Crypto Watchlist: Top 3 Altcoins To Monitor This Week

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As a seasoned crypto investor with a keen interest in the altcoin market, I closely follow developments that could impact the price and adoption of various digital assets. This week, Ethereum (ETH), XRP, and Cosmos have caught my attention due to their potential for significant news or upgrades.

In the crypto sphere this week, there are several noteworthy advancements that could have a substantial impact on the value and popularity of certain altcoins. Let’s delve into the top three altcoins worth keeping an eye on: Ethereum, XRP, and Cosmos. Each of these coins is on the verge of major announcements that could potentially reshape the market.

#1 Ethereum: Crypto’s Next Spot ETF?

The crypto world is on tenterhooks for the green light on the first US Ethereum Exchange Traded Funds (ETFs) in the Ethereum community, an event potentially sparking a surge in institutional investment. According to Nate Geraci, podcast host of ETF Prime and co-founder of the ETF Institute, this approval could be announced as early as this week.

“Geraci predicted this week could be the time for SEC approval of the ETH ETF. He’s confident, but without specific details, and can’t think of a reason for any more delays at present. The issuers are prepared to launch. Geraci suggested that the SEC might handle the ETH ETF applications in a manner similar to 19b-4s, meaning they could be very secretive about their decision.”

As a crypto investor, I can relate to Eric Balchunas’ perspective. The current situation regarding Ethereum ETFs feels like a holding pattern. The Securities and Exchange Commission (SEC) has yet to make a decision, leaving us in limbo. All the necessary documents are ready, and issuers are eagerly waiting for approval. It’s reminiscent of a rain delay in baseball – an unwelcome pause that we must endure. Hopefully, things will pick up next week, but until then, we can only be patient and stay tuned for updates.

As a crypto investor, I’m closely watching the SEC’s decision-making process regarding the S-1 registrations for Ethereum ETFs. Following the initial approval on May 23, 2024, the market is eagerly anticipating the final go-ahead on these forms. This crucial step could substantially influence Ethereum’s liquidity and overall market presence.

#2 XRP Lawsuit: Settlement Talks?

Approximately one year and a few days have passed since Judge Analisa Torres rendered her summary judgment in the case between Ripple Labs and the SEC. There’s been talk circulating on X that Ripple Labs may be approaching the conclusion of this lengthy legal dispute. An anticipated private meeting with the SEC is rumored to take place on July 18, 2024, as previously reported.

As a crypto investor, I’ve been keeping a close eye on the developments between Ripple and the Securities and Exchange Commission (SEC). Exciting news emerged from Bitrue’s ambassador Brett Hill, who shared on Twitter about an upcoming private executive meeting at their headquarters in Washington from July 18-24. Insider sources suggest that this gathering could be connected to the resolution of the ongoing Ripple vs SEC court case and the finalization of the legal proceedings. #XRP

Significantly, the SEC’s formal declaration provides details about the upcoming gathering, yet it fails to mention the Ripple case explicitly.

#3 Cosmos: V18 Upgrade

The cosmic network is set for a major improvement with the v18 update, focusing on enhancing governance and transaction processing speed. This enhancement is planned for launch on July 17th and will introduce a permissioned CosmWasm. With this change, smart contracts can now be deployed following community approval.

With a focus on governance, this update aligns with Cosmos’s goal to enhance network security and exert greater control over which contracts are permitted. This helps reduce risks linked to open deployments.

The Gaia v18 update introduces the Dynamic Fee Module, a novel mechanism that automatically adjusts transaction fees based on network traffic. Similar to Ethereum’s EIP-1559, this feature aims to improve fee structures and thereby boost network efficiency during busy periods. Additionally, it offers users a more consistent fee experience by minimizing unexpected fee increases.

As a crypto investor in Cosmos, I find the implementation of expedited governance proposals particularly significant. This feature enables the community to address pressing network concerns more swiftly, thereby improving Cosmos’s adaptability when making important governance and strategic decisions.

At press time, ETH traded at $3,341.

Crypto Watchlist: Top 3 Altcoins To Monitor This Week

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2024-07-16 01:12