The cryptocurrency market has returned to November 2020 levels after the latest developments. Accordingly, the market lost a trillion dollars in value. The main reason for the decline is seen as investors diverting funds to less risky assets. The leading cryptocurrency Bitcoin saw below $20,000 in June. The altcoin markets, however, have seen similar results. Over the course of June, we witnessed the total market cap of Altcoins drop from $700 million to $450 million. However, some projects continue to give bullish signals with major developments.
4 altcoins to watch in July
In June, the market suffered many downsides, from the Celsius and 3AC collapse to the possibility of a second Terra case. FED has increased interest rates, global inflation is rising. In the midst of all this, the market experienced a great decline as mentioned above. However, we are entering a new month and some altcoin projects will experience great developments in July. cryptocoin.comWe have compiled for you the altcoins that should be on your radar in July.
Cardano (ADA)
The altcoin asset of the Cardano network, ADA, is at the top of our list. The network has proven to be what it promises so far. Accordingly, the platform, at the time of writing, was leading Blockchains in 24-hour transaction volume. In fact, Cardano has been trending for 4 months as it offers lower transaction fees than its competitors. However, the network will do an upgrade scheduled for June, but delayed to July. Input Output Hong Kong (IOHK), the firm behind Cardano, is releasing its long-awaited Vasil upgrade this month. According to Charles Hoskinson, the Vasil upgrade will give Cardano a “huge performance boost.” It will also bring features that will incorporate smart contract capabilities into the platform. ADA closed the month of June at $0.4588.
Ethereum (ETH)
In the cryptocurrency space, Ethereum remains the largest blockchain with its DeFi, smart contract and NFT features. The price of the Ethereum native token ETH dropped to as low as $896.11 in June. Accordingly, the leading altcoin is trading 81.36% below its ATH. However, the drop in Ethereum is not limited to ETH alone. According to Glassnode data, the number of users on the network is also in a downward trend. Additionally, as a result of the sale, the entire Ethereum ecosystem is experiencing a historic de-leverage event. However, it carries an opportunity to get rid of excessive leverage, allowing for restructuring. Ether closed the month of June at $ 1.067.
Amp (AMP)
Amp is defined as the new digital collateral altcoin asset that offers instant, verified assurances for any transfer of value. Networks get a wide variety of asset-related use cases using Amp. As a result, they secure transactions quickly and irreversibly. In addition, the project claims to offer a simple yet versatile interface through its system of collateral departments and collateral managers. AMP closed the month of June by trading at $ 0.01004.
Harmony (ONE)
Harmony is a Blockchain platform designed to facilitate the creation and use of decentralized applications (DApps). The network focuses on random state sharing, which allows for block generation in seconds. Thus, it aims to renew the way decentralized applications work. Harmony Blockchain’s native altcoin asset ONE has dropped over 60% in the last 30 days. The drop in price was the result of the $100 Million hack the platform suffered five days ago. Additionally, Harmony said they were aware of the move. He also announced that they are collaborating with Blockchain analysis firms and the FBI to catch the criminal. ONE closed the month of June at $ 0.01811.
