Here is a biweekly update on the top 20 crypto-projects with the highest average daily new address creations.
- 'tether': No change in rank (1 → 1)
- 'ethereum': No change in rank (2 → 2)
- 'matic-network': No change in rank (3 → 3)
- 'usd-coin': Increased by 4 ranks (8 → 4)
- 'binance-usd': Decreased by 1 rank (4 → 5)
- 'arbitrum': Decreased by 1 rank (5 → 6)
- 'worldcoin-org': Not present in previous data
- 'multi-collateral-dai': Not present in previous data
- 'wrapped-bitcoin': Decreased by 2 ranks (7 → 9)
- 'pancakeswap': Decreased by 4 ranks (6 → 10)
- 'shiba-inu': Decreased by 2 ranks (9 → 11)
- 'xrp': Decreased by 2 ranks (10 → 12)
- 'optimism': Decreased by 1 rank (12 → 13)
- 'pepe': Decreased by 4 ranks (11 → 15)
- 'baby-doge-coin': Decreased by 3 ranks (13 → 16)
- 'chainlink': Decreased by 3 ranks (14 → 17)
- 'stargate-finance': Decreased by 2 ranks (16 → 18)
- 'cheelee': Not present in previous data
- 'space-id': Decreased by 5 ranks (15 → 20)
- 'magic-internet-money': Not present in previous data
【 An Overview of The Newcomers 】
Cheelee is a developing blockchain-based short video platform operating in the GameFi space. Users earn CHEEL tokens for activities like watching, liking, and commenting on videos or referring friends. These tokens can buy in-app items such as NFT glasses, enhancing earnings. Cheelee stands out with its passive earning method, engaging game mechanics, and limited token supply, which may increase the token's value. Its success could influence online earning models and spread cryptocurrency to a broader audience, making it a potential major player in the short video market.
The Worldcoin project, led by OpenAI's CEO Sam Altman, aims to create unique digital IDs for everyone using iris scans. The scans are performed by a device known as "the orb," a silver ball the size of a bowling ball. Once acquired, a Worldcoin ID grants access to services like financial services and social media. Although still in the early stages, it's operating in over 30 countries and plans for more. The project has sparked debate due to privacy implications, but the team maintains the reliability and security of the technology.
MIM (Magic Internet Money) is a stablecoin with a soft peg to the dollar, supported by interest-bearing tokens and is created on the decentralized Abracadabra.money lending platform. The use of interest-bearing tokens gives MIM greater stability over other fiat-backed stablecoins. While being a new entrant, it has quickly soared to popularity. Along with its unique features and popularity, it comes with potential risks such as less establishment and more price volatility compared to traditional stablecoins.
*MVRV (Market Value to Realized Value) ratio gives an idea of how much overvalued or undervalued an asset is.
*The price of an asset reaching blow-off tops or bottoms provides insight into its level of overbought or oversold conditions. This information of the price volatility can prompt the majority of the market participants to decrease their exposure to the asset.