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<\/div>\n<\/div>\nSo, that was the crypto market\u2019s September (aka Septembear<\/em>).<\/em> As England\u2019s former Test batsman Paul Collingwood said when Aussie legend Adam Gilchrist retired: \u201cThank God for that\u201d.<\/p>\n There\u2019s no guarantee October will be any better, but let\u2019s take a look at what performed and didn\u2019t over the past 30 days.<\/p>\n If we\u2019re looking just at Bitcoin as the leading crypto market barometer, September (-3.1%) wasn\u2019t quite as bad as generally feared, as you can see from the Bitcoin monthly returns table below.<\/p>\n Beginning the month at about US$20k, BTC closed it around US$19,300. Not a terrible drop in crypto terms, but there was certainly a lot of choppiness and mixed sentiment in between (see CoinGecko chart below).<\/p>\n October, sometimes referred to as \u201cUptober\u201d in the cryptosphere, is usually <\/em>one of the top three months for crypto investors judging by the data. So there\u2019s some hope floating round for the next few weeks \u2013 based largely on past performance.<\/p>\n That said, these are obviously pretty extraordinary times for macroeconomics. It\u2019s probably way<\/em> too much to hope for another 2017 or 2021, but we might offer a small prayer to the fickle crypto portfolio gods that we don\u2019t have a repeat of 2011.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n Terra Luna Classic (LUNC) (+79.7%) led the gains for the month, by a considerable margin.<\/p>\n We\u2019ve occasionally flagged the trading\/investing risk on this one, given the controversial recent history of the Terra brand.<\/p>\n Terra (LUNA) (+42.4%) also makes the top gainers\u2019 list, while its founder, Do Kwon, is reportedly wanted by Interpol for apparent violations of South Korea\u2019s Capital Markets Act.<\/p>\n It\u2019s a little confusing, but LUNC is the original<\/em> Terra LUNA coin, while the one now called LUNA (also known as LUNA2) was created as an airdrop by Kwon as part of a \u201cregeneration\u201d strategy for the Terra ecosystem.<\/p>\n In May we witnessed the implosion of Terra\u2019s LUNA network, in which billions of investor dollars were lost, triggering a domino-like \u201ccrypto contagion\u201d effect that brought down or severely damaged several high-profile platforms and crypto-market entities.<\/p>\n Why do these coins continue to see occasional pumpage? Whales might well be having their fun so it\u2019s definitely been an \u201center at own risk\u201d trade.<\/p>\n That said, LUNC did have a direct reason for at least part of its recent surge. It could be put down to an announcement from crypto exchange Binance, which is reportedly planning to implement a \u201cburn mechanism to burn all trading fees on LUNC spot and margin trading pairs\u201d. This should effectively cut the token\u2019s supply.<\/p>\n \u00bb Binance To Implement Terra Classic (LUNC) Burn Mechanism<\/p>\n Quick thread on what we\u2019re doing and why below.https:\/\/t.co\/b86RlCGPmv<\/a><\/p>\n \u2014 CZ 🔶 Binance (@cz_binance) September 26, 2022<\/a><\/p>\n<\/blockquote>\n \u00a0<\/p>\n As for XRP, at the time of writing, it\u2019s up more than 12% over the past 24 hours and close to 50% for the entire of September.<\/p>\n The money transfer network and digital currency was created by Ripple Labs, which is still in the thick of a much-publicised and bitter legal dispute with the US Securities and Exchange Commission. The SEC contends that the initial token sales of XRP in 2018 violated US Securities laws. Ripple strongly disputes this.\u00a0<\/span><\/p>\n A win for the SEC would set a worrying precedent for the vast majority of the crypto industry, especially all projects that engaged in ICO (initial coin offering) token sales. A win for Ripple Labs would be seen as a huge boost \u2013 not only for XRP but for crypto in general.<\/span><\/p>\n There have been developments in the legal case this month that are potentially seen as favouring Ripple Labs\u2019 chances of a victory. Hence the XRP pumpage. To get the bigger picture, check out our recent articles on the subject\u00a0here<\/span><\/a>,\u00a0here<\/span><\/a>\u00a0and\u00a0here<\/span><\/a>.<\/span><\/p>\n \u00a0<\/p>\n It can be harder sometimes to pinpoint why certain coins have fared worse than others. Particularly when they appear to be solid projects with solid fundamentals.