After the sudden decline at the beginning of the week, the cryptocurrency market has witnessed a modest revival. Bitcoin is trying to reclaim the $70,000 threshold and aim for a new all-time high. Fed Chairman Jerome Powell’s dovish speech was effective in this revival. Market participants perceived this announcement as a signal of relief. Amid these developments, crypto expert Justinas Baltrusaitis recommends that these 3 altcoins be on the radar of investors.
The first cryptocurrency: Ethena (ENA)
Ethena (ENA) experienced massive growth after airdropping its governance token to users. As you follow on Kriptokoin.com, the token later entered the list of major exchanges such as Binance. Thus, it achieved a significant market value. Meanwhile, the project also received the support of Arthur Hayes, co-founder of BitMEX crypto exchange. Ethena introduces an innovative synthetic dollar protocol that aims to disrupt the decentralized finance (DeFi) segment. Thus, it provides users with a stable alternative that reduces volatility.
However, this exciting growth comes with potential risks in an uncertain environment. That’s why investors should be careful. The crypto community is expressing concern that a situation similar to the collapse of the Terra ecosystem could occur. There are also market players like Andre Cronje who have warned about Ethena Labs’ incentives and potential parallels.
At the time of writing, ENA was trading at $1.10 with a 60% weekly gain.
Bitcoin Cash (BCH) ranks second is coming
Bitcoin Cash (BCH) attracts attention next week due to price increases and uncertainties arising from halving. BCH has surged 15% in the last week, lagging the overall crypto market. According to analysts, this momentum is likely to continue. The halving on April 4 caused different reactions in the market. While some think prices will rise due to decreasing supply, others are worried about a sell-off. The impact of the halving is still unclear. It also indicates increased volatility along with speculation about the future direction.
There is also an increase in BCH interest in Bitcoin ahead of its halving. Technical analysis gives signals that the rise will continue. However, there are mixed signals that also point to a potential pullback. BCH is worth watching as a noteworthy asset with increased volatility in the coming week. The value of BCH was $690 at the time of writing. This indicates a daily increase of 0.66%.
The last cryptocurrency: Pendle (PENDLE)
Pendle Finance (PENDLE) price has seen a significant rise in recent days. The coming week attracts attention due to the significant price increase. The token has gained 55% in value in the last seven days. Thus, it has emerged as one of the hottest cryptocurrencies in the market. This increase is in line with significant growth in other key metrics on the platform. Notably, DeFiLlama data shows that Pendle’s total value locked has reached $4.116 billion. This represents an impressive growth of over 1,600% in 2024 alone. Hence, Pendle solidifies its position as one of the largest DeFi yield protocols.
It is possible to attribute this increase in value to several factors, including the resurgence boom in Ethereum (ETH) and increased trading of Ethena’s synthetic Dollar USDe-related yield tokens. The price increase also earned the token praise from influential figures in the industry. Arthur Hayes expressed his admiration for the project. He also described it as “the future of decentralized finance.” At the time of writing, PENDLE was trading at $7.18, an increase of almost 30% in the last 24 hours.
The opinions and predictions in the article belong to experts and analysts and are definitely not investment advice. We strongly recommend that you do your own research before investing.
To be informed about the latest developments, follow us twitter‘in, Facebookin and InstagramFollow on and Telegram And YouTube Join our channel!