This week in crypto, several altcoins may be primed for significant moves, catalyzed by ecosystem-specific developments.
The packed schedule could significantly influence investor sentiment and project momentum across the altcoin sector as each event may affect protocol growth and token performance.
On November 3, the network announced Chainlink Rewards Season 1, slated for November 11, with nine Build projects expected to feature.
A separate blog highlighted the initiative as an enabler for Chainlink Build projects to make their native tokens claimable by Chainlink ecosystem participants, including eligible LINK stakers.
It builds atop the success of Chainlink Rewards Season Genesis, where Space and Time made 100M SXT tokens available to eligible LINK stakers. Based on this, Season 1 will introduce a more advanced engagement and claiming mechanism.
“Chainlink Stakers will be eligible for token rewards from up to nine Chainlink Build projects over the course of the next month through the Chainlink Rewards program,” one user highlighted.
Among the projects are Dolomite (DOLO), Space and Time (SXT), XSwap, Brickken (BKN), Folks Finance (FOLKS), and Mind Network (FHE), among others like SUKU, TRUF, and BCUT.
Ahead of this development tomorrow, Chainlink’s LINK token was trading for $16.26, up by over 6% in the last 24 hours.
Injective’s INJ token may also be primed to move this week, with the Altria Upgrade due on Tuesday, November 11. Notably, this upgrade, one of the network’s largest to date, follows the passage of Proposal (IIP-583).
“INJ stakers overwhelmingly voted in favor to launch the most performant EVM layer yet, with real-time transaction speeds and instant finality. The new era of Injective is upon us,” Injective shared on social media recently.
Injective Altaris went live on mainnet on August 1, 2024, with the mission to revolutionize the layer one sector.
It also aimed to redefine Injective with a host of new capabilities, from enhanced scalability to novel methods for asset tokenization.
Ahead of Injective’s Altria Upgrade, INJ price is up by almost 12% and was trading for $8.04 as of this writing.
ADA community members are also invited to watch the Cardano Summit, which will take place in Berlin on Wednesday, November 12. The Cardano Foundation first announced the event in June, indicating that the two-day event would feature over 75 speakers to explore the future of enterprise blockchain.
Significant revelations or announcements in this event could influence the ADA price, with traders already buying into the antipation.
In the run-up to Wednesday, ADA was up by almost 6% in 24 hours, trading for $0.5884 as of this writing.
Also on November 11, the LDO price could see some volatility around the Lido Finance token holder update. Details have not been revealed, but these updates usually discuss governance changes, protocol adjustments, or strategic plans for the liquid staking platform.
Lido remains a dominant presence in liquid staking, especially for Ethereum. Any adjustments to governance or tokenomics could impact the broader DeFi space, given Lido’s substantial total value locked.
The Ripple price could also move this week, drawing tailwinds from a prospective launch of Canary Capital XRP ETF on Thursday, November 13. Pending Nasdaq approval, Canary Capital updated its S-1 filing for the spot XRP ETF by removing the “delaying amendment.”
This amendment allows the SEC to control the timing of effectiveness by preventing a registration statement from becoming automatically effective.
Without it, the filing will automatically take effect after a 20-day waiting period under Section 8(a) of the Securities Act of 1933, unless the SEC issues further comments or takes other action.
