3 Altcoins to Watch This Week: Sonic, THORChain, and Sky Network Prepare for Key Upgrades

The cryptocurrency market ended October on a weak note, but early November is bringing fresh activity across several altcoins. While Bitcoin remains range-bound, projects like Sonic, THORChain, and Sky Network are entering important upgrade cycles that could steer short-term sentiment among traders.

Sonic (S): Network Upgrade Adds Fee Subsidies, Security Fixes

The Sonic network is set to release version 2.1.2 of its mainnet and testnet — an update that will introduce native fee subsidies and key security improvements. These changes aim to enhance network performance and user reliability, potentially restoring investor confidence after a difficult month.

At press time, S trades near $0.1299, roughly 25% below recent highs but holding above the critical $0.128 support. The RSI indicates oversold conditions, often a sign of possible short-term stabilization.

If market sentiment improves following the upgrade, a rebound toward $0.159–$0.176 is plausible. However, sustained weakness below $0.128 could push Sonic lower, testing $0.112 or even $0.100, signaling that sellers remain dominant.

THORChain (RUNE): Version 3.12 Update Builds Trader Anticipation

Developers at THORChain are finalizing their V3.12 upgrade, though specific details remain undisclosed. The secrecy has fueled speculation among traders, many anticipating improvements to liquidity and performance.

RUNE’s price has slipped around 13% over the past week, currently trading close to $0.809. Technical indicators — including converging Bollinger Bands — point to an upcoming volatility spike.

A bullish reaction to the update could lift RUNE beyond $0.855, with room to challenge $0.951. Conversely, if the rollout disappoints or broader market pressure continues, the token could retest $0.765, deepening recent losses.

Sky Network (SKY): Buyback Vote Tests Market Confidence

Sky Network’s community has approved a new Executive Vote that increases daily buybacks to 300,000 USDS and allocates 500 million SKY to the treasury for staking incentives. The move is aimed at balancing supply, encouraging participation, and strengthening token demand.

After losing nearly 8% this week, SKY is testing support near $0.0545. A rebound from this level could send the token toward $0.0559 and $0.0575, erasing recent declines. But if sentiment stays muted, a slip below $0.0545 may drag the asset toward $0.0536, extending its downtrend.

Market View

Traders are watching whether real network progress can outweigh the caution that dominated October.

• Sonic’s 2.1.2 rollout will show if steady technical delivery can pull the token out of an oversold zone.

• THORChain’s V3.12 release, still short on public details, is a test of investor confidence in a project that relies on liquidity depth.

• Sky Network’s governance shift measures how far internal reforms can go in supporting price stability without a broader market tailwind.

Each of these updates carries direct implications for liquidity, staking yields, and user participation — factors that tend to move prices more than short-term hype. Whether those fundamentals translate into lasting momentum will depend less on optimism and more on execution in the days ahead.

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