The cryptocurrency market has exhibited a tepid performance in recent days, notwithstanding the U.S. Federal Reserve’s rate cut. This change was anticipated to invigorate risk assets, yet trading remains subdued, leaving markets unchanged as the new week commences.
Despite this, certain crypto stocks may still shine with potential gains this week, bolstered by ecosystem advancements. Here are three stocks to monitor:
VivoPower International PLC (VVPR)
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VivoPower International shares wrapped up Friday’s trading at $4.83, a decrease of 4.45% for the day. Despite this drop, VVPR could see gains this week owing to notable developments in VivoPower’s cryptocurrency-centric strategy.
On September 18, the company revealed a partnership with Confirmo, a premier global stablecoin payment platform. This collaboration will empower VivoPower to process employee payments through stablecoins, laying the groundwork for broader treasury and B2B payment technologies.
If this initiative sparks interest among investors and demand surges this week, VVPR’s stock may rebound beyond $5.62.
On the flip side, if selling pressure escalates, shares might slide below $4.73, indicating a potentially volatile week for VVPR.
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HIVE Digital Technologies Ltd. (HIVE)
HIVE also experienced a decline on Friday, closing at $3.79 after a 1.3% drop. Nonetheless, the stock may witness some upswing this week as BUZZ High Performance Computing (BUZZ HPC), a wholly owned subsidiary of HIVE Digital, confirms its expansion in high-performance computing.
On September 18, HIVE Digital disclosed BUZZ HPC’s acquisition of a 7.2-megawatt data centre site situated in the Greater Toronto Area (GTA). This facility will serve as the base for a Tier III+ data centre tailored for AI workloads, offering colocation services to enterprises, institutions, and governmental bodies.
This development positions HIVE Digital among the leaders in AI cloud services and high-performance computing, making it a stock to keep an eye on as market sentiment shifts this week.
HIVE could strengthen above $3.92 if buying activity ramps up as the week unfolds.
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Conversely, shares could drop below $3.36 if selling pressure heightens.
Coinbase (COIN)
COIN declined by 0.20% to close Friday at $342.46. Although the stock finished the week slightly lower, traders should remain attentive to COIN this week, as the company’s CEO recently outlined ambitious initiatives that could elevate its value.
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In an interview on Fox Business two days ago, CEO Brian Armstrong articulated his vision for a “financial super app” to replace traditional banking services through cryptocurrency technology.
Armstrong noted that Coinbase aims to become the primary financial account for users, providing all services typically offered by banks and fintech companies, but delivered via crypto infrastructure for quicker and more cost-effective transactions.
Anticipation surrounding these forthcoming developments could boost COIN’s value. If demand rises, its price may strengthen toward $361.
Conversely, the shares could see their value dip below $329.26 if a broader selloff occurs.
