Weekly Recap: Crypto News, Top Movers, ICOs & Hottest Airdrops

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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 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:

  • The head of the US wing of FTX trading platform is adamant on offering crypto derivatives trading on the platform in a year’s time
  • The Biden administration has reportedly excluded miners from the Infrastructure Bill and hence exempt them from heavy taxes
  • The U.S State Department has offered rewards up to $10 million to dark web informants amidst growing cyber crimes
  • Last Week Tonight host John Oliver criticized privacy coin Monero during his session on ransomware citing it to be the hub of illegal transactions
  • Poly Network’s hack of $600 million shook the cryptocurrency world. However, in a bizarre turn of events the hacker returned all of the stolen assets.
  • Binance’s troubles are far from over. The exchange was ordered by England’s high court to identify and freeze accounts involved in an alleged hack of $2.6 million
  • Argentina’s president Alberto Fernandez is skeptical of cryptocurrencies yet he stated the idea of cryptocurrencies playing a part in the country’s economy is not out of the picture. With inflation a major problem, the president believes cryptocurrencies may solve it
  • The Bank of Korea is going ahead with launching its CBDC. The bank is currently exploring options of launching the CBDC on Samsung Galaxy smartphones
  • Dogecoin has been surging as Mark Cuban and Elon Musk calls it “The Strongest Cryptocurrency”. Moreover, players from the English soccer team Watford F.C will wear Dogecoin jerseys
  • The credit rating agency Fitch has issued alarm about El Salvador’s adoption of Bitcoin as legal tender following Moody’s similar concerns.

Top Weekly Gainers

The bulls have been going strong for the cryptocurrency market. Coins have accumulated phenomenal gains and showed extraordinary performances. Here are our top five best performers of the week:

Yield Guild Games (YGG) is the top performing cryptocurrency of the week. The token has shot up by a staggering 257% in the weekly timeframe. YGG token has been on a steady uptrend since the beginning of August. At the time of publication, the token stands at a price level of $7.13. The price has increased by 15% in the daily timeframe while the trading volume is also surging upwards. YGG is a DAO which invests in NFTs of the virtual world.

Request (REQ) shot upwards by 219% in the past seven days. Although the uptrend may have been reversed in the daily timeframe as the token price of $0.22 has declined by 2% in the daily timeframe. REQ is the utility token of the Request network which is a safe and secure payment system.

Audius (AUDIO) exploded upwards in the daily timeframe and managed to accumulate gains of 177% in the weekly timeframe. At the time of writing, AUDIO stands at a price level of $3.67. The price has jumped up by 126% alone in the past twenty-four hours while the daily trading volume has surged by a whopping 4,500%. Audius is a decentralized music-sharing and streaming platform.

Dent (DENT) is another of the top-performing cryptocurrencies despite a subpar performance in general. The cryptocurrency shot upwards by 106% in the weekly timeframe. At the time of writing, Dent stands at a price level of $0.0067. The upward trend appears to have been broken as the daily price movement has observed a decline of 9%. The daily trading volume has also declined by 40%.

Solana (SOL) is the final top-performing cryptocurrency in our list. SOL token has managed gains of 77% in the past seven days. It is the top-performing cryptocurrency in the top hundred by market cap. At the time of publication, SOL stands at a price level of $71.11. The cryptocurrency has increased by 15% in the daily timeframe and it has also established a new all-time high.

Top Weekly Losers

While the crypto market has been bullish, there are some cryptocurrencies which failed to pick up the pace. Here is a list of the top five losers of the week:

Alchemy Pay (ACH) is the top loser with a weekly loss of 29%. The cryptocurrency established its all-time high in the previous week so the market has been in correction in the weekly timeframe. At the time of writing, ACH stands at a price level of $0.074. The price has declined by 6% in the weekly timeframe while the daily trading volume has increased by 25%. Alchemy Pay is a payment gateway to bridge the gap between fiat and crypto currencies.

Safemoon (SAFEMOON) has been declining gradually ever since the hype of the cryptocurrency peaked during the bull run. The weekly performance of Safemoon has been down by 27%. At the time of writing, the cryptocurrency stands at a price level of $0.0000016. The price has declined by 13% in the past twenty-four hours while the daily trading volume has shot up by 130%. Safemoon is a DeFi token with plans to build a NFT marketplace.

NFTX (NFTX) has been going downhill in the weekly timeframe with a loss of 25%. At the time of writing, NFTX stands at a price level of $151.47. The price has declined by 10% in the past twenty-four hours while the trading volume has increased by more than 60%. NFTX’s platform is used to create non-fungible tokens.

Zeon (ZEON) is another cryptocurrency for which the current bulls fell short. The cryptocurrency has declined by 19% in the past seven days. At the time of writing, Zeon stands at a price level of $0.0028. the price has declined by 4% in the past twenty-four hours with the trading volume increasing. Zeon is a decentralized platform for financial services.

Cartesi (CTSI) is the final loser in our list with a weekly loss of 11%. At the time of press, Cartesi was trading hands at $0.75. The price is falling in the daily timeframe as well with a loss of 5%. The daily trading volume has decreased by nearly 70%. Cartesi has brought a novel version of optimistic roll ups to solve the scalability problem facing smart contracts platforms like itself.

All-time High Coins

The bullish momentum has resulted in cryptocurrencies aiming for the moon. The market is flooded with ATH coins. Here are our top five:

Terra (LUNA) – the sixteenth largest cryptocurrency – has established a new all-time high at $24.96. The current price is hovering close to the new ATH suggesting the bullishness may not have ended yet. The price has surged upward by 15% in the past twenty-four hours with the daily trading volume increased by nearly 90%.

