Author: Ammar Mukhtar

Recently in the news, Bill Gates has come out and made a bold assertion that is sure to hurt the sentiments of NFT enthusiasts. He said that NFTs are based on the Great Fool Theory. This implies that the one who sells NFT is a fool but the one who buys the NFT is a bigger fool. Seeing that one of the biggest minds in the world is condemning the NFT market, it is sure to have an adverse effect on buyers, particularly considering the position of the market at the moment.

In other news, Ukraine is capitalizing on the crypto market. It has made architectural sites that are in danger of being destroyed by Russia into NFTs. This is more or less a tactic to gather funds by appealing to the sentiments of the larger western world.

Finally, the Bored Ape Ethereum NFT has fallen below $100K due to the status of the market.

NFTs to Watch

Bored Ape Yacht Club

The Bored Ape has been a symbol in the NFT market just as Bitcoin is a signal in the crypto market. The value of the NFT was around $429,000 but with the recent happenings in the market, the NFT has fallen below $100,000 for the first time in a year. Currently, the floor price for the token is around 86.85 ETH.

Otherdeed for Otherside:

Another Ethereum-based token is the top collection of the week. The NFTs of this kind are based on digital land NFts that can be built on by inhabitants which they can enrich. Currently, the floor price of the Otherdeed for Otherside is 2.03 ETH. Out of its 100,000 assets only 34.33% have been purchased. So, it is an open market.

Bird World Mystery Box:

This is the most popular NFT collection on the Binance smart chain. It does not come in cheap either with its floor price of around 798 BUSD. Out of its total, 2,999 assets, 34 are owned. In the last twenty-four hours alone, the NFTs have had a sale 1215 times.

The market is controlled by extreme fear at the moment. Investors are timid with pumping their investments and savings into something that most likely will not pan out in a profit.  Currently, the market has the Fear and Greed Index of 7 demonstrating extreme fear. This is the lowest it has been over the previous year. But this could symbolize a buying opportunity for opportunists. The recent rally does suggest the market may prove to be beneficial for adept investments.

From January 2022, the market cap has significantly dropped in value from $2 trillion to $1 trillion. In April the market came down in what seemed like a correction. But it was in May that the real fall of the market occurred. By the end of May, it did seem that the market was working towards stabilizing itself. But it was really being held on by the bulls until it fell down to $1 trillion. This is the lowest the market has been since January 2021.

Since the market is in a slump, this is a perfect opportunity for bear traders to capitalize on alt-coins that they feel have potential. This investment will result in a number of tokens achieving an all-time high. The following are the tokens:

NDAU

Ndau is one more association with elevated objectives, from certain perspectives. They need to make a stablecoin that expands in its vale. Considering that no legislatures have legitimized cryptographic forms of money, it is trying to accomplish this by coming into viable legal agreements. The traders keep on putting stock in the coin. At this time, the worth of NDAU is at an untouched high of $14.61.It has displayed positive growth even in this volatile market.

Peace DAO

Peace DAO is striving toward world peace. It is built on the BNB Smart Chain. Through their platform, Peace DAO wants to give those that work towards peaceful resolutions of conflicts a reward. In layman’s terms, PeaceDAO has the aspirations of a metaverse that will award the blockchain version of the Noble Peace Prize. PeaceDAO reached its all-time high value today of $2.38 which is a 133% increase from its all-time low.

OLOID

Artists should be rewarded for their art. This idea is not new to crypto and certainly, OLOID seems to understand this. The artists will be holders and through the platform, they will be rewarded in USDT. Through OLOID, investors can reinvest their money. Even though it reached its all-time low value a couple of days ago, it has managed to achieve an all-time high of $0.0109.

Beau Cat

The beauty-based coin has continued to grow and grow. It reached its all-time high value a couple of days ago at $43.45 but just in two days, it has gained a value of $55.44. Built on the Ethereum blockchain, Beau Cat provides a platform for its users for beauty-related products.

Tari World

Tari is a platform that shall allow businesses to network with each within a metaverse sort of setting. It is built on the Klayton chain. Through the Tari world, proper channels for communications for businesses shall be made and the second the fees shall be drastically reduced in cryptocurrency brokering. This coin has seen a constant climb over the last week too with it reaching its all-time high value of $18.98 today when it was at an all-time low on the 10^th of June.

Top Movers (24H)

The crypto market is attempting to stage a rally after a tumultuous week. But the movement still seems as volatile as ever. The usual suspects are faring better than others. Here are the biggest movers in the past twenty-four hours:

EGLD

EGLD is one of those coins that is attempting to pave its own way forward in face of the giants such as Bitcoin or Ethereum. Through sharding technology, EGLD wants to resolve the problem of scalability and employ an ecosystem conducive to the transactions of a digital currency. Over the past twenty-four hours, EGLD has seen an increase of 20.33%, the highest of the day. Its current value is $50.51.

