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  • Crypto Gainers and Losers This Week

    Crypto Gainers and Losers This Week

    Following the sheer bloodbath that everyone saw throughout November, winners continue to become rare gems and are unable to defy expectations. Despite these seemingly insurmountable odds, several names in the crypto game have performed impressively, and have gained by a significant margin over the prior week. At the time of writing this newsletter, the following names stand as being top gainers for the week:

    Crypto winners and losers
    The ups and downs of Crypto

    Top Weekly Crypto-Gainers

    DinoLFG

    The DinoLFG (DINO) rise over the last week, has been one of the most significant in the cryptocurrency realm. During this period it saw a sustained price take-off pushing it from $0.0023 to the $0.0133 point, amounting to an almost 480% climb. This comes as the developing team has announced major ecosystem updates throughout the week, including the launch of the Dino Bank and Dino Game tokens. It must be noted, however, that volume on DINO dropped from almost $37 million to $8 million in merely two days.

    SONM BEP-20

    With a trading volume of over $1 billion, SONM BEP-20 (SNM) stands as the largest winner of the week, in terms of the sheer magnitude of how much it has been traded in the market. SNM has been seeing a surge in popularity following the FTX scandal, given its commitment to fog computing, which uses decentralized networking through disparate user devices across the globe. In the last seven days alone, SNM climbed from $0.17 to $1.13, and thus delivered a weekly gain of over 560%.

    SBF Goes To Prison

    SBF Goes To Prison (SBFP) is one of the most interesting names on the crypto-charts this week. The token is essentially a bet on whether or not Sam Bankman-Fried, the FTX founder will be imprisoned or not. If he does face prison charges, half the SBFP supply will be burned, whereas if this does not end up happening, the other half will be airdropped. Considering that the token made it from $0.19 to $0.82, in just seven days, the market as a whole is actively betting on imprisonment actualizing in the coming months.

    HashBit Blockchain

    The HashBit Blockchain (HBIT) more than tripled its price in the last week, in its climb from $0.000029 to $0.000099. Its trade volume during this time rose from $400,000 to over $4 million. HashBit too, like similar tokens, has been seeing a bullish upward drive, given its complete PoS concept, and the fact that it has been designed to be resistant against nothing-at-stake attacks.

    Marvin Inu

    Marvin Inu is currently the hottest meme-coin out there and has taken off today from $0.00000064 to $0.00000377, putting its weekly gains at 490%. This is a meme-coin based on Elon Musk’s dog, named Marvin, and hence has been seeing soaring popularity with Musk’s launch into the limelight following his controversial decisions after acquiring Twitter. Marvin Inu stands as one of the rare meme coins, which holds substantial utility, with a P2E game, a launch pad, NFTs, and a complete ecosystem.

    Top Weekly Crypto-Losers

    The crypto spaces unfortunately seem to be awash with losers, as confidence in the wider market continues to plummet each week. The FTX fiasco exposed a fundamental vulnerability across the industry, which cannot be rectified without radical regulatory changes. In the wake of this, the following stand as the week’s top losers:

    Safuu

    Safuu underwent a hard plummet yesterday, falling from $3.312 to $0.018, losing about 99% of its value in price. In a single week, its trade volume figure rose from $55,000 to over $4 million. This sudden price collapse came after the team pulled out of liquidation, without warning, and did not allow holders the opportunity for automatic migration. The lack of transparency and communication resulted in a severe loss of confidence, which subsequently led to a mass sell-off.

    VIDT Datalink

    VIDT Datalink underwent a hard drop in the last week, after an almost instantaneous plummet from $0.170 to $0.018, losing most of its price in a matter of hours. This had come about following market-wide panic, that had engulfed most names in the crypto-sphere. The recent days, however, saw a bullish rise of VIDT, as bulls believed the drop took it down below its intrinsic value. Volume has climbed to over $90 million, and the gains in the last 24 hours alone stand at 65%. Despite this, VIDT has shed around 80% of its price in the last week.

