Altcoins to watch this week
Crypto analyst The DeFi Investor shared a list of altcoins that investors should closely monitor at the start of the new week.
According to the analyst, upcoming events may act as significant catalysts for price volatility in several crypto projects.
EtherFi (ETHFI)
On March 11, an important event will take place for EtherFi (ETHFI). During a meeting with analysts, the team is expected to present an updated roadmap, outlining future ecosystem development plans.
Mantle (MNT)
Another project highlighted by the analyst is Mantle (MNT). The team is reportedly preparing a major announcement, along with the introduction of Bybit’s Alpha platform.
Polkadot (DOT)
Special attention is also drawn to Polkadot’s tokenomics update, scheduled for March 12.
Following the update, the DOT issuance rate could decrease by approximately 53.6%, potentially impacting supply dynamics.
THORChain (RUNE)
THORChain (RUNE) is planning a major integration with the Polygon network.
This integration will allow the protocol to support native cross-chain swaps, expanding its functionality in the cross-chain liquidity sector.
GMX (GMX)
The decentralized derivatives trading platform GMX is also on the list.
The platform has confirmed the launch of a cross-margin trading mode, allowing traders to manage multiple positions through a single collateral pool.
Magic Eden (NFT)
In the NFT sector, Magic Eden announced significant changes.
The platform plans to shut down its Ethereum and Bitcoin NFT marketplaces by March 9, which may affect the structure of the NFT market.
Other projects
The list also includes:
- HOME — the token of the upcoming DeFi App, a universal DeFi platform preparing for launch
- VIRTUAL (Virtuals Protocol) — a developing product enabling permissionless agent-based trading
Macro factor
The analyst also reminded investors that macroeconomic data can influence the crypto market just as much as project developments.
In this context, U.S. inflation data (CPI) scheduled for March 11 could become an important factor affecting both the crypto market and other risk assets in the coming week.
See also: "Ethereum co-founder Jeffrey Wilcke transferred a massive amount of ETH to exchanges"
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