The cryptocurrency market has sustained its bullish outlook with the king and queen skirting near their ATHs. The market capitalization of the global cryptocurrency market has moved up by 1.37% – currently at $2.61 trillion. The bullishness of the king and queen has translated into altcoins as well – although one should stay prepared for market corrections as well.
Highlights of the week
Here are the top developments that happened around the market:
- BTC continues its bullish rally at a price level of $62,405 – price predictions of $100,000 seems likely for the king of the market. Ethereum is following suit with the king of the market and stands at $4,196
- The controversy surrounding stablecoins – especially Tether – has led to reports of the US Treasury Department to give the reins to the Security Exchange Commission for regulation of stablecoins
- The SEC had served Terra and its CEO Do Kwon with a Subpoena; in response to which, both sued the SEC.
- Do Kwon thinks that the current DeFi landscape is not aligned with the SEC’s regulatory framework. However, this may lead to more innovation in the industry
- The SEC Chain Gary Gensler think the crash of DeFi is going to brutal unless protective measures are put in place
- Mastercard has partnered with digital asset firm Bakkt to allows merchants within its network to accept crypto payments and offer crypto rewards
- Dapper Labs’ NFT formula has proven successful with sports leagues and there has been a surge in sorts NFT collectables – says Dapper Lab’s Caty Tedman
Top Weekly Gainers
The continued bullish momentum in the market caused by Bitcoin has resulted in altcoins surging towards the moon. We have compiled a list of the top movers in the weekly timeframe for you to know of!
Kadena (KDA) has surged upwards by 149% and has also established a new all-time high at $8.18 during the past twenty-four hours. Currently, the cryptocurrency stands at $6.66 while the price has begun a descent by moving down 10% during the day. Kadena regards itself to be the only Proof-of-Work blockchain with the safest smart contracts.
LCX is another top-performer of the week that has established a new all-time high amidst the bullish momentum. The cryptocurrency surged upwards by 124% in the past seven days. The bullish momentum has not ended for LCX yet as the price has moved up by 50% during the past twenty-four hours. LCX is a cryptocurrency exchange that operates within the global legal purview.
Wemix (WEMIX) has moved up by 100% during the past week and has also established a new all-time high. The cryptocurrency continues its steep upward trend with the price moving upwards by 30% during the day. Currently, the price stands at a price level of $3.56 while the new all-time high is at $3.97. Wemix is a global gaming platform based on the blockchain.
Secret (SCRT) is also benefitting from the bullish momentum of the market. SCRT token has increased by 85% during the past week while the daily performance is up by 30%. The Secret Network is focused on privacy-centric smart contracts. The offering of the network plays a key role in unlocking a multitude of use cases for Web 3.0
Curve DAO Token (CRV) is our final top performer of the week with price growth of 80%. Currently, the token stands at a price level of $5.06 while the price has increased by 20% during the day. If the upward trajectory is maintained by the token, it may very soon break its previous all-time high.
Top Weekly Losers
Although the bullish momentum is going strong in the market, the volatility of the crypto market ensures that there are losers despite it. Here are the top five losers to steer clear of or nose dive into:
Braintrust (BTRST) is our top loser of the week with a loss of 27%. The cryptocurrency has been falling sharply after establishing a new all-time high during the beginning of October. The downtrend of BTRST token has been amplified in the past week and strong bullish forces are needed for the token to help it reverse its trajectory.
Beta Finance (BETA) is a new launch in the market and after surging initially, the token has begun a decline. The cryptocurrency fell by 15% during the past week although the daily performance shows an uptick of 8% in the price level. Beta Finance is a permissionless money market based on Ethereum.
Livepeer (LPT) is another top loser with a decline of 15% during the week. Livepeer is under market corrections after the cryptocurrency had a steep incline. However, the market corrections may have ended for the token as the price is moving towards a positive change in the daily timeframe. Livepeer is the first live video streaming platform that is completely decentralized.
NuCypher (NU) established a new all-time high during the bullish price rally but subsequently suffered from brutal corrections leading to a decline of 13% in the past week. Currently, the token stands at a price level of $1.14 while the price has increased by nearly 3% – indicating the end of the market corrections.
Stacks (STX) is our final loser with a loss of 7% during the week. Like our other losers, Stacks had also been under corrections which led to a steep decline in the tokens. However, the cryptocurrency may be reversing its trend in the daily timeframe. Stacks is a Layer-1 solution to bring smart contract capability to Bitcoin.
