Bitcoin hit its lowest level today since the Terra ecosystem internally combusted a week or two ago. But just as it seemed time to throw the smartphone at the wall in disgust, the OG crypto rebounded. Well, a bit.

And vaguely related to BTC price matters, Rito Rhymes – an intellectually minded crypto rapper from New York – was just now chatting with Stockhead via Zoom. Full interview with him to be revealed next week, but here’s a quick taster…

“If you think innovation is measured in market price, think twice.. utility always precedes the roll of speculative dice.”

Word.

 

Top 10 overview

With the overall crypto market cap at roughly US$1.3 trillion, down 1.5% since this time yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.

BTC has resumed its recently favourite, arse-indented position on the top-10 crypto couch – about halfway between US$29k and US$30k.

Earlier, though, it took a hefty dip down close to US$28k, while crypto’s second in command, Ethereum (ETH), stumbled to around US$1,780.

As Crypto Twitter briefly contemplated fears of serious goblintown prices (see Guggenheim CIO Scott Minerd’s latest prediction), some were even pointing the finger at “goblintown” itself. With tongue in cheek, that is…

The term “goblintown”, incidentally, is one that crypto natives use to describe bearish market conditions.

goblintown.wtf is a new NFT “project” we mentioned the other day. It’s a bit hard to explain. Actually, it isn’t. It’s 10,000 digital pics of goblins – with no utility, no Discord group, no roadmap… just a website and a whole bunch of bufoons on Twitter making weird, childish, goblin-like sounds at each other.

Hmm, isn’t that how Bored Ape Yacht Club sort of started? That one kicked off back in April 2021 with a 0.08 ETH mint and a bunch of grown adults (presumably) making monkey noises.

goblintown.wtf was free at genesis, but earlier today hit a floor price of 2.1 ETH (about US$3,900) – even in this market. NFTs – sometimes it really does feel like a crapshoot.

Bored Ape Yacht Club’s NFT floor price, incidentally, is currently sitting at 88 ETH (about US$166k), which is more than a 57% drop from its peak of about 153.7 ETH, just around a month ago.

 

Uppers and downers: 11–100

Sweeping a market-cap range of about US$10.5 billion to about US$533 million in the rest of the top 100, let’s find some of the biggest 24-hour gainers and losers at press time.

DAILY PUMPERS

• Chain (XCN), (mc: US$2 billion) +23%

• Celo (CELO), (market cap: US$658 million) +6%

• The Sandbox (SAND), (mc: US$1.7 billion) 2%

 

DAILY SLUMPERS 

TerraClassicUSD (USTC), (mc: US$573 million) -46%

• STEPN (GMT), (mc: US$568 million) -32%

• Terra Luna Classic (LUNC), (market cap: US$876 million) -28%

• Elrond (EGLD), (mc: US$1.67 billion) -15%

• Loopring (LRC), (mc: US$657 million) -14%

 

Uppers and downers: lower caps

Moving below the crypto unicorns (in some cases well below), here’s just a selection catching our eye…

DAILY PUMPERS

ICHI (ICHI), (market cap: US$31 million) +43%

• Unilend Finance (UFT), (mc: US$16.7m) +17%

• XCAD Network (XCAD), (mc: US$103m) +14%

• Stafi (FIS), (mc: US$20m) +11%

Orchid Protocol (OXT), (mc: US$85m) +10%

 

DAILY SLUMPERS

Astroport (ASTRO), (market cap: US$6.6m) -74%

STEPN Green Satoshi Token_BSC (GST), (mc: US$385m) -48%

• Step App (FITFI), (mc: US$45.6m) -23%

Aurory (AURY), (mc: US$21m) -22%

Mirror Protocol (MIR), (mc: US$46.7m) -21%

 

Around the blocks

https://twitter.com/TenaciousEth/status/1529820995254722560