The post Cardano And Two Other Altcoins Set To Explode This Week appeared first on Coinpedia Fintech News
Will Bitcoin finally gain some momentum this week, or if upcoming macroeconomic data will push it further down. Historically, September has been a tough month for Bitcoin, but there’s hope for a rebound in October.
Currently, Bitcoin is trading below $57,000. However, events like the upcoming U.S. presidential debate and economic data releases might impact the market. Both Donald Trump and Kamala Harris have brought crypto into the spotlight, with Trump making bullish comments about Bitcoin.
Amid these interesting events, analyst Altcoin Buzz took to his latest video and revealed the top three altcoins to keep an eye on.
Coin 1: Cardano
With rising open interest and increased activity, ADA could be gearing up for a major price movement, especially as more developers and projects migrate to the platform. Cardano’s focus on improving its infrastructure through upgrades like the Chang Hard Fork makes it a strong competitor in the smart contract space, especially against Ethereum.
Along with the price rise, Cardano has seen a surge in address activity, which indicates that more users are interacting with the network. This could signal that more investors are accumulating ADA, often leading to a price rebound.
Coin 2: Stacks
Stacks recently reached an all-time high of over 1,400 smart contracts deployed, just before the highly anticipated Nakamoto upgrade. This upgrade, which started rolling out in late August, is expected to revolutionize Bitcoin-based decentralized finance (Bitcoin DeFi) by enabling faster transactions and improving security.
Coin 3: Quant
Quant’s token has seen a rally, rising over 23% from its lowest point last week. This price increase is partly driven by the staking announcement and long-term investor confidence. However, the token still remains 54% below its all-time high this year. With staking now available, QNT is becoming more attractive to both investors and developers, which could lead to a supply squeeze and further price appreciation.