The cryptocurrency market is currently facing downward pressure, particularly with Bitcoin struggling to maintain its position above the $60,000 mark. Despite this, two cryptocurrencies have been identified by Finbold as worthy of observation in the upcoming week due to their underlying fundamentals.

Ethena (ENA)

Ethena (ENA) is a synthetic dollar protocol that has seen significant attention in the cryptocurrency market. The focus for the coming week is on ENA as it is expected to unlock 53.60 ENA tokens valued at around $46 million, representing 3.76% of the circulating supply. It will be interesting to observe ENA's behavior post-token unlock, especially considering concerns about similarities to troubled projects like Terra.

A recent report from CryptoQuant has also raised concerns about ENA's keep rate in bear markets needing to stay above 32% to mitigate risks. The volatility anticipated for ENA follows its recent gains after the launch of the USDe stablecoin, attracting investors seeking high returns.

As of now, ENA is trading at $0.81, with daily losses of over 4% and a nearly 17% decrease over the past week.

Tron (TRX)

Tron (TRX) is experiencing modest gains in the short term and showing positive growth on the Tron blockchain in the first quarter of 2024, such as the circulation of USD Tether (USDT) on Tron surpassing $50 billion. Tron's performance in Q1 was strong, but its sustainability amid broader market sentiments remains uncertain.

As of now, TRX is trading at $0.1199 with daily gains of about 1.5% and nearly 10% on the weekly chart.

Given the current market conditions, while the fundamentals of these cryptocurrencies are noteworthy, broader market sentiments may have an impact on their performance.