Knowing which cryptocurrencies to allocate resources such as time and money can sometimes be a tool that helps investors make profits in the cryptocurrency market. Furthermore, knowing which cryptocurrencies to avoid trading can be just as much of an art and can help investors avoid losing money in this vast field.
In this context, the cryptocurrency market has been analyzed and a short list of what crypto traders and investors should pay attention to in the coming week has been compiled, taking into account the fundamental factors surrounding some crypto assets. This is because moments of high uncertainty can lead to unpleasant surprises for both the ‘bears’ and the ‘bulls’. This does not mean that these projects are ‘bad’ or ‘good’, it simply means that the current period may not be ideal for making high-risk investments in these projects.
What Will Happen to Pepe (PEPE) Coin?
PEPE investors panicked when the team behind Pepe transferred 16.045 trillion PEPE worth $16.85 million to four exchanges, Binance, OKX, KuCoin, and Bybit, through the Ethereum address “0xa34…f2ea0” on August 24th.
The token, which was a memecoin with an increasing buying demand for a crypto asset with no clear “user demand” earlier this year, was a speculative move in itself that resulted in an increase in its price. This situation poses a real threat to the price of PEPE in the coming days.
The increased fear had already been reflected in meme token prices on August 25th; PEPE lost more than 17% of its value after 24 hours of the team’s transaction, but it still ranks among the top 100 cryptocurrencies by market cap. They are all present according to CoinMarketCap’s Index.
Avalanche (AVAX) Price
As part of the opening of programmed token locks reported on August 21st, Avalanche unlocked 9.54 million AVAX on the night of August 26th. The unlocked amount is equivalent to 2.77% of the circulating supply of this cryptocurrency, which is 344.05 million AVAX.
AVAX experienced losses of over 8% weekly as it dropped to $9.97 before the unlocking of the tokens, as the market is already pricing in the possible effects of a significant sudden increase on the current supply.
The Future of BNB Coin (BNB)
Recently, over $30 million in liquidity was provided to BNB since the native token of BNB Chain fell. However, the threat of further liquidation continues to expose Binance’s cryptocurrency. There is still 628,484.80 BNB ($136.13 million) in the vault of the Venus Protocol, and this belongs to the hacker responsible for the loss in 2022.
In particular, while the next support price is set at $198, BNB was trading at $216.68 on August 25th. This could mean that a further drop of 9% could trigger more losses.
