Weekly Crypto Review: Top Gainers, Biggest Losers, ICOs & Hottest Airdrops

Dear Readers,

It's an exciting time in the crypto market as Ethereum and Bitcoin surge, reflecting the current upbeat sentiment. These price surges precede a pivotal week in the world of finance, especially in the U.S.

The upcoming days promise crucial economic data releases, including reports on consumer confidence and nonfarm payrolls. These numbers will set the stage for a significant Federal Reserve policy meeting, where monetary decisions will shape the financial landscape. With sentiment positive, the market has a good feeling about the outcome of these discussions.

Highlights of the week

• Bitcoin's mining difficulty threshold hit a record 62.46 trillion on October 29, 2023, marking a 2.35% increase, the fourth consecutive rise. This markets the highest difficulty figure Bitcoin faces in its enire history. Despite the heightened complexity, miners sustain an over 450 EH/s total hashrate, with Foundry and Antpool leading. Block times remain below ten minutes, showing strong competition among 42 mining pools contributing to the blockchain.
  

• South African crypto platform Revix anticipates its users reclaiming funds that had been frozen via an asset recovery proposal from custody partner Haru Invest. The CEO Sean Sanders cautiously avoids likening Haru to Celsius, without disclosing a specific timeline. Revix will be engaging regulators to expedite the resolution.
  

• The Indian crypto exchange, Coindcx has recently urged the government there to reduce the 1% crypto transaction tax, saying that it has the potential to drive 95% of Indian trade overseas. CEO Sumit Gupta highlighted tax inefficiency, staff cuts, and regulatory hurdles. Indian exchanges suffer liquidity issues while the government eyes crypto clarity post-election. Amidst falling local trade, Indian adoption via offshore channels continue to rise, approximating $250 billion in crypto assets by mid-2023.
  

• Zodia, a crypto custody firm owned by the giant British bank, Standard Chartered, launched services in Hong Kong, yesterday. CEO Julian Sawyer emphasized institutional demand, making Hong Kong an ideal market. Starting with limited crypto assets, the company aims for regulatory compliance with local authorities. Zodia expanded in Japan, Singapore, and Australia, noting interest from clients in these markets and beyond. The move aligns with Hong Kong's broader vision for digital assets.
  

• The blockchain analytics firm, Elliptic recently dismissed claims of major crypto donations to Hamas, citing seized accounts. They emphasize the blockchain's transparency for tracking illicit funds. No evidence supports significant crypto inflow, undermining the notion of crypto use as a terrorism fundraising tool. The company highlights how blockchain traceability aids in identifying real-world identities linked to illegal funds.

Top Weekly Gainers

Amidst the Middle East turmoil and a war threatening to disrupt the entire region, the crypto market remains buoyant as ever. Certain cryptocurrencies saw significant gains last week, putting them on a noteworthy rally. In the following discussion, we'll delve into these standout performances and the factors contributing to their success.

Ark:

Ark (ARK) stands out as the most significant cryptocurrency this week, among weekly gainers, with a rank of 234. Initially below $0.45 with a volume surpassing $12 million, it surged in subsequent days. Bulls led an impressive rally, propelling Ark to $1.06, with a trade volume reaching $570 million, denoting a 133% weekly gain. Evident across technical indicators, this surge screams bullish momentum, drawing further attention from traders seeking a sure win.

MyMetaTrader:

MyMetaTrader (MMT) emerges as the top performer in weekly gains, experiencing an unprecedented surge of almost 1100% within a span of seven days. Notably, its price movement exhibited a consistent and algorithmic pattern, hinting at controlled market dynamics. Despite a substantial trade volume surpassing $500,000, the fluctuations suggest a concentrated influence on supply and demand dynamics wielded by a limited number of market participants.

Real Smurf Cat:

Real Smurf Cat, the deflationary memecoin on Ethereum, notably surged this week, nearly quadrupling in value, reaching a $4.2 million volume, signifying strong interest. However, while the current upward trend is evident, technical analysis indicates a deceleration in momentum, hinting that the peak might have passed for this crypto-player, for now.

Bibi:

Bibi, the crypto-player which proudly identifies as the leading tax-free decentralized meme coin on BSC, showcased an exceptional surge in value this week. It marked a remarkable 300% peak in price, as well as a $2.7 million trade volume this week. Presently experiencing a cooldown, enthusiasts eagerly await a potential resurgence, foreseeing another bullish rally on the horizon.

Burn:

The Burn token saw a remarkable surge, tripling its value to $0.0000333 in a week. It operates as a hyper-deflationary currency, growing scarcer with each transaction. While its price remained steady throughout the week, a sudden phenomenal leap in both value and trading volume occurred today, surpassing its previous peak.

