Cryptocurrencies to watch for the week of May 1, 2023
While the majority of the cryptocurrency sector starts to slowly recover, most digital assets taking their cue from the market’s heavyweights, Bitcoin (BTC) and Ethereum (ETH), crypto traders and investors...
While the majority of the cryptocurrency sector starts to slowly recover, most digital assets taking their cue from the market’s heavyweights, Bitcoin (BTC) and Ethereum (ETH), crypto traders and investors are trying to discern which cryptocurrencies are worthy of their attention in the first week of May.
With this in mind, Finbold has examined the market, checking for the latest developments and success indicators related to some of the most promising crypto assets, and arrived at the list of the top five to pay attention to as the week of May 1 unfolds.
Formerly known as Elrond, MultiversX (EGLD) has just announced listing on the crypto exchange Upbit, in a move that could send its price rallying, as was recently seen with Floki (FLOKI), the price of which soared after listing by Binance.US, the American branch of the crypto trading platform Binance, as Finbold reported.
Meanwhile, MultiversX was at the time of publication changing hands at $44.44, recording a drop of 3.79% in the past 24 hours but writing down gains of 10.25% during the previous week and a slightly lower 3.05% in the last month, as the charts indicate.
Following OKX’s announcement of a strategic partnership with blockchain security company SlowMist, support for Sui Network’s SUI, and the largest upgrade to its Proof-of-Reserves (PoR) yet, the crypto exchange’s native OKB (OKB) token made a brief but significant rally before settling into its current price.
At present, the price of OKB is $47.49, declining 0.89% on the day and 10.91% over the week but witnessing an 11.59% increase during the last 30 days, with a chance of further strengthening due to the recent developments, as per the recent data retrieved by Finbold on May 1.
After the brief drop caused by the massive sell-off, Bitcoin (BTC) is back trying to breach the psychological level of $30,000 and is about to close the fourth month in a row with a green candle, signaling that the bear market is finally and officially over. Moreover, crypto analysts expect to see it move toward $41,000 and $47,000.
Presently, the flagship decentralized finance (DeFi) token is trading at the price of $29,124, which is an increase of 0.73% on the day and a gain of 3.07% over the past week. In addition, Bitcoin has seen a climb of 6.72% in the last 30 days.
Earlier in March, sports utility crypto project Chiliz (CHZ) announced the creation of a $50 million incubator and accelerator program called Chiliz Labs, which aims to assist Web3 projects in the gaming and entertainment sectors building on its blockchain, whereas the new Chiliz Sports Blockchain is expected to launch on May 10.
At press time, the price of Chiliz stood at $0.13, demonstrating a 0.15% decrease in the last 24 hours, as well as a loss of 1.48% across the previous seven days, while growing 10.05% on its monthly chart, as per the most recent information.
Furthermore, as one of the top three cryptocurrencies by GitHub development in the past month, Cardano (ADA) is constantly going through innovation and development. Notably, one of the most recent positive events is the revamping of its ‘Architects of the Future‘ delegation strategy to foster growth, as well as the announcement of a new game from Dead Pxlz on the Cardano ecosystem.
In the meantime, the price of Cardano amounts to $0.40. This represents a 3.10% negative change on the day, and a 0.59% drop in the last seven days, whereas it is recording a 7.68% gain across the month, as the most recent charts suggest.
It goes without saying that the further success of the above-mentioned digital assets will generally depend on the continuation of their teams’ positive development efforts and events directly relating to the cryptocurrencies themselves, as well as the outside factors, such as the general crypto market and macroeconomic sentiment.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
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