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The cryptocurrency market has a slow start to the week. Bitcoin trading volumes are low and there is no major news that could trigger a major market move today. It looks like Despite all this, some cryptocurrencies have great potential for an amazing uptick in the week. Below are some cryptos that could give investors a good return on investment this week.
It is quite possible that the merge is already built into the Ethereum (ETH) price. This is evident in Ethereum’s recent price action from below $1000 to highs of $2000.
That said, the next Merge will continue to be a hot topic this month. As such, money may continue to flow into Ethereum compared to other cryptocurrencies. This could see Ethereum surpass other cryptocurrencies this week.
Ethereum is already one of the few large-scale cryptocurrencies that is currently green. This is an indicator that momentum is still gaining momentum and is a good choice for cryptocurrency investments to watch this week.
Binance Coin (BNB) It is one of the best performing cryptocurrencies on the market today. Binance Coin is currently trying to break the $300 mark, and buying volumes are increasing.
One of the reasons Binance Coin has an edge over many other cryptocurrencies in the current market conditions is the perception that it is safe. Unlike most cryptocurrencies that don’t have much use value, BNB is the cryptocurrency that powers the Binance ecosystem. Used to pay fees for exchanges and other Binance related products.
With the price of Binance Coin showing positive price action, it is highly likely that crypto investors will look to the cryptocurrency in the short to medium term.
Things have been pretty rough on Solana (SOL) over the past few weeks, but the SOL token price is holding up pretty well. This week, Solana could benefit from a new feature being added to the Solana Phantom wallet named ‘Burn NFT’. This new tool aims to reduce fraud within the Solana ecosystem.
This new feature allows investors to get rid of fraudulent NFTs while also earning SOL tokens by doing so.Buying volume skyrocketed as investors heeded this opportunity to profit from Solana could lead to higher prices in the short to medium term.
Among the top 100 cryptocurrencies on the market today, Klayton (KLAY) is one of the few currencies in green at the beginning of the week. Since July, the Klaytn team has made a lot of progress to make this crypto the best it can be when it comes to NFTs. For example, DeFi Kingdom recently announced it was moving to Klaytn. This is a big deal and could play a role in boosting KLAY’s price in the short term.
