In this report:
- Week in Review - Elon Musk Pumps Dogecoin Amid Lawsuit
- Top 100 Gainers (7-days): Injective (INJ) +24% (7d)
- Small Cap Gainers (30-days): Block Commerce Protocol (BCP) +1,035% (30d)
- Monthly Altcoin Pick: The latest Altcoin Pick was released last week
What Happened This Week?
The top crypto stories this week:
- Elon Musk Pumps Dogecoin Amid Lawsuit: Elon Musk’s Twitter changes logo to Doge, pushing the memecoin up 20%.
- Paxful is shutting down: The last remaining global peer-to-peer exchange, Paxful is shutting down. This follows the closing of other well-known peer-to-peer exchanges including LocalBitcoins and LocalCryptos.
- Apple Hides the Bitcoin Whitepaper in their OS: Apple’s Mac devices have apparently been hiding Bitcoin’s whitepaper for the last five years.
What's Happening in April:
April is shaping up to be another very important month for crypto. Here are some key dates to keep in mind:
- April 12th - CPI Data for the US is released. This data will determine whether there will be another interest rate increase.
- April 12th - Ethereums Shanghai Update - This means that ETH stakers will be finally able to 'unstake' their ETH which may bring short-term $2.4B selling pressure to Eth, yet very bullish for ETH in the long-term.
- April 15th - Deadline for US citizens to file their Tax returns. Consider using CoinLedger to help simply your crypto tax returns.
- April 18th - The EU debates the MICA (Markets In Crypto Assets) Bill.
- April 28th - The BEA's PCE (Personal Consumption Expenditures) data is released.
The Crypto 'Fear and Greed index' is Greed - increasing to 64 from 61 (last week).
Crypto Market at a Glance:
Bitcoin & Ethereum Price Movement
Bitcoin has decreased 1.47% in the last week, currently trading at $27,924 (90-day high of $29,159). In the previous 90 days, Bitcoin has increased by 64.8%.
Ethereum has decreased 1.93% in the last week, currently trading at $1,858 (90-day high of $1,937). In the previous 90 days, Ethereum has increased by 47.1%.
Global cryptocurrency market capitalization continues to sit above the trillion dollar mark, sitting at $1.178T.
Digital Asset Newsletter
If you are interested in learning about investing in digital assets, consider checking out Richard Patey's free newsletter where he breaks down some of the most interesting digital asset news stories and opportunities, from content sites, newsletters, NFTs, and more.
Top 100 Gainers - Last 7 Days
Over the last 7 days, the biggest gainers (within the top 100):
Injective (INJ) +24.01% - Ranked #90
Injective is an open, interoperable layer-one blockchain for building powerful DeFi applications. Injective uniquely provides plug-and-play financial infrastructure primitives, such as a high-performance on-chain decentralized exchange infrastructure, decentralized bridges, oracles, and a composable smart contract layer with CosmWasm.
Injective’s core exchange module provides state-of-the-art capabilities including an advanced on-chain order book and matching engine for spot, perpetual, futures and options markets, resistance to Miner-Extractable Value (MEV) through frequent batch auction order matching, and zero gas fees for users.
Injective is built with the Cosmos SDK and leverages a Tendermint-based Proof-of-Stake consensus mechanism, which allows it to achieve instant transaction finality while sustaining lightning-fast speeds (10,000+ TPS).
Enjin Coin (ENJ) +20.3% - Ranked #86
Enjin Coin is a project of Enjin, a company that provides an ecosystem of interconnected, blockchain-based gaming products. Enjin's flagship offering is the Enjin Network, a social gaming platform through which users can create websites and clans, chat, and host virtual item stores.
Enjin allows game developers to tokenize in-game items on the Ethereum blockchain. It uses Enjin Coin, an ERC-20 token, to back the digital assets issued using its platform, meaning that items can be bought, sold and traded with real-world value.
Enjin Coin was first announced in July 2017, and it launched on the Ethereum mainnet in June 2018.
Basic Attention Token (BAT) +12.06% - Ranked #93
Basic Attention Token, or BAT, is the token that powers a new blockchain-based digital advertising platform designed to fairly reward users for their attention while providing advertisers with a better return on their ad spend.
The BAT experience is delivered through the Brave Browser, where users can watch privacy-preserving adverts and receive BAT rewards for doing so.
The Basic Attention Token itself is the unit of reward in this advertising ecosystem, and is exchanged between advertisers, publishers and users. Advertisers pay for their advertising campaigns in BAT tokens. Out of this budget, a small portion is distributed to advertisers, while 70% is distributed to users.
Klayton (KLAY) +9.2% - Ranked #63
Klaytn is a public blockchain focused on the metaverse, gamefi, and the creator economy. Officially launched in June 2019, it is the dominant blockchain platform in South Korea and is currently undergoing global business expansion from its international base in Singapore.
These business expansion activities are supported by the Klaytn Growth Fund, which aims to grow the ecosystem built on Klaytn. The fund is managed and disbursed by Klaytn Foundation, a Singapore-based non-profit organization established in August 2021.
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 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 Cryptos in a Single Wallet.
Biggest Small Cap Gainers in the last 30 days
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.
The best-performing cryptocurrency projects fall within the nano & micro-cap projects.
Best Performing Small Cap projects (30 days):
- BCP +1,035% - Social Media Content Platform (Nano-Cap)
- OFI +847% - DeFi on the Bitcoin Blockchain (Nano-Cap)
- ELFI +323% - Global Real Estate Platform (Nano-Cap)
- RXD +291% - Highly Scalable Layer-1 Blockchain (Micro-Cap)
- TABOO +181% - Adult NFT & Streaming Platform (Micro-Cap)
Monthly Altcoin Pick:
We released our latest Altcoin pick last week. If you would like access to this and prior Altcoin Picks, please consider becoming a member. Altcoin picks are emailed to members as soon as they are published.
Our Altcoin Picks for the prior months can be found here.
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Thanks and appreciation to all our members!
Until the next report,