Over the last decade or so, we've seen digital assets and cryptocurrency, in general, become more mainstream in discussions. People in the world's biggest crisis zones are increasingly resorting to cryptocurrencies like bitcoin, which have soared in value and are backed by super-rich investors. Online searches for Bitcoin, Ethereum, and Dogecoin have increased in Libya, Syria, and Palestine, and other mainstream countries like India, Mexico, Brazil, etc. displacing the traditional focus on stock markets and safe-haven investments in gold and real estate.
Since the epidemic, word about the new breed of digital currencies has spread over the world, prompting consumers to turn to them as a source of credit when banks have proven unwilling to lend. And it is not just Bitcoin that should be credited for this. Digital currencies like Dogecoin, Cardano, Ethereum, XRP, have gained so much over the past few months, that they all can be called safe alternatives to Bitcoin. Altcoins have a major role to play in the global crypto market cap crossing $2 trillion.
It should come as no surprise that the demand for Altcoins will skyrocket in 2021. As more people turn to alternative forms of income, the cryptocurrency market has experienced unprecedented demand. Though Bitcoin has always attracted attention from all corners, other cryptocurrencies have the potential to become part of your investment portfolio. Apart from Bitcoin, all other cryptocurrencies are referred to as Altcoins. It makes perfect sense to look at the top 10 Altcoins to buy now that a lot of large players in the industry and other investors are expressing keen interest in Altcoins. Cryptoknowmics brings you the top 10 Altcoins to invest in July 2021.
So far, 2021 has produced a plethora of intriguing altcoins and cryptocurrencies that are swiftly recovering from this year's crypto meltdown. Cryptocurrencies continue to generate a lot of press due to their ups and downs. There has never been a better moment to invest in cryptocurrencies than now. Keep an eye on these ten Altcoins, since market analysts have high hopes for them. There are other cryptocurrencies beyond Bitcoin to diversify your portfolio, whether you are an experienced investor or a beginner investor making your first buy.
Cardano is one of the top five cryptocurrencies in terms of market capitalization. Its network is one of the most technologically advanced cryptocurrencies to date, with a market valuation of $45 billion. It operates more efficiently because it employs a proof-of-stake system rather than a proof-of-work method. Cardano is a low-cost cryptocurrency with a lot of potential because it uses smart contracts and is a more advanced version of several other cryptocurrencies. The token is currently trading at $1.43.
Apart from this, Cardano has been gaining a lot of praise from the crypto community. Cardano has set lofty aspirations for itself by 2026, including onboarding 50 banks and collaborating with ten Fortune 500 corporations. In addition, the goal for the next few years is to have over one billion consumers using the blockchain.
Frederik Gregaard, the Foundation's CEO, emphasized the necessity of large businesses recognizing the native digital asset and noted that onboarding 50 banks with ADA is one of the most important segments the firm would work on in the next year and a half. Apart from this Grayscale, the world's largest crypto asset management firm, is adding Cardano support to its investing services (ADA).
Cardano's next few months will be crucial as it takes the first steps toward smart contracts. Input-Output Hong Kong, one of the Cardano blockchain's founding organizations, has announced the deployment of a testnet for Cardano's Alonzo update. Alonzo is the next step in a series of Cardano blockchain updates that will include new features like smart contracts and the ability to construct a decentralized finance industry. This is why you need to keep an eye on this token.
This token holds a lot of potential this month. The price of the token is $323.52, with a global market of $4 billion. Crypto has a lot to penetrate the public sphere. This month, Aave is set to launch its institutional investor platform. The rollout will be done in collaboration with Fireblocks, a crypto custodian and service provider, as previously announced. Aave has received attention from various mainstream trading platforms. Compound's COMP and Decentraland MANA, and DeFi assets Aave and Yearn. Finance has been added to eToro, a leading multi-asset investment platform.
With the recent recovery that the crypto market is witnessing right now, AAVE has good hands to play in that. Aave and Compound, two prominent market players, have taken significant steps to attract institutional investors to the DeFi area. According to Santiment, an on-chain statistics source, a majority of DeFi coins have seen a significant increase in address activity.
Bitcoin, Ethereum, Aave, and USD Coin will be supported on the Aave Pro platform at first (USDC). Fireblocks will act as the crypto custodian for the platform, which will serve "institutions, FinTechs, and corporates." Over the last week, the price of AAVE has risen by more than 25%.
The token is trading at $1.15, with a global market cap of $7 billion. This token has gained significant attention in the past few months. By unveiling the Layer-2 solution – Polygon – Balancer Protocol, a well-known DeFi project, has entered the fight against exorbitant prices. Fernando Martinelli, CEO, and Co-Founder of Balancer Labs stated that the decision to employ Polygon was made after a thorough review of all available options. The project's progress in terms of acceptability from brands like Aave and SushiSwap, however, tipped the scales.
