With most cryptocurrencies starting to recover, investors are trying to discern which are worthy of their attention in the first week of May.
While the majority of the
cryptocurrency sector starts to slowly recover, most digital assets taking their cue from the market’s heavyweights, Bitcoin (
BTC) and Ethereum (
ETH),
crypto traders and
investors are trying to discern which
cryptocurrencies are worthy of their attention in the first week of May.
With this in mind, Finbold has examined the market, checking for the latest developments and success indicators related to some of the most promising
crypto assets, and arrived at the list of the top five to pay attention to as the week of May 1 unfolds.
Formerly known as Elrond, MultiversX (
EGLD) has just announced
listing on the
crypto exchange Upbit, in a move that could send its price rallying, as was recently seen with Floki (
FLOKI), the price of which
soared after listing by Binance.US, the American branch of the crypto trading platform
Binance, as Finbold reported.
Meanwhile, MultiversX was at the time of publication changing hands at $44.44, recording a drop of 3.79% in the past 24 hours but writing down gains of 10.25% during the previous week and a slightly lower 3.05% in the last month, as the charts indicate.
MultiversX 30-day price chart. Source: Finbold
Following OKX’s
announcement of a strategic partnership with
blockchain security company SlowMist,
support for Sui Network’s SUI, and the largest
upgrade to its Proof-of-Reserves (PoR) yet, the crypto exchange’s native OKB (
OKB) token made a brief but significant rally before settling into its current price.
At present, the price of OKB is $47.49, declining 0.89% on the day and 10.91% over the week but witnessing an 11.59% increase during the last 30 days, with a chance of further strengthening due to the recent developments, as per the recent data retrieved by Finbold on May 1.
OKB 30-day price chart. Source: Finbold
After the brief drop caused by the massive sell-off, Bitcoin (
BTC) is back trying to breach the psychological level of $30,000 and is about to close the fourth month in a row with a green candle, signaling that the
bear market is finally and officially over. Moreover, crypto analysts
expect to see it move toward $41,000 and $47,000.
Bitcoin price action. Source: Bitcoin Archive
Presently, the flagship decentralized finance (
DeFi) token is trading at the price of $29,124, which is an increase of 0.73% on the day and a gain of 3.07% over the past week. In addition, Bitcoin has seen a climb of 6.72% in the last 30 days.
Bitcoin 30-day price chart. Source: Finbold
Earlier in March, sports utility crypto project Chiliz (
CHZ) announced the creation of a $50 million incubator and accelerator program called Chiliz Labs, which aims to assist Web3 projects in the gaming and entertainment sectors building on its blockchain, whereas the new Chiliz Sports Blockchain is expected to launch on May 10.
At press time, the price of Chiliz stood at $0.13, demonstrating a 0.15% decrease in the last 24 hours, as well as a loss of 1.48% across the previous seven days, while growing 10.05% on its monthly chart, as per the most recent information.
Chiliz 30-day price chart. Source: Finbold
Furthermore, as one of the
top three cryptocurrencies by GitHub development in the past month, Cardano (
ADA) is constantly going through innovation and development. Notably, one of the most recent positive events is the
revamping of its
‘Architects of the Future‘
delegation strategy to foster growth, as well as the
announcement of a new game from Dead Pxlz on the Cardano ecosystem.
In the meantime, the price of Cardano amounts to $0.40. This represents a 3.10% negative change on the day, and a 0.59% drop in the last seven days, whereas it is recording a 7.68% gain across the month, as the most recent charts suggest.
Cardano 30-day price chart. Source: Finbold
It goes without saying that the further success of the above-mentioned digital assets will generally depend on the continuation of their teams’ positive development efforts and events directly relating to the cryptocurrencies themselves, as well as the outside factors, such as the general crypto market and macroeconomic sentiment.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
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