The cryptocurrency market has become somewhat stable. The volatility is notoriously known for has pulled back as cryptocurrencies move up and down in a stable market. The year 2021 has been a rollercoaster for the cryptocurrency market with highs and lows never heard of before. With just days left in 2022, the new year is expected to bring favorable news to the market.
Here is a quick rundown of the past week in the cryptocurrency market!
Highlights of the week
Here are the top developments that happened around the market:
- BTC is skirting close to 50k although it has not been able to break the resistance – currently trading at a price level of $49,374. The queen of the market is also struggling to cross $4,000 with the current price at $3,910
- While the king and queen of the market are struggling to depart on a bullish roll, altcoins are gaining momentum. In the past week, Polygon, Shiba Inu, Terra and Aave have outperformed Bitcoin and Ethereum
- Turkey’s president has announced that the crypto proposed bill is headed towards the parliament. The president is not a big fan of cryptocurrencies but a ban is not currently under works
- Binance is continuing its expansion journey and has announced to pursue a crypto license in Bahrain
- Kraken is building its own NFT marketplace. The CEO Jesse Powell has announced top notch features for the marketplace. Users can even borrow funds against their CryptoPunks
- El Salvador president is also building his Bitcoin stash while citizens are reporting cryptocurrencies to be vanishing from their wallets. The president has yet to address the matter
- Crypto regulation in the United States may also take a drastic turn as a pro-Bitcoin senator Cynthia Lummis has announced to propose new crypto regulation laws
- FaceBook – now Meta – is advancing with its plans on crypto-integration. The firm is aiming for deep compatibility with the blockchain realm
Top Weekly Gainers
Cryptocurrencies move up and down at their own pace despite the market’s sentiment which leads to numerous high-return investment opportunities. Here are some of the top gainers that you can explore:
Velas is one of the top performers of the week with an increase of 79%. The cryptocurrency has been trending upwards after the bearish pressures from November died down. Velas has had some interesting developments which are fueling the uptick of cryptocurrency. The network managed to bag a partnership with the leading car brand Ferrari for the creation of exclusive NFTs for Ferrari’s fans.
SushiSwap has garnered gains of 68% during the running week. Currently, the token is standing at a price level of $9.18 with the daily price movement revealing an upside move of 16%. SushiSwap is one of the leading automated market makers and originated as a fork of the most popular DEX, Uniswap. SushiSwap has been facilitating developments in the decentralized finance space.
Dusk Network has been a consistent top performer for weeks now. The cryptocurrency has managed to enter the top performers’ list this week as well as it managed to garner gains of around 66%. The cryptocurrency also established a new all-time high during the daily timeframe. 2021 has been a busy year for the network and it has made many major developments and the anticipation of the launch of the testnet in February 2022 is fueling the bullish momentum.
Near Protocol is another top performer that has also managed to establish a new all-time high during the past twenty-four hours. The cryptocurrency has surged upwards by 58% during the weekly timeframe. The daily price movement shows a downturn in the token, indicating the onset of market corrections.
Dogelon Mars has been one of the trending meme coins in 2021. The cryptocurrency is, once again, on a bullish roll as it battles with the bearish momentum to reach higher. Currently, the meme coin stands at a price level of $0.0000016 with the price having increased by 56% during the running week while the daily price movement does not show any significant moves.
Top Weekly Losers
One thing is for sure: the crypto market will never be without high movers – be it to the downside or to the upside. Here is a list of some of the top losers of the past week to steer clear of:
Sologenic bags out the title of the loser of the week as the cryptocurrency has garnered losses of 59% during the past week. The sharp fall comes as the cryptocurrency is delved in brutal market corrections. Solo established a new all-time high as December began and has been fighting for the continuation of the bullish momentum during the month with one of its highly anticipated giveaways currently going on. Sologenic is expected to have a quick rebound soon.
Biswap has also fallen prey to the bears of the market after prolonged bullish momentum in the month of December was seen. The cryptocurrency has declined by 37% during the past seven days while the daily performance shows a decline of more than 8%. Currently, the tokem stands at a price level of $1.15.
Anyswap has finally lost its strong bulls and has declined by 29% during the weekly timeframe. The network had recently announced the rebranding of Anyswap to Multichain in order to expand its scope. The announcement had caused the token to surge upwards but as is the norm in the market, corrections will follow bullish moves. But the project has strong fundamentals and is expected to pick up the pace once the bears subside.
