Weekly Crypto Market Summary: Top Gainers and Losers Revealed

September 10, 2024

This week saw notable movements in the cryptocurrency market, with some assets experiencing significant gains while others faced sharp declines. The total cryptocurrency market capitalization currently stands at $1.96 trillion, reflecting a 1.53% increase from the previous week.

Let’s dive into the top gainers and losers of the week.

Rollbit Coin and Apecoin Lead the Gainers This Week

Rollbit Coin (RLB) stood out as the best performer this week, recording a robust gain of 39.31% over the past seven days. Close behind, Apecoin (APE) also saw substantial growth, rising by 27.86%.

Both cryptocurrencies demonstrated strong momentum and attracted significant market attention.

Other notable gainers of the week included Binaryx (BNX), which increased by 25.11%, and Sui Crypto (SUI), which saw a rise of 17.38%. Popular altcoins Quant (QNT) and Starknet (STRK) experienced gains of 16.48% and 12.97%, respectively.

Aave (AAVE), 1inch Network Token (1INCH), Bitcoinsv (BSV), and Uniswap (UNI) also featured among the top gainers with respectable weekly increases.

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Top 10 Gainers of the Week

Rollbit Coin (RLB): +39.31% — $0.089526
Apecoin (APE): +27.86% — $0.749276
Binaryx (BNX): +25.11% — $1.467196
Sui Crypto (SUI): +17.38% — $0.905949
Quant (QNT): +16.48% — $71.90
Starknet (STRK): +12.97% — $0.414261
Aave (AAVE): +12.06% — $136.46
1inch Network Token (1INCH): +11.40% — $0.258026
Bitcoinsv (BSV): +9.88% — $45.32
Uniswap (UNI): +9.62% — $6.58

Sun Token and Astar Among the Biggest Losers

On the flip side, Sun Token (SUN) faced the sharpest decline this week, dropping by 20.19%. Astar (ASTR) was the second biggest loser, with a decrease of 11.18%. Layerzero (ZRO) and Arcblock (ABT) also saw significant losses, falling by 9.98% and 9.32%, respectively.

Ethereum (ETH), one of the leading cryptocurrencies, was also among the top losers, decreasing by 8.92% over the past week. This drop highlights the volatility present even among more established cryptocurrencies.

Top 10 Losers of the Week

Sun Token (SUN): -20.19% — $0.026948
Astar (ASTR): -11.18% — $0.053391
Layerzero (ZRO): -9.98% — $3.38
Arcblock (ABT): -9.32% — $1.692734
Cosmos (ATOM): -9.04% — $3.97
Dogs (DOGS): -9.00% — $0.001002
Ethereum (ETH): -8.92% — $2,287.18
GMX (GMX): -8.91% — $23.21
Aragon (ANT): -8.80% — $5.84
Mog Coin (MOG): -8.58% — $0.00008382

The cryptocurrency market continues to exhibit its characteristic volatility, with significant changes occurring among both lesser-known and established cryptocurrencies. Interestingly, most of the top gainers this week were decentralized finance (DeFi) protocols.

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10 Tips on How To Get Organic Traffic For Crypto Startups

