The market saw growth earlier in the week, pushing its combined market capitalization over the $2 trillion benchmarks. However, there was a dip towards the end of this week, as the Russo–Ukrainian tension overtook the bullish sentiments.
Each digital currency attempts to distinguish itself from others by ensuring that it is protected against unpredictable moves. This week will be full of dramatic twists, turns and surprises. Here is a summary of the top three digital currencies to watch.
Bitcoin (BTC).
Bitcoin is still the leader in cryptocurrency, both in terms of market capitalization and general correlation to traditional markets. Bitcoin currently trades at $42,350.55 after a 1.67% increase in price over the last 24 hours According Data from CoinMarketCap . Bitcoin deserves to be watched as it is the first cryptocurrency to react as the tension between Russia, Ukraine increases. Other coins will follow Bitcoin’s lead, regardless of whether it responds positively or negatively.
Avalanche (AVAX)
Avalanche is the most popular and fastest growing blockchain network today. The price of digital currency has ranged between a low of $77.65 and a high of $94.99 over the past week. It seems to be stabilizing despite bearish sentiments that have been engulfing wider markets.
Avalanche is home to a growing community of developers who are creating Decentralized Finance ( DeFi) and Non-Fungible Token products, among other things. AVAX’s resilient price trend means that it is likely to test a new weekly high, provided market sentiments allow.
Polygon (MATIC).
As a scaling tool, Polygon is a key player in the Ethereum ecosystem. It reduces congestion and helps to scale up the network. MATIC is currently priced at $1.68 and is awaiting a huge push-up in order to regain the $1.80 resistance.
Polygon has the liquidity it needs to stimulate the ecosystem’s growth following its $400 million raise via private token sales earlier this month. The ecosystem growth of protocols that have won parachain slots in the ecosystem is worth pushing the network into a larger spotlight in terms of token development in the short term.
