The crypto market starts the week on a positive note, with Bitcoin and most altcoins going up. Bitcoin price jumped closer to the important resistance point at $120,000. Other altcoins like Hedera, Stellar, and Ripple also jumped sharply.
This article explores some of the top crypto to watch this week, including popular names like Cardano (ADA), IOTA (IOTA), and LayerZero (ZRO).
Cardano (ADA)
The Cardano price has staged a strong comeback over the past few weeks, rising from a low of $0.5100 in June to $0.7500 today. This surge is because of the ongoing crypto market rally and the upcoming NIGHT airdrop.
Midnight is a privacy-focused blockchain built as a sidechain to Cardano. Its main benefit is that it will introduce zero-knowledge (ZK) proofs, which promote security in data sharing. Its goal is to bridge the gap between public blockchains and the need for privacy.
Midnight will have two tokens: NIGHT and DUST. NIGHT will be airdropped to Cardano holders and those in other popular layer-1 blockchains.
Although the airdrop date has not been confirmed, some analysts believe it will occur this week. If this happens, there is a likelihood that the Cardano price will jump sharply this week.
READ MORE: XLM Price Prediction: Here’s Why Stellar Token Could Surge Soon
LayerZero (ZRO)
LayerZero is a top blockchain project that enables applications to move data across blockchains. It helps to support censorship-resistant messages and permissionless development. Some of the top Apps using it are Stargate, Pendle, EtherFi, and Onyx by JPMorgan.
LayerZero will be in the spotlight this week as the network unlocks tokens worth over $52 million. These unlocks are worth about 21.6% of the float.
LayerZero has a circulating supply of 161 million and a maximum supply of 1 billion. The network will continue unlocking 32.61 million ZRO tokens every 20th up to 2027. Therefore, the LayerZero token is likely to experience some volatility before and after the unlock.
READ MORE: Pi Crypto Coin Price Analysis: Coiled Spring Ready to Pounce?
IOTA (IOTA)
IOTA token has been in the spotlight in the past few months as investors observed the Rebased upgrade. Rebased introduced multiple features, including staking and smart contracts.
The IOTA price has plunged in the past few months following the upgrade, as investors reacted to the lack of an established ecosystem. There are signs that this is changing after the recent launch of Pools Finance, the first decentralized exchange on IOTA.
Therefore, IOTA will be in the spotlight as investors focus on Pools and whether it is gaining traction among investors. Virtue Money also launched on IOTA, becoming the first stablecoin protocol on the network.
The other top crypto to watch this week will be Bitcoin, which will determine the performance of other cryptocurrencies. Traders will also closely watch mainstream tokens such as Solana, Ethereum, and Binance Coin.
