5 Altcoins to Watch this Week (27.03.2023 – 02.04.2023)

Bitcoin (BTC) continues to maintain its ground and is currently trading at $27,800 as the market hasn’t shown any serious signs of extreme volatility, despite the fears of an upcoming credit crunch.

As we are entering the last week of March, let’s take a look at 5 altcoins you should pay attention to in the following days.

Decentraland

Decentraland was established in 2015 by Ari Meilich and Esteban Ordano. In 2017 this new virtual realm had its official launch. The platform operates on Ethereum, and its native token, MANA (an ERC-20 token), facilitates the purchase of LAND.

Users can acquire plots of LAND, monetize avatars and LAND parcels, as well as pay for virtual goods and services within the platform. The acquisition of LAND is achieved by exchanging MANA, which destroys the token and creates a new entry in the registry.

Additionally, Decentraland’s governance structure is based on a DAO, where token holders can participate in policy-making decisions concerning the metaverse.

And here is the good news for the project – Metaverse Fashion Week (MVFW) is returning for its second edition on 28-31 March. The fashion event takes place entirely in the virtual world of Decentraland, offering a range of fashion experiences.

After the first successful run, the team behind MVFW has taken the learnings and feedback from the inaugural edition to improve the event’s quality and help brands make the most out of this virtual platform.

MANA is currently trading at $0.58 after a 10% decline in the past week with a total market cap of $1.08 billion.

Looking at TradingView data, you can see that the summarised technical indicators and moving averages are signaling for “sell” at 10 and 9, respectively. The oscillators point to “neutral” at 9.

Stratis

Stratis is a BaaS platform designed to provide solutions to organizations, mainly those in the financial sector, who want to benefit from digital technology. The Stratis team generates revenue by offering a BaaS model and consulting services, both requiring a recurring subscription fee. As a certified Microsoft partner, users can easily download a Stratis full node from the Microsoft Azure Marketplace.

This platform offers a fast development lifecycle for custom blockchain applications, allowing teams to create applications with the necessary features. Additionally, third-party organizations can create their private blockchains customized to their needs.

These private blockchains are interconnected with the main Stratis network, allowing clients to access them seamlessly.

On March 29 Stratis will be releasing its very own NFT ticketing platform, which is expected to revolutionize the ticket industry.

At the time of writing, Stratis’s native token, STRAX, is trading at $0.54 after a 2.5% price drop in the past 7 days. The current market cap of the project is just over $80.5 million.

The technical analysis for the altcoin is bearish, with the summarized 1-day TA pointing at “sell” with 11 signals and moving averages with 9. Oscillators stand at “neutral” with 7 signals.

Avalanche

Avalanche is an open-source, decentralized platform that aims to solve the blockchain trilemma by utilizing its unique Proof-of-Stake (PoS) mechanism.

The platform offers various tools and features that enable users to launch DeFi applications and create financial assets. It also provides enterprise-scale financial solutions and supports smart contracts like Ethereum.

Since Avalanche’s smart contracts are written in Solidity, the same language used by Ethereum, it allows for greater blockchain interoperability. The platform has integrated several DeFi ecosystems, including established projects like Aave and Curve.

Avalanche is the first smart contract platform to finalize transactions in under a second. It has the potential to process over 4,500 transactions per second, making it one of the fastest blockchains in the market.

On March 30, Avalanche’s Cortina upgrade will be activated on Fuji. The latest version of AvalancheGo will migrate the X-Chain to run Snowman++ consensus, making it compatible with Avalanche Warp Messaging and easier for exchanges to support the X-Chain.

AVAX is switching hands at $17.03 after a 4.3% drop in the past week and has a market cap of over $172 million.

The market santiment for AVAX is bullish as the summarized TA from TradingView, and the moving averages point toward “buy” respectively at 12 and 10. In contrast, the oscillators point at “neutral” with a score of 8.

Terra Classic

The Terra blockchain was originally launched in January 2018 and included the LUNA coin, which stabilizes the TerraUSD (UST) stablecoin. However, in May 2022, UST lost its peg to USD, causing the market to crash. A hard fork was proposed to revive the blockchain, resulting in two chains: Terra 2.0 and Terra Classic.

The new chain, Terra 2.0, retains the LUNA token, while the old chain was rebranded as Terra Classic, with its native coin now called Luna Classic (LUNC). Despite the rebranding, LUNC still functions as the stabilizing mechanism for TerraUSD.

Terra’s no-code solution for managing DAOs will be officially released and out of beta on March 30, after a comprehensive contract audit by @goFYEO.

LUNC is trading at $0.0001248 after an 8% decrease on the weekly chart. The current market cap of the project is over $90 million.

The 1-day TA shows a bearish sentiment, with the summarized technical indicators and moving averages pointing to “sell” and “strong sell” at 13 and 11, respectively. Oscillators show 8 signals for “neutral.”

Zilliqa

Zilliqa is a public blockchain that uses sharding to solve scalability and throughput problems that other cryptocurrencies like Bitcoin and Ethereum face. The network is divided into nodes that run processes in parallel to improve transaction speed and create a scalable and secure platform.

Zilliqa is claimed to be the first blockchain to rely completely on sharding to solve scalability problems, which it achieves successfully. According to the white paper, sharding helps the network achieve transaction speeds around a thousand times faster than the Ethereum network.

On March 13 Zilliqa will be launching its v1 of the high-performance cross-platform first-person shooter dubbed Web3War game (W3W)

ZIL is valued at 0.026 at the time of writing after an 8% price drop and has a market cap of almost $432 million.

The token’s TA seems bearish as the summarized indicators register 10 signals for “sell”, and moving averages score 9 for the same, while oscillators are “neutral” at 9.

Source