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Weekly Crypto Watch: Uncovering Winners, Losers, ICO Trends, and Airdrops
Crypto Recorder Team
January 30, 2024
Crypto Recorder is a bi-weekly email newsletter Powered by StocksTelegraph.com
Dear Readers,
After experiencing some selling pressure last week, Bitcoin has once again demonstrated resilience, reaching up to $43,500 levels earlier today. This revival in Bitcoin's price coincides with a positive outlook surrounding the upcoming FOMC meeting. Notably, GBTC outflows have tapered off, while Bitcoin ETF inflows remain consistent. At the time of writing, Bitcoin is trading 3.21% higher at $43,420, and Ethereum has risen by 2.12% to $2,306. Simultaneously, the global cryptocurrency market cap has surged by 2.93%, reaching approximately $1.67 trillion in the last 24 hours.
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Highlights Of The Week
Bank of Japan (BoJ) holds first official meeting with government to discuss central bank digital currency (CBDC)
Government and BoJ aim to resolve legal issues related to issuing digital yen by spring 2024
Spot Bitcoin ETF approvals seen as a historic milestone, but considered a "stepping stone" by Solana Foundation's Sheraz Shere
Lawsuit alleges at least two individuals behind a $1.7 billion cryptocurrency fraud scheme, involving fake plans for listing on Hong Kong stock exchange and hiring an actor as CEO
Proposed regulatory framework suggests designating neutral DeFi protocols as "critical infrastructure" overseen by federal cybersecurity agencies in the US
Fidelity's spot Bitcoin ETF attracts $208 million in daily inflows on Jan. 29, surpassing outflows from Grayscale Bitcoin Trust (GBTC) for the first time since launch
Cryptocurrency price slump, attributed to GBTC outflows, may be causing outflows from digital asset investment products in Europe and Canada, according to CoinShares
European Securities and Markets Authority (ESMA) releases consultation papers on MiCA regulation, covering reverse solicitation and crypto assets qualifying as financial instruments
Hong Kong's Securities and Futures Commission sets minimum 50% insurance requirement for licensed crypto exchanges handling customers' assets.
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Top Weekly Gainers
Amidst the dynamic landscape of the cryptocurrency domain, renowned for its inherent unpredictability, astute traders exhibit a flair for pinpointing weekly frontrunners brimming with lucrative prospects for financial advancement. By embracing a forward-thinking approach and meticulously monitoring market trends and price variations, investors can seize these opportune moments, potentially revolutionizing their investment tactics for optimal outcomes.
Sovryn (SOV) takes the lead with a surge of 155.46% in just a week, currently priced at $1.75, and boasting a trading volume of $1.05 million. The platform's announcement of the Bitcoin OS protocol upgrade, which introduces roll-up technology as a "superlayer" on the Bitcoin network, likely contributed to this significant uptrend.
Omax Coin (OMAX) follows closely, exhibiting a 104.51% increase in a week, priced at $0.00429, with a trading volume of $2.65 million. OMAX Chain, functioning as a decentralized open-source blockchain, supports various cryptocurrencies and facilitates decentralized smart contracts.
Aleph.im (ALEPH) comes in third, with a price of $0.3097 and a weekly increase of 75.92%, accompanied by a trading volume of $2.55 million. The recent launch of the innovative Twentysix Cloud by Aleph.im adds to its appeal.
Solidus Ai Tech (AITECH) stands out as the world's first deflationary Artificial Intelligence utility token, experiencing a commendable 59.13% price jump in the last week, currently valued at $0.08045. Solidus Ai Tech has not only captivated investors with its unique utility but also with its commitment to environmental sustainability.
Altlayer (ALT) has soared in value by 52.95% within the week, now priced at $0.4275, with a trading volume of $317.05 million. The catalyst for this surge was undoubtedly Altlayer's listing on Binance, one of the largest and most influential cryptocurrency exchanges. As an open and decentralized protocol for rollups, AltLayer's integration with Binance has significantly expanded its market reach, contributing to its price increase.
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Top Weekly Losers
In the dynamic landscape of the cryptocurrency realm, participants grapple with a blend of weekly triumphs and adversities, navigating the impacts of regulatory changes, market oscillations, and unfavorable media attention. Despite setbacks brought by losses, this juncture stands as a pivotal moment for traders and investors to evaluate their strategies, analyze the factors contributing to setbacks, and purposefully chart a course for future investments leading to success. In this week's cryptocurrency market, numerous tokens experienced significant declines.
SatoshiVM (SAVM) witnessed a substantial 58.48% downturn, with the current price standing at $3.63 and a trading volume of $7.87 million. This decentralized Bitcoin ZK Rollup Layer2 solution, compatible with the Ethereum Virtual Machine (EVM) ecosystem, utilizes native BTC as gas.
