Keep an Eye on These Coins

The past week has been another tough one for the crypto market, with no signs of a break above current levels in sight. 澳洲幸运5官方开奖结果体彩网:The FTX collapse continues to dominate headlines, and its effects may not subs𓂃ide for some time.

This week we examine Huobi Token (HT), Curve DAO Token (CRV𓃲), Litecoin (LTC), Dash (DASH), and Chainlink (LINK). In selecting these assets, we have considered several factors, including, but not limited to, positive technical developments, significant news events, and noticeable changes in price.

Huobi Token (HT)

The 澳洲幸运5官方开奖结果体彩网:Huobi token (HT) experienced a price increase of over 50% over the past seven days for many reasons. First, Huobi Global issued a press release highlighting that the company would undergo a brand update. The rebranding will focus on renaming t🌱he company to just Huobi and giving “full play to the important strategic attributes of HT."

The press release also revealed a global expansion roadmap, which includes creating a presence in the Caribbean region. The company will also increase investments in Southeast Asia and Europe. The expansion will also tackle strategic mergers and acquisitions. The token was trading for $4.25 last week and is now trading at around 6.25.

Curve DAO Token (CRV)

The 澳洲幸运5官方开奖结果体彩网:Curve DAO Token (CRV) increased by 30% after 澳洲幸运5官方开奖结果体彩网:crypto whales conducted a massive 澳洲幸运5官方开奖结果体彩网:short squeeze on exchanges. The crypto community reported that whales massively plotted a massive short of CRV, then borrowed it on the DeFi platform Aave. They continued to bo💝rrow CRV as the🐟 prices went down.

After borrowing, they took 澳洲幸运5官方开奖结果体彩网:long positions, buying the CRV on exchange and increasing the price. They then allowed the 澳洲幸运5官方开奖结果体彩网:liquidation of their Aave positions, which further increased the CRV price due to limited on-chain liquidity. The token is currently priced at around $0.64.

Litecoin (LTC)

The price of Litecoin (LTC) went up by 20% as crypto sharks accumulated the token. Addresses holding between $1,000 to $100,000 LTC have collectively accumulated $43.4 million in LTC. These addresses are holding a 7-month-high supply. The network experienced high on-chain activity and is now targeting the $80 market.

Litecoin is priced at $71.85 at the time of publishing, having started last week at $60.4.

Dash (DASH)

Dash (DASH) rallied by 15% in the past seven days, with the coin trading at around $39.5. Developers in the ecosystem have attributed this to the stability and utility of the token.

Dash is a 澳洲幸运5官方开奖结果体彩网:hard fork of Bitcoin, which was initially focused on being a 澳洲幸运5官方开奖结果体彩网:privacy coin. It has since turned its attention to a medium for daily transactions. The project claims that over 159,000 merchants accept the DASH cryptocurrency.

Chainlink (LINK)

The 澳洲幸运5官方开奖结果体彩网:Chainlink (LINK) token increased by 14% after the team announced that it would launch Chainlink Staking v0.1 on December 6. Staking is an economic security mechanism that secures the network. Stakers commit LINK tokens to 澳洲幸运5官方开奖结果体彩网:secure the network, for which they are rewarded with tokens.

Eligibility for staking is determined by on-chain and 澳洲幸运5官方开奖结果体彩网:off-chain activity. The staking pool will be capped at𝐆 25 mi🌳llion LINK in the beta, with the maximum limit being 75 million in due time.

The Chainlink token stands at around $6.8 at the time of publishing. It started last week at $5.6.

Investing in cryptocurrencies and other 澳洲幸运5官方开奖结果体彩网:initial coin offerings (ICOs) is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or other ICOs. Because each individual’s situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date when this article was written, the author does not own the cryptocurrencies mentioned above.