Friday, October 7, 2022

Top Three Coins to Watch Out For This Week: BTC, APE, and GMT

With the growing popularity of the digital currency ecosystem, more and more investors keep making their way into the industry on a daily basis. With more than 19,000 different cryptocurrencies around today, keeping a track of which coins to scalp is often difficult. However, analyzing the complexities of the nascent industry is not a guarantee that one will find an asset worth trading for profit in a short time, but it can give an insight into high fliers that are worth keeping an eye on. 

Here are three such high fliers that are worth keeping under every trader’s watchlist this week;

Bitcoin (BTC)

Bitcoin is not just the obvious market leader in terms of market capitalization, it wades such influence that is typically blindly followed by other altcoins. Bitcoin is trading at $39,666.76, down 0.26% in the past 24 hours according to data from CoinMarketCap.

Bitcoin remains the go-to asset for institutional investors, and in this coming week, the rumors about MicroStrategy selling off its crypto assets may stray from the price of the premier coin should investors choose to dwell on this news this week.

By and large, Bitcoin has a dedicated group of retail investors that will help stabilize the coin to maintain fair support if the price slumps become pervasive. A bearish price target is pegged at $38,000 and on the bullish trend, Bitcoin can print a new weekly high above $45,000.

ApeCoin (APE)

ApeCoin is the native coin of the Bored Ape Yacht Club (BAYC) Non-Fungible Token (NFT) collection from Yuga Labs. The coin’s potential for massive upsurge is pegged on its utility with respect to the new set of projects being introduced by the startup.

For instance, the coin will be the purchasing currency for the lands in the Otherside metaverse being introduced by Yuga Labs. APE is currently changing hands at $17.28, and the current hype around the Otherside launch on April 30th may stir a massive price run per increased demand.

STEPN (GMT)

STEPN is currently priced at $3.35 after amassing about 4.92% in the past 24 hours amid a bearish market. The GMT token plays a vital role in giving users of the STEPN Web3.0 lifestyle app an opportunity to earn exclusive rewards for performing healthy lifestyle actions like walking. The token is burnt in order to mint sneaker NFTs which can then be traded. The demand for the GMT token can grow over the coming week, giving it a ground to be placed amongst the top altcoin’s watchlist.

Godfrey Benjaminhttps://cryptomarketsbeat.com
I'm just a nerd who wants the world to know about the unique capabilities of blockchain and digital currencies

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