Weekly Crypto Roundup: Analyzing Sentiment, Top Performers, and the NFT Hype

Dear Readers,

The market dynamics on December 28 favored Bitcoin, which exhibited a discernible gain of 0.84%, positioning its value at $43,038. However, the standout performer of the day was Ethereum, showcasing a robust ascent of nearly nine percent over the last 24 hours. Ethereum confidently breached the $2,400 mark, outshining its cryptocurrency counterpart.

Highlights Of The Week

• PancakeSwap developers plan to reduce the maximum supply of CAKE token from 750 million to 450 million in their decentralized exchange (DEX) ecosystem.

• Ethereum co-founder Vitalik Buterin proposes a solution to simplify and lighten the load on the Ethereum blockchain by implementing a proof-of-stake (PoS) consensus.

• Trading volumes for Marathon Digital stocks, a Bitcoin miner, surge to the top among U.S. mid and large-cap stocks ahead of the expected approval of a spot Bitcoin exchange-traded fund (ETF).

• Bitzlato crypto exchange temporarily suspends all Bitcoin withdrawals just weeks after its co-founder agreed to dissolve the exchange in a Brooklyn court as part of a guilty plea.

• Worldcoin introduces identity verification services for Singapore residents following a reduction in operations in India.

• The Eastern Caribbean Central Bank (ECCB) initiates the discovery process for the launch of a retail central bank digital currency (CBDC), named DCash 2.0, by issuing a request for vendor information (RFVI).

Crypto Fear & Greed Index

The Crypto Fear & Greed Index is currently at 73, indicating a prevailing sentiment of greed. This mirrors yesterday's and last week's readings of 73 and 70, respectively. The market's optimism aligns with speculation that the US securities regulator is nearing approval for an exchange-traded fund directly investing in the leading cryptocurrency token. This anticipation likely fuels the ongoing positive sentiment, with investors showing confidence in the potential for mainstream adoption and increased investment opportunities.

ATH coins

When a cryptocurrency hits its peak market value, it secures a spot among the prestigious ATH coins. This indicates a substantial surge in coin demand, but it doesn't guarantee ongoing growth. Given the significant volatility in the digital currency sphere, thorough research and analysis are vital before contemplating investments in ATH coins. Presently, the ensuing coins have excelled as exceptional performers, reaching notable ATH milestones in recent periods:

Today, swETH (SWETH) reached its all-time high (ATH) price at $2,549.19, making waves in the crypto market. Currently priced at $2,482.70 with a trading volume of $1.82 million, swETH stands out as a decentralized and non-custodial liquid staking token. It offers users the unique opportunity to earn staking rewards while maintaining liquidity over their Ethereum holdings.

SmarDex (SDEX) has also achieved its ATH today at $0.017, with a current price and volume at $0.017 and $2.21 million, respectively. SmarDex is set to revolutionize the decentralized exchange (DEX) landscape with its innovative approach.

Vyvo Coin (VSC) reached an ATH price of $0.0366 today and currently trades at $0.0342, with a volume of $643,450. Vyvo Smart Chain, the backbone of VSC, operates as a HealthFi ecosystem, incentivizing and rewarding positive lifestyle habits through health data monetization.

ViciCoin (VCNT) reached an ATH of $11.56 today and is currently priced at $11.19, with a volume of $636,429. VCNT serves as a utility token, providing access to protected content, services, web applications, and live events, including Zoom video conferencing.

Niza Global (NIZA) Lastly, Niza Global (NIZA) achieved an ATH price of $0.02631 yesterday and currently trades at $0.02529, boasting a substantial volume of $7.21 million. Niza Coin (NIZA), an Ethereum-based (ERC20) token, acts as the native digital currency within the Niza Global ecosystem, facilitating transactions and serving as a unit of account and store of value.

Top Movers (24H)

As the cryptocurrency market continues to solidify its standing as a reliable investment choice, individuals who once approached it with caution are now wholeheartedly adopting it and expanding their investment portfolios to encompass a diverse array of digital assets. Moreover, contemporary crypto investors are reinforcing their positions, leading to substantial price surges in numerous cryptocurrencies over the last 24 hours. In the past 24 hours, the crypto market has witnessed significant movements, with some standout performers.

PAAL AI (PAAL) has demonstrated a surge of 48.24%, climbing from a low of $0.1051 to the current price of $0.1558, with a trading volume of 4.93 million. PAAL AI distinguishes itself as an advanced chatbot leveraging AI and ML technologies, capable of handling tasks that traditionally demand human intellect, including natural language understanding, image recognition, decision-making, and problem-solving.

Another noteworthy mover is VisionGame (VISION), experiencing a 41.35% increase, rising from $0.004433 to $0.006266, with a trading volume of $1.09 million. VisionGame stands out by bringing the conventional game publishing experience to the blockchain realm.

SKALE (SKL) has also soared by 42.39%, from a low of $0.06273 to the current price of $0.08932, backed by a substantial trading volume of $191.78 million. Beyond these metrics, SKALE Network has recently formed a strategic partnership with Granted, aiming to offer promising opportunities for applications across the web3 landscape.

Meanwhile, PAWSWAP (PAW) has seen a rise of 38.31%, climbing from $0.00000002798 to $0.0000000387, with a trading volume of $2.44 million. PAW, an ERC-20 token born on the Ethereum blockchain, not only represents a token but is an integral part of the thriving PawChain community, boasting a total supply of 1 quadrillion.

Lastly, SHILL Token (SHILL) experienced an upward movement of 32.76%, rising from $0.01618 to $0.02148, with a trading volume of $4.45 million. SHILL Token serves as the utility token for Project SEED, an AAA Game Studio that pioneers a mobile-focused blockchain gaming ecosystem integrating Governance, GameFi, and NFT.

Non-Fungible Tokens – Developments

• Sotheby’s reports digital art sales nearing $35 million in 2023, marking it as one of the most exciting years for digital art, according to Michael Bouhanna, the company’s VP and head of digital art.

• Starbucks introduces NFT loyalty reward, Starbucks Odyssey, offering an all-expense paid trip to Costa Rica for the top 20 NFT holders.

• Former U.S. President Donald Trump liquidates a substantial amount of Ether (ETH) earned from NFT sales, transferring 1,075 ETH into Coinbase since December 8.

NFTs To Watch

Over the past 24 hours, several notable NFT collections have emerged as standout performers.

The Grapes

The Grapes has exhibited significant activity with a trading volume of 200 ETH, experiencing a change of 194%. The floor price currently stands at 1.25 ETH, and the collection has witnessed a total of 172 sales. Grapes is a delightful and globally appealing collection of 3,333 handcrafted NFTs, blending cross-media entertainment with gaming, TV, products, and licensing at its core.

Pixelmon - Generation 1

Pixelmon - Generation 1 has also made its mark, boasting a trading volume of 137 ETH and a notable 57% change. The floor price stands at 1.92 ETH, and the collection has accrued a total of 73 sales. The Pixelmon Generation 1 NFT stands at the core of the complete Pixelmon ecosystem, offering users exclusive benefits such as Pixelmon Land airdrops, Token airdrops, enhanced in-game earnings, and early access to the Alpha game release.

The Captainz

Not to be overlooked, The Captainz has experienced exceptional growth, commanding a trading volume of 121 ETH and 611% change. With a floor price of 4.42 ETH, the collection has garnered 26 sales. The Captainz NFT features 9,999 adventurous Captainz and their pirate crews, navigating the Broken Seas in pursuit of the legendary treasure called "Memeland." 

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

Best Regards,
Crypto Recorder Team

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