The cryptocurrency market seems to be undergoing another correction, with the global market cap falling 3.4% in the last 24 hours to $2.42 trillion. Bitcoin (BTC) has also fallen below $65,000, while Ethereum (ETH) has plummeted 7.5% in the last 24 hours.
The latest market dip could be due to increased liquidations. Analysts also highlight the Mt. Gox reimbursement as a potential reason for increased sell pressure on the market.
With that said, let’s look at three crypto assets you could watch this weekend.
Top 3 cryptocurrencies to watch this weekend
Ethereum (ETH):
ETH has faced a major blow, especially given that the ETH ETFs have just gone live. The ETF launch seems to be a sell-the-news event rather than a bullish development. The second-largest cryptocurrency has dipped by over 7% in the daily charts and 6% over the previous week.
Also Read: Ethereum (ETH) Plummets Despite ETF Launch: Here’s Why
It is possible that ETH will recover its momentum over the next few days. It took BTC about two months to hit a new all-time high after the launch of the BTC ETFs in January. We may witness a similar pattern for ETH as well.
Solana (SOL):
SOL has dipped 1.3% in the daily charts but is up by 7.8% in the weekly charts, 21.5% in the 14-day charts, and 26.6% over the previous week.
Also Read: Top 3 Cryptocurrencies to Watch This Week: July-End 2024
There is a lot of talk about an SOL ETF possibly being approved in light of the recent ETH ETFs. The SOL network has also outperformed the ETH network in terms of transaction speed and gas fees, which may help the asset’s adoption.
XRP:
Ripple’s XRP is green across the board, rallying by nearly 2% in the daily charts, 4.7% in the weekly charts, 38% in the 14-day charts, and more than 28% over the previous month. The SEC vs. Ripple lawsuit is expected to conclude very soon. A positive ruling could lead to a significant price rally for the cryptocurrency.