Table of Contents
In this report:
- Week in Review - Cathie Wood says Bitcoin is going to $1M
- Top 100 Gainers (7-days): Render Token +77%
- Small Cap Gainers (30-days): Tap +4,868% (4th week in a row)
- Upcoming Crypto Gem: Big Data Protocol (BDP)
- Monthly Altcoin Pick - Altcoin Pick for January is now available
What's Happened This Week?
The top stories this week:
- BTC to $1M: Ark's Cathie Wood says Bitcoin is going to $1M.
- BTC - Best January in a decade: The price of Bitcoin rose nearly 40% in January, marking the best January performance in over a decade.
- LBRY Wins Against SEC: LBRY Credits token price explodes as SEC loses appeal against the company.
- FEDS Raise Interest Rates: Feds Raise interest rates (0.25%) in the smallest hike since March, helping to fuel the crypto market.
- Coinbase Stock rose +70% in January: Coinbase recorded its strongest month in history in January
The Time is Now to Make Millions in Crypto:
Back in September of 2022, I wrote an article titled "Bitcoin price prediction 2022"
In this article, I mentioned the lowest price for Bitcoin during the year will be at the end of the year (December) and priced between $10k-$20k...
As it so happened, the lowest price for Bitcoin during the year was $15,599.05 in mid-December 2022.
How Did I Know?
I looked at a pattern that has repeated itself time and time again since the beginning of Bitcoin. And although there is still a chance the price of Bitcoin could temporarily dip again, the market is now shifting into what investors call the accumulation phase of the market.
It's during this time (over the next 6-12 months) you should be accumulating crypto assets.
If you haven't yet read this article, you should:
Richard Knight
Crypto Market at a Glance:
Bitcoin & Ethereum Price Movement
Bitcoin price continues to rise for the third straight week, currently trading at $23,340 (90-day high of $24,167).
Ethereum is currently trading at $1,704.46 shadowing the price movements of BTC (90-day high of $1,704).
Global cryptocurrency market capitalization continues above the trillion dollar level, sitting at $1.080T.
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Top 100 Gainers - Last 7 Days
Over the last 7 days, the biggest gainers (within the top 100):
Render Token (RNDR) +77.5% - Ranked #93
RenderToken (RNDR) is a distributed GPU rendering network built on top of the Ethereum blockchain, aiming to connect artists and studios in need of GPU computing power with mining partners willing to rent their GPU capabilities out.
Immutable X (IMX) +37.5% - Ranked #62
Immutable X is the first layer-two scaling solution for NFTs on Ethereum. According to Immutable X, its blockchain does away with Ethereum’s limitations like low scalability, poor user experience, illiquidity, and a slow developer experience.
Instead, users benefit from instant trading and massive scalability while enjoying zero gas fees for minting and trading NFTs without compromising a user or asset security. To achieve that, Immutable X is built with STARK zk-rollups, a technology that Vitalik Buterin considers Ethereum to be “all-in on.”
GMX (GMX) +33.8% - Ranked #39
GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades. Trading is supported by a unique multi-asset pool that earns liquidity providers fees from market making, swap fees, leverage trading (spreads, funding fees & liquidations) and asset rebalancing.
Fantom (FTM) +33.8% - Ranked #62
Fantom is a Layer-1 blockchain that uses a scratch-built consensus mechanism and independent consensus layer, Lachesis, to facilitate DeFi and related services on the basis of smart contracts. Lachesis provides security for other layers as well, including Opera, Fantom's EVM-compatible smart contract chain.
Do You Own a Hardware Wallet?
If you own crypto, you need a hardware wallet. Period. Hardware wallets (also known as cold storage devices) are the best physical devices to keep your crypto investments safe and under your personal custody.
Ledger supports more cryptocurrencies than any other wallet on the market. This means if you have a portfolio with a bunch of exotic altcoins (especially small-caps), then Ledger is the best wallet to keep your portfolio secure. Store 1,000+ different cryptos in a ledger hardware wallet.
Biggest Small Cap Gainers in the last 30 days
The greatest gains within the cryptocurrency market are within the nano, micro & small market capitalized projects.
Best Performing Small Cap projects over the last 30 days:
- XTP +4,868% - Crypto/Fiat Mobile Wallet (Micro-Cap)
- DAFI +1,677% - Network rewards to build a decent economy (Micro-Cap)
- FLEX +1,433% - Crypto Yield/Exchange (Micro-Cap)
- OJA +1,288% - Brand Intelligence For The Web3 (Nano-Cap)
- BDP +1,197% - DeFi protocol to source & tokenize data (Nano-Cap)
- AIRI +629% - NFT authentication using AI (Nano-Cap)
It should be noted the bulk of the biggest gainers in the last 30 days (above) have been within the DeFi, AI, and Web3 space.
Upcoming Gem:
Big Data Protocol (BDP)
This micro-cap gem has tremendous potential.
Just launched (February 3rd), Big data protocol is a (DeFi) protocol to source commercially valuable data from professional data providers, tokenize it, and make it liquid. This is currently an untapped market and combined with AI technology, tokenizing data and then allowing it to be sold on the blockchain is an entirely new concept with massive commercial market potential.
BDP is currently trading at $0.2266 with a market cap of just over $10 million and a max supply of 80M tokens (circulating supply 49M).
Trending Sectors for 2023
We believe projects within these three sectors have the greatest growth potential in 2023:
Every week we review and analyze low-market-cap cryptos looking for the next low-cap gem and every month we research the cryptocurrency marketplace for the next successful cryptocurrency project and announce it to our subscribers as our Monthly Altcoin Pick.
To get access to our past and upcoming Altcoin picks, be sure to signup as a paid subscriber.
Monthly Altcoin Pick:
We released our Altcoin pick for January at the end of the month. If you would like access to this and prior Altcoin Picks, please consider becoming a member.
Our Altcoin Picks for the prior months can be found here.
If you would like to support this publication and have access to member benefits, such as our monthly Altcoin Pick, signup here.
Thanks and appreciation to all our members!
Until the next report,
Richard
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