<\/span><\/p>\n Evmos (EVMOS) (-36.7%), for instance, had a\u00a0banging August<\/span><\/a>, leading the top 100 crypto gains in that month, which was based around excitement for its fee-burning network upgrade that\u2019s all about sustainable growth for the token model.<\/span><\/p>\n There\u2019s been nothing to suggest the September Evmos dip has been warranted, so perhaps it\u2019s a case of buyer fatigue or \u201csell the news\u201d, a la Ethereum and its headline-dominating Merge<\/a>. Ethereum (ETH), incidentally was also an ultimately double-digit loser in September (-12.7%).<\/span><\/p>\n Synthetix (SNX) was another notable September decliner and yet there seems to be a hell of a lot going on with the protocol in terms of DeFi \u201cbuilding\u201d and upgrades.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n \u00a0<\/p>\n Lastly, zooming out a tad, here then, were the top 10 winners and losers from the top 300 cryptos by market cap, with thanks again to CoinGecko\u2026<\/p>\n<\/div>\n \u00a0<\/p>\n What the fungible is Dejitaru Tsuka (TSUKA)? Admittedly it\u2019s flown under Coinhead\u2019s radar, but it\u2019s pumped more than 167% over the past 30 days or so.<\/p>\n A quick glance tells us it\u2019s a \u201cmeme coin\u201d ERC-20 (Ethereum-based) token. And according to The Daily HODL website<\/a>, it\u2019s rumoured<\/a> to have been created by \u201cRyoshi\u201d \u2013 the same developer behind Dogecoin\u2019s main canine-coin competitor, Shiba Inu (SHIB).<\/p>\n Considering Shiba Inu\u2019s history of absolutely outsized stupendous gains (in its earlier days), then perhaps it\u2019s little wonder this one has had a bit of a pump on the back of another, older narrative.<\/p>\n Per CoinGecko stats, SHIB is presently up 19,838,473.6% from its near-inception low back in 2020. TSUKA is, at the time of writing, up 883% from its all-time-low about two months ago.<\/p>\n What does it do, and what\u2019s its point? That doesn\u2019t seem easy to answer.<\/p>\n \u201cDejitaru Tsuka touts itself as a decentralized community centered around meditation, reflection and research,\u201d wrote The Daily HODL.<\/p>\n The Dejitaru Tsuka dragon is the \u201charbinger of abundance and wealth\u201d, according to the meme coin\u2019s website, which cites Japanese lore.<\/p>\n Today, 26 September 2022, marks our 4 month anniversary <\/p>\n We would like to take this opportunity to celebrate YOU 💜<\/p>\n All the amazing sangha members who have built this beautiful community together 🙏<\/p>\n Take these 2 minutes to rejoice in some heartwarming community messages $tsuka<\/a> pic.twitter.com\/gXVtdG4Lqk<\/a><\/p>\n \u2014 TSUKA (@Dejitaru_Tsuka) September 26, 2022<\/a><\/p>\n<\/blockquote>\n Righto. In any case, we might keep a bit of a non-financially advised eye on it. Meme coins can sometimes be a bit of leading indicator for crypto-market hype and frothiness.<\/p>\n Overall, though, despite a somewhat tepid September for crypto price action, it still very much feels like the year of living even more dangerously than usual for risk markets.<\/p>\n There\u2019s been the odd talk of it on Crypto Twitter here<\/a> and there<\/a>, but we wouldn\u2019t bet too<\/em> heavily on the Fed making a surprise pivot before the end of the year to start up the money printer once again.<\/p>\n That said, the UK just announced they\u2019re doing exactly that<\/a> amid crazy inflation levels there, so who da hell knows what these central bankers are actually thinking and planning.<\/p>\n investing in 2022:pic.twitter.com\/vuo990sUj1<\/a><\/p>\n \u2014 yzy.eth (@LilMoonLambo) September 29, 2022<\/a><\/p>\n<\/blockquote>\n \u00a0<\/p>\n \u00a0<\/p>\n <\/p>\n![\"\"](\"https:\/\/stockhead.com.au\/wp-content\/uploads\/2022\/10\/Screen-Shot-2022-10-02-at-9.49.30-am-scaled.jpg\")
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September\u2019s leading gainers and losers in the top 100<\/h2>\n
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Terra firmer (than it was in May)<\/h2>\n
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The Ripple effect<\/h2>\n
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\nTop 10 gainers and losers in the top 300: What\u2019s TSUKA?<\/h2>\n
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