The recent market crash marks a pivotal transition phase, with significant shifts across leading coins and growth in various segments of the ecosystem.
Here’s a roundup of the most notable events:
$BTC experienced significant price volatility last week, fluctuating between $49,000 and $63,000, largely influenced by ongoing war news. Many altcoins, including $ALT, $ENA, $REZ, and $PIXEL, reached new lows during this period.
$ETH briefly touched $2,100, but the recovery across the Ethereum ecosystem, including tokens like $LDO and $SSV, was less robust compared to others.
$SOL showed a faster and stronger recovery than Ethereum, with its market cap surpassing that of $BNB. This raises questions about Solana’s potential to continue outperforming.
$FRIEND saw a steep decline, with its price dropping below $0.10—down over 90% from its all-time high, sparking concerns about the future of the #SocialFi wave.
$RON faced a setback when the Ronin Bridge was hacked, losing 4K $ETH and 2M USDC, valued at approximately $12 million. However, the funds were successfully recovered.
$STRK saw a leadership change, with CEO D. Oliva of the Starknet Foundation stepping down and James Strucwwick taking over.
$XRP concluded its legal battle with the SEC, resulting in a $125 million fine, while $TAO and $SUI gained attention as Grayscale introduced new funds for Bittensor and Sui.
Other Noteworthy Developments
– $PAC will migrate from Blast to the Solana chain.
– $TON is finally being listed on Binance, leading to speculation about the sentiment for $DOGS.
– Nearly a month remains for the EIGEN Season 1 Airdrop.
– Front-end transaction costs for $UNI have exceeded $57 million, raising questions about the sustainability of high-revenue projects.
In terms of accumulation, Smart Money has been focusing on high-cap tokens. The top 10 tokens most accumulated in the past week include $TAO, $LINK, and $NEIRO, with $TAO leading the pack at $2.26 million. The accumulation phase for $TAO and $LINK at current price levels suggests strong confidence in these tokens.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.