3 cryptos to avoid next week

Although the majority of assets in the cryptocurrency sector have started to record gains triggered by the news that the United States Securities and Exchange Commission (SEC) has withdrawn its case against the executives of blockchain company Ripple, some cryptos have not yet felt its effect.

Indeed, Finbold has conducted research into the crypto market’s performance in recent days, considering price activity, developments, and risk, to discover several digital assets that might be prudent to avoid trading for the time being, or at least in the next week.

WEMIX (WEMIX)

As it happens, the cryptocurrency of a network aiming to be an “experience-based, platform-driven & service-oriented decentralized blockchain protocol” powering a “mega-ecosystem” of Web 3.0 platforms, WEMIX (WEMIX) for now lacks developments to spark investor interest, which is why it might be a good idea to avoid it next week.

At press time, WEMIX was trading at the price of $0.83818, down 3.31% on the day, and declining 14.43% across the past week, despite recording an increase of 3.66% in the last month, according to the most recent information retrieved by Finbold on October 20.

Conflux (CFX)

Despite its team’s valuable promise to deliver a more scalable, decentralized, and secure public blockchain than existing protocols, the cryptocurrency of Conflux (CFX) is not a very attractive investment opportunity in the week to come, particularly due to a lack of updates on the network’s progress.

On top of that, it has declined 8.38% across the previous seven days and lost 17.70% on its monthly chart, despite gaining 1.53% in the last 24 hours thanks to the general optimism in the markets, and is currently changing hands at $0.11, as per latest data.

STP (STPT)

Finally, the native token of STP (STPT), the platform with a mission to build and scale an identity layer for Autonomous Worlds by providing the necessary infrastructure, tooling platforms, and data indexing, is yet to capture public attention with meaningful advances.

For now, its price stands at $0.0619, recording a decline of 5.18% on the day, at the moment when most other cryptos are advancing, adding up to the 5.78% drop on its weekly chart, although recording a 12.30% gain across the previous month, as the latest charts indicate.

Conclusion

All things considered, while next week might be a good time to avoid investing in the above crypto assets, the sentiment could change, which is why it is important to do one’s own due diligence and weigh the risks before investing a significant amount of money into any digital asset in the market.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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