    MetaBeat

    The price trajectory for MetaBeat (BEAT) in the last week has been a consistent downward slump, which caused it to fall from $0.0915 to its present price of $0.0201. This translates to a loss of 78% in a seven-day period. Much to everyone’s surprise, the downward trend remained uninterrupted, even upon BEAT’s listing on KuCoin, and attempts at a social-media-driven price rally for the crypto name.

    ROOBEE

    ROOBEE has been steadily slipping throughout the last week until yesterday when it plummeted hard from $0.00066, down to $0.00034, losing almost half its price in just a day. This point was an all-time low for the crypto-asset, suggesting a severe lack of confidence among market participants. Throughout the week, this loss stood at over 60%.

    Hello ART

    Hello ART (HTT) also made it to this week’s list of top crypto-losers, after losing over three-quarters in price, over the last 7 days. The cryptocurrency seemingly has caught up in a wider wave of panic, storming through the market, as investors are rushing towards safer investment options with lower risk and volatility. HTT in particular dropped from $0.00851 down to $0.00196, amounting to a 75% drop.

  • Top Cryptocurrency Winners and Losers of the Week

    Top Cryptocurrency Winners and Losers of the Week

    Given that the cryptocurrency market has been showing signs of approaching stability, in a resilient manner, some of the wins it has seen in the prior week have truly been impressive. Traders that had placed strategic bets on crypto-assets with strong prospects and positive momentum had gained tremendously. At the time of the writing of this issue, the following cryptocurrencies stand as being the largest winners of the week:

    Top Weekly Crypto-Gainers

    World Cup Inu

    The most impressive growth trajectory of the week was seen in the rise of World Cup Inu (WCI) which took off without resistance from $0.0039 to as high as $0.0330 yesterday. This had translated to a price increase of a staggering 746%, taking the market as a whole by storm. In the hours that followed, however, WCI underwent a price correction that pushed its price down to $0.0232, leaving its weekly gains at over 490%. What is most remarkable is its daily trade volume, which is presently at $5.8 million. The hype surrounding this cryptocurrency seems to be linked to the football world cup in November, which is fast approaching.

    Hello Art

    Hello Art (HTT) remained inactive for most of the week at $0.0038, until just three days ago when it began an erratic rise to new heights. Its price trend shows volatile peaks and falls that had gradually been pushing it higher. Today it experienced a brief price explosion of over 600% to $0.028, which ultimately proved to be short-lived. In the minor crash following this correction, HTT is down to $0.014, putting its gains for the week at 260%, which, all considered, is highly impressive.

    Phala Network

    After peak interest surrounding its project, Phala Network (PHA) has been taking off high, more than tripling its price in the last week alone. In its rise from $0.081 to $0.271, the cryptocurrency has been seeing monstrous levels of trade volume, which surpassed the $1.25 billion mark on Sunday. Volume is now down to $500 million, but the hype surrounding Phala Network is as hot as ever. The gain in the last 24 hours alone stands at almost 50%.

    Onston

    Onston too has taken off extraordinarily during this week, jumping up from $0.012 to $0.049 in a single day earlier this week. This quadrupling in price was corrected after Onston began its slow descent which put it at $0.021 earlier today. This was not until a second price jump of 54%, that put the cryptocurrency up to its present price of $0.0366, translating to net weekly gains of 205%

    Mdex

    Mdex (MDX) too has been climbing high, supported by colossal trade volumes that have led to a pump in price by its supporters. In the first half of the week, MDX rose from $0.083 to $0.231, in a price climb of 178% in a matter of days. This epic pump culminated in a trading volume of almost $430 million. The following days saw a descent to $0.13, and a fightback up to its present price of $0.211. Amid these rises and falls, MDX stands at a price that is 154% higher than where it was 7 days ago.

