Another week, another newsletter. As the dust settles in the market after the crash, we begin to look for more opportunities in the crypto sphere. Our weekly newsletter will take you on a trip around the crypto market – exploring different asset classes and newer innovations.
Highlights of the week
Here are the top developments that happened around the market:
- At the time of press, Bitcoin (BTC) stands at $36,946 – 6.20% increase in the past day – while Ethereum (ETH) stands at $2,645 – with a 14.69% increase.
- Sentiment data reveals the social volume of Bitcoin has exceeded its record high of 2017-18 hinting towards increased interest in the cryptocurrency
- Metalla Royalta & Streaming CEO Brett Heath thinks that the next financial crisis will be caused by cryptocurrencies. According to the boss, cryptocurrencies have all the classic signs of a crisis and Bitcoin is overvalued.
- While the cryptocurrencies crashed, the NFT market was thriving. A report reveals a 300% increase in NFT sales from January to May
- The market correction has resulted in the lowest transaction fee since January for Bitcoin
- BitMEX and Human Rights Foundation has granted a total of $150,000 to Calvin Kim – a Bitcoin researcher – for working on scaling of Bitcoin
- Polygon (MATIC) is quickly becoming a favorite. The crypto debut of Indians now has the support of Mark Cuban
- DBS – a multinational bank in Singapore – has launched $11.3 million in blockchain bonds after launching a cryptocurrency exchange
- Chinese traders remain undeterred by the government’s efforts to eliminate cryptocurrencies from the country. Traders continue to use over-the-counter desks despite the ban
Top Weekly Gainers
As the cryptocurrency market regains, not all that glitters is gold. For your ease we have compiled a list of the top-performing cryptocurrencies in the past week. Here are they:
Telos (TLOS) has had a growth of 164% in the past week – the top-performer of the week. Telos established its all-time high on May 26th at $0.35. The price has declined ever since but the overall performance had been remarkable still. In the past twenty-four hours, the price of Telos began regaining again although the daily trading volume is declining.
MaidSafeCoin (MAID) has gone up by 82% in the past week – making it to our top performing list. At the time of writing, MaidSafeCoin stands at a price level of $0.70. After a great performance in the weekly timeframe, the cryptocurrency has started off on a downtrend in the daily timeframe. The price and the daily trading volume have been declining in the past twenty-four hours.
XYO coin has increased by 84%. The coin also established its all-time high at $0.014 in the past week. XYO has fallen nearly 50% from its ATH. At the time of writing, the cryptocurrency based on Ethereum’s blockchain stands at $0.0076 – increasing slightly in the daily timeframe.
yOUCash (YOUC) has had 60% gains in the weekly timeframe. The cryptocurrency had been increasing volatile in the recent timeframes but it did manage a good performance in the weekly window. At the time of press, YOUC stands at a price level of $0.062. In the past twenty-four hours, the price of the cryptocurrency has increased by nearly 5% while the daily trading volume has increased by 43%.
Origin Protocol (OGN) has increased by 57% in the past week as the cryptocurrency was on an upward trend. However, the upward move of Origin protocol had been hindered by bearish divergence as it began declining the twenty-four timeframe. The daily trading volume is also declining.
Top Weekly Losers
Some cryptocurrencies continue to suffer even as the market recovers. These are the cryptocurrencies that you need to steer clear of. Lagging bullish momentum despite an overall bullish divergence in the market may suggest problems with the fundamentals.
The top loser of the week includes Internet Computer (ICP) with a loss of 18%. At the time of writing, Internet Computer Protocol stands at a price level of $112. The price has increased by 6% in the past day while the daily trading volume has also been increasing. Dfinity Foundation, the non-profit organization behind ICP, had been under fire regarding the decentralization and privacy – or lack thereof – of the network. Dfinity Foundation has tried its best to quell the community with explanations but time will tell whether or not it worked.
Waves (WAVES) takes the place at the top losers’ list for the week with a weekly loss of 20%. The cryptocurrency has fallen from a high of $41. At the time of writing, Waves stand at a price level of $13. The cryptocurrency has been on a sharp downturn; however, the daily price action shows an upside move may occur soon. The price of the cryptocurrency has increased by 6% in the past twenty-four hours while the daily trading volume has gone up by 11%.
Revain (REV) is another worst performing cryptocurrency of the week. Revain has lost 20% of its value in the past week. The cryptocurrency could not even reach closer to its 2018 all-time high of nearly $4 in the bull run of 2021. The 52-week high was established at $0.05. At the time of writing, Revain stands at a price level of $0.013. The price has increased by nearly 9% since the past day and the daily trading volume is also increasing. Revain is a review platform for Ethereum-based tokens.
Shiba Inu (SHIB) has declined by 12% in the weekly timeframe – making it to our list. At the time of press, Shiba Inu stands at a price level of $0.000009. Although it is one of the worst performing cryptocurrencies, Shiba Inu may soon embark on an uptrend. The cryptocurrency’s price has increased by 20% in the past twenty-four hours while the daily trading volume has gone up by a whopping 145%.
Ethereum Classic (ETC) – Ethereum’s hard fork – is the last bad performing cryptocurrency on our list. Ethereum Classic has declined by 11%. ETC had peaked at $176 in the 2021 bull run. After falling to a low $40, the cryptocurrency is trading hands at $68 – at the time of writing. The cryptocurrency had been oscillating up and down ever since the low after the bull run. Ethereum Classic’s price has increased by 8% in the past day while the trading volume has declined.
All-time High Coins
Cryptocurrencies are, once again, under bullish momentum as the market recovers – some more than others. The bullish divergence had been so strong for some cryptocurrencies that new all-time highs have been achieved already – days after a brutal crash.
