Top crypto to watch today: Kaspa, NEWT, Sonic, and Chainlink

Crypto prices remained on edge on Wednesday after CNN and the New York Times (NYT) reported that Donald Trump’s bombs in Iran did not achieve much, raising concerns of further escalation in the region.

Brent and West Texas Intermediate (WTI) rose by over 1% to $67 and $65, while futures tied to the Dow Jones and S&P 500 indices were little changed. Bitcoin remained above $106,000, while Ethereum price was below $2,500. 

This article explains why Kaspa, Newton Protocol (NEWT), Sonic (S), and Chainlink (LINK) are the top crypto tokens to watch today. 

Newton Protocol (NEWT) token in focus after airdrop

Newton Protocol, a crypto project started by the founder of Kitematic, a company acquired by Docker Desktop, will be in the spotlight today after its airdrop. Its goal is to be a platform where users can discover, select, and delegate onchain actions to agents through an automation marketplace. 

NEWT token will be in focus as traders observe the recent airdrop and its performance. It was one of the most popular airdrops as it got listed on top exchanges like Coinbase, Upbit. Binance, Bybit, and Bitget. 

NEWT price has crashed from $0.52 initially to $0.4663 today, while its market capitalization has dropped to below $100 million. This crash may continue as some of the recipients dump their tokens. 

Kaspa token loses momentum

Kaspa is another top crypto token to watch today as its recovery faded. The daily chart shows that the KASP price bottomed at $0.06055 this week as the crypto market crashed. 

It then bounced back and reached a high of $0.077, where the recovery has stalled. Kaspa price remains below the 50-day and 100-day Exponential Moving Averages (EMA). The two averages have made a bearish crossover, a sign that bears are in control. 

Kaspa price has remained below the descending trendline that connects the highest swings since December 8. Therefore, KAS price will likely have a bearish breakdown, with the initial target being at $0.06055. 

Chainlink stalls after Mastercard partnership

Meanwhile, Chainlink price was little changed even after the network launched a partnership with Mastercard, the second-biggest payment processor in the world. The partnership will enable its cardholders to purchase crypto directly through a secure fiat-to-crypto conversion. 

The partnership also includes some top companies like Shift4 Payments and Swapper Finance. In a statement, Sergey Nazarov, Chainlink’s founder, said:

“This is the type of traditional finance and decentralized finance convergence that Chainlink was built to make possible. I’m excited about Chainlink’s ability to enable this critical connection between the traditional payments world and the over three billion cardholders in the Mastercard user base.”

LINK price reacted mildly to the news, and was trading at $13.5, a few points below the 50-day and 100-day moving averages. This is a sign that it has more downside, potentially to the support at $10.86. 

Sonic price on edge after Coinbase listing

Sonic token has remained on edge in the past few days, even after it was listed on Coinbase, the biggest exchange in the US. Most cryptocurrencies often pop when they are listed by popular exchanges like Coinbase and Binance.

Sonic price likely dropped because its ecosystem growth has started to deteriorate. Its total value locked (TVL) in the decentralized finance (DeFi) industry has plunged by over 27% in the last 30 days to $1.17 billion. There are also signs that the developer activity has dropped lately. 

Some of the other top crypto tokens to watch today are Maple Finance (SYRUP), Centrifuge (CFG), Pi Network (PI), and Useless Coin. 

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