Bifrost (BFC) recorded its all-time high at $0.2674 three days ago. The current price of $0.23 has declined by 12% from the ATH; however, the coin is picking up the bullish momentum again. The price has increased by 10% in the daily timeframe while the trading volume is declining. Bifrost is a multichain middleware platform for decentralized apps.

Soda Coin (SOC) is another cryptocurrency that was able to cash in on the bullish momentum. It established its all-time high at $0.166 a couple of days ago in the weekly timeframe. The price of SOC token has fallen to $0.126 currently but an upward trend appears to be establishing once again. In the daily timeframe, the price of the cryptocurrency has increased by more than 20% while the trading volume has shot up by 60%.

IoTeX (IOXT) surged upwards in the weekly timeframe and established its all-time high at $0.148. The cryptocurrency could not sustain the bullish momentum and declined substantially. The current price of IOTX is at $0.083 which is down by 40% from the ATH. The price is continuing to drop in the daily timeframe with a decline of 16%. IoTeX stands at a market rank of 103.

Tokemak (TOKE) currently stands at its all-time high price of $25.11. The cryptocurrency is a new launch and has been going up ever since. The price of the cryptocurrency has increased by more than 15% in the daily timeframe. It can be expected to establish a new ATH soon. Tokemak is a decentralized liquidity provider and market maker.

Hot ICOs to Watch Out For

Active ICOs

Investing in the crypto space and haven’t thought about ICOs? That does not sound right. Let’s rectify that. Here is a list of some of the projects that you can watch for investment:

Cardence.io is a decentralized presale platform based on the blockchain of Cardano. The platform creates a trustless fundraising ecosystem. Cardence is the first of its kind to also integrate affiliate marketing projects, vesting schedules, whitelisting and auto locking of liquidity. The ICO has been live since July 20th and will end on August 20th. Cardence has a fundraising goal of $100,000 with each token priced at $0.04.

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 18th August. The token is priced at $0.0.08 each.

dYdX is a decentralized protocol for financial derivatives built on Ethereum and Ox. The project uses off-chain order books and on-chain settlement to create efficient markets. dYdX provides lower fees, deep liquidity and greater buying power.

Polylauncher is a launchpad for Polygon-based projects. The launcher aims to provide a fair and transparent ground for new projects to take off from. The ICO of the project will last from August 16th to August 18th. Each ANGEL token is priced at $0.02. Polygon crypto has been one of the best performing cryptocurrencies in the top hundred by market cap. This makes the project a good bet.

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.

Upcoming ICOs

Your risk-lover tendencies are piqued? Don’t worry, we have got more. We have also compiled a list of some of the good upcoming projects.

CoinsPaid is a financial ecosystem which also offers cryptocurrency products. The aim of the network is to connect businesses with decentralized finance solutions. The network is launching its own utility token CoinsPaid Token which will facilitate the transfer of assets over the network. The ICO starts on August 22nd.

Synapse Network is another interest proposition that you should definitely look into. The network aims to be the bridge between investors and good projects. Through the decentralized blockchain technology, Synapse Network will make fundraising available to everyone. The fundraising goal of the project is $255,000 with each token priced at $0.085.

Multigame is a GameFi platform based on Binance Smart Chain. The network will work on its own GameFi projects and at the same time act as an accelerator for gaming and NFT startups. The ICO is set to begin on August 30th. Each MULTI token is priced at $0.022.

Creator Platform is a Blockchain-As-A-Service which aims to help entrepreneurs build their decentralized applications. The platform aims to create a cost-effective and efficient hosting environment to incentivize the usage of the technology. The ICO will begin on September 8th. The project has a fundraising goal of $400,000 with each token priced at $0.10.

Bloktopia is essentially a skyscraper with 21 levels to pay homage to the 21 million supply of Bitcoin. The network will provide the ultimate blockchain experience with educational content. Users will also be able to earn through real estate ownership, advertising, and playing games. The ICO will begin on September 29th. Each token is priced at $0.00025.

Ended ICO

  • StarFi is a multichain network for NFT creators based on Web3. The project ended on 13th August and managed to raise $1,400,000
  • Bright Union is a decentralized insurance aggregator. The ICO ended on 6th August and the project raised $250,000
  • Ethereum Eagle is a community led effort focused on minimizing the lack of transparency between the community and miners.
  • Port Finance is a decentralized money market built on top of Solana. The project ended on 9th August and raised $1,160,000 – completing its fundraising goal
  • Equifi regards itself as the one-stop shop for all things DeFi. It aims to make DeFi easier to use for end-user. The project ICO ended on 6th August and raised $290,000

RAY Trading Competition

  • Create an account on Binance
  • Trade 150 or more RAY tokens in eligible pairs during the activity period and participate in the quiz to share a pool of $70,000 in RAY
  • All users who trade 1,200 or more in RAY will be ranked on the basis of their trading volume and could win up to $7,000 in RAY

SKALE Network

  • Visit the airdrop page
  • Sign up
  • Verify your email
  • Join the Telegram group and post a message
  • You will receive 100 entries.
  • Complete more tasks for additional entries
  • The top 786 users with the highest entries will win up to 4,000 SKL each

DeFiChain GIveaway

  • Create an account on DeFi Cake
  • Complete all verifications
  • Deposit $50 worth of any supported currency
  • You will receive $50 worth

Morpher Airdrop

  • 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

SwissBorg Airdrop

  • 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
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