Investors Monitor These Cryptocurrencies for Potential Risks

Investors Monitor These Cryptocurrencies for Potential Risks

As the cryptocurrency market approaches the end of the week, many assets are experiencing a slowdown in price performance. This includes significant assets, such as Bitcoin (BTC). However, some cryptocurrencies, beyond a temporary decline, may lose their appeal as attractive investment options in the coming week due to additional factors.

• Pepe (PEPE): A speculative and volatile meme coin that has gained short-term profits through social media hype. However, it also experiences significant drops just as quickly. Recently, a whale transferred 400 billion tokens worth $4.22 million to the Binance exchange, which could increase selling pressure.
• Wormhole (W): A cross-chain interaction protocol that will release approximately 612.12 million tokens worth about $145 million in the coming days. This could increase selling pressure as investors may want to cash out, potentially impacting the price negatively.
• Immutable (IMX): The platform will soon release 32.47 million tokens worth $43 million. Additionally, the IMX marketplace is planned to be closed on August 13. This could cause short-term disruptions as users move their activities to other platforms.

Based on the information provided, it may be prudent to avoid trading these three cryptocurrencies next week or exercise caution when doing so. Various factors could negatively impact their price performance, so investors should proceed with care.