Top 3 Cryptocurrencies to Avoid Trading Next Week

Top 3 Cryptocurrencies to Avoid Trading Next Week

The cryptocurrency market is highly affected by news, technical developments, and economic factors, which can occasionally bring uncertainties to projects. In particular, Finbold identified three of the most popular cryptocurrencies to avoid trading next week, considering atypical risks.

Solana (SOL)

Solana (SOL) is facing continued congestion issues with a high rate of failed transactions, impacting its network stability. Despite being the 5th most valuable cryptocurrency, SOL traders may not have factored in the network's poor conditions, leading to uncertainty in its future price action.

XRP

Avoid trading XRP due to unusual activity from Ripple, including delays in the company's sell-offs. Historical data suggests that past sell-offs have resulted in significant drops in XRP's price, potentially signaling an upcoming price swing.

Uniswap (UNI)

Keep away from Uniswap (UNI) as the decentralized exchange faces regulatory pressure from the SEC. UNI's governance token has already experienced a 20% loss within four days due to these regulatory concerns.

Cryptocurrency traders must be cautious of network issues, economic activities, and regulatory news to navigate the volatile market effectively. External factors can amplify risks associated with specific assets, highlighting the importance of staying informed.