The crypto market recently experienced a significant boost with $1.18 billion flowing into digital assets, largely due to the launch of a spot Bitcoin ETF. This surge in investment didn’t surpass the record set by the Bitcoin futures ETF in 2021 but marked a substantial increase in trading volumes, reaching a record $17.5 billion. Bitcoin led the inflows, with other cryptocurrencies like Ethereum, XRP, and Solana also benefiting. The launch of these ETFs is expected to significantly impact retail investment in the sector.
With a significant influx of money and the introduction of ETFs to the market, certain cryptocurrencies could experience record gains in the upcoming weeks and months. That is why we prepared a list of the six best-performing cryptocurrencies that have a chance to grow this week.
5 Hottest Trending Cryptos to Buy for Your Portfolio This Week
- ScapesMania: A promising new project in presale, offering early backing opportunities at discounted rates.
- Cardano (ADA): Experiencing a bullish trend with potential for significant price increases.
- Chainlink (LINK): Showing strong growth with potential resistance challenges ahead.
- Cosmos (ATOM): Faces market changes due to proposed inflation rate adjustments.
- Sei (SEI): Maintains a bullish market sentiment with potential for upward movement.
- Aptos (APT): At a critical juncture with a significant token unlocking event.
ScapesMania: A Newcomer to the Crypto Scene
In the current market circumstances, ScapesMania emerges as an appealing opportunity for early adopters. This groundbreaking project has raised more than $4,393,000 solely from the crowd/retail sector, consistently securing $43,000-$111,000 in funding daily. ScapesMania is gaining traction on tier-1 crypto media platforms and receiving endorsements from recognized crypto influencers.
Key Highlights of ScapesMania
ScapesMania is not a regular crypto asset; it’s a vibrant gaming ecosystem that caters to the interests of both casual players and crypto-savvy audiences. As a gamer, there’s no need to deal with the complexities of crypto to enjoy captivating gameplay. On the flip side, token holders can reap the rewards of the ecosystem’s performance and shape its future without playing.
The above-mentioned upsides were enough for crypto whales to choose ScapesMania and it should probably be enough for you as well. The project has undergone audits by industry-leading security-ranking companies, instilling confidence in early adopters. ScapesMania is already making waves on major tracking websites, and negotiations are underway to get it listed on prominent exchanges.
During its presale stage, ScapesMania is priced at $0.00769. With the listing price set at $0.01 per coin, today’s backers could be looking at a potential +30% return, which implies that ScapesMania is going to outperform all major asset classes and beyond. S&P 500, gold, bonds, and even the cryptocurrency market as a whole are not expected to reach such returns in 2024 and there’s a possibility of the project’s ROI exceeding the above-mentioned number. Post-listing, ScapesMania is going to develop even further to reach new heights.
Joining ScapesMania now unlocks a treasure trove of bonuses, totaling up to 107%, along with exclusive opportunities like token buyback & burn and staking.
With today’s 25% discount, ScapesMania tokens are a steal. As each subsequent sales stage unfolds, the price is set to grow, reaching $0.01 per token as the presale concludes. The countdown to major potential success is almost over with the listing date fast approaching, so do not miss out.
Secure higher gains by grabbing a sizable bonus of 10% on ScapesMania! Use code CTY116 at checkout in a special textbox for an even better deal on a cryptocurrency that could make you the envy of the entire crypto community. Act fast – the offer is valid for a limited time only.
Cardano (ADA): Navigating a Potential Breakout
Cardano (ADA) has recently shown signs of a potential upward trend. After a period of trading within a horizontal range since November 2022, Cardano (ADA) experienced a breakout in October 2023, reaching a new yearly high of $0.68 in December. Despite a subsequent decline, Cardano (ADA) bounced back, indicating a bullish sentiment. The weekly Relative Strength Index (RSI) presents mixed signals, suggesting a hidden bullish divergence, which could imply the continuation of the current trend.
Cardano (ADA) price movement is currently influenced by its attempt to break out from a descending resistance trend line. Technical analysis, including the Elliott Wave theory, suggests that Cardano (ADA) is in the final wave of its increase, which began in June 2023. A breakout from the resistance trend line could lead to a significant price increase, potentially reaching resistance levels between $0.80-$0.90.
