• BAYC’s social mentions and engagement increased significantly.
• The floor price of the Ethereum NFT decreased, leading to a decrease in market capitalization.
• Despite the drop in price, social activity around the asset has been trending upwards.

BAYC Social Mentions Increase

According to LunarCrush, BAYC’s social mentions increased 161% over the previous day. This implied that the NFT collection was tremendously considered by prospective traders on these platforms.

BAYC Floor Price Drops

Despite the hike in mentions, the floor price of the Ethereum [ETH] NFT decreased. At press time, the average of the collection was 61.59 ETH. This amounted to $110,122 at the current price of cryptocurrency and a few months back, it was exchanging hands for around 100 ETH.

Decreasing Market Capitalization

At the time of writing, BAYC’s market cap had reduced due to its decreasing circulating supply amounting to 673.79 ETH. Despite this drawdown though some holders were still elated as their asset had a higher market cap than Credit Suisse which has been in existence for 167 years!

Drop In Sales Volume

The drop in floor price has resulted in a decrease in sales volume for BAYC as it accounted for $8.34 million over seven days – representing a 6.10% drop from previous weeks when it swung between first and second position in most sales volumes rankings among top collections with highest volume week-in and week-out..

Conclusion

Overall, despite an increase in social activity around Bored Ape Yacht Club [BAYC], its market capitalization has decreased due to its decreasing circulating supply and consequently resulting in lower sales volumes compared to previous weeks when it ranked highly among top collections with highest volume week-in and week-out..

• The Terra Luna project collapsed in May 2021, leading to a decline in the price of LUNA from its former highs.
• The SEC charged Terra founder Do Kwon with fraud over the $40 billion crypto crash, and this adversely affected the market.
• In early May 2022, large investors began selling their tokens, causing a huge drop in the price of LUNA and UST.

The Collapse of Terra Luna

It has been more than nine months since the crypto-project Terra Luna saw a catastrophic collapse in May last year. For its part, the price of LUNA has been on a downtrend for a few weeks now, with the altcoin trading at $1.26 at press time. In fact, its market capitalization had fallen to as low as $293 million on the charts. As the SEC charged Terra founder Do Kwon with fraud over the $40 billion crypto crash, it has adversely affected the market. As there is hardly any positive news regarding its price movement, we cannot deny the fact that LUNA will never be considered a ’safe‘ cryptocurrency. Therefore, it may not be able to return to its former heights again.

Stablecoins Facing Price Volatility

Stablecoins, such as UST, were created to protect investors from the extreme price volatility of popular cryptocurrencies, such as Bitcoin (BTC). As fiat currency is pegged to reserves such as gold, a stablecoin is pegged to either a fiat currency (e.g. USD) or a supporting cryptocurrency. In this case, TerraUSD was pegged to Luna. But herein lies the conflict. A cryptocurrency isn’t equivalent to gold reserves and when LUNA prices got destabilized it had an impact on UST prices too leading to an entire system collapse in second quarter of 2022 . The stablecoin project was aimed at complementing price stability and wide adoption of fiat currencies with decentralized model of cryptocurrency but failed due to lack of expected protection against market volatility .

Market Crash After LUNA’s Fall

Even those who are only vaguely familiar with cryptocurrency industry know about apocalyptic collapse of LUNA and UST in May 2022 . This collapse was crucial factor instigating further cryptocurrency crisis thereafter .LUNA was one top performers once ,with altcoin among top 10 cryptocurrencies by market value towards end 2021 according Bloomberg report from May 2022 sheds light further developments transpired . It was early May 2022 that Terra system collapsed as large investors began selling their tokens causing huge drop prices coins while UST fell $0.10 ,LUNA’s price fell almost zilch entire cryptocurrency market lost around$45 billion within week ensuing bloodbath leading global crash market .

Terra System Leadership’s Hopeful Plan

Terra system leadership hoped buy Bitcoin reserves buy more UST and LUNA coins believing they could restore stability but plan backfired ultimately crashing project making losses many investors striving cash out their investments during precarious situation .It wasn’t until first quarter 2023 that market started recover gradually although still remains far below pre-crash levels .

