- Pepe Coin (PEPE) is experiencing price uncertainty due to a large transfer of tokens to various exchanges by the team behind it.
- The unlocking of Avalanche (AVAX) tokens has had an impact on its price.
- BNB Coin (BNB) is struggling with providing liquidity and future uncertainty.
Investors in the cryptocurrency market need to be aware of which digital currencies are worth their time and money. Understanding which cryptocurrencies to avoid is also an art that can prevent investors from losing money in this vast field. This article provides a brief list of cryptocurrencies that traders and investors should be cautious about in the coming week due to high uncertainty.
What’s Happening with Pepe (PEPE) Coin?
Investors in Pepe Coin were thrown into a panic when the team behind it transferred a significant amount of PEPE to several exchanges. This meme coin experienced a speculative surge in buying demand earlier this year, despite a lack of clear ‘user demand’. This move by the creators could pose a real threat to PEPE’s price in the coming days. The fear has already reflected in the meme token prices, with PEPE losing more than 17% of its value 24 hours after the team’s transaction.
Avalanche (AVAX) Price Impact
Avalanche unlocked a significant amount of AVAX tokens as part of a scheduled unlocking program. This unlocked amount equals 2.77% of this cryptocurrency’s circulating supply. AVAX experienced losses exceeding 8% a week before the unlocking of the tokens, as the market was already pricing in the potential impact of a significant sudden increase on the current supply.
The Future of BNB Coin (BNB)
Recently, more than $30 million in liquidity was provided in BNB due to a drop in the native token of BNB Chain. However, the threat of further liquidation continues to loom over Binance’s crypto asset. There is still a significant amount of BNB in the Venus Protocol’s vault, which could be lost to a hacker in 2022. BNB was trading at $216.68 on August 25, with the next support price set at $198, indicating that a 9% drop could trigger further losses.
Conclusion
Investors should always remember that cryptocurrencies carry a high level of volatility and risk. Therefore, they should conduct their transactions based on their own research. This article is not intended to provide investment advice. Follow us on Telegram, Instagram, Facebook, Twitter, and Youtube for more updates.
