In this report:
- Crypto News: How to Get Crypto For Free - Seriously!
- Top 100 Gainers: Synthetix (SNX) +13% (7D)
- Micro-Cap Gainers (7-days): ChainTools (CTLS) +20,754% (30d)
- Monthly Altcoin Pick: Our latest Altcoin Pick was released last week!
😲 How to Get Crypto for Free - Seriously!
I know this sounds like clickbait, but really it is possible to acquire a considerable amount of crypto for free with crypto airdrops. Airdrops are crypto projects sending free tokens en masse to their communities in a bid to encourage adoption.
Here are Some of the Largest Airdrops to Date:
That's over $200,000 in cryptocurrency airdrops. Not bad.
What are Airdrops?
Airdrops are when newly minted tokens are sent to hundreds or thousands of different wallet addresses with the hope recipients will be more inclined to engage with the project – even if it’s only to learn how to cash out the free tokens into something else.
Why do Crypto Airdrops Exist?
The main reason for a crypto airdrop is to promote a new project. By issuing tokens to users, the team can bootstrap its project and ensure a fair distribution of tokens among its community. In return, the recipients of these tokens are incentivized to increase awareness and help the project reach a broader audience once the token begins trading on an exchange. The more interest surrounding the token, the more likely it will rise in price.
Are Airdrops with it?
To receive an airdrop, recipients are asked to perform various tasks, from making a transaction with the token to interacting on the project's discord or performing a few social tasks. What is required is project-specific. While it is true that many airdrops are not worth the time or energy there are a handful of projects where a small amount of effort can yield a significant return, effectively for free.
Over the next few weeks, we will be diving into Airdrops to let you know what we find and make you aware of any potentially large airdrops coming your way. If you are short on capital and have a little free time, Airdrops could be very lucrative.
Join Us - As We Accumulate
The market this week has continued to move sideways, with no large movements in the top 100 cryptocurrencies (by market cap). Despite the sideways movements, we are seeing some indications the smaller-cap market is starting to gain some traction.
DeFi, Play-to-Earn gaming, AI-based projects, and Web3 are sectors we believe will perform very well in the next bull market.
The next likely catalyst for massive movement within the crypto space will be an announcement of a Bitcoin ETF which could be this year or early next year - but it's almost certain it will happen and when it does, we will likely see a massive amount of institutional investment move into crypto, which could ignite the next bull market.
Until that happens, we are accumulating. 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 upcoming 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 –> Increased to 41 (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 0.48% in the last week, currently trading at $25,878. In the previous 90 days, Bitcoin has increased by 0.35%.
Ethereum has increased 0.37% in the last week, currently trading at $1,635. In the previous 90 days, Ethereum has decreased by 6.47%.
Global cryptocurrency market capitalization has remained the same over the last week at $1.04T.
Top 100 Gainers - Last 7 Days
Over the last 7 days, the biggest gainers (within the top 100):
Synthetix (SNX) +13.2% - Ranked #57
Synthetix (SNX) is a protocol on the Ethereum blockchain that allows for the creation of synthetic assets called "Synths." These Synths track the value of other assets, enabling users to gain exposure to those assets without actually holding them. For instance, a Synth could mimic the value of gold, cryptocurrencies, or other commodities.
Users can trade these Synths on Synthetix's decentralized exchange, Kwenta. The system uses the Synthetix Network Token (SNX) as collateral for issuing Synths. Governance of the Synthetix platform transitioned to decentralized autonomous organizations (DAOs) in 2020, ensuring community-driven oversight and development.
Stellar (XLM) +11.9% - Ranked #21
Stellar Lumens (XLM) is an open-source, decentralized protocol designed for digital to fiat currency transfers, enabling efficient cross-border transactions. Founded in 2014 by Jed McCaleb and Joyce Kim, it's supported by the Stellar Development Foundation.
Stellar facilitates global financial transactions using its native currency, Lumens (XLM). It has partnered with entities like IBM for cross-border solutions and has been utilized by financial institutions like Franklin Templeton for tokenized funds. Transactions on Stellar are achieved through consensus rather than mining.
It's also worth noting that XLM is an ISO 20022-compliant cryptocurrency.
IOTA (MIOTA) +11.3% - Ranked #74
IOTA (MIOTA) is an open-source digital currency designed for the Internet of Things (IoT). Unlike traditional blockchains, it uses the Tangle, a feeless and scalable structure. IOTA ensures data integrity and offers secure data and value transfers without any fees.
It's involved in various sectors, including global trade and digital identity, and provides solutions for tracking, customs management, and more. The platform encourages community involvement and the development of innovative solutions.
This is the second week in a row IOTA is on this weekly chart. It's also worth noting that IOTA is also an ISO 20022-compliant cryptocurrency.
Render (RNDR) +10.5% - Ranked #61
Render (RNDR) is a decentralized network that connects users with spare GPU computing power to those requiring it for digital rendering. Founded by Jules Urbach in 2017 and initially built on Ethereum, the platform allows users to distribute processing power, with payments facilitated by the RNDR token.
The network matches rendering jobs with available GPU resources, and while transactions are recorded on-chain, job details remain off-chain. The RNDR token, besides facilitating payments, is also used in community governance.
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):
- CTLS +20,754% - DeFi Novel Uniswap V3 liquidity Concept (Nano-Cap) (7D)
- GRO +482% - Web3 DAO (Nano-Cap)
- PMR +312% - Play-2-Earn Gaming platform (Nano-Cap)
- PNB +217% - Predictive AI for Crypto (Micro-Cap)
Monthly Altcoin Pick:
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,