The cryptocurrency market continues its rollercoaster ride. Although the leading crypto Bitcoin fell below 37 thousand dollars, it managed to regain it in a short time. Altcoins, on the other hand, present a mixed picture. In this environment, it is very important for investors and traders to monitor projects closely and follow developments. The analyst nicknamed ‘The DeFi Investor’ also contributed to this by publishing his weekly watch list. 7 altcoins from the analyst’s list that you should keep an eye on.
Analyst: Keep these 7 altcoins on your radar!
cryptokoin.comAs you’ve seen from , the market is navigating rough terrain. However, Bitcoin and leading altcoin projects are increasing their resilience. The DeFi Investor states that after analyzing the market, he put 7 tokens on his radar. The analyst also shares what he expects in the world of decentralized finance (DeFi) and crypto. The analyst points to a busy week for Chainlink, Cosmos, dYdX, Frax, Sui, Vertex and Empyreal. The DeFi Investor highlights network launches, crypto halvings, transaction volume growth, and network developments.
Let’s take a look at The DeFi Investor’s list
Chainlink (LINK)
Chainlink is preparing for the upcoming launch of the Staking v0.2 mechanism, which will be released on November 28 at 12pm ET. The Oracle network highlights on its official X page that v0.1 stakers will be able to carry their staked LINK and accrued returns to v0.2 with guaranteed entry for nine days.
Cosmos (ATOM)
Cosmos Hub announced the approval of proposal #848, which reduces the inflation rate of its native token ATOM by 50%. The approved proposal will also reduce the inflation of the altcoin project’s token, ATOM, from 14% to 10%.
dYdX (DYDX)
Decentralized finance (DeFi) protocol dYdX will unlock $524 million worth of tokens for its investors and team on November 28. Notably, DYDX tokens will be launched on the DYDX Blockchain, which is claimed to be not yet supported by centralized exchanges.
Frax Share (FXS)
The analyst also emphasizes that the Frax Share (FXS) halving will take place on December 20. He also notes that this will be followed by the launch of Layer 2 solution FraxChain in January. Additionally, the frxETH V2 audit is officially live and completed. As a result, the developers will make rxETH V2 available on December 12.
Sui Network (SUI)
Token analysis board Token Unlocks shared on X that SUI will be unlocking two abysses worth $48.2 million (8% of its supply) from the Community Reserve and Community Access Program next week. It is possible for such unlock events to seriously affect the price of the relevant altcoin.
Vertex (VRTX)
DeFi Investor also includes Vertex in the list as it surpasses dYdX in trading volume. This increase followed the launch of the ARB Incentive Program. Additionally, it will now be possible to stake VRTX, bringing 30%-50% of the protocol’s revenue.
Empyreal (EMP)
Additionally, EmpyrealSDK’s API will be officially available on Empyreal Hub next week. However, it will be available during v1 releases via its own SDK modules, Telegram Toolkit, Trading Features and more.
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