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With Bitcoin breaking beyond $50,000 in the previous week, it is clear that the crypto market is prepared for the next halving.
Following in Bitcoin’s footsteps, several altcoins are exhibiting very encouraging signals.
The most promising of these cryptos to watch out for in the upcoming week are mentioned in this article.
#1 VeChain (VET)
VeChain (VET) is a versatile L1 smart contract platform for enterprise-grade applications. Originating in 2015 as a private consortium chain, VeChain collaborated with various enterprises to explore blockchain applications.
Its mission involves utilizing distributed governance and Internet of Things (IoT) technologies to establish an ecosystem addressing significant data challenges across diverse global industries, spanning healthcare, energy, food and beverage, sustainability, and SDG goals. VeChain is constructing the digital foundation for the fourth industrial revolution through trustless data, facilitating real-time and trustless data sharing among multiple participants.
The platform has effectively showcased enhanced efficiency, traceability, and transparency across data trails, supply chains, and innovative ecosystems, such as those in San Marino, targeting UN SDGs.
The price of VeChain (VET) on WazirX is INR 3.94000 today. According to CoinMarketCap, the 24-hour trading volume of LINK is $157,307,975, with a circulating supply of 72,714,516,834 VET and a market cap of $3,297,650,539.
VeChain has emerged as the best-performing cryptocurrency this week, fueled by heightened anticipation surrounding a major announcement set to be unveiled at the MWC 2024 Event in Barcelona. The protocol’s commitment to sustainability and potential partnerships, notably with global consulting giant BCG, has generated widespread excitement. Moreover, VeChain’s introduction of account abstraction technology, facilitating tailored interactions with the Ethereum blockchain, has enhanced interoperability and smart contract functionality. The token’s recent 65% gain, coupled with an 11% increase in the last day, positions VeChain as a formidable player in the crypto space, attracting attention and support from enthusiasts and the broader community alike.
#2 Worldcoin (WLD)
Worldcoin is a novel crypto that aims to provide universal access to money for everyone. The project has garnered a significant amount of attention due to its ambitious goal of distributing tokens to everyone living in this world, free of charge.
Unlike traditional cryptos that rely on energy-intensive mining operations, Worldcoin adopts a unique distribution approach. To achieve its mission of broad inclusion, the distribution process involves identifying individuals through biometric means, such as retinal scans or fingerprints. By doing so, the Worldcoin team believes they can prevent fraud and ensure everyone receives their fair share.
The price of Worldcoin (WLD) on WazirX is INR 640.13050 today. According to CoinMarketCap, the 24-hour trading volume of WLD is $986,665,539, with a circulating supply of 130,724,553 WLD and a market cap of $958,955,632.
Worldcoin (WLD) has witnessed a remarkable surge of nearly 190% in its price performance this week, attributed to several key factors.
- The Worldcoin community celebrated a significant milestone with over 1 million subscribers to World App, the project’s wallet. This substantial adoption influx contributed to bullish sentiments and coincided with the WLD price rally.
- Additionally, a notable whale accumulated 2.09 million WLD tokens from Binance, resulting in a 25% price increase.
- The speculation surrounding Alameda Research’s substantial WLD holdings and Sam Altman’s revelation of Sora, a text-to-video platform, further fueled optimism around the AI-based Worldcoin project.
- As bullish market sentiments prevail, Worldcoin’s price surge aligns with the broader positive trend in the crypto market, propelled by upcoming events like the Bitcoin halving and anticipation of an Ethereum ETF.
#3 Arweave (AR)
Arweave, a decentralized storage network, aspires to provide a platform for perpetual data storage. They are termed as “a collectively owned hard drive that never forgets,” the network hosts “the permaweb,” constituting a permanent, decentralized web featuring various community-driven applications and platforms. Utilizing its native cryptocurrency, AR, the Arweave network compensates “miners” for storing information indefinitely. Originally introduced as Archain in August 2017, it underwent rebranding to Arweave in February 2018 and saw its official launch in June 2018.
The price of Arweave (AR) on WazirX is INR 1,128 today. According to CoinMarketCap, the 24-hour trading volume of AR is $35,912,447, with a circulating supply of 65,454,185 AR and a market cap of $854,794,584.
Arweave stands out as a must-watch crypto this week due to its rapid growth and distinctive value proposition in blockchain and data storage. Users benefit from zero additional fees atop standard storage costs, fostering broad adoption. The innovative endowment model ensures data storage permanence, with user contributions invested to sustain the network indefinitely. This model, coupled with a stable base storage cost, makes Arweave sporadically deflationary and positions it as a noteworthy player in the crypto landscape.
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
