As the Price of Ethereum (ETH) Rises, Here Are the Tokens Worth Keeping an Eye on This Week
The post As the Price of Ethereum (ETH) Rises, Here Are the Tokens Worth Keeping an Eye on This Week appeared first on Coinpedia Fintech News
Bitcoin dominance is plunging, due to which the price of BTC has been trading sideways for a while. This has enabled the second-largest token, Ethereum, to breach its crucial resistance and achieve new yearly highs above $3130. Although the token is facing some bearish heat, it is expected to maintain a healthy upswing throughout the week. In such a case, here are some altcoins listed by a popular analyst, Mile Deutscher, that may undergo a significant upswing this week.
Uniswap (UNI)Uniswap displayed an iconic rally by printing a ‘God candle’ of an 80% single-day jump, which has lifted the token above the bearish influence. The fee switch proposal came out to be the news of the week as the decision on it is underway. Expecting a positive outcome, other DeFi tokens such as CRV, COMP, AAVE, FXS, RUNE, GMX, etc. may also have a positive impact. While the bears have capitulated on the token at the moment, a small rise in bullish strength may revamp the bullish trend.
Blur (BLUR)The Blast Layer-2 is expected to go live this week, which may impact the BLUR price as it is its native yield, L2, which is going to be airdropped. BLUR stakers will receive tokens from the airdrop, which may be further integrated into the ecosystem. This may flash positive signals for the token, which could visit new highs.
Xai (XAI)Things appear to be heating up in the Arbitrum space, as the announcement of the ArbDAO’s gaming grants system has generated a lot of buzz. As XAI is the leader in this sector, when the XAI stake goes live, it may fit the broader gaming narrative, impacting the XAI price in turn.
DyDx (DYDX)Following Uniswap’s news, the DyDx price has made a substantial jump. Moreover, it is about to undergo a major unlock this week, which may entice some recipients to sell. Therefore, a decent flip from the dip may be underway.
Ribbon Finance (RBN)After the RBN & AEVO merger, the launch of the Aevo is making huge waves within space. It intends to open up its rollup for the other protocols to build on it, which is expected to gather huge exposure to the pre-markets & IOU markets. This may gain huge attention, specifically with the number of new token launches.
Pepe (PEPE)Being relatively bullish on Ethereum, Pepe has maintained a silent trend. Each time the ETH price soars, the PEPE price trades relatively lower. However, it can be considered a sleeping gain that needs to be monitored closely.
Coti (COTI)Coti’s price has witnessed a massive spike, with a more than 100% jump. They have lined up a lot of things this week, including their new privacy enabling L2, which could be a hot narrative with the upcoming Dencun upgrade.
Apart from this, the analyst mentions Frax (FXS) and Rollbit Coin (RLB), which could also incur decent gains. FXS is expected to switch to revenue sharing, similar to Uniswap, while RLB has been underperforming for months; hence, an explosive movement could be imperative.
Ethereum is expected to continue to exhibit strength, specifically against Bitcoin. However, Justin Sun is reportedly assumed to fuel buying pressure with the purchase of over $500 million in ETH, due to which the levels could remain elevated throughout the week. In the meantime, altcoins are also expected to maintain an elevated trend.