KAVA Reduces Inflation to 0
The KAVA team has announced that starting from January 1, the KAVA token will have zero inflation after the release of KAVA Mainnet 15. This will result in a fixed supply of 1 billion tokens, with staking rewards being sourced from the Kava Strategic Vault. The price of KAVA has been on the rise since breaking out from a descending resistance trend line in October, reaching a high of $0.95 this week. The weekly Relative Strength Index (RSI) supports the breakout, indicating bullish momentum. If KAVA closes above $1, it could increase by 60% to the next resistance at $1.50.
Avalanche Launches New Wallet
Avalanche is launching a new wallet called Core Wallet, which will replace the current Avalanche Wallet on January 23. This transition aims to simplify portfolio and staking operations without affecting active delegators and validators. The price of AVAX has experienced a significant surge since October, breaking free from a long-term descending resistance trend line and reaching a high of $49.95 on December 24. While there is a possibility of a bearish engulfing candlestick forming, if the upward movement continues, AVAX could increase by 70% to the next resistance at $68.
Axie Infinity (AXS) Introduces Parts Evolution
Axie Infinity has announced an upgrade for Axie Origins called “Parts Evolution Utility,” which will go live on January 3. This upgrade will turn Axies into dynamic NFTs that can be improved over time. The price of AXS has been increasing since October when it broke out from a descending resistance trend line. However, it was recently rejected by the $9.50 resistance area, creating a bearish signal. If AXS closes above $9.50, it could increase by another 100% and reach the next resistance at $19.
Stellar Announces Mainnet Upgrade
Stellar network validators have agreed to vote on the Mainnet upgrade to Protocol 20 on January 30. This upgrade will implement 12 new Core Advancement Proposals and enable Soroban capabilities, adding a platform for executing smart contracts to the Stellar Network. The price of XLM has been on the rise since October, breaking out from a descending resistance trend line. While there have been unsuccessful breakout attempts, an eventual breakout could trigger a 20% increase to the next resistance at $0.16.
NEAR Concludes January Altcoins to Watch
The NEAR Protocol team has issued an update on NEAR Block Explorers, with the original Explorer set to be turned off on January 31. This allows users and developers to choose their preferred community-built explorers. NEAR broke out from a descending resistance trend line in October, reaching a new yearly high of $4.62 this week. If the breakout continues, NEAR could increase by another 50% and reach the next resistance at $6.
Hot Take: Altcoins With Exciting Developments in January
KAVA, Near Protocol (NEAR), Avalanche (AVAX), Axie Infinity (AXS), and Stellar (XLM) are all altcoins that have interesting developments lined up in January, which could positively affect their price. These altcoins have shown bullish momentum in recent months and have the potential for further growth if key resistances are broken. However, it is important to note that cryptocurrency markets are highly volatile, and prices can fluctuate rapidly. Always do your own research and consider the risks before investing in any cryptocurrency.
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