M3TA Recap: April 24 – April 30, 2023
Despite a positive US economic indicator suggesting a slowdown in inflation, BTC has faced difficulty breaking through the $30,000 mark in the past week. Read on!
Top performers (7D)
AVINOC - $AVINOC: +172%
Price as of time of writing: AVINOC/USD - $1.03
Avinoc is a digital bridge that connects different groups of people and companies involved in aviation and travel. This platform uses blockchain to make sure that everyone can access and use the same information. This means that passengers, airlines, and other companies can use Avinoc to book flights and manage their activities more easily and efficiently. It's like a one-stop shop for everything related to air travel.
On April 19, CEO Gernot Winter presented AVINOC and VOO - B2B marketplaces to the Chairman of the Civil Aviation Authority and the CEO of Lead Venture in Dubai, generating buzz for the project.
Pepe - $PEPE: +136%
Price as of time of writing: PEPE/USD - $0.0000007484
PEPE is a meme coin with a special tokenomic where only 6.9% of the tokens are held in a special wallet for future use, while the majority (93.1%) are put into a liquidity pool and the LP tokens are burned.
Apr 28, 2023 saw the resembling increases among meme coin projects such as $AIDOGE or $WOJAK and $PEPE was no exception, although the coin has continuously made swings since its inception in mid-April.
Render - $RNDR: +41.5%
Price as of time of writing: RNDR/USD - $2.4
The Render Network is a project that harnesses the power of blockchain and cryptocurrency to allow people to offer their spare GPU resources for others to render visual effects and motion graphics projects.
On April 25th, the RNP-002 proposal was approved to expand onto the Solana blockchain. This could be the reason why the price of $RNDR has experienced significant growth.
MangoMan Intelligent - $MMIT: +40.9%
Price as of time of writing: MMIT/USD - $0.0000005759
$MMIT is the world's first fruit meme token, built on the Binance Smart Chain (now BNB Chain). Mango Man Intelligent, the team behind MMIT, has also launched their own swapping platform called MangoSwapp which allows swapping, farming, LPs providing, and exchanging NFT on BSC chain.
On April 26th, the MMIT token was listed on MEXC exchange. Currently, meme tokens are receiving a lot of attention, which is why the price is experiencing growth.
Radicle - $RAD: +30.5%
Price as of time of writing: RAD/USD - $2.28
Radicle allows people to work together on computer code in a peer-to-peer (P2P) manner by sharing it with each other. Currently, RAD is still in a sideway trading range and is consolidating between $1.5 to $2.5.
On April 18th, Radicle unveiled the release of Heartwood - a redesign of Radicle P2P protocol. Heartwood is a part of the Radicle system that helps to store and share the code. The new version of the technology uses a different method for sharing the code that makes it harder for someone to block or censor the code. It is also compatible with decentralized identifiers (DIDs), which has garnered investors' recent attention with projects like SpaceID.
Top losers (7D)
Blox - $CDT: -33.4%
Price as of time of writing: CDT/USD - $0.229662
Blox is a solution designed for professionals, businesses, and enterprises to track, manage, and perform bookkeeping for their crypto assets. Blox is building the world’s first Non-Custodial Staking Platform for Ethereum and decentralized SSV-based staking pools.
SSV stands for "Simple Staking Validation," which is a method of validating transactions on the Ethereum blockchain. SSV-based staking pools are decentralized pools where multiple users pool their cryptocurrency holdings to increase their chances of validating transactions and earning rewards.
These pools are managed through smart contracts on the Ethereum blockchain and do not require users to give up control of their assets to a centralized authority, making them non-custodial.
The CDT token experienced an all-time high during the Shapella upgrade period, which drew a lot of attention. However, currently, its price has significantly decreased from $0.5 to $0.2. Additionally, the project's Twitter and Reddit accounts are currently inactive, and the token is not listed on Coinmarketcap.
Stride - $STRD: -25.7%
Price as of time of writing: STRD/USD - $1.42
Stride Zone is a blockchain platform that helps people make money from their staked tokens. It allows users to earn staking and DeFi yields on the Cosmos IBC network.
The price of $STRD has sharply decreased from its all-time high of $2.5 to a level of $1.3. However, the Total Value Locked (TVL) of Stride has only slightly turned around, indicating that funds are still being held within the system.
