The cryptocurrency market has been largely bullish during the week. With exciting developments going on and altcoins surging, we take a trip around the crypto market to highlight good opportunities. Make informed investment decisions with our weekly newsletter!
Highlights of the week
Here are the top developments that happened around the market:
- FaceBook, Instagram and WhatsApp went offline for hours which provided an opportunity to crypto enthusiasts to bash centralized service providers
- There are rumors surrounding FTX Exchange to launch a political action committee (PAC) to exert its political prowess. However, the exchange denied the rum ours
- A recent report by Bank of America called the blockchain industry one of the most exciting new market. The Bank is bullish on digital assets
- Dapper Labs introduced NFTs and made them mainstream. The firm has now launched a new business unit for DAOs and aims to do the same
- Tonga is aiming to follow the footsteps of El Salvador by recognizing Bitcoin as legal tender
- Japanese regulatory authorities have taken notice of Cardano-holders. Japan reported that investors have failed to pay as much as $12.6 million in taxes
- Edward Snowden – the famous whistleblower – has come forth in support of cryptocurrencies. Snowden regards Bitcoin as stronger after China’s ban
- The DeFi lending protocol Compound is suffering from a bug. The bug has endangered $160 million investment
- KuCoin is the latest crypto exchange to close operations in China after the ban was re-announced. Huobi and Gate.io is also moving forward with their plans of leaving the country
- Grayscale has added Solana and Uniswap to an investment fund worth $495 million
- Coinbase users have been suffering from phishing attacks. Around 6000 users have come forward and the exchange has announced to reimburse them
Top Weekly Gainers
The global crypto market has increased by nearly 3% in capitalization. The surge has been caused by cryptocurrencies rallying upwards. Here are our five top performers of the week:
Axie Infinity (AXS) had recently led a price rally of Ethereum-based gaming tokens and the cryptocurrency has been observed repeating the cycle once again. AXS is the top performing cryptocurrency of the week with a gain of 111%. Axie Infinity is considered to be competing with the global job market with its unique proposition. It represents the future of game economies and it is the bullish sentiment that has helped reach a new all-time high.
Shiba Inu (SHIB) has been giving Dogecoin – the lead of the meme coin army – a run for its money. It entered our top performer list as it surged upwards by 83% in the past week. The increase can be attributed to Elon Musk’s tweet about his puppy of the same breed, Shiba Inu. Currently, the cryptocurrency stands at a price level of $0.000013.
Presearch (PRE) has been surging upwards with strong technicals. Currently, the token stands at a price level of $0.4325. The price has increased by 83% in the weekly timeframe and by 10% in the daily timeframe. The surge has been a result of the development team’s announcement. The token’s nodes are now in Open Beta and a new partnership is to be announced tomorrow.
Secret (SCRT) began an upward trend towards the end of September. The cryptocurrency has sustained its uptrend till now and has managed to enter our top performers’ list. Secret increased by 79% during the past week while the price has surged by 20% in the past twenty-four hours. Currently, the token is trading hands at $3.74.
We close out list with Centrifuge (CFG) which has increased by 60% during the week. The cryptocurrency has been surging and also managed to establish a new all-time high during the week. The surge has been a result of Altair winning Kusama’s parachain auction as Altair is built on top of Centrifuge.
Top Weekly Losers
While the market has been largely bullish, some cryptocurrencies have also been declining steadily. Feed the risky investor in you with a few short positions. Here are the top losers of the week:
Alitas (ALT) is the top loser of the week with a loss of 27%. The cryptocurrency has been on a steep declining ever since establishing its new all-time high towards the end of September. Currently, it stands at a price level of $11.22 and the downward trend appears to have been reversed as the price increased by 3% in the daily timeframe. Alitas introduces a new innovation in the directed acyclic graph architecture.
DigitalBits (XDB) is another top loser that has been declining after establishing a new all-time high. The cryptocurrency has lost 24% of its value in the weekly timeframe. However, the downtrend is not an indication of bearishness about the project as price rallies are always followed by market corrections. XDB coin stands at a price level of $0.39 and the price has increased by 3% in the daily timeframe.
Constellation (DAG) has declined by 21% in the past seven days. Currently, the cryptocurrency stands at a price level of $0.22 and the downward trend has been effectively reversed. Although an uptrend has yet to be confirmed, the cryptocurrency has increased by 8% in the past twenty-four hours. The platform is working towards making the blockchain industry more accessible.
