Kava

Injective

Dogecoin

Polygon

Avalanche

<p>Several key events are set to shape the crypto market this week. Here’s a breakdown of the most significant updates and events for altcoins, as <a href="https://twitter.com/TheDeFinvestor/status/1731297088716042425" target="_blank" rel="noopener nofollow">highlighted</a> by crypto analyst The DeFi Investor:</p> 
<h2 id="1-inj-injective-protocol-top-crypto-pick">#1 INJ – Injective Protocol (Top Crypto Pick)</h2> 
<p>On November 30, Injective Protocol announced “the largest mainnet upgrade in history”, expected to go live in a few weeks. The team’s confident statement, “The world is not ready,” suggests significant developments.</p> 
<p>The update is called “Volan” and is the result of months of development. It aims to optimize network performance and user experience. Precisely, it introduces sub-second block times for faster transactions, Inter-Blockchain Communication protocol (IBC) integration for enhanced interoperability with the Cosmos ecosystem, CosmWasm smart contracts support for diverse application development, EVM compatibility for easier migration from Ethereum, and a governance module to involve INJ token holders in decision-making.</p> 
<p>Remarkably, this upgrade is expected to go live in Q4 2023 and will require a hard fork. The upgrade has the potential to generate new hype around the project. Technical analysis shows bullish momentum in INJ price with key resistance and support levels at $21.48 and $17.13 respectively.</p> 
<img loading="lazy" decoding="async" class="size-full wp-image-267682" src="https://bitcoinist.com/wp-content/uploads/2023/12/INJUSD_2023-12-04_11-37-51.png?resize=1024%2C472" alt="INJ price" width="1024" height="472" srcset="https://bitcoinist.com/wp-content/uploads/2023/12/INJUSD_2023-12-04_11-37-51.png?resize=1024%2C472?w=3628 3628w, https://bitcoinist.com/wp-content/uploads/2023/12/INJUSD_2023-12-04_11-37-51.png?resize=1024%2C472?w=640 640w, https://bitcoinist.com/wp-content/uploads/2023/12/INJUSD_2023-12-04_11-37-51.png?resize=1024%2C472?w=768 768w, https://bitcoinist.com/wp-content/uploads/2023/12/INJUSD_2023-12-04_11-37-51.png?resize=1024%2C472?w=980 980w, https://bitcoinist.com/wp-content/uploads/2023/12/INJUSD_2023-12-04_11-37-51.png?resize=1024%2C472?w=1536 1536w, https://bitcoinist.com/wp-content/uploads/2023/12/INJUSD_2023-12-04_11-37-51.png?resize=1024%2C472?w=2048 2048w, https://bitcoinist.com/wp-content/uploads/2023/12/INJUSD_2023-12-04_11-37-51.png?resize=1024%2C472?w=750 750w, https://bitcoinist.com/wp-content/uploads/2023/12/INJUSD_2023-12-04_11-37-51.png?resize=1024%2C472?w=1140 1140w, https://bitcoinist.com/wp-content/uploads/2023/12/INJUSD_2023-12-04_11-37-51.png?resize=1024%2C472?w=3000 3000w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"> 
<h2 id="2-matic-polygon">#2 MATIC – Polygon</h2> 
<p>Polygon Labs is set for a busy December with key events. The <a href="https://www.newsbtc.com/matic/what-is-polygon/" target="_blank" rel="noopener nofollow">Polygon</a> Connect event in India on December 7 marks a pivotal moment in India’s blockchain history. A public demo of Polygon’s next-generation ZK product is scheduled for December 14. Finally, on December 20, new products aimed at improving RWA and institutional adoption are set to be announced​.</p> 
<p>This eventful December could give the MATIC price a new boost, with $0.745 (0.236 Fibonacci retracement level) being the key support. On the upside, $0.90 (0.382 Fibonacci retracement level) is the next major price target.</p> 
<img loading="lazy" decoding="async" class="size-full wp-image-267683" src="https://bitcoinist.com/wp-content/uploads/2023/12/MATICUSD_2023-12-04_11-40-05.png?resize=1024%2C472" alt="MATIC price" width="1024" height="472" srcset="https://bitcoinist.com/wp-content/uploads/2023/12/MATICUSD_2023-12-04_11-40-05.png?resize=1024%2C472?w=3628 3628w, https://bitcoinist.com/wp-content/uploads/2023/12/MATICUSD_2023-12-04_11-40-05.png?resize=1024%2C472?w=640 640w, https://bitcoinist.com/wp-content/uploads/2023/12/MATICUSD_2023-12-04_11-40-05.png?resize=1024%2C472?w=768 768w, https://bitcoinist.com/wp-content/uploads/2023/12/MATICUSD_2023-12-04_11-40-05.png?resize=1024%2C472?w=980 980w, https://bitcoinist.com/wp-content/uploads/2023/12/MATICUSD_2023-12-04_11-40-05.png?resize=1024%2C472?w=1536 1536w, https://bitcoinist.com/wp-content/uploads/2023/12/MATICUSD_2023-12-04_11-40-05.png?resize=1024%2C472?w=2048 2048w, https://bitcoinist.com/wp-content/uploads/2023/12/MATICUSD_2023-12-04_11-40-05.png?resize=1024%2C472?w=750 750w, https://bitcoinist.com/wp-content/uploads/2023/12/MATICUSD_2023-12-04_11-40-05.png?resize=1024%2C472?w=1140 1140w, https://bitcoinist.com/wp-content/uploads/2023/12/MATICUSD_2023-12-04_11-40-05.png?resize=1024%2C472?w=3000 3000w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"> 
