Another week, another newsletter. The market has settled after a bullish week which was seen in the wake of prolonged bearish momentum. Although the bulls have died down, the market has not yet turned strongly bearish. Here is a quick recap of the week:
Highlights of the week
Top developments that you should know of:
- A $550 million infrastructure bill that is expected to pass poses danger to cryptocurrencies. The bill describes “broker” as any firm even fleetingly touching cryptocurrencies and taxing them heavily.
- Virginia Congressman Don Beyer has introduced a bill to update the outdated regulations regarding the crypto space. The bill is aimed at providing more clarity in roles of the regulators.
- As the recent crypto hacks resulted in the US government prioritizing crypto crimes, the Treasury Office has blacklisted the Bitcoin address of Syrian-based terrorist fundraiser and recruiter Farrukh Furkatovitch
- At “B-Word” virtual event, Musk observed a positive trend towards Bitcoin mining going green. The CEO has stated Tesla will accept Bitcoin if 60% of its mining operations are based on renewable energy – which may not be far.
- Matrixport – a digital assets financial services platform – has joined the expanding list of crypto unicorns as it secured $100 million in a recent round of funding. Other mentions in the list include Paxos, Ledger, Amber Group, FTX and Fireblocks.
- The Chinese central bank has once again strengthened its resolve in eliminating crypto crimes in the country. The crackdown can be expected to turn further stringent.
- The Malaysia Securities Commission has launched enforcement action against Binance for illegal operations in the country.
- Amidst regulatory concerns, Binance has ceased Futures and Derivatives offerings in Germany, Italy and Netherlands – more countries in the EU expected to follow.
Top Weekly Gainers
The past week has observed a shift in the trend. The bullish trend started losing momentum and cryptocurrencies have turned static. However, there are still some cryptocurrencies that have shown phenomenal performance. We have compiled a list of some of the top gainers in the market.
PlayDapp (PLA) is the best performing cryptocurrency in the weekly timeframe with a gain of 250%. At the time of press, the cryptocurrency stands at a price level of $0.71. The price has increased by 54% in the past twenty-four hours. PLA is on a steep upward trend and appears to be continuing. PLA is the native token of the PlayDapp gaming ecosystem. The token can be utilized on the blockchain to trade and purchase NFTs.
NFTX (NFTX) had been trending upwards; however, the uptrend has reversed in the current timeframe. NFTX has had a weekly growth of 120%. At the time of publication, the cryptocurrency stands at a price level of $168. The price has declined by more than 10% while the daily trading volume has gone down by 46%. NFTX is a platform for creating NFTs.
Harvest Finance (FARM) is another of the top performing cryptocurrencies in the weekly timeframe. The cryptocurrency gained by 117% in the past seven days. At the time of writing, FARM coin stands at a price level of $209. The price has begun declining in the past twenty-four hours with a decline of 2.5%.
THORChain (RUNE) is trending upwards in the weekly timeframe. The cryptocurrency has increased by 99% in the past seven days. At the time of writing, RUNE coin stands at a price level of $7.21. The price has increased by nearly 20% in the past twenty-four hours while the trading volume has jumped up by 125%.
Quant (QNT) established a new all-time high in the past week. However, the uptrend has reversed in the recent timeframes. Quant coin gained by 77% in the past seven days. At the time of writing, the cryptocurrency stands at a price of $148. The price had declined by 6% in the past twenty-four hours while the trading volume has gone down by 40%.
Top Weekly Losers
Despite the end of the bullish momentum, the market sentiment has not exactly turned bearish. Cryptocurrencies have not yet confirmed downtrends and; hence, the losses are not a lot. Here is a list of some of the cryptocurrencies that have observed relatively high losses:
inSure DeFi (SURE) is the top loser on our list with a weekly loss of 28%. The cryptocurrency is trending downwards since the past day. At the time of press, SURE token stands at a price level of $0.0028. The price has moved down by 3% in the past twenty-four hours while the trading volume has declined by 45%. inSure DeFi is a crypto asset insurance protocol where SURE tokens are used to insure portfolios.
SafeMoon (SAFEMOON) had gained a lot of popularity but the cryptocurrency has made it to our top losers list because of the losses it has accumulated in the past week. The cryptocurrency declined by 20% in the past seven days. At the time of publication, SafeMoon stands at a price level of $0.0000021 with a decline of 6% in the daily timeframe. The daily trading volume; however, has increased by 37%.
Ampleforth (AMPL) has decreased by 17% in the weekly timeframe. AMPL token is trading hands at $0.95 at the time of publication. In the daily timeframe, the cryptocurrency has declined by 6% whilst the trading volume has dropped by 15%. Ampleforth is a cryptocurrency based on the blockchain of Ethereum.
Smooth Love Potion (SLP) tokens are earned through Axie Infinity game. Axie Infinity had exploded a few weeks ago and the current market corrections have led to SLP accumulating a loss of 16% in the weekly timeframe. SLP coin stands at a price level of $0.20 at the time of publication. The price has only had a minor downside move in the daily timeframe while the trading volume has declined by 2%.
The final loser of the week is Massnet (MASS) with a loss of 15%. At the time of publication, Massnet stands at a price of $0.83. The price has observed a decline of 5% in the daily timeframe while the trading volume has dropped by 57%. Massnet is an infrastructure layer which provides consensus services for public blockchains.
All-time High Coins
ATH coins presents a good opportunity to go short or long. In the highly volatile crypto market, new coins reach for highs every day. Here is a list of some of the ATH coins to bet on:
Cryptocean (CRON) established its all-time high in the daily timeframe at $2.49. The price of the cryptocurrency has fallen by 2% from the ATH – currently standing at $2.42. CRON has increased by 6% in the past twenty-four hours while the trading volume is falling. Cryptocean is a processing platform that integrated financial services with technology.
