As we enter into the second quarter of the year 2023, the crypto market has experienced a re-introduction of volatility, with prices discovering new yearly highs. These highs have remained even after the occasional consolidations in Q1. With the brand-new market year rising, let us look into the top 5 cryptos to pay attention to this week.

The first crypto to keep an eye on is MATIC. This is the native token of the Polygon blockchain, a protocol built to revolutionize scaling and infrastructure on Ethereum. When the bull-market of Q1 kicked off, MATIC’s price increased by 108%, reaching a yearly peak of $1.5678. However, the token has since seen a slight retreat, currently trading at $1.1088. But, MATIC stands strong in its bullish sentiment due to the upcoming upgrades planned for later this month.

Another cryptocurrency to take note of is Ethereum (ETH). The largest altcoin by market capitalization, Ethereum is transitioning from the PoW consensus algorithm, to the much more convenient PoS. This transition, coined the “Shanghai upgrade,” will allow stakers to withdraw their stakes without worries. As such, the preparation and anticipation of this upgrade has caused an influx of buying of ETH, which reached a yearly high of $1400.

Solana (SOL) is another currency worth following. It is heavily invested in the DeFi market due to its incredible transaction speeds and gained a notable hike during the beginning of 2023, jumping 174% up to $27.12. Since then, the coin has seen a few periods of consolidation, and is currently trading at $20.42, accompanying its bullish sentiment which is expected to carry into the new quarter.

In addition, Binance Coin’s (BNB) native token of the Binance Smart Chain is a must watch for the week. This is the fourth largest crypto according to CoinMarketCap, with a market capitalization of over $90 billion. In the beginning of 2023, BNB gained 42%, reaching a high of $347. At present, BNB has settled at $312 and looks to be emerging from the bear market. Therefore, new year looks to bring a major rally in the crypto’s value.

The last crypto to observe this week is Cosmos (ATOM). This is the first public PoS blockchain that is built on top of Tendermint. It is the 22nd largest cryptocurrency based on CoinMarketCap numbers, and likewise was a huge beneficiary of the early 2023 bull market. ATOM jumped 66% during this period, and has maintained a price of $11.129 at the time of writing. As the week pushes on, ATOM could experience a noteworthy rally in its value.

The crypto market has been full of unpredictable activity in the past quart, and the trend looks to continue into the second quarter. Investors and traders should definitely keep an eye on the 5 cryptocurrencies mention above, as potential areas to reap huge rewards await.



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