Cryptocurrencies To Watch: Week of October 17
The crypto market has had a fairly low-key October. While the price of Bitcoin dipped briefly below $19,000, it continues to hold around that support level. Some investors believe that the market has bottomed out and that the only way to move is up.
The reduced volatility has some investors thinking that now is the time to enter the market. We examine five cryptocurrencies that have shown price movements and activity over the past week: Huobi Token (HT), Arweave (AR), KuCoin Token (KCS), Hedera (HBAR), and Maker (MKR). In selecting these assets, we have considered several factors, including, but not limited to, positive technical developments, significant news events, and noticeable changes in price.
The Huobi Token and Huobi exchange have been at the heart of one of the most frequently discussed stories of the past week. The HT token rose by a massive 60% over the past seven days, likely because of the reports of TRON founder Justin Sun allegedly being involved in their acquisition.
While Sun has denied being involved in such an acquisition, he acknowledges he is working as an advisor to Huobi.This helped boost the HT token’s price considerably. The price of HT is now around $6.88, up from around $4.31 last week.
Arweave (AR) has jumped by 15% over the past week and is now sitting at around $10. The likely reason for this is the announcement in September of a $30 million funding round for Arweave’s native software development company, Community Labs.The funds will be used for supporting Arweave adoption, ecosystem growth, and protocol development.
Arweave is a project focused on establishing sustainable on-chain data storage. The project has also taken steps forward in terms of its development progress. This includes a
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