The stock markets have been showing signs of recovery, but the same cannot be said for the crypto markets, as Bitcoin is still below the $60,000 mark. This may change after the Federal Open Market Committee (FOMC) meeting and minutes this week, in addition to economic data reports.
With that, let’s see what cryptocurrencies to watch this week.
Rumors of a potential spot Litecoin (LTC) exchange-traded Fund (ETF) have triggered a substantial price surge amid speculation of growing institutional interest. Given Litecoin’s functional similarities to Bitcoin, some believe the SEC might be more inclined to approve it, possibly even before an Ether ETF.
The cryptocurrency is currently trading at $67, with nearly 10% growth in the past seven days.
Founded by cryptocurrency entrepreneur Justin Sun in 2017, the Tron blockchain network aims to decentralize the internet. By hosting decentralized applications, also known as dApps, it intends to provide an alternative to the Ethereum blockchain network.
Tron’s native token has experienced significant growth in recent days, coinciding with the launch of a new platform called SunPump, designed to facilitate the creation and promotion of meme coins. Since the launch, meme coins on the Tron blockchain have surged in both popularity and value. Sun also noted on X that Tron is outperforming expectations, which further boosted the token’s price.
Tron is trading at $0.13 with over 8% increase in the past seven days.
Fantom is an open-source, decentralized smart contract platform that was created as an alternative to Ethereum.
Earlier this year, the Fantom Foundation announced that the Fantom network will migrate to the Sonic network. This move is expected to bring substantial liquidity, attract more users, and introduce new protocols. Along with rebranding and new use cases, the migration is likely to generate significant interest within the crypto community. Moreover, Andre Cronje, the Co-Founder & architect of the Fantom network, has now become CTO of Sonic Labs.
Fantom is trading at $0.38, with over 8% jump since last week.
Earlier this year, Monero, along with other cryptocurrencies, was delisted from Binance and other crypto exchanges for not meeting the standards, leading to a drop in price.
Despite this, the cryptocurrency has been experiencing growth in recent days. This indicates an increasing buying pressure, resulting in a bullish market sentiment and more money flowing into Monero.
During the past week, the cryptocurrency has gained over 5% and is currently trading at $155 per coin.
Developed by Korea’s leading IT company, Kakao, Klaytn is a public blockchain built to drive the future of the on-chain world. It is known for low transaction latency, enterprise-grade reliability, and a developer-friendly environment.
Recently, the Kaia DLT Foundation announced its incorporation into the Abu Dhabi Global Market (ADGM). With this milestone, the network’s price has surged in recent days. Klaytn is currently trading at $0.15, having grown by over 17% in the past week.
