Chainlink, dYdX, Kava, and These Cryptos Must Be Watched Closely This Week as They Prepare for Major Updates/Events That Could Catalyze Significant Price Movements
A wide range of cryptocurrencies have major developments on the horizon that could impact their prices and adoption over the next week. According to crypto analyst Layergg, Chainlink, DYDX, KAVA and others have protocol upgrades, unlocks, rebrands and other events forthcoming between November 27th and December 4th.
Chainlink ($LINK)
Chainlink is scheduled to launch a major network upgrade called Staking v0.2 Priority Migration on November 28th. This update provides new staking rewards and incentives for LINK token holders to secure the network and earn returns on their holdings. As a top oracle network with extensive integration, Chainlink upgrades tend to bring heightened usage and attention which can positively impact LINK prices during bullish markets.
DYDX ($DYDX)
Decentralized exchange protocol dYdX faces an important milestone on December 1st with a long-planned unlocking of $500 million worth of DYDX governance tokens. Some investors fear this massive influx could lead to heavy selling pressure. However Layergg points out that if the majority of tokens are instead staked on-chain, prices could rebound quickly. The choices token holders make once unlocked will be crucial.
KAVA ($KAVA)
Kava, a lending and money market platform, is gearing up for the launch of Mainnet 15 on December 7th following a governance vote to upgrade the network. A key component is the elimination of all inflation and minting fees, which is set to make Kavalabs an essentially feeless DeFi ecosystem. Layergg notes this could significantly boost usage and adoption if executed smoothly. Further upgrade details are expected in the coming days.
WAVES ($WAVES)
The CEO of blockchain network WAVES recently revealed in an AMA session that the launch of a major 1.5 upgrade is imminent. This follows the major 2.0 launch over the summer. Additionally, a new syntehetic asset is slated to launch on WAVES in December per the roadmap. Protocol upgrades and new token launches tends to correspond with price appreciation.
Terra Ecosystem Tokens ($LUNA, $LUNC, $USTC)
According to Layergg, Terraform Labs founder Do Kwon was recently granted approved extradition from Montenegro to South Korea in relation to the collapse of the TerraUSD stablecoin earlier this year. This news could send shockwaves throughout Terra ecosystem tokens LUNA, LUNC and USTC, similar to how FTX token FTT was impacted by bankrupty and criminal investigation news.
Virtue Token/Vanar ($TVK)
Virtual asset trading platform Virtue Token (TVK) has been rebranded to Vanar (VANRY) and will begin trading on Binance this Thursday December 1st. Per Layergg, the rebrand coupled with a new Google Cloud partnership, recent Bybit listing and likely addition to Binance futures pairs could result in high volatility and volume for Vanar.
Vertex Protocol ($VRTX)
VRTX saw the highest trading volume across all Perpetual Protocol DEX platforms last week. Layergg notes that token prices on Perp dexes usually correlate tightly with trading volumes and activity. Ongoing Arbitrum rewards are also incentivizing volume which could keep prices and volatility elevated.
Aergo ($AERGO)
Aergo launches a community token denomination vote Dec 1st likely to pass and reduce circulating supply by 10x.
Read also:
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- Expert Reveals the ‘Only Bitcoin Chart You Will Ever Need’, Explains the 5 Phases of BTC Halving
- Javier Milei, a Bitcoin advocate, wins the Argentine Presidential Race; Investors Flock to this Emerging AI altcoin, InQubeta
With fundamental upgrade catalysts upcoming for this collection of top crypto projects, traders and investors would be wise to monitor price action and narratives closely heading into December. The developments could drive increased adoption and token utility in the case of smooth launches or heightened uncertainty if issues emerge.
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