Last week, after the back and forth with the bulls and the bears, the cryptocurrency market saw a decent correction, one that affected the balance of both trading volume, market capitalization and trading price. While the week did not exactly turn out to be mostly dominated by the bulls, the bears only maintained its effects with slight losses surfacing. At present, this is the structure of the cryptocurrency market: slight gains against slight losses.
However, this is not the yardstick uses to measure the value of this week’s most promising tokens. In fact, all three altcoins that have shown themselves most likely to have a profitable run this week are sustaining losses at the moment. Despite this, the overall momentum gathered within the past week to present is the major reason why LTC, BNB, and BAT makes this list.
The 4th largest cryptocurrency has been on a battle with EOS for weeks now. Despite both coins outperforming at different times, LTC takes the edge with its constant growth in volume, one that is mostly to be credited for its $3.47 billion market cap.
At press time, LTC has dropped by 2.65% against the USD, meanwhile, this does little to LTC’s trading price which is currently trading at $55.49 as it heads to the $60 mark. With a slight rally, LTC is likely to hit this price breakout and head towards the $65 to $70 mark while building a competitive market cap against Ripple’s XRP.
Binance Coin (BNB)
BNB is not likely to leave the list of most promising coins anytime soon. Despite having lost stability at $15, BNB takes baby steps to attain gains of 0.71% at press time. Meanwhile, more notable than this is BNB’s growing trading volume.
It would seem that more and more traders are pouring into BNB for the sole purpose of buying, which generally equals a long term bull run. Last week, BNB outperformed well enough to hit a price breakout and snatch the 7th spot from Tether. This week, BCH and EOS may just be the next altcoins in line. Overall, for BNB, think long term.
The Basic Attention Token (BAT)
This “comeback” token had ironically fallen to great decline few hours after its listing on Coinbase and progressively the Coinbase Pro. After a 20% upsurge, BAT dramatically fell from the 29th to the 30th spot in a matter of minutes. BAT had lost so much value that it dropped to sit slightly below the 40th spot.
Four months to this day, this ERC-20 token has moved 15 spots higher than it was previously trading. More precisely, BAT is seated at the 25th spot, with a market cap nearing a tie with VET, its closest rival.
Although BAT has declined by 5.37% and is now trading at a price of $0.19, the token had broken out in price value to hit $0.21 as at yesterday. Conclusively, the “comeback token” BAT, is one to keep an eye on. Into the week, BAT is likely to continue in a more bullish direction.
Disclaimer: The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.