[Inventory] The top 5 cryptocurrencies and NFTs that performed best in the past week

Time: September 26, 2022 to October 3, 2022

• A bottom signal for Bitcoin? The U.S. stock market has had another bad week, but Bitcoin is doing slightly better than the stock market and is doing its best to hold on to the $19,000 mark.

• NFT volumes picked up significantly over the past week thanks to a stunning sale by Cryptopunks, coupled with a strong comeback from the Renga project. In addition, last week the market focused on a new generative art NFT project.

Investors around the world are focusing on macroeconomic data, which, whether good or bad, can trigger bouts of volatility in financial markets. In the first three trading days of last week, financial markets showed signs of rebounding, gearing up for heavy economic data to be released in the next two days. However, initial jobless claims on Thursday were bad news for the Fed. The red-hot labor market showed no signs of cooling as the number of Americans filing new claims for unemployment benefits fell to the lowest level since May. The Fed was again unnerved by annual core PCE inflation data released the following day. Inflation was stronger than expected in August despite the Federal Reserve's efforts to lower the cost of living for people. In view of the fact that the two major economic data have violated the intention of the Federal Reserve, the major US stock indexes have plummeted, and the S & P 500 index has fallen by 3.59% in two days, while the price of Bitcoin is basically flat. It's just that the latter fell 1.9% over the weekend, but the trading volume was not much.

Speaking of altcoins, Terra Classic (LUNC) remains the focus of all cryptocurrencies. The price chart of LUNC looks like a Disneyland roller coaster, with big ups and downs, what happened? Here's the thing: Binance, the world's largest cryptocurrency exchange by trading volume, initially announced that the exchange did not support Terra's tax plan; Binance CEO, CZ also reiterated his position during the AMA on Twitter, Indicates that it will not comply with the currency's tax plan. However, not long after, the LUNC community decided to rise up and boycott Binance (#BoycottBinance) on Twitter. The action so quickly rallied the community that Binance had no choice but to back down. LUNC won the battle, and prices soared.

In addition to LUNC, Reserve Protocol’s native token, Reserve Rights (RSR), has also continued to appreciate in the past two weeks, and is expected to be officially launched on the Ethereum mainnet on October 10. RSR is the Stability Protocol token used to facilitate its algorithmic stablecoin, RSV. Prior to the mainnet launch, Reserve had focused on hyperinflation countries in Latin America and served more than 18,000 merchants. With the launch of the mainnet, the full functionality of the protocol will be unlocked, including the ability for anyone to create stablecoins backed by a basket of ERC-20 tokens.

At present, most new NFT projects based on the Ethereum chain are facing sales difficulties, but blue-chip projects are performing strongly. A rare ape CryptoPunks sold for 3,300 ETH or $4.28 million, the highest ETH sale in the history of a non-alien CryptoPunks. According to on-chain data, renowned cryptocurrency investor Daniel Maegaard sold the ape to an unknown buyer whose wallet had been idle for over 5 years.

Although the pattern of the NFT market in the general environment is not friendly to new projects, the generative art project QQL got rid of this dilemma. The project issued a limited number of 999 NFT minted passes, which were successfully sold out on the day of release, achieving sales of 17 million US dollars. Created by Art Blocks' Fidenza founder Tyler Hobbs and Archipelago co-founder Dandelion Wist, the QQL Minting Pass allows holders to mint the project's official artwork. What is special about QQL is that the caster is also the curator of the artwork. The former can use the generative technology provided by the web to create hundreds or thousands of artworks until they find the perfect artwork to cast.

Don't worry if you can't afford it! You can generate artwork here https://qql.art/create , then right click to save

Disclaimer: The content of this article is a follow-up to the top performing cryptocurrencies and NFTs of the past week. Any views, opinions, research, analysis or other information contained herein are considered general market commentary and do not constitute investment advice. Every investment involves risks, please do your own research and make a decision before investing.