Table of Contents
Welcome to the Weekend Altcoin Report.
In this Edition:
- Market Recap for the week
- Top 10 Ranking
- 5 Biggest Gainers this Week (Top 100)
- Top Small-Cap
- Top Micro-Cap
- Top Nano-Cap
- Top Altcoin Picks & Shortlist
Market Recap:
Just over a week ago, both Bitcoin and Ethereum reached new all-time highs, $68,789 and $4,859 respectively. However, for much of the last week the market has been in the red with Bitcoin hitting a low of $55,985 on Thursday and recovering only slightly over the past few days.
The price of Bitcoin is currently sitting at $59,256
Total market capitalization is $2.654T, down from $2.87T last week.
Market Outlook:
We anticipate further market consolidation taking place over the upcoming weeks but still see very healthy growth within the low-cap crypto market. This market consolidation offers a good opportunity to identify solid projects as they move independently against the downward market pressure - See small-cap picks (below).
For a non-mainstream perspective on the decline of the price of Bitcoin, read this article:
Top 10 Ranking:
The ranking of the top 10 cryptocurrencies (by market cap) has remained (interestingly) the same since last week with similiar losses across the top 10 ranked cryptos.
As can be seen in this image, all cryptos over the last week within the top 10 ranking have lost market value; except the stable coins (USDT & USDC). This is quite common as the price movement of Bitcoin is by far, the biggest influencer on Altcoin prices.
5 Biggest Gainers this Week (Top 100)
The biggest gainers this week within the top 100 (by market cap):
Both Gala and The Sandbox made the "5 biggest Gainers" list this week. Both of these projects were identified in a post we published earlier. You can read more here:
Gala is up 313% this week and is a Play-to-Earn gaming platform launched in 2019 and already has many successful games developed. We see this project continuing to do well in the short term and continuing to move against the downward market pressures.
The Sandbox is up 45% this week. It was launched in 2011 and is a a DAO metaverse we also see continuing to perform very well in this downward market.
Oasis Networks is up 77% this week. It is a privacy-enabled blockchain platform. Privacy and especially, the privacy of cryptocurrency transactions will continue to be an important theme in the upcoming years. We have seen many privacy-related projects perform well in the last month and believe this trend to continue.
Immutable X is up 38% this week and is a (much needed) scaling solution for NFTs on the Ethereum blockchain.
Crypto.com is up 69% this week. It is a cryptocurrency trading platform with its own token. It can be compared to Binance and the BNB token. A unique feature of this trading platform is that it also natively supports NFTs.
The Small-Cap Market Breakdown
The small-cap market is where all the action takes place. We have broken down the small-cap crypto market into the following subcategories:
- Small-Cap: $100M-$1B
- Micro-Cap: $10M-$100M
- Nano-Cap: $1M-$10M
Top Small-Cap
MixMarvel (MIX)
In the last 30 days, the token price has increased by over 369% and in the last week increased by 58% - Impressive considering the current downward market pressure.
MixMarvel is building a blockchain-based game-publishing platform and will likely become a premier gaming platform in the very near future. With a market cap of over $150 million (just entering the smal-cap market) and already a solid assortment of excellent play-to-earn games, it is easy to see this project make its way to the top 100 ranking.
This project is currently ranked #374 and has a token price of just $0.03
Links: Website | CoinMarketCap
Top Micro-Cap
Epik Prime (EPIK)
Epik Prime is another excellent project seemingly unhampered by the downward market pressure with over 470% increase in price over the last 30 days. In the last week, the token has increased by more than 69%.
Epik Prime is a NFT licensing company helping to put brands into video games, very similiar in the way that brands are licensed in movies - which happens to be a huge market. Some of their clients include Warner Music, Tencent and Universal.
As we continue to see the gaming industry grow, so will the need for licensing and this company is the leader in this field.
Currently ranked #2801 with a market cap of $81 million and price of $0.6791, we see a lot of growth in both this project and the industry it caters too.
Links: Website | CoinMarketCap
Top Nano-Cap
Decentral Games (ICE)
Based within the metaverse Decentraland (Mana), Decentral offers Decentraland gamers the ability to play games within its metaverse. It can be thought of a game within a game (or like the movie inception). We are big fans of Decentraland (it is a premier crypto metaverses) and this project is offering gaming within this metaverse.
While the success of Decentral Games will to a large extend be dependant on the success of Decentraland, we see this metaverse over the long-term perform very well.
The market cap for Denctral games is $8.1 million and the token price is currently $0.1218
Links: Website | CoinMarketCap
Top Altcoin Picks & Shortlist
We are changing the way we provide information to our members. In an attempt to provide more value and greater transparency to our valued members, we will be publishing weekly reports on new and upcoming Play-to-Earn projects as we identify them.
The list can be found here:
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Until next week, trade strong and be legendary.
Richard
