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Cryptocurrencies have not only changed the world's perspective on money, profits, investment, and trading, but they have also continued to evolve in their own space since the first Bitcoin block was mined in 2009. With few barriers to overcome, pretty much anyone that understands blockchain technology is willing to launch their own cryptocurrency if they are so inclined. Although Bitcoin is at the center of cryptocurrencies' popularity, thousands of other digital currencies have emerged from the trend so far. Despite the numerous options given to crypt investors, there is always hope for the most popular cryptocurrencies. Every day, more people and institutions are growing to accept cryptocurrencies as legitimate means of payment, and their first choice would be top cryptocurrencies. Of the total number of cryptocurrencies and digital tokens, it is fair to conclude that the number of digital currencies that are making a significant impact in society can be reduced down to two digits. Remarkably, most popular cryptocurrencies have a special stance in the digital currency market. Their price, growth, market cap, adoption, etc are higher compared to other cryptocurrencies. Therefore, Analytics Insight has listed the top 10 most popular cryptocurrencies that crypto investors should keep an eye on in July 2021.
Bitcoin, synonymous with the cryptocurrency market, has enjoyed fame and luxury for a long time. Ever since its inception in 2009, the cryptocurrency has managed to stay at the top of all other digital currencies in the sphere. However, recent months didn't act in favor of Bitcoin. First, it was Elon Musk, then the Chinese government and their total ban on Bitcoin mining. Both the announcements have drastically affected bitcoin pricing. However, despite its price fall, crypto investors think otherwise. The market participants have digested the recent hit and are still relying on Bitcoin investments. Unfortunately, Bitcoin price continues to drop and remains under US$34,000 as of today.
Due to Bitcoin's fall, the next popular cryptocurrency, Ethereum, is enjoying the spotlight. In one of the biggest signs that Ethereum is growing drastically, the digital currency has surpassed Bitcoin in terms of the total number of daily active addresses. The active addresses n a crypto network shows the total number of senders and receivers for a particular token. Although it is impossible to gauge how long Ethereum will take to get Bitcoin's hash rate back up, the hype has become an opportunity for the digital currency to show its potential.
How far can a meme go? To the extent that people start investing in it. Not actually the meme, but the digital currency that was born out of the meme. If you are frequent in the cryptocurrency market and read articles and news about cryptocurrencies, then you must already be familiar with the story of Dogecoin and its origin. Yes, what came in as a joke is now one of the most popular cryptocurrencies in the digital currency sphere. Recently, the meme-inspired crypt coin made it into the top five most traded cryptocurrency list, with over US$253 billion in monthly trading volume.
Often dubbed as silver to Bitcoin's gold, Litecoin is one of the most established digital tokens in the industry. For the whole last week, Litecoin was mostly seeing an upward trend that put the cryptocurrency's price at over US$160 target. Although Litecoin trading was not very positive at the beginning of 2021, crypto investors still considered it as a good investment because of its ability to make blockchain transactions faster, and more efficient.
Most altcoins face the heavy wind of the storm when a bearish market takes a swing on the chart. While Bitcoin and Ethereum were on constant fall, other cryptocurrencies had no choice but to follow their cue. Fortunately, that hasn't been the case with Cardano. Since last October, Cardano has experienced a whopping 227% rise in adoption. However, similar to their price swing in 2018, the current year is also imposing a similar trend for digital currency.
XRP has been moving downwards since April this year but has bounced at the long-term US$0.60 horizontal support area. While the direction of XRP in the long-term is still unclear, for now, the digital currency is performing well and breaking the odds. Ripple made a solid recovery this weekend, coming from US$0.626 toward US$0.707, a 13% move to the upside that got squared during the Asian session.
Tether, is one of the best stable coins that is pinned to the US dollar. Digital currency aims to mitigate the volatility that normally comes with other cryptocurrencies like bitcoin and etherum. Tether is the most popular stable coin with a market cap of more than US$60 billion. Besides, it is the third-biggest cryptocurrency in the world by market value.
Polkadot, is a blockchain network that can be described as a 'blockchain of blockchains,' or 'multichain.' In 2021, Polkadot investors enjoyed the price surge like never before. Their patience showed its virtue as the digital currency rose by more than 70% last month, according to crypto exchange Coinbase.
Uniswap, is among the few coins still trading at the green zone this week as the rest of the crypto market experienced a dip. Unisawp was trading at US$22.36 on major exchanges last week. The digital currency has gone above the US$20 critical support levels at the current price, which shows it may be recovering from bears. A full recovery will be recorded if Uniswap pushes beyond US$25, a level that will form the ground for a full swing.
Chainlink, is currently the 14th largest crypto and it has shed close to 43% of its value in line with the broader crypto market. Over the last year, the token has gained an incredible 330% spike and became one of the best performing digital currencies in the market. Chainlink's network of independent oracle without a unified node network makes it one of the attractive investments in 2021.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
