Market Review for Feb 12, 2024
- 24h Main Assets Performance: The S&P 500 index is up by 1.61% at $5,026, while Bitcoin is slightly down by 0.27% at $48,118. Ethereum has decreased by 1.07% to $2,497, and another cryptocurrency is at $320, down by 1.08%.
- Market Cap: The overall market capitalization is shown to be $1.82 trillion, experiencing a minor decrease of 0.92%.
- Market Sentiment: The market sentiment is currently neutral, and a local bullish trend is indicated in a separate graph.
- Cryptocurrency Performance Highlights: Dymension is trending on DropsTab with an increase of 7.69% in the last 24 hours. Immutable has the highest growth in the top 100, increasing by 8.46%. Sui is trending with a slight increase of 0.14%, and Bonk has the biggest drop in the top 100, decreasing by 12.15%.
- Fear & Greed Index: The index is at 70, indicating a sentiment of greed.
- Insights: Several pieces of information are provided:
— Kraken has obtained a license to offer services in the Netherlands.
— BlackRock’s portfolios might incorporate more Bitcoin in the coming years.
— The Bitcoin halving event is predicted to be less than 10,000 blocks away.
👀Upcoming Unlocks
Don’t miss out on upcoming unlocks for $GFAL, $SWEAT, $SAND, $RSS3, and $ROSE this week.
The period between February 13th and 18th will see significant activity in the cryptocurrency market, with a total value of approximately $121.47 million in tokens scheduled to be released:
- Games For A Living (GFAL) will have a release on February 13, where 229,450,000 GFAL tokens are set to be unlocked. This quantity constitutes 2.29% of the total token supply, and the market value of this unlock is estimated at $7.69 million, which is 13.54% of its market capitalization.
- Sweat Economy (SWEAT) is also preparing for an unlock on February 13. About 678,050,000 SWEAT tokens, making up 3.23% of the total supply, will be released, valued at $7 million, equating to 10.28% of the project’s market cap.
- On February 14, The Sandbox (SAND) is expected to unlock 181,080,000 SAND tokens, which is about 6.04% of their total supply. The market value of these tokens is around $84.08 million, or 8.09% of the total market cap.
- RSS3 (RSS3) will see an unlock of 23,210,000 RSS3 tokens on February 14, representing 2.23% of the total supply. The value of this unlock is projected to be $3.20 million, which is 4.60% of its market cap.
- Finally, Oasis Network (ROSE) has an unlock scheduled for February 18, with 165,580,000 ROSE tokens set to be released. This forms 1.66% of the total supply and has an estimated market value of $19.50 million, which is 2.47% of the total market cap.
These unlocks are part of normal operations for these blockchain projects and represent significant events for token holders and potential investors, as they often impact the token’s price and availability.
🚀Accumulation Phase
New Coins in Accumulation Phase Backed by Top Tier Funds
Several new cryptocurrencies are currently in what’s known as the accumulation phase, which is often characterized by higher trading volumes and price fluctuations within a specific range. This activity may indicate that larger investors are building up their positions. The cryptocurrencies experiencing this phase, backed by top-tier funds, include:
- Ronin (RON) has been in the accumulation phase for 4 days, with an entry price of $2.58. The one-month volume increase is 1,753.6%, and it has a fully diluted valuation of $2.67 billion. There are over eight investors involved, and its social performance score is 1065.
- Marlin (POND), with a rank of 249, has been accumulating for 7 days, starting at an entry price of $0.024. It has seen a volume increase of 39.27%, an FDV of $185 million, more than four investors, and a social performance score of 521.
- Prom (PROM), ranked 294, has been in the accumulation phase for 15 days, with an entry price of $7.11. The volume increase over one month is 26.94%, with an FDV of $140 million, and a social performance score of 266.
- Sperax (SPA), ranked 817, has been accumulating for 3 days with an entry price of $0.009. It has a significant volume increase of 1,837.9%, an FDV of $57.3 million, involvement from more than three investors, and a social performance score of 397.
- ZKBase (ZKB), ranked 1021, has been in this phase for 13 days, with an entry price of $0.053. The one-month volume increase is 436.9%, the FDV stands at $27.5 million, it has more than two investors and a social performance score of 568.
The accumulation phase is a critical period for cryptocurrencies, as it can precede significant price movements, making these statistics of particular interest to investors and market analysts.
💧Funding Rounds
Top Funding Rounds in the Last Week
In the last week, several cryptocurrency and blockchain projects have successfully completed significant funding rounds. Here is a brief overview of these ventures and their achievements:
- Oobit secured $25 million in Series A funding, operates within the finance sector, and has a Twitter performance score of 219.
- Nibiru completed a funding round with $12 million raised, is involved in the blockchain space, and has a Twitter performance score of 532, with additional investors indicated and the prospect of an airdrop.
- Meson Network raised $8.7 million through a public sale, falls under the DePIN category, and scored 403 on Twitter performance. The project is listed on CoinList.
- Superform gathered $6.5 million in seed funding, is in the DeFi category, and has a Twitter performance score of 427. The project shows a significant number of investors and the possibility of an airdrop.
- Omega raised $6 million in its funding round, is a DeFi project with a Twitter performance score of 491, and shows a substantial investor base plus a potential airdrop.
- Flood secured $5.2 million in seed funding, is categorized under DeFi, and has a Twitter performance score of 245. The project shows several investors and an indication of a possible airdrop.
- YogaPetz completed a funding round with $5 million, is in the social sector, and boasts a Twitter performance score of 1006. The company is also indicating a potential airdrop.
- GLIF raised $4.5 million in seed funding, operates within DeFi, and has a Twitter performance score of 273.
- Startale Labs has raised $3.5 million in Series A funding, is involved in infrastructure, and has a Twitter performance score of 181.
- Merlin Chain and Unisat have undisclosed amounts raised. Merlin Chain, in the blockchain sector, has a Twitter performance score of 539, and Unisat, focusing on wallets, has scored 883. Both show active investor participation and hint at possible airdrops.
These funding activities highlight the continued investor interest and dynamic nature of the blockchain and cryptocurrency markets, with social engagement and the anticipation of airdrops being noteworthy aspects of these ventures.
February 12, 2024 | Cryptocurrencies Analytics was originally published in The Dark Side on Medium, where people are continuing the conversation by highlighting and responding to this story.