TRX

This is the 14th-ranked coin on coinmarketcap. Over the last week, TRX has dropped from $0.081 to its current value of $0.05947.  But it was way in the dumps too. Over the past twenty-four hours, it has been trying to rally an increase. Currently, 18.61% in value has occurred. It was based on Ethereum but then moved on to its own network.

HNT

It seems as if HNT is always in the top movers and the gainers. The ambitious goal of HNT is not unknown to veteran traders in the market. But they also realize that there is a long way to go before the Internet-of-Things network is commercialized and popularized. Currently, the value of an HNT is $10.48 which is an increase of 16.80% over the previous week.

UNI

Known for its trading of DeFi tokens, Uniswap aims to become the platform where exchanges can occur seamlessly. Its efficiency relies on resolving liquidity through its automated system that happens in other decentralized exchanges. Furthermore, it has a governance token that will allow users on how they want to move forward with the token. Over the last day, UNI has also made a gain of 16.49%. Its current value is $4.

SOL

Solana is the ninth-ranked coin and it has big endeavors. Before the downward spiral of the market, Solana reached a value of $260.06 but due to the slow transactions and its system being off most of the time, the currency lost a lot of steam. But currently, it seems that bears are capitalizing on its price drop. Over the past twenty hours, it has seen a gain of 15.58%, and currently, its value is around $31.47.

After a terrible week for investors, traders, and developers alike, the crypto market is attempting to recover. Of course, this is the start of the rally. There are still fearful sentiments among traders to invest in the crypto market at the moment. They seem afraid that the market will fall further with the current conditions of the world. If the market shows stable growth in the coming few weeks, investors and traders will feel more confident coming into the market.

The following newsletter is to showcase what has been happening over the past week. The fear around the market is also to be expounded. There might be some NFTs to look at as well as some coins that have rallied in this tumultuous market.

Highlights of the week

• The announcement of the FED to raise the rates by 75 points allowed Bitcoin and Ethereum to rally a little.
• At the time of writing, the current value of BTC is $21,722.45 which is a 2.90% gain over the previous day but over the last week, it has lost 28.42% of its value.
• Ethereum has also made a positive stride with a gain of 4.34% over the last twenty-four hours, but it has also lost 35.26% of its value over the last week.
• Visa has launched cryptocards that will allow a cashback of bitcoin each time they are used. In the Latin American regions.
• Tron aims to stagnate the fluctuations in its stable coins by pumping $500 million USDs in the reserves, taking its over-collateralization to 310%.
• Kraken, FTX, and Binance are pushing for new hirings and expansions even with the current conditions of the market.
• Celsius might be preparing for bankruptcy as a great amount of liquidation and withdrawals have taken and there might be a storm of legal issues on the horizon.

This has not been a good week for crypto. With the recent raise in interest rate by FED on energy, the market is speculating that cryptocurrency will be heavily affected. Even those that have made a weekly profit are almost next to negligible. Nevertheless, the pattern of the market can be understood by examining which currencies have been able to sustain their holds in these uncertain times. Here are the top weekly gainers:

Top Weekly Gainers

LEO

This is the namesake token that is in use for the trading on iFinex trading platform. In the previous week, LEO has gained a value of 2.74% with its current price at about $5.37. The total volume of the coin is around $8.43 million. Unus Sed Leo, the platform behind the LEO token, works towards building a better infrastructure for innovative crypto technologies, sort of working like venture capitalists for cryptocurrency.

BSV

This is a fork of Bitcoin Cash which in turn is a fork of Bitcoin. Forks for these coins were made to resolve the issues that came out with the advent of Bitcoin. Following the recent events, it seems that many traders are attempting to stock BSV tokens because of its ability to carry out many transactions and since the market is in turmoil, BSV is being used to cash out Bitcoin. The current value of BSV is around $54.15 with an increase of 20.57% over the previous week.

Gemini Dollar

This is a stable coin created by Gemini. They follow a more traditional form of pinging by holding a number of USD corresponding to the number of dollars. This is one of the progenitor coins that is regarded as the first coins. Due to the change in the market, a lot of crypto liquidity is being transferred into GUSD. At the time of writing, there is an increase in the market but it is expected to fall back to a dollar soon.

HNT

HNT is aiming to create the Internet-of-Things by employing the nascent 5G technology to instill the decentralization of networks. This will allow many devices to connect with each other to create a decentralized network that has the privacy aspect of blockchain. This is the most practical use of blockchain technology. The investors see this as well. Hence, there has been no major decrease in its value over the previous week and the gain is up to 0.76%.

Binance USD (BUSD)

Another stable coin. If the general market is traversed, only the stable coins have been able to sustain a positive growth due to their holdings. BUSD is another example of a stable coin. It had a gain of 0.02% over the previous week.

