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The cryptocurrency market continues to present various investment opportunities, having recently rallied, led by Bitcoin (BTC). Despite the perception that digital assets like Bitcoin are often considered out of reach for many investors due to their high unit prices, numerous affordable options are still available in the market.
With the new week on the horizon, investors may find potential opportunities in cryptocurrencies valued below the $10 mark. Therefore, Finbold has compiled a list of three promising digital assets that could be worth considering for investment as we head into the next week.
NEAR Protocol (NEAR)
The native token of NEAR Protocol (NEAR), a platform that offers a scalable and developer-friendly environment for decentralized applications (DApps), has emerged as one of the standout crypto projects in the past week. Notably, NEAR has exhibited double-digit gains on the weekly chart, and onchain metrics fuel optimism that these gains may be sustainable in the days ahead.
For instance, the count of active daily addresses on the network has experienced a surge of 975%, soaring from 93,000 to over a million between December 1 and December 19. Simultaneously, the network’s total daily transactions have risen by 170% since December 3.
At the same time, onchain data from Santiment indicates a potential surge in NEAR’s price, fueled by the fear of missing out (FOMO), as the cryptocurrency gains traction in discussions across social platforms. Santiment highlights the extension of NEAR’s buzz into mainstream conversations.
With increasing buying pressure, NEAR has set a target of reaching $4 by the end of 2023. Examining recent price trends, NEAR crypto remains an attractive option for those seeking breakout opportunities.
By press time, NEAR is valued at $3.39, marking a weekly gain of nearly 50%.
Internet Computer (ICP)
The Internet Computer (ICP) has recently emerged as a standout performer in the general crypto market. Although, for the short term, ICP has plunged, the asset still commands monthly gains of almost 100%.
While the exact catalyst for ICP’s rise remains unknown, the network’s strategic partnerships are anticipated to contribute to its valuation.
One noteworthy collaboration involves Internet Computer, Gaudi Knowledge, and Moon Labs, mainly focused on recreating Gaudi’s architecture and arts in the Metaverse on ICP.
Simultaneously, the Internet Computer Foundation (ICP) has introduced the first-ever European subnet, providing GDPR-compliant infrastructure for decentralized applications (dApps). As a decentralized cloud 3.0 protocol, ICP seeks to empower developers to create tamper-proof services and enterprise systems directly on a scalable public blockchain, enabling trustless interactions with the external environment.
Notably, with recent gains, there is speculation about the next stop for ICP. In this line, crypto analyst World of Charts speculates that ICP’s next move could drive it toward the $17.5 resistance level.
By press time, ICP is trading at $9.15, experiencing daily losses of about 5%.
Optimism (OP)
In recent weeks, Optimism (OP) has experienced a significant surge, aligning with the overall market trend and achieving critical milestones in onchain metrics.
This surge in value coincided with a period in which Optimism witnessed a spike in the number of addresses with a balance. As of December 21, Optimism boasted over 5.9 million addresses with a balance, marking a substantial increase of 391% from the 1.2 million recorded in January.
Although the highlighted cryptocurrencies have shown potential to rally, it is worth mentioning that they remain susceptible to the overarching market sentiments that can influence prices in any direction.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.