Weekly Wobble: Crypto Market Sees Ups and Downs

Dear Readers,

The crypto market is seeing some ups and downs. While Bitcoin, Solana, XRP, Cardano, Tron, and NEAR Protocol gained in value, others like Ethereum, BNB, Dogecoin, Toncoin, Shiba Inu, and Chainlink fell. Overall, the global cryptocurrency market cap dipped slightly, by 0.09%, to around $2.43 trillion in the last day. Bitcoin itself rose 0.5% to $66,617 as of last check, while Ethereum fell below $3,200.

Highlights Of The Week

• Binance faces new class-action lawsuit in Canada over alleged violation of local securities laws.

• Velvet Capital temporarily shuts down website to thwart major phishing attempt. 

• PayPal proposes incentivizing sustainable Bitcoin mining to enhance economic attractiveness.

• Hut 8's expansion plans endorsed by Benchmark for increased competitiveness post-halving.

• Manitoba extends moratorium on new electrical service requests for cryptocurrency operations.

• SEC seeks billions in penalties against Terraform Labs and co-founder Do Kwon.

• Hong Kong's crypto firms urged to establish self-regulatory committee by Hong Kong Securities & Futures Professionals Association.

• Shiba Inu raises $12 million in private token sale for its upcoming TREAT utility and governance token.

Top Weekly Gainers

Within the dynamic realm of cryptocurrency, notorious for its erratic behavior, savvy traders showcase an ability to spot Weekly High Performers teeming with promising avenues for financial advancement. By embracing a proactive mindset and meticulously tracking market patterns and price fluctuations, investors can leverage these opportune moments, potentially transforming their investment strategies for optimal results.

Openfabric AI (OFN), a decentralized Layer 1 AI protocol, surged an impressive 81.87% in last 7 days, making it the top gainer among the listed cryptocurrencies. This project aims to build and connect AI applications by harnessing the power of blockchain technology. Its current price sits at $0.6361 with a daily volume of $1.99 million.

Akash Network (AKT), another noteworthy weekly gainer, increased by 67.46%. This price surge likely stems from its recent listing on UpBit, a prominent cryptocurrency exchange in South Korea. Akash Network is currently priced at $5.96 with a daily volume of $62.90 million.

Automata Network (ATA), a modular attestation layer that verifies the authenticity of computing machines on the blockchain, saw a significant price increase of 59.45% in the last 7 days. Its current price is $0.2261 with a daily volume of $19.47 million.

Aleph.im (ALEPH), an open-source crosschain network offering decentralized database functionalities, experienced a gain of 57.43% over the past week. The current price of ALEPH sits at $0.2569 with a daily volume of $11.34 million.

Ontology (ONT), a project focused on decentralized digital identity solutions, jumped 45.41% in price over a week. This rise in price coincides with the growing interest in Web3 technologies. The ONT Coin team's recent $10 million incentive program to promote innovation in decentralized identity solutions might be another contributing factor. The current price of ONT is $0.4806 with a daily volume of $379.52 million.

Top Weekly Losers

Amid the constant evolution of cryptocurrencies, weekly narratives emerge, shedding light on triumphs and trials. Those engaged in this domain grapple with regulatory shifts, market uncertainties, and undue media scrutiny, arriving at a pivotal moment. Despite setbacks, this week presents traders and investors with a pivotal opportunity to evaluate strategies and carve a path toward success. Notable declines were witnessed in multiple cryptocurrency tokens throughout the week.

Neurashi (NEI), an AI blockchain framework, took the biggest hit over the past week among the listed cryptocurrencies. Its price plunged a concerning 49.13%, bringing it down to its current price of $0.002962. Despite the drop, its daily trading volume remains on the lower side at $302,945.

Omni Network (OMNI) also suffered a significant loss in the last 7 days, with its price dropping 41.56%. This comes despite the recent positive news of a $600 million deal with Ether.Fi. The current price of OMNI sits at $24.27, with a daily volume of $88.52 million.

PolkaBridge (PBR), a decentralized cross-chain protocol, wasn't spared from the market downturn over the past week. Its price fell by 40.63%, bringing it down to $0.0821. The daily trading volume for PBR is also on the lower side at $3.85 million. PolkaBridge is specifically engineered to serve as the key link between Polkadot and various other blockchains.

