This is without a doubt an excellent start to the week. The total market capitalization is back above $1 trillion. It is also the week of the much anticipated Ethereum merge, and Bitcoin is doing very well too.
On-chain metrics indicate that new bitcoin addresses are on the rise, and the hash rate has risen sharply. This means that this is an excellent time to start scouting for cryptocurrencies with strong underlying factors that can help them outperform the market.
One of the major factors to consider when exploring potential high-return cryptocurrencies is news. At a time when the entire cryptocurrency market is booming, crypto is likely to shine with news.
To help you maximize your potential gains this week, here are three cryptocurrencies that we believe are strong enough news to outpace Bitcoin and Ethereum in the week.
Near Protocol (Near)
Near Protocol (NEAR) is easily one of the top cryptocurrencies that could turn parabolic this week. The news surrounding the Near Protocol is that the Near Foundation has started a VC fund and a lab to support Web 3.0 innovations.
The $100 million fund aims to attract content creators and franchise owners, among other key participants, to help build the next generation of Web 3.0 applications. This is a big deal as it lays the groundwork for increased activity on the NEAR protocol, making it one of the most important layer-1 solutions on the market today.
While this is a long-term target, it is a big deal for near-term investors in the short-term. This is because as the news hits the market, investors are excited about Near’s future as an Ethereum competitor could help prop up the price.
okex
OKEx is a top cryptocurrency exchange that offers over 140 cryptocurrencies to invest in. OKEx takes customer security very seriously, they store almost all of their clients’ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can also use their crypto as collateral for loans on the platform.
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Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited for more experienced investors and it offers a large number of cryptocurrencies to choose from, over 600. Binance is also known for low trading fees and multiple trading options that its users can benefit from, such as; Peer-to-peer trading, margin trading and spot trading.
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1 inch network (1 inch)
Another top cryptocurrency that could outperform the market this week is 1INCH Network (1INCH). The big news around 1INCH today is that the project is increasing its exposure to Ethereum. The move is driving investor enthusiasm around 1INCH, with the merge expected to trigger a rally in the price of Ethereum.
The excitement around 1INCH began last week when it announced that it would distribute 300k Optimism tokens to 1INCH holders. This is exciting because optimism is one of the main Ethereum Layer-2 aims to reduce transaction fees and increase throughput.
This week, 1INCH went further by selling some of its USDT and Shiba Inu to buy Ethereum. This now takes 1INCH Ethereum holdings to $27.7 million. Essentially, this means that if there is an increase in the price of Ethereum during the week, the value of 1INCH could also increase.
Furthermore, by aligning itself even further with Ethereum, short-term investors driven by FOMO could trigger a rally that could easily see 1INCH exceed double or triple digits by the end of the week.
eToro
eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. Its social copy trading features make it a great option for beginners.
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okex
OKEx is a top cryptocurrency exchange that offers over 140 cryptocurrencies to invest in. OKEx takes customer security very seriously, they store almost all of their clients’ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can also use their crypto as collateral for loans on the platform.
Buy 1INCH with OKX today