The cryptocurrency market has seen a modest gain in the short term, with Bitcoin (BTC) striving to reclaim the $30,000 threshold. The market has been in a sideways trading pattern over the past few weeks as investors hope for a breakout. Finbold has identified several cryptocurrencies with potential investment opportunities in the upcoming week, which start August 14.
XDC Network (XDC) has recently been bullish in its movements, performing better than the market. This is likely due to the strategic partnerships and collaborations that the cryptocurrency has formed. One example is the WebX 2023 sponsorship initiative with the Japanese crypto trading firm SBI VC Trade. Additionally, XDC Foundation has taken on the position of a platinum sponsor for the Trade Finance Investor Day 2023. At press time, XDC is trading at $0.06 and has seen a 2% drop in the past 24 hours.
Dogecoin (DOGE) has been displaying promising performance in the past few weeks, thanks to the input of Tesla (NASDAQ: TSLA) CEO Elon Musk. Speculation has arisen that DOGE could be included in Musk’s social media platform X. As of press time, DOGE is trading at $0.08 with 1.5% gains in the past week.
GALA (GALA) is the designated digital utility token of Gala Games, a blockchain gaming platform. GALA focuses on offering gamers complete ownership over their in-game assets, a departure from the common centralised model. The project has shifted its focus towards game publishing and introducing AAA-level games. GALA is currently trading at $0.02 with gains of nearly 2% in the past 24 hours.
Hedera (HBAR) has been gaining considerable attention in the cryptocurrency sphere with its positive trajectory in the past month. This is likely due to a surge in social activity of 200% in the week leading up to August 8. Additionally, Hedera has partnered with social marketplace Calaxy to empower creators through monetization. Hedera is trading at $0.06 with 7% gains in the past week.
Tron (TRX) is one of the most recognised cryptocurrency projects, with its assets and company registering substantial gains. A recent report from Messari showed a 14.7% rise in market capitalisation compared to the previous quarter. The same report also showed increases in daily average active accounts, new accounts, and transactions. Despite a collaboration with Curve Finance, analysts are cautious of an extension to TRX’s downward trajectory. TRX is trading at $0.08 with 2% gains in the past week.
The above mentioned cryptocurrencies have shown resilience and potential despite the market stagnation. However, it is important to conduct thorough research before making any investment decisions as market conditions can change quickly.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
