If Russia invades Ukraine, not only cryptocurrencies but also the global economy will suffer. As investors watch for geopolitical turmoil, Somanews is taking a close look at 6 altcoin projects that crypto expert Josh Enomoto recommends watching.
6 altcoin projects to watch
ETH. Generally among the more stable cryptos, Ethereum has been quite active lately. Just a few days ago, ETH was trading below the key psychological threshold of $3,000. Naturally, the second-largest digital asset by market capitalization fell when an armed conflict appeared to be imminent in Ukraine. For now, however, with tensions cooling, Ethereum traders took the opportunity to push the coin above the $3,100 level.
BNB. According to the team behind BNB, the cryptocurrency and its ecosystem have expanded beyond Binance and its core business of providing a global exchange for crypto. In addition, blockchain will become a multi-chain network, thus facilitating large-scale applications including GameFi, SocialFi, and the metaverse. In the context of the Ukraine crisis, BNB’s shift to a more utilitarian web could make it vulnerable to the downside.
XRP. In the five days since the early hours of February 16, XRP has increased by about 10%. Much of this momentum is due to growing confidence among bulls that the Securities and Exchange Commission lawsuit will actually support Ripple.
ISLAND. At the end of summer last year, Bloomberg announced that ADA is the third largest virtual currency by market capitalization. If he’s not careful, it could probably drop to #8. The problem seems to be that Cardano isn’t attracting emotions like it used to.