Top Altcoin Picks to Buy This Week, as the US Department of Justice Received Authorization to Sell $6.5B Worth of Bitcoin Seized from the Silk Road Case

The US Department of Justice received authorization to sell $6.5 billion worth of $BTC seized from the infamous Silk Road case

The US Department of Justice recently obtained authorization to sell 69,000 bitcoins seized from the Silk Road marketplace, a trove valued at approximately $6.5 billion. This decision has sparked widespread debate about its potential impact on the crypto market and the government’s broader approach to digital assets, especially following President-elect Donald Trump’s proposal to use the seized $BTC for a US Bitcoin Strategic Reserve.

While the bitcoins remain unmoved from their wallets and no sales have occurred yet, the green light managed to raise speculation about what this means in the long run. Analysts suggest the sale may avoid triggering significant price volatility if conducted via OTC channels.

Meanwhile, Bitcoin’s technicals indicate a bullish trajectory, with 12 consecutive 1-hour green candles and a V-shaped recovery targeting $97,000, reinforcing market confidence amid this development.

Another interesting take on the macroeconomic outlook came from an X channel @GlobalFlows, during its podcast that covered major economic data on growth and inflation.

The channel noted that the Nonfarm Payrolls (an economic indicator of employment in the US released every month) number is expected to come in at 165k, which is marginally lower than the previous month. GlobalFlows also provided its readers and listeners with a model that explains the relationship between interest rates and Nonfarm Payrolls.

Top Altcoin Picks Amidst the DOJ Bitcoin Sale

While Bitcoin’s outlook remains bullish, the current state of the market is marked by slight uneasiness, making investors look towards promising altcoins that aim to outperform $BTC. Let’s check our list of the top 5 most promising candidates.

1. Wall Street Pepe ($WEPE)

Despite only launching a few months ago, Wall Street Pepe has already cemented itself as a meme coin presale space household name. Its appeal lies not only in its playful branding but also in its innovative use case: a place where meme coin traders can access alpha and trading calls, insider groups, and trading competitions, all with the goal of beating whale market manipulation.

Impressively, Wall Street Pepe has already crossed the $45 million mark in funds raised during its presale, underscoring its massive investor appeal. The presale has been structured to reward early adopters, with prices increasing incrementally at each stage. This tiered pricing encourages investors to act quickly to secure the best rates before the next round begins.

On top of that, Wall Street Pepe offers its holders the ability to stake $WEPE and earn a staking APY of up to 28%.

Visit Wall Street Pepe

2. Solaxy ($SOLX)

Solaxy is another promising project with meme coin roots – however, this one is aiming to create the first-ever Layer 2 platform for the Solana blockchain. Its goal is to eliminate network congestion issues that Solana has experienced in the past.

The project is often compared to Pepe Unchained, another meme coin that aims to create a Layer 2 network – however, they are not compared as competition but to showcase Solaxy’s potential. Pepe Unchained has recently gone live after an incredibly successful presale round, where it raised over $73 million. If this represents how the community views new Layer 2 projects, Solaxy has a bright future ahead.

Solaxy has managed to raise $9.6 million so far, quickly approaching the $10 million milestone. Like with Wall Street Pepe, investors have the opportunity to stake their $SOLX tokens and earn a dynamic staking APY of 365%.

Visit Solaxy

3. Flockerz ($FLOCK)

Another promising project worth mentioning is Flockerz. With less than two weeks remaining before its presale ends, the project has already raised nearly $10 million, showcasing its strong investor appeal and growing community support.

What sets Flockerz apart is its innovative use case, which revolves around its Flocktopia DAO and Vote-to-Earn mechanism. This system introduces a fresh approach to DAO participant incentivization by rewarding users for actively engaging in governance and decision-making processes.

With the presale being so close to ending, investors have two things to look forward to: discounted prices for $FLOCK and a short waiting time before they can see returns post its exchange listing. With its strong utility, compelling vision, and nearly $10 million raised, Flockerz is shaping up to be one of the most promising projects in the current market.

Visit Flockerz

4. Best Wallet Token ($BEST)

We can’t talk about promising projects with a strong utility without mentioning Best Wallet Token and its presale. $BEST is a new addition to the Best Wallet ecosystem that includes a decentralized crypto wallet, crypto onramper, a DEX, and more.

$BEST token holders will enjoy benefits such as access to early and exclusive presales, reduced transaction fees, the ability to participate in decision-making through Best Wallet’s DAO, and more.

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