Major events scheduled for August lay the ideal groundwork for several altcoins. In this article, we’ve compiled what you need to know about the ATOM, INJ, and SCRT that will undergo major upgrades.
Watch out for these 3 altcoin projects in August: Mega rally expected
In a new listing, altcoinbuzz analysis highlighted developments around ATOM, INJ, and SCRT that could price out key events scheduled for August. First, Cosmos has a big event in September and Q4. This development is the market launch of the cross-chain security protocol Gama. Gaia v11.0.x. will create a layered security. You can compare this to what the L2 altcoin projects on Ethereum are doing.
1/ Channel Upgradability is coming – Fostering a robust and sustainable #interchain
Chains will have the ability to upgrade their existing #IBC channels to unlock innovative features, such as the fee middleware, that brings on-chain fee incentivization for relayer operators. pic.twitter.com/mZqINDnboT
— Cosmos – Internet of Blockchains ⚛️ (@cosmos) July 21, 2023
Unlike Ethereum, Cosmos is an innovation-driven Blockchain. The leading altcoin is more like a value-driven Blockchain. Also, Cosmos is starting to change direction right now. This new strategy marks a value-driven chain. In other words, Cosmos can now embed many user-intensive dApps. For example, like DYDX. They launched the testnet phase on Cosmos in early July. This provides indirect growth to Cosmos and its ecosystem.
The @IRITAchain is setting new performance records in China by leveraging the Interchain Stack ⚛️
A demonstration of the power of the novel interchain consensus engine: @cometbft
The #interchain is at the center of innovation – unlocking unparalleled performance capabilities. pic.twitter.com/GRhEENx1ZB
— Cosmos – Internet of Blockchains ⚛️ (@cosmos) July 26, 2023
Injective (INJ)
Injective began climbing the rankings in 2022. This altcoin project is an L1 that is part of IBC. It is quite fast compared to its competitors and does not charge any gas fee. However, it offers cross-chain trading and yield generation. Injective has a DAO with a large community. The DAO votes for any innovation. Interoperability is an important feature for them. For example, they can work with Ethereum, Solana, and Polygon.
Had a few questions as to how the @Injective_ auction works, so here we go:
1) 40% of trading fees on all trades executed on the Injective exchange dApps go to the dApp owners,
2) Remaining 60% goes to the auction basket,
3) Each week, auction bidders bid for the collection of… pic.twitter.com/MO0wvhpgBs
— KAYO 🥷 (@xHBKAYO) August 2, 2023
First, Injective developers keep building new protocols. For example, many upgrades are coming in Q4. These are Orbital Chains. For example:
- Carcosa upgrade
- Mesh Chain Network
- Multi VN Chains
- flywheel upgrade
Second, the new INJ token production ends in Q4. This is another important reason altcoin investors are bullish on INJ. You can also add token burning mechanism to this. Injective burns 60% of all collected charges.
INJECTIVE MONTHLY RECAP | JULY 2023
.@Injective_ had a very active July with a lot of outstanding activities around the ecosystem
✅Featured projects: @MitoFinance, @HelixApp_ & @astroport_fi
✅Integration: @EspressoSys, @Galxe, @leap_cosmos, @TrustWallet, @kado_money & #Warp pic.twitter.com/EthjSkCpZl
— Cosmos Allday ⚛️ (@Cosmos_allday) August 1, 2023
The project has a buyback and token burn mechanism. He later auctions off the INJs he buys back. As a result, Injective had the highest burn rate in crypto in 2022. As a result, Injective is among the projects that need attention in the coming month. The ATH of the INJ price is at $24.89. Altcoin analysts expect it to break above it during the next bull run.
Secret Network (SCRT)
Secret Network is one of the other important IBC projects. Currently, Secret is running the Surge campaign. This is also a great DeFi incentive campaign.
Announcing Secret Ethereum!
This new initiative supports the #Ethereum community in its mission to protect confidential data from the transparency of most blockchains, setting the stage for a new era of privacy and protection.
Dive in! 👇(1/2)https://t.co/KtQ57UgYPT pic.twitter.com/7zAIvkQGM5
— 𝕊ecret Network 🤫⚡️ (@SecretNetwork) August 2, 2023
Secret, on the other hand, suffers from massive inflation. As a result, the altcoin price is under some pressure. However, this also means that something is wrong. Of all the other L1s based on privacy, Secret is the least valued. One of the curious features of Secret is Unstoppable Wallet. This wallet will most likely be released in Q3. Some of its important features are as follows:
- These contracts are not seed words! Instead, they are based on smart contract.
- They can interoperate with other Blockchains.
- You can set conditions on assets. You can have features such as token locking or scheduling to send.
Another interesting aspect is the current Arkham discussion. They are currently driving to remove anonymity. As a result, anyone who prefers secure privacy can look into Secret Network. This is a feature that attracts the attention of altcoin whales and institutions.
Our work, announced earlier this week, on Unstoppable Wallets is out! We construct a protocol for threshold ECDSA that is efficient enough to run on-chain in 1 tx per party and low gas fees.
We implement it and show how to build two sample apps on @SecretNetwork: cross chain… https://t.co/X1KyhYCIly
— Guy Zyskind @ EthCC (@GuyZys) June 6, 2023
cryptocoin.comIn this article, we have included other altcoin projects that are preparing to price important events in August, such as the ones above.
