These 5 Cryptocurrency Could See Price Boom This Weekend – Where to Buy

0
28

Join Our Telegram channel to stay up to date on breaking news coverage

The cryptocurrency market has enjoyed a bounce in the past 24 hours, after a mixed week. Its total cap has risen by 6% in the past day, at $1.077 trillion. This is a 5.3% rise in a week, and a 4.7% drop in a month. With Ethereum’s Merge due at some point early next week, the market could see plenty of positive action in the next few days. Accordingly, here’s a list compiling some of the most promising coins in the short (and long) term. These 5 cryptocurrency could see price boom this weekend.

These 5 Cryptocurrency Could See Price Boom This Weekend

1. Battle Infinity (IBAT)

IBAT is up by 1% in 24 hours, at $0.00401539. It is, however, down by 12% in a week.

IBAT’s chart suggests it has just begun an upswing, after bottoming out. With the overall market seemingly about to rally as a result of the Merge, this could very much be the case.

IBAT is one of the most promising new altcoins on the market. It quickly attracted listings since selling out its presale in early August, becoming tradable for the first time on August 17th, via PancakeSwap. LBANK Exchange has also listed it more recently, as well as DEX Coin98. More listings are due soon, all of which will provide it with the liquidity to witness further gains.

Based on Binance Smart Chain, Battle Infinity is a sports-themed gaming metaverse. Still under development, it will feature a variety of NFT-based games, including the IBAT Premier League. The latter will enable players tp build their own fantasy sports teams made up of NFTs of real-life athletes. Said teams will compete against each other, with winners receiving crypto-based rewards.

In time, Battle Infinity will also grow to incorporate other crypto and NFT-based games. On top of this, it will also involve competitive staking feature, its own DEX, and an NFT marketplace. This all sounds very ambitious, which is why IBAT is included in our list of 5 cryptocurrency that could see a price boom this weekend.

2. Ethereum (ETH)

ETH is up by 5% in the past 24 hours, reaching $1,705. This is its highest level in the past two weeks, representing a 7% jump in seven days, while remaining basically flat in a month.

Ethereum (ETH) price chart - These 5 Cryptocurrency Could See Price Boom This Weekend.

ETH’s indicators have hit a very sweet spot. Its relative strength index (in purple) has just passed 50 and is on its way up. Likewise, its 30-day moving average (in red) is due to climb towards its 200-day average (in blue), signalling a breakout.

Now that the Merge is due next week, this breakout could come very soon.. Having successfully completed the final update (Bellatrix) before the shift to PoS, all that’s left to do is execute the Merge. This is due to happen between September 13 (Tuesday) and 15 (Thursday), according to co-founder Vitalik Buterin.

The successful completion of the Merge will give ETH a short-term kick, but it willl also result in the coin becoming deflationary in the longer term. Due to staking, the circulating supply of ETH will shrink, while staking rewards will be smaller than mining rewards. This is why it’s one of 5 cryptocurrency that could see a price boom this weekend.

3. Lucky Block (LBLOCK)

LBLOCK is down by 31% in the past 24 hours, falling to $0.00055653. It’s also down by 57% in a week, but up by 32% in a fortnight.

Lucky Block (LBLOCK) price chart.

LBLOCK’s momentum has dropped off a cliff in the past 24 hours. Its RSI sunk to below 20, and is still around 30. Similarly, its 30-day average is below its 200-day, suggesting that it’s nearing a bottom. This means that it’s oversold, and that now may be a good time to buy it cheap.

What seems to be happening with LBLOCK is that its market has become more volatile after being opened up to much more liquidity. However, in the long-term, it potentially increases the depth of a coin’s market and the demand for it. For example, LBLOCK has recently gone live on Gate.io, while it has also been listed on Uniswap, MEXC Global and LBANK Exchange in the past few weeks. Such listings will be very positive for it in the long run, if only by making it more accessible to more buyers.

Punt Crypto Casino Banner

Now running on Ethereum, Lucky Block is a crypto games platform that enables users to enter prize draws with a minimum guaranteed payout of $50,000. These prize draws launched at the end of May, while Lucky Block has recently expanded its ecosystem to include various NFT-related competitions.

One of Lucky Block’s most appealing features is that holders of LBLOCK can receive rewards for voting for charities that will receive a 10% portion of each prize fund. Such features make it an interesting proposition, which is why it’s included on this list.

4. Lido DAO (LDO)

LDO has risen by 4% in a day, to $1.99. This is 5% fall in a week and a 12% drop in a month.

Lido DAO (LDO) price chart - These 5 Cryptocurrency Could See Price Boom This Weekend.

LDO’s indicators have had a see-saw week, dropping to nearly 30 before jumping back up to 60. It’s likely that this upswing will continue, with its 30-day average forming a golden cross with its 200-day.

Interestingly, LDO has been one of the best-performing top-100 coins of the past 90 days. This is because Lido happens to be one of the biggest multi-chain staking platforms in crypto, with Ethereum’s move to PoS resulting in more demand for Lido’s services. In fact, it’s the largest staking platform for Ethereum staking, so it’s going to benefit substantially from the Merge.

 

In addition, Lido is launching staked ethereum (stETH) — a derivative crypto that is issued when people stake ETH on Ethereum’s new Beacon Chain — on layer-two chains, such as Argent. This ability to deploy stETH on layer-two networks will be very useful to traders who want to use the altcoin for DeFi purposes. By extension, it will inevitably increase usage of Lido’s network, which has already become the second-biggest DeFi protocol in the market in terms of total value locked ($7.5 billion).

LDO can be traded on Binance and MEXC Global.

5. Ethereum Classic (ETC)

At $38.52, ETC has jumped by 4.5% in a day, and by 16% in a week. It’s also up by 5% in the last 30 days.

Ethereum Classic (ETC) price chart.

ETC’s indicators reveal some strong momentum, which is likely to increase into the weekend. Its RSI is up to 60, while its 30-day average is riding out a jump over its 200-day, with room to spare.

ETC is rallying because of the Merge, which Ethereum Classic will indirectly benefit from. That is, it will see Ethereum’s miners becoming redundant, with many likely to move to Ethereum Classic. This will boost the security and strength of the Ethereum Classic’s network, which in the past had been criticised for its susceptibility to 51% attacks. Now, the increase in miners will enhance market confidence, causing a spike in demand.

In fact, hashrate data suggests that miners have already begun moving to Ethereum Classic. According to BitInfoCharts, its rate has more than doubled since mid-July. It will likely continue to increase following the Merge, which is why ETC is one of 5 cryptocurrency that could see a price boom this weekend. It can be traded nearly everywhere.

Your capital is at risk.

Read more:

Join Our Telegram channel to stay up to date on breaking news coverage


Credit: Source link

ads

RELATED ARTICLESMORE FROM AUTHOR

LEAVE A REPLY

Please enter your comment!
Please enter your name here