In this report:
- The Week in Review - Genesis, crypto lender files for bankruptcy
- Top 100 Gainers (Last 7-days): Aptos +58%
- Small Cap Gainers (Last 30-days): Tap +3,805%
- Monthly Altcoin Pick - Altcoin Pick to be released at the end of the month
What's Happened This Week?
The top stories this week:
- Genesis, crypto lender files for bankruptcy
- FTX's New CEO says there is a possibility of a restart
- CoinDesk is looking to sell
Crypto Market at a Glance:
Bitcoin & Ethereum Price Movement
In the last week, we have seen a significant recovery in the crypto market. Bitcoin is up +10% ($22,859) and Ethereum is up +6.6% ($1,630) over the last 7 days.
Over the last 60 days, Bitcoin is up +40% and Ethereum +43%.
The recent crypto market gains we have seen over the last few weeks are attributed to the positive macroeconomic factors that hint at a slowdown in inflation and consequently, the influence of the Federal Reserve monetary policy. Notably, the current momentum emerged following the positive jobs data for December 2022.
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Top 100 Gainers - Last 7 Days
Over the last 7 days, the biggest gainers (within the top 100):
Aptos (APT) +59% - Ranked #32
Aptos is a new, Layer 1 Proof-of-Stake (PoS) blockchain project focused on delivering the safest and most production-ready Layer 1 blockchain in the world. The team includes the original creators, researchers, designers, and builders of Diem, the blockchain that was first built to serve this purpose.
The PoS blockchain can achieve a theoretical transaction throughput of over 150,000 transactions per second (tps) through parallel execution. The cause for the doubling in price over the last week of Aptos is not yet known.
Aptos made a huge splash when it debuted in October 2022. Since then, developers have been busy building out the various facets of the chain’s ecosystem, including Non-Fungible Tokens (NFTs).
Frax Shares (FXS) +52% - Ranked #59
The Frax Protocol is the first fractional-algorithmic stablecoin system. Frax is open-source, permissionless, and entirely on-chain – currently implemented on Ethereum (with possible cross-chain implementations in the future). The end goal of the Frax protocol is to provide highly scalable, decentralized, algorithmic money in place of fixed-supply digital assets like BTC.
Hedera (HBAR) +40% - Ranked #35
Hedera (HBAR) is the native cryptocurrency of Hedera Hashgraph, a platform that is positioned as an alternative to traditional blockchain technology and aims to excel in speed, efficiency and security. The goal of Hedera’s hashgraph is to increase the speed of transactions. Moreover, the network is also focused on high-volume operations: micropayments, data integrity and tokenization.
According to Santiment, there was a dramatic increase in Hedera’s volume on 20 January as share prices shot up. When HBAR volume was compared to other altcoins on the chart, it showed a 30% rise.
Optimism (OP) +34% - Ranked #75
Optimism (OP) is a layer-two blockchain on top of Ethereum. Optimism is one of the biggest scaling solutions for Ethereum with over $500 million in TVL. It is home to 97 protocols, the biggest being Synthetix (SNX), a derivatives exchange, Uniswap (UNI), a DEX, and Velodrome (VELO), an AMM.
With a TVL of $1.2 billion and a market share of 63%, Arbitrum has led the L2 space at press time. The recent major upgrades to Optimism are believed attributed to the reason for the recent increase in value.
Are You Using a Hardware Wallet?
If you own crypto, you need a hardware wallet. Period. Hardware wallets (also known as cold storage) are the best devices to keep your crypto investments safe and under your personal custody.
My favorite hardware wallet is Trezor and own both the Model T and One. The Trezor suite also offers the ability to exchange cryptocurrencies within your portfolio without the need for any KYC, helping to keep you and your transactions safe and anonymous.
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 +3,805% - Crypto/Fiat Mobile Wallet (Micro-Cap)
- VAI +374% - AI Assistant and on-chain Intelligent Contracts (Nano-Cap)
- LCX +224% - A Multi-Exchange Crypto Trading Platform (Micro-Cap)
- ES +424% - DAO Swap exchange (Web3) (Micro-Cap)
- FLEX +397% - Crypto Exchange (Micro-Cap)
- TABOO + 297% - Token for the adult entertainment industry (Micro-Cap)
- METAV +682% - Metaverse project (Nano-Cap)
- AIRI +539% - NFT authentication using AI (Nano-Cap)
VAI makes the list (4th week in a row) with +374% (30 days)!
Best Performing Altcoin - Tap (XTP)
For the second week in a row, Tap has made the list. Tap is a downloadable mobile app that functions as a financial platform "Built for you", allowing users to trade on the go. It is regulated in EU/EEA for fiat under an E-Money license.
This micro-cap project currently has a market cap of $52 million and the token is currently trading at $0.013.
The Small Cap Market
The small-cap market is where you will find the next big trends and developments within the crypto space. We predict the trending projects for 2023 to include these sectors: AI, DeFi, and Web 3.0.
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 will be releasing our Altcoin pick for January at the end of this 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,