As a crypto startup, your success needs to get free attention to your website. Organic traffic is the number of people who find your website through search results that don’t cost you anything. Below are ten ways to get free attention to your cryptocurrency startup. The article was written with the help of FINPR who help crypto companies with crypto SEO. Create High-Quality Content: Creating high-quality content that is useful to your audience is one of the best ways to get organic traffic. You can write educational or useful blog posts, make infographics, or make videos. By making content that is interesting and useful, you can get more people to visit your website and improve your chances of getting higher on search engine results pages. Optimize Your Website: You need to optimize your website to make it show up more often in search results. Using keywords in your text, meta tags, and headings is one way to do this. You should also make sure that your website works well on mobile devices, loads quickly, and is easy to use. A well-optimized website is more likely to rank higher in search engine results and get more traffic from search engines. Use social media: Social media is a great way to promote your material and bring people to your website. By sharing your information on social media, you can reach more people and get them to check out your website. You can also connect with your followers and get to know them through social media. Use email marketing. Email marketing is a good way to stay in touch with your audience and get people to visit your website. You can use email newsletters to let your subscribers know about your new content, promote your goods, or offer them special deals. You can build a loyal crowd that is more likely to visit your website if you use email marketing. Influencer marketing is a way to spread your brand by working with people who have a lot of followers on social media. By teaming up with people who have a lot of followers, you can reach more people and get more people to visit your website. Influencer marketing can also be used to build your brand and boost your reputation in the industry. Guest blogging is a great way to get your name out there and get people to visit your website. By writing guest blog posts for other websites in your field, you can reach a new audience and connect with other writers. You can also put a link to your website in your guest posts, which can bring more people to your site. PR and posting your articles on the best crypto blogs is also a good idea. Do Keyword Research: Keyword research is the process of finding the terms that your target audience is looking for. By doing keyword research, you can make sure that your website and content are optimized for the terms that your audience is most interested in. This can help you get a better ranking in search engine results and get more traffic from search engines. Participate in online communities. Online communities are a great way to connect with your target audience and get people to visit your website. You can take part in industry-related forums, social media groups, or Reddit posts. By giving something of value to the community and getting involved, you can build relationships and get people to visit your website. Use video marketing. Video marketing is becoming more and more popular, and it’s a great way to get people to your website without paying for ads. You can get more people to visit your website and build relationships with your audience by making movies that teach or entertain. Video marketing is another way to get the word out about your goods or services and boost sales. Use local SEO. Local SEO is the process of making your website better for local search results. If you have a storefront, it’s important to use area keywords on your website. This can help you get a better ranking in local search results and get more customers in your area. You can also promote your business and get more people to visit your website by listing it in local directories and on review sites. In conclusion, your crypto company needs a multi-pronged plan to get organic traffic. By using the ten ideas listed above, you can make it more likely that people will visit your website. If you are looking for people who’ll help with crypto SEO, crypto PR company FINPR is a good choice. In the past few years, FINPR has done SEO for 5+ crypto startups as well as crypto media and has SEO Packages for any budget.
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Ruslan Tymofeev: The future of the business world is for young entrepreneurs

Business development trends are growing all over the world. In addition, the audience of businessmen is changing as well by welcoming young millionaires who can make strides at a very early stage. For these trends, Ukraine is gradually introducing alternative education to grow young Ukrainian businessmen. The founder of Adventures Lab venture investment fund, Ruslan Tymofieiev (Ruslan Tymofeev), comments on why investors are heeding the new generation and emphasizes the importance of considering an American approach to developing an entrepreneurial spirit in a child. The business world is very diversified. It is possible to identify what trends and areas are more successful in each country year by year. The way people create and promote their ideas, develop their business plans, and appeal to potential investors to launch their projects underlines the cultural values introduced by each society. Ruslan Tymofieiev believes that an entrepreneurial spirit should be taught at the early age of a child. It starts with simple activities by selling products to potential clients. The investor notes that the United States is an excellent example. 10-year-old kids start selling lemonade to their neighbors and passers-by. They set up a table on the house’s lawn and provide a small business by attracting “clients.” In such a way, kids learn to keep a dialogue with them, so people buy it, drink it, and praise kids for their good job. Later, teenagers become scouts who sell cookies. Here, the business strategy involves a more profound concept. Scouts approach passers-by, and go from door to door, offering their cookies. Thus, they learn to introduce their business idea by explaining why people should buy their cookies and where the money will be contributed. On the other hand, such communication might bring discomfort. However, it reveals the practical basis of running a successful business in the future which is invaluable. Moreover, by pitching and communicating, children exchange experiences that positively affect their business mindset. Ruslan Tymofieiev compares the American concept of raising young businessmen with other countries. For example, Brazil boasts many football players because Brazilian kids play football. Likewise, Africa has great Olympic runners because African kids play Olympic runners. Therefore, the US is the leader in technological progress because raising kids with the mindset of an entrepreneur will know how to build America in the future. When it comes to Ukraine, Ruslan Tymofieiev (Ruslan Tymofeev) notices that Ukrainian women teach their children to avoid talking to strangers. And they have reasons for that. But this leads to poor communication skills in the future. The country indeed has a lot of talented and smart children. They can develop innovative business ideas or revolutionary technology but can’t pitch them appropriately. Taking this into account, GoGlobal’s Business Camp was launched. This project involves an education format that gives children exactly what is the main treasure and the key to success in the modern world. Moreover, it allows the development of crucial skills like communicating, protecting, promoting, and selling their ideas. Ruslan Tymofieiev was invited as a mentor to Business Camp. He shared his knowledge of pitching clients with school participants. The Adventures Lab founder hopes that each participant will benefit from what they have heard in a few years. Today, there is no need to wait till 40 years to run a business. The modern generation of children processes much more information than our parents. Thus, they can become successful young businessmen who make strides at an early age.
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Japan’s Largest Banks to Use Stablecoin System Linked to SWIFT for Cross-Border Payments

