Signs Of Positivity Returning To The Crypto Markets
2022 has been a rough year for many within the crypto space as wider macroeconomic uncertainty and high inflation, coupled with the collapse of Luna from the exploitation of the algorithmic backed system by hedge funds has caused prices to plummet.
However, Q3 promises to be far more positive and signs of life have come back into the markets. As such, many investors are now deciding to enter back into the crypto market with whales and institutions now seeing an entry point after retail investors continued to purchase crypto at what they believe to be a monumental discount.
So with the markets bouncing back Ethereum, Celphish, and Dogecoin are three coins that could lead the way across Q3, and all for juxtaposing reasons.
Ethereum Has Its Best Month Since The Bull Run
Across July Ethereum (ETH) had its best month since the bull run, seeing a rise of 60%, and being one of the best performing top coins with only Polygon seeing stronger ROI as whales jumped into the protocol. This has given many ETH evangelists further belief that ‘The Flippening’ will happen which is where Ethereum overtakes Bitcoin as the leading cryptocurrency.
While if this were to happen it would likely still take some years, but there is plausibility behind why some believe that Ethereum is a better long-term play than Bitcoin. Fundamentally, Bitcoin is a store of value and has its utility in a similar vein to gold alongside being the premier payments coin in the market. Ethereum however, derives its value from the utility it provides to the wider ecosystem. The reason gas fees were so high over the last 18 months is because of the demand for NFTs and other projects on the Ethereum network. This is why researchers at the University of Sydney believed that Ethereum was a better hedge against inflation than Bitcoin.
As Ethereum is likely the premier blockchain for utility for Web3 it would not be a surprise to many in the know for Ethereum to surpass Bitcoin in the future.
Celphish Aims To Democratise DeFi
Segueing away from a top coin such as Ethereum, one coin that is in its early stages that is attracting attention from those in the space is Celphish (CELP). Celphish aims to open up and democratise the world of DeFi by increasing accessibility and providing a swapping mechanism that is easy to integrate across your DeFi wallets and a user interface that is stylish, but easy to use.
Moreover, they are looking to leverage the power that crypto can have within individuals’ smartphones and will launch a plethora of dApps through the network to enable smartphone integration. After it was announced that Solana will be releasing the world’s first Web3 phone Celphish is looking to build on this movement and continue to increase ease of use for all things crypto.
With the market still being somewhat turbulent diversifying your portfolio across an array of start-ups, scale-ups, and established protocols is diligent and Celphish could be a good tactic to diversify moving forward.
Dogecoin Stands Strong Through Its Community
When looking across coins that could elevate your portfolio a special mention must be made to Dogecoin (DOGE). Although this may surprise some as the meme coin has limited utility outside of a payment facilitator and the community behind the project, it is the very community that keeps Dogecoin going strong that will enable its continued success.
Dogecoin over the last three months has been largely trading sideways within a far tighter range than other top coins. This could be a sign of a breakout as those within the community are not selling which can limit the downside for those who are interested in Dogecoin. While there is always speculation around the crypto market coins that have a strong community with a HODL belief where everyone in the community looking out for one another can bring financial success.
As always it is important that you as an individual who is interested in crypto always do your own research, we think these are three coins that could have a very successful Q3.
Celphish Finance (CELP)
Presale: http://cel.celphish.io/presale
Website: http://celphish.io/
Telegram: https://t.me/CelphishFinanceOfficial
