This last week has been nothing short of a wild journey for cryptocurrency investors. The market had been on a tear earlier in the week, but it has now taken a fall, and the majority of the gains that several of the most popular cryptocurrencies had gained earlier have been erased. Despite this, there are a few cryptocurrencies that have a strong chance of doing well in the days ahead. These will soon be receiving significant news.
Bitcoin, too, is maintaining a firm position above the $23,000 threshold despite the market pullback, which may assist in providing the overall market with impetus in the days to come. If you are interested in trading on the current market, the following is a list of some of the most prominent cryptocurrencies that are forecasted to do well in the near future.
One of the leading cryptocurrencies that has a good chance of doing well this week is Cronos (CRO). This has a significant connection to the recent announcement that crypto.com is the driving force behind a system that enables customers to pay for fuel with cryptocurrency at gas stations located all throughout Australia.
Even if the payments will be made in Bitcoin, the effect on the price of Cronos will still be seen. This is due to the fact that it is the coin that drives the entire ecosystem of Crypto.com. Cronos (CRO) is likely going to see some favorable price action when news of the Australian gas station deals makes its way into the market.
Cronos has also just received permission from the Financial Conduct Authority (FCA), which is a factor that may contribute to its adoption levels in the United Kingdom. This is expected to add to the favorable price momentum, particularly in the event that the broader market turns positive once more.
Recently, Flow (FLOW) has been one of the cryptocurrencies with the best performance. It continues to be one of the leading cryptocurrencies that is in the positive. Its current upswing can be attributed in large part to confusion with Flow, a real estate company that is financed by Marc Andreesen.
Having said that, there is a lot happening with the FLOW cryptocurrency right now, and a lot of it could play a good role in the market movement of the currency. The launch of a growing amount of new non-fungible tokens (NFTs) on the flow blockchain is one example. These are contributing factors that increase the need for FLOW. In the event that the trend reverses and the market as a whole becomes positive once more, it is very likely that FLOW will surpass the majority of the leading cryptocurrencies by a sizeable margin.
In recent times, Ethereum (ETH) has been one of the best performing cryptocurrencies, reaching a new all-time high of $2,000 on August 14th. Ethereum is expected to have a better performance than the overall market in the short run. This is due to the fact that investors continue to anticipate an even larger price surge as the completion date of the merger gets closer.
A significant number of financial analysts here have expressed optimism on the potential price impact that the merger will have on Ethereum. For example, Arthur Hayes, co-founder of Bitmex, feels that the price of Ethereum could climb due to a combination of investor expectations and the currently depreciating nature of Ethereum. He bases this belief on the fact that Ethereum is a cryptocurrency. He went on to say that the price will remain high for many years to come until each and every person has an Ethereum wallet.
Due to the fact that it has such prospective as well as the fact that Ethereum has been going through a decline recently, it is possible that people would acquire this cryptocurrency out of fear of missing out if the marketplace as a whole begins to show signs of improvement in the next few days.