Pay Attention to These Coins
Another difficult week has passed for the cryptocurrency market, with no indication that a break above present levels is imminent. The FTX collapse is still making news, and its ramifications could not be seen for some time.
Litecoin (LTC), Dash (DASH), Chainlink, Huobi Token (HT), Curve DAO Token (CRV), and Chainlink are all examined this week (LINK). We took into account a number of variables while choosing these assets, including but not limited to favorable technical advancements, noteworthy news stories, and price variations.
KEY LESSONS
- With the release of a new worldwide expansion roadmap and a brand refresh, the Huobi Token (HT) has increased by more than 50%.
- Whales pulled a short squeeze, which led to a 30% spike in The Curve DAO Token (CRV).
- The asset appears to be being accumulated by sharks, as the price of Litecoin (LTC) increased by 20%.
- Developers in the ecosystem attributed the 15% increase in value of the Dash (DASH) token to the coin's stability and practicality.
- As soon as the team announced the beginning of staking in December, Chainlink (LINK) saw a 14% gain.
Token Huobi (HT)
For various factors, the price of the Huobi token (HT) rose by more than 50% over the previous seven days. First, Huobi Global announced in a press statement that the company will be updating its brand. The primary goals of the rebranding are to change the company's name to Huobi and to "full play the crucial strategic features of HT."
The press statement also disclosed a path for international expansion, which calls for establishing a presence in the Caribbean. Additionally, the corporation would increase its investments in Europe and Southeast Asia. Strategic mergers and acquisitions will also be addressed by the expansion. Last week, the token was going for $4.25; today, it's at $6.25.
Curve Token DAO (CRV)
Following a big short squeeze on exchanges by crypto whales, The Curve DAO Token (CRV) saw a 30% gain. The whales significantly plotted a big short of CRV, then borrowed it on the DeFi site Aave, according to the crypto community. As the cost of CRV decreased, they kept borrowing it.
After borrowing, they acquired long positions, raising the price of the CRV by purchasing it on the exchange. Then, because there was little on-chain liquidity, they permitted the liquidation of their Aave stakes, which raised the price of CRV even more. Currently, the token costs about $0.64.
Litecoin (LTC) (LTC)
Litecoin (LTC) saw a 20% increase in price as crypto sharks bought up the asset.
The total amount of LTC held by addresses with balances of $1,000 to $100,000 is $43.4 million.
The supply at these addresses is at a seven-month high. The network saw a lot of on-chain activity and is currently focusing on the $80 market.
Dash (DASH)
Dash (DASH), which is currently trading at about $39.5, has increased by 15% during the last seven days. The stability and usefulness of the token, according to developers in the ecosystem, are to blame for this.
Bitcoin's hard fork, Dash, was originally intended to be a privacy coin. Since then, it has shifted its focus to a platform for everyday transactions. Over 159,000 retailers reportedly accept the DASH cryptocurrency, according to the project.
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Chainlink (LINK)
Following the team's announcement that Chainlink Staking v0.1 would go live on December 6, the price of the Chainlink (LINK) token jumped by 14%. Staking is a system of financial security that protects the network. In exchange for committing LINK tokens to the network's security, holders receive tokens.
On-chain and off-chain activity determines staking eligibility. The maximum stake pool limit will eventually rise to 75 million LINK from the beta's ceiling of 25 million. At the time of publication, the value of the Chainlink token was approximately $6.8. It debuted at $5.6 last week.