PancakeSwap - $CAKE: -20%
Price as of time of writing: CAKE/USD - $2.68
PancakeSwap is a decentralized exchange (DEX) built on the Binance Smart Chain (now BNB Chain), providing users with a seamless platform to easily swap BEP-20 tokens. It differs from Uniswap, a DEX operating on the Ethereum blockchain.
On April 24th, the price of $CAKE decreased from $3.3 to around $2.8. However, on May 25th, the project announced a proposal for Tokenomic v2.5, which will reduce the trading rewards in the CAKE Syrup Pool from 6.65 CAKE/Block to 3 CAKE/Block. Over the next 6 months, the rewards will gradually decrease to 0.35 CAKE/Block. This caused many investors to leave the system.
Polymesh - $POLYX: -21.2%
Price as of time of writing: POLYX/USD - $0.182348
Polymesh is a blockchain designed for regulated assets, enabling streamlined processes and new financial instruments. It solves regulatory challenges using public infrastructure for identity, compliance, confidentiality, governance, and settlement.
Since April 20th, the cryptocurrency token known as $POLYX has experienced a significant increase in value from $0.16 to $0.27. This growth occurred after the popular cryptocurrency exchange Binance became a node operator on the Polymesh blockchain network. However, the current price of $POLYX is still undergoing a significant adjustment period.
Evmos - $EVMOS: -18%
Price as of time of writing: EVMOS/USD - $0.300595
Evmos is a scalable Proof-of-Stake blockchain fully compatible with Ethereum. It utilizes the Cosmos SDK and Tendermint Core consensus engine, enabling standard Ethereum to run as a Cosmos-specific blockchain.
Since its launch in May 2022, the total value locked (TVL) of Evmos has decreased and is currently only at $2.5 million. This has resulted in investors losing interest in EVMOS, leading to a lack of growth in the price of $EVMOS.
Macro
Consumer Confidence - a crucial indicator of the economy's overall health, reflecting people's spending and saving behavior as they feel secure about their income stability.
Consumer confidence index drops to 101.3, the lowest since July 2022, from revised 104.0 in March.
Gross Domestic Product (GDP) - a measure of the total monetary value of all final goods and services produced within a country during a specified time period.
GDP increased 1.1% annually in Q1, below the 2% forecast.
Personal Consumption Expenditures Price Index (PCE) - measures how much people in the US are paying for goods and services.
The PCE price index increased 4.2% in March, lower than the 5.1% in February.
Micro
Polygon - April 26, 2023
The bridge offers a similar user experience to Polygon PoS Bridge but incorporates UX improvements.
Bridges powered by zero-knowledge technology are governed entirely by smart contracts, making them more secure.
Users can transact within the rollup with fast finality and usually withdraw funds on Ethereum within 30-60 minutes.
Most ERC-20 tokens and ERC-777 tokens are supported.
The bridging process is automatic, and users do not need to map tokens before bridging.
Dailycoin - April 25, 2023
Russian users can now use local Mastercard and Visa cards for fiat deposits on Binance.
They can deposit rubles, euros, British pounds and other currencies using bank cards issued in Russia.
However, deposits in US dollars are still not available for them.
Binance removed limits for account balances over 10,000 euros for Russian users.
Binance claims that it is still following EU sanctions against Russia despite removing some restrictions for Russian users.
P2P trading for USD and EUR is still blocked in Russia due to EU sanctions.
News Highlight
CoinList - April 24, 2023
What is ZetaChain?
Decentralized L1 blockchain with cross-chain interoperability, connecting all blockchains.
Offers complete Omnichain toolkit for developers to build omnichain dApps and for users to access all their assets, data, and liquidity securely from a single point of logic.
Requirements:
Looking for around 150 experienced validators from diverse locations.
They should be experienced in operating Cosmos SDK-based validators, developing/testing security of Cosmos SDK protocols, EVM-compatible smart contract layers, and DevOps/operational experience.
They must fulfill hardware requirements and have access to required APIs.
Timeline:
Testnet will have four phases with each lasting 1-3 weeks.
Phase 2 starts on May 1st, 2023.
Binance - April 28, 2023
On April 28, 2023, Binance Launched BLUR, the native token of Blur NFT marketplace on Futures.
Lookonchain reported 3 ETH wallets buying 2M BLUR tokens at $0.636 each, possibly causing the price increase.
Whales bought BLUR for less than 690 ETH, around $1.28 million USD.
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