Crypto Weekly (Oct 7 – Oct 13): Airdrop Week

Crypto Market Last Week

The second week of “Uptober” saw significant volatility in Bitcoin. The cryptocurrency experienced a notable drop at the beginning of the week but quickly made a strong recovery by the weekend. Bitcoin fell below the $59,000 mark but surged back to $63,000 within just two days, matching its value at the start of the week.

This robust weekend recovery in Bitcoin created favorable conditions for a rally in altcoins, with projects in three key sectors standing out the most: AI, Layer-1, and memecoin.

Notably, this week also marks the occurrence of several airdrop events from prominent projects such as Scroll, CARV, Optimism, and others.

Top 10 Best Performing Coins of Last Week

Top 10 Worst Performing Coins of Last Week

Notable News

• AZC.News Research: Market Overview – October 2024
• Bahrain Launches First Bitcoin Investment Fund
• Binance Announces Listing of Scroll on Launchpool and Pre-Market Trading
• Court Approves FTX Reorganization Plan
• Peter Todd Denies Being Satoshi Nakamoto
• After Bitwise, Canary Capital Files Registration for XRP ETF
• Vitalik Buterin Nominated for Nobel Prize

Token Unlock Schedule This Week

The following token unlocks are noteworthy this week:

• AXS: $60.07 million
• ARB: $49.82 million
• EIGEN: $42.99 million
• STRK: $26.93 million
• ZKJ: $17.27 million
• APE: $11.24 million
• KARRAT: $8.78 million

Macro News This Week

This week, the market’s attention will focus on two key days.

On Thursday (October 10th), at 7:30 PM, the Initial Jobless Claims report will be released. As usual, if the reported number exceeds expectations, it will likely have a negative impact on the USD. Conversely, if the number is lower than forecasted, the USD could benefit.