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

Time: September 12, 2022 to September 19, 2022

• Just as investors were relieved by the previous week's strong rally, they were slapped in the face by the harsh reality that global financial markets were bloodbathed last week.

• Strangely, the NFT market is quite active compared to the cryptocurrency market. While the price of Ethereum is in freefall following the merger, blue-chip NFT projects are seeing strong buying power. As for the protagonist last week, it is the RENGA series.

In my last column, I explained what the Fed's Beige Book is and how it fueled the market rally. Last Monday's market continued to rise in optimism, and both the stock market and the currency market rose. However, when Americans woke up the next morning, they found that everything had changed. U.S. consumer price index (CPI), also known as inflation data, is released on Tuesday morning. This jaw-dropping data immediately crashed the market, with major U.S. stock indexes recording their worst single-day performance in two years, and Bitcoin plummeting 9.9% in a single day.

More details on CPI: https://www.coinlive.com/news/detail/?id=13057

As is often the case, even if the leading cryptocurrency drops, there are always one or two altcoins that escape. Chiliz (CHZ) was one of the altcoins that made a splash last week. The coin was issued in June 2019 and can be used to acquire fan tokens for sports clubs. CHZ is complemented by a decentralized sports app called “Socios.com,” a comprehensive rewards app for sports fans. We may not be familiar with Socios.com in Asia, but it is one of the most popular sports apps in Europe. Thanks to its partnerships with many sports majors, CHZ has grown in size and recently became an official partner of the 2022 Ballon d'Or. In addition, CHZ also announced the migration from Ethereum back to the original chain CHZ 2.0. Two pieces of good news ignored the bear market and fueled the token's continued upward trend.

Socios.com cooperates with the world's famous sports organizations, and of course Messi

As an active NFT collector, the author has noticed signs of improvement in the NFT market compared to the past few weeks. But at the same time also paid a small price. According to data from the NFT analysis platform NFTGo, the blue-chip NFT index slowly recovered from the past plunge last week, but due to the decline in the price of Ethereum, the monetary value of these blue-chip NFTs has moved in the opposite direction.

Despite the bear market in cryptocurrencies, NFT trading activity is buoyant. Blue-chip NFTs such as Azuki and Doodle, their floor prices rose by 48% and 23% respectively within a week. At the same time, as a blue-chip newcomer, DigiDaigaku, the floor price rose by as much as 82%. If the airdrop is included, the total value of the series is about 20 ETH!

The final focus is the RENGA series launched by RENGA Company. This design studio from Toronto actually triggered the scale phenomenon of the NFT market a few months ago. The company's first NFT collection "The Art of Seasons", known for its refreshing and unique art style, has aroused the "FOMO" sentiment in the market. In less than a month, the floor price of the NFT skyrocketed more than 10 times from the casting price of 0.15 ETH. Due to the cooling of the market and the lack of follow-up hype, the price once returned to the original point. At present, RENGA's latest project is the "RENGA" series with the same name. Although the author has to admit that this artistic style is indeed different, it also gave me a "sense of déjà vu" that history is about to repeat itself. In order to protect precious personal assets, please be sure to stay away from FOMO emotions.