While other cryptocurrencies could do well this week, the odds are that Ethereum and Ethereum-based tokens will likely outperform the rest of the market in the week. Many ERC-20 tokens are already gaining upside momentum, an indicator that money is already flowing into the Ethereum ecosystem. Here are some of the top cryptocurrencies to watch today for a savvy investor looking to benefit from this week’s market trends.
Shiba Inu (SHIB)
One of the ERC-20 tokens likely to make a strong showing this week is Shiba Inu (SHIB). While the merge has nothing to do with SHIB directly, this ERC-20 token is pretty cheap, and investors looking for low-cost opportunities within the Ethereum ecosystem may find it quite attractive.
The hype around Ethereum aside, Shiba Inu’s recent pivot towards a more aggressive token burn could see its price rally going into the future. This makes it even more attractive as an investment because as the token supply drops against a background of growing demand, so does the potential for the price to rise.
Most importantly, with the merge, it will get cheaper to invest in Shiba Inu since the Ethereum fees will be much lower.
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Bitstamp
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.
Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
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The Graph (GRT)
With the Ethereum merge underway, one of the areas that are expected to benefit is Web 3.0. This market is already growing fast, and with Ethereum transactions set to get faster and cheaper, the room for growth could be exponential.
The Graph (GRT) is one of the cryptocurrencies that have the potential to revolutionize Web 3.0 by making the querying of data on the Ethereum network faster and more efficient. This coupled with the fact that it is trading at record lows, makes Th GRAPH a top cryptocurrency to watch as the hype around the merge continues to grow.
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Bitstamp
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Loopring (LRC)
Loopring (LRC) has the potential to record exponential growth during and after the merge. That’s because, with the merge, the lower transaction costs will trigger an increase in the number of trades in Ethereum tokens. This places Loopring in a good position, not just this week but going further into the future.
Loopring is one of the most used decentralized platforms for trading Ethereum tokens. With costs set to go lower, you can expect trading in these tokens to increase. As this happens, so does the potential for the LRC token to grow in value.
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KuCoin
Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies.
Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods.
Users can benefit from a beginner-friendly interface and relatively low fees.
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Aave (AAVE)
Ethereum has one of the largest DeFi ecosystems in the market today. With Ethereum now set to further entrench its dominance as the top L1 chain, with low costs and high transaction speeds, Ethereum transactions, especially DeFi is set to grow as well.
Aave (AAVE) is one of the cryptocurrencies expected to do well once the merge is complete. That’s because it is already one of the largest DeFi projects in the market today and handles most of the Ethereum DeFi transactions. As such, a significant increase in transactions increases the value of the Aave ecosystem and, by extension, the Aave token.
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Bitstamp
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Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
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The post ERC-20 Tokens to watch this week as the Ethereum Merge gets underway appeared first on CoinJournal.