QiDao (QI) is another cryptocurrency that recorded a new all-time high in the daily timeframe. The new ATH is at a price level of $1.09. At the time of press, QI stands at a price level of $1.05 – down by 3% from the ATH. In the daily timeframe, the price has declined by 2% while the trading volume has dropped by nearly 70%.
Metahero (HERO) established a new all-time high at $0.042. The cryptocurrency is still trending upwards in the daily timeframe and can move for another high. At the time of writing, the price of the cryptocurrency stands at a price level of $0.034. The price has moved up by 2% in the past twenty-four hours while the trading volume has shot up by 90%.
Impossible Finance (IF) reached a new all-time high at $6.55 six days ago. At the time of publication, IF token stands at $5.18 – a decline of 20% from the ATH. The price of the token has increased by 21% in the past twenty-four hours while the trading volume has increased by 80%. Impossible finance is a decentralized incubator, launchpad and swap ecosystem.
DinoSwap recorded a new all-time high at $4.38 a couple of hours ago. However, the cryptocurrency fell by 11% and is currently operating at a price level of $3.81. DinoSwap is a cross-chain infrastructure platform designed to build liquidity. The platform is based on Polygon.
Hot ICOs to Watch Out For
ICOs present a lucrative way to accumulate high profits. Although the risk potential is also greater, ICOs are a good alternative for investors with a good risk appetite. Here is a list of some of the ICOs going on in the market:
Cardence.io is a multichain decentralized presale platform based on Cardano. The aim of the platform is to create a trustless fundraising ecosystem. The ICO of the project is set to end on August 20th. The project has a fundraising goal of $100,000.
Tokemak is a decentralized finance protocol which is designed to produce sustainable liquidity. The ICO of the project is set to end on 4th August. Tokemak has received $4,000,000 till now. Each TOKE token is priced at $8.
Eqifi is a community-driven global banking system. Utilizing the decentralized finance technology, the project aims to provide wider access to financial products otherwise only available to the privileged. The token sale of the project will end in three days and has a fundraising goal of $290,000.
Hi is a not-for-profit financial service provider which aims to eliminate the need for centralized banks. The end of the token sale is not specified and neither is the fundraising goal. Each token of the blockchain is priced at $0.01.
Altair is a blockchain service. It is a bridge between Centrifuge and Kusama. The bridge allows users to convert real-world assets onto Kusama. The token sale has been live since 30th July with no end date set yet. Each token is priced at $0.53.
ICOs require an in-depth research and study. So, we have also compiled a list of some of the good upcoming ICOs for you to research on.
Kalata is a decentralized finance protocol which will enable users to trade any kind of asset on the platform. The platform is powered by a peer-to-peer engine with decentralized price collateral. The ICO of the platform is set to begin on 5th August. Kalata has set a fundraising goal at $300,00 with each token priced at $0.25.
Creator Platform is a Blockchain-As-A-Service (BAAS) which is designed to enable users to build decentralized apps easily and efficiently. The ICO of Creator Platform will begin on 5th August. The fundraising goal for the project is $400,000. Each token has an ICO price of $0.10.
Alkimi is a decentralized advertising exchange based on Constellation Network’s technology. The exchange will host media exchange auction in real-time through Constellation’s technology. The ICO of the protocol will begin on 11th August and last till 19th August. The token is priced at $0.0.08 each.
Step Hero is a fantasy game based on Polygon and Binance Smart Chain. The game combined NFT and DeFi to offer a lucrative profit potential to players which can be earned easily. The ICO will begin on 15th August. Each token is priced at $0.08 for the ICO with further details to be revealed.
Gold Fever is another blockchain based game which may have great potential. The video game is free to play and earn. The players will also be able to earn directly through the game and to support the game’s ecosystem. Further details are to be revealed for the ICO.
Here are some of the good projects that have concluded their ICOs:
- Only1 is the first social media platform powered by NFTs built on Solana. The ICO of the project ended on 3rd August while the next phase in the fundraising process is to start soon
- Fanadise is a platform for social media influencers to cash in on their social media presence. The ICO ended on 29th July and the project was able to collect $3,830,000
- DinoX is a combat and strategy game with a dinosaur theme. The project ended on 28th July – raising $1,280,000
- Polkaplay is another good project, the ICO of which ended on 27th July. Polkaplay enables users to convert their content into NFTs. The project raised $450,000
- DeRace is an NFT horse racing game which allows players to earn profits while raising their horses. The project collected $2,040,000
We have compiled a list of some of the hot airdrops currently going on for you to cash in some free cryptos:
FUN Trading Competition
- Create an account on Binance
- New users who join during the activity period and complete trade of 55,000 FUN in eligible pairs will qualify to share a pool of $16,000 in FUN tokens.
- New users during the activity period who has a trading volume of 35,000 FUN token and above in any eligible FUN pair will qualify for a pool of $4,000 in FUN vouchers
- The top twenty users on the basis of trading volume in any eligible FUN trading pair will qualify to share a prize pool of $60,000 in FUN token vouchers
Binance Pool Giveaway
- Create an account on Binance
- Complete KYC verification
- Contribute a daily average hashrate of more than 50 TH/s for BTC to share a pool of 10,000 BUSD
- SCreate an account on Binance
- Follow TrustWallet on Twitter and retweet the given tweet
- Follow Binance on Twitter
- Download the Trust Wallet
- Complete the quiz and submit the giveaway form with your details filled
- 100 winners will be selected at random to win up to 250 TWT and rare NFTs
- 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