The week had brought good news for the crypto market. Major cryptocurrencies surged upwards as favorable news is expected to hit the market soon. The situation with Evergrande has now stabilized and there is talk to BTC ETF hitting the US market soon. Moreover, key players like Elon Musk had also a role in a few surges.
Highlights of the week
Here are the top developments that happened around the market:
- The week had been bullish for major cryptocurrencies as Bitcoin increased by 15% while Ethereum went up by 8%. Increasing institutional interest has been cited by some as a reason for the bullish trend.
- Ethereum-based NFT game Sorare has found itself under scrutiny by UK regulators. The UK Gambling Commission is investigating the game.
- The FTX exchange has had ambitious plans in the past. Currently, the exchange has added Solana’s NFTs and a plan to incorporate Ethereum NFTs is under works.
- Edward Snowden – the famous whistleblower – has come forth against CBDCs. Snowden has expressed his concerns of how workers can lose autonomy over their savings with CBDCs
- El Salvador’s president announced that the government has accumulated $4 million in crypto profits and the government plans on building a pet hospital with the money
- Vitalik Buterin took it to Reddit to criticize El Salvador’s president, citing the president’s approach is contrary to the fundamentals of cryptocurrencies which advocates freedom
- The SEC vs. Ripple Labs lawsuit seems to have no end to it. However, Ripple delivered another blow to the SEC which caused a surge of 9% in XRP.
- The grueling crackdown in China appears to have been ineffective against NFTs as NFTs continue to be hot in the country
Top Weekly Gainers
The cryptocurrency market has been bullish with the king and queen of the market moving up. The bullish momentum has also reached out to altcoins and many of them are performing phenomenally. Here are out top five coins of the week:
Shiba Inu (SHIB) also known as the “Doge killer” continues to be the best performing cryptocurrency over the week. SHIB token has surged upwards by 139% in the weekly timeframe with the uptrend continuing. The jumps by the token have been attributed to Elon Musk tweeting pictures of his puppy which is the same breed, Shiba Inu. Currently, Shiba Inu stands at a price level of $0.00003019.
Function X (FX) has also been surging on account of activities going on in the network. The token recorded a phenomenal increase of 122% during the week. Currently, governance voting is going on in the network with the first proposal on integrating cross-chain support for Binance Smart Chain. The proposal, if approved, can lead Function X to higher highs.
Secret (SCRT) is another well-performing cryptocurrency of the week. The token surged upwards by 90% during the week and also established a new all-time high at $7.01 during the daily timeframe. The current price of $6.90 is standing close to the ATH while the bullish momentum has not ended yet. Another jump to the upside may be expected.
AnySwap (ANY) has also recorded a new all-time high during the past week with an increase of 88%. Recently, AnySwap facilitated the integration of Orbs network on to Avalanche. The network is growing fast and is aiming for 5 billion in Total Value Locked. The phenomenal performance is responsible for the bullish momentum of the cryptocurrency.
SuperRare (RARE) has picked up the pace after market corrections overtook the cryptocurrency. The cryptocurrency has increased by 81% in the weekly timeframe. Currently, the token stands at a price level of $2.92 while the price has somewhat stabilized in the daily timeframe.
Top Weekly Losers
While the bullish trend is on the high, some cryptocurrencies appear to be immune to it. We have also compiled a list of some of the outliers that have portrayed subpar performance over the course of the week.
Counos X (CCXX) has been declining sharply after a sustained period of bullishness. The cryptocurrency has lost 44% of its value over the week. The price continues to spiral downhill in the daily timeframe with a decline of $30 – or 34%. However, the daily trading volume has been surging. Counos was created to facilitate payment and clearing purchase invoices.
Pac Protocol (PAC) is another loser of the week. PAC token has declined by 39% in the weekly timeframe and 8% in the daily timeframe. Pac Protocol’s decline can be attributed to market corrections as it is following a bullish incline which happened during the beginning of the week. Pac Protocol is focused on providing solutions to real-world problems through blockchain technology.
