Token Watchlist for This Week; Fantom (FTM), PYTH, Ethena (ENA) And AI Cryptos

The crypto market was relatively calm during the weekend, with Bitcoin’s price hovering around $66,000-$67,000. The DeFi Investors analyst, who has over 115,000 followers on X, shared their weekly token watchlist for this week, highlighting top cryptocurrencies that could potentially produce gains due to important events in the upcoming days.

Ethereum (ETH): The final deadline for VanEck’s spot ETH ETF application is May 23. If approved, this could lead to increased institutional investment and demand for Ethereum.

AI coins: NVIDIA’s Q1 2024 earnings report will be released on May 22. As a leading manufacturer of GPUs essential for AI and machine learning, NVIDIA’s performance could impact AI-related cryptocurrencies.

Fantom (FTM): Voting for Fantom’s proposal to launch a new token, Sonic (S), has started. Fantom will rebrand to Sonic, and there will be a 1:1 migration of FTM to S tokens.

Read also: Price Action and Fundamentals Reveal Fantom (FTM) Is ‘Mega Bullish’: Analyst Reveals FTM Target for This Bull Run

DEAI: Proposals for the launch of three incubated projects on the Zero1 Platform will go live soon. This could drive interest and activity within the Zero1 ecosystem.

PYTH: On May 20, $900 million worth of PYTH tokens will be unlocked, representing 141% of its current circulating supply. This significant increase in supply could potentially impact the token’s price dynamics.

IntentX (INTX): IntentX, an OTC perpetual DEX with over 270 trading pairs, is launching its token on May 23. New token launches often generate interest and trading activity.

Ethena (ENA): Ethena’s USDe stablecoin will be integrated into Bybit as collateral next week. This integration with a major cryptocurrency exchange could increase the adoption and utility of Ethena’s stablecoin.

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While these tokens are garnering attention due to upcoming events, it’s important to note that cryptocurrency markets are inherently volatile, and investors should conduct thorough research and exercise caution when making investment decisions.

In conclusion, the cryptocurrencies mentioned above are among the top tokens to watch this week due to important developments and events that could potentially impact their price performance.

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Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!