The cryptocurrency market is struggling ever since the crypto market crash, the king and queen of the market cannot find support while regulators are getting harsher. Where investors are wary of cryptocurrencies, Ethereum-based gaming tokens have emerged to compensate for the losses incurred in the market. The market is a rollercoaster ride but worry not, we are here to help you navigate!
Highlights of the week
Here are the top developments that happened around the market:
- While Bitcoin is struggling with maintaining price above $33k, signs of accumulation can be seen. The network’s hashrate has begun increasing as well as have the outflows in July
- The weekly crypto investment product volume has dropped to its lowest levels since October 2020. This indicates fear in the market – especially from institutional investors
- Binance is under fire from regulators throughout the world. Regulators from US, UK, Canada, Japan, Thailand and Cayman Islands have issued warnings and some have even launched criminal complaints against the exchange
- Binance’s regulatory issues have opened up opportunities for other exchanges. Gemini – the regulated crypto exchange – has expressed its plans of overtaking Binance, the largest crypto exchange by volume
- Australia has been an ardent believer in the blockchain technology. The government has issued grants worth $4 million to blockchain startups for exploring the technology’s potential in mineral and food & beverage industry
- Elon Musk – the dogefather – continues promoting the cryptocurrency. Musk has disregarded the scaling efforts of Ethereum and Bitcoin and plans to make Dogecoin superior to the market leaders. Musk’s plans have also resulted in a price spike of Dogecoin
- The European Union is discussing strict regulations for the crypto space. It has proposed the creation of a new anti-money laundering body targeting the cryptocurrency space
Top Weekly Gainers
The past week had been more than kind to some cryptocurrencies. The price rally of the past week had been led by gaming platforms like Axie Infinity, Sandbox and related tokens but other cryptocurrencies also did not shy away from the bulls. Here is the list of the top five performers of the week:
Axie Infinity (AXS) bags the first position on our list with a phenomenal performance. The cryptocurrency has gained by 122% in the past seven days. At the time of writing, Axie Infinity stands at a price level of $19.68. The price has increased by 9% in the past twenty-four hours while the trading volume has dropped slightly. The Ethereum-based NFT game has been surging as of late with various celebrity figures like Mark Cuban also jumping up on the bandwagon.
Flow (FLOW) is the second-best performing cryptocurrency in the weekly timeframe. The cryptocurrency has grown by 60% in the past seven days. Flow has been trending downwards since the bull run but the recent price movements show that the trend has been reversed. At the time of writing, Flow coin stands at a price level of $17.53. The price has begun declining. In the recent timeframes. In the past twenty-four hours, Flow declined by 5% while the trading volume went down by 40%.
KuCoin Token (KCS) had been on a sharp uptrend. The cryptocurrency has increased by 44% in the past seven days. The cryptocurrency stands at a price level of $12.59 at the time of writing. In the past twenty-four hours, the price of KuCoin Token has declined by 12% while the trading volume has increased by 35%.
The Sandbox (SAND) has gained by 43% in the past seven days. The cryptocurrency stands at a price level of $0.43 at the time of writing. The bullish momentum of the cryptocurrency may have ended as the price has declined by 5% in the past twenty-four hours while the trading volume is also declining. Sandbox is a virtual world based on the blockchain where users can create and trade digital assets in a game.
Last but not the least, Stacks (STX) has increased by 41% in the past seven days. The bulls have started losing strength for Stacks as the cryptocurrency have begun declining. At the time of writing, Stacks stands at a price level of $1.18. The price of the cryptocurrency has declined by 9% in the past twenty-four hours while the trading volume went down by 30%.
Top Weekly Losers
The crypto space is not all sunshines and rainbows. In fact, it is notoriously known for its brutal crashes. However, it is nothing to be scared of as everything is an opportunity here. We have compiled a list of the top losers in the weekly timeframe which you can go short on.
The top loser of the week is INO Coin (INO). INO Coin has dropped by 36% as the market was overtaken by corrections after a period of bull dominance. At the time of press, INO Coin stands at a price level of $4.69. The cryptocurrency started off on a minor upside move but failed to sustain it. Both the price and the trading volume of the cryptocurrency has declined by nearly 3% in the past twenty-four hours.
