Top Three Altcoins to Watch This Week: DOT, AVAX, and MANA
The price journies of many digital currencies are known to be bullish toward the end of the year. Though the broad crypto industry is seeing a persistent reversal, many are optimistic the bearish turn will help stir a massive upsurge in the coming days.
At present, the global crypto market cap is seeing a 1.41% plunge to $2.45 trillion, a slump that is being fueled majorly by Bitcoin (BTC) and Ethereum (ETH), both of which are far off from their All-Time Highs (ATH).
With a mildly volatile weekend done with, investors are looking forward to another new week in hopes of charting a positive trade history across all markets. Here are three altcoins to watch ahead of the new week.
Polkadot is an open-source sharding multichain protocol that facilitates the cross-chain transfer of any data or asset types, not just tokens, thereby making a wide range of blockchains interoperable with each other. With the protocol’s parachain auctions underway, the demand on the DOT token is rising, and away from the current price plunge, the coming week might hold a better reality for the coin and its holders.
Currently, the token is changing hands at $33.62, down 5.86% in the past 24 hours. The broad ecosystem activities will seek to push DOT to retest its ATH at $55.
Avalanche is one of the most innovative blockchain protocols around today, with the goal of accelerating the switch to the metaverse. Branded as having a higher transaction output of up to 6,500 transactions per second while not compromising scalability, AVAX is one of the Ethereum-killers currently walking the talk today.
Over the past weeks, the coin maintained a bullish growth by breaking its correlation with Bitcoin and surged as high as $146.22 about eight days ago. While it is currently trading at a much lower price of $106, the coin has registered support at $105, and all hopes of bouncing to its new heights in this week cannot be ruled out.
Attentive investors in the digital currency ecosystem will know that we are currently in the season of the metaverse and Play-2-Earn blockchain-backed gaming protocols. Decentraland is one of the protocols that seek to advance this offshoot of blockchain technology, and though it was launched back in 2019, the protocol has just started gaining the steam that is due to its innovation.
Decentraland (MANA) defines itself as a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetize content and applications. The native token has been tagged as one of the best performing of the top 100 in the past week, rising by 31.97 in the trailing 7 days.
While other coins were slipping, MANA was retesting new highs up to $5.90 about four days ago. While the coin is still in its price discovery phase, investors can watch out for how high it will rise this week.
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