Three large-cap cryptocurrencies that brave the crypto bear wave this week

Three large-cap cryptocurrencies that brave the crypto bear wave this week

By Motiur Rahman - min read

Bitcoin is making a rebound, and most top cryptocurrencies are making positive, albeit small, gains. This is an indicator that though all financial markets are in the red right now, cryptocurrencies could be about to make a rebound.

This means it could be time to start looking into cryptocurrencies with strong news that could see them perform well for the remainder of the week and possibly for the rest of the month.

If you are looking to make the most of the market today, below are some of the cryptocurrencies that could easily end the week higher by double-digit percentages. Each of them has strong news backing them up.

XRP (XRP)

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Bitstamp

Bitstamp, established in 2011, is a pioneer in the cryptocurrency exchange world, offering a secure and straightforward platform for trading a variety of digital currencies. It’s known for its user-friendly design, robust security measures, and global reach, making it a preferred choice for crypto traders worldwide.

XRP (XRP) is one of the top-performing cryptocurrencies this week. Currently, it is up by over 15% in the week. This follows a spat between the SEC and Ripple’s general counsel, who wondered why the SEC chairman acted like a cryptocurrency cop. 

The growing feeling is that the case between Ripple and the SEC is close to the end and that Ripple has a chance of winning it. If positive news keeps coming off this case, then XRP has the potential could remain in the green for the remaining part of the week. On top of that, if the case ends in Ripple’s favor within the year, XRP could be one of the best-performing cryptocurrencies by the end of 2022. 

EOS (EOS)

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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.

EOS (EOS) has lagged behind the broader cryptocurrency market for a while now. Even in the last bull run, EOS vastly underperformed. However, this week there is reason to be bullish on EOS. That’s because of the Antelope Protocol update. 

Through this update, the EOS network will be able to give users a better experience and make the network more attractive to developers. Among the features that developers will enjoy include EVM cryptographic functions and faster transaction life cycles. Since this gives EOS higher odds of long-term adoption, this crypto could benefit from FOMO in the short term. 

Cardano (ADA)

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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.

Cardano (ADA) is known to rally whenever there is big news around it. This is thanks to the Cardano community’s strength, one of the most passionate in the market. The big news is that Cardano now has more value staked than other top blockchains like Avalanche and Binance Coin. The total value staked on Cardano is $11.49 billion, making it the third most staked network after Ethereum and Solana.

This is likely to draw a lot more attraction to Cardano, given that it is also one of the most scalable networks with some of the lowest transaction costs in the market. In essence, the growing amount of staked value in ADA signals a potential for long-term adoption.

All this puts Cardano in an excellent position to rally in the short term, and hence crypto is worth watching not just this week but heading into October.