI-based Smartcoins with lower risk, better yield, and high liquidity.

Legends of Elysium:

Legends of Elysium (LOE) is an eagerly anticipated ICO set to launch this month with a goal to raise over $2 million, a significant increase from its initial target of $200,000.

LOE is an immersive online multiplayer role-playing game set in a fantastical world brimming with magic and mythical creatures. Players embark on epic adventures, battling monsters, completing quests, and uncovering ancient secrets in a visually stunning environment.

With customizable characters, engaging gameplay, and a captivating narrative, Legends of Elysium promises an unforgettable gaming experience that transcends expectations.

LayerZero:

LayerZero (ZRO) garners immense interest as an upcoming ICO, already amassing an astonishing $263 million before its official launch this week. LayerZero serves as an interoperability protocol connecting over 50 blockchains, facilitating seamless omnichain applications and token experiences.

With configurable security features and permissionless executors, LayerZero empowers developers to transfer censorship-resistant messages across chains while maintaining ownership of security and efficiency.

Ended ICOs

BounceBit

BounceBit (BB) ICO concluded, raising $6 million. BounceBit pioneers BTC restaking via CeDefi, blending CeFi & DeFi to offer multiple yield sources.

It's the first native BTC restaking chain, securing network with BTC & BB token staking. Unique PoS system combines native BTC security with full EVM compatibility.

Groundbreaking mixed DeFi/CeFi mechanism enables BTC holders to earn yields through validator staking, DeFi ecosystem, and CeFi mirroring.

Sophon:

Sophon (SOPH) ICO came to a successful close, raising $74 million. It's an entertainment-focused ecosystem utilizing modular rollup and zkSync's Hyperchain tech to address scalability and interoperability challenges in current blockchains.

Sophon incentivizes participation for developers and users alike, with node operators earning fees in $SOPH token for maintaining the network's integrity. Integration with zkSync Hyperchain enables seamless cross-chain communication and value exchange.

Hottest Airdrops

Fyde Airdrop:

1. Visit the Fyde Liquid Vault page, where you can connect your Ethereum wallet.

2. Once connected, click on "Deposit" and input the referral code "1X1-LQQNRk" to receive boosted points.

3. Choose from 40 different tokens to deposit, including ETH and wETH, available on Binance.

4. Enter the token amount and receive TRSY upon depositing, representing your share of the vault's assets' performance.

5. Stake your TRSY to start earning Fyde points and refer friends for additional points.

6. Fyde plans to launch its governance token, "FYDE," with potential airdrops for users accumulating Fyde points.

Aethir Airdrop:

1. Visit the Aethir airdrop page and connect your wallet.

2. Start accumulating badges by completing diverse tasks listed on the airdrop page. These badges include both community and task badges. Community badges are obtained by being a member of specified communities or holding their tokens, while task badges are earned by participating in various activities like Galxe quests.

3. Attain a minimum of 1000 points to obtain the Galxe badge and earn additional badges by referring friends.

4. Aim to collect as many badges as possible to ascend the leaderboard. Aethir ensures fair distribution by conducting Sybil checks against Questor’s wallets.

MYTH Airdrop:

1. Head to the MYTH Zealy airdrop page.

2. Connect with Zealy using Discord, WalletConnect, or email to enter the event.

3. Complete straightforward social tasks to earn XP.

4. Participate in quiz and true or false tasks for additional XP.

5. Accumulate XP to climb the leaderboard ranks.

6. Share in 6,250,000 MYTHx tokens during TGE, valued at around $1,000,000.

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!