Top Cryptocurrencies to Watch This Week Amid Crypto Market Surge

• The global crypto market cap soared by $150 billion in a week, rising 6.17% to $2.58 trillion.
• FLOKI rebounded by 17% in the last 24 hours, now trading at $0.0002637.
• JasmyCoin has surged 24% to $0.02806, breaking out of a two-year consolidation trend.

The cryptocurrency market is gearing up for a significant week, with several major cryptocurrencies facing potential catalysts that could highly influence their price.

Last week, multiple top cryptocurrencies experienced a second wave of price increases, continuing the positive momentum from the prior week. This resulted in a substantial rise in the global cryptocurrency market cap, which grew by $150 billion in the past week, marking a 6.17% increase to $2.58 trillion.

Here we picks some of the top cryptocurrencies to watch this week, following their recent trends, including price, trading activity, and community attention.

Floki (FLOKI)

• Market Cap: $2.52 Billion
• Trading Volume: $551 Million.

Floki (FLOKI) has seen a significant resurgence following Coinbase’s announcement of its listing for perpetual futures contracts. Despite minor declines over the past month, FLOKI’s price has rebounded by 17% in the last 24 hours, now trading at $0.0002637. Over the past week, the price has surged by over 36% and 53% over the past month. Additionally, the daily trading volume of FLOKI has increased by more than 97% in the last 24 hours.

If the current upward trend continues, FLOKI could rise to $0.0002758 this week, potentially reaching its yearly high of $0.0002964. Further gains might push FLOKI past its 2021 high of $0.00030. Conversely, if the price dips below $0.0002231, it could decline to $0.0002105, with further drops to $0.0001926 and $0.0001657 possible. 

However, FLOKI is expected to trade between $0.0002998 and $0.0002303 this week.

Ethena (ENA)

• Market Cap: $1.40 Billion
• Trading Volume: $315 Million

The newcomer Ethena launched in February 2024, has quickly gained traction, securing the 68th position in the cryptocurrency market. Ethena is a synthetic dollar protocol built on Ethereum. That offering a crypto-native solution for money independent of traditional banking infrastructure, along with a globally accessible dollar-denominated savings instrument known as the ‘Internet Bond’.

However, Ethena is set to announce four new DeFi integrations and new centralized exchange (CEX) integrations for its USDe stablecoin next week. These developments could enhance the adoption and utility of the ENA token and the USDe stablecoin, potentially impacting their prices positively. 

At the time of writing, Ethena traded at $0.9267. The ENA price has risen by 7.18% in the past day and 28.4% over the past week, with daily trading volume increasing by 5.42% to $315 million. Ethena is expected to trade between $0.7419 and $0.9876.

JasmyCoin (JASMY)

• Market Cap: $1.3 Billion
• Trading Volume: $420 Million

JasmyCoin (JASMY), which peaked in 2021 before entering a prolonged bear market, has finally broken out of its two-year consolidation trend. Its price has surged by 24% to $0.02872, driven by a spike in trading activity. The daily trading volume skyrocketed by 655% in the last 24 hours to $421 million, reaching its highest level since April 2022. Further, JasmyCoin’s price has climbed over 330% since the beginning of 2024.

Although experts anticipated rejection and a subsequent bearish pullback, they would keep the rally above major support levels if the bulls maintained significant control. With the start of the new quarter, JasmyCoin has triggered a fresh upswing, which is expected to continue, potentially resulting in another 100% rally in the coming months.

Finally, Ethena is expected to trade between $0.02377 to $0.03256 in a week.

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Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.