    Top Weekly Crypto-Losers

    Although the crypto-verse did see a number of major wins in the past week, there has been a fair share of substantial losses too, where investors have seen their holdings plummet in price. At the time of the writing of this Stocks Telegraph issue, the following cryptocurrencies delivered the largest losses in the last 7-days:

    Paper DAO

    We start of the list of this week’s top losers with the youngest name out there, which is that of Paper DAO (PPR), which began trade as early as yesterday. Despite a volume rush of almost $4 million, PPR has experienced one of the hardest price plummets, which makes it among the week’s biggest losers. During its short time in circulation, it has fallen from $0.37 to $0.042, suggesting a value loss exceeding 88% in the red.

    Fidance

    Fidance (FDC) continues its downward spiral, in its third consecutive week of being a top loser, shedding an additional 81% of its price. In fact, in the last 30 days alone, FDC has seen its price drop from $0.0015 to its present low of $0.0000009. The cryptocurrency continues its endless slip, with present trade volume at over $1 million. Fidance shows all the signs of a heavily unfavorable asset in the market, that everyone is eager to get rid of.

    LOGOS

    After a gradually steady rise for most of the prior week, LOGOS (LOG) fell unexpectedly hard earlier today, from $3.23 to as low as $0.23. This shocking plummet effectively erased all the gains LOG achieved in the prior weeks, and puts its weekly loss at 86% at present. The $5 million trade volume for the day indicates that the drop is not spontaneous, and seems to be a part of a wider, collective dump.

    Probinex

    Probinex (PBX) also proved to be a shocker, after its nose-ward dive during the week, which has resulted in a substantial price loss. Those holding this cryptocurrency incurred a 90% unrealized price loss as PBX fell from $0.058 to its present price of $0.006. The price plummet seems to come after social media users began calling PBX a scam, after its delisting from the exchange, ProBit Global. Its volume too seems to be rapidly declining from above $2.2 million to below $1 million.

    Bitcoin E-Wallet

    Bitcoin E-Wallet (BITWALLET) features once again as a top loser of the week, after making it on last week’s issue too. This time, the cryptocurrency fell by an additional 60%, making it seem as being part of a relentless free fall. BITWALLET is proving to be a value burner for investors, after having fallen from $32 to merely $0.39 in the last 30 days alone. Volume too seems to be falling fast, from its $12 million mark earlier this week to its present level beneath $1 million.

  • Crypto Market Update — NFTs, All Time High Coins, and Ruling Fear

    Crypto Market Update — NFTs, All Time High Coins, and Ruling Fear

    The broader market is consumed by fear and the threat of a possible recession along with crypto volatility has investors grappling. In the face of multiple bad news — read another rate hike, deepening US-China tension, and the biggest crypto wallets hack — crypto market started the new month on a low note and continued crashing down. However, Nancy Pelosi’s (U.S. House of Representatives Speaker) visit to Taiwan created some buzz. Ultimately, investors showed some optimism with a more risk-on approach. But caution still prevails as the larger market situation hasn’t improved at all.

    Well, whatever the market situation is, there’s always some kind of development taking place. Continue reading this article to get a better picture of what’s going on in the market — ups and down along with cool takeaways.

    Crypto Market – Highlights of the Week

    • Bitcoin (BTC) is currently trading at a price of $22,872.54 with a loss of 1.92% in the past 24 hours after a short bear market rally. This accumulates to the past week’s decline of 0.10%.
    • Ethereum (ETH) on the other hand has plunged by 0.19% in the past 24 hours and is now priced at $1,622.88. The past week’s gains are at 0.52% for the queen. Given the problems with its upcoming merge and key derivatives, the $1,600 ETH support seems to lack strength.
    • Victorian police in Australia under the new bill will be entitled to greater power for seizing crypto assets from criminals. The new bill is also expected to have crypto exchanges hand over necessary information for assisting police in criminal investigations.
    • The much-expected Digital Commodities Consumer Protection Act bill was finally passed on Wednesday. The new bill includes BTC and ETH and confirms the growing consensus for CFTC regulation.
    • This week, the fourth largest hack in history took place draining nearly $200 million worth of crypto assets. The Nomad token bridge hack was reportedly due to a security vulnerability that Nomad ignored.
    • The recent hack of Solana-based wallets is deemed to be due to the Web3 wallet provider Slope. An investigation of the Solana ecosystem mayhem led to data pointing at Slope being responsible for the exploit.
    • Jeff Garzik, a Bitcoin pioneer announced the launch of NextCypher Productions, a Web3 production company. This company will tell stories from the intersection of Web3 and science fiction.