Top Weekly Losers

This week in the cryptocurrency market witnessed surges driven by social media momentum, yet not without notable setbacks. The geopolitical turmoil in the Middle East, paired with economic uncertainties, nudged certain investors towards seeking stability in alternative assets. Despite this, a number of big weekly losers had been seen this week:

Nova:

This week saw a significant decline in Nova, as it plummeted by over 90% in market value due to waning confidence. Despite being just 2 months old, it has consistently dropped since its launch. Optimistic investors anticipate a potential recovery, considering its early stage in the market, believing it might not face a permanent downfall, just yet.

HayCoin:

Throughout the past week, HayCoin (HAY) faced a significant setback, dropping by 66% and remaining in the red. Its trading volume also notably decreased from $2.6 million to nearly $1 million. Interestingly, the community remains persistently optimistic about a potential price stabilization for HAY, particularly considering its prospects within the Uniswap market in the near future.

Mind Matrix:

This week, Mind Matrix (AIMX), an AI/DeFI cryptocurrency, faced a significant downturn, underlining the volatile nature of even innovative crypto-tokens. Within 7 days, it dropped drastically from $0.00000064 to $0.00000013, causing substantial losses for the AIMX community—a staggering weekly decline of over 75%. The sudden surge in trading volume, surpassing $1 million, suggests long-term holders are divesting from AIMX, favoring more established cryptocurrencies.

Ethereum Express:

Ethereum Express (ETE) saw a consistent decline in the crypto market over the past fortnight, plunging from over $0.15 to now below $0.02, marking a staggering 60% drop in just the last week. Despite intermittent stability, the past week was catastrophic for ETE. This decline persists despite Ethereum's positive trends, hinting at a significant downfall that is likely to continue.

Long:

The cultural token, Long (LONG), and its associated Dragon Coin underwent a turbulent week with trading volumes swinging from $200,000 to nearly $2 million. In this timeframe, its value sporadically dropped, hinting at substantial sell-offs that led to a sharp decline. Over seven days, Long's price plummeted by almost half, diving from $1029 to $520.

Hot ICOs to Watch Out For

Active ICOs

Chappyz:

The Chappyz (CHAPZ) ICO has surged, securing an impressive $780,000 in just three days. Its success is credited to Chappyz's AI-driven plug-and-play protocol, fostering genuine community growth, where members are rewarded in real time for engagement. It is a unique offering where users can effortlessly earn rewards for simply contributing to their favorite community.

Chappyz's advanced AI system evaluates messages and issues token rewards for each chat. Explore and earn rewards through community assignments, enjoying seamless background rewards for participating in diverse tasks across communities.

Manilla Finance:

Manilla Finance (MNLA) represents an active ICO opportunity with $1.1 million raised and a full month ahead. It's more than just fundraising—it’s pioneering financial empowerment through innovative blockchain solutions.

Bridging traditional finance with blockchain, their token offers unmatched financial flexibility: swift, secure transactions, staking benefits, loans, and a decentralized platform.

Manilla Finance aims to revolutionize monetary operations, granting users the freedom to shape their financial future effortlessly. The ICO marks a massive milestone for the project in meeting its grand vision.

SANGO:

The SANGO token sale has achieved remarkable traction, reaching $1 million of its $20,000 target. SANGO, driven by the Bitcoin Blockchain, serves the Central African region. It enables multi-dimensional asset transfer, payments, digital identity, governance, and tokenization law.

Benefits of this project include e-visas and streamlined digital company registration, offering efficiency, cost savings, and security via blockchain technology. It is the most revolutionary approach to increasing access to the Central African Republic.

Upcoming ICOs

Celestia:

Today, Celestia (TIA) launches its highly anticipated ICO, already securing an impressive $56.5 million in funding pre-launch. Celestia offers a modular data availability network, enabling secure, user-scalable blockchain launches.

Key advantages are rapid deployment, dynamic scaling based on user volume, customizable application creation, and the ability to build sovereign rollups. As a minimal blockchain, Celestia orders and publishes transactions, separating consensus and execution layers to empower decentralized app development further.

Openfabric AI:

Openfabric AI (OFN) is generating significant buzz in the cryptocurrency space with its upcoming token sale set to start this Friday. Despite not having officially launched, OFN has already achieved a remarkable 77% of its fundraising target, amassing an impressive $4.13 million.

OFN positions itself as a decentralized AI platform, fostering collaboration among AI innovators, data providers, businesses, and infrastructure providers.

This synergy aims to catalyze the development and deployment of innovative intelligent algorithms and services. As the ICO gears up for its launch, all eyes are on OFN, making it a project to watch closely for potential investors and enthusiasts.

Neptune Mutual:

Neptune Mutual (NPM) is poised for an upcoming ICO to raise $300,000 through a token sale. Impressively, the project has already amassed $10 million in funds pre-launch.

