thenewscrypto.com
- The global crypto market cap soared by $150 billion in a week, rising 6.17% to $2.58 trillion.
- $FLOKI rebounded by 17% in the last 24 hours, now trading at $0.0002637.
- JasmyCoin has surged 24% to $0.02806, breaking out of a two-year consolidation trend.
The cryptocurrency market is gearing up for a significant week, with several major cryptocurrencies facing potential catalysts that could highly influence their price.
Last week, multiple top cryptocurrencies experienced a second wave of price increases, continuing the positive momentum from the prior week. This resulted in a substantial rise in the global cryptocurrency market cap, which grew by $150 billion in the past week, marking a 6.17% increase to $2.58 trillion.
Here we picks some of the top cryptocurrencies to watch this week, following their recent trends, including price, trading activity, and community attention.
Floki ($FLOKI)
- Market Cap: $2.52 Billion
- Trading Volume: $551 Million.
Floki ($FLOKI) has seen a significant resurgence following Coinbase’s announcement of its listing for perpetual futures contracts. Despite minor declines over the past month, $FLOKI’s price has rebounded by 17% in the last 24 hours, now trading at $0.0002637. Over the past week, the price has surged by over 36% and 53% over the past month. Additionally, the daily trading volume of $FLOKI has increased by more than 97% in the last 24 hours.
If the current upward trend continues, $FLOKI could rise to $0.0002758 this week, potentially reaching its yearly high of $0.0002964. Further gains might push $FLOKI past its 2021 high of $0.00030. Conversely, if the price dips below $0.0002231, it could decline to $0.0002105, with further drops to $0.0001926 and $0.0001657 possible.
However, $FLOKI is expected to trade between $0.0002998 and $0.0002303 this week.
Ethena ($ENA)
- Market Cap: $1.40 Billion
- Trading Volume: $315 Million
The newcomer Ethena launched in February 2024, has quickly gained traction, securing the 68th position in the cryptocurrency market. Ethena is a synthetic dollar protocol built on Ethereum. That offering a crypto-native solution for money independent of traditional banking infrastructure, along with a globally accessible dollar-denominated savings instrument known as the ‘Internet Bond’.
However, Ethena is set to announce four new DeFi integrations and new centralized exchange (CEX) integrations for its $USDe stablecoin next week. These developments could enhance the adoption and utility of the $ENA token and the $USDe stablecoin, potentially impacting their prices positively.
At the time of writing, Ethena traded at $0.9267. The $ENA price has risen by 7.18% in the past day and 28.4% over the past week, with daily trading volume increasing by 5.42% to $315 million. Ethena is expected to trade between $0.7419 and $0.9876.
JasmyCoin ($JASMY)
- Market Cap: $1.3 Billion
- Trading Volume: $420 Million
JasmyCoin ($JASMY), which peaked in 2021 before entering a prolonged bear market, has finally broken out of its two-year consolidation trend. Its price has surged by 24% to $0.02872, driven by a spike in trading activity. The daily trading volume skyrocketed by 655% in the last 24 hours to $421 million, reaching its highest level since April 2022. Further, JasmyCoin’s price has climbed over 330% since the beginning of 2024.
Although experts anticipated rejection and a subsequent bearish pullback, they would keep the rally above major support levels if the bulls maintained significant control. With the start of the new quarter, JasmyCoin has triggered a fresh upswing, which is expected to continue, potentially resulting in another 100% rally in the coming months.
Finally, Ethena is expected to trade between $0.02377 to $0.03256 in a week.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.