The post 5 New Cryptocurrencies to Watch This Week as Major Altcoins Struggle appeared first on bitcoin Coinpedia Fintech News
The crypto market has had a tough time lately, with Bitcoin (BTC) and Ethereum (ETH) down significantly from their early January highs.
Most major altcoins have also posted sizable losses as investors take profits following their rallies in the final months of 2023.
However, this article presents five fresh crypto projects promising to defy the bearish momentum and post gains in the week ahead.
1. Bitcoin Minetrix (BTCMTX)
Kicking off our list is Bitcoin Minetrix (BTCMTX), a brand-new crypto-mining platform hosted on Ethereum.
Bitcoin Minetrix has raised an incredible $9 million in its presale so far, mainly due to its innovative Stake-to-Mine setup.
This setup allows BTCMTX holders to stake their tokens and earn cloud mining credits – which can be burned to access cloud mining power.
Naturally, this approach eliminates the need for everyday investors to purchase advanced mining equipment to participate in Bitcoin mining.
Over 18,000 people now follow Bitcoin Minetrix’s Twitter account, evidencing the growing interest in Stake-to-Mine.
With exchange listings for BTCMTX now on the horizon, this new cryptocurrency could be one for investors to watch closely.
Those interested in the presale can buy BTCMTX tokens for $0.013 using ETH, USDT, or a credit/debit card.
2. Sponge V2 (SPONGEV2)
Sponge V2 (SPONGEV2) is an upcoming meme coin that looks to expand on the success of the original Sponge (SPONGE) token.
The original token posted colossal gains in May 2023, and SPONGEV2 seeks to mirror (or beat) those gains by adding some much-needed utility.
This utility comes in the form of integration into a new P2E racing game and a built-in staking protocol – two clear reasons for investors to buy and hold SPONGEV2 over the long term.
Currently, the only way to access SPONGEV2 before its open market debut is through the ecosystem’s Stake-to-Bridge mechanism.
This mechanism allows holders of the original SPONGE to lock up their tokens permanently and earn SPONGEV2 at a rate of 287% per year.
With DEX listings expected in the coming weeks, SPONGEV2 is a new cryptocurrency that could be primed for growth if all goes to plan.
Interested investors can buy and stake SPONGE to acquire SPONGEV2 through the widget at sponge.vip.
3. Meme Kombat (MK)
Alongside SPONGEV2, another new meme coin that’s turning heads is Meme Kombat (MK).
This new meme coin looks to shake up the crypto gaming space with its custom-made battle arena, where internet characters duke it out in hilarious fights.
MK holders can bet on these fights using their tokens for the chance to win sizable payouts.
Not only that, but holders can also stake their MK to earn high yields, creating two potential streams of tokenized income.
Over $7.3 million has been raised through Meme Kombat’s presale ahead of its Uniswap launch in the coming weeks.
More than 12,000 people are now in the project’s Telegram channel preparing for this launch – making it one of the most highly-anticipated events in the meme coin space.
Early investors can buy MK tokens for $0.279 during the final stage of the presale before the token is publicly listed.
4. Pyth Network (PYTH)
Another new crypto-making waves is Pyth Network (PYTH), a decentralized oracle network providing high-quality, real-time market data to dApps on various blockchains.
Pyth sources its data directly from major exchanges and market makers rather than crowdsourcing – resulting in more accurate price feeds.
The network also provides confidence intervals indicating the potential true market price range, which is highly beneficial in times of volatility.
With over $2 billion in total value locked (TVL) from DeFi protocols using its data feeds, Pyth is seeing rapid adoption.
As such, its reliable and fast data capabilities could make the native PYTH token a cryptocurrency poised for further growth this week.
5. Ondo (ONDO)
Rounding off our list is Ondo (ONDO), a protocol that tokenizes real-world assets like bonds on the blockchain.
Ondo’s main offerings are OUSG, a tokenized US Treasury ETF, and USDY, a Treasury-backed stablecoin targeting stability and yield.
The protocol is gaining traction for bridging TradeFi and DeFi, allowing new opportunities for investors in both spaces.
With a focus on transparency and security through custodian partnerships, Ondo has enormous growth potential in the world of DeFi.
Moreover, with the native ONDO token valued at just $0.26, many believe there’s room to grow for this new cryptocurrency going forward.