BabySwap established its all-time high in the middle of December and lost all bullish momentum ever since. The cryptocurrency has declined by 25% during the past week. BabySwap is currently trading at a price level of $1.06. BabySwap is an automated market maker and a decentralized exchange for NFTs based on Binance Smart Chain.
HyperDao is the final loser of our list as it recorded a loss of 24% during the week. HyperDao also reached a new all-time high during December and has lost all signs of bullish momentum ever since. Currently, the token stands at a price level of $0.086 with the price has declined by 5% during the daily timeframe as well.
Hot ICOs to Watch Out For
Investing in ICOs is an ideal way to enhance yields from the cryptocurrency market; however, they require much more deliberation and care. Here are some of the ICOs currently going on that you can explore:
Avocado DAO is a metaverse-focused project. Ever since FaceBook’s rebranding to Meta, the metaverse realm has been booming with activities with new projects giving their take on the space. The Avocado DAO is a collection of contributors who believe in the potential of the blockchain and metaverse and aims on exploring it. The token sale of the project will end in three days.
Ouro is capitalizing on the inflation aced by the US Dollar in order to create an asset that is immune from inflation. The aim of the project is to create an inflation-proof store of value on Binance Smart Chain. The token sale of the project will end in five days and aims on raising $1,250,000 through the ICO.
Solice is another good project to explore for potential investment. It is the first cross platform virtual reality metaverse on the Solana blockchain. This gives the protocol the first mover advantage. The ICO of the project will end in six days and aims to raise $4,920,000. The project has already completed 89% of its fundraising goal.
Sideus Hero is a futuristic play-to-earn RPG game backed by the blockchain technology. The game is cited to be the product of one of the largest collaborations in the NFT space and it has many people waiting in anticipation. The token sale of the project will end in nine days and aims on raising $109,080,000.
Merit Circle is another metaverse-centric project currently in its ICO phase. The project is creating a DAO aimed at creating opportunities for people who want to contribute towards the development of the metaverse. The project’s ICO will end in a month and has received $110,000,000 up till now.
If you are thinking about investing in ICOs but need more time, then have a look at our list of some of the top upcoming ICOs in the market:
Arenum regards itself to be the evolution of blockchain-based gaming. The ecosystem is rich and is filled with multiple incentives both for the players and for developers. The project is based on one of the top blockchains in the market, Solana. The ICO of the project is expected to launch tomorrow.
Another good project to look into is Agoric. It is an open-source firm geared towards the development of an interoperable Proof-of-Stake chain accompanying an economy of its own. The token sale will launch tomorrow and the development team aims to raise $90,250,000 through the ICO.
Muon Network aims to power the metaverse economy be it through Web 2.0 or Web 3.0. It essentially provides Nodes-as-a-Service blockchain-based applications. The token sale is expected to launch before the end of the year. The project has set its fundraising goal at $2,940,000.
As the web 3.0 is expected to become the future of the internet, projects working towards its development are expected to pick up momentum. Deip is a project in its ICO phase focused on Web 3.0. It is a web 3.0 protocol which has tools applications for the new economy. The ICO is expected to launch in a few days.
Acura Network is a next-generation trading platform based on the blockchain of Polygon. It is aiming to facilitate Defi 2.0 through its futuristic features. The token sale is expected to launch before 2022 and the team has set up its fundraising goal at $1,160,000.
Here is a list of some of the ended projects that have ended:
- MeanFi is a trustless Web 3.0 banking application based on Mean Protocol. The project’s ICO ended on 27th December and raised $3,750,000
- pStake is a multichain liquidity staking protocol to maximize DeFi staking yields. The project managed to raise $20,000,000 through its ICO
- Izumi Finance is another liquidity protocol that offers up to 300% yields on Uniswap. The ICO raised $3,950,000 for the development of the project
- Astra Guild Ventures is a DAO aimed at investing in NFTs. The project’s ICO managed to raise $11,300,000
- UpOnly provides data-driven predictions to enhance yields in the crypto market. The project raised $160,000 through the ICO
Get your hands on some of the hottest airdrops currently going on
- Buy MIOTA tokens if you don’t already hold some
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