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These 5 Cryptocurrency Could See Price Boom This Weekend – Where to Buy

5 cryptocurrency could see price boom this weekend.
5 cryptocurrency could see price boom this weekend.

The cryptocurrency market has had a relatively good week. On Monday, its total value dipped just below $2 trillion, according to CoinMarketCap. But now, this figure stands at nearly $2.2 trillion, representing a 10% increase. The market has, however, dipped over the past 24 hours, with certain major coins falling from anything between 2% and 10%. Nonetheless, if we assume that the market is on a longer-term upwards trajectory, this dip presents an opportunity for bigger gains. Accordingly, we’ve put together a list of five coins most likely to surge before Monday. These 5 cryptocurrency could see a price boom this weekend, although most of them also have good low-term potential.

These 5 Cryptocurrency Could See Price Boom This Weekend

1. Bitcoin (BTC)

BTC is basically flat over the past 24 hours. It has fallen by 0.6% in the last day, to $47,963. This represents a 3% rise over the past week, and a nearly 8% rise over the last month.

Bitcoin (BTC) price chart - These 5 Cryptocurrency Could See Price Boom This Weekend 2.
30-day average (red), 90-day (blue) and 200-day (green).

What’s interesting to note from BTC’s indicators is that its short-term (30- and 90-day) averages have passed above its 200-day average. This suggests bitcoin may have begun a new upwards trend.

There are plenty of fundamental reasons to believe that bitcoin will do well this weekend and beyond. Aside from the fact that BTC generally rises with the rest of the market, various technical models predict that BTC is due for a boom. Most notably, the stock-to-flow model predicts an end-of-year price of around $100,000.

More fundamentally, bitcoin has recently witnessed its adoption by El Salvador as legal tender. While a significant portion locals disapprove of the move, it may ignite a race among other similarly positioned nations to do the same.

It’s also worth pointing out that plenty of experts believe BTC will soon surge. Back in July, a panel of 42 cryptocurrency executives and researchers produced an average end-of-year price forecast of $66,284. This was based on two arguments: 1) that bitcoin is undervalued; and 2) that BTC is increasingly assuming the role of ‘digital gold’, particularly as inflation remains relatively high, in the US, the UK and the Eurozone.

This is why we think bitcoin is a cryptocurrency that could see a price boom this weekend. Investors can trade it at pretty much every major crypto-exchange.

2. Ethereum (ETH)

ETH has dropped by 2% over the past 24 hours, to $3,535. Even so, its current price makes for a 3% gain compared to a week ago, and a 17% gain compared to last month. ETH is also up by more than 850% over the last 12 months.

Ethereum (ETH) price chart - these 5 cryptocurrency could see price boom this weekend 2.

As with BTC, ETH’s short-term averages are rising above its 200-day moving average. More generally, it has been riding an upwards trend ever since the successful completion of the London hard fork. This resulted in Ethereum burning a portion of transaction fees, with community member Anthony Sassano pointing out that over 300,000 ETH has been burned to date.

Because of this burning, ETH’s daily issuance has now dropped below bitcoin’s. This trend has been accelerated by rising DeFi and NFT volumes, which have resulted in more transactions and more fees (and more burning). As a result, Ethereum has become deflationary, with more ETH being burned than issued.

Ethereum is becoming a store of value as well as a utility token, with its transition to proof-of-stake (around early 2022) likely to accelerate this trend. This is why it’s one of 5 cryptocurrency that could see a price boom this weekend.

Traders can buy ETH at most crypto-exchanges, including eToro, Coinbase, Kraken, Gemini, Binance, CEX.io, Crypto.com, Bitstamp, among others.

3. Cardano (ADA)

ADA has also fallen by around 2% in the past 24 hours. It’s also down by 4% in the past week and by 18% in the past fortnight. On the other hand, it remains 25% up across the last 30 days. It hit an ATH of $3.09 some 15 days ago, meaning that it has now fallen by 21% since this high.

Cardano (ADA) price chart - these 5 cryptocurrency could see price boom this weekend 2.

In theory, Cardano’s rolling out of smart contracts on September 12 should have boosted ADA significantly. That hasn’t really happened, probably because the market had already priced in this rollout (hence its earlier surges).

However, now that smart contracts are active, this will result in gradually rising demand for ADA. The more platforms on Cardano use ADA, the more its price will rise. Because of this, we expect ADA to have a good chance of rising strongly again soon.

Indeed, Cardano’s growing ecosystem suggests demand for ADA will increase soon. For example, an August 31 update on Cardano projects found that it had integrated around 100 platforms in the previous three months alone.

Traders can purchase ADA at most major exchanges, including eToro, Coinbase, Kraken, Binance, Gemini, and so on.

4. Solana (SOL)

Compared to its recent performances, SOL has had a bad week. It’s down by 9.6% in the past 24 hours, sinking to $144. It’s also down by 23% in the last seven days. On the other hand, it’s up by 124% in the past month, as well as by 5,500% in the last year.

Solana (SOL) price chart.

SOL has sunk for two primary reasons. Firstly, it had been overbought, with its meteoric rises arguably being unsustainable in the short-term. Secondly, it suffered an outage this week, with developers having to restart its mainnet, which is currently in beta.

Nonetheless, these two setbacks create a good opportunity for SOL to recover in a big way, making up for lost ground. Indeed, on a fundamental level, SOL looks very good. It’s total value locked in has risen to just over $9 billion recently. It had stood at $1.3 billion at the start of August, when the launch of the Wormhole protocol created a bridge between it and Ethereum, BSC and Terra.

This growth in TVL has followed from Solana’s growth in adoption. Its Solanart NFT platform launched only two months ago, and succeeded in passing one million SOL in volume by the end of August.

Likewise, the Saber cross-chain stablecoin exchange, which runs on Solana, is another a big reason why the platform’s TVL has grown so much in recent weeks. Saber’s own TVL has risen as high as $4 billion, with a $3 billion increase in only seven days.

This is why, despite this week’s falls, Solana is another cryptocurrency that could see a price boom this weekend. It can be bought at Coinbase, Binance, Kraken and Crypto.com, among several others.

5. Avalanche (AVAX)

AVAX is now the twelfth biggest cryptocurrency by market cap ($14 billion). At $63.51, it has risen by 3% in a day. It’s also up by 55% in a week and by 168% in a month. In fact, it reached a new all-time high of $68.34 only ten hours ago.

Avalanche (AVAX) price chart.

As the chart above shows, AVAX is one of the breakout cryptocurrencies to watch. Its 30- and 90-day averages have both shot above its 200-day average in the last couple of days.

Avalanche is a high-speed blockchain in the mould of Ethereum, Solana, and others. That said, Avalanche has had a policy of burning its transaction fees from the beginning. Combined with its fixed maximum supply of 720 million AVAX, this burning policy will make AVAX deflationary. It will also get traders interested in investing.

In fact, Avalanche has already attracted the interest of big venture capital. This past week it announced a $230 million investment led by Polychain and Three Arrows Capital. If nothing else, this suggests that the big money believes in Avalanche.

On-chain data backs up the belief of investors. For example, Avalanche’s TVL has risen to $2.6 billion, having stood at under $1 billion as recently as August.

 

 

This is why we suspect AVAX is a cryptocurrency that could see a price boom this weekend. Investors can buy it at Binance, OKEx, Huobi, KuCoin and Gate.io.

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