The cryptocurrency market has taken a step backwards after its early-week rally. Its total cap stands at $1.92 trillion, a drop of 3.7% in the past 24 hours. The vast majority of coins have fallen along with it, with only a handful of smaller altcoins bucking the overall 24-hour trend. Still, most coins are up in the past week, with the conflict in Ukraine seemingly increasing demand for bitcoin in certain quarters. As such, here’s a list of 5 cryptocurrency to see a price boom this weekend.
5 Cryptocurrency to See Price Boom This Weekend
1. Lucky Block (LBLOCK)
LBLOCK is down by 11% in the past 24 hours, at $0.00499261. It’s also flat in the past week, but up by 250% in the past month.
Having become tradable at the end of January, LBLOCK is up by just over 1,000% since. It’s the native token of the Lucky Block lottery platform, which from March 25th onwards will be holding regular draws.
Would-be participants can use LBLOCK to enter each draw. Entrants have the chance to win 70% of each lottery’s jackpot fund, while all holders of LBLOCK will equally share 10% of each fund.
Running on Binance Smart Chain, Lottery Block’s mission is to make the time-honoured concept of a lottery more transparent. It also aims to give each LBLOCK holder a stake in its platform, hence the sharing out of 10% of each lottery pot.
Lucky Block’s mission and philosophy has already generated a considerable amount of excitement. It now counts around 41,600 holders, and recently celebrated being the ‘fastest coin in history’ to reach a market cap of $1 billion.
$LBlock is the fastest-growing #cryptocurrency in history 🔥
That’s right, we hit 1 billion market cap faster than #ADA, #BNB, #ETH, #SHIB and all the other #cryptocurrencies!
Thank you, #LuckyBlockArmy! 🚀#BSCGem #crypto #LuckyBlockHits1Billion #HODL #ToTheMoon pic.twitter.com/7bl7DFqwMk
— Lucky Block 🤞 (@luckyblockcoin) February 21, 2022
LBLOCK is currently listed on PancakeSwap and LBANK Exchange. It’s also launching its own range of non-fungible tokens, limited to 10,000.
Requirements for purchasing Lucky Block #NFTs 🤞
Each of the 10,000 NFTs mints for $1,500 and to be eligible to buy a potential owner must hold $1,000 in Lucky Block tokens 🚀
Get your $LBlock now at https://t.co/c3zY3rwnG7 to make sure you’re eligible to buy our #NFT! 🔥
— Lucky Block 🤞 (@luckyblockcoin) February 27, 2022
2. Bitcoin (BTC)
BTC is down by 3.7% in the past 24 hours, dropping to $41,654. Despite this dip, it remains up by 8.6% in the past week, and 7% up in the last 30 days.
BTC’s technical indicators show that it’s had a topsy-turvy week. Having peaked at 80 a few days ago, its relative strength index (in purple) — which indicates momentum — has now dropped down to 30. Similarly, its 30-day moving average (in red) had also shot up a couple of days ago, but is now sinking towards its 200-day average (in blue). This could suggest that its rally was short-lived, or it could indicate a good time to buy as BTC prepares another surge.
It’s possible that the conflict between Ukraine and Russia has actually increased demand for BTC. There are reports that more people in Ukraine and Russia are now buying bitcoin, as sanctions hit the Russian ruble and Ukrainians try to avoid restrictions on money withdrawals. How long this effect will last, however, is anyone’s guess, although the episode does once again show that bitcoin serves as some kind of alternative store of value for countries undergoing economic hardship.
As the biggest cryptocurrency by market cap, BTC can be traded on nearly every crypto-exchange and brokerage.
3. Ethereum (ETH)
ETH is $2,733 right now, representing a fall of 5% in the past 24 hours. This also represents a 5% rise in the past week, but a 5% drop in the last 14 days.
ETH’s indicators are much like BTC’s, revealing a loss of momentum after some bullish signs. However, overselling can indicate that now’s the time to acquire an asset at a discount, and this could be the case with ETH right now.
