Top Cryptocurrencies to Watch This Week: Bitcoin, XRP, Hedera, Chainlink, and more
Bitcoin is once again on the move towards the highly anticipated $100,000 milestone, showing resilience in the face of earlier resistance. The recent surge in investment in Bitcoin ETFs has reinvigorated market participants and led to a ripple effect across the broader cryptocurrency market, sparking optimism and driving up valuations.
In this bullish climate, several cryptocurrencies are poised for significant movement. Here’s a rundown of the top cryptocurrencies to keep an eye on this week:
Bitcoin flirted with the historic $100,000 mark, hitting $99,645 on November 22. Despite this, the cryptocurrency has struggled to break through in recent days. The renewed investor interest in spot Bitcoin ETFs has been a driving force behind the recent uptick, following notable outflows on November 25 and 26.
As of Monday, Bitcoin is trading at $96,000, showing a slight 2% decline over the past week. This pullback has created some suspense as traders and analysts wonder if Bitcoin will finally break the six-figure barrier. The upcoming days could be crucial as market dynamics continue to evolve.
XRP, the native token of the XRP Ledger used by Ripple for cross-border transactions, has seen a surge to $2.44, its highest level since May 2021. Speculation around a potential XRP ETF has fueled this rally, with WisdomTree registering an XRP ETF in Delaware and Ripple investing in the Bitwise Physical XRP ETP. Currently, XRP is trading at $2.44, boasting a remarkable gain of over 69% in the past week.
Shiba Inu, a major memecoin and rival to Dogecoin, has made waves by surging into the top 10 cryptocurrencies by market capitalization. With a notable increase over the past week, Shiba Inu is currently trading at $0.00002921, showing a strong 13% rise in seven days.
Chainlink, a decentralized blockchain platform, has partnered with President-elect Donald Trump’s World Liberty Financial for its DeFi project. This collaboration has propelled Chainlink to a 20% rise in trading, with the cryptocurrency currently valued at $21.37.
Hedera, a decentralized public network for building dApps, is on an impressive upward trend. Canary Capital’s filing of an S-1 registration to launch an HBAR ETF has generated optimism in the market. With a significant 75% growth over the past week, Hedera is currently trading at $0.2815.
The cryptocurrency market is buzzing with excitement as these top cryptocurrencies continue to show potential for significant movement. Stay tuned for further developments as market dynamics unfold in the coming days.
