Several cryptocurrencies to keep an eye on in the upcoming week
The cryptocurrency market is generating a lot of noise as we enter the week of February 13th, with all eyes on the digital assets that are expected to move the most significantly. The market has slowed down as a result of heightened regulatory scrutiny, but there are still several cryptocurrencies with strong upside potential.
SingularityNET (AGIX) (AGIX)
One of the top cryptocurrencies to keep an eye on this week is SingularityNET (AGIX), a decentralized crypto ecosystem with an emphasis on artificial intelligence. The platform has recently experienced a boom in popularity because to the buzz surrounding AI-related products like the text-based ChatGPT. It enables users to effortlessly build, distribute, and sell AI services. AGIX has also garnered attention for its alliances, notably a current relationship with Cardano (ADA).
The question of whether AGIX can maintain its AI-driven advantages will be in the spotlight as seasoned IT behemoths like Microsoft and Alphabet battle for a part of the AI industry. AGIX is up almost 1.5% daily and nearly 30% weekly as of the time of writing, trading at $0.41. Bullish mood is predominate in the cryptocurrency market, with both moving averages and one-day indicators strongly suggesting a buy.
Ethereum (ETH) (ETH)
Ethereum (ETH), which investors are preparing to start withdrawing once the Shanghai upgrade goes live in March, is another cryptocurrency to keep an eye on. Although the changes might raise the price of Ethereum, the asset is still under investigation because of a renewed regulatory crackdown on staking by US regulators.
A recent agreement between the Securities Exchange Commission and the cryptocurrency exchange Kraken to stop offering staking services will probably have an impact on the future price of Ethereum (ETH). Cardano creator Charles Hoskinson has also questioned Ethereum staking, which the sector may suffer from because to concerns over centralization. Technical indicators for ETH are neutral, with oscillators, moving averages, and one-day gauges all at neutral levels.
Cardano (ADA) (ADA)
Another cryptocurrency to watch is Cardano (ADA), whose native token for its network is predicted to appreciate in value. Cardano ranks well in terms of GitHub activity and staking market value, but its price will probably be affected by staking regulations. The inventor of Cardano has suggested a contingent staking strategy to address these issues, however the price of ADA will be impacted by the ongoing fallout from the staking dispute in the next week.
At the time of writing, ADA is up more than 2% on a daily basis and trading at $0.37. The technical analysis of the cryptocurrency has changed to be negative, with both moving averages and one-day gauges signaling a sell.
TRON (TRX) (TRX)
Another cryptocurrency to keep an eye on is TRON (TRX), because to ongoing network improvements and anticipated collaborations. With the introduction of a new decentralized payment structure for AI systems, such as OpenAI’s ChatGPT, the platform is expanding into the AI industry.
The price of TRX is still worth keeping an eye on, but with a recent report suggesting a sharp decline in volume, the platform may see some difficulties in the near future. This means that fewer individuals are trading TRX actively, which might affect the liquidity of the cryptocurrency. TRON is up roughly 2% on the daily chart and is trading at $0.06 at the time of writing. The cryptocurrency is still rising, with both moving averages and one-day indicators showing a