While other markets have been quiet over the weekend, it’s different for cryptocurrencies. Cryptocurrencies are also traded on crypto exchanges at the weekend. For this reason, it is important to look at developments that may affect prices over the weekend. For this reason, we have compiled what will happen in these two days. The following list includes developments in some altcoin projects over the weekend. Here are the details…
Important days have come for these altcoin projects
- Mexc Global is listing PLC Ultima (PLCU) in USDT pair today at 15 CEST.
- HyperonChain (HPN) is launching its mainnet tomorrow, September 25.
- Neblio (NEBL) will hold a question and answer event with CCC.io tomorrow.
- CoinTiger Pool is adding Branaverse (BRANA) to the pool tomorrow.
- Crypto.com lists STEPN (GMT) and ETHPoW (POW).
- California-based company Waka Coffee & Tea now allows users to buy coffee with Shiba Inu (SHIB). It also offers payment options with Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE) and Ripple (XRP).
What is the latest situation in the market?
Meanwhile, the current price movements in the market show that cryptocurrencies entered the weekend with a slight loss of momentum. Despite the relief in the cryptocurrency market, the increased interest rate at the FOMC meeting on September 21 affected the markets. After that, BTC and altcoins are still in the process of going through correction cycles. As we reported as Kriptokoin.com, what determines the movement of cryptos according to experts is the interest rate increase in the USA despite the critical conditions in the stock market.
Meanwhile, two cryptocurrencies stood out during the week: Cardano (ADA) and ETHPoW (ETHW). Cardano has successfully completed the Vasil hard fork. ETHW, on the other hand, emerged with a hard fork after Ethereum completed its merger and switched to the proof-of-stake (PoS) mechanism. Although the cryptocurrency’s value jumped initially, it is currently trading at a tenth of its original price.
ETH and ADA affected the markets this week
Cardano also demonstrates a remarkable price performance, gaining over 8% in value over the past seven days. This breakthrough is an important step towards trend reversal in ADA. The cryptocurrency has lost more than 60% of its value since its record and hasn’t had a chance to recover, especially with the market conditions we’ve been experiencing for the past few months.
Another important factor affecting the markets is the regular lack of clarity around Ethereum, which is overly similar to a security. Therefore, regulations can affect investors and cause numerous problems for projects that want to start working on the network. The DeFi and NFT industries are performing poorly. Thus, both profitability and revenue of Ethereum remain at an extremely low level. Therefore, despite the Merge update, the selling pressure has increased exponentially in the last few days.
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