The volatility is fading away from Bitcoin, while some altcoins see this as an opportunity to grow. MicroStrategy purchased 1,955 BTC for about $217 million, as part of continued institutional accumulation. The company filed to be included in the S&P500, but the S&P committee kept the company out of the September rebalancing, while Robinhood and AppLovin secured inclusion.
Due to the lack of movement among the top cryptocurrencies, digital-asset investment products posted $352 million in net outflows last week. The price of Ethereum remained relatively neutral, reflecting the movements of Bitcoin. This caused ETH ETFs to have five consecutive days of ETF outflows.
There are very high odds of a rate cut at the Federal Reserve’s September 16–17 meeting. Major houses, including Standard Chartered, are predicting at least a 50-basis-point move, which is expected to ease financial conditions and reopen risk appetite for the crypto investors.
Top Cryptocurrencies to Watch This Week
Since the cut is nearing, a pre-bull wave could form across altcoins this week. WLFI and Somnia these three are the top cryptocurrencies to watch right now.
WLFI: World Liberty Finance
World Liberty Financial issues WLFI launched as a governance token on Ethereum. The token claims to grant holders voting rights. WLFI is backed by the Trump family as Donald J. Trump appears as “Co-Founder Emeritus,” Eric, Donald Jr., and Barron are listed as co-founders, and affiliated entities control sizeable allocations. WLFI added $5 billion in value to the Trump family’s net worth.
WLFI is facing some backlash as it confirmed that it blacklisted hundreds of wallets to address security concerns on launch week. The list included some high-profile holders, like Justin Sun, among those with frozen wallets.
WLFI coin is down over 54% from its all-time high of $0.46 and now trades around $0.21. After reaching a low of $0.16, the price is showing the signs of a pullback supported by volume candles.
The price of WLFI is recovering on a bullish trend line. Currently resting at support, the price is expected to gain 16% during this week and reach the previous local high of $0.245 before a retracement due to sell pressure at the peak.
SOMI: Somnia Network
Somnia is an EVM Layer 1 for real-time apps with over 1,000,000 TPS with sub-second finality, and it aims at gaming, social, and on-chain media at a consumer scale. Its native coin, SOMI, was listed on Binance and allocated 30,000,000 tokens to eligible BNB holders via its HODLer Airdrops program.
The protocol burns 50% of gas fees to reduce supply as usage grows. This deflationary model makes SOMI more valuable over time due to scarcity.
SOMI price is 430% up in the last 7 days. The huge bullish momentum has pushed the price from $0.38 to nearly $2 within 48 hours. On Binance Perpetual, the funding fee has been growing huge due to short positions on this coin. However, Somnia has liquidated huge positions and continued its upside journey only to rest at $1.60. The price action has created a big fair value gap at $1.28 area. This area must be revisited before the price can continue the bullish momentum. In case of such correction, the SOMI price is expected to gain around 50% from this level.
Solana
Meme coins love Solana, and with the introduction of platforms like Hyperliquid, it has become an attraction point. Solana also continues to attract institutional capital, with CoinShares reporting its 21st straight week of inflows, totaling about $1.16 billion. The on-chain data shows that over 3.79 million SOL, worth around $770 million, were withdrawn from the centralized exchanges to Web3 wallets for long-term holding.
The price of Solana has been moving below $200 while the other coins like BNB, Bitcoin, and Ethereum have recorded their all-time highs. There were rumors of price manipulation, but nothing came as solid proof.
Solana is finally recovering and maintaining its price above the $200 price mark. The price action shows a clear breakout from a symmetric triangle. If this momentum continues, the price of Solana could turn the resistance of $220 into a local support level and then benefit from the post-rate-cut bullish rally.
Keep an eye on other events like stablecoin net issuance, rising USDT or USDC supply, and real demand beyond exchange around WLFI, SOMI, and Solana coin. Do your own research before investing.
