The million-subscribed analyst makes important statements for altcoins. Altcoinbuzz specifically points to August. It is looking at cryptocurrencies that will skyrocket accordingly. Here are those cryptocurrencies.
Icon (ICX) in Altcoins
Icon (ICX) is at the top of the August altcoins list. Icon is a decentralized platform that aims to build a digital economy where ICON Network hosts other blockchain-based networks. With ICON, companies, nonprofits and government agencies can independently develop their own value tools. It is in use by an entire networked ecosystem. The network’s cryptocurrency ICX supports the functioning of the ICON ecosystem. Starting July 31, ICON will begin the Incentive xCall Testnet Program, which it says aims to boot the xCall cross-chain ecosystem through adequate testing and product participation.
🗳️ Pre-registration for the #xCall Incentivized Testnet Program is now open!
Challenge categories range from cross-chain dApps to tooling and content, so there's something for everyone, including a $200K prize pool for best submissions!
Key links below 👇 $ETH $BNB $ICX https://t.co/CxkYvaHwo6 pic.twitter.com/DBGYhjzdGD
— ICON – Connecting Blockchains 🌐 🔀 (@helloiconworld) July 17, 2023
The xCall service is ICON’s messaging standard for cross-chain communication. Icon was developed to create a new type of digital economy where programs could depend on the ICON infrastructure and participate in the decentralized market established by ICON and its automated protocol. These applications, which will replace the participants in the economy, are important. Accordingly, they will be able to issue their own currency. In addition, nodes with access to computing power will choose which applications to support. Developers were invited to build and test the xCall service to receive rewards. So much network activity will undoubtedly affect the ICX token. It will also make it something to watch out for.
🔗 #ICX by @helloiconworld are making waves in the crypto world!
Explore the benefits of being part of the $ICX ecosystem and stay informed about their connected ecosystem.
👇 Check out our blog post to stay ahead in the gamehttps://t.co/SPBIqLZpz4
— ChangeNOW (@ChangeNOW_io) July 19, 2023
Litecoin in Altcoins
Litecoin among altcoins is one of the forerunners of crypto. However, due to the Litecoin halving scheduled for August 2, we may see a resurgence of interest in the LTC token in August. This will be the third halving since its existence. It happens every 840,000 blocks, or about every 4 years. Halvings are events that halve the amount of block rewards paid out to miners. The idea is to keep inflation in check. It is also to increase scarcity. This increases the value of the token over time.
🚀 Litecoin activity is leading the market right now.
📊An analysis…
1⃣ A major social engagement spike to 2.16M social engagements within one hour occurred. This measures the depth of activity around social posts. Things like retweets, comments, etc. are included here to… pic.twitter.com/GY6qCLVR9S
— LunarCrush (@LunarCrush) July 30, 2023
Block rewards, just like Bitcoin, are paid to Litecoin miners for each new block of transactions they help verify. Litecoin among altcoins offered 50 LTC rewards for each new block created in 2011. In August 2015, this reward was halved to 25 LTC. With the last halving in August 2019, it dropped to 12.5 LTC. Hence, next month’s halving will reduce the reward to 6.25 LTC per block. Halvings often create a lot of excitement for a project. We can see this also in Litecoin in August. Previous Litecoin halvings had led to price spikes after the event.
Did you know @litecoin has NFT's?
It turns out developers brought Ordinals to Litecoin! 👇https://t.co/T9uhcsScXI pic.twitter.com/0l4I4enp7b
— Beluga (@getbeluga) July 27, 2023
ATOM
Known as the Internet of Blockchain, Cosmos is among our top projects to look out for in August. It is currently trading at $8.98. Among altcoins, there is a possibility that ATOM will see a big spike next month due to the planned Gamma Release.
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
The V11-Gamma upgrade will allow consumer chains to combine the provider’s chain validator set with their own stake validator set. There is no official date for this yet. However, according to the roadmap, the upgrade is scheduled for the third quarter of 2023. So keep your eyes peeled for ATOM.
EGLD
Among altcoins, the eGold (EGLD) token powers the MultiverseX Network. EGLD plays a big role in the network. It also serves as a governance token used for staking, smart contracts, validator rewards, and transactions.
Last week in $EGLD 🌏
1/
🔭🌑 @xDay2023 first details: Palace of Parliament, October 19-21
⛓ #MultiversX mainnet turned 3
🎁 @xPortalApp Mystery Boxes now reward referrers too
🛠 Weekly #MultiversXtech pic.twitter.com/aJZY8RZktp— MultiversX (@MultiversX) July 31, 2023
Part of MultiverseX’s expansion plans is the XFabric update scheduled for this quarter. cryptocoin.com Looking at it as a whole, XFabric is the creative blockchain module for individuals and brands. xFabric will lead to more activity on MultiverseX. Companies will use it to create unique NFTs, in-game assets and digital art. xFabric will bring more projects to MultiverseX. Therefore, we may see a price increase soon.