Either way, ETH is always a cryptocurrency to watch as far as potential price boom’s go. 2022 should be a big year for the coin, with its transition to a proof-of-stake consensus mechanism mooted for “Q2 2022.”
This transition will make Ethereum more scalable, efficient and cost-effective. It already accounts for the biggest DeFi ecosystem in the cryptocurrency sector, with $111.6 billion in total value locked in. This is likely to shoot up following the much-anticipated ‘merge,’ resulting in more demand for ETH.
At the same time, staking will result in an ETH supply squeeze. Over eight million ETH was already staked in the PoS smart contract as of December, and this number will only increase once PoS is live.
8.88 million $ETH now staked. ♨️
— zkNick.eth 🦇🔊 (@0xEther) December 28, 2021
At the same time, nearly 2 million ETH has been burned since the EIP-1559 update of last summer. Combined with staking, this burning of gas fees could result in Ethereum being deflationary. This is why we’ve listed it as one of 5 cryptocurrency to see a price boom this weekend. It can be traded pretty much anywhere.
4. Waves (WAVES)
WAVES is up by nearly 6% in the past 24 hours. At $19.39, it’s also up by 100% in the past week and by 113% in the past month.
WAVES’ indicators show incredibly strong momentum right now. The thing is, it remains 54% below its all-time high of $43.01, set last May. This suggests its rally could continue for a while yet.
A stack of decentralized open‑source technologies to help developers build scalable Web3 apps, Waves is rallying largely because it’s undergoing a series of important developments this year. Most notably, it’s transitioning to Waves 2.0, which will introduce significant scalability enhancements. It will also see the arrival of Waves DAO, opening its governance up to its community, something which should invite increased involvement.
🤝 Waves DAO will upgrade the old futarchy concept and launch a new generic governance model, with applications going far beyond blockchain technology.
🎮 Level 0 Inter-Metaverse Protocol on Waves will help connect different games and metaverses
— Waves 🌊 (1 ➝ 2) (@wavesprotocol) February 10, 2022
WAVES can be traded at Binance, FTX, Upbit and Coinsbit.
5. Cosmos (ATOM)
ATOM is another altcoin that, contrary to the rest of the market, is up today. At $33.93, it’s risen by 4.5% in the past 24 hours and by 36% in the past week.
ATOM’s indicators also show strong momentum over the past few days. Its 30-day moving average continues to rise well above its 200-day, indicating that its rally could continue for a few more days yet.
ATOM is rallying largely because its native platform, is enjoying increased usage. Designed as an inter-network of multiple layer-one blockchains, Cosmos has been attracting increased usage recently. Its total value locked in rose to $17 billion in February, making it the second-biggest ecosystem after Ethereum.
⚛️The @cosmos ecosystem is heating up and is now #2 by TVL behind Ethereum.@terra_money @cronos_chain @osmosiszone are currently the largest blockchains, and are connected via Cosmos’ Inter-Blockchain Communications (IBC) protocol.@OFernau reports👇https://t.co/H7rAJZkZhm
— The Defiant (@DefiantNews) February 18, 2022
Another factor helping ATOM is the creation of an exchange-traded product listed by 21Shares in Switzerland. This has opened its market up to bigger/institutional investors, while its growing interconnectedness with Ethereum has opened it up to the general crypto ecosystem. This is why we’ve listed it as one of 5 cryptocurrency to see a price boom this weekend.
1/7 Today in @cosmos:
The first Cosmos ETP went live yesterday after @21Shares announced the listing. This product will be traded against CHF, EU, and USD on Switzerland’s SIX Exchange.https://t.co/KkY9Wd4xTR— Cosmos ⚛️ Croatia 🇭🇷 (@CosmosCroatia) January 21, 2022
ATOM can be bought from most major crypto-exchanges and brokerages, include eToro, Binance and Coinbase.
Capital at risk
Read more:
Credit: Source link
