The cryptocurrency market appears to be reversing its steep downtrend as all major coins have shown minor positive movements. The global crypto market capitalization has also gained by nearly 5% and is currently standing at $1.68 trillion. The crypto market is currently full of good opportunities as the market is reversing its trend. In this newsletter, we will help you identify possible high-yield opportunities.
Highlights of the week
Here are the top developments that happened around the market:
- BTC has reversed some of its bearish momenta and has increased by 5% during the week, currently standing at $38,318. Ethereum is following suit and stands at $2,740
- Analysts at JP Morgan have stated that Bitcoin is unlikely to get institutional adoption as the digital gold is five times more volatile than gold while Ethereum is expected to face strong competition from other blockchains
- IMF is not a fan of cryptocurrencies and the lender of last resort has once again taken up its concerns that cryptocurrencies possess a huge threat to emerging markets to the media
- Another international development organization, UNICEF, has also raised its concerns regarding cryptocurrencies. Per UNICEF, the increasing adoption of cryptocurrencies calls for newer safeguards for children as vital services given to children depend on governments
- A Nobel-winning Economist Paul Krugman has regarded cryptocurrencies to be similar to the subprime mortgages that led to the global financial crisis of 2008
- The Bored Ape Yacht Club is one of the most popular NFT collections and holders now include Justin Bieber, Eminem, Jimmy Fallon, Mark Cuban, and other high-profile figures
- Coinbase has added the CEO of Shopify to its board of directors indicating the increasing convergence of crypto and mainstream businesses
- Visa’s crypto-linked credit cards recorded payments of $2.5 billion made in the first quarter of 2022 by customers
Top Weekly Gainers
There is not going to be a shortage of top performers in the cryptocurrency market any day of the week but we have chosen the top five coins with the most potential to watch out for. Take a look!
Maps (MAPS) is a popular decentralized protocol that works similar to Google maps but with the power of the blockchain technology. The cryptocurrency has made it to our top gainers’ list of the week as it surged upwards by nearly 167% during the past seven days. Maps is aiming to contribute all future revenues and 50% of its token supply to its community which has resulted in a huge boost of popularity. Currently, the token stands at a price level of $0.46 with an increase of 26% during the day.
Crypterium (CRPT) is another top gainer of the week as it surged upwards by 166%. The main product of the platform is its application which enables users to incorporate crypto into their daily lives. The Crypterium recently collaborated with Advcash to enable its users another channel through which they can top their crypto holdings in the application. The update may have been contributing to the surge of the token.
OpenDAO (SOS) created its SOS token to be airdropped to important stakeholders of the NFT industry in order to pay a tribute to them. The cryptocurrency grew by 161% during the week – making it to our list. The price has also increased by more than 10% during the day. The token has been increasing in popularity as the SOS token entered the top purchased tokens by 1000 biggest ETH whale wallets.
MimbleWimbleCoin (MWC) token has implemented the Mimble Wimble protocol. It has a provable supply cap of 20,000,000 making it a scarce token that also provides scalability, privacy, and fungibility. The cryptocurrency currently stands at a price level of $8.51 and has increased by 5% during the day while the weekly increase is at a staggering 153%.
ConstitutionDAO (PEOPLE) is a decentralized autonomous organization that was formed to try buying an original copy of the United States constitution. The cryptocurrency has increased by 143% during the week while the daily performance suggests growth of 22%. The PEOPLE token currently stands at $0.092.
Top Weekly Losers
Where on one hand the cryptocurrency market is filled with coins reaching towards the moon, we also have plenty of coins that are tumbling downwards. Here are the top five coins that have lost the most value in the weekly timeframe:
Upfiring (UFR) is the top loser in our list as its lost 63% of its value during the week; however, the downtrend of the token has been effectively reversed and it has gained back by more than 60% during the daily timeframe. Upfiring was created to present an alternative to the traditional peer-to-peer file-sharing mechanism.
Alitas (ALT) has been on a steady downtrend and has lost 58% of its value during the past week. The daily price movement further reinforces the downtrend of the token as it continues to lose value. Currently, the token stands at a price level of $11.02. The network has introduced new technologies and aims to become the underlying infrastructure for the new generation of networks.
Router Protocol (ROUTE) is another loser of the week as the token declined by 53%. However, the daily price action suggests a possible reversal of the downtrend which will turn the current time period to be an ideal buy time if the trend reversal materializes effectively. Currently, the token stands at a price level of $3.92 with a minor positive change during the day.
