Cryptos to Watch This WEEK | Week of October 10

Abstract:

• The price of Ethereum’s naming service (ENS) has increased by 18% in the previous week as record numbers of new registrations and renewals were made.
• After a mainnet upgrade was successfully implemented, Elrond’s (EGLD) price increased by 15%.
• This week, Casper Network (CSPR) had a 22% surge in value after releasing an enterprise-grade NFT standard.
• Due in large part to their joint efforts with Unstoppable Domains, 1inch Network’s (INCH) market valuation has risen by 9% to $360 million.
• After announcing a deal and seeing an increase in unique addresses, Polygon’s (MATIC) market worth jumped by 7% to $7.23 billion.

Watch These Cryptos

For the past week, the cryptocurrency market has followed the trend of the previous three months, with most assets hovering slightly above their respective support levels. While the asset class as a whole remains stuck in a rut, there are several coins exhibiting encouraging trends that could lead to an upswing in the near future.

We take a look at the short-term future of Ethereum Name Service (ENS), Casper Network (CSPR), Elrond (EGLD), Polygon (MATIC), and 1inch Network this week (INCH). We have chosen these investments based on a number of factors, including, but not limited to, recent price increases, noteworthy news events, and other notable price fluctuations.

 

1.Ethereum Name Service (ENS)

During the past week, the price of ENS tokens on the Ethereum network increased by around 18%. One token heavily active in the expanding Web3 sector has seen one of its most successful weeks ever.

The record number of registrations and renewals in the previous month is likely responsible for the price increase. In September alone, 39,000 new users signed up, bringing the total number of members to almost 1 million. The ENS token’s price has increased from $14.6 at the beginning of the week to its current level of $17.5.

 

2.Elrond (EGLD)

The Elrond (EGLD) coin has increased in value by 15% during the past week, making it one among the week’s top performers. The work has been going on for quite some time, and it finally seems to be getting up steam.

The CEO and founder of Elrond announced the successful activation of a new mainnet upgrade, which explains the price hike. The update causes a discrepancy between NFTs and meta ESDTs in terms of available features. In the last day, the coin’s value has increased by 2.6%, to a current price of $56.7.

 

 

 

3.Casper Network (CSPR)

Casper Network (CSPR) also saw significant gains this week, with a price increase of almost 22% over the course of the past seven days.

Casper’s team has been attending and presenting at a number of conferences and expos, which could be one of several contributing factors. In addition, the group highlighted the fact that the publication of the CEP-78 protocol represented the introduction of an enterprise-grade NFT standard. After beginning the week at $0.028, CSPR has risen in value to its current price of $0.035.

 

 

4.1inch Network (1INCH)

 

Decentralized Trading on the 1inch Network (1INCH) The 1inch Network had a productive week as well, with the 1inch token’s market cap increasing by 9 percent. The current market cap is $360m.

The announcement of the partnership between 1inch Network and Unstoppable Domains is likely a contributing factor to the increase. Users of the 1inch wallet will now be able to conduct transactions using domain names rather than physical addresses, all thanks to the collaboration between the two companies. Presently, 1 INCH token can be purchased for $0.60.

 

 

5.Polygon (MATIC)

 

The Polygon Network is a top-tier endeavor, with MATIC as its flagship product. Over the previous week, MATIC’s market cap rose by 7 percent, to $7.23 billion.

The sudden change could be due to a number of factors. There are now more than 266,000 daily active addresses on Polygon, and this is in part because the total number of unique addresses has increased.

Furthermore, the organization has stated that it would be working with Alpha Venture DAO and Icetea Labs to develop an accelerator program for blockchain entrepreneurs. As of this writing, MATIC has a price of $0.83 per share.

 

Conclusion

This post is not a recommendation by BTCC or the author to invest in cryptocurrencies or other initial coin offers (ICOs), as doing so is extremely dangerous and speculative. A skilled professional ought to always be consulted before making any financial decisions because every person’s situation is different. BTCC disclaims any warranties and guarantees regarding the timeliness and accuracy of the information provided here. The author does not currently possess any of the aforementioned cryptocurrencies as of the date this post was written.