Eye on the Prize: Top 3 Crypto Picks for the Weekend

• Cryptocurrency Market Observes Significant Correction
• Top Three Crypto Tokens to Monitor This Weekend
• Bitcoin (BTC)
• Arbitrum (ARB)
• Solana (SOL)

Cryptocurrency Market Observes Significant Correction

The cryptocurrency market has experienced a marked correction today. Bitcoin$42,260 -0.64% (BTC), the cryptocurrency with the largest market capitalization, has seen a decrease of 4.8% according to daily charts, currently hovering around the $43k mark. Additionally, the global crypto market cap has declined by 4.5% in the last 24 hours to reach $1.73 trillion. This recent downturn may be attributed to news of the Securities and Exchange Commission (SEC) potentially turning down a BTC spot ETF (Exchange Traded Fund). As the frontrunner, Bitcoin's performance significantly influences the rest of the market.

Top Three Crypto Tokens to Monitor This Weekend

As the market fluctuates, here are three key cryptocurrencies to keep an eye on:

Bitcoin (BTC)

Being the market leader, Bitcoin invariably catches attention. Despite recent drops, it is expected to rally soon. There's a strong possibility that the US SEC will greenlight one or more spot BTC ETFs within this month. If this occurs, Bitcoin's price could skyrocket, potentially signaling a new bull run for the crypto market and setting a new record high for BTC.

Arbitrum (ARB)

In contrast to the broader market downturn, ARB recently reached a new all-time high of $2.04. Since then, the cryptocurrency has dropped 3.90%, yet it still showcases an increase of over 80% in the monthly charts. Furthermore, its total value locked (TVL) has surpassed the $2.5 billion threshold. Users have recognized increased rewards and reduced fees as part of the project's incentives plan. However, ARB could experience a correction in alignment with the overall market trend, despite its current upswing.

Solana (SOL)

Solana$104 5.03% (SOL) has been one of the top performers in the crypto space for 2023, with its price surging over 640% since January of this year. This bullish trend is anticipated to continue into 2024. The recent market correction has brought the price of SOL to around $100, which could present a buying opportunity for new or existing investors looking to increase their holdings.

Edited by Jonathan Stoker