Cryptocurrencies To Watch: Week of November 28

Preserve an Eye on These Cash

The previous week has been one other powerful one for the crypto market, with no indicators of a break above present ranges in sight. The FTX collapse continues to dominate headlines, and its results could not subside for a while.

This week we study Huobi Token (HT), Curve DAO Token (CRV), Litecoin (LTC), Sprint (DASH), and Chainlink (LINK). In choosing these property, now we have thought-about a number of elements, together with, however not restricted to, optimistic technical developments, vital information occasions, and noticeable adjustments in worth.

Key Takeaways

  • The Huobi Token (HT) has jumped up over 50% following a model replace and the reveal of a brand new international enlargement roadmap.
  • The Curve DAO Token (CRV) elevated by 30% after whales pulled a brief squeeze.
  • The worth of Litecoin (LTC) shot up by 20% as sharks appear to be accumulating the asset.
  • The Sprint (DASH) token rallied by 15%, which builders within the ecosystem credited to the coin’s stability and utility.
  • Chainlink (LINK) elevated by 14% because the staff introduced the launch of staking in December.

Huobi Token (HT)

The Huobi token (HT) skilled a worth enhance of over 50% over the previous seven days for a lot of causes. First, Huobi International issued a press launch highlighting that the corporate would bear a model replace. The rebranding will give attention to renaming the corporate to only Huobi and giving “full play to the essential strategic attributes of HT.”

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The press launch additionally revealed a worldwide enlargement roadmap, which incorporates making a presence within the Caribbean area. The corporate may even enhance investments in Southeast Asia and Europe. The enlargement may even sort out strategic mergers and acquisitions. The token was buying and selling for $4.25 final week and is now buying and selling at round 6.25.

HT: TradingView.

Curve DAO Token (CRV)

The Curve DAO Token (CRV) elevated by 30% after crypto whales performed a large quick squeeze on exchanges. The crypto group reported that whales massively plotted a large in need of CRV, then borrowed it on the DeFi platform Aave. They continued to borrow CRV as the costs went down.

After borrowing, they took lengthy positions, shopping for the CRV on alternate and rising the worth. They then allowed the liquidation of their Aave positions, which additional elevated the CRV worth because of restricted on-chain liquidity. The token is at the moment priced at round $0.64.

CRV: TradingView.

Litecoin (LTC)

The worth of Litecoin (LTC) went up by 20% as crypto sharks gathered the token. Addresses holding between $1,000 to $100,000 LTC have collectively gathered $43.4 million in LTC. These addresses are holding a 7-month-high provide. The community skilled excessive on-chain exercise and is now concentrating on the $80 market.

Litecoin is priced at $71.85 on the time of publishing, having began final week at $60.4.

LTC: TradingView.

Sprint (DASH)

Sprint (DASH) rallied by 15% prior to now seven days, with the coin buying and selling at round $39.5. Builders within the ecosystem have attributed this to the steadiness and utility of the token.

Sprint is a tough fork of Bitcoin, which was initially centered on being a privateness coin. It has since turned its consideration to a medium for each day transactions. The venture claims that over 159,000 retailers settle for the DASH cryptocurrency.

Sprint: TradingView.

Chainlink (LINK)

The Chainlink (LINK) token elevated by 14% after the staff introduced that it might launch Chainlink Staking v0.1 on December 6. Staking is an financial safety mechanism that secures the community. Stakers commit LINK tokens to safe the community, for which they’re rewarded with tokens.

Eligibility for staking is decided by on-chain and off-chain exercise. The staking pool shall be capped at 25 million LINK within the beta, with the utmost restrict being 75 million in due time.

The Chainlink token stands at round $6.8 on the time of publishing. It began final week at $5.6.

LINK: TradingView.

Investing in cryptocurrencies and different preliminary coin choices (ICOs) is very dangerous and speculative, and this text shouldn’t be a suggestion by Investopedia or the author to put money into cryptocurrencies or different ICOs. As a result of every particular person’s scenario is exclusive, a professional skilled ought to at all times be consulted earlier than making any monetary choices. Investopedia makes no representations or warranties as to the accuracy or timeliness of the data contained herein. As of the date when this text was written, the creator doesn’t personal the cryptocurrencies talked about above.