Simba Storage Network (SST) established its all-time high three days ago at $2.86. The cryptocurrency has fallen 12% from the all-time high price. SST currently trades at a price level of $2.52. The price has been showing upward pressure. Simba Storage network’s price has increased by nearly 60% in the past twenty-four hours and the daily trading volume is also on the rise.
Tenset (10SET) is another ATH coin with a record high established at $6.68 two days ago. At the time of press, Tenset stands at a price of $4.67 – having fallen 30% since the ATH. The price has been oscillating downwards since the new high was recorded. In the daily timeframe, the price of Tenset has been on a decline while the daily trading volume is moving upwards.
Roseon Finance (ROSN) established its all-time high at $0.42 a few hours ago. However, the price has drastically fell since the ATH. On a sharp decline, Roseon Finance’s price level stands at $0.26 – at the time of writing. The daily trading volume has jumped up 550%. Roseon Finance acts as a bridge between CeFi and DeFi.
Ternoa (CAPS) is another all-time high coin with a record high established at $0.06099 a few hours ago. The price has begun its downtrend since the ATH. At the time of writing, Ternoa stands at a price level of $0.06094. Ternoa blockchain is designed to preserve and store data in the most efficient and secure way possible.
Hot ICOs to Watch Out For
If you don’t want to wait for upcoming ICOs, we have also compiled a list of the projects that are currently going on.
NiiFi is one of a kind of solution designed to build solutions for the blockchain. The aim of the project is to make the blockchain technology useable and easily adaptable. The fundraising goal of the project is to raise $200,000 through the sale of 4,444,445 tokens each priced at $0.045.
Fanadise is an exclusive platform designed for social media influencers to monetize their social media presence. The token sale is currently active and the project has raised $800,000 out of the total goal of $1,130,000. The FAN token is priced at $0.075.
Lossless is a hack identification platform which allows users to freeze and retrieve fraudulent transactions. The token sale is to end in ten hours – from the time of press. The project has raised $2,250,000 out of the total goal of $2,700,000. The token is priced at $0.077.
StarFi is a blockchain service based on Web3 for NFT creators. StarFi will provide a multi-channel network for NFT creators. The token sale is active and the project has raised $1,400,000 up till now.
BitBook Travel is a travel platform on the blockchain which will enable users to book accommodations and earn tokens through the process. The token sale will end in three days and the project has raised $610,000.
NFTb is a NFT marketplace with advanced features. The project is being launched by Binance Smart Chain and will soon expand to multi-chain support. The project has many other upgrades planned for the marketplace. The ICO price of a token is $0.006 and the ICO will start on June 2nd.
Mozik (MOZ) is another great project to look into. The ICO goal is to raise $100,000 through the sale of 5,000,000 with each token priced at $0.02. Mozik is a decentralized music NFT network. The platform will connect artists and fans.
FarSwap’s ICO will begin on June 16th. The aim of the project is to raise $5,000,000 through the sale of 5,000,000 tokens at $1 each. FarSwap is a NFT farm staking exchange and lottery platform. The platform will be running on Ethereum and will have massive rewards to incentivize cooperation between users.
Moonriver (MOVR) is a smart contract platform built on Kusama. Moonriver is a companion network to Moonbeam and it aims to provide compatibility with Ethereum toolchain and network. The ICO will have 6,000,000 MOVR tokens for sale. The price of the tokens is yet to be decided.
Fenix Finance (FENIX) is an automated market maker and a yield farming decentralized app which is based on Binance Smart Chain. The ICO of the project will begin on June 4th. The goal of the project is to raise $900,000 through the sale of 15,000,000 tokens at a price of $0.06.
These are some of the good projects that have ended:
- DeFiCity is a blockchain service which gamifies DeFi yield farming as well as makes it much easier.
- Charged Particles – the network allows users to deposit ERC-20 tokens into NFTs
- Saito is an open network layer for Web 3.0. The project raised $2,400,000.
- The Dapp List is designed to facilitate the adoption of blockchain technology. The project raised $1,700,000
- Virtue Poker is a decentralized poker platform. The project raised $5,000,000
Get your hands on some of the hottest airdrops currently going on
HARD Trading Competition
- Create an account on Binance
- New users who join during the activity period and complete trade of 600 HARD in qualified pairs will qualify to share a pool of $5,000 HARD tokens.
- The top twenty users on the basis of trading volume will be selected to share a pool of $20,000 HARD tokens
- Lucky users ranked 33rd, 66th, 133rd, 166th and so on, on the basis of trading volume will each receive $500
Binance Pool Giveaway
- Create an account on Binance
- Complete KYC verification
- Contribute a daily average hashrate of no less than 100 TH/s for BTC and no less than 500 MH/s for ETH to share a pool of 50,000 BUSD
- Create an account on Binance
- New users who join during the activity period with a minimum trading volume of 700 MDA in MDA/BTC trading pair will be qualified to receive $15 cash voucher
- Users with a trading volume more than 3,300 MDA will be ranked on the basis of their trading volume and qualified to win up to $15,000 in MDA
- SherpaX will conduct an airdrop of KSX to PCX holders – so hold PCX in a private wallet in you don’t already
- The snapshot of PCX holders will be taken will SherpaX is forked from ChainX
- A total of 10,500,000 KSX will be airdropped to eligible PCX holders
- The airdrop ratio is expected to be 1:1 before PCX halving and 1:0.9 after PCX halving
- The distribution will happen sometime in June 2021
- Visit the DoRen airdrop form
- Join the Telegram channel
- Follow on socials like Twitter, Facebook and Medium
- Download the DoRen app
- Submit your DRE wallet details
- Get $5 worth of DRE token