This groundbreaking platform introduces the first-ever parametric insurance protocol on Ethereum, offering tailored cover policies for specific communities and diverse risk management opportunities for liquidity providers across various projects in DeFi, CeFi, and the Metaverse. Dedicated Covers safeguard communities, while Diversified Covers allow risk diversification for capital providers, expanding coverage across different sectors.

Ended ICOs

Neutron:

The Neutron (NTRN) ICO ended, ushering in a new era for DeFi dApps, amassing $10 million. Offering unparalleled security, Neutron is a permission-less smart contract platform for Interchain DeFi.

Its strength lies in enabling developers to launch scalable applications across 50+ connected blockchains via IBC. Key advantages include permissionless launches, seamless IBC connectivity, and the ability for smart contracts to execute queries and transactions across diverse networks.

Backed by 190M+ staked ATOM, Neutron stands as the most secure CosmWasm platform, powered by Tendermint for default interoperability and secure smart contracts.

Pop Social:

The Pop Social (PPT) ICO concluded remarkably, surpassing its $130,000 goal with a notable $4.13 million raised. Recent chatter within the crypto sphere has highlighted the initiative's momentum.

The Pop ecosystem's sustainable model ensures a continual flow of PPT, fostering value capture from users and creators. This accumulated value is redistributed to the community based on contributions.

Initially on BNB Smart Chain and Polygon, Pop is expanding to several other chains, marking a move towards a multi-chain presence.

Hottest Airdrops

Scroll Airdrop:

1.   Go to the Scroll mainnet page, and then integrate the Scroll network into your Metamask.

2.   Head to Rhino.fi, link your ETH wallet, and authenticate two messages (no gas fees). Scroll suggests using the Rhino.fi bridge, listed on their website, for the process.

3.   Transfer your ETH, USDT, or USDC from the Ethereum mainnet to the Scroll mainnet using the bridge. Take advantage of Rhino.fi's ongoing campaign offering free bridging to Scroll!

4.   Purchase ETH on Binance. If you lack any cryptocurrency funds, you can directly deposit fiat on Binance and buy ETH.

5.   Experience the dApps already operational on the Scroll mainnet, such as the Scroll Name Service; this might also render you eligible for potential airdrops. You can view the complete list of live dApps in the Scroll ecosystem here.

6.   Utilize Rhino.fi to transfer funds from the Scroll Mainnet to the Ethereum Mainnet, as each transaction increases the chances of qualifying for a potential airdrop.

7.   Furthermore, consider bridging from Scroll to zkSync, Base, Polygon zkEVM, Manta, Linea, or Optimism, as this may make you eligible for various other potential airdrops.

8.   Early adopters engaging in mainnet activities may receive an airdrop if they launch their own token.

LayerZero Airdrop:

1.   Explore the LayerZero X Aptos Bridge platform.

2.   Connect your wallet to the platform.

3.   Facilitate the transfer of assets to and from Aptos via the bridge.

4.   Utilize other LayerZero-based dApps such as the Bitcoin bridge, Stargate Bridge, Aptos Pancake bridge, Pontem LiquidSwap Bridge, and Metis Bridge.

5.   Holding or staking "STG" on Stargate might make you eligible for an airdrop. STG tokens can be acquired from Binance.

6.   While LayerZero currently doesn’t have its native token, there are plans for a potential launch in the future.

7.   Users engaging with the LayerZero dApps might receive an airdrop if they themselves launch a token.

8.   It's important to note that the possibility of an airdrop is speculative, and there is no guaranteed assurance of its occurrence.

Maverick Protocol Airdrop:

1.   Access the Maverick Protocol airdrop claim page.

2.   Connect your wallet to the platform.

3.   If you meet the eligibility criteria, you can claim free MAV tokens.

4.   MAV tokens are already listed on Binance and KuCoin if you are seeking an exchange to trade your tokens.

5.   The airdrop claiming process occurs on both the Ethereum and zkSync Era chains, so it's essential to check both networks.

6.   Rewards will be determined based on a combination of various factors:

·         Liquidity Providers, considering Total Value Locked (TVL) and duration

·         Users with contributor or higher roles in the Maverick Warrior Program

·         Snapshot governance participants

·         Trading volume using the Maverick UI

·         Maverick MAVA NFT holders

7.   The snapshot of eligible users was taken on June 22nd, 2023, at 20:00 UTC.

8.   A total of 26,155 Ethereum wallet addresses and 96,075 zkSync Era wallet addresses are eligible to claim MAV tokens.

9.   Additionally, you have the option to stake your MAV tokens for a chosen duration to receive an increasing amount of veMAV tokens. veMAV is a non-transferable token utilized for protocol governance.

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!