3 cryptocurrencies to avoid trading next week- #Dyor
1. Avoid trading with $BUSD due to February uncertainties-
In February 2023, the New York Department of Financial Services ordered Paxos to stop issuing the stablecoin BUSD. This decision came amid a lawsuit against the cryptocurrency exchange Binance, the token’s issuer in partnership with Paxos.
2. Avoid trading Injective ( $INJ ) this weekend-
This weekend, the Injective team will receive over $125 million of INJ from its vesting period unlock. The total amount that will be released surpasses $135 million worth of tokens and could cause massive sell-offs next week. Finbold warned about this event on January 16, according to data from TokenUnlocks.app.
3. Kaspa ( $KAS ) supply inflation
Meanwhile, Kaspa is a relatively new cryptocurrency that recently gained the spotlight with an impressive price performance. KAS went from $0.000170 in May 2022 to $0.155 at its all-time high in November 2023. This movement rewarded early investors with over 20,500% gains in 1.5 years, now retracing 35% at $0.10.
