Top 5 cryptocurrencies to watch this week: BTC, AVAX, MATIC, EGLD, MANA

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Bitcoin (BTC) is seeing an uphill struggle near the $ 58,000 mark, but that hasn’t stopped some altcoins from reaching a new all-time high. This shows that traders are watching fundamental developments on individual coins.

One of the recent top performing major altcoins was Avalanche (AVAX), which climbed over 120% in November. The coin caught the attention of traders ahead of the announcement from accounting firm Deloitte that plans to build its disaster relief platforms on the Avalanche blockchain.

Daily view of crypto market data. Source: Coin360

In another milestone that shows the growing adoption of crypto, the President of El Salvador, Nayib Bukele, announced the launch of the Bitcoin City, which will be powered by geothermal energy and initially funded by $ 1 billion in funding. ‘Bitcoin bonds.

Could large purchases at lower levels push Bitcoin above $ 60,000 and will altcoins participate in the rally? Let’s take a look at the charts of the top 5 cryptocurrencies that might grab the attention of short-term traders.