L7 (LSD), a Web3-based digital asset management protocol, saw a price decrease of 34.77% in the last 7 days. The current price of LSD is $1.70, with a daily volume of $1.88 million.

MATH (MATH), a one-stop crypto platform offering various functionalities, experienced a 1-week decline of 19.52%. Despite the drop, its price remains relatively higher at $0.4772 compared to other losers on this list. The daily trading volume for MATH is also moderate at $2.22 million.

Hot ICOs To Watch Out For

Active ICOs

First up is SatoshiDEX, a decentralized exchange (DEX) built on the Stacks blockchain. This innovative platform leverages Proof-of-Transfer (PoX) consensus to connect directly with the Bitcoin network. Their ICO kicked off on February 29th and is approaching its closing date of April 30th. So far, they've raised a respectable $1.5 million, but they're still pushing towards their fundraising goal of $2.2 million.

Next, we have X RAYS, a protocol specifically designed to simplify the development and monetization of decentralized applications (dApps) within the DeFi (Decentralized Finance) space. Their user-centric approach even integrates an xMarketplace with gamified incentives to further boost engagement. X RAYS launched their ICO a bit later, on April 10th, and they're aiming to raise $2 million by May 25th.

Finally, there's XSwap, the first Cross-Chain Swaps Protocol powered by Chainlink's CCIP (Chainlink Communication Inter-Process Protocol). This project just started its ICO on April 17th and has a tight deadline of April 24th to reach its $2.1 million target.

Upcoming ICOs

Mocaverse gears up for launch! This highly anticipated membership NFT collection by Animoca Brands offers exclusive access to the company's extensive network of projects, investments, and partners. The sale kicks off on April 25th and concludes on May 2nd, with a fundraising goal of $36,890,000.

Looking to get involved in DeFi (Decentralized Finance)?  Keep an eye out for Umoja, a protocol launching sometime in April that empowers users to build self-sustaining financial instruments. While the exact start date remains TBA, their $10,000,000 fundraising goal suggests a significant project with far-reaching ambitions.

Calling all gamers! Engines of Fury, a Runescape-inspired duel arena game built on Unity, is also getting ready for its ICO in April (specific date to be announced). With rich 3D visuals and a variety of single and multiplayer modes, this project is poised to ignite the gaming world. The fundraising target is set at $4,500,000.

Ended ICOs

Letit wrapped up its ICO on April 20th!  This online platform, known for its Letit Tracker application, empowers traders of all levels to improve their financial market results by providing tools for accounting and analyzing trade transactions. They achieved their fundraising goal of $1,430,000, demonstrating strong investor confidence in their mission to enhance trading decision-making.

Snapmuse.io, the web3 funding platform specifically designed for the entertainment industry, also concluded its ICO on April 18th. Founded by the team behind Snapmuse.com, this innovative platform offers fans a novel way to support creative projects from musicians and social media creators to gaming studios. They raised their entire funding goal of $1,550,000, paving the way for a more direct connection between fans and creators in the web3 space.

Y8U AI capped off its ICO on April 18th, reaching its fundraising target of $900,000. This Web3 protocol focuses on user privacy and empowers individuals to create and securely store digital clones.  The successful ICO indicates a growing interest in user-centric decentralized storage solutions within the web3 landscape.

Hottest Airdrops

BlastOff

• Go to BlastOff airdrop page.

• Connect your Blast wallet.

• Have ETH/USDB in Blast.

• Use Rhino.fi to bridge ETH.

• Swap ETH to USDB with Thruster.

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• Earn OFFxPoints for staking.

• Get 100 OFFxPoints per ETH.

• Receive 25% of referral's OFFxPoints.

• 100% Blast Points & Gold to stakers.

• Join Galxe campaign.

• Airdrop: 100,000 OFF tokens.

• 80% to points holders, 20% to Galxe.

• Check article for airdrop details.

• Explore Blast airdrop article for more.

Challenge.gg

• Visit Challenge.gg airdrop page.

• Connect your wallet.

• Hold minimum 0.001 ETH.

• Get ETH from Binance if needed.

• Complete social tasks.

• Earn 400 Challenge tokens.

• Refer friends for 50 tokens each.

• Maximum 10 referrals.

• Rewards by May 7th, 2024.

• Check page for more info.

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!