LCX (LCX) has been highly volatile in recent timeframes. The cryptocurrency declined by 33% in the past week while the price is at a near-standstill in the daily timeframe. Currently, the token stands at a price level of $0.1066. LCX is a secure and compliant exchange for trading and storing digital assets.
Star Atlas (ATLAS) has been continuously declining since the beginning of October. The cryptocurrency fell by 27% in the weekly timeframe. Star Atlas is a multiplayer online blockchain game with a virtual metaverse. However, the project is relatively new so the price may be considered to still be in the discovery phase.
Wemix (WEMIX) is our final loser of the week. The cryptocurrency has declined by 25% in the weekly timeframe. It is currently under market corrections; hence, the bearish trajectory will be followed by an uptrend soon. Wemix is a global gaming platform.
Hot ICOs to Watch Out For
Initial Coin Offerings give investors a good opportunity to get involved in a project right from the beginning. If you are looking for something like that then look no further as we have compiled a list of currently ongoing ICOs for you.
Manga Fomo Chronicles is a series of NFTs with Manga theme. The project also aims to educate players about the market in a fun and laidback manner. Various partnerships with exclusive artists are also under the works to create Manga NFTs. Manga Fomo Chronicles’ ICO is set to end in three days. The project has raised $740,000 up till now
AntEx is a decentralized finance infrastructure aiming to bridge the crypto world with the real world. The platform is building a seamless payment gateway between crypto and fiat currency. The token sale of the project will end in five days. The ICO has raised $1,930,000 up till now which is 35% of the total fundraising goal.
Kintsugi is a canary network for Bitcoin. Kintsugi will open Bitcoin to Kusama and its parachain in order to enable higher liquidity to the parachains. This will also boost the interoperability in the market. Kintsugi’s ICO is active with further details to be announced by the team.
The Three Kingdoms is a third generation NFT game. This is the first NFT game to be based on ancient Chinese classics. It is an engaging game with a lot of potential. The ICO of the project will end in a couple of hours. The Three Kingdoms has managed to raise $3,000,000 up till now which is around 94% of its total fundraising goal.
Highstreet is a marketplace that specifically caters to limited edition products. Influencer-led brands and collaborations of brands with artists have limited supply of products and Highstreet aims to become the go-to market for those products. The ICO of the product will end in two days. Highstreet has raised $5,000,000 – 77% of its total fundraising goal.
If you want to carefully deliberate before investing in ICOs then explore our upcoming projects’ list.
Project Oasis is a virtual universe designed for players to socialize and interact with the decentralized finance ecosystem through applications. The platform has various features like a launchpad, an automated market maker, NFT marketplaces, and play-to-earn schemes. The fundraising goal of the project is $150,000 with each token priced at $0.20. The ICO will begin in a day.
Strips Finance is a platform designed for trading derivatives. The platform offers leverage, 24/7 liquidity and some of the best yield farms that guarantee a good return. Strips Finance’s aim is to become the go-to platform for trading fixed-rate products in the market. The ICO is set to begin in two days.
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 in two days. Each token has an ICO price of $0.336.
DareNFT is a project focused on solving the problems of the NFT sector. It aims on bringing in the NFT 2.0 with advanced features. The project has designed several products to facilitate that with the first product being DarePlay – a GameFi platform with a gaming launchpad. The ICO of the project will start in a couple of hours with the fundraising goal at $300,000.
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 in 12 hours. The team has set up their fundraising target at $100,000 with each token priced at $0.035.
Here is a list of some of the good projects that have ended:
- Define is an online blockchain game which combines DeFi and NFT. The project raised $600,000 through its ICO
- Warena is a combination of play-to-earn and Metaverse. The ICO ended on 9th October and raised $2,090,000
- DecentraWeb allows people to create their own top level domain (TLD) on Ethereum’s blockchain. The project was able to raise $2,650,000
- Waggle Network is a marketplace for multi-chain token pools. The ICO of the project ended on 8th October, raising $3,250,000
- Aleph Zero is DAG infrastructure focused on privacy. The token sale was able to raise $14,800,000
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