Top 4 Altcoins Ready To Explode in July 2021, Says Altcoin Daily
In the recent video, popular crypto channel Altcoin Daily shares the top cryptocurrency with massive potential to invest in July 2021 amid the current bearish trend.
First on the list is Cardano (ADA). According to the analyst, $31 billion worth of ADA is now staked in Cardano: “That is 71.7% of the ADA circulating supply staked across 2,665 active pools. Cardano is a leader, even beating ETH‘s staked value, in this regard”.
The rise in the staked amount of ADA is due to the anticipation of a major milestone in the network’s evolution — one that could set the stage for wider network adoption and a more considerable price appreciation for the cryptocurrency.
Besides, Grayscale has recently added Cardano to Its cryptocurrency investment fund, making up 4.26% of the Digital Large Cap Fund.
The next altcoin on the list is Ethereum (ETH). As Altcoin Daily says, ETH supply on exchanges just reached the lowest since November 2018.
Moreover, two big social media networks Twitter and Reddit have used Ethereum in which Twitter gives out ETH non-fungible tokens (NFTs) and Reddit utilizes ETH as community points.
Institutional adoption is another catalyst for Ethereum. Recently, JPMorgan said that Ethereum upgrades could jumpstart the $40 billion staking industry.
“Not only does staking lower the opportunity cost of holding cryptocurrencies versus other asset classes, but in many cases cryptocurrencies pay a significant nominal and real yield”.
Big 4 companies are not out of the game. The Big 4 Consultancy EY released code for zero-knowledge Layer 2 protocol built on Ethereum.
“At their heart, rollups are intended to move the processing or execution of Ethereum-based transactions from the primary network, or Layer 1, to a secondary layer, the idea being that such an approach can improve transaction throughput. Rollups exist as smart contracts on Ethereum”.
According to the crypto KOL, per EY’s statement, the company built the new tool in response to “network congestion and raised transaction costs” in light of the platform’s use by DeFi protocols and their user bases.
Third on the list is Chainlink (LINK). The network just has another jam-packed month of integrations, with a total of 617 integrations announced since Chainlink’s inception.
One of the exciting integrations is with Vent Finance. The crypto KOL says that VentFinance will integrate Chainlink VRF to secure their decentralized allocation system. Chainlink VRF ensures that all users have a fair chance at getting whitelisted and participating in early projects launched in the Cardano ecosystem.
Besides, Digital art gallery 0x Strata is also using #Chainlink VRF in its Whole Picture project to create dynamic NFTs based on Hector Falcon‘s artwork.
“Chainlink VRF randomly selects the first canvas of all multi-layered NFTs, ensuring a truly spontaneous beginning”.
The last cryptocurrency to invest in July is Bitcoin (BTC) as the first bitcoin upgrade in four years has been approved by miners around the world – Taproot: “Taproot matters, because it opens a breadth of opportunity for entrepreneurs interested in expanding bitcoin’s utility”.
Besides, Bitcoin market could gain momentum this month from the end of investor restrictions on selling shares in Grayscale Bitcoin Trust (GBTC), the world’s largest cryptocurrency fund.