Conclusion

The collapse of Terra Luna caused much turmoil throughout global markets which can still be felt today even though some recovery has taken place since first quarter 2023 .Failed plans by leadership team coupled fraudulent activities SEC charges led downfall which left many investors broken hearted without chance recouping losses incurred due crash course nature volatile markets associated cryptocurrencies like Bitcoin ,LUNA etc hence caution must exercised when investing these assets order avoid similar disastrous scenarios future investments made into them should done cautiously keeping mind risk reward ratio involved decision making process make informed ones thereby minimizing chances incurring losses due extreme volatility these digital assets offer potential gain significant returns if traded properly following proper trading strategies maintaining good risk management practices all times

• Binance Chain’s daily transactions recorded a year-to-date growth of 229%.
• NFT trading volume on the network declined sharply in February.
• BNB chain’s total transactions have more than doubled since the start of 2021.

Binance Chain’s Year-To-Date Transaction Growth

Binance Chain [BNB] recorded a big jump in its daily transaction volume over the week, rising from 3.5 million to over 5 million at the time of writing. While this amounted to a nearly 47% rise, a closer look at the data revealed that the chain’s year-to-date (YTD) growth was also impressive – it had more than doubled since the start of 2023 with an increase of 229%.

Increase In Daily Active Users

The increase in network adoption could be due to some big ticket launches in its NFT vertical. On 1 March, a platform named Bicassso was unveiled by Binance, which would combine artificial intelligence (AI) and non-fungible token (NFT) technology. The number of daily active users (DAUs) on Binance chain also increased by 50%, resulting in an increase in transaction fees as well by 21%.

Falling NFT Trading Volume

However, data from Santiment narrated a different story. Barring the short term upticks at different intervals, the total NFT trading volume has plunged 67% from peak of 6 February until 2 March. The total value locked (TVL) on DeFi front also declined 12% over last three weeks dipping below $7 billion mark.

Price Movement Of BNB Coin

Binance Coin has shed more than 6% of its value in last week and was down 2.7% in last 24 hours according to CoinMarketCap data. Technical indicators such as Relative Strength Index (RSI), Moving Average Convergence Divergence(MACD), and On Balance Volume (OBV) pointed out bearish signals for the coin indicating further losses if support level of $289 breaks away.

Conclusion

These indicators sounded warning alarm for BNB investors indicating potential losses if support hold does not hold good and hence investor must keep track on prices movements closely before making any decisions regarding their investments.

• Filecoin [FIL] has seen double-digit appreciation over the past few weeks, rallying by 50% in the past seven and 30 days.
• The major driving factor for the recent uptrend was a planned expansion to include a Filecoin virtual machine (FEVM).
• However, FIL dropped by over 10% in the past 24 hours due to macroeconomic uncertainty.

Recent Price Increase of Filecoin [FIL]

Filecoin [FIL] has seen double-digit appreciation in the past few weeks, with its price rising by 50% in the past seven and 30 days. The major driver of this rally was an upcoming expansion to include a Filecoin virtual machine (FEVM).

Short-Term Correction Due To Market Uncertainty

However, FIL saw a sharp correction of more than 10% within 24 hours due to market uncertainty and potential hawkish stance from the Federal Reserve if inflation continues to persist. The Personal Consumer Expenditure (PCE) that will be released on Friday is an important tool used by the Fed to track inflation and could determine its policy stance during March’s FOMC meeting. This event could influence FIL’s price action throughout Q1 2023.

Short-term Bearish Outlook

A rejection at $9.181 sent FIL tumbling down 17%. Its short-term recovery was aided by support at $7.708, but it still faces obstacles ahead. If Bitcoin falls below $24K, FIL could drop further towards 23.60% Fib level ($7.904), $7.708 or $7.510, which can be used as targets for shorting positions with stops above 50% Fib level ($8.345).

Near-term Bullish Outlook

On the other hand, bulls are aiming for overhead resistance at $9181 if it closes above 50% Fib level and BTC retests 25K levels for further upside momentum invalidating bearish bias set earlier . However there are hurdles at 61.8%, 78.6% Fibonacci levels that need to be overcome first .

Indicators Show Loss Of Momentum

The RSI and OBV have been declining significantly while Directional Movement Index (-DI) has been increasing showing loss of momentum leading up until now while development activity and demand have also gone down according to Santiment data with weighted sentiment improving slightly albeit staying positive overall .