Japan’s largest banks—MUFG, SMBC, and Mizuho—plan to use a stablecoin-based system to facilitate cross-border payments in the future. The initiative, known as Project Pax, replaces correspondent banks with blockchain technology, linking it to SWIFT to allow users to initiate payments conventionally using traditional banking rails. Japanese Banks Seek to Eliminate Intermediaries with Blockchain-Based Stablecoin System Traditional financial institutions are starting to appreciate the benefits of blockchain systems and are building frameworks that integrate this technology with legacy transactional rails. Japan’s largest banks—MUFG, SMBC, and Mizuho—are aiming to eliminate correspondent banks, a key figure in completing international payments, in favor of a blockchain-based stablecoin system. The three banks are involved in Project Pax, a cross-border payment platform that enables users to complete international settlements using conventional banking tools, while the blockchain element operates behind the scenes. The platform will integrate with SWIFT, the standard messaging system for international payments, making it so users won’t realize they are using stablecoins for their transactions. The goal is to accelerate the completion of these payments and provide the ability to send them 24/7, leveraging the stability and efficiency of stablecoins. Pax will be based on Progmat, a tokenization network developed by MUFG with support from Mizuho, SMBC, and other institutions. Progmat is also part of a recently announced joint venture with DMM Group, a Japanese entertainment giant, to mint its licensed stablecoin. While no launch dates have been announced for the platform, the Pax consortium expects to start testing a functional prototype with minimal functionality soon. The leading banks are also looking to partner with other international and national institutions to launch this platform in 2025. The acceptance and use of stablecoins in Japan have grown exponentially following the passage of a stablecoin law in 2022, which allowed licensed banks to issue stablecoins linked to the Japanese yen or other legal tender.
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Nigeria Resumes Dollar Sales to Currency Traders Amid Naira’s Decline

The Central Bank of Nigeria (CBN) has resumed selling U.S. dollars to Bureau de Change (BDC) operators in a bid to address the naira’s rapid depreciation. This decision follows the naira’s exchange rate falling to a record low of NGN1,639 per dollar, driven by heightened demand for U.S. dollars, especially for travel and business purposes. To regulate the program, the CBN has outlined strict guidelines for participating currency traders, including a one percent margin on the purchase price and designated locations for submitting requests. Addressing Nigeria’s Foreign Exchange Shortage On September 6, the CBN began selling dollars to BDC operators once again to help meet the retail demand for invisible transactions. Qualified BDCs were offered $20,000 each at a rate of NGN1,580 per dollar, which is expected to help stabilize the naira amidst the ongoing currency crisis. This latest intervention comes after the naira’s exchange rate against the dollar plummeted to NGN1,639, a significant drop that has been largely attributed to increased demand from wealthy Nigerians traveling abroad and conducting international business. Earlier in July, the CBN took similar action when the naira hit what was then a historic low. At the time, the central bank sold U.S. dollars to BDCs at a rate of NGN1,450, while authorized banks were provided over $100 million at exchange rates ranging between NGN1,498 and NGN1,530. This was preceded by an $80 million injection into the market in May. Regulations for Participating Currency Traders In its latest announcement, the CBN provided clear guidelines for BDC operators participating in the program. All BDCs are allowed to sell to eligible end-users with a margin not exceeding one percent above the CBN’s purchase rate. Payments for these transactions must be made in naira to the CBN’s Deposit Account Numbers. Interested BDCs are required to submit their documentation to designated CBN branches located in Abuja, Aba, Kano, and Lagos. This move is aimed at providing some relief to the ongoing foreign exchange shortage while maintaining regulatory oversight on the currency market. As the CBN continues to intervene in the forex market, the focus remains on stabilizing the naira and addressing the broader economic challenges facing Nigeria. Source: news.bitcoin.com
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Revolutionizing Bitcoin Mining: The Power of Three-Phase Systems

