The cryptocurrency market surpassed the 3-month series of red candles in July. August will mark the beginning of the trend for the continuation of this series. Meanwhile, most investors are looking for the ideal altcoins for the rest of the year. Analyst Joseph Abrams answers this question with 9 altcoins…
9 altcoins for Q2 from the expert list
Avalanche (AVAX)
Avalanche is one of the analysts’ recommendations for altcoin beginners. AVAX is a Blockchain with an emphasis on fast transactions and low costs. Many users choose to use AVAX as a sitting and passively growing currency.
Cardano (ADA)
Cardano (ADA) was founded in 2017 by Charles Hoskinson, one of the founding members of the Ethereum platform. It is one of the largest and most established PoS Blockchains in the market. At the same time, it has the distinction of being the “Ethereum killer”. Its mission is to create a connected, decentralized system for its users and those without access to proper banking services. ADA is trading around that $0.50 from the crypto winter. But it’s always been pretty affordable.
Dai (DAI)
Dai is an Ethereum-based stablecoin. Trying to keep the price close to $1, the MakerDao organization behind DAI pegs the token’s value into its collateral. MakerDao users vote on Ethereum-based assets to use as collateral for DAI.
Dai is much more stable than ETH, despite the underlying Ethereum. Users can be listened to more easily because transactions run on verifiable code, not mutual agreement between people as in Ethereum. MakerDao’s mission with dai is to offer investors and consumers a permanent alternative to other cryptocurrencies, and while DAI has an impressive run that stays extremely close to a dollar, it is susceptible to the same volatility as other altcoins.
Dogecoin (DOGE)
Dogecoin started in 2014 as a meme for fun on Bitcoin. But after being rounded up by subreddit r/WallStreetBets to boost crypto, and a shout-out from Elon Musk, it quickly rose to the top five cryptocurrencies by market cap. Dogecoin does its own mandery. However, it is subject to strong inflation as there is no limit to how many Dogecoins can be created.
Despite the recent drop in value, Musk continues to support Dogecoin. On June 21, he said on Twitter:
I personally intend to support Dogecoin because I know a lot of people who are not that rich and encourage me to buy and support Dogecoin, so I am responding to these people.
Ethereum (ETH)
Ethereum moves to PoS Blockchain in September. Still, it rallied around 50% in the middle of the strong crypto winter. On the other hand, it’s down 77% since last year, despite returning to $1,700. According to experts, Etehreum’s no longer mining will have an impact on its global acceptance.
Polkadot (DOT)
Polkadot was founded by Gavin Wood, one of the founding team of Ethereum. DOT is a PoS cryptocurrency focused on changing the way blockchains are used. After surviving the crypto winter better than other cryptocurrencies, Polkadot’s technology gives investors hope that it will remain a strong player. MATIC is currently trading at $0.8948. The most extreme target of analysts is that MATIC will be $ 10.
Shiba Inu (SHIB)
The Shiba Inu describes himself as the “Dogecoin killer”. The difference between them is that the price of SHIB is lower to Dogecoin. At this level, SHIB achieved gains in excess of 1000% in 2021. This made it one of the top 20 cryptocurrencies by market cap. Shiba is also gearing up for a number of DEX, metaverse and gaming projects.
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Despite the recent increases in the efficiency of the Solana platform, SOL coin offers an important alternative to the altcoin leader ether. It is miles ahead of ETH in transaction time: SOL can process thousands of transactions in a single second. This is due to Solana’s proven blockchain, where existing functions, called VDFs, predict transaction times and are verified post-event. This makes SOL transactions look more like a Venmo to your friend and less like a long bank transaction.
Also, Solana does not need the mining procedures that come with proof-of-work models. Therefore, it avoids the environmental damage caused by conventional mining. This opens the platform to bugs and platform issues, which has led to sharp drops in the price of the coin over the past few months. Investors are still holding out hope for this innovative coin.
