In this report:
- New Project: What Crypto is the Emirati Royal Family Buying?
- Top 100 Gainers: Bone ShibaSwap (BONE) +20% (7D)
- Micro-Cap Gainers (30-days): DONUT (Reddit Community) +1,337% (30d)
- Monthly Altcoin Pick: Altcoin Pick will be released next week
Crypto News this Week:
A Gem of a Project
I have been following this project for a while and have decided to share it with my readers as they are having their public launch next week and it's a project which I believe has tremendous growth potential.
What Crypto is the Emirati Royal Family Buying?
Islam is the world’s second-largest religious group and as of 2020, Islam makes up around 24.7% of the world population, with 1.9 billion followers. However, Muslims must only engage in Halal activities and financial activities according to Sharia law.
This has for a large part excluded many in the Muslim community from investing in cryptocurrency, until now.
On September 1st, Islamic Coin will be publically released. It is a cryptocurrency approved by the Sharia Board and considered to be 100% Halal - the first ever Shariah-compliant Digital Money and it is the Emirati royal family (the ruling families of the seven emirates that make up the United Arab Emirates (UAE)) who are backing this project.
While the release of this new token hasn't garnered much media attention in the West, it's huge news for the Muslim community. The project already has over $400 million in backing including many global partnerships.
The coin projects that if only 5% of the Muslim community participates in this project, the project would exceed a trillion-dollar market cap.
With the backing of the Emirate Royal Family, I believe this is a project with a tremendous amount of growth potential and I personally will be looking into buying some of these coins for my own portfolio once it's made available.
This is not sponsored.
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Crypto Market at a Glance (7D):
Crypto Fear & Greed Index:
Today's Crypto Fear and Greed index = Fear – Decreased to 38 (from 39 last week).
The crypto fear and greed index is determined by human emotions - Fear and greed. These two primal emotions, play pivotal roles in shaping investors' decisions.
Learn more about the emotional landscape of the crypto markets when it comes to fear and greed and how to safeguard yourself and your crypto investments from it.
Bitcoin & Ethereum Price Movement
Bitcoin has increased 0.36% in the last week, currently trading at $26,054. In the previous 90 days, Bitcoin has decreased by 2.06%.
Ethereum has decreased 0.4% in the last week, currently trading at $1,652. In the previous 90 days, Ethereum has decreased by 9.26%.
Global cryptocurrency market capitalization has remained the same over the last week at $1.05T.
Top 100 Gainers - Last 7 Days
Over the last 7 days, the biggest gainers (within the top 100):
Bone ShibaSwap (BONE) +20% - Ranked #96
Bone ShibaSwap (BONE) is a governance token in the ShibaSwap ecosystem, allowing Shib Army members to vote on Doggy DAO proposals. It also supports Shibarium, a layer-2 Ethereum blockchain tailored for Shiba Inu. ShibaSwap, a decentralized exchange on Ethereum, was developed by an anonymous entity named Ryoshi.
The platform emphasizes security for token trading and rewards, especially for liquidity providers. The three main tokens in the ecosystem are SHIB, LEASH, and BONE, with BONE being pivotal for governance and Shibarium operations.
Toncoin (TON) +8.8% - Ranked #14
TON (The Open Network) was a decentralized blockchain technology initially developed by the Telegram team, and spearheaded by Nikolai and Pavel Durov. Telegram withdrew from TON in May 2020 due to legal issues with the US Securities and Exchange Commission.
The project aimed to promote widespread cryptocurrency adoption and was envisioned as a platform for decentralized apps. To fund its development, Telegram initiated a private offering of its cryptocurrency, "Gram." However, legal disputes with the SEC halted its distribution. After Telegram's exit, other projects, like "Free TON," continued the development using the open-source code, introducing the "TON Crystal" token.
Sui (SUI) +6.4% - Ranked #77
Sui (SUI) is a user-friendly, permissionless layer 1 blockchain. It uses objects for data storage instead of accounts, with some objects having sole or shared ownership. Sui offers features like dynamic fields, unbiased random number generation, and package upgrades for smart contracts. Additionally, it incorporates advanced cryptography and allows users to create on-chain accounts using existing Web2 services. Governance changes in Sui are determined through on-chain voting, facilitated by the SUI token.
Astar (ASTR) +5.7% - Ranked #99
Astar Network (ASTR) is a scalable smart contract platform in the Web 3.0 ecosystem, supporting both EVM and WASM virtual machines. Designed for dApp developers, it offers enhanced interoperability and efficiency, especially with Layer 2 features like Plasma and zero-knowledge rollups.
Integrated with Polkadot, Astar ensures cross-chain operations. Founded by Sota Watanabe in 2019 as Plasm Network and rebranded to Astar in 2021. The native ASTR token is used for network fees, staking, and dApp support.
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):\
- DONUT +1,337% - Reddit's Tokenized Community Points /r/ethtrade (Nano-Cap)
- TARA +561% - Web3, Smart Contract utilizing blockDAG (Micro-Cap)
- EIV +430% - Play-to-Earn Metaverse, Earniverse (Nano-Cap)
- ARC +406% - Secure Web3 AI Platform (audits, swaps) (Micro-Cap)
Monthly Altcoin Pick:
The next Altcoin pick will be released next week (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,