Weekly Crypto Trends: Market Movements, Top Cryptos, and NFT Rundown

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Dear Readers,

The cryptocurrency market appears to be consolidating ahead of the upcoming U.S. elections. Bitcoin (BTC) recently surged past the $70,000 mark, reaching a peak of $72,260, yet still below its all-time high, and posting a minor dip of less than 1% in the past 24 hours. Other major cryptocurrencies, such as Ethereum (ETH), XRP, Solana (SOL), Binance Coin (BNB), and Tether (USDT), have also seen small decreases in value. The overall global cryptocurrency market cap saw minimal fluctuation, recording a slight 0.42% drop to settle at $2.43 trillion. This modest market shift could reflect cautious investor sentiment as participants await potential policy changes or market impacts following the U.S. elections.

Highlights of The Week

• Crypto firms support a lawsuit by a Texas apparel company and the DeFi Education Fund against the SEC over crypto asset classification and regulatory clarity.

• MicroStrategy, led by Michael Saylor, plans to raise $42 billion in the next three years to acquire more Bitcoin through its "21/21 plan."

• Canary Capital has filed for a spot Solana ETF with the U.S. securities regulator, following similar applications by VanEck and 21Shares.

• Coinbase expresses optimism for pro-crypto legislation in the upcoming Congress, as a key partner of the Fairshake PAC and Stand With Crypto initiative.

• Kazakhstan launches a pilot project with its CBDC to enhance VAT reimbursement processes, in collaboration with the Ministry of Finance and the National Bank of Kazakhstan.

Crypto Fear & Greed Index

The latest reading of the Crypto Fear & Greed Index remains at a high of 77, maintaining the "extreme greed" sentiment observed the previous day. This stability in the index comes as cryptocurrency prices have surged recently, with Bitcoin approaching its all-time high. The elevated sentiment suggests growing investor confidence and a heightened willingness to engage in the market.

ATH Coins

Reaching an all-time high (ATH) reflects a cryptocurrency's exceptional performance and growing investor interest. However, even at ATH levels, market volatility remains a crucial factor. Conducting in-depth research is essential before considering investments in coins at their peak. Here’s a look at the latest top performers that have achieved new ATHs.

Alien Base (ALB), a next-gen decentralized exchange (DEX), hit an all-time high (ATH) of $0.3046 on October 31, 2024. ALB now trades at $0.2797, boasting a trading volume of $1.10 million and exemplifying innovation in the evolving DEX landscape.

Coupon Assets (CA), launched by RADAR LAB (USA) in 2018, reached ATH of $1.05 today, and is currently trading at $1.05 with a volume of $3.93 million. As a highly liquid crypto asset with attributes of bonds and promissory notes, CA reflects significant integration with the global financial market.

The Balkan Dwarf (KEKEC), a memecoin inspired by the Balkan cultural icon KEKEC, reached a high of $0.001006 today, with current prices at $0.0009063 and a $2.72 million volume.

Fwog (FWOG), also on the rise, attained an ATH of $0.3042 on October 30, 2024, with its current price at $0.2909 and a trading volume of $19.21 million.

The Arena (ARENA), Avalanche's leading socialfi app, recorded an ATH of $0.012 on October 30, 2024, with its price now at $0.009285 and a trading volume of $1.35 million. The Arena enhances creator engagement through ticket trading, tipping, and exclusive communities, marking it as a major player in the socialfi space.

Top Movers (24H)

Currently priced at $0.01378, Shoggoth (SHOGGOTH) has experienced a 74.51% increase, with a trading volume of $2.84 million. Shoggoth is a decentralized digital currency that leverages blockchain technology to facilitate secure transactions. As an emerging player in the global digital currency space, Shoggoth aims to provide a robust and adaptable solution for global transactions.

Priced at $32.80 with a growth of 53.43%, Ethervista (VISTA) boasts a trading volume of $21.11 million. VISTA is the native currency of the Ethervista DEX and has a capped supply of one million tokens. Ethervista's protocol is deflationary by design, with on-chain smart contracts implementing a burn mechanism that reduces the circulating supply while incrementally increasing the token's price floor, adding a unique value-compounding aspect for holders.

Trading at $0.03186, Pip (PIP) has seen a 43.51% increase, with a volume of $1.35 million. PIP serves as the payment layer of Web3, designed to support the ecosystem of crypto with a focus on micropayments. Its infrastructure simplifies the use of cryptocurrency for daily transactions, aiming to enhance accessibility for everyday users.

Instadapp (INST), currently at $1.89 and up by 40.02%, has a trading volume of $1.30 million. Instadapp is a leading DeFi platform that enables users and developers to manage and build decentralized finance portfolios. As a highly advanced DeFi platform, Instadapp helps users unlock the full potential of decentralized finance through its sophisticated tools and capabilities.

With a current price of $0.1079 and an increase of 27.48%, PowerPool (CVP) has a trading volume of $1.99 million. PowerPool is a protocol that operates the decentralized and permissionless DePIN network, PowerAgent V2, which supports DeFi automation. By empowering AI Agents, PowerPool provides a reliable, cost-effective solution for transaction automation, broadening the reach of decentralized finance through cutting-edge technology.

Non-Fungible Tokens – Developments

• NFT sales reached $89.26 million last week, marking a 7.11% decline; however, NFT buyers increased by 42.2%, and sellers by 52.55%, per CryptoSlam data via Odaily.

• The Shiba Inu (SHIB) team launched an NFT bridge on Shibarium, their Layer-2 blockchain, enhancing support for Ethereum-based NFTs.

• At Korea Blockchain Week 2024, Marblex, a Netmarble subsidiary, unveiled NFT Adventure, an interactive platform featuring IP-based fan engagement and blockchain-integrated collectibles, debuting with "Koongyaz Universe Odyssey."

NFTs To Watch (24H)

Bored Ape Yacht Club

The Bored Ape Yacht Club continues to capture attention, boasting a trading volume of 136 ETH, reflecting a significant change of 70%. With a current floor price of 11.5355 ETH and 12 sales recorded, this collection of 10,000 unique Bored Ape NFTs remains a highly sought-after asset on the Ethereum blockchain, embodying the essence of digital collectibles.

Courtyard.io

In the world of tokenized assets, Courtyard.io is making waves with a trading volume of 71.51 ETH, marking a notable 45% increase. This innovative marketplace allows users to buy, sell, and trade physical cards on the blockchain, making ownership more accessible. With a floor price of 17.9757 POL and 5,278 sales, Courtyard.io is redefining how collectibles can be owned and exchanged.

Pudgy Penguins

Pudgy Penguins is also worth watching, with a trading volume of 69.9 ETH and a 14% change. This collection, which consists of 8,888 NFTs, is committed to advancing Web3 innovation through intellectual property utilization and community empowerment. Currently, the floor price stands at 9.25 ETH, with 8 sales logged, underscoring its growing popularity in the NFT space.

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

Best Regards,
Crypto Recorder Team

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