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Tag: FTX Token

  • Crypto Winners and Losers This Week

    Crypto Winners and Losers This Week

    With the market presently in one of its most serious lows, bulls appear to be taking cover for a while, with no indication of which cryptocurrency to rally towards. Despite these bleak circumstances, however, a number of names in the crypto-sphere did perform spectacularly, gaining significantly over the prior week. At the time of the writing of this newsletter, these were as follows:

    Top Weekly Gainers

    Trust Wallet Token

    The Trust Wallet Token (TWT) has been the most significant among the winners of the week. Despite grave pessimism, TWT successfully took on a climb from $1.11 to a present high of $2.64, thus translating to a gain of 138% in merely a 7-day period. This bullish run coincides with statements by the CEO of Binance, who heavily supported a push towards self-custody in the world of crypto. Trade volume on TWT yesterday surpassed the $700 million mark.

    SocialGood

    SocialGood (SG) was another top performer this week, which saw a 400% price explosion on Friday, coinciding with the SG ecosystem launching membership for its app. At the height of this bullish frenzy, SG climbed from $0.043 to a peak of $0.137. In the days that followed, however, it has somewhat stabilized close to the $0.094 mark, putting its weekly gains at almost 120%. Trade volume has also dropped from $2.5 million to $1.2 million.

    SafePal

    The greater part of the last week had been unimpressive for SafePal (SFP), as it gradually slipped from $0.39 to below $0.30. On Sunday, however, an epic gear shift was seen which saw SFP take off at a mighty pace to the $0.75 mark, over three days. SafePal is seeing a surge in interest following the FTX fiasco, and heightened skepticism towards exchanges by crypto-market participants. As the first hardware crypto-wallet backed and funded by Binance, many are turning to hold this digital asset. Net weekly gains stand at over 92%.

    dYdX

    dYdX has been undertaking an impressive climb throughout the prior week, pushing upward against the bearish storm of uncertainty. Its 7-day climb from $1.22 to $2.69 translates to a weekly gain of over 120%. Trade volume during this time frame steadily rose from $100 million to almost $450 million. dYdX has been widely pushed by the market, given its vision of a decentralized and non-custodial exchange, eliminating the factor of trust within such systems. The rally is a part of a wider sentiment shift observed within the market.

    DFI.Money

    The price curve for DFI.Money (YFII), over the prior week, has been remarkable in its climb. In only seven days, YFII went from a low of $1370 to its present high of $2159, denoting a 57.6% price surge. YFII is another crypto-name seeing a rally in the wake of the FTX controversy, with substantial backing from the market, on account DeFi aggregator platform. It must be noted, however, that trade volume over the week has dropped from almost $160 million to its present level of $41 million.

    Top Weekly Losers

    The crypto market was rocked to its core in the last week and undertook a hard plunge after months of stability. For this reason, it comes as no surprise that the losers this week, far outweigh the winners, in terms of both quantity and magnitude of loss. At the time of writing this issue, the top crypto-losers of the week are as follows:

    FTX Token

    The FTX Token (FTT) undoubtedly tops the list of the week’s losers, as would be unsurprising from the token responsible for the crash of the wider crypto space. In its weekly descent from barely $18, the token has shed most of its value and is presently trading at the $1.32 mark. This price fall equates to a loss of 93%. Considering that trade volume has dropped over the week from $3.5 billion to $78 million, it seems the initial wave of panicked bears has had their play with FTT.

    Saltmarble

    Saltmarble (SML) was another name among the crypto-losers of the week, after having shed 92% of its market capitalization within a seven-day window. The cryptocurrency, which has been circulating the market since July has had its roughest week so far, plunging deeply to new all-time lows, with each passing hour. For the first time since its existence, SML dropped below the $1 mark and continues in that direction. It is presently trading at $0.65 from over $10 last week.

    Metanept

    Metanept (NEPT) was one of the names from the crypto-market fall, after its plunge from $0.0613 to its present price of $0.0088. This 86% drop in the last week follows through after an extremely bearish month, where NEPT has been persistently dropping low. This wider price trajectory seems to link to panic among market participants as to a potential NEPT delisting.

    VIDT DAO

    After weeks of a successful climb which saw a climb from $0.260 to a peak of $0.770, VIDT DAO, in the last week has shifted to reverse gear, and has fallen to $0.019. The 65% fall in the last week has reversed all the gains VIDT undertook since June, and has put it in a precarious position. The DAO token faces widespread unpopularity, considering its verifiable trust concept in Web3. According to the market at large, this concept is neither reliable nor sustainable, in the wake of the recent FTX fiasco.