Since the advent of the first ASIC miner in 2013, Bitcoin mining has undergone significant advancements, with hardware efficiency improving from 1,200 J/TH to a remarkable 15 J/TH. As we approach the limits of silicon-based semiconductors, future gains in efficiency are increasingly reliant on optimizing mining infrastructure, particularly the power setup. One notable shift is the adoption of three-phase power over traditional single-phase systems. This transition is crucial for enhancing efficiency and scalability in Bitcoin mining operations. Understanding Single-Phase and Three-Phase Power To grasp the benefits of three-phase power in Bitcoin mining, it’s important to understand the basics of single-phase and three-phase power systems. Single-Phase Power: Commonly used in residential settings, single-phase power consists of two wires: one live and one neutral. The voltage oscillates sinusoidally, leading to periods of maximum and zero power delivery. This can result in inefficiencies for high-demand applications, though it’s generally sufficient for residential use. Three-Phase Power: Used primarily in industrial and commercial settings, three-phase power involves three live wires that provide a more constant and balanced power flow. This results in smoother and more efficient power delivery, akin to having multiple people pushing a swing at different intervals, ensuring continuous motion. The Evolution of Bitcoin Mining Power Requirements Bitcoin mining has evolved significantly since its early days. Initially relying on CPUs and GPUs, the introduction of ASIC miners marked a major advancement, offering specialized efficiency for mining operations. However, as mining technology progressed, so did the power demands. For example: In 2016, a top miner achieved 13 TH/s with a power consumption of around 1,300 W. Today, mining rigs require approximately 3,510 W to remain competitive in the market. As mining hardware became more power-intensive, the limitations of single-phase power systems became apparent, leading to the adoption of three-phase power as a more viable solution. Benefits of 480v Three-Phase Power in Bitcoin Mining The adoption of 480v three-phase power systems offers several advantages for Bitcoin mining operations: Efficiency: Three-phase power delivers higher power density, reducing energy losses and ensuring optimal performance of mining equipment. For instance, a load requiring 17.3 kilowatts at 208v three-phase needs 48 amps, while the same load at 480v only needs 24 amps, cutting power loss and wiring costs. Cost Savings: Implementing a three-phase system reduces the need for transformers, thicker wiring, and voltage stabilization equipment, leading to lower installation and maintenance expenses. Scalability: Three-phase power systems are widely available and allow for easy expansion of mining operations without major infrastructure overhauls, making them ideal for growing mining setups. Implementing Three-Phase Power in Bitcoin Mining Operations Transitioning to a three-phase power system involves several key steps: Assessing Power Requirements: Calculate the total power consumption of mining equipment to determine the necessary capacity for the power system. Upgrading Electrical Infrastructure: Install new transformers, wiring, and circuit breakers as needed, working with qualified engineers to meet safety and regulatory standards. Configuring ASIC Miners: Ensure that ASIC miners are compatible with three-phase power or modify older models if necessary. Implementing Redundancy: Install backup generators, uninterruptible power supplies, and redundant power circuits to ensure continuous operation and protect against outages. Monitoring and Maintenance: Regularly inspect and maintain the power system to ensure optimal performance and address potential issues proactively. Conclusion As Bitcoin mining technology advances and chip processing capabilities approach their limits, optimizing power setups becomes increasingly critical. Three-phase power, particularly at 480v, offers significant advantages in terms of efficiency, cost savings, and scalability. By adopting a three-phase power system, miners can enhance their operational efficiency, reduce costs, and future-proof their infrastructure against growing demands. The transition to three-phase power represents a crucial step in the evolution of Bitcoin mining, paving the way for more sustainable and profitable operations. With careful planning and implementation, miners can leverage the full potential of their equipment and maintain a competitive edge in the rapidly evolving cryptocurrency landscape. Source: bitcoinmagazine.com
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Rollbit Coin and Apecoin Lead the Gainers This Week

Top 10 Gainers of the Week

Sun Token and Astar Among the Biggest Losers

Top 10 Losers of the Week

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