Summary:
Bitcoin remains stagnant while the broader market is in the red.
Dogecoin clears a regulatory hurdle with SEC's acknowledgment of ETF filings.
XRP gains traction with potential ETF approval from the SEC, trading at $2.6.
Solana is emerging as a strong platform with possible ETF launches, trading at $169.
Sonic achieves a significant milestone with a TVL of $350 million, trading at $0.59.
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.
Illustration: Chinnapong (Getty Images)
Dogecoin's Regulatory Milestone
Dogecoin is making headlines again as the U.S. Securities and Exchange Commission (SEC) has officially acknowledged asset management firm Grayscaleâs 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 Dogecoinâs price in the short term. As of now, Dogecoin is trading at $0.25, down 4% over the past week.
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XRP's ETF Speculations
XRP is the native token of the XRP Ledger, an open-source blockchain used by the Ripple payment network to facilitate cross-border transactions. 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 5.2% rise in a week.
Illustration: Alvaro Fernandez Echeverria (Getty Images)
Solana's Rapid Growth
Solana is one of the fastest-growing major cryptocurrencies, competing with Ethereum in terms of speed and emerging as a platform for hosting hundreds of decentralized applications (dApps). Following the successful launch of Bitcoin and Ether ETFs, there are strong indications that Solana ETFs may be launched soon, with several asset management companies already submitting applications. Currently, Solana is trading at $169, reflecting a 15% fall in a week.
Illustration: Phira Phonruewiangphing (Getty Images)
Sonic's Impressive Performance
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. Currently, Sonic is trading at $0.59, reflecting a 26% increase in a week.
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