An analyst who is followed with interest in the market says that it will be a very busy week in the cryptocurrency space. The event that will attract the most attention this week will be the Binance and SEC hearing. This important event will take place on Wednesday. Amid these events, the analyst states that 5 altcoin projects should be on the watch list.
Analyst: Keep these 5 altcoins on your radar!
The analyst, nicknamed The DeFi Investor, draws attention to a number of developments that will take place this week. The analyst states that this week will be very busy with unlocking events. In this context, the analyst urges investors to keep tokens such as FXS, BNB, APT, RDNT and SNX on their radar.
https://twitter.com/TheDeFinvestor/status/1711056255626694661
Reasons for projects to be on the watch list and their technical drawings
Frax Share (FXS)
According to the post, distribution of FRAX v3 has started. Accordingly, it is expected to be completed within the next few weeks. The altcoin saw its price fall by 1.72% in the last 24-hour trading. The token is changing hands at $5.40, just above its daily low price of $5.37.
FXS 1-day price chart. Source: TradingViewBinance Coin (BNB)
One event that many will be looking forward to is the Binance vs SEC hearing, which will take place on Wednesday. It is possible that this event will have a significant impact on the price of the utility token. As of press time, BNB price has experienced a slight decrease of 0.41% over the past day. The token was valued at approximately $211.00 at the time of writing. This further reduced the token’s weekly performance to 3.40%. BNB also lost 1.87% in the monthly time frame. So, the last 30 days have not been kind to the altcoin either.
BNB 1-day price chart. Source: TradingViewAptos (APT)
Investors will also want to note the fact that approximately $23.8 million worth of APT will be unlocked this Thursday. So far the price of APT has fallen by 1.16% in the last 24 hours. This means the altcoin price is $5.19. With the price drop, APT’s 24-hour trading volume decreased by 3.38% to $41,034,861.
Radiant Capital (RDNT)
Radiant Capital’s launch on the Ethereum (ETH) network has been rescheduled for October 15, 2023. The analyst predicts that this development will most likely be a “sell the news” event. Still, it’s possible that it will help Radiant attract more TVL in the long run. RDNT also saw its price drop in the past trading day. As of press time, RDNT was valued at $0.2277 after its price dropped more than 3%. The 24-hour trading volume of the cryptocurrency increased by almost 70% on a daily basis, reaching $11,747,797.
RDNT 1-day price chart. Source: TradingViewSynthetic (SNX)
Finally, SNX is an altcoin that should be on the watchlist with several medium-term catalysts on the horizon. These include the project’s upcoming release of Synthetix Perps V3. Additionally, events include the upcoming launch of Infinex, which resembles a centralized exchange. These new SNX developments have not yet generated much excitement from the cryptocurrency community. The price of SNX dropped by 0.58% in the past day. Thus, the altcoin started trading at $2.00. In addition, SNX lost over 7% in value last week. Meanwhile, although the price of SNX has fallen over the last 24 hours, the token has managed to record an increase in daily trading volume. At the time of writing, SNX’s daily trading volume increased by 72.69% to $19,511,874.
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