These are the 7 Cryptocurrencies to Watch Next Week: Here are the Expectations! –

The cryptocurrency market saw a notable surge in January 2023, with cryptocurrencies following an upward trajectory. This has created excitement among investors and traders who want to see if the trend can continue. That’s why analysts take a look at 7 cryptocurrencies to watch next week.

First cryptocurrency Convex Finance (CVX)

Convex Finance (CVX) is a decentralized finance (DeFi) platform that has seen an increase in price and network development. The Convex Finance token has emerged as one of the surprise packages of the crypto market, with a massive upward price trajectory that broke through key resistance levels. In addition to adapting to the overall crypto market movement, CVX has also benefited from network development, which has seen the platform make updates to its staking mechanism and reward distribution.

The updates target the cvxCR, Convex, and Curve token derivative staking system in Curve. The updates aim to provide additional incentives for users to stake cvxCRV. At the same time, the team proposed changes to platform fees, allocating 2% to buy and stake cvxCRV for the wrap contract, which will reduce cvxCRV circulation and increase the token value for investors. The altcoin remains an asset to watch how the platform will react to the proposed changes and whether investors will profit. At press time, CVX was trading at $6 with daily gains of around 6%.

CVX seven-day price chart

In second place is Hedera (HBAR)

Hedera (HBAR) is brimming with increased on-chain activity helping HBR rise to new heights. With increased on-chain activity, Hedera has witnessed the total value (TVL) locked in its ecosystem reach $38.95 million at press time. In addition, the network’s Non-Fungible Token (NFT) ecosystem is also driving adoption. For example, LG’s Art Lab NFT marketplace recently announced that it will leverage the Hedera NFT platform to form a partnership with renowned restaurateur Jeremy Fall.

As the network tries to migrate Web 2.0 players and programmers to Web 3.0, Hedera has achieved a ranking among the most active cryptocurrencies of 2022. It is worth noting that HBR has risen in line with the overall market and the asset continues to be among the top earners of the year. Specifically, with the crypto market still facing uncertainty, the focus is turning to Hedera holders if they are going to resort to taking profits or if the asset is likely to suffer increased buying pressure. HBAR is currently valued at $0.07, up over 1% daily, down more than 3% on the weekly chart.

HBAR seven-day price chart

Metaverse coin Sandbox (SAND) is also on the list

Metaverse hype picked up in 2023 after the industry appeared to lose momentum in 2022. The renewed buzz has resulted in renewed interest from investors, who continue to pump more capital into related tokens like The Sandbox (SAND). SAND has seen an accelerating price increase following rumors that tech giant Apple could enter the metaverse with the launch of virtual reality hardware this year. Currently, SAND has gained 100% in 2023.

Entering the new week, it will be interesting to see how SAND performs. Because the foundations underlying the metaverse remain weak. Notably, SAND’s price increase is supported by positive buying volume, but the rally may be short-lived, especially if the overall market loses its current bullish momentum. Additionally, the sustainability of SAND’s rally is threatened by the risk of dilution due to the platform’s monthly token unlocks, which will run until the third quarter of next year. Therefore, investors may be forced to sell if the current market rally is invalidated. SAND is worth $0.75 after losing about 6% on the weekly chart.

SAND seven-day price chart

Not to forget the leading cryptocurrency Bitcoin (BTC)

Bitcoin’s impressive rally in 2023 resulted in the asset successfully breaking the $23,000 resistance level. Currently, the crypto is holding above $23,000, gaining over 40% year-to-date after the bulls took out the bears. The rally came after Bitcoin entered a consolidation phase of around five days, despite the crypto market facing renewed bankruptcy filings from established entities.

BTC also responded positively to the White House’s latest update announcing that it has published a roadmap to mitigate cryptocurrency risks. Bitcoin has also received support from renewed regulatory developments, such as Arizona Senator Wendy Rogers making BTC a legal tender in the state. However, technical indicators point to a bearish bias for Bitcoin as the 50-day moving average is in line with a possible ‘death cross’ scenario where the 50-day moving average falls below the 200-day moving average. On the other hand, Bitcoin is likely to experience a ‘golden cross’ formation pattern as the 50-day moving average crosses above the 200-day MA associated with bullish sentiments. Bitcoin is currently trading at $23,456 with daily gains of over 2%.

BTC seven-day price chart

3 metaverse coins worth watching

Analysts also share 3 metaverse coin projects that are under $1 and are worth watching.

Decentraland (MANA)

Decentraland (MANA) describes itself as a virtual reality platform powered by the Ethereum Blockchain that allows users to create, experience and monetize content and apps. In this virtual world, users buy plots that they can then navigate, build and earn money on.

Meanwhile, in the market, Decentraland stands out as the metaverse coin with the highest market capitalization. With a market cap of $1.44 billion, MANA ranks 40th in the crypto league. Currently, MANA is trading at $0.7772. However, the altcoin stands 87% below its all-time high (ATH) of $5.9 in November 2021. On the other hand, according to analysts, MANA still has high potential.

MANA seven-day price chart


CEEK VR is a metaverse project that connects creators with fans, allowing artists to gain attention, reach audiences around the world, and monetize their creative work. According to the project, the platform brings consumers and content creators together, offering both parties a unique experience with an integrated approach.

By the way, it should be noted that CEEK VR has a fairly large fan base in Turkey. Standing out in this respect, the altcoin has signed important partnerships such as Universal and Facebook in the past years. And he managed to make a name for himself with them. At press time, CEEK is trading at $0.1336. However, it is 88.8% down from its $1.20 ATH.

CEEK seven-day price chart


Backed by OKX Blockdream Ventures and Consensys Mesh by Tachyon accelerator, RACA is a Web 3.0 infrastructure solution provider. This altcoin project also attracts the attention of Turkish crypto investors. Another feature that distinguishes RACA from the other 2 metaverse projects is that there are more zeros after the comma. At press time, RACA is changing hands at $0.0002304. On the other hand, the altcoin is standing 98% down from its peak of $0.01189.

RACA seven-day price chart

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