The bankruptcies of Silvergate and Silicon Valley Bank created shock waves in the financial world. However, the cryptocurrency market is quickly getting over the effects of the crisis. In this article, we have compiled the forecasts for AGIX and 4 altcoins selected by crypto analysts, which can take action with the news of the upcoming upgrade.
AGIX and these 4 altcoins could rise with upcoming news
Synthetix (SNX)
Synthetix is a decentralized liquidity layer based on Ethereum and Optimism. In exchange for providing liquidity that acts as a security for a range of synthetic assets, stakers receive rewards and market returns. The project first started with Havven, a protocol similar to MakerDAO. It is currently trading in the top 61st place by market capitalization.
Havven has been rebranded as Synthetix to serve as a spot synthesis trading protocol. It then moved from being a user-facing derivatives protocol to focusing on the provision and growth of derivatives and liquidity.
What is Synthetix V3, and why is it important?
V3 will completely overhaul Synthetix to become a liquidity layer that powers the next generation of on-chain derivatives and financial products.
Learn about Synthetix V3 through a 🧵 & blog post 👇https://t.co/OvNKrfMf7d
1/28 pic.twitter.com/PcDHHH3pc1
— Synthetix ⚔️ (@synthetix_io) March 10, 2023
Synthetix V3, the main catalyst behind the SNX rally
It is very important to emphasize that smart contracts are not discarded during iteration. It was developed and built to develop new architecture. Synthetix has been adding to its previous design for five years, which requires rebuilding for the project to be successful. The new Synthetix V3 is a rework of the protocol from the ground up. It accomplishes what Synthetix set out to achieve years ago: a permissionless derivatives liquidity platform that will fuel the next generation of on-chain financial products.
With version 3, Synthetix will become a liquidity layer on which derivatives markets can be built. This version will improve the adoption of SNX by facilitating the development of assets and increasing the liquidity of financial derivatives. With all these developments, it should be noted that the SNX price is currently rallying over 40%.
SingularityNET (AGIX)
SingularityNET is a decentralized artificial intelligence (AI) marketplace where AI developers can build, share and pay for their AI models. The AGIX token enables AI developers to manufacture and sell AI models to customers around the world. This concept integrates seamlessly with other decentralized applications and services due to the use of various networks.
AGIX can be transferred between Blockchains, including Ethereum and Cardano. This enables consumers, developers, and AI agents to transact securely and transparently. AGIX price is also rallying over 20% on March 13.
Ethereum (ETH)
Ethereum seems to be gaining traction in recent weeks. The upcoming Shanghai update will complete an important piece of the puzzle for Ethereum 2.0 and increase scalability. As a result, Ethereum could be one of the projects that see significant gains in the coming weeks.
Ethereum’s potential growth is linked to decentralized applications (dApps) and smart contracts. This is also supported by the DeFi and NFT ecosystem. The increasing adoption of Ethereum-based dApps and the release of Ethereum 2.0, a major upgrade to the network, could drive significant growth in the years to come.
https://twitter.com/Ledger/status/16331754544445359104
Litecoin (LTC)
Unlike Ethereum, Litecoin (LTC) has struggled in recent weeks. This was because it had swelled more than competitors in recent months. Therefore, the recent drop provides an opportunity to buy LTC at an affordable price.
Litecoin is a fork of Bitcoin that offers faster transaction times and lower fees. It has a strong following among crypto enthusiasts and is integrated into various payment systems, making it an attractive option for merchants. Additionally, Litecoin has a higher supply limit than Bitcoin. This makes it more accessible to investors who do not have the funds to invest in a full Bitcoin.
Monero (XMR)
Crises force states to take extra drastic measures. This reach may expand in the coming months. In these times of crisis, privacy cryptocurrencies like Monero could become popular.
Monero is widely considered to be the first completely privacy cryptocurrency. While Bitcoin can also be used anonymously, XMR provides completely untraceable transactions.
#Monerokon2023 is a 3-day conference in #privacy and financial technology. Are you interested in speaking or hosting a workshop this summer in Prague? We are looking for proposals, send abstract to: https://t.co/YlisuWGZkn @monero $xmr pic.twitter.com/aa0SRRqDqo
— Monero Konferenco (@MoneroKon) March 12, 2023
Monero is a privacy-focused cryptocurrency that prioritizes anonymity and untraceability. It uses advanced cryptographic techniques to hide the source and destination of transactions, making it difficult for third parties to track or identify users. This feature has made Monero popular with those who prioritize privacy and security. Again, cryptocoin.comAs we have reported, this is the feature that put XMR on the regulators’ radar.