Top Weekly Losers

CRV

CRV is a utility token of Curve DAO Token which is a decentralized exchange for stablecoins that manage liquidity. The protocol is endeavoring to become the forerunner of emerging decentralized finance. But their dreams are somewhat in doubt. For the previous week, the token lost 40% of its value and is currently priced at $0.7099. It is the biggest loser of the week.

APE

APE has lost its value by 38.62% with its price at around $3.70. It is attempting to regain its momentum at the time of writing. It is an ERC-20 coin that is to engage in the making of the web3. Democratic in nature, APE is a user-governed coin by the coin holders. There are about 292 million APEs in circulation.

KLAY

This is one of those gaming tokens that is striving to create the metaverse, gamefi, and the creator economy. Klaytn endeavors to expand by allowing developers freedom to create their own visions on their platform which will slowly build up the metaverse. But the metaverse seems like a distant dream right now as the current price of KLAY is $0.24 which is a 37.89% decrease over the past week.

AAVE

AAVE is another token that has sustained losses near 37.65% over the previous week. The current value of AAVE is $61.54. This protocol is used for people to lend or borrow crypto from a fixed liquidity pool that can transfer between currencies from its main network. These are Ethereum-based currencies only.

WAVES

This is the 67th-ranked coin in the market. Unlike most other tokens being built on Ethereum or Binance, WAVES is a token on the similarly named protocol that has more or less the same endeavors of coming to the top of the market. It has created space for decentralized applications and smart contracts. At the time of writing, the token has a value of $4.92, which is a 37.03% loss over the previous week.

DAO Labs

• Visit the DAO Labs airdrop page for more information.
• Become a member of their Telegram group and channel.
• On Twitter, you can follow them.
• Fill out the airdrop form with your information.
• You can get up to 150 BUSD if you work hard enough.

ASK

• Visit the Main Page.
• Sign up by submitting your information.
• Check your email.
• You’ll be given 100 ASK.
• To earn more ASK, complete daily chores.
• For each referral, you can earn up to 100 ASK.
• To earn 300 ASK for each referral, become an Ambassador.
• The rewards will be held in “Pending balance” until you complete your KYC verification, at which point they will be sent to your wallet.

Basic Attention Token:

• Download the Brave browser on your desktop.
• Start the browser and click on the BAT logo near the address bar and subsequently click Join Rewards.
• To reach the reward screen type “brave://rewards/” in the address power and Brave Ads on.
• By viewing the ads, you’ll automatically be given rewards.

Fragmint

This is a platform that aims at becoming the space where Formidable DAOs are traded with each other. The token sale will last from 6th June to 28th June. It is a BEP-20 token. The cost of 1 FRAG is equal to $0.04. Out of the 990,000,000 million FRAGs, there is 21.75% of it on sale.

Arralos

In view of the advertising, the offer of this token is going unnoticed. On the ICO, there isn’t a lot of data too. The liquidity of the executives is the convention’s vital objective. It depends on the ERC-20 chain and is non-custodial. The initial coin offering (ICO) started on May nineteenth and will end on September eighth. The aggregate sum of tokens to be raised is assessed to associate with 30 million SPICE.

Hop Protocol

This was a protocol that was anxiously anticipated by some in the market. This is a scalable rollup-to-rollup general token bridge. It is built on the ERC20 chain. The total number of HOPS is 1,000,000,000. Through this protocol, many platforms will be able to transition from layer-1 to layer-2.

Upcoming ICOs

Artyfact

NFTs have become an essential feature of blockchain technology and will become more vital if cryptocurrency starts to progress. Artyfact is one of those gaming protocols that have NFTs for digital ownership in its world. The goal of the ICO is to raise $3 million out of which $660,000 have been raised at the time of writing.

Cookie3

There will be an interest in blockchain examination sooner or later. Organizations, dealers, and financial backers would require this logical information to make decisions about how to continue with speculation or improvement. The complete number of tokens accessible for buying is 6,000,000,000, with every COOKIE worth $0.14. The ICO will start in June.

Soi Finance

This is an offer of a Dex within the Soi finance ecosystem. This is an IDO that shall help raise decentralized funds for projects on the Solana ecosystem. Currently, IDO values 1 SOI (the relevant utility token) for $0.005. The goal of the fundraiser is to raise $500,000. The sale shall start on 26th June.

Ended ICOs

WingStep

This is another one of those fitness-typed cryptos that give rewards for doing gym work. It did not manage to reach its required target of $750,000 and was only able to manage $400,000. The token sale ended on the eleventh of June.

Oceanland

This is a gaming token. Similar to the concept of Wingstep, this is a play-to-earn token. The sale of the token ended on 8th June 2022. The goal of the fundraiser was to raise about $1.7 million which it handily did. The token sale ended on 8th June.

