As February approaches, the cryptocurrency market is preparing for exciting developments among various altcoins. Analyst Valdrin Tahiri highlights major updates from Horizen (ZEN), Radiant Capital (RDNT), Injective (INJ coin), Beldex (BDX) and SKALE (SKL), suggesting potential impacts on their prices.
Watch out for INJ coin and those altcoins in February
Critical mainnet upgrade in Horizen
Horizen will enter ZEN 5.0.0, a major mainnet upgrade, via Hard Fork on February 7, 2024. This upgrade introduces changes to protected addresses, increasing privacy through zk-SNARK encryption techniques. Despite the positive news, ZEN price is facing bearish challenges as seen on the daily chart. Valdrin Tahiri outlines potential scenarios, including a 45% increase in the event of an eruption.
Airdrop announcement is critical for Radiant Capital (RDNT)
Radiant Capital caused a stir with the announcement of an airdrop for those who lock in dynamic liquidity (dLP) on Arbitrum until February 16, 2024. Valdrin Tahiri analyzes RDNT’s price movements and points to a potential 16% upside if the $0.29 resistance is breached. Another scenario is a 15% decline if the ascending support trend line is broken.
INJ coin: New dApp launch on the horizon
Injective is notable for the emergence of a new decentralized application (dApp) launched on the mainnet. Valdrin Tahiri emphasizes the importance of watching the symmetrical triangle formation on the daily chart, indicating a potential increase of 20% or a decrease of 22% respectively due to a breakout or breakout.
Hard fork announcement for Beldex (BDX)
Beldex is on the verge of a major transformation with the Bern Hardfork scheduled for February 4, 2024. The update introduces new features through the Beldex Naming System (BNS) and implements a typing mechanism. Despite the bearish descending triangle pattern, Valdrin Tahiri recommends a 28% upside if a breakout occurs.
SKALE (SKL) is the last of the altcoins to watch
SKALE rounds off the list with the introduction of SKALE Chain payments on February 1. Blockchain stands out with its zero gas fees and unique pricing model. Valdrin Tahiri’s analysis points to a potential 30% upside if the SKL price continues to rise. However, there is a 45% decline in case of a break below $0.068. The cryptocurrency market remains dynamic as these altcoins prepare for notable developments in February 2024. Investors and enthusiasts are advised to be careful and monitor these projects closely for potential price movements.
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