Konomi Network (KONO) follows closely, experiencing a 42.02% decline in a week, with the current price at $0.02159 and a trading volume of $1.07 million. Konomi aims to provide a comprehensive asset management solution for cross-chain crypto assets within the Polkadot ecosystem.
Siacoin (SC) plunged by 33.50%, with a current price of $0.008876 and a trading volume of $40.97 million. Siacoin serves as the native utility token for Sia, a decentralized cloud storage platform.
UMA (UMA) faced a 24.05% decrease, currently priced at $4.97, with a trading volume of $75.11 million. Founded in 2018, UMA strives to create universally fair, accessible, secure, and decentralized global markets.
Myro (MYRO) witnessed a fall of 35.61% in the past week, currently priced at $0.1151, with a trading volume of $55.55 million. Adding a unique aspect to the list, Myro is named after Solana Founder Raj Gokal's dog.
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Hot ICOs To Watch Out For
Active ICOs
SkyArk Chronicles
The SkyArk Chronicles Initial Coin Offering (ICO) commenced on January 26 and is set to conclude on January 31, having raised $15,000,000. SkyArk stands out as a Triple-A game creation system and online gaming platform, drawing attention and support from the renowned Binance Labs.
BeFi Labs
BeFi Labs initiated its ICO on January 19, with the sale slated to continue until February 03. The current fundraising total stands at $1,260,000, contributing towards its overall goal of $2,300,000. BeFi Labs distinguishes itself by leading the charge in CeDefi innovation, pioneering the convergence of Web3 users into the expansive BRC20 ecosystem.
Ta-da
The Ta-da ICO started on January 18 and is scheduled to run until February 09, having raised $3,450,000 out of its $4,550,000 fundraising target. Ta-da's platform is designed to facilitate seamless interactions between AI companies and users, promising a streamlined experience for both parties involved. This ICO aims to play a pivotal role in enhancing the synergy between artificial intelligence and user engagement.
Upcoming ICOs
Nibiru
Nibiru Chain's upcoming Initial Coin Offering (ICO) is set to commence on February 01 and will conclude on February 02, with a fundraising goal of $11,500,000. Nibiru Chain positions itself as a breakthrough Layer 1 (L1) blockchain and smart contract ecosystem, promising superior throughput and unparalleled security.
Meson.Network
Meson.Network is gearing up for its ICO, scheduled to start on February 08 and end on February 09, with a fundraising goal of $12,250,000. The project aims to revolutionize Web3 by introducing a streamlined bandwidth marketplace through a blockchain protocol. This forward-thinking approach seeks to replace antiquated labor-based sales models, potentially reshaping the dynamics of the current web infrastructure landscape.
GMatrixs
GMatrixs, slated to start its ICO in February without exact dates, is aiming to raise $6,500,000. Positioned as the first technology-focused Web3.0 integrated service eco-platform in the GameFi space, GMatrixs holds promise in bridging the worlds of technology and gaming.
Ended ICOs
IvendPay
IvendPay recently concluded its Initial Coin Offering (ICO) from January 23 to January 28, raising $3,780,000, which matched its fundraising goal. IvendPay serves as an international payment service, offering businesses the capability to accept cryptocurrency payments through a variety of channels, including point-of-sale (POS) terminals, mobile apps, e-commerce platforms, APIs, and vending machines.
Project Hive
The ICO for Project Hive concluded from January 20 to January 24, reaching its fundraising goal of $1,410,000. Project Hive distinguishes itself as a Play-to-Earn turn-based RPG, featuring NFT items, a Clans system, high-quality 3D graphics, and an engaging PVE campaign.
CodeX
CodeX recently wrapped up its ICO from January 22 to January 24, meeting its fundraising goal of $2,160,000. CodeX provides an all-in-one, no-code DApp development platform, enabling users to create, deploy, and manage complete decentralized applications (DApps) without the need for extensive coding knowledge.
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Hottest Airdrops
Parcl
Visit Parcl website.
Connect Solana wallet, complete onboarding.
Enter "airdropsio" in referrals for a 5% boost.
Provide liquidity in "Liquidity" using USDC (get from Binance).
Create and deposit USDC in trading account.
Go to markets, execute long or short trades.
Earn 1 point per day for 1 USDC (trading), 3 points for LP deposits.
HOA NFT holders get bonus points.
Get 10% of referred person's points.
Check article for more on points.
Accumulated points may lead to a future airdrop for token launch.
Undeads
Connect your wallet securely.
Complete tasks to earn points.
2,500,000 UDS distributed based on points.
Undeads NFT holders share 2,500,000 UDS.
Undeads game players share 5,000,000 UDS (need Undeads or partner NFT).
Visit Undeads site, check points on the dashboard.
NFT holders get multiplied scores and Loyalty Points.
Loyalty Points convert to UDS in February 2024, with date flexibility in a negative market scenario.
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!Weekly Crypto Watch: Uncovering Winners, Losers, ICO Trends, and Airdrops