Bitcoin has remained stagnant for some time, seemingly awaiting a catalyst to drive its price movement. Meanwhile, the broader crypto market is in the red over the past week.
While market conditions could shift later this week, now is a good time to explore which cryptocurrencies are worth watching in the days ahead.
Dogecoin is making headlines again as the U.S. Securities and Exchange Commission (SEC) has officially acknowledged asset management firm Grayscale’s filings for spot Dogecoin exchange-traded funds (ETFs). This marks the beginning of a review process that could potentially bring these crypto funds to market.
While the leading memecoin has cleared its first regulatory hurdle, SEC approval is far from certain. However, the news could influence Dogecoin’s price in the short term.
As of now, Dogecoin is trading at $0.25, down 4% over the past week.
XRP is the native token of the XRP Ledger, an open-source blockchain. It is used by the Ripple payment network to facilitate cross-border transactions and is designed to act as a bridge currency.
There are speculations that the SEC may soon approve XRP exchange-traded funds (ETFs). Last week, the SEC acknowledged Grayscale filings for the Grayscale XRP Trust and will start reviewing it.
Currently, XRP is trading at $2.6, representing a rise of 5.2% in a week.
Solana is one of the fastest-growing major cryptocurrencies. It competes with Ethereum in terms of speed and has emerged as a strong platform for hosting hundreds of decentralized applications (dApps). Additionally, several popular memecoins are developed on the Solana blockchain, which has further expanded Solana’s use cases.
Following the successful launch of Bitcoin and Ether ETFs, there are strong indications that Solana ETFs may be launched soon. Several asset management companies have already submitted applications for them.
Currently, Solana is trading at $169, representing a fall of 15% in a week.
Just like Grayscale’s filings for XRP and Dogecoin, the Securities and Exchange Commission (SEC) has acknowledged Canary Capital’s application for a spot Litecoin (LTC) exchange-traded fund (ETF) within two weeks of its initial filing. This news has led to a significant price surge fueled by speculation about increasing institutional interest. Due to Litecoin’s functional similarities to Bitcoin, some analysts believe that the SEC may be more inclined to approve the ETF soon.
Currently, Litecoin (LTC) is trading at $126, reflecting a 0.9% fall in a week.
Sonic, formerly known as Fantom, is a blockchain network designed to process high volumes of transactions efficiently. It recently hit an all-time high in Total Value Locked (TVL), reaching $350 million. In the crypto space, TVL measures the total value of assets locked in a decentralized finance (DeFi) platform and serves as a key indicator of the ecosystem’s health. A rising TVL often signals increased liquidity, adoption, and usability — factors that drive a project’s overall success.
Currently, Sonic is trading at $0.59, reflecting a 26% increase in a week.
The post Dogecoin, XRP, Sonic and more cryptocurrencies to watch this week appeared first on Quartz.
