Crypto tokens have been staging a significant comeback following the recent crash of the global banking sector. As investors look for more reliable alternatives, cryptocurrencies could be the answer. The financial world was shocked when the high-profile failures of Silvergate Bank and Silicon Valley Bank occurred.
The traditional banking sector is still trying to come to terms with the long-term impact of these setbacks, while the crypto market appears to have already weathered the storm. After a slight price dip over two days, Bitcoin, Ethereum, and other cryptocurrencies are now experiencing a quick resurgence in value.
But which three digital currencies are expected to be the primary beneficiaries of this upward trend in the coming weeks? Analysts and experts suggest that Litecoin, Ethereum, and Monero (XMR)are likely to be the three cryptocurrencies that experience substantial gains. The sudden rise in the price has been due to increased investor confidence from both retail and institutional investors alike.
Ethereum (ETH)
The cryptocurrency Ethereum (or ETH) has seen a surge in popularity in the last few weeks. Despite its token Ether having experienced losses during the same period. Ethereum has outperformed the likes of Bitcoin and other altcoins, indicating that investors are gaining confidence in its potential.
This optimism is set to further increase with the upcoming Shanghai update. The update is set to be an essential step toward completing Ethereum 2.0 and improving its scalability. Consequently, many analysts are predicting that Ethereum’s price could experience significant gains over the next few weeks.
Litecoin (LTC)
Litecoin (LTC) has been one of the cryptocurrency market’s biggest underperformers in recent weeks. The coin has been losing more value than any of its competitors when the market crashed. This can be attributed to Litecoin’s meteoric rise in recent months, where it has outperformed many other cryptos. With that being said, this downturn presents an opportunity for savvy investors to purchase Litecoin at a much more favorable price. Comparing to what it had achieved recently.
Monero (XMR)
As governments around the world face the unprecedented challenges of the current crisis, many are being forced to consider stricter measures. This could mean a further expansion of these efforts in the coming months. In this atmosphere, an anonymous currency such as Monero (XMR) may become increasingly attractive to investors.
Monero is widely celebrated as the first completely anonymous cryptocurrency Above all it is seen as a viable alternative to Bitcoin, which can also be used anonymously but does not provide the same level of privacy.
With its XMR token, Monero provides a significantly more secure and private means for users. This enables bringing up a more reliable digital payment without needing to disclose personal information. As such, it is likely that demand for this token will continue to increase in the near future, resulting in price appreciation.