Mobilian Coin (MBN) has been giving subpar performance since its launch in 2020. The cryptocurrency suffered from major bearish pressures in the past week as it declined by 35%. At the time of writing, Mobilian Coin stands at a price level of $0.44. The price has declined by 7% in the past twenty-four hours while the trading volume has dropped by 6%. The Mobilian blockchain is focused on the promotion of autonomous vehicle innovations.
Casper (CSPR) crypto has been a disappointment ever since its launch on the mainnet in May 2021. The cryptocurrency has been on a downward trend since its launch. In the past seven days alone, Casper declined by 33%. At the time of writing, Casper stands at a price level of $0.08. The price has declined by 8% in the past twenty-four hours while the trading volume has gone down by 15%. Casper is the first live proof-of-stake blockchain aimed at the adoption of smart contracts technology.
Telcoin (TEL) has been declining fast since the beginning of May. A downward trajectory has been confirmed for the cryptocurrency with highly oscillating price movements. In the past week, Telcoin has declined by 29%. At the time of publication, the cryptocurrency stands at a price level of $0.017. The price has declined by 10% while the trading volume has gone down by 20%.
The final loser of the week is Ecomi (OMI). Ecomi had been trending downwards since March; however, the cryptocurrency saw some bullish momentum recently but the bears dominated the market once again. Ecomi declined by 24% as the bulls weakened and the cryptocurrency moved down. At the time of press, Ecomi stands at a price level of $0.0033. The price has declined by 9% in the past twenty-four hours while the trading volume has dropped by 13%.
All-time High Coins
New cryptocurrencies climb to new heights in the market every day. While established cryptocurrencies are a safer bet, new cryptocurrencies give a higher potential of return with its high risk. Here are some of the cryptocurrencies that have established new ATH in the past week:
RealFevr (FEVR) established its all-time high at $0.014 two days ago. The price has fallen by nearly 40% from the ATH. At the time of press, RealFevr stands at a price level of $0.0085. The price action of the cryptocurrency is indecisive and a trend has yet to be formed, although the price is declining. RealFevr went down by 11% in the past twenty-four hours while the trading volume has dropped by 70%.
OpenOcean (OOE) stands at a price level of $0.33. The cryptocurrency established its all-time high at $0.55 in the past twenty-four hours. The current price has declined by nearly 40% from the ATH while the downtrend appears to continue. OpenOcean and DeFi and CeFi aggregator which employs a sophisticated routing algorithm for the best results.
TitanSwap (TITAN) is another cryptocurrency that established a new all-time high in the past week. TitanSwap’s new all-time high stands at $9.60 and was established three days ago. At the time of press, the cryptocurrency stands at $8.27 – down by 13% from the ATH price. The price has been becoming increasingly volatile towards the downside. The price has fallen by 8% in the past twenty-four hours while the trading volume has decreased by 5%.
FaraLand (FARA) coin stands at a price level of $0.81 with a new ATH price of $1.00. The cryptocurrency could not sustain its price above the $1 mark as the bearish momentum overtook the market. The price has been declining in the daily timeframe while the trading volume is increasing. FaraLand is a NFT game based on the blockchain where users can earn digital assets by playing.
The final ATH coin of the week is Nominex (NMX). Nominex established a new all-time high at $7.44. The current price is down by 20% from the ATH at $6.00. In the daily timeframe, the price and the trading volume of the cryptocurrency are falling. Nominex has been created by the Nominex exchange and it has a unique farming model. The DeFi token is the first utility staking token to be launched by a centralized exchange.
Hot ICOs to Watch Out For
High risk, high return – is that something which appeals you in the crypto space? If yes, then you are at the right place because ICOs take high risk and return to the next level. Here is a compilation of some of the good ongoing ICO projects:
Bitfrost is a decentralized finance project aimed at proof-of-stake tokens. It enables users to get vToken which can be used for liquidity and staking. The ICO is active although it has completed its fundraising goal of $600,000. Each BNC token is priced at $10.6.
