Crypto Analyst Shares His Weekly Watchlist Including SEI, AVAX and MATIC, And These Altcoins
The crypto markets look poised for an eventful week ahead, with major protocol upgrades, token unlocks, airdrops, and other developments that could impact prices. Here are the top cryptocurrencies that analyst The DeFI Investor have on their radar.
What you'll learn 👉
Ethereum Fundamentals Aligning for Price Surge
Ethereum (ETH) has its long-awaited Dencun upgrade slated to launch in 24 days. Additionally, a decision on potentially approving Ethereum exchange-traded funds (ETFs) is expected from the SEC this May.
ETFs would allow mainstream stock investors easier exposure to ETH, likely expanding adoption. With bullish tech developments paired with possible regulatory approval, analysts believe Ethereum’s price could benefit.
Nvidia Earnings Critical for AI Crypto Assets
Cryptocurrencies focused on artificial intelligence often have prices correlated with AI chipmaker Nvidia’s stock. With Nvidia reporting its earnings report on February 21st, any positive or negative stock reaction could spread across AI coins. Strong earnings and forward guidance from Nvidia would signal robust growth in AI processing power to support these networks.
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Show more +Blur Prepares Announcement and Airdrop
BLUR is slated to have a major announcement this coming week. The team also confirmed an upcoming airdrop for BLUR stakers and holders, fueled by recent price strength. Speculation is circulating around what the announcement could entail.
EigenLayer Tokens Prepare for Launch
Both KelpDAO and Ether_fi’s EigenLayer scaling solution will release specifics on their tokenomics models next week. Accompanying airdrops are also planned to seed the networks with active participants. Airdrops can draw interest to newer protocols from speculators.
Major Layer 2 Upgrades Going Live
Polygon’s AggLayer V1 mainnet will launch on February 23rd, unifying liquidity across Polygon and aiming to improve the cross-chain user experience.
The Starknet token launch will take place on February 20th. The STARK token currently trades at an $18 billion valuation on OTC markets in anticipation of its mainnet launch.
Sei Network will move their V2 upgrade to the public devnet this week. The mainnet launch will follow afterwards.
Avalanche Token Unlock
On February 22nd, $380 million worth of AVAX tokens will become unlocked. While this is a large nominal amount, it represents just 2.6% of Avalanche’s circulating supply, minimizing inflation concerns.
With major crypto leaders like Ethereum approaching their most monumental upgrades ever paired with increased mainstream adoption possibilities, next week looks primed for fundamental developments that could drive prices higher.
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