So, this was the month of September for the crypto market (also known as Septembear). As former England hitter Paul Collingwood said when Australian legend Adam Gilchrist retired: “Thank God for that.”
There’s no guarantee that October will be any better, but let’s take a look at what’s been done and what hasn’t in the past 30 days.
If we were only looking at Bitcoin as the leading crypto market metric, September (-3.1%) wasn’t as bad as it was generally feared, as you can see from the Bitcoin monthly returns table below.
Starting the month at around $20,000, BTC closed it around $19,300. There wasn’t a huge drop in crypto terms, but there was definitely a lot of volatility and mixed sentiment between them (see CoinGecko’s chart below).
October, sometimes referred to as “Uptober” in the cryptosphere, is usually One of the first three months for cryptocurrency investors based on the data. So there is some hope of a floating tour for the next few weeks – largely based on past performance.
However, these are clearly very exceptional times for the overall economy. probably road Lots to hope for in another 2017 or 2021, but we may offer a little prayer to the volatile crypto wallet gods so that we don’t have a repeat of 2011.
The top gainers and losers for the month of September in the top 100 companies list
Terra is more solid (than in May)
Terra Luna Classic (LUNC) (+79.7%) led the gains for the month by a large margin.
We have occasionally reported the risks of trading/investing in this matter, due to the recent controversial history of the Terra brand.
Terra (LUNA) (+42.4%) is also on top of the gainers list, while its founder, Do Kwon, is wanted by Interpol for his apparent violations of South Korea’s capital markets law.
It’s a bit confusing, but LUNC is A native Terra coin LUNA, while coin now called LUNA (also known as LUNA2) was created as an airdrop by Kwon as part of the Terra ecosystem’s “regeneration” strategy.
In May, we witnessed the collapse of Terra’s LUNA network, during which it lost billions of dollars from investors, resulting in a domino-like “crypto-infection” effect that destroyed or severely damaged many prominent platforms and crypto market entities.
Why do these coins keep seeing the occasional pumping? The whales might be having fun, so it was definitely the “enter at your own risk” trade.
However, LUNC had a direct cause for at least part of the recent increase. This could be due to an announcement by cryptocurrency exchange Binance, which is said to be planning to implement a “burn-in mechanism to burn all trading fees on LUNC spot and margin trading pairs.” This should effectively cut off the supply of the token.
» Binance to apply Terra Classic (LUNC) burning mechanism
A quick thread on what we do and why is below.https://t.co/b86RlCGPmv
– CZ 🔶 Binance (cz_binance) September 26, 2022
As for XRP, at the time of writing, it is up over 12% in the past 24 hours and nearly 50% over the entire month of September.
The digital currency and money transfer network was created by Ripple Labs, which is still in the midst of a bitter legal dispute with the US Securities and Exchange Commission. The Securities and Exchange Commission confirms that the initial sales of XRP tokens in 2018 violated US securities laws. Ripple strongly argues this.
A victory for the SEC would set a worrying precedent for the vast majority of the cryptocurrency industry, especially all projects involved in ICO token sales. Ripple Labs’ win will be seen as a huge boost – not just for XRP but for cryptocurrency in general.
There have been developments in the legal case this month that are likely to be seen as favoring Ripple Labs’ chances of victory. Hence the XRP pump. For a bigger picture, check out our recent articles on the topic over hereAnd the over here And the over here.
Evmos Laundry and Synthetix
It can sometimes be difficult to determine why certain currencies are doing worse than others. Especially when they look like solid projects with solid foundations.
Evmos (EVMOS) (-36.7%), for example, had banging augustwhich led the top 100 crypto gains that month, which built on excitement for a fee-burning network upgrade centered around the sustainable growth of the token model.
There was no indication that Evmos’ slump in September was warranted, so it may have to do with buyer fatigue or “news-selling”, similar to Ethereum and its consolidation dominating the headlines. Ethereum (ETH) by the way was also a double digit loser in September (-12.7%).
Synthetix (SNX) was a notable loser in September, however there seems to be a lot of hell going on with the protocol in terms of DeFi “building” and its upgrades.
Top 10 Top 300 Winners and Losers: What is TSUKA?
Finally, minimizing one, then here were the top 10 winners and losers out of the top 300 cryptocurrencies by market cap, thanks again to CoinGecko…
What is a variant of Dejitaru Tsuka (TSUKA)? Admittedly, it’s moved under Coinhead’s radar, but it’s pumped over 167% over the past 30 days or so.
A quick look tells us it’s an ERC-20 (Ethereum-based) “meme coin” token. According to Daily HODL’s websitethat it rumor Created by “Ryoshi” – the same developer behind Dogecoin’s main competitor for dog currency, Shiba Inu (SHIB).
Given the history of the Shiba Inu in quite the massive bonanza (in its earlier days), it’s perhaps no wonder that this one has a bit of pumping on the back of another, older combo.
According to CoinGecko stats, SHIB stock is currently up 19,838,473.6% from its lowest level almost since its start in 2020. TSUKA, at the time of writing, is up 883% from its all-time low in about two months.
What does it do, and what is its purpose? The answer does not seem easy.
The Daily HODL writes: “Dejitaru Tsuka promotes itself as a decentralized community centered on reflection, reflection, and research.”
Dejitaru Tsuka’s dragon is “a harbinger of abundance and wealth,” according to the meme coin website, which cites Japanese traditions.
Today, September 26, 2022 marks the fourth anniversary of the founding of the company
We would like to take this opportunity to celebrate you 💜
All the amazing sangha members who built this beautiful community together
– TSUKA (Dejitaru_Tsuka) September 26, 2022
Right. Anyway, we might as well keep an eye on that for a bit. Meme coins can sometimes be a leading indicator of cryptocurrency market hype and foam.
Overall, although September has been somewhat tepid for cryptocurrency price action, it still looks very much like a year of living more risky than usual for risk markets.
There was weird talk about her on Crypto Twitter over here And the therebut we will not bet very hard on the Federal Reserve, making it a surprising pivot before the end of the year to get the money printer started again.
Having said that, the UK just announced that it is doing exactly that amid crazy levels of inflation there, so who da the hell knows what these central bankers are actually thinking and planning.
Investing in 2022:pic.twitter.com/vuo990sUj1
– yzy.eth (@LilMoonLambo) September 29, 2022
#September #winners #XRP #TSUKA #Terra #coins #pumped #Evmos #Synthetix