<h2 id="3-avax-avalanche">#3 AVAX – Avalanche</h2> 
<p>Republic Crypto plans to launch a tokenized security, R/Note, on the Avalanche blockchain. This <a href="https://bitcoinist.com/avalanche-joins-cosmos-via-ibc-bullish-for-defi/" target="_blank" rel="noopener ">initiative</a> enables stablecoin dividends to investors and is an example of the growing trend of RWA investments in cryptocurrency. The uniqueness of R/Note requires stricter regulations, and Avalanche’s features make it an ideal host.</p> 
<p>Avalanche’s native token (AVAX) has seen a whopping 165% surge since October 19. Notably, AVAX recorded a new yearly high at $24.59 on November 17.</p> 
<h2 id="4-kava-kava-network">#4 KAVA – Kava Network</h2> 
<p>Kava Network’s Kava 15 mainnet upgrade, scheduled for December 7, will reduce the KAVA inflation rate to zero by the end of December. This change will freeze the circulating supply of KAVA, ensuring no new coins can be created. Post-upgrade, Kava’s operation will rely on transaction fees, emissions from native projects, and allocations from the Kava Foundation, with the community having a say in the reinvestment or destruction of profits​.</p> 
<p>The most important support for the KAVA price is currently at $0.79 (0.236 Fibonacci level). If this level holds, a rally to 0.94 could be the next logical step.</p> 
<img loading="lazy" decoding="async" class="size-full wp-image-267681" src="https://bitcoinist.com/wp-content/uploads/2023/12/KAVAUSD_2023-12-04_11-36-22.png?resize=1024%2C472" alt="KAVA price" width="1024" height="472" srcset="https://bitcoinist.com/wp-content/uploads/2023/12/KAVAUSD_2023-12-04_11-36-22.png?resize=1024%2C472?w=3628 3628w, https://bitcoinist.com/wp-content/uploads/2023/12/KAVAUSD_2023-12-04_11-36-22.png?resize=1024%2C472?w=640 640w, https://bitcoinist.com/wp-content/uploads/2023/12/KAVAUSD_2023-12-04_11-36-22.png?resize=1024%2C472?w=768 768w, https://bitcoinist.com/wp-content/uploads/2023/12/KAVAUSD_2023-12-04_11-36-22.png?resize=1024%2C472?w=980 980w, https://bitcoinist.com/wp-content/uploads/2023/12/KAVAUSD_2023-12-04_11-36-22.png?resize=1024%2C472?w=1536 1536w, https://bitcoinist.com/wp-content/uploads/2023/12/KAVAUSD_2023-12-04_11-36-22.png?resize=1024%2C472?w=2048 2048w, https://bitcoinist.com/wp-content/uploads/2023/12/KAVAUSD_2023-12-04_11-36-22.png?resize=1024%2C472?w=750 750w, https://bitcoinist.com/wp-content/uploads/2023/12/KAVAUSD_2023-12-04_11-36-22.png?resize=1024%2C472?w=1140 1140w, https://bitcoinist.com/wp-content/uploads/2023/12/KAVAUSD_2023-12-04_11-36-22.png?resize=1024%2C472?w=3000 3000w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"> 
<h2 id="5-doge-dogecoin">#5 DOGE – Dogecoin</h2> 
<p>Tesla has officially started deliveries of its Cybertruck and Dogecoin <a href="https://bitcoinist.com/teslas-official-website-launches-a-dogecoin-page/" target="_blank" rel="noopener ">appears </a>over 50 times on the Tesla Cybertruck checkout page. According to the analyst, this could be a significant catalyst for the DOGE price.</p> 
<h2 id="bonus-tip-gamefi-tokens">Bonus Tip: GameFi Tokens</h2> 
<p>For GameFi enthusiasts, the analyst has highlighted the release of the <a href="https://bitcoinist.com/why-rockstars-gta-6-could-have-in-game-bitcoin-payments/" target="_blank" rel="noopener ">GTA 6</a> trailer on December 5, 2023. This event could generate significant interest and hype in the GameFi sector, sending GameFi tokens heading north.</p>

Top 5 Cryptos Set For A Major Move This Week

Table of Contents

Bitcoinist

Other articles published on Dec 4, 2023

The Current State of Bitcoin and Altcoins in the Market

Coinbase CEO: Bitcoin May Be ‘Key To Extend Western Civilization’

North Korean Hackers Steal $3 Billion in Cryptocurrency

Bitcoin to Reach All-Time Highs Sooner Than Expected, Analyst Predicts

Shiba Inu (SHIB) Triggers 341% Volume Increase, Reason Behind It?

Crypto.com Secures EMI Authorization from UK’s Financial Watchdog

Join our free newsletter for daily crypto updates!