Bitcoin, Solana, and These 5 Cryptos Have Significant Events That Could Help You Profit This Week
Cryptocurrency investor account “@TheDeFiInvestor” shared on Twitter his watchlist for the coming week, highlighting major upcoming events that could impact prices and present money-making opportunities for crypto traders.
Bitcoin Eyes Fed Meeting
First on the list is Bitcoin, with TheDeFiInvestor noting “the first FOMC meeting of 2024 is on Wednesday next week.” The Federal Open Market Committee’s (FOMC) policy decisions can influence Bitcoin’s price, so traders will be eyeing the January 31-February 1 meeting for any surprises.
Solana Airdrop Landing
Solana also makes the watchlist as blockchain project Jupiter has its highly-anticipated token airdrop scheduled for January 31. Jupiter boasts higher volumes recently than top decentralized exchange Uniswap, so interest around the airdrop could boost Solana’s price.
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Show more +Pendle TVL Growth
Pendle is seeing rapid growth in total value locked (TVL), which refers to the overall value of crypto assets deposited in its decentralized finance protocol. High TVL signals increased platform adoption and activity. Pendle is also launching new reward pools for its REST token, further incentivizing users to stake tokens and boosting demand.
dYdX Token Unlock
On February 1st, decentralized exchange dYdX will have $91 million worth of its exchange tokens (10% of supply) unlocked. These tokens likely belong mostly to early investors and team members, who may sell once liquid. This influx of sell pressure could depress dYdX’s token price.
Picasso Network Solana Restaking
Picasso Network is launching Solana’s first “restaking” feature today. Restaking automatically compounds staking rewards, saving users hassle. Picasso’s vaults will offer this on Solana staking, making PLUG tokens more attractive to hold long-term. More PLUG staking would boost its price.
EigenLayer Airdrop Mining
EigenLayer, a privacy protocol, has its token airdrop on February 5th. TheDeFiInvestor notes depositing crypto to EigenLayer before then makes users eligible for free token rewards. Increased deposits to try capturing airdrops could support near-term price strength.
OP Token Unlock
OP is the governance token of the Optimism blockchain. According to TheDeFiInvestor, on January 30th there will be a sizable OP token unlock event, with $76 million worth of tokens becoming liquid.
For those looking to capitalize on crypto volatility around major events, it will be a busy week to watch according to this investor’s event-driven watchlist.
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