Apart from this, Polygon also intends to launch Avail, a full-stack Ethereum scaling solution. An all-purpose blockchain network focused on delivering scalable data to individual chains, sidechains, and other Layer-2 solutions. Polygon teamed up with Google in May to integrate its blockchain datasets into BigQuery, allowing the protocol to have precise on-chain information.
After that, the blockchain network is keeping up with the DeFi industry. Earlier this month, Polygon and 0x announced a $10 million commitment to attracting at least one million people to Polygon and Ethereum. Polygon intends to use the funds to assist projects and developers on its network in developing secure and comprehensive DeFi infrastructure.
The token stands at $16.67, with a global market of $15 billion. Polkadot, like Cardano, is a third-generation cryptocurrency that can be purchased. The Binance Exchange has established a $10 million fund to support Polkadot projects. Its price has risen by 41% in a week, and further increases are expected. It is now considered to be one of the best alternatives to Ethereum. Polkadot has quickly established itself as one of the most well-known cryptocurrencies, particularly since the year 2020. It's also seen as a promising blockchain that could overtake Ether's supremacy by 2021.
Moreover, with its latest fundraising, Parallel Finance has further fueled bullish thoughts on Polkadot. The company has raised $2 million to provide DOT and KSM holders with compound staking and zero-collateral, fixed-rate loans.
The year 2021 is the best time to buy Polkadot. Polkadot was hammered badly by market volatility in May 2021, falling to $17.71 from an all-time high of $48.68. It has been fluctuating and expanding consistently since June. Polkadot was priced at $20.17 on June 12th. It has, however, continued to grow since then. Polkadot is a great time to invest because it has been gradually increasing and is predicted to continue to develop. Polkadot rates are expected to rise toward the start of 2022, according to DigitalCoinPrice.
This token holds very bullish sentiments from the crypto market. The price is $2.03, with a global crypto market cap of $769 million. The attractive rewards offered to token holders who participate in staking, rivalry for CRV deposits on numerous decentralized finance (DeFi) platforms, and good profitability for the Curve protocol as a whole are three reasons why analysts are paying attention to Curve DAO Token (CRV).
The favorable yield on CRV, when staking the token on the Curve platform as well as other DeFi protocols, is the source of analysts' bullish outlook.
Users that stake their tokens directly on Curve Finance receive an average annual percentage yield (APY) of 21% and vote-escrowed CRV (veCRV) in exchange, allowing them to vote in governance votes on the protocol. Users who employ vote-locking CRV can earn up to 2.5 times more on the liquidity they give on Curve.
Now is the time to invest in the token. Curve Finance has established itself as one of the DeFi market's mainstays, owing to its capacity to provide stablecoin liquidity across the ecosystem while also providing token holders with a less risky means to generate income.
Demand for CRV and the governance power that comes with it has surged among DeFi systems that have integrated Curve's stablecoin liquidity as a result of its growing importance.
The token is trading at $0.40, with a market cap of $408 million. This is one crypto that has gained popularity due to its popularity associated with Bitcoin. Ren (REN) is an open protocol that aims to bring interoperability and liquidity to various blockchain platforms. Ren, formerly known as Republic Protocol, launched RenVM, its virtual machine mainnet, in May 2020 after raising $34 million in an initial coin offering (ICO) in 2018.
Ren has opened a direct route to Solana. It enables users to transfer tokenized Bitcoin and some other assets to the Layer 1 blockchain. Ren will increase activity on Solana by providing a bridge for assets to be added to the network. It functions by enabling users to create tokenized versions of the assets they bring onto the bridge. It aims to obtain cross-chain interoperability, especially effective in achieving a way to use Bitcoin in DeFi on Ethereum.
BTC, BCH, ZEC, and DOGE will be supported by the Solana x RenVM bridge at first. DGB, LUNA, and FIL will be included later. Each asset's Ren-based version will subsequently be available for use on Solana.
Grayscale Investments is considering adding 31 crypto assets to its investment portfolio. And REN is one of them. With $32.9 billion in crypto assets under management, the organization now provides 13 cryptocurrencies for investing. Therefore, institutions have also started to put their trust in the token. Keep a close look at this token as this month will be crucial for the token with all the upcoming projects.
Of course, one cannot make it through this list without mentioning the largest Altcoin. Ether is currently trading at $2381, with a global market cap of $277 billion. From a utility standpoint, it is a more technologically sophisticated form of Bitcoin, with faster transactions and reduced prices. Ethereum immediately stabilizes whenever the cryptocurrency market falls, as investors have complete faith in this crypto asset.