Hot ICOs to Watch Out For
If you are looking for even more risk and higher yields, then ICOs maybe it for you. Invest in a crypto project right from the beginning and if you place a wise bet there’s a high potential for phenomenal gains. Here are some of the top active ICOs going on in the market:
Space SIP is an NFT-based game built on Binance Smart Chain through which users can earn in a fun way. Users can build, conquer and earn NFTs in the process. The NFTs can be sold in the marketplace for a profit. The game will be released in the first quarter of 2022 with a lot of other developments planned. The token sale will end in three days and the team has set up the fundraising goal at $230,000.
Sandclock is a multichain decentralized finance platform. The aim of the project is to create the next generation of wealth creation by employing state-of-the-art yield generation strategies. It is essentially a wealth management platform based on the blockchain technology. The token sale of the project will end on 27th October and has raised $10,170,000 up till now.
Akt.io is a decentralized peer-to-peer currency as well as a blockchain service that is designed to empower users with financial freedom. The Akt.io project has built an application through which users can manage all of their investments, earn and make payments through cryptocurrencies. The token sale of the project has achieved 32% of its fundraising goal of $31,250,000 currently.
Ariadne is a cross-chain decentralized finance marketplace. The platform is designed to lower the fees required while entering and exiting yield farms on blockchains. It is a multi-chain aggregator which allows users to move and re-allocate assets faster and cheaper. The token sale will end in 15 days. Ariadne has set up the fundraising goal at $150,000.
Nyan Heroes is an NFT-based game on the blockchain of Solana. The game employs a play-to-earn metaverse model. The genesis sale will feature 11,111 unique Nyan heroes. Owning a Nyan hero has its own advantages to the owner, for example, exclusive access to various features of the game, etc.
While risk may discourage investment, research is the key to minimize it if you want to indulge in riskier investment options. Instead of active ICOs that are time bound, look into upcoming projects for investment purposes.
The OliveX gamified fitness ecosystem is launching a native token which will be used to incentivize users. The token, DOSE’s ICO will begin on 27th October. DOSE is an ERC-20 Fungible Token used for purchase, utility and action. Users will be rewarded with the token for completing workout-based gameplay in the OliveX fitness ecosystem. The tokens can be used to unlock items, purchase NFTs and gain access to special events.
Portal is a Layer-2 decentralized finance protocol designed for Bitcoin. It is a trust-minimized and peer-to-peer software running on top of Bitcoin which will bring DeFi capabilities to the king of the market. Portal allows cross-chain transactions with the security of centralized exchange but the privacy and security of blockchains. The ICO is set to begin on 31st October.
Swash is a blockchain service designed to empower people by giving them ownership over their data. It is created to enable all the agents in the data ecosystem to learn, earn and collaborate with each other. It has various incentivization streams as well as data monetization mechanisms. The token sale of the project will begin on 29th October.
Scallop is a fintech ecosystem that is designed to enable a faster and more efficient way of managing cryptocurrencies and fiat currencies in one place. It aims to remove the barriers between the fiat and crypto world. Scallop also enables users to access defi through their fiat accounts. The token sale will begin on 27th October. The project has set up its fundraising goal at $2,480,000.
AcknoLedger is a platform designed for the NFT metaverse of the Web 3.0. The platform is designed to map, monetize and distribute web 3.0 digital assets across metaverses and NFTs. The token sale will begin in 23 hours and the platform has set its fundraising goal at $1,800,000.
Here is a list of some of the ended projects that have ended:
- Envelop is a cross-chain protocol for NFTs that managed to raise $1,100,000 through its ICO that ended on 22nd October
- BloXmove is designed to connect electric mobility to power grid in order to achieve carbon neutrality. The ICO raised $200,000
- Wonder Hero is a play-to-earn NFT-based game. The ICO ended on 21st October, raising $1,850,000
- Waterfall DeFi introduces risk tranching to the defi ecosystem. The project’s ICO was able to raise $180,000
- TapMe is a play-to-earn game with a staking system and market. The ICO successfully raised 100% of its fundraising goal
Get your hands on some of the hottest airdrops currently going on
- Visit the Ares giveaway form
- Join their Telegram group and channel
- Follow Ares on Twitter and retweet the pinned tweet with the hashtag #winarescontest and tag three friends
- Submit your details and sign up
- A total of 2,500 participants will be selected to win up to 400 ARES
- Create an account on Binance
- All new users who fill out this form and invite at least 10 eligible referrals will share a pool of 25,000 BUSD
- Visit the Permission Airdrop page
- Submit your details and sign up
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- Users will receive 100 ASK
- Additional tasks can be completed to earn more ASK tokens
Woo Network Airdrop
- Visit the Woo Network registration page
- Sign up with your details
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- Deposit and stake WOO
- A snapshot will be taken every week to determine each users’ reward everyday
- Eligible stakers will receive WOO proportionate to that staked by them