Top cryptocurrencies likely to rally in the week

Top cryptocurrencies likely to rally in the week
фото показано с : coinjournal.net

2022-8-11 23:52

The cryptocurrency market started the week with low momentum and continues trending sideways mid-week. However, there are cryptos that have a lot to look forward to, that could make gains towards the end of the week. Of the large cryptocurrencies that could do well in the course of the week, here are among the top ones to keep an eye on today.

Bitcoin (BTC)

Bitcoin (BTC) hasn’t had a good week so far, especially with all the news of high inflation coming from all the major economies. However, news coming from Iran could help propel the top crypto within the week. The news indicates that the country has imported its first batch of goods in crypto. This is a big deal as it is a validation for Bitcoin as a means of payment. This is likely to create FOMO around Bitcoin, especially now that Bitcoin is holding strong above $20k.

Ethereum (ETH)

Ethereum (ETH) is one of the cryptocurrencies that have the potential to make big moves in the course of the week. This has a lot to do with news about a possible fork ahead of the Ethereum merge. If such happens, then there could be a rush by investors to buy Ethereum in anticipation of getting some free coins after the merge. At the same time, there is a lot of expectation that after the merge, the value of Ethereum could go up. That’s because it comes with a lot of expectations about a reduction in Ethereum scaling issues and overall Ethereum gas fees. All this, coupled with Ethereum price resilience in the last few days, could see ETH record gains throughout the week.

Axie Infinity (AXS)

Axie Infinity (AXS) completes the list of the top cryptocurrencies that could do well in the course of the week. That’s because AXS is currently trading at a low of 90% from its most recent highs. However, the price is improving, and most investors have seen an improvement in the price recently. Data shows that only 22% of all AXS investors are currently in a loss. As more investors turn profitable, AXS could see FOMO and turn profitable in the week.

The post Top cryptocurrencies likely to rally in the week appeared first on CoinJournal.

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Источник: coinjournal.net

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Institutional investors had FOMO’d into bitcoin with the release of the first Bitcoin ETF. This enthusiasm quickly died down the week following the approval as trade volumes plummeted. The record opening was quickly replaced by lackluster momentum that saw institutional investors pull out of the market, likely owing to the asset touching a new all-time high and traders taking gains.

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