Tech

5 Cryptocurrency to Buy for Price Boom This Weekend – June 2022 Week 3

06/17/2022
Bitcoin Ethereum News

The cryptocurrency market continues to weather difficult conditions. Amid interest rate hikes and contagion fears, its total cap has dropped by 2% in the past day. At $950 billion, it has also fallen by 26% in the past week. Pretty much no coin has escaped this selloff, with some tokens falling by 30% or more in the last seven days. However, the more the market falls, the more — in theory — it should be due a rebound. Accordingly, we’ve put together a list of the 5 cryptocurrency to buy for price boom this weekend. This covers coins with good long- and short-term potential.

5 Cryptocurrency to Buy for Price Boom This Weekend

1. Lucky Block (LBLOCK)

LBLOCK is down by 5% in the past 24 hours. At $0.00104334, it’s also down by 20% in the past week and by 36% in the past 14 days.

Lucky Block (LBLOCK) price chart - 5 cryptocurrency to buy for price boom this weekend.

LBLOCK had begun inching upwards yesterday, recovering from the week’s earlier market selloff. But with the market continuing to slide today, LBLOCK has been unable to escape further harm.

Still, the altcoin is now in a position where it can capitalise significantly as and when the market recovers. Its native platform Lucky Block has begun holding regular draws, having held its first prize draw at the end of May.

Based on Binance Smart Chain, Lucky Block’s daily draws guarantee a minimum prize for winners of at least $10,000. This amount can often be higher, with the fund for today’s draw being $50,000.

Under more bullish market conditions, you’d expect a growing platform such as Lucky Block to see rising value. Nonetheless, the project continues to develop steadily, improving its chances of pumping when sentiment becomes more positive.

For example, Lucky Block is planning an Ethereum-based ERC-20 version of the LBLOCK token, something which will increase liquidity. On top of this, it’s also in the process of rolling out a number of other games, with raffles also being planned to complement prize draws.

2. Bitcoin (BTC)

As of writing, BTC is $21,115. This represents a 3% drop in the past 24 hours, as well as a 30% fall in the last week. If that weren’t disappointing enough, BTC has also fallen by 69% since reaching an all-time high of $69,000 in November.

Bitcoin (BTC) price chart - 5 Cryptocurrency to Buy for Price Boom This Weekend.

BTC is at a very low ebb right now, and if you were judging solely by technicals, it should rise again very soon. Its relative strength index (in purple) is at about 25, indicating overselling. Likewise, its 30-day moving average (in red) has sunk very far below its 200-day average (in blue). If recent history is any guide, it should therefore begin swinging back upwards soon.

There are numerous fundamental reasons to be optimistic about BTC. Again, history predicts that any renewed bear market will be caused by bitcoin surging ahead, so if investors are going to pick any coin right now, it may as well be it.

Secondly, and relatedly, bitcoin continues to benefit from its strong network effects and high blockchain security. It also enjoys more real-world use than its rivals. Institutions hold around $28 billion in BTC, while banks have been slowly increasing their involvement with the cryptocurrency in recent months. Then there are the nations which turn to BTC during periods of very high inflation (e.g. Turkey and Argentina), as well as those that make it legal tender (El Salvador and the Central African Republic).

3. Theta Fuel (TFUEL)

At $0.04877880, TFUEL is the biggest-gaining top-1oo coin right now, having risen by 8% in the past 24 hours. It is, however, down by 22% in the past week and by 31% in the past month.

Theta Fuel (TFUEL) price chart - 5 cryptocurrency to buy for price boom this weekend.

TFUEL’s RSI shows a climb upwards from sub-30. There’s no telling how much longer this momentum may last, but with most coins down right now, it’s a rare ray of light.

TFUEL is the utility token of the Theta Network, a blockchain for video and media delivery. Basically, Theta is a Web3 platform, and has benefitted recently from a number of new partnerships.

Punt Crypto Casino Banner

For instance, its NFT marketplace, ThetaDrop, very recently announced that electronics giant Sony would be releasing a 3D NFT via the platform. This is a big part of the reason for its current peak.

More generally, the Theta Network is looking forward to the launch of its fourth-generation mainnet. Dubbed, Theta Metachain, it will be geared specifically towards Web3 and metaverse-related uses, offering greater speed and scalability than its previous versions.

With the launch of the Theta Metachain in the final quarter of the year, TFUEL will no doubt enjoy expanded use as the native utility token. This is why it’s one of our 5 cryptocurrency to buy for price boom this weekend.

4. Helium (HNT)

HNT has risen by 6% in the past 24 hours, rising to $11.19. It’s down by 5% in the past week, but remains up by 29% in the past 14 days and by 21% in the past month.

Helium (HNT) price chart.

HNT’s chart shows that it has been doing better than most coins over the past couple of weeks. Whereas nearly every other major coin has had its RSI down since the beginning of June, HNT’s RSI has been up. This indicates good momentum, particularly when wider market conditions are so poor.

Helium’s recent growth as a blockchain for the Internet of Things largely responsible for its recent fortunes. It recently launched its official Helium mobile app for iOS and Android, something which expands its sphere of access considerably.

Helium is also seeing the growth of its network, with the platform recently revealing an exciting new partnership with tyre manufacturer Goodyear. And with Helium already counting just over 834,000 IoT hotspots, it’s already bigger than many people realise.

5. Monero (XMR)

XMR is up by 5% in the past day, at $114.50. This means it’s down by 38% in the past week and by 43% in the past fortnight.

Monero (XMR) price chart.

XMR’s indicators are way down, indicating the potential for a resurgence. Looking at its fundamentals, the biggest privacy coin in the market has a few reasons to be optimistic.

Most notably, it’s planning a major upgrade. Due to go live on July 16th, it will improve the privacy and security offered by Monero even further. As such, expect the market to get more excited about XMR around this time.

In fact, the market already had reason to be more interest in Monero: it rolled out its ‘Tail Emission’ upgrade on June 8th. This introduced a perpetual 0.6 XMR block reward for miners. So even though Monero was originally conceived as having a fixed supply, it will now issue new XRM in perpetuity. In theory, this incentivises miners to continue securing the network, making it more stable. This has been well received by the Monero community, which is why XMR is one of our 5 cryptocurrency to buy for price boom this weekend.

Capital at risk

Read more:

Source: https://insidebitcoins.com/news/5-cryptocurrency-to-buy-for-price-boom-this-weekend-june-2022-week-3