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Top 10 Gainers Of The Week: $USUAL, $MOVE, And $HYPE Lead Amid Market Volatility

While the broader crypto market faced significant turbulence this past week, a few tokens stood out by defying the downward trend. Among the top performers were newly launched tokens like $USUAL, $MOVE, and $HYPE, which maintained their bullish momentum. Even stablecoins showcased remarkable resilience, providing stability amidst the chaos. Interestingly, $Fartcoin and $BGB also moved counter to the market sentiment, continuing their upward trajectory. Top 10 Gainers in the last 7 days Amidst the bloodbath market, newly launched $USUAL , $MOVE , and $HYPE continued their impressive uptrend, while stablecoins showcased resilience during market turbulence. Also, $Fartcoin and $BGB are moving against the market. pic.twitter.com/eohXLRtA0L — CryptoRank.io (@CryptoRank_io) December 20, 2024 One of the standout tokens, $USUAL, gained significant traction in the market for tokenized U.S. Treasury bills. Two prominent market makers, GSR Markets and Amber Group, have played pivotal roles in $USUAL’s success. – Amber Group: Responsible for market making 12 million $USUAL tokens, Amber currently holds 1.6 million tokens worth $2.54 million, making it one of the top 12 holders. – GSR Markets: With market-making activities for 8 million $USUAL tokens, GSR now holds 2.76 million tokens valued at $4.4 million, ranking as the ninth-largest holder. 万红从中一点绿 GSR Markets 和 Amber Group 为近期 RWA 新秀 $USUAL 的做市商 Amber：做市数量 1200 万枚，当前持仓 160 万枚（254 万美金），为当前持仓 Top12 地址 https://t.co/VPwkTU4cD5 GSR：做市数量 800 万枚，当前持仓 276 万枚（440 万美金），为当前持仓 Top9 地址… https://t.co/aEns7i3J0Z pic.twitter.com/qokr0q3IdY — Ai 姨 (@ai_9684xtpa) December 20, 2024 $USUAL boasts the highest market share in tokenized U.S. Treasury bills, surpassing competitors. It has attracted over 15,000 users, far outpacing the combined user base of other protocols like Ondo, BlackRock, and Mountain, which collectively have 5,200 users. Additionally, $USUAL contributes nearly 80% of the total value locked (TVL) for Hashnote, the leading on-chain T-bill provider. $USUAL has the highest market share in tokenized US T-bills right now. Ondo, BlackRock, Mountain, and other protocols have around 5.2K users, while $USUAL alone has 15K users. Around 80% of the TVL for the leading on-chain T-bill provider, Hashnote, also comes from Usual Money. pic.twitter.com/GXqppazGEl — hitesh.eth (@hmalviya9) December 20, 2024 As the market continues to navigate choppy waters, $USUAL’s performance highlights the growing demand for tokenized real-world assets, offering a glimmer of hope for investors seeking stability and growth opportunities. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: peshkov/ 123RF // Image Effects by Colorcinch CoinTurk News

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NFT Gaming Project CyberKongz Receives Wells Notice from SEC

CyberKongz, a gaming-based NFT project, announced on December 16 that it has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC). The notice raises concerns about the platform’s integration of its ERC-20 token with blockchain games and questions aspects of its activities, including its 2021 contract migration. The SEC’s Argument In a post on X, the CyberKongz team expressed their dismay with the agency’s handling of the situation, saying: “We are extremely disappointed at the approach the SEC has taken towards us, but we are going to stand up and fight for a brighter future that holds more clarity for NFT projects.” They disclosed that the issue began two years ago when the regulator first contacted them, during which time they operated quietly and under a lot of pressure. The post highlighted that the SEC’s main concern appears to center on whether ERC-20 tokens can function alongside blockchain games without being classified as securities. CyberKongz argued that this implication could have wide-ranging consequences for the Web3 gaming industry. They also said they are determined to contest the financial watchdog’s position and advocate for a clearer regulatory framework. Another point of contention involves the Genesis Kongz contract migration in April 2021, which the regulator reportedly interpreted as a token sale. The NFT project clarified that the migration was not a primary sale and criticized the SEC’s inability to differentiate between the two, stating: “If they cannot distinguish between a primary sale and a contract migration, what hope do we currently have for a clear regulatory pathway going forward?” The Wells Notice gives the platform 30 days to respond before the SEC decides whether to pursue enforcement action. While not a formal allegation of wrongdoing, such a notice shows that the agency is considering further legal steps. Broader Industry Issue This latest development adds CyberKongz to a growing list of blockchain and NFT entities under SEC scrutiny, including Coinbase, Consensys, Ripple, OpenSea, Uniswap Labs , and Bittrex , which have faced similar notices in recent years. Last month, Australian-based gaming company Immutable also reported receiving such a warning. At the time, they expressed frustrations over vague allegations and unclear regulatory guidelines. However, no further action has been taken since then. Meanwhile, CyberKongz has reassured its community that it remains committed to advancing its work without the burden of silence. It stated that the situation marks a turning point as it continues to advocate for clearer guidelines within the NFT and blockchain industries. The post NFT Gaming Project CyberKongz Receives Wells Notice from SEC appeared first on CryptoPotato . CoinTurk News