Analytics Firm Identifies 8 Promising Altcoins for Traders to Monitor This Week
Layergg, a renowned cryptocurrency analysis company, has unveiled its selection of altcoins to keep an eye on in the coming days.
Ethena (ENA)
Ethena, an ambitious new project, has delivered impressive returns with $8 million in earnings over the last seven days, making it one of the leading decentralized applications (dApps) on the market. Notably, Ethena accepts BTC collateral, expanding its Total Addressable Market (TAM). However, similar to Terra (LUNA), there may be inherent risks associated with this project.
Ordi (ORDI)
ORDI, categorized as a primary memecoin broker by the analytics firm, is observed to reflect the effects of the BTC Halving cycle. On April 4, Franklin Templeton released a report on ORDI. Furthermore, the coin is scheduled to be listed on Coinbase Futures on April 11, with the Stacks Nakamoto Upgrade set to commence on April 16.
Phantom (FTM)
According to Layergg, Fantom stands to indirectly benefit from the recent network congestion experienced by Solana, thanks to the growing trend of “horizontal scaling.” Andre Cronje, the founder of Yearn Finance, has remarked that “the Sonic upgrade is still in its early stages, with larger milestones ahead.”
Sublayer (ALT)
Situated in a unique EigenLayer space with a notable “Restaked Rollup trend,” Altlayer is rumored to be preparing for an Eigenlayer token creation event in mid-April, as hinted by Arthur Hayes. The analysis suggests that ALT stakers may receive airdrops of EIGEN and XTER.
Dogecoin (DOGE)
As per analysts, Dogecoin has demonstrated a tendency to maintain upward momentum in the years 2021, 2022, and 2023, leading up to Doge Day (April 20).
Mantle
Analysts have noted that Mantle offers attractive returns to MNT stakers through Ethena/Pendle. The recent PUFF airdrop for MNT stakers propelled the price to new all-time highs (ATH) before experienced investors withdraw. Consequently, Mantle’s Total Value Locked (TVL) and wallet count continue to reach new ATHs, acting as a catalyst for further upward movement.
Ankr (ANKR)
Ankr, leveraging AI, dePIN, BTC LST, and RaaS trends, has experienced a reevaluation of the ANKR token due to the advent of Neura. An important announcement is anticipated for this altcoin on April 15 during the “Stability World AI” event.
Stargate Finance (STG)
According to the co-founder of Layerzero, the launch of Stargate V2 is just around the corner. Currently, it boasts the highest volume and Daily Active Users (DAU) among all bridge platforms.