While other cryptocurrencies could do well this week, the odds are that Ethereum and Ethereum-based tokens will likely outperform the rest of the market in the week. Many ERC-20 tokens are already gaining upside momentum, an indicator that money is already flowing into the Ethereum ecosystem. Here are some of the top cryptocurrencies to watch today for a savvy investor looking to benefit from this week’s market trends.
Shiba Inu (SHIB)
One of the ERC-20 tokens likely to make a strong showing this week is Shiba Inu (SHIB). While the merge has nothing to do with SHIB directly, this ERC-20 token is pretty cheap, and investors looking for low-cost opportunities within the Ethereum ecosystem may find it quite attractive.
The hype around Ethereum aside, Shiba Inu’s recent pivot towards a more aggressive token burn could see its price rally going into the future. This makes it even more attractive as an investment because as the token supply drops against a background of growing demand, so does the potential for the price to rise.
Most importantly, with the merge, it will get cheaper to invest in Shiba Inu since the Ethereum fees will be much lower.
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Kraken
Kraken is a San Francisco-based cryptocurrency exchange that allows users to trade various digital currencies. With a strong emphasis on security, Kraken employs cold storage for most funds and offers two-factor authentication (2FA). Its user-friendly interface provides real-time charts and order books, making it suitable for both beginners and experienced traders. Kraken also complies with regulatory requirements in the jurisdictions where it operates.
The Graph (GRT)
With the Ethereum merge underway, one of the areas that are expected to benefit is Web 3.0. This market is already growing fast, and with Ethereum transactions set to get faster and cheaper, the room for growth could be exponential.
The Graph (GRT) is one of the cryptocurrencies that have the potential to revolutionize Web 3.0 by making the querying of data on the Ethereum network faster and more efficient. This coupled with the fact that it is trading at record lows, makes Th GRAPH a top cryptocurrency to watch as the hype around the merge continues to grow.
Kraken
Kraken is a San Francisco-based cryptocurrency exchange that allows users to trade various digital currencies. With a strong emphasis on security, Kraken employs cold storage for most funds and offers two-factor authentication (2FA). Its user-friendly interface provides real-time charts and order books, making it suitable for both beginners and experienced traders. Kraken also complies with regulatory requirements in the jurisdictions where it operates.
Uphold
Uphold is a global digital money platform that offers financial services. It deals with 250+ currencies (both traditional and crypto) and commodities, facilitating more than US$4 billion in transactions. Uphold’s vision is to create a future where everyone has access to safe, transparent, fair, and affordable financial services
Loopring (LRC)
Loopring (LRC) has the potential to record exponential growth during and after the merge. That’s because, with the merge, the lower transaction costs will trigger an increase in the number of trades in Ethereum tokens. This places Loopring in a good position, not just this week but going further into the future.
Loopring is one of the most used decentralized platforms for trading Ethereum tokens. With costs set to go lower, you can expect trading in these tokens to increase. As this happens, so does the potential for the LRC token to grow in value.
Uphold
Uphold is a global digital money platform that offers financial services. It deals with 250+ currencies (both traditional and crypto) and commodities, facilitating more than US$4 billion in transactions. Uphold’s vision is to create a future where everyone has access to safe, transparent, fair, and affordable financial services
CEX.IO
Cex.io offers exchange of fiat currency for Bitcoin Ethereum, Tether, and 23 other cryptocurrencies, as well as Bitcoin/Ethereum trading against the USD.
Aave (AAVE)
Ethereum has one of the largest DeFi ecosystems in the market today. With Ethereum now set to further entrench its dominance as the top L1 chain, with low costs and high transaction speeds, Ethereum transactions, especially DeFi is set to grow as well.
Aave (AAVE) is one of the cryptocurrencies expected to do well once the merge is complete. That’s because it is already one of the largest DeFi projects in the market today and handles most of the Ethereum DeFi transactions. As such, a significant increase in transactions increases the value of the Aave ecosystem and, by extension, the Aave token.
CEX.IO
Cex.io offers exchange of fiat currency for Bitcoin Ethereum, Tether, and 23 other cryptocurrencies, as well as Bitcoin/Ethereum trading against the USD.