• Polygon [MATIC] revealed updated statistics about its anticipated zkEVM. The testnet nearly reached 300,000 transactions.
• Whale interest increased in MATIC and market indicators looked bullish.
• CryptoQuant’s data revealed that MATIC’s exchange reserve was decreasing and the total number of active wallets trading the token went up.

Polygon’s zkEVM Transactions

Polygon [MATIC] released updated statistics about its anticipated zkEVM, which was in the final stages of testnet testing at press time. The testnet *nearly* reached 300k transactions, a milestone for the future of scaling Ethereum, and a testament to the maturity of Polygon #zkEVM. Other BIG NEWS is coming soon. Until then, a quick rundown of all Polygon zkEVM metrics for last week, showing continued momentum 📈 pic.twitter.com/lMpYATtGfe — Polygon ZK (@0xPolygonZK) February 13, 2023

Whale Interest in MATIC

WhaleStats reported that whales seemed confident in MATIC as it ranked third on their list of crypto holdings by top 500 ETH whales 🐳 The top 500 #ETH whales are hodling $651,269,941 $SHIB$146,616,720 $BEST$142,570,607 $MATIC$141,187,680 $CHSB$140,224,778 $LINK$111,691

• Uniswap [UNI] holders have called out a16z, a Silicon Valley venture capitalist firm, for allegedly controlling the decision and proposal approval process of Uniswap.
• Data from Bubblemaps, a blockchain data visualiser, showed that a16z owns 4.15% of the total UNI supply which is enough to pass any proposal.
• Decentralized technology advocate Chris Blec raised concern about the irregularities in the voting system as Binance CEO CZ was surprised to hear about it.

Uniswap [UNI] Holders Question Operational Model

Uniswap [UNI] holders who have stuck to the protocol for a long while might need clarity on the operational model of the project. This is because evidence flying around suggests that a16z, the Silicon Valley venture capitalist firm, controls the decision and proposal approval processes of Uniswap. Recently, UNI dropped 5%, making some UnisWap holders wonder if they are being lied to about how their protocol is governed.

a16z’s Influence on Proposals

Bubblemaps, the blockchain data information visualizer confirmed that a16z could have been influencing most Uniswap proposals. The investment firm owns 4.15% of the total UNI supply which is enough to pass any proposal and 0.25% supply is required to submit one as well – one wallet belonging to a16z sent such proposal recently and this stirred up conversations among users regarding its influence on governance within Uniswap’s platform and ecosystem .

Chris Blec’s Reaction

Decentralized technology advocate Chris Blec knocked the institution for using its voting power to distort a UNI proposal to launch on the Binance Coin [BNB] chain while Binance CEO CZ was surprised by this disclosure. Blec responded that he had known about these irregularities for some time now despite Uniswap touting itself as having 310,000 members with full say over its governance and utilization of its $1.6 billion treasury – leading some retail investors to feel sidelined in comparison with big whales owning significant amounts of tokens who can control votes instead..

Divided Reactions From Community

The revelation has caused divided reactions from users online – some saw nothing wrong in it while others argued against it being dishonest or not following what Uniswap preaches as DeFi protocol – however there has been no official response from Uniswap at this time yet regarding these claims made against them alluding towards their operational model being manipulated by outside influences rather than decentralized decisions made solely by stakeholders/members within their ecosystem .

Conclusion

In conclusion , although there are still many unanswered questions at this moment such as whether or not these claims are true or false , it will be important for Uniswap stakeholders/members alike to gain clarity on how exactly their platform functions so they can make informed decisions moving forward with regards to future investments or proposals submitted through their DAO-based system .

• Aptos recently concluded its NYC event in partnership with KYD Labs
• Aptos [APT] surprised the crypto industry over the last few days by registering massive price gains
• LunarCrush’s data suggested that the pump might continue in the following days

Aptos, a decentralized platform for ticketing and fan engagement, recently concluded its NYC event in partnership with KYD Labs, a blockchain-based loyalty platform. The event celebrated Aptos’ first step in changing the broken ticketing system and putting power back in the hands of creators.

The event seemed to have an overwhelmingly positive response, as Aptos’ price skyrocketed over the last few days. According to CoinMarketCap, APT’s price increased by nearly 40% in the last seven days, and at the time of writing, it was trading at $17.63 with a market capitalization of more than $2.8 billion.

