Eye on Crypto: Top 3 Coins to Watch This Week

• Cryptocurrency Market Experiences Mild Correction Mid-December 2023
• Three Cryptocurrency Projects to Monitor This Week
• Avalanche (AVAX)
• Solana (SOL)
• Ripple (XRP)

Cryptocurrency Market Experiences Mild Correction Mid-December 2023

The global cap of the cryptocurrency market dipped by 3.2% in the last day, putting it at $1.66 trillion. Bitcoin$42,260 -0.64% (BTC) and Ethereum$2,315 -2.42% (ETH) experienced a collective liquidation exceeding $335 million. Nevertheless, BTC manages to hold above the $42k mark, while ETH stands firm over $2.2k. This recent market volatility possibly results from the upcoming announcement of US Consumer Price Index (CPI) data for November 2023.

Three Cryptocurrency Projects to Monitor This Week

Given the current market movements, the following three projects are worthy of attention:

Avalanche (AVAX)

Whilst significant cryptocurrency projects are facing market correction, AVAX has seen an 11.8% surge within the same period. The token has also risen by 64% from the previous week. As of January 2023, AVAX has climbed by over 220%, trumping Bitcoin's 154% growth during the identical period.

Solana (SOL)

Solana$104 5.03% (SOL) ranks among the best-performing cryptocurrencies in 2023. SOL has risen by more than 600% since the beginning of the year, outpacing BTC and other significant projects. Despite a 4.4% correction in the daily charts, SOL remains 7.8% higher than the previous week and 27.9% higher than the previous month. SOL may experience further corrections this week due to its substantial rally over the recent months.

Ripple (XRP)

Ripple (XRP$0.620 -1.68%) remains one of the most popular cryptocurrency tokens. Fintech company Ripple uses this token for remittance and cross-border transactions. Recently, Ripple scored a partial victory in its legal battle with the Securities and Exchange Commission (SEC), resulting in XRP being legally classified as "non-security", boosting its popularity. However, the token has suffered a 6.2% correction in the last day and is down 3.9% from the previous month.

Edited by Jonathan Stoker