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Title: Crypto News: 3 Altcoins With Breakout Potential This Weekend
As the crypto market continues to show signs of recovery, traders are keeping a close eye on several altcoins, looking for potential breakout plays beyond Bitcoin. In this article, we will be highlighting three altcoins that could potentially break out and offer significant upside.
Firstly, it’s important to note that Cardano (ADA) is still a hot topic in the crypto community, with its focus on scalability, sustainability, and energy efficiency garnering attention. Despite a 2.98% dip in the past 24 hours and a 14.85% decline over the past week, ADA remains within a tight consolidation range. Market expert Marcus Cornivurus believes that “a break and hold above $0.82 unlocks a $1.18 target,” indicating significant upside potential.
ADA’s Total Value Locked (TVL) has reached $375.2 million, marking a 5.82% increase in just 24 hours, suggesting growing user engagement. Furthermore, the stablecoin market cap on Cardano stands at $32.42 million, highlighting its ability to maintain its value and stability.
Next up is Lido DAO (LDO). LDO serves as the governance token behind Ethereum’s leading liquid staking platform. The protocol has made it easy for users to stake their crypto assets without locking them or running a validator node themselves. In return, users receive staked tokens that remain liquid and can be used in DeFi applications.
The data suggests that Lido DAO is gaining traction, with a 29% increase over the past seven days, currently trading at $1.07. There are rumors of Lido expanding its services to other blockchain networks, which could further boost LDO’s utility and appeal.
Finally, Ethereum Classic (ETC) has posted an impressive 33% gain in the last week alone, with a 7% surge in just 24 hours, bringing the price up to $24.17. This rally was sparked by a decisive breakout above the key resistance level of $21.48 and is now eyeing a break above $28.
This surge has also led to an explosion in trading volume, which skyrocketed by 139% to $1.04 billion, effectively increasing Ethereum Classic’s market capitalization to $3.77 billion.
ETC represents the original unaltered Ethereum chain, born from the infamous 2016 DAO hack when $50 million was stolen from an Ethereum-based fund. With its commitment to decentralization and lower transaction fees, ETC is garnering attention as traders reassess its value.
In conclusion, while it’s crucial to remember that no guarantees can be made for any given altcoin, these three names have shown impressive moves in the last week alone.
Source: www.crypto-news-flash.com
