Weekly Crypto Standouts: CEL’s 339% Surge, BNX’s 15% Decline

News.bitcoin.comPublished on 2024-09-23Last updated on 2024-09-23

On Monday, Sept. 23, 2024, the crypto market reached a total value of $2.22 trillion, marking a 1.3% increase in just 24 hours. Over the past week, bitcoin (BTC) climbed 8.7% against the U.S. dollar, while ether (ETH) enjoyed an impressive 15.8% rise. However, other digital currencies outshined both top coins, posting even larger gains.

Biggest Crypto Movers of the Week: CEL Surges, BNX Slides

Celsius network’s token (CEL), tied to the now-defunct Celsius firm, skyrocketed 339% against the dollar, making it the only three-digit performer over the last seven days. Trailing CEL was paal ai (PAAL) with a 73% increase.

Weekly Crypto Standouts: CEL’s 339% Surge, BNX’s 15% Decline — CEL/USDT on Sept. 23, 2024.

Immutable X (IMX) saw its value jump 48%, while sui crypto (SUI) moved up by 42%. Other notable gainers included ARKM (+41.25%), AERO (+38.95%), APT (+37.09%), and MOG (+29.06%).

Beyond BTC, ETH, and stablecoins, SOL was the leader in trading volume this week, followed closely by BNB, XRP, SUI, DOGE, NEAR, PEPE, and ONDO. Despite the general market upswing, a few tokens—around six—took a hit, losing between 5% and 15%.

Binaryx (BNX) was the biggest loser, dropping 15.04% against the U.S. dollar. Catizen (CATI) followed with a 14.10% loss, while trust wallet token (TWT) fell by 11.51%.

Dogs (DOGS) shed 10.43%, fasttoken (FTN) slipped by 7.71%, and rollbit coin (RLB) dipped 5.55% in the past week. Despite this week’s rally, it’s surprising to see a token like CEL, with no active use case, surge so dramatically—momentum that likely won’t stick around.

What do you think about the crypto market action this past week? Share your thoughts and opinions about this subject in the comments section below.

AAVE Rallies 30% in a Week, Is It Back on Track?

Over the past week, the price of AAVE surged from around $70 to nearly $100, a rebound exceeding 30%. This occurred despite Aave's TVL continuing to decline following the Kelp DAO security incident. The price movement was partly driven by market rumors, first reported by CoinDesk, that Kraken was negotiating to acquire a stake in Aave. While Aave founder Stani Kulechov denied the specific terms, he confirmed discussions with multiple parties about purchasing Aave Labs' AAVE tokens. He also revealed ongoing work on Tokenomics 3.0, featuring an automated buyback mechanism, and plans to expand into securities-backed lending. Analysts remain optimistic about Aave's long-term prospects. Standard Chartered gave an extremely bullish $3,500 price target for 2030, citing DeFi revival and RWA tokenization. Grayscale offered a more conservative one-year target of $175. However, competitors like Morpho are gaining traction, with recent reports highlighting its advantages in capital efficiency and customization. Morpho also secured a massive $175 million funding round. Fundamentally, Aave maintains its dominance as the leading DeFi lending protocol. Its TVL is nearly double that of second-place Morpho and rivals the combined total of the next several competitors. Key metrics like active borrowing, total supply, and revenue significantly outpace rivals. While Aave faces challenges from newer, more flexible protocols, its deep liquidity and established position make it a preferred choice for large, yield-seeking users. The article concludes that despite setbacks, Aave's long-tested protocol merits ongoing attention in a market with increasingly scarce quality projects.

Foresight News5m ago

AAVE Rallies 30% in a Week, Is It Back on Track?

Foresight News5m ago

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bitcoinist23m ago

SecondFi Outlines Two-Week Recovery Plan After $2.4 Million Cardano Wallet Breach

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Real-life 'Black Mirror' Pumpfun Go: 40 Yuan to Lick Toilets, 14,000 USD for a Logo Tattoo on the Forehead

The article discusses the controversial new platform "Pumpfun Go," a bounty task platform launched by the meme coin platform Pump.fun. Its slogan is "Pay anyone to do anything." The platform allows users to anonymously post tasks with cryptocurrency rewards, which are held in escrow until completion and verification. The piece highlights extreme and disturbing tasks that have gained notoriety, such as licking a gas station toilet floor for roughly $5.63, eating live insects, getting a company logo tattooed on one's forehead for $14,000, and even a now-removed $700,000 bounty for suicide. These tasks are often linked to promoting specific meme coins by generating shocking, attention-grabbing content. While some tasks involve community-building or charity, critics, including New York Governor Kathy Hochul, condemn the platform for exploiting economic desperation and encouraging humiliating or dangerous behavior. They argue it mirrors dystopian narratives from shows like "Black Mirror" and movies like "Nerve," where online dares escalate for viewers' entertainment. Supporters and some participants counter that the platform provides much-needed income opportunities for the financially struggling. One user claimed the bounty money far exceeded his monthly salary. The article concludes by questioning the morality of a system where the wealthy pay for spectacle and the poor trade dignity for survival, reflecting a long history of public consumption of others' suffering. It suggests hope may lie in future technological abundance freeing people from such desperate choices.

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Foresight News31m ago

Faked Trades, Clone Websites, 1105 Videos: Polymarket Under CFTC Scrutiny

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Real-Life 'Black Mirror' Pumpfun Go: 40 Yuan to Lick a Toilet, $14,000 to Tattoo a Logo on Your Forehead

Pumpfun Go, a bounty task platform launched by the meme coin platform Pump.fun, is facing intense controversy. The platform's slogan "Pay anyone to do anything" has manifested in real-world tasks where participants perform increasingly extreme or demeaning acts for cryptocurrency rewards. These tasks range from licking a gas station toilet floor for roughly $5.63 to getting a permanent "bounty.fun" logo tattooed on one's forehead for $14,000. Other completed challenges include eating live insects and quitting a job on camera. The highest-value active bounty offers approximately $560,000 for climbing Mount Everest and placing a bet on a specified platform. While some tasks involve promoting meme coins or community events, the platform has drawn widespread criticism for incentivizing the exploitation of economic desperation. Participants, often citing "we need money" as their motivation, complete these tasks for sums that can far exceed their regular income. Critics, including New York Governor Kathy Hochul, have condemned Pumpfun Go as a dystopian system that commodifies human dignity and preys on the vulnerable. Supporters argue it provides a novel income opportunity for those in need. The debate highlights deeper societal issues around power, inequality, and the historical human fascination with spectacles of humiliation. The platform's existence raises questions about the ethical limits of anonymous online markets and the persistent reality where financial need forces individuals to trade their dignity for survival.

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