5 Altcoins to Watch this Week

The world of cryptocurrency can be highly volatile, with sudden fluctuations in the values of digital assets. Despite recent banking crises, Bitcoin has surged past the $28,000 mark, with other altcoins following its lead. In this article, we discuss five of the most vital tokens in the crypto world to watch out for.

GMX: A platform for decentralized spot and swap transactions, GMX facilitates these transactions without requiring permission. Its native token, GMX, serves as a value-accrual token, governance, and utility. By staking this token, users can earn rewards and protocol fees. Its Arbitrum and Avalanche networks allow for seamless cryptocurrency trading by connecting wallets. The GMX token is set to be listed on Kraken this week, which has made headlines. Trading is scheduled to begin at approximately 14:30 UTC on March 21, and the token is currently trading at just over $82 after a 22.7% price jump over the past 7 days. The current market cap sits at $707 million.

Lido Finance: Lido Finance is a decentralized finance platform that enables users to stake Ethereum (ETH) tokens on Ethereum 2.0. Staking ETH involves holding the cryptocurrency in a wallet and locking it in a smart contract to uphold and secure the network, earning rewards in ETH as a result. Lido simplifies the staking process for users, allowing them to stake their ETH and receive stETH tokens, which represent the staked ETH and any rewards earned. It aims to boost staking accessibility by overcoming obstacles, such as technical expertise, high fees, and minimum ETH holdings. The stETH token is usable in other DeFi activities, such as borrowing, lending, trading, and liquidity provision. Ethereum’s transition to a functional Proof-of-Stake network is nearing completion, with the Shanghai Upgrade enabling validators to withdraw the rewards they earned. The last Goerli testnet is set for March 20. At the time of writing, Lido’s token, LDO, traded at $2.52, marking a 5.50% increase over the past seven days, with a market cap of $2.15 billion and a TVL of almost $10.71 billion. The 1-day trading analysis (TA) from TradingView signals neutral investor sentiment, with 10 TA indicators advising neutral signals, and 8 signals on the oscillators. Moving averages suggest a buying opportunity at 9.

EOS: EOS is a decentralized, blockchain-based platform that enables businesses and individuals to create, host and execute dApps. It allows companies of all sizes to develop dApps using the same approach as traditional web applications. EOS offers secure access and authentication, data hosting, usage management, permissions, and communication between dApps and the internet. It helps users to create and deploy efficient and scalable decentralized applications to suit their business requirements. EOS’s last testnet will take place on March 27, with the token currently trading at $1.17 after an 11.25% weekly price surge, with a $1.26 billion market cap. The summarized 1-day TA shows a buying opportunity, with a strong estimated technical analysis and moving averages suggesting “strong buy” at 16 and 14, respectively. Two “buy” signals represented in the oscillators.

Polygon: Polygon is a scaling solution for Ethereum that operates as a “layer two” or “sidechain” service beside the Ethereum blockchain, providing low fee and quick transactions. MATIC, the network’s native cryptocurrency, is used for governance, staking, and product fees. Voters can engage in governance by voting on updates to the Polygon network. The launch date for the beta network of zero-knowledge Ethereum Virtual Machine (zkEVM) on Polygon, an Ethereum scaling project, is set for March 27. As of writing, MATIC trades at $1.17, a 2.5% increase over the previous seven days, with a market cap of over $10.28 billion. The technical analysis suggests a bullish signal, with a 1-day TA pointing to a “buy” signal with 14 indicators. Oscillators are down with 8 signals on “neutral.” Moving averages suggest a “strong buy” at 12.

Helium Network: Helium is a blockchain network that employs Hotspots, global decentralized devices, to offer long-range connectivity to IoT devices at a low cost and high speed. Its goal is to provide a decentralized wireless network, ultimately making the world a more connected and cost-efficient place. PoC, or Proof-of-Coverage, is used in the protocol to reward users for verifying location and connectivity. It makes sure the network is stable, safe, and incentivizes participation. Helium is planned to migrate to the Solana blockchain on March 27. The market has negatively reacted to this news, with a price drop of more than 28% over the past week. HNT is currently valued at $1.58 and has a market cap of $221.4 million. TradingView’s 1-day trading analysis signals bearish market sentiment, with “sell” and “strong sell” from moving averages at 14 and 13, respectively.

In conclusion, these five tokens have been significant players in the world of cryptocurrency recently. However, it is essential to remember that cryptocurrencies can be extremely volatile, and prices can suddenly drop or increase. Therefore, it is crucial to conduct your research before investing.


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