    Serum

    Serum (SRM) has been falling hard, amidst increasing concerns in the markets toward a possible insolvency declaration. SRM fell from $0.73 to a low of $0.27, in a seven-day period, losing 63% of its price during this time. These losses would have been even more severe, were it not for the bullish rally of the last 24 hours, pushing up its price by 34%. Trade volume has been rising throughout the week, and presently exceeds the $240 million point.

  • Crypto Winners and Losers of the Week

    Crypto Winners and Losers of the Week

    Owing to the newfound macroeconomic stability that is beginning to make the rounds in the markets, stocks are not the only class of securities that have been on a rise. Crypto assets too have taken off considerably, especially in the last week. The most significant among these winners are as follows:

    Top Weekly Gainers

    DeFi Forge

    DeFi Forge (FORGE) was launched into the crypto market last week following a successful ICO. The market evidently was evidently impressed by the project, resulting in an upward price rally taking FORGE up from $0.036 to $0.395, in a matter of days. Following this high peak, which translated to almost 1000%, the cryptocurrency began a corrective descent in its volatile trajectory. At present, FORGE stands at $0.215, making its net gains for the week a remarkable 464%.

    Janus Network

    Another top performer this week was Janus Network (JNS), which took on a climb on Friday, and exploded in price by Saturday. The cryptocurrency started off the week at a price of $0.045, and after its massive upward surge, stood at the $0.46 mark by Sunday. Interest in JNS is reflected in its trade volume figures, which jumped from $12,000 to almost $900,000 in a matter of days. This came about following a series of back-to-back project updates, which have instilled confidence among supporters of the Janus Network. By the end of the week, JNS gains translate to a whopping 760% rise.

    8PAY

    In a somewhat anticlimactic weekly price curve, 8PAY also comes in as a winner of the week, after managing to almost quadruple its price from $0.0072 to $0.0281. This translates to a strong weekly gain of 294%. However, on Saturday, the cryptocurrency peaked at a high point of $0.0689, when its volume climbed beyond the $2 million mark. At that point, the gains were an incredible 855%. Despite the subsequent correction, 8PAY holders have won big this week.

    Square Token

    Square Token (SQUA) has entered its second week of a momentous climb, following widespread favor among crypto holders in the Latin American world. The last week saw a sustained climb that took SQUA up from $40.30 to $109.62, translating to a 172% rise. Volume on SQUA presently holds at over $17 million, suggesting its climb is far from over.

    MASQ

    After a slow rise from $0.064, MASQ saw a price surge on Sunday, which was the beta test day for the project, resulting in a peak price of $0.278. During this peak point, MASQ had risen by over 333%, which led to further hype from crypto-market participants. At one point, trade volume exceeded $5 million. In the following days, however, the bears got the better of MASQ’s movement, bringing in a decline in price, and putting its net weekly gains at 206%.

    Top Weekly Losers

    Where some crypto names in the market rose by considerable degrees during the week, others have seen sharp movements in the other direction. Several cryptocurrencies had taken on a large fall, bringing significant losses to their holders. At the time of writing this Stocks Telegraph article, the following names are the top losers of the week:

    Solana

    Solana (SOL), after an uncertain week, began a hard plunge today, as its trade volume reached a six-month high at $3.4 billion. There was an evident battle between the bears and the bulls, with regard to Solana, with the bears eventually gaining the ground, resulting in a dip from $38 to $25, and translating to a 35% fall. The negative sentiment surged after reports suggesting Alameda Research holding liabilities worth $8 billion, and poor liquidity.

    FTX Token

    FTX token has been undertaking a steady downward slip this week, and then went on a free-falling price plummet as its trade volume made it from $100 million to over $1 billion. Over the course of the week, FTX fell from a high of $26.33 to a low of $15.33, indicating a price drop of 42%. This widespread pessimism seems to trace back to the potential Alameda contagion, whose balance sheet holds large volumes of both SOL and FTX. The market expects heavy selling to take place imminently, hence the mass sell-offs.

    Art Gobblers Goo

    Art Gobblers Goo (GOO) has been falling big time throughout the week. As the NFT by the creators of the TV show, Rick and Morty, GOO made the news last week, after a highly successful launch. However, as controversy regarding ‘allow list’ mechanisms and procedures surfaced, the market has been losing confidence fast. In just seven days, GOO dropped from a high of $1518 to less than $18. The price loss on GOO, in the crypto-market presently stands at almost 99%.

    Optimus OPT3

    Optimus OPT3 (OPT3) also made it on this week’s list of top losers, given its hard descent from $1.61 to $0.32. The cryptocurrency’s loss over the week amounts to a stinging 80%. Volume in the last 24 hours has jumped 56% to over $12 million. Sentiment across social media toward OPT3 remains highly negative, with many questioning its utility.