The future of Cardano (ADA) price hinges on its ability to break out from the current resistance. If successful, Cardano (ADA) could see a 55% increase to the next resistance levels. However, a fall below $0.46 would invalidate this bullish prediction, potentially leading to a decrease towards $0.40. The market sentiment is cautiously optimistic, with some analysts predicting a parabolic rise after breaking out from the $0.60-$0.70 range.
Chainlink (LINK): Poised for Upside Movement
Chainlink (LINK) has demonstrated impressive growth in the past month, despite a correction since late December. Analysts have identified a strong demand zone for LINK between $14.8 and $15.2. With limited resistance, Chainlink (LINK) is well-positioned for potential growth towards the $20 mark.
Chainlink (LINK) price rally faces key resistance levels at $15.55, $16.69, and $16.92. Overcoming these levels could clear the path towards $20. However, in the event of a price correction, Chainlink (LINK) lacks significant support walls, with the first support level around $14.22 and further support at $13.31 and $11.
The future direction of Chainlink (LINK) price is balanced between bullish momentum and potential selling pressure. A sustained bullish trend could see Chainlink (LINK) reach $20, but a price correction could test lower support levels. The Chainlink (LINK) ecosystem’s growth in key metrics, including market capitalization and revenue, adds to the optimistic outlook, although the recent decline in earnings suggests caution.
Cosmos (ATOM): Inflation Rate Adjustment Proposal
Developers of Cosmos (ATOM) have proposed reducing the minimum inflation rate of Cosmos (ATOM) to 0%. The current inflation rate is between 7% and 20%, and the proposal aims to align with other blockchain models by potentially transferring protocol revenue from emerging consumer chains to Cosmos (ATOM) stakers.
The proposal to reduce Cosmos (ATOM) inflation rate has sparked discussions within the community. Concerns have been raised about the potential impact on Cosmos (ATOM) stakers and the overall ecosystem tokenomics. Over 60% of Cosmos (ATOM) is currently staked, and the proposal’s outcome could influence the token’s market dynamics.
The decision to reduce Cosmos (ATOM) inflation rate could have significant implications for its price and staking appeal. A lower inflation rate might attract long-term holders but could also discourage current stakers. The community’s response and the proposal’s outcome will be crucial in determining Cosmos (ATOM) future price trajectory.
Sei (SEI): Bullish Outlook and Price Consolidation
Sei (SEI) has exhibited a strongly bullish outlook on higher timeframe charts. The token rallied significantly from its low in December, reaching a peak in early January. Despite some retracement, the demand for Sei (SEI) remains strong, and the market sentiment is bullish.
Sei (SEI) is currently trading within a range, with key support and resistance levels identified on the one-day chart. The market structure is bullish, and the RSI aligns with this sentiment. The token has been consolidating, suggesting a potential upward push in the near future.
Sei (SEI) future price movement could be influenced by its consolidation phase, with potential buying opportunities at key support levels. The eagerness of futures market participants indicates bullish conviction, but this could also lead to a prolonged consolidation to shake out over-eager traders. A move towards $1 and beyond is possible, but traders should exercise caution and proper risk management.
Aptos (APT): Token Unlocking and Market Response
Aptos (APT) is set to unlock over 24 million tokens, constituting over 8% of the circulating supply. This unlocking event is significant, as it introduces additional assets into circulation. The token’s daily volume has shown a notable upswing, with the highest volume in over five months recorded recently.
Aptos (APT) has experienced fluctuations in its price, with recent setbacks followed by rebounds. However, the token has struggled to sustain gains, as indicated by consecutive losses in its daily timeframe chart. The current price decline has brought Aptos (APT) close to crossing below the neutral line on its RSI, signaling a weakening of its bullish trend.
The impending unlocking event raises questions about its impact on Aptos (APT) volume and price trends. While current expectations are optimistic, the introduction of extra tokens into circulation could affect the market dynamics. Aptos (APT) future price movement will depend on how the market absorbs the additional supply and whether the token can maintain its bullish momentum amidst potential selling pressure.
The current crypto market is experiencing a significant upswing, with a notable $1.18 billion inflow into digital assets, largely driven by the introduction of a spot Bitcoin ETF. This development has led to a record trading volume of $17.5 billion, indicating a robust and maturing market. Amidst this positive trend, six cryptocurrencies have emerged as top contenders. In the current market, it does seem like it’s going to ScapesMania, the innovative gaming ecosystem, that is going to probably enjoy the biggest growth overall.