Altair is a blockchain service which is aimed at increasing the interoperability of the Kusama blockchain. Altair is primarily a bridge between Kusama and Centrifuge. Each AIR token is priced at $0.53. The token sale has been active since 30 June while the closing date has yet to be announced.
Kommunitas is another good project to look into for ICO investing. Kommunitas is a blockchain solution for multi-chain projects. It is a fundraising platform for blockchain projects. The total tokens up for sale are 5,000,000. Each KOM token is priced at $0.003.
Another great ICO project is Locklet (LKT). Locklet is the first vesting platform based on the blockchain. Through the platforms, crypto-holders can create and execute vesting clauses efficiently in a decentralized manner. The ICO of the project will end on 14th July with 50,000,000 LKT tokens up for sale and a fundraising goal of $480,000.
Lastly, MyCryptoCheckout is a crypto payment system for WordPress and WooCommerce. The token sale is active till July 22nd. The project has set up a fundraising goal of $750,000 – out of which $240,000 has been collected so far.
Investing in ICOs is a tricky business and going closed eyes into the space might not be a good idea. So, we have also compiled a list of some of the hot upcoming ICO projects with which you can take your sweet time in researching.
Creator Platform is a good project to research into for ICO investment. The platform is a blockchain-as-a-service for entrepreneurs to help them build apps on the blockchain. The ICO will commence on August 5th with 4,000,000 CTR tokens up for sale each at an ICO price of $0.10.
Yield Guild Games (YGG) is a decentralized autonomous organization (DAO) focused on investment in non-fungible tokens of the virtual space. The ICO of the project will begin on July 27 and last till July 29, 2021. Further details of the ICO are to be announced soon.
Polytrade is a decentralized platform aimed at transforming the receivable financing with the blockchain technology. The token sale will commence in July with further details to be announced soon. In the meantime, researching on the platform can be a good idea.
Glimpse is a unique marketplace based on the blockchain. Users can upload content on the platform – in the form of videos – and can be sold over the platform as NFTs. The ICO of the project will begin on July 16th. The project has set up its fundraising goal at $1,300,000.
Spores Network is a multi-chain inclusive NFT marketplace. Spores Network is targeting the creatives industry in fields like gaming, entertainment, fashion, art etc. The project’s ICO will begin in July with further details to be announced.
Some of the ICO projects that have ended and are performing well in the market are:
- RealFevr is an NFT ecosystem focusing o football. The project was able to collect $2,390,000 through its ICO
- DeversiFi enables users to swap, send and trade tokens without the headache of gas fees. The project completed its fundraising goal of $7,000,000
- Infinity Pad is a launchpad based on Binance Smart Chain. The ICO raised $700,000 and ended on July 11.
- OpenOcean is a crypto asset trading platform which ensures the best prices for traders. The token sale collected $3,370,000
- Decubate is an investment and fundraising platform based on the blockchain. The token sale ended on July 9th and raised $350,000
Want to get your hands on some free cryptocurrencies? Here are some of the top airdrop currently going on:
P2P Trading Competition
- Create an account on Binance
- New users who join during the activity period and buy crypto worth at least $100 will share a pool of 10,000 BUSD
- The top twenty users ranked in terms of unique users they trade with will each get up to 2,500 BUSD
Binance NFT Marketplace Launch
- Create an account on Binance
- New users who create an account and purchase an NFT during the activity period will get a limited edition NFT from Binance
- New users or existing users who buy an NFT from the Divine Comedy collection will share a pool of $200,000 in TUSD
- Visit the ProjectX airdrop page
- Enter your details and sign up
- Complete social tasks to win entries
- Each user can win up to 17 entries
- Additional entries can be won through referrals
- Three participants will be selected at random to win an NFT and $1000 worth of DXNF
- Visit the Morpher airdrop page
- Click on “Claim your crypto”
- Create a Fortmatic wallet through Metamask
- Complete email verification
- Complete “KYC” verification
- Claim 100 MPH
- Download the SwissBorg application
- Create an account and enter the code “WUUY4TQ” to receive 3,000 points
- Play and predict
- Earn a share of up to $500,000 in Bitcoin
- Collect badges and earn up to 250 CHSB tokens