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Top Altcoin To Follow This Week

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The cryptocurrency market entered the second week of June with a value of $1.7 trillion. The market, which fell below the $2 trillion on May 19, was not able to come back above 2 Trillion USD.

BTC dominance rate, which indicates the share of Bitcoin in the market, fell below 42% before May 19 decline, and rose above 47% in a few days after the fall. According to Monday’s data, Bitcoin dominance is pulled back to 41.6%.

As no one knows how Bitcoin, altcoins and the market in general will be shaped during this week; Some news this week about Ethereum, Ripple, Polkadot, Tron, PancakeSwap, Zcash and NEXO might be worth following.

Ethereum (ETH)

News This Week: Ethereum developers will implement the London hard fork on the Ropsten testnet on June 9th.

Why To Follow: The London package includes protocols such as EIP-3198, EIP-3529, EIP-3541, EIP-3554. But the most anticipated thing to come with London hard fork is EIP-1559. This proposal, which will lead to a radical change in the gas fees mechanism in Ethereum, will be tested on the Ropsten, Goerli and Rinkeby networks, respectively. Eyes are turned to July for the transition to the mainnet,

Ripple (XRP)

News This Week: Ripple lawyers stated in the document they sent to the court on June 4 that the SEC’s documents on assessments of Bitcoin and Ethereum as not securities were still not delivered to them. Ripple applied to Judge Sarah Netburn for the delivery of documents. Ripple requested for a response to their request from the SEC by June 9.

Why To Follow: Ripple and the SEC continue to discover evidence against each other as part of the legal process that began in December 2020. The SEC still has not fulfilled a court decision, and has not submitted its internal correspondence about Bitcoin and Ethereum, not considering them as securities to Ripple. Ripple wants to examine the internal conversations the SEC has had over the years to declare Bitcoin or Ethereum not as securities. SEC; Since it does not recognize BTC and ETH as securities, but recognizes XRP as security, it is thought that the SEC hand will weaken if there is a statement to the contrary in the past talks.

Polkadot (DOT)

News This Week: Polkadot will hold a panel discussion on non-fungible tokens (NFT) on June 10.

Why To Follow: Thursday panel will feature names like Witek Radomski, founder and CTO of Enjin. The panel will discuss importance of NFT world along with major partnership announcement are expected.

Tron (TRX) and BitTorrent (BTT)

News This Week: APENFT Foundation will airdrop APENFT (NFT) to those who have TRC20-BTC, TRC20-ETH, TRC20-TUSD, TRX, BTT and JST tokens on the TRON network in order to drive up engagement from TRON users.

Why To Follow: The APENFT Foundation plans to distribute 5% of the total APENFT supply to the Tron community within a total time frame of 2 years. 1% of the total APENFT (NFT) supply will be airdropped in the first month. In the following two years, 4% of the total APENFT (NFT) supply will be airdropped once per month for 24 months. June 10, 2021 at 12:00 (UTC), total airdrop amount: 9,999,900,000,000 NFT. July 10, 2021 at 12:00 (UTC) to June 10, 2023 at 12:00 (UTC), total airdrop amount on 10th of every month: 1,666,650,000,000 NFT.

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PancakeSwap (CAKE) and Automata (ATA)

News This Week: PancakeSwap opened the pool for Automata token ATA. ATA is coming to PancakeSwap at 7am UTC on June 7th.

Why To Follow: A total of 3 million ATA will be distributed in the pool, which will remain open until August 6th. Binance also listed ATA in the Innovation Zone at 9:00 am today.

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Zcash (ZEC)

News This week: Zcon2 will be a virtual conference, streaming on YouTube will take place on Tuesday, June 8th and Wednesday, June 9th 2021.

Why To Follow: The theme of this year conference is “Privacy until the end”. On the first day of the conference, what is happening in the Zcash ecosystem, and on the second day, the work done in the field of privacy (current studies in areas such as zero-knowledge proof, interoperability, network privacy) will be discussed.

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News This Week: Governance Proposal: Daily Interest on NEXO and a Final Dividend.

Why To Follow: Voting will determine whether NEXO holders will receive interest on a daily basis or not. According to the statement made by Nexo, if the vote is accepted, interest rates of up to 12% per year will be offered to token holders.

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Mark Brennan
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.


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