Table of Contents
Welcome to the Weekend Altcoin Report.
In this Edition:
- Market Recap for the week
- Top 10 Ranking
- Biggest Movers this Week (Top 100)
- Top Small-Cap Movers
- Top Micro-Cap Movers
- Top Nano-Cap Movers
- Top Crypto Gaming Projects
- October's Altcoin Pick
Market Recap:
On Friday, Bitcoin passed the $60,000 barrier for the first time since April, which marked its all-time high of $64,863 (from six months ago).
While many major US-centric news sources attribute the rise due to the market sentiment of the SEC approving the first US Bitcoin futures ETF to begin trading next week, very little attribution has been made of the impact of countrywide adoption and use of BTC in El Salvador (and now potentially Brazil).
BTC has increased over 28% in the last month, from a low of $48,708 to a high of $62,626 (just a few days ago). This rapid increase in the price will likely lead to a retracement in the coming days before continuing its upward trend.
It's rather entertaining to hear analysts and asset fund managers (such as Cathie Wood from ARK investment) speculate that BTC can reach a price of $US500,000.
While the price point of $500K is extraordinary, most individuals and investors have their eye on BTC reaching the $100k mark; potentially within the year.
BTC is currently trading at $59,810
Market capitalization is now at $2.41T, up from $2.32T last week.
Top 10 Ranking:
This week Binance takes third place (up one position) with an increase of over 13%, pushing Cardano to third position. While Polkadot increased over 16%, it wasn't enough to beat out Solana for seventh position. The rankings for the other Alts remained the same.
With Binance taking the third position, it's also worth mentioning Binance is only four years old. Four years ago, the Binance coin started trading under $0.10. Today, it's trading over $463. According to CoinMarketCap, the ROI of Binance is in excess of 403,262%
5 Biggest Gainers this Week (Top 100)
These are the biggest gainers this week within the top 100 (by market cap):
Binance Coin and Polkadot make the list for the biggest gainers this week, both already mentioned in the Top 10 Ranking section of this report.
Of notable mention is NuCypher (NU) which made an extraordinary 401% increase in the last week. The company started in 2015 by providing secure transactions within the cloud but pivoted into the cryptocurrency space in 2017, focusing on smart contracts. The NuCypher platform was officially launched in October 2020 and only in the last week has its market price really started to take off.
While the price will likely retrace considerably from the massive gains seen this week, it's one of the few projects which offers a security layer for blockchain transactions and a project I am keeping my eyes on. It is currently ranked at #98.
Top Small-Cap Mover
Cryptocurrency projects which fall into this category have a market capitalization of between $100 million to $1 billion. At any given time there are around 200 projects which fall into this category.
This is the top project we are paying attention to in this market category:
WOO Network (WOO) @ $1.16 +86% (30 days) - #123 - Small
WOO is a trading platform (similar to Binance) that has its own token and an excellent team supporting its development. WOO Network was founded by Kronos Research, a multi-strategy trading firm that specializes in market making, arbitrage, CTA, and high-frequency trading (HFT), averaging $5-10 billion of daily trading volume on global cryptocurrency exchanges.
In February of this year, WOO was trading at $0.03. Today it's at $1.16. In the last 30 days, this token has increased in price by 86%. This is a project which has the potential to reach the Top 50 within the short term.
Market Capitalization: $608 million
WOO is ranked at #123
Links: Website | CoinMarketCap
Top Micro-Cap Mover
Cryptocurrency projects which fall into this category have a market capitalization of between $10 million to $100 million dollars. At any given time there are between 500 to 700 projects which fall into this category.
This is the top project we are paying attention to in this market category:
MILC Platform (MILC) @ $0.34 +408% (30 days) - #730
MILC is an acronym for Medial Industry Licensing Content. This project aims to bring licensing and distribution of online media and content to the blockchain. As stated on their website, the MILC Project will solve four fundamentally important challenges of the global media industry:
- Global availability of all Video Content
- Discovery Process for Buyers
- Complex licensing for the entire industry
- Early feedback from its audience.
And for the first time, MILC will build a bridge between the audience and the content creators, buyers, and distributors. This connection will allow the audience to directly impact and receive benefits from the creation & distribution of quality new content.
MILC has been developed by Welt der Wunder, a media brand with 25 years of experience in the business. $MLT will be the fuel of the platform serving as a payment medium, proof of license contract, fundraising vehicle and community reward.
In just the last month, this token has started to gain massive interest in the community.
With all the content being generated online and no modern method for content licensing, this project can easily grow and mature to a top 100 ranked cryptocurrency.
Market Capitalization: $26.9 million
MILC is ranked at #730
Links: Website | CoinMarketCap
Top Nano-Cap Mover
The cryptocurrency projects which fall into the Nano-Cap category have a market capitalization of between $1 million to $10 million. At any given time there are between 800 to 1,000 projects which fall into this category.
This is the top project we are paying attention to in this market category:
Eurocoin Token (ECTC) @ $0.45 +775% (30 days) - #1792
A project co-financed by the European Union and the Government of Spain, Eurocoin is a Spanish language initiative to bring cryptocurrency use to bricks and mortar retailers, initially within the Spanish-speaking market within Euro and potentially South America.
While the team is still quite small and the project relatively new, there is potential for this project well within the Spanish marketplace.
Market Capitalization: $2.2 million
ECTE is ranked at #1792
Top Crypto-Gaming Projects
We anticipate Crypto-Gaming to become one of the fastest-growing niche markets within the crypto space with extraordinary growth potential. As we continue to research and analyze this market, here are a few projects we are currently looking at:
Splinterlands (SPS) @ $0.86 +216% (30 days) - #382
SMALL CAP
A still affordable battle card game available on both the desktop and mobile has increasingly been gaining popularity over the years. Sharing many aspects of Axie Infinity, this battle card game still has much room to grow.
Market Capitalization: $131 million
SPS is ranked at #382
Vulcan Forged (PVR) @ $10.06 +197% (30 days) - #293
SMALL CAP
A platform that supports blockchain games and dApps, users are able to build, collaborate and earn on this platform. With an increasing number of games hosted on this platform, it has the potential to continue to be one of the fastest-growing gaming platforms.
Market Capitalization: $189 million
PVR is ranked at #293
Links: Website | CoinMarketCap
Cake Monster (MONSTA) @ $0.01 +602% (30 days) - #2,884
MICRO CAP
Cake Monster is a meme coin based on the Binance smart chain. It is built to be hyper-deflationary through the use of a tax (2.5%) per transaction that is burnt. The application of this tax is a novel approach and supported by a unique reserve and reward model featuring an automated hybrid monetary policy. With its excellent marketing and game appeal, this project is forecast to continue to do very well. As a micro-cap, there is still much room to grow.
In the last month, the gains have been spectacular.
Market Capitalization: $98 million
MONSTA is ranked at #2,884
Links: Website | CoinMarketCap
Altcoin Pick for October
Our Altcoin pick for October was announced at the beginning of October.
Members can get access to the October Altcoin pick here
As mentioned in the last Altcoin Report, we will be focusing much of our attention on Play-to-Earn gaming projects as well as the platforms and ecosystems that support them.
We feel the move from online gaming to crypto gaming will be one of the largest market shifts to be seen and a market niche that will offer extraordinary returns for early investors. More details on this in the upcoming weeks...
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Richard
