There is risk always involved when investing in cryptocurrencies but by doing your own research and understanding how utility and publicity works, one can unearth undervalued virtual assets that can bring handsome returns. Below we will look at two altcoins to watch out for this week.
With a hard fork scheduled for today at block number 1,564,965, exchanges have started supporting the Monero (XMV) and this is a positive sign for the adoption of the coin. The main question now remains what will happen to Monero (XMR)? Usually, before a fork, altcoins experience increase in price due to a combination of FOMO and anticipation of the free coins that are given to all coin holders.
It’s obvious that XMR will correct slightly after the fork as there is significant anticipation that is already built into its price. At the time of the fork, XMR holders will receive free XMV coins. Monero leads the privacy sector coins with a market cap of $3,970,984,411. It’s currently trading at $248. With this in mind, it’s easy to see why Monero is one of the altcoins to watch out for this week.
This week is set to be massive for SysCoin. There is a major technological upgrade with the launch of 3.0 version of the platform. Also, there is the integration of master nodes. Master nodes will allow users to stake and earn returns on their investment without needing to have to utilize many mining rigs.
SysCoin is currently trading at $0.55 with a market cap of $296,081,466. By delivering on its promise of an updated platform and also incorporating master nodes, expect this to be a positive week for SYS and this is bound to reflect on its price.
There are many other altcoins that have exciting things going on and we will try share with you whenever we come across the news but for now, by doing your own due diligence as an investor, you stand to reap big rewards.
What do you think of the two altcoins to watch out for this week? Which other altcoins should we keep our eyes on? Let us know in the comment section below.