The crypto industry was further surprised to see the bullish trend continuing, as LunarCrush’s data suggested that the pump might continue in the following days. Aptos was on the list of the cryptos with the highest Galaxy Score, which is a massive bullish indicator. On-chain metrics also supported the massive price hike, which made it clear that the good days are far from over for Aptos.

The collaboration between Aptos and KYD Labs seems to have been the major driving force behind the price hikes. The event put the power back in the hands of creators and allowed them to focus on what matters—building culture and connection across Web3 and beyond.

It remains to be seen how the market will respond in the coming days, but one thing is for certain: Aptos is one to watch. With the right combination of on-chain metrics, industry partnerships and bullish sentiment, Aptos is sure to keep making waves in the crypto world.

• Acala, a decentralized finance network on Polkadot, released its roadmap for 2023.
• Electric Capital’s annual report revealed that Polkadot had expanded to over 200 full-time developers in just over two years.
• DFG’s report revealed that there was a rise in the number of Polkadot mainnet validators during the last year, with on-chain metrics responding positively.

Acala, the decentralized finance network on Polkadot, recently unveiled its roadmap for the year 2023. The roadmap provides insight into the team’s plans for the next 6-12 months, with a focus on engineering and growth in areas such as security, governance, and product development.

The news was welcomed by the community, who have been keeping a close eye on the progress of Polkadot. This was further emphasised when Electric Capital’s annual report was released on 18 January, which revealed that Polkadot had increased its network of full-time developers to over 200 in just over two years. This is an impressive feat, considering that the same process usually takes over four years.

The report also showed that the number of Polkadot mainnet validators had risen significantly in the last year. This was further confirmed by DFG’s latest report, which revealed that on-chain metrics had responded positively to the updates. These positive sentiments around DOT remained stable over the week, indicating the community’s trust in the network.

Acala’s roadmap for the year 2023 is expected to help Polkadot reach new heights this year, while also adding significant value to the network. It remains to be seen how the network fares over the coming months and years, but the outlook is certainly encouraging.

• U.S. Federal prosecutors have seized $697 million in assets belonging to Sam Bankman-Fried, the founder of the bankrupt crypto exchange, FTX.
• Assets were seized from Silvergate Bank, Moonstone Bank, Binance’s global platform, and Binance.US.
• Additionally, $500 million worth of Robinhood shares, primarily owned by Bankman-Fried, were seized by the Department of Justice.

The United States Federal prosecutors have recently confiscated $697 million in assets belonging to Sam Bankman-Fried, the founder of the bankrupt crypto exchange, FTX. This seizure was made from various financial firms, including Silvergate Bank, Moonstone Bank, Binance’s global platform, and Binance.US.

The U.S. Department of Justice also seized $500 million worth of Robinhood shares, primarily owned by Bankman-Fried. These shares were purchased in May 2022 and were kept as collateral for Alameda’s loan from BlockFi. Bankman-Fried has since offered to contribute nearly all of his personal Robinhood shares to FTX customers.

The confiscated assets are part of an ongoing investigation into Bankman-Fried’s financial activities. Authorities believe that the funds were used to purchase Robinhood shares, purchase cryptocurrencies, and invest in other ventures. FTX Digital Markets had three accounts on Silvergate Bank, which held more than $6 million. The assets from this platform were seized around January 11, 2023.

Moonstone Bank, which had connections to the FTX management, had nearly $50 million seized. Additionally, assets were recovered from Binance’s global platform, and Binance.US, the global exchange’s American arm. Three accounts belonging to Bankman-Fried were also seized, but the amount confiscated was not revealed by the authorities.

Bankman-Fried has been the majority owner and sole director of the Robinhood stake purchased via Emergent Fidelity Technologies. Reports claimed that these shares were purchased from money borrowed from Alameda – FTX’s investment arm. In a blog post, Bankman-Fried claimed that he has “offered to contribute nearly all of my personal shares in Robinhood to customers”.

The U.S. Federal prosecutors have confiscated a large sum of money belonging to Bankman-Fried as part of an ongoing investigation into his financial activities. As a result, FTX customers have been offered the opportunity to receive a portion of the Robinhood shares which were previously owned by Bankman-Fried. It remains to be seen whether this offer will be accepted, and what outcome the investigation will have on Bankman-Fried’s future.