    Ruling Sentiment & Fear

    The global crypto market capitalization has continued plunging down with deteriorating economical and geopolitical conditions. Currently standing at $1.07 trillion with an increase of 1.63% in the past 24 hours, the global crypto market cap saw a brief fall to $1.00 trillion on Wednesday night. Atrocious hacking events in the market combined with the wider disarray have been responsible for fear in the market.

    Furthermore, the crypto fear & greed index has been quavering between extreme fear and fear only. The crypto fear & greed index combines various indicators of the overall crypto market sentiment into a single number — that is used to gauge the sentiment of the market. The smaller the number, the higher the fear, and vice versa.

    At the moment, the index stands at 30 with continued fear and a further decrease from yesterday’s value of 34. However, the fear sentiment is still better than last month’s prevalent extreme fear — with the figure reaching 19.

    Top Movers in the past 24 Hours

    Even at times when the market is bearish and the sentiment is down, there are still outliers making some upward streaks. Hence, even while the top cryptos like BTC and ETH are in the red, there are still some gainers that have defied the market sentiment. Let’s have a look at the top outliers in the past 24 hours:

    Buddy DAO (BDY)

    Aiming to be the first guarantor-based DeFi lending protocol, BDY is part of the mission to build a Decentral bank — to help anyone get a loan within seconds. Currently trading at a price of $0.044, it has shot up by a huge 236.59% in the past 24 hours. Its 24-hour trading volume also saw a nice uptick of nearly 185%.

    ZEON

    Claiming to be a decentralized platform for financial services, ZEON Network strives to offer instant access to cash without selling. Its wallet is an ETH and BTC wallet that is compatible with multiple software. Presently, ZEON is trading at $0.0115 and has added 144.58% in the past 24 hours.

    Saudi Shiba Inu (SAUDISHIB)

    As DeFi token on the Binance Smart Chain, this decentralized token has an NFT Platform as well as NFT collections to its name. It also has an auto-staking feature that serves well for its holders. In the past 24 hours, SAUDISHIB has gained a nice 132.59%, and its trading at a price of $0.00000000206 right now.

    ClinTex CTi (CTI)

    Another outlier in the past 24 hours has been CTI with gains of over 114.53%. The token is currently priced at $0.01393 and ranks 1279 on CoinMarketCap. Clinical Trails Intelligence (CTi) is a transformative blockchain platform designed for clinical trials — applying predictive analytics, machine learning, smart contracts, and blockchain tech.

    OnX Finance (ONX)

    And the final top gainer in our list is OnX Finance (ONX) — which surged up by 97.40% in the past 24 hours. The latest price of the token is $0.121. OnX is a DeFi Hub focused on building platforms and contracts — for swapping, lending, borrowing, yield farming, etc. It specializes in collateralized token products.

    All-Time High Coins

    While the market sentiment is anything but good, and the situation even further from better, some coins are still breaking high. Amidst the raging fear, there are a number of coins going for their all-time highs. Here are some of our top picks that just might end up presenting high-yield opportunities:

    Beau Cat (BUC) is a blockchain-based beauty platform that achieved its all-time high today at $120.02. The token is still hovering around the ATH with a gain of 0.44% in the past 24 hours. The platform provides information on beauty and related products based on user participation.

    Hop Protocol (HOP) is another token that hit its all-time high today. The ATH value of the HOP was $0.1935, however, it is currently down by 2.26% from its ATH at $1.1884. The 24-hour change in its value is positive 4.36%. Hop is a multichain bridge that connects Ethereum to Layer-2 networks — through which users can send tokens directly across networks in an instant.

