Table of Contents
In this report:
- The Markets: Why is the Crypto Market Crashing?
- Top 100 Gainers: SEI (SEI) +1,971% (7d)
- Micro-Cap Gainers (30-days): PAAL AI (PAAL) +66,769% (30d)
- Monthly Altcoin Pick: Altcoin Pick will be released at the end of August
Why is the Crypto Market Crashing?
In the last week, Bitcoin is down 11%, Ethereum down 9%, the Fear and Greed Index has moved to a state of Fear (39) and it's red across the board...
What's happening to the crypto market?
It started with the news that China's Evergrande filed for bankruptcy and then shortly after, an article that sent the market further down, published by the Wall Street Journal, stated that SpaceX had sold all of their $373 million dollars worth of Bitcoin.
If that wasn't bad enough, the drop in the price of Bitcoin caused a liquidation of over $1 billion worth of leveraged positions, the biggest liquidation so far this year.
According to CoinGlass data, a total of 176,752 traders got liquidated.
...And that's all within the last 24 hours!
But don't let this type of news scare you...unless you are a day trader.
The Emotional Landscape of the Crypto Markets
In a recent article, I discuss the emotional landscape of the crypto markets, where I talk about the Bandwagon Effect and the Ripple Effect of Collective Emotion - something only made possible with the almost instantaneous speed of news over the internet.
If you would have followed the news that the crypto market is crashing, then you would have also likely missed the news of some of the greatest gains that happened this week.
Some of the Greatest Crypto Gains Happened This Week!
While the masses are worried about whether Elon sold all his Bitcoin or not, some of the biggest gains also happened in the crypto market this week.
Sei (SEI) just recently listed, is now ranked in the top 100 and saw gains of over 3000% over the past few days.
And a micro-cap, AI Chatbot project called PAAL gained +66,769% in the last 30 days.
These two projects may be anomalies in an otherwise sea of red, however during a bull run, these types of gains are commonplace in the micro-caps.
A massive bull run is coming and is timed to the Bitcoin halving cycle (April 2024). Most will miss it, but hopefully, you won't.
During the run-up to the next bull run, we are accumulating and if you want to follow us to see what we are buying, you'll need to become a member.
Join Us - As We Accumulate
At the end of August, we will release our latest Altcoin pick. If you would like to know what we are buying, you are more than welcome to join us as we share our monthly Altcoin picks in preparation for the next bull run - You just need to become a member.
Crypto Market at a Glance (7D):
Crypto Fear & Greed Index:
Today's Crypto Fear and Greed index = Fear – Decreased to 39 (from 54 last week).
The cryptocurrency markets are influenced heavily by human emotions. Fear and greed, two primal emotions, play pivotal roles in shaping the decisions of investors which is why it's important to read this article, to better understand the emotional landscape of the crypto markets and how to safeguard yourself and your crypto investments from it.
Bitcoin & Ethereum Price Movement
Bitcoin has decreased 11.4% in the last week, currently trading at $26,065. In the previous 90 days, Bitcoin has decreased by 3.91%.
Ethereum has decreased 9.92% in the last week, currently trading at $1,666. In the previous 90 days, Ethereum has decreased by 8.78%.
Global cryptocurrency market capitalization has decreased from $1.17T to $1.05T in the last week.
Top 100 Gainers - Last 7 Days
Over the last 7 days, the biggest gainers (within the top 100):
SEI (SEI) +1,971% - Ranked #99
Sei is a Layer 1 blockchain designed to foster the widespread adoption of digital assets.
Touted as the industry's fastest blockchain, Sei offers transaction speeds of 380ms and can handle 20,000 orders per second. Its infrastructure is characterized by unparalleled speed, robust security backed by major institutions, and user-centric features.
Sei is open-source, emphasizes interoperability, and is environmentally conscious, leveraging proof of stake to minimize its carbon footprint. The platform has garnered attention from various news outlets and is trusted by several projects and institutions in the crypto space.
After its launch on major exchanges recently, SEI, quickly gained momentum, and shortly following its launch, the SEI token reached CoinMarketCap's top 100 coins - making an impressive +3,000% increase in its value soon after listing.
THORChain (RUNE) +24.0% - Ranked #91
THORChain (RUNE) is a decentralized protocol that enables the exchange of cryptocurrencies across different blockchains. It uses liquidity pools and nodes to facilitate direct swaps without relying on intermediaries.
The protocol's key features include cross-chain compatibility, liquidity pools, no order books, a node network, and the native RUNE token for governance and transactions. THORChain aims to provide secure and decentralized cross-chain trading while minimizing reliance on centralized exchanges.
Akash Network (AKT) +24.7% - Ranked #93
Akash Network is a decentralized cloud computing platform that leverages blockchain technology to offer an open-source marketplace for cloud services.
The marketplace promotes competition, leading to reduced costs and enhanced efficiency. Users can lease out unused computing capacities, and the platform's native AKT token ensures transactional security and integrity.
Built on the Cosmos SDK, Akash Network supports interoperability with other blockchains and emphasizes environmental sustainability through its Proof-of-Stake consensus mechanism. The AKT token plays a central role in network operations and community incentives.
Hedera (HBAR) +4.3% - Ranked #30
Hedera Hashgraph (HBAR) is a decentralized public network designed for building secure and fair applications with near-instant consensus.
It is governed by a council of global entities, including giants like Google and IBM, Hedera offers a unique consensus service that creates a verifiable log of messages. The native cryptocurrency of the Hedera network is HBAR, which plays a pivotal role in securing
Biggest Micro-Cap Gainers in the last 30 days
Every week we review and analyze small and micro market cap cryptos looking for the next low-cap gem. These are the best-performing (quality) micro-cap projects over the last 30 days:
Best Performing Quality Micro Caps (Last 30 days):
- PAAL +66,769% - AI Chatbots (Micro-Cap)
- MBD +822% - AI NFT Aggregator & Marketplace (Nano-Cap)
- TARA +671% - Web3, Smart Contract utilizing blockDAG (Micro-Cap)
- PLU +548% - Secure, Scalable Oracle on XDC network (Nano-Cap)
- MEVFREE +524% - Crypto Trading Tools (Micro-Cap)
Monthly Altcoin Pick:
The next Altcoin pick will be released at the end of August. If you would like access to this and future Altcoin picks, consider becoming a member.
Altcoin picks are emailed to members as soon as they are published. If you are wondering how we choose our monthly Altcoin Picks - this is the methodology we use.
Our Altcoin Picks for the prior months can be found here.
Thanks and appreciation to all our members!
Until the next report,