AstroSwap (ASTRO) fell brutally as January ended and lost 52% of its value during the week. However, the market corrections may have ended for the token as it gained by 34% during the day. AstroSwap is the first interstellar DEX and is built on top of Cardano. Currently, the cryptocurrency stands at a price level of $0.079.
GameZone (GZONE) is the final loser of the week and like most other losers, GZONE token is also showing signs of a trend reversal. The cryptocurrency has lost 37% of its value during the week but the bullish day in the market resulted in a gain back of 10% of its value. The token is currently trading hands at $0.16.
Hottest ICOs to Watch Out
The current bearish outlook of the crypto market cannot deter your crypto portfolio gains if you play smart. Investing in ICOs is one of the ways to do that. Here are some of the active projects that you should look into:
Stader Labs is a platform designed to maximize yields from the crypto market by enabling users to diversify their risk in an efficient and simple manner. It provides various financial products built on top of staked assets in just a single tap. The ICO of the project is expected to end during the current day and so far, it has raised $16,500,000 out of the total fundraising goal of $39,990,000.
As the metaverse realm has achieved new heights, upcoming projects in the segment possess good potential. LunaVerse is a new project to be launched soon that you may want to look into if you were looking for metaverse-based projects. LunaVerse is a metaverse built on the blockchain of Terra. The token sale of the project will end in six days and it has a fundraising goal of $3,100,000.
Anchor Protocol is another Terra-based project which appears to be good investment potential. The protocol essentially offers yields on the stablecoins based on Terra’s blockchain and since stablecoins are known for their stability, the yields are also said to be less volatile than what you usually find in the crypto market. The ICO of the project will end in 23 days.
Atlas DEX is a unique decentralized exchange. Apart from the usual functionalities of decentralized exchanges, it is also a cross-chain liquidity aggregator which ensures it will not suffer from the lack of liquidity that DEXs often face. It offers cross-chain swaps across Ethereum, Polygon, Binance smart Chain, and Solana. The token sale of the project will end in 24 days.
Brickken is a tokenization platform powered by blockchain technology. The platform allows a variety of products – including businesses and various assets – to be tokenized so that users can earn passive income through them. The token sale will end in a month’s time and the project has set its fundraising goal at $2,000,000.
While it is a good way to diversify your portfolio, ICOs are also high-risk investments so if you need time to think about the ideal projects, look into some of the upcoming projects.
Creaton is essentially a subscription-based platform for content creators but designed for the future of the internet. It is based on Web 3.0 and is regarded by the team to be the first of its kind. The platform truly empowers content creators. The token sale of the project is expected to begin on 7th February.
FuseFi is another highly-anticipated project and may turn out to be a good bet. The project is focused on the decentralized finance sphere and it aims to help the DeFi segment reach new heights by eliminating bottlenecks and enabling frictionless DeFi. The token sale will begin on the 18th of February.
ChainPort is working towards enabling interoperability in the blockchain market as the lack of interoperability is one of the pain points of the market. It is regarded as a next-generation bridge with high-level security and increased efficiency. The ICO of the project is expected to begin somewhere in February while the fundraising goal of the project is to raise $150,000.
Themis is a crypto lending project; however, what sets it apart is that it allows the lending of collateralized NFTs. Users can borrow, auction, lend and leverage through their NFTs and as the NFT market is growing at a high pace, Themis is tapping into a high-potential niche. The token sale is expected to begin in February with a date yet to be announced.
Muon Network is the final ICO of the week on our list. Muon is providing completely decentralized nodes as a service. Moreover, through its value proposition, it is working towards enabling the growth of the metaverse segment. The fundraising goal of the project is set at $2,940,000.
Here is a list of some of the ended projects that have ended:
- Ambire Wallet is the first non-custodial wallet with email authentication. The project managed to raise $180,000 through its token sale
- Unilab is working towards solving the problems that are faced during the development of smart contracts. The project did well in its ICO phase
- Lootex is a cross-chain NFT trading platform that managed to raise $9,400,000 through its token sale
- CyberTrade is a role-play-based game in the Binance Smart Chain ecosystem. The project raised $11,550,000
- ArtMeta is a metaverse that connects artists and galleries with collectors through its virtual world. The project raised $2,250,000
Get your hands on some of the hottest airdrops currently going on
BUSD Margined Futures Airdrop
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Enterprise Verification on Binance
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Candy Cash Airdrop
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