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The popularity of cryptocurrencies is increasing at a rapid pace and this influence is attracting new investors along with seasoned financial investors who want to give cryptocurrencies a shot. With several headlines every day, cryptocurrencies like Bitcoin and Ethereum are spreading the needed awareness of crypto potential. If you want to invest in cryptocurrencies or expand your already existing crypto portfolio, here are the best cryptocurrencies to watch out for in July 2021.
Bitcoin was the first-ever digital coin that could record transactions on a decentralized blockchain network. Launched in 2008, it's now the largest cryptocurrency in the market and dominates the crypto movements in terms of size, volume, value, and market cap. People who heard about Bitcoin in 2008 and did not believe in it have a love-hate relationship with this cryptocurrency now, as it touched its peak of US$60,000 earlier this year.
Next to Bitcoin, Ethereum is the second-largest cryptocurrency. It was launched in 2015 with just a supply of 72 million coins. Since last year, Ethereum has seen a 946.8% increase, and the new launches on its network are exciting market experts and experienced investors. According to predictions, Ethereum's price will touch the US$5,000 mark.
Tether is a unique cryptocurrency. In the crypto market, Tether is the most popular stable coin. A stable coin has its value pegged to a fiat currency like the US dollar and the Euro. They make for low-risk investments and the investor is guaranteed the value of a fiat currency for every Tether purchase.
Binance Coin is a token that can be used on Binance exchange, one of the largest cryptocurrency exchanges in the world. It's the fourth-largest cryptocurrency in the market and its value will continue to grow as long as there is activity on the Binance exchange platform.
In just 4 years, Cardano became the fifth-largest cryptocurrency. Known as the Ethereum killer, its blockchain network is the rival for Bitcoin and Ether. Amidst market volatility, Cardano has the capability to withstand the lows and stabilize quicker than other cryptocurrencies. Adding this to the fact that new launches await Cardano's network, this is potentially strong crypto to invest in.
Made as a joke by two software programmers, Dogecoin rose to popularity thanks to Elon Musk. In May 2021, Elon Musk made Dogecoin the first cryptocurrency to be accepted by Tesla and the rest made history through several headlines. The value of the coin has plummeted because of the hype, but experts are still counting on its foreseeable big boom.
Ripple has a unique technology behind its network, it is both, a cryptocurrency and a digital payment network. Made as a token to be used on the Ripple platform, this crypto can be used to buy other cryptocurrencies and for overseas transactions. This major utility has made Ripple an investor favorite.
Just like Tether, USD Coin is also a stable coin but its value is strictly connected to the US dollar. It runs on the Ethereum, Stellar, Algorand, and Solana blockchains and guarantees the value of one US dollar for one USD Coin to all investors.
There are more than a thousand cryptocurrencies in the market and Polkadot has an ambitious project in mind, to connect all the blockchains. When successfully done, Polkadot holds the ability to transform the cryptocurrency market. Polkadot's protocol was created by Ethereum's co-founder and experts predict that Polkadot will hit the US$50 mark soon.
In less than a year, Uniswap made its way to the top 10 cryptocurrencies in the market. Uniswap is a decentralized finance protocol that is used to exchange crypto. It's one of the most affordable cryptocurrencies to buy at the moment and also comes with huge growth potential.
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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.