Sologenic (SOLO) has been declining but the volatility of the cryptocurrency is diminishing. SOLO token has decreased by 21% in the past week. Currently, the token stands at a price level of $0.74 with the price movements moving towards near-neutral. Sologenic aims to be the bridge between traditional finance and decentralized finance.
Unibright (UBT) has lost 16% of its value in the weekly timeframe. UBT’s sharp decline has been as a result of a steep price rally. The price of the cryptocurrency may be moving upwards as it increased by nearly 3% during the past day. Unibright is a cloud-based integration platform.
Hot ICOs to Watch Out For
Do you want to get a taste of the cryptocurrency market by accumulating phenomenal gains? If yes, then ICOs may be a way to go about it. Here are some of the current projects to look into:
Dark Frontiers is a decentralized autonomous organization entirely controlled by its players. The platform is focused on changing the blockchain gaming landscape. It has introduced a unique way of utilizing NFTs and yield farming. The token sale will end in two days. Dark Frontiers has set the fundraising goal of $3,500,000 and has managed to complete 97% of its goal.
Beta Finance is a money market with offerings such as borrowing, lending and shorting cryptocurrencies. The aim of the project is to offset the volatility of the market and bring stability. The ICO of the project will end in three days and has set the fundraising goal at $3,000,000.
Waggle Network is a marketplace designed for multi-chain token pools and auctions. The project will give retail investors exposure to the primary market to provide project owners with increased liquidity. Waggle Network’s ICO will end in three days. It has set its fundraising goal at $3,250,000.
Pledge Finance is a decentralized lending protocol built on Binance Smart Chain. The project is focused on providing long-term liquidity and also allows crypto investors to diversify their portfolios through investment in non-crypto assets. The token sale will end in 6 days. The project has raised 11% of its total fundraising goal of $27,420,000.
Highstreet is a marketplace for limited-edition goods. It is designed for influencer-led brands and celebrity collaborations. Highstreet guarantees authenticity of products. The token sale will end in nine days. Highstreet has set its fundraising goal at $6,500,000 – out of which it has managed to raise $5,000,000 up till now.
ICOs are a good alternative to invest in the cryptocurrency market. They provide a good profit potential albeit with increased risk. Here are a few upcoming projects to watch out for:
SolRazr is one of the good upcoming projects that needs to be on your radar. It is a fundraising platform based on the blockchain of Solana. SolRazr aims to become the de-facto fundraising platform in the blockchain industry by offering features like fair and decentralized access to resources. The token sale of the project will begin on 6th October. The project aims to raise $300,000 through the ICO with each token priced at $0.30.
AntEx aims to build the decentralized financial ecosystem with solutions targeted at each key player of the market – developers, project owners & community. It has a stablecoin mechanism, a DEX, crypto asset manager, NFT startup incubator and much more. So, this is definitely a project that should on crypto investor’s watch list. The ICO will begin on 10th October with the fundraising goal of $2,880,000.
Gods Unchained is a free-to-play card game that empowers users by giving them complete ownership over their in-game resources. Gods Unchained is focused on competitive play between players. The game is set to launch in a time where NFTs are hyped up which will benefit the project. The token sale of Gods Unchained is set to begin on 11th October. Each token has an ICO price of $0.336.
We have another gaming project for you to look into. Moniwar is a puzzle game based on the blockchain technology. Moniwar combines game play with the decentralized finance technology to allow users to enjoy as well as earn. The ICO of the project is set to begin on 12th October. The team has set up their fundraising target at $100,000 with each token priced at $0.035.
The final project we suggest you to watch is KSM Starter. KSM Starter is essentially a primary launchpad based on Kusama. It is designed to provide support as well as help secure funding for early-stage projects on Substrate. The token sale will begin on 7th October with the fundraising goal of $2,530,000.
Some of the ICOs that have performed well and completed their fundraising goals are:
- Heroes & Empires is an NFT-based strategy game which was able to raise $1,660,000
- Continuum World is a free-to-play and play-to-earn online game. The ICO of the project ended on 4th October and raised $300,000
- NFracTion project fractionalizes NFTs and is also a multi-chain NFT marketplace. The token sale ended on 3rd October and raised $1,780,000
- FUFU is a platform to create quizzes and earn NFTs in return. The ICO of the project raised $3,600,000
- Monsoon Finance is focusing on privacy tools for smart contracts and DeFi. The project raised $50,000 through the ICO
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