Top 5 Cryptos To Watch This Week Amid US Banking Crisis
May 03 2023 - 1:53AM
NEWSBTC
Concerns about the stability of the global financial system have
been rekindled in the wake of the recent failure of the First
Republic Bank in the United States. The market’s confidence has
taken a major hit as a result of this major development, especially
over the possibility of a dovish attitude by the US Federal Reserve
to cut interest rates. As a result, investors’ nerves have been on
edge, and economic analysts are keeping a careful eye on the
situation to determine its potential impact. Related Reading: AVAX
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Investors widely expected the Fed to boost interest rates to 5.25%
after the collapse of Silicon Valley Bank, Signature Bank, and
First Republic Bank. Investors and traders alike reacted to this
news by taking a more cautious stance in the market. Since
yesterday, the cryptocurrency market has been down 1%, as reported
by CoinGecko. Although Bitcoin and Ethereum both fell in value by a
small amount, the impact on the altcoin market was much greater.
Even if this is only a short setback, these top 5 cryptos are still
highly recommended for investor portfolios. Top 5 Cryptos To Watch
This Week PEPE Much like DOGE and SHIB, PEPE is based on a meme
that first appeared in 2005. Despite being the new kid on the
block, the token is firmly bullish, with PEPE up 24% in the past 24
hours. The token is still experiencing a strong surge in
investor interest which will be beneficial in the short to medium
term. With its low price of $0.00000134, investors and traders can
cash in some gains before the price stabilizes. RNDR
Despite taking a beating in this week’s market environment, RNDR is
still a great buy. The latest market data shows that the token is
up 19% since last week. With recent on-chain developments siding
with the bulls, the token’s position in investor portfolios is
safe. RNP-003: Resource Acquisition and Allocation for Core
Team and Grants received majority 𝗮𝗽𝗽𝗿𝗼𝘃𝗮𝗹 for the Foundation 𝘁𝗼
𝗮𝗰𝗾𝘂𝗶𝗿𝗲 𝗮𝗻𝗱 𝗮𝗹𝗹𝗼𝗰𝗮𝘁𝗲 𝗿𝗲𝘀𝗼𝘂𝗿𝗰𝗲𝘀 𝘁𝗼 𝗯𝗿𝗶𝗻𝗴 𝗽𝗿𝗼𝗱𝘂𝗰𝘁𝘀 𝗮𝗻𝗱 𝗴𝗿𝗼𝘄𝘁𝗵
𝗶𝗻𝗶𝘁𝗶𝗮𝘁𝗶𝘃𝗲𝘀 𝘁𝗼 𝗹𝗶𝗳𝗲. — Render Network | RNDR (@RenderToken) April
26, 2023 The bears are currently trying to break through $2.1.
Investors and traders should then defend this support level as a
bearish break on this price point could drag RNDR to $1.574 in the
long term. CSPR The governance token of the L1 blockchain
Casper Network, CSPR experienced a slight dip in price as the
market slipped. According to CoinGecko, the token is up 19% in the
weekly timeframe. With a clear vision of what the network should
be, CSPR’s future is secured. The future of blockchain is
modular 🤸 Build with us: https://t.co/OtgItFPXc5 — Casper
(@Casper_Network) April 30, 2023 The token’s bulls are trying to
stabilize the price above $0.05782. If they are successful, CSPR’s
path to $0.06371 is open for the taking. However, a bearish
breakthrough on this level might bring the token back toward
$0.04355 in the medium to long term. INJ INJ has been
one of the top gainers this week as the market fell slightly.
CoinGecko data reveals that the token is up 10% since last week,
ranking top four in the top gainers list. This bullishness was
caused by Binance enabling institutional lending for Injective,
opening up a new batch of possible investors on the platform.
The token might drop toward $6.904 in the medium to long term
before stabilizing at this price point. If this is the case,
investors should monitor INJ’s price movements in the short to
medium term. Crypto total market cap nearly flat at $1.14
trillion on the daily chart at TradingView.com Related Reading:
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pic.twitter.com/H7a6xzmgrp — Radix – Radically Different DeFi
(@radixdlt) April 30, 2023 XRD XRD has been following the
market closely. Boasting a strong correlation with Bitcoin, the
token is currently down nearly 3% in the daily timeframe. With
Radix making noise with Consensus 2023, this would definitely
attract more investors to the platform. XRD is on its way
down toward $0.0942 which presents a strong support level for the
bulls to bounce off of. If a bearish breakthrough is stopped on
this level, the path to $0.131 is clear for the taking.
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