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Market Recap - Bitcoin Nearing ~ $50,000:
The $50,000 mark is a significant psychological number and the next major milestone for Bitcoin to reach. At the current rate, we could expect to see Bitcoin hit and surpass the $50k mark within the next week.
While the market did retrace (buy the rumor, sell the news) soon after the announcement of the Spot Bitcoin ETF, the last two weeks have seen the price of Bitcoin reach new yearly all-time highs with much of the crypto market following Bitcoin's lead.
What Does the Future Hold for the Broader Cryptocurrency Market?
As with prior Bitcoin halving cycles, are we anticipating the price of Bitcoin as well as the broader cryptocurrency market to continue to increase until and after the Bitcoin halving event, which is only 65 days away.
After the Bitcoin halving event, we are anticipating the market to switch into the run-up phase of this crypto cycle, where we expect to see some massive growth within the market, especially within the lower cap-altcoins - You don't want to miss out on this.
Join Us - As We Accumulate
The price of Bitcoin will soon exceed $50,000 and while this may sound like a lot of money for a single Bitcoin, we believe this is just the beginning of what will become one of the biggest growth opportunities we have seen in the crypto space for at least the last four years.
If you haven't already started to diversify your portfolio into crypto, it's still not too late. Now is still an excellent time to get into the market while prices are still 'relatively' low.
If you want to know what we are buying, you are more than welcome to join us as we share our monthly Altcoin picks in anticipation of the upcoming bull run - You just need to become a member.
Richard.
Top 100 Trending Altcoins:
Continuation of the prior week's trend - Lots of green in the market again this week.
Today's Crypto Fear & Greed Index:
Today's Crypto Fear and Greed Index = Greed –> Increased to 74 (from 54 last week).
Bitcoin & Ethereum Price Movement
Bitcoin increased 9.97% in the last week, currently trading at $47,319. In the previous 90 days, Bitcoin has increased by 27.4%.
Ethereum increased 8.4% in the last week, currently trading at $2,494. In the previous 90 days, Ethereum has increased by 21.4%.
Global cryptocurrency market capitalization has increased to $1.78T (from $1.64T last week).
Top 100 Gainers - Last 7 Days
Over the last 7 days, the biggest gainers (within the top 100):
Dymension (DYM) +86.5% - Ranked #62
Dymension (DYM) is a cryptocurrency project emphasizing scalability and transaction speed, addressing key challenges in the blockchain space. It likely uses Layer 2 solutions to enhance these aspects without compromising the underlying blockchain's security. The project may focus on improving efficiency in decentralized applications and possibly in decentralized finance (DeFi). Community-driven development and governance might be a key feature, reflecting a trend in newer crypto projects. Details about its tokenomics are crucial for understanding its growth and sustainability potential.
Kaspa (KAS) +36.1% - Ranked #29
Kaspa (KAS) is a unique cryptocurrency notable for its BlockDAG (Directed Acyclic Graph) protocol, allowing simultaneous block additions for enhanced scalability and transaction speed. It features extremely fast block times, contributing to higher transaction throughput and the potential for lower fees. Despite its speed, it aims to maintain strong decentralization and security. Kaspa is community-driven, focusing on open-source development and decentralized governance. Its applications range from payments to smart contracts and decentralized apps. It operates on a Proof-of-Work consensus mechanism, akin to Bitcoin but with the distinct advantages of its BlockDAG structure.
Beam (BEAM) +31.6% - Ranked #60
Beam (BEAM) is a privacy-centric cryptocurrency using the MimbleWimble protocol to enhance transaction privacy and scalability. This protocol ensures transactions are private by default, offering users a high degree of personal data control. Beam's blockchain is designed for scalability, benefiting from the compact nature of the MimbleWimble protocol. Notably, Beam was launched without an Initial Coin Offering (ICO) or pre-mine, indicating a fairer distribution model. The project is guided by the Beam Foundation, a nonprofit entity, ensuring a unique governance model. Beam also incorporates Lelantus-MW technology, allowing for confidential transactions with various asset types. Additionally, it features a capped supply and halving schedule similar to Bitcoin, influencing its token economics.
Ethereum Name Service (ENS) +30.1% - Ranked #94
Ethereum Name Service (ENS) is a decentralized domain system on the Ethereum blockchain, designed to simplify interactions with Ethereum addresses. It converts complex Ethereum addresses into user-friendly, human-readable names, making transactions and interactions easier. ENS is known for its .eth domains, which replace long Ethereum addresses with memorable names. These domains are tokenized as non-fungible tokens (NFTs), allowing for ownership, transfer, and trade. ENS is integrated across various decentralized applications and wallets, enhancing usability in the Ethereum ecosystem. It supports various domain names, including traditional DNS names. Governed in a decentralized manner, ENS involves token holders in decision-making processes. This service significantly improves the user experience on the Ethereum blockchain, bridging the gap between technical blockchain addresses and accessible named domains, crucial for the evolving decentralized web (Web3).
Biggest Micro-Cap Gainers in the last 30 days
We review and analyze small and micro market cap cryptos weekly, 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):
- RITE +15,192% - Decentralized Entertainment (Nano-Cap)
- GAU +931% - Competitive Gaming Platform (Nano-Cap)
- CELL +268% - Quantum-Safe Blockchain (Micro-Cap)
- GHX +147% - Decentralized GPU Power Mining (Micro-Cap)
Monthly Altcoin Pick:
Last week we released the Altcoin Pick for February and it has increased by almost 200% in the last 10 days (since the beginning of the month). With a market capitalization of under $40 million, this project still has a lot of growth potential, so don't miss this one.
If you would like access to this and future monthly Altcoin picks, consider becoming a member - It's only the price of a few cups of coffee a month.
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 our methodology.
Our Altcoin Picks for the prior months can be found here.
Thanks and appreciation to all our members!
Until the next report,
Richard.
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