The crypto has several things lined up for itself that will help to win all the attention. Starting with the mainnet date for the London hard fork upgrading is expected to be discussed during this week's meeting of core contributors, according to Anthony Sassano, the founder of Ethereum(ETH) information aggregator EthHub. He also predicted that the upgrade would go live on August 4th.
Institutional analysts are also bullish on the token. According to a new JPMorgan research, Ethereum 2.0 will be able to publicize the PoS consensus method and make staking payouts more remarkable. Next year, Ethereum will be able to complete its transition from proof of work (PoW) to proof of stake (PoS), and JPMorgan analysts predict the payment to be doubled.
Mike Novogratz, the CEO of Galaxy Digital, recently told Bloomberg that Ethereum has the potential to one day exceed Bitcoin during an interview on June 30. When it comes to the Ethereum blockchain, Novogratz says the second-largest cryptocurrency has a different use case than Bitcoin. According to a recent poll of FinTech professionals done by the well-known Australian news outlet Finder, the price of Ethereum ($ETH) is expected to hit $20K on average by 2025.
Samantha Yap, Founder and CEO of YAP Global, predicts a $10,000 price for ETH by the end of 2021, claiming that after BTC has gained widespread acceptance, ETH will be next in people's thoughts.
The token is trading at $9.07, with a market cap of $1 billion. SUSHI is an example of an automated market maker (AMM). AMMs are decentralized exchanges that employ smart contracts to create markets for any given pair of tokens, and they're becoming increasingly popular among cryptocurrency consumers.
SushiSwap has announced that it will join the DeFi ecosystem on the Avalanche blockchain. Users can now make core swaps in the same way they can on Ethereum with SushiSwap, but with lower costs and faster transactions. Ava Labs developers hope that bringing the world's largest DEX by total value locked on Ethereum will help Avalanche expand its DeFi products and compete with Ethereum.
SushiSwap has partnered with Beefy Finance to provide more efficient services at the Polygon. SushiSwap will install Polygon and make it available to its users as a result of their collaboration with Beefy Finance. Polygon is part of an ever-expanding ecosystem that sees the development of Ethereum applications daily. SushiSwap hopes that by partnering with Polygon, it would be able to attract more customers who want to work directly with Ethereum Blockchain. The speed and low cost of transactions at Polygon are two of the main reasons for the relationship. Therefore, look out for this token this month.
The token is trading at $22.81, with a global crypto market cap of $13 billion. Moreover, Uniswap is a well-known decentralized trading system that helps automate the trading of decentralized finance (DeFi) tokens.
Uniswap, the decentralized technology capable of challenging big centralized exchanges like Binance and Coinbase, has teamed with the Dota 2 Team to penetrate the public sphere. Further, Uniswap Labs has teamed with Team Secret, a professional Dota 2 team, according to a statement issued on June 1.
Uniswap can be called one of the best DeFi tokens. While bitcoin values are falling, DeFi innovation is exploding, with a slew of insurance-like ventures and even DeFi-specific blockchain analytics on the way.
Fetch.ai, a Cambridge, United Kingdom-based artificial intelligence lab with a love for crypto, has introduced a tool to mitigate the risk of losses in the experimental decentralized finance (DeFi) field.
The DeFi Agents toolbox, which was announced Tuesday, may be configured to automatically withdraw users' cash from Uniswap v2 and PancakeSwap according to predetermined criteria, such as the exchange rate for a certain token falling below a certain level. It is projects like these that add up to the success of the token.
The coin is trading at $13.03, with a market cap of $2 trillion. Cosmos has been created to address a critical problem in the blockchain network. Cosmos, unlike other altcoins, wants to link all blockchain networks together to form an "internet of blockchains." However, Cosmos might see a deluge of investors if it achieves its target, causing its price to rise.
Cross-Chain DeFi is now possible because of Cosmos' Inter-Blockchain Communication (IBC). As previously said, it will facilitate the movement of crypto assets between separate blockchains. Umee has secured a $6.3 million seed round led by Polychain Capital and featuring Coinbase Ventures, IDEO CoLab, Alameda Research, ConsenSys, and others, according to a press release released Tuesday.
The money comes as DeFi expands outside its original home of Ethereum, with investors looking for blockchain interoperability. As the network moves closer to widespread acceptance, it has several products in the works, including the creation of interchain accounts, which would allow users to secure their digital assets.
The crypto space is recovering from a major correction. And as the prices of the tokens are rising again slowly. This is the best time to invest in this space. And these tokens hold the maximum potential this month. Whether we talk about trading or staking, the above-mentioned coins hold a lot of potentials and can give you maximum returns. Therefore, put your money in the right place.