    Hello Art (HTT), a metaverse for artists and fans also synced with the real world, also established a new all-time high today. It is currently down by 10.36% from its ATH of $0.03214, trading at $0.02888. Hello Art (HTT) makes sure to provide an experience that goes beyond the current limits of art.

    CyberDragon Gold (GOLD) recorded its all-time high a day ago on August 3, at $0.02796. However, its current price of $0.02726 has fallen down by 3.17% from the ATH. CyberDragon is a play-to-earn game based on Binance Smart Chain — where CyberDragon Golds are earned.

    Last but not the least, XX Network (XX) also registered a new ATH in the past 24 hours shortly after it plunged to a new all-time low. Currently trading at $0.3686, XX is down by 5.50% from its ATH of $0.3801. XX network brings together a native scalable, quantum-ready layer 1 blockchain with the most private communications network out there. Its coins are traded on the MEXC exchange.

    NFTs: Developments

    With the boom of cryptocurrency in recent years, non-fungible tokens (NFTs) also gained traction — due to their irrevocable ownership nature. Numerous developments are continuously taking place in these cryptographic blockchain-based tokens. Let’s have a look at the trending developments in the NFTs market in the past week:

    • LinkedIn founder Reid Hoffman launched a series of Solana-based NFT collections named “Untranslatable Words”. Created via DALL-E 2 AI software, the NFTs are being sold on Magic Eden — the largest Solana NFT marketplace.
    • To celebrate the 25th game anniversary of Final Fantasy VII, Square Enix has partnered with Enjin (software platform) to launch its first NFT project. Inspired by the video game, the NFT collection will be launched in 2023.
    • K-pop agency Fantagio and digital asset platform Crypto.com has entered into a joint NFT venture. The collaboration to pursue NFT projects was announced in an MOU on Wednesday.
    • TrufflezNFT — a combined project of cannabis company Trufflez and web3 enabler dropLabs — is to launch the first-ever NFT membership cannabis consumption lounge in New York.

    NFTs to Watch

    While the crypto market has become extremely volatile and prices are taking a hit from all directions, the NFT segment still remains the most profitable one. Although NFT collections have also seen a decrease in price due to the ongoing frenzy, it is only another opportunity to capitalize on. Here are some of the top NFT collections to look into:

    CryptoPunks

    Launched in 2017, CryptoPunks is one of the originals and the very firsts, and rightly so. The fixed set of 10,000 items regained some traction this week thanks to Tiffany’s launch. The iconic jewelry brand came out with an exclusive offer of handcrafted custom CryptoPunk pendants for 30 ETH ($50,000) each. The NFT collection saw a huge uplift of over 2,200% in its trading volume following the launch announcement. The price per item of the collection has surged by 537.25% in the past 24 hours.

    Rare Apepe YC

    Rare Apepe YC is one of a kind collection. It is essentially a derivative of two of the top NFT collections in the market – Bored Apes YC and Rare Pepes – hence why it should be on the list of every crypto investor. The collection consists of 10k items, with the price having climbed up by more than 70% during the past twenty-four hours.

    Mirage Gallery Curated

    Mirage Gallery Curated has completely exploded during the day with a whopping gain of 400,000%. This collection of 2.8k unique items has garnered staggering attention amongst NFT enthusiasts, making it one of our top collections for this week. Mirage Gallery’s popularity stems from its aim to take art beyond humanistic abilities through AI.

    Otherdeed for Otherside

    Otherdeed for Otherside is another one of the top collections for this week. This NFT is an essential part of the metaverse of Otherside, making its value pegged to the Otherside. Through the NFT, users can acquire land in Otherside. The collection has 100k items and should be added to your list if you plan on delving into the metaverse of the Otherside.

    Mutant Ape Yacht Club

    Mutant Ape Yacht Club is of course one of the originals and rightfully deserves the place on our weekly list. The collection has had a daily gain of 45% in its value. The current hype may be linked to the recent announcement of Gucci accepting Bored Ape Yacht Club’s cryptocurrency.