    Amateras

    Amateras (AMT) has seen a bumpy ride this week, with constant gear shifts in both directions. AMT started off the week at $0.0089, and after the sudden booms and busts is now down to $0.0035, translating to a 61% drop. Its volume has been largely stable above $1.5 million throughout the week. Based on its irregular price curve seen in the week, many are suggesting that AMT has all the markings of an attempted rug-pulling.

  • FTX Token (FTT) – What is the Chart Showing Us?

    FTX Token (FTT) – What is the Chart Showing Us?

    At the time of writing, FTT is being traded at the rate of $39.47 with a decrease of almost 2.45% within the last 24 hours.

    The low within this tenure was around $38.23 and the high was approximately $40.89. The coin as being in the watchlist of many traders makes it rank all the way up to number 30th according to the latest data released by coin market cap.

    FTT made its all-time high in the month of September 2021 where it reached an enormous amount of $89.74. At the moment it has a daily volume of $154,512,677 with an increase of only 1.36% within the last 24 hours. The circulating supply of FTT is now around 139M and the maximum supply is 352M. FTT has a dominance of 0.11%.

    The top exchanges for trading FTT are currently FTX, Binance, ByBit.

    Technical Analysis – FTX Token

    Starting from the monthly, the price is showing some sort of double top pattern. Now seeing this pattern majority will try to short this pair, so institutions would try to manipulate and grab the liquidity which gives a bullish bias on the monthly time frame. Shifting down to the weekly time frame, it can be observed that price has broken structure to the downside which gives a new low. After a new low, we anticipate a new high as well. So just following the anticipation, a new high can be anticipated. Now besides this, a bullish breaker can be observed as well, from where the price can show a reversal, and that aligns with our anticipation. The weekly time frame also gives a bullish bias

    FTT -1D

    Moving to the daily time frame. the price was actually getting rejected from the support zone. This produced a lot of liquidity below that zone. Price did a fake-out and is tapping in the zone, so it’s very likely that price has grabbed liquidity. Now it has all the fuel which is needed, so a bullish move can be expected.

    Price Prediction – FTX Token (FTT)

    Even though FTT has been one of the fast gainers and has been able to break out successfully. In the long run, traders are highly bullish on the project. The price is currently at the same level where it was in July and has completely retraced back. But according to the wallet investor, FTT isn’t a good investment. The price of FTT is to reach a value of $121.722 in a year.

  • 5 Cryptocurrencies With New All-Time Highs – (Binance Coin, Tezos, FTX Token, Decred, Ethereum)

    5 Cryptocurrencies With New All-Time Highs – (Binance Coin, Tezos, FTX Token, Decred, Ethereum)

    The cryptocurrency bull run appears to continue with new cryptocurrencies making all-time highs every day. We have compiled a list of cryptocurrencies that have achieved a new all-time high.

    The queen of the market, Ethereum (ETH), has established a new all-time at $2,174. Ethereum had been flirting close to its previous all-time high. At the time of press, Ethereum stands at $2,128. Generally, the queen follows the king of the market closely but breaking the norm, it went higher than expectations by establishing the new record high. The performance of the coin can be attributed to the upcoming ETH2.0 upgrade which will tackle the scalability problem Ethereum is facing along with many other improvements.

    Binance Coin (BNB) has been one of the best performing cryptocurrencies. In the yearly timeframe, Binance Coin has had an 1800% increase in its performance. BNB went up from an average coin to the third ranked in the market. The coin suffered from retracements after establishing its all-time high at around $300 but the bulls have once again picked up and a new all-time high at $388 has been established.

    Tezos (XTZ) established a new all-time high at $6.47 at the time of press. The trading volume of $1,468,277,032 has went up by around 300%. The smart contracts platform which bears resemblance to Ethereum has a market ranking of 29. The coin is still on an uptrend and a continuation with newer all-time highs can be expected. The performance of the coin can be attributed to the major developments going on in the Tezos platform. Blockchain venture studio, Draper GolenHolm, has announced its support for the Tezos ecosystem. The firm has plans of incubating and accelerating startups based on the Tezos network. Furthermore, lugh.io – a French firm – has also launched a stablecoin on the Tezos block chain.

    FTX Token (FTT) has been on an upward trajectory since the beginning of the new year with only minor pullbacks. After every pullback, the coin has established a newer all-time high as it did currently. FTX Token is now operating at a new all-time high price level of $44.84. FTT is the governance token of the cryptocurrency derivatives platform FTX.

    Last but not the least, Decred (DCR) has also established a new all-time high at $194 and the cryptocurrency has stabilized near the all-time high price level. Decred is a block chain based cryptocurrency with the aim to facilitate governance, sustainability and community interaction. The coin is ranked at 50 in terms of market capitalization with a daily trading volume of $31,199,204.