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Top 3 coins to watch this week
The cryptocurrency market continues decreasing with the global market capitalization falling 3.8% in 24 hours, currently at $2.38 trillion. The latest market decline may be due to traders capitulating due to severe fatigue. Miners have also started selling their holdings as the mining price of one Bitcoin (BTC) surpassed $86,000 last week. BTC ETFs have also started to see increased outflows in recent days. All these developments together could have triggered the market-wide sell-off.
With low prices, it could be a good opportunity for new investors to enter the crypto space. It could also be an opportunity for older investors to buy more assets. Let’s take a look at three crypto assets you might want to watch this week.
Top 3 cryptocurrencies to watch this week
Bitcoin:
BTC is the market leader and other assets follow its trajectory. BTC is down 3.2% in the last 24 hours and more than 6% in the last week. The current price level was tested between the end of April and the beginning of May.
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According to crypto analyst Ali Charts, the price of BTC usually exceeds the cost of mining a coin. There is a possibility that BTC will break above the $86,000 level and reach a new all-time high soon.
Ethereum:
ETH is another cryptocurrency that could soon see a surge in prices. The stock lost 3.8% in the last 24 hours and 5.5% compared to the previous week.
The US Securities and Exchange Commission recently dropped its investigation into ETH. It also approved ETH ETFs, which could launch in early July. Both the developments and the change in BTC’s trend could push ETH to a new all-time high.
Shiba Inu:
Shiba Inu (SHIB) is a very popular cryptocurrency that has witnessed a significant price drop. The SHIB fell 5.7% in 24 hours and more than 16% in the previous week.
Read also: Cryptocurrency: Top 3 Coins That Can Bring Generational Wealth
SHIB has great potential for explosive growth. The drop in prices could present an opportunity for new investors to enter the project.