Planet Mojo

Large production houses and publishers were behind the making of this blockchain metaverse game. It had a high aim of raising $8,000,000 which it managed to achieve. The protocol is built on the ERC 20 chain and 25% of the one million tokens were on sale.

As of writing, Bitcoin has seen a massive drop in prices over the past twenty-four hours, over 17% to almost 21.4K. This is mainly due to the raise in FED energy prices that is feared to affect mining as a whole. Ethereum has also followed suit with a drop of 16.76% over the past twenty-four hours.

Read the following to figure out about the current market and what you can do in this tumultuous market.

Highlights of the week

• In the past twenty-four hours, we have seen a massive drop in the price of Bitcoin (BTC). At the time when this article is being put down into words, BTC is being traded for $21.4K which is a drop of around 17%.
• Ethereum has also gone through a major devaluation with the fall of bitcoin with its value decreasing 16.76% over the past twenty-four hours. Currently, Ethereum has a value of $1234.56 at the time of writing.
• The BNB token has also sustained major losses with the value first fluctuating between $225 and $220 before falling to $200. A few more losses may affect the price of the coin more negatively and it is predicted to be around $190.
• BinanceUS sued for selling LUNA and UST
• Do Kwon deny accusations of withdrawing $2.7 billion from the Terra ecosystem before its collapse?
• Edward Snowden advised to use cryptocurrencies, but not to invest in them
• Jack Dorsey’s company introduced the concept of the Web5 web platform
• The crypto market is falling with the industry reaching a new low in recent years but Polka Dot has increased the development of its platform and its forthcoming ecosystem.
• Ukraine’s new fundraising platform is supporting more than a hundred cryptocurrencies.
• The Bank of Sweden called for a ban on bitcoin for the sake of ecology
• VanEck CEO Predicts Bitcoin Growth to $250,000
• Criminal cases that have crypto in their transactions have seen an increase at about 40%.

The week has been just fine for the crypto market. Following are the highlights:

• Bitcoin (BTC) has shown a decrease of only a fraction and we have seen the price touch the mark of $30.6k. The price has increased by only 0.67% in the past 24 hours.
• Ethereum (ETH) has also shown a similar movement and we have seen the price touch a level of $1.8k. Just like BTC, there hasn’t been any big movement in the price of ETH as well.
• The Bitcoin (BTC) mining, or the proportion of the fact that it is so difficult to go after mining rewards, increased 1.29% today to 30.28 T. This is the second-most elevated level of all time.
• Solana Ventures and Solana Foundation, the two organizations related to the blockchain project Solana (SOL), have set up a USD 100m speculation and award asset to send capital into South Korean Web3 new businesses.
• Investment Manager Valkyrie Investments reported that it has raised a sum of USD 11.15m.
• The Bank of Jamaica is planning to give a cross country cryptocurrency following a late endorsement from lawmakers
• Self-custody trading platform Edge launched Edge Mastercard, a crypto-supported virtual card that utilizes the Mastercard open-circle vendor organization to empower spending crypto assets at more than 10m shippers in the US.
• Fintech firm Circle declared help for their USD coin (USDC) on the Polygon (MATIC) blockchain stage, to be utilized on Circle’s payments and treasury stage.
• The US affirmed that they will add more choices to their recently launched staking highlight.
• Sports executives organization Dorna Sports declared that metaverse and NFT project Animoca Brands will be the title supporter of two MotoGP Grands Prix rivalries in 2022 and 2023.
• Most apecoin (APE) holders have cast a vote for a recommendation that the token stays on the Ethereum (ETH) blockchain in spite of its high exchange charges.
• A misstep by crypto market creator Wintermute has brought about the deficiency of 20m Optimism (OP) tokens right now worth USD 17m.
• The Ropsten test organization (testnet) – – likewise alluded to as Ethereum (ETH’s) first dress practice for the impending Merge, when the ongoing Ethereum Mainnet will converge with the guide chain proof-of-stake (PoS) framework – – effectively went through The Merge yesterday.

In order to get a better understanding of people’s sentiments, analytics have created a tool or an index that is called Crypto Greed and Fear Index. The main purpose of this index is to quantize the sentiments taken from Social Media, momentum, volume, and other different variables and rank them out of 100.

When the index is closer to 1, it means there is fear in the market. When the index is closer to 100, it means there is greed in the sentiments, and people are looking at higher-ups in the movement.

Currently, today, the Index is at 11 which shows that there is extreme fear in the market. Last month, the index was even lower when it was residing at 10/100. Since then the index has never gone higher than 20 and the maximum it went was around 17 which was yesterday.

This means that the people are fearful about the current market conditions and that they are afraid that they might lose their investments if they get in now.