The cryptocurrency market seems to be rebounding from its slump a few days ago. Bitcoin (BTC) briefly fell below $55,000 but has since reclaimed the $67,000 mark. The global crypto market cap has also risen to $2.57 trillion.
Also Read: Top 3 Cryptocurrencies That Could Hit ATH Post Ethereum ETF
The market resurgence could be due to increased investor sentiment as the chances of Donald Trump winning the US presidential race increase. Trump has been a vocal supporter of crypto, and investors believe he will be lenient on the budding asset class. The assassination attempt on Trump’s life has greatly increased his chances of reclaiming the Oval Office.
Top 3 cryptocurrencies to watch this week
Ethereum (ETH):
Ethereum also follows BTC’s lead, rallying 3.6% in the weekly charts and 18.8% over the last two weeks. There is a lot of talk that an ETH ETF will make a debut sometime in July. If an ETH ETF is launched we may witness a market-wide rally, similar to what we witnessed earlier this year after the launch of the 11 Bitcoin ETFs.
dogwifhat (WIF):
WIF is one of the best-performing cryptocurrencies over the past one year. The asset is currently the best-performing asset in the weekly charts, rallying by over 48% in the last seven days, over 62% in the 14-day charts, and more than 50% over the previous month.
Also Read: Top 3 Cryptocurrencies To Watch This Week That Are Under $1
Memecoins, in general, seem to be in the spotlight, with other meme cryptocurrencies, such as Floki, Bonk, and Pepe, close behind WIF. Investors may be opting for memecoin as mainstream assets have faced significant corrections over the last few weeks.
Toncoin (TON):
Another cryptocurrency that has had a sharp increase in value over the past year is TON. With price declines of 2.4% in the daily charts, 6.1% in the weekly charts, 1.1% in the 14-day charts, and 2% over the previous month, TON has had a major price correction.
TON could witness a rebound this week and join other mainstream assets in the market rally.