According to analyst The DeFi Investor, as the cryptocurrency market enters the new week, there will be important developments in some altcoins and these should be followed closely.
Here are the altcoin trends to watch in the new week:
Ethereum Theme: OP, LDO, ETHFI
Ethereum is starting to strengthen, which could bode well for related tokens such as OP, LDO, and ETHFI.
Theta Network: THETA
Theta Network is preparing to launch EdgeCloud on May 1. EdgeCloud is a hybrid cloud computing platform that could potentially impact the market and increase interest in THETA.
Bitcoin: BTC
The FED will announce its next interest rate decision on Wednesday and this announcement will affect all markets, including Bitcoin. In addition, Hong Kong will launch Bitcoin ETFs next week, which could bring new liquidity to the market.
dYdX:DYDX
On May 1, $70 million worth of DYDX tokens will be unlocked, representing 10.7% of the circulating supply.
Renzo Protocol: REZ
Renzo Protocol is launching its token REZ on April 30. First, airdrops will be distributed to users who stake BNB or FDUSD on Binance.
Kamino: KMNO
Kamino, a major money market in Solana, will launch its token called KMNO on April 30.
*This is not investment advice.