Crypto Weekly Newsletter As Of October 09

The crypto market has remained bearish in the past week, indicating that bears are taking control over the bulls to continue the negative downturn.

Last week’s developments created a buzz in the crypto users’ minds.  We have to see what this month is planning for the crypto community. But before that check out Crypto Weekly Newsletter here.

According to CoinMarketCap, the current market cap is  ₹90,698,831,072,708 on 09 October. In the past year, even the top-performing coins were seen struggling in these challenging times and are trying to make a comeback.

For this last week, Bitcoin is at the price of ₹2,325,610.71 and has decreased by 0.15% in the last 24 hours, and a dip of 1.76% is seen in the duration of 7 days.

The price of Ethereum at the moment is ₹136,023.35 and has decreased by 0.09% in the last 24 hours, and a dip of 6.61%  is seen in the duration of 7 days.

Crypto Weekly Newsletter: Top Trending Coins

In the past week, three cryptocurrencies have remained the talk of the town because of some recent developments related to these cryptocurrencies: Avalanche (AVAX), Monero (XMR), and SafePal (SFP). 

In the past week, the price of Avalanche (AVAX) showed a 0.89% upsurge. However, the token experienced a fall of 4.33% in the past 24 hours. And the token is currently trading at the price of ₹829.35.

Apart from that, Monero’s XMR token also rose by 3.05% in the past week. Furthermore, in the past 24 hours, the token also surged by more than 0.13%. In addition, the price of the XMR token is trading at ₹12,959.93.

Talking about SafePal (SFP), the token illustrated a 3.65% jump as compared to other major cryptocurrencies. On the other hand, XLM has shown 0.82% gains in the past 24 hours, trading at a price range of ₹51.99.

Top Crypto Gainers & Losers

The past week remains one of the most static puzzling weeks for the crypto market in 2023. So, let’s have a look at some of the top crypto gainers and losers from the past week:

Crypto Weekly Newsletter Top Gainer & Losers

Why Crypto Market Remain Puzzled?

The crypto market has been perplexed over the previous seven days due to a series of positive and negative occurrences in the US crypto sector. This means that both whales and sharks began to use the “buy the news and sell the rumor” strategy to confuse the market.

Furthermore, a few coins have gained traction in the last week as a result of whales’ activities and developments involving those coins/tokens.

Crypto Weekly Newsletter: Trending News From the Last Week

▪️ A crypto fraud that operated in Himachal Pradesh for five years has left thousands of investors in despair, with over Rs 200 crore ($25 million) reportedly swindled. Using a Ponzi-style scheme, fraudsters attracted victims with promises of quick riches through investments in KRO and DGT coins.

While arrests have been made, the mastermind of this vast crypto fraud is still free, forcing investigators to wrestle with the complexity of unraveling this complicated web of deception.

▪️ On October 4th, District Court Judge Analisa Torres denied the US Securities and Exchange Commission’s move to appeal its loss against Ripple Labs, the company responsible for launching the XRP token.

New Token Listing Announcement: 

On September 30, SunCrypto announced the listing of three popular cryptocurrencies in its coin offering services. These cryptocurrencies are;

▪️ Celo (CELO)

▪️ UniBot (UNIBOT)

▪️ Nakamoto Games (NAKA)

SunCrypto Views

Last week’s rollercoaster ride in the crypto market was emblematic of the industry’s unpredictable nature. While negative events and uncertainties persist, there are also positive developments that showcase the resilience and potential of cryptocurrencies and blockchain technology. 

As the crypto market remains in a state of flux, it’s crucial for investors and enthusiasts to stay informed, exercise caution, and be prepared for further twists and turns in this ever-evolving landscape. Only time will reveal whether the positive trends will outweigh the negatives and lead the crypto market toward a more stable and prosperous future.

For more crypto-related content like Crypto Weekly Newsletter, Crypto News, informational blogs, and crypto news, check out Suncrypto Academy.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. All content provided is for informational purposes only, and shall not be relied upon as financial/investment advice. Opinions shared, if any, are only shared for information and education purposes. Although the best efforts have been made to ensure all information is accurate and up to date, occasionally unintended errors or misprints may occur. We recommend you do your own research or consult an expert before making any investment decision. You may write to us at [email protected].

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