Crypto Analysis Firm Identifies 8 Altcoins to Monitor This Week
Cryptocurrency analytics company Layergg has released its latest list of altcoins worth keeping an eye on in the coming week. Here are the standout coins identified by the firm:
1. Ethena (ENA): Ethena has exhibited impressive performance with a staggering $8 million in earnings from major dApps over the last seven days. Its acceptance of BTC collateral has expanded its Total Addressable Market, although potential risks similar to Terra (LUNA) have been noted.
2. Ordi (ORDI): ORDI is regarded as the primary memecoin broker that reflects the effects of the BTC Halving cycle. Franklin Templeton published a report on ORDI on April 4, and the coin is set to be listed on Coinbase Futures on April 11. Additionally, the Stacks Nakamoto Upgrade is scheduled for April 16.
3. Phantom (FTM): Fantom could indirectly benefit from Solana’s recent network congestion through the “horizontal scaling” trend. Yearn Finance founder Andre Cronje has expressed enthusiasm for the ongoing Sonic upgrade and its potential for further advancements.
4. Sublayer (ALT): Positioned in an EigenLayer area with a “Restaked Rollup trend,” Altlayer is poised to hold an Eigenlayer token creation event in mid-April, as hinted by Arthur Hayes. ALT stakers can expect to receive EIGEN and XTER airdrops, according to Layergg.
5. Dogecoin (DOGE): Analysts anticipate that Dogecoin will continue its upward momentum in the lead-up to Doge Day on April 20, a trend observed in previous years.
6. Mantle: Analysts highlight that Mantle offers substantial returns for MNT stakers through Ethena/Pendle. A successful PUFF airdrop for MNT stakers resulted in the PUFF price reaching an all-time high (ATH), attracting retail investors. As a consequence, Mantle’s Total Value Locked (TVL) and wallet count are progressively reaching new ATHs every day, serving as a catalyst for upward growth.
7. Ankr (ANKR): Ankr is experiencing a surge of interest due to trends such as AI, dePIN, BTC LST, and RaaS. The introduction of Neura has prompted a reassessment of the ANKR token’s utility. An important announcement regarding the altcoin is expected on April 15 at the “Stability World AI” event.
8. Stargate Finance (STG): A leading bridge in terms of volume and Daily Active Users (DAU), Stargate Finance’s highly anticipated launch of Stargate V2 is imminent, according to Layerzero Co-Founder.
Traders and investors are recommended to closely monitor these altcoins as they may present significant opportunities for profit and growth.