Arbitrum (ARB), Ondo Finance (ONDO), and Zetachain (ZETA) Are the Top Cryptocurrencies to Watch This Week

Cryptocurrency prices declined last week as global investors shifted towards a risk-averse sentiment amid rising American bond yields.

Bitcoin remained below the $95,000 level, while meme coins such as Dogwifhat (WIF), Popcat (POPCAT), and Bonk (BONK) experienced significant losses.

The rise in bond yields followed strong nonfarm payroll numbers released by the labor statistics, increasing the possibility of the Federal Reserve maintaining a hawkish tone throughout the year. The economy added over 260,000 jobs in December, while the jobless rate fell to 4.1%.

Meanwhile, Arbitrum (ARB), Ondo Finance (ONDO), and Zetachain (ZETA) are the top cryptocurrencies to keep an eye on during the upcoming week.

Arbitrum, the second-largest layer-2 network, will be a crucial cryptocurrency to watch as the network unlocks tokens valued at $67 million, or 1.08% of the float. Arbitrum has already unlocked 53% of its total tokens, with the final release scheduled for April 2027.

However, Arbitrum's token has been in a downtrend over the past 12 months, currently down by 70% from its highest level in 2024. This decline comes as the network lost market share to Base Blockchain.

After slipping below the 50-day and 25-day Exponential Moving Averages, Arbitrum's token is hovering slightly above a key support at $0.70, which it has failed to breach since December. A slip below that level could indicate further downside, potentially towards $0.4625, its lowest level in November.

Ondo Finance will also be closely watched as the network is set to unlock tokens worth $2.38 billion, or 133% of the float, on Thursday. With a circulating supply of 1.38 billion and a maximum supply of 10 billion, the network's token unlocks will continue until 2029.

Ondo could benefit the most from rising bond yields as investors shift towards money market funds. Its USDY and OUSG stablecoins offer yields of 4.35% and 3.28%, respectively. However, it remains to be seen whether ONDO's performance will positively correlate with its growth.

On the daily chart, the token has declined from a high of $2.13 in December to $1.23. It has also slipped below the 50-day and 25-day moving averages and a key support at $1.4800, which was its highest swing in June last year.

On the brighter side, ONDO has formed a falling wedge pattern, with the two lines of the wedge approaching their confluence levels. This pattern could indicate further gains, potentially up to $1.4800.

Finally, Zetachain, a cryptocurrency with a market cap of $337 million, will also be in the spotlight as it unlocks tokens valued at $145 million, or 49% of the market cap.

The token has been in a strong downtrend after peaking at $1.3752 in June last year. This decline comes as the total value locked in its DeFi TVL dropped from $16 million in November to $7 million currently.

ZETA has remained below all moving averages and is currently resting on a key support at $0.5328, which was also its lowest swing since October last year. The coin has also remained below the 50-day moving average. Therefore, a slip below that support could indicate further downside, potentially towards $0.3530, which was its lowest point in 2024.