Top 10 budding cryptocurrencies for July

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This article will take a look at ten cryptocurrencies that have interesting developments for the month of July, which could also have a positive effect on their price.

Ethereum

Current price: $ 2,161

Market capitalization: $ 251 billion

Market capitalization rank: 2

Ethereum is a decentralized open source blockchain. It was launched in July 2015 and uses its native currency, ETH.

Ethereum was one of the first platforms to enable the creation of decentralized applications (dApps). Currently, there are over a thousand dApps built on the platform. Due to its ERC-20 compatibility standard, the platform can also host other cryptocurrencies.

ETH will be subjected to numerous forks in 2021. After the Berlin hard fork, which went into service on April 15, the London hard fork will be put into service in July.

Six Ethereum Improvement Proposals (EIP) are likely to be implemented within the range. Additionally, the one that has already been officially announced is the EIP-1559, which could significantly reduce gasoline costs by completely overhauling the pricing structure.

Unlike the current structure, in which users bid for gas prices, the new structure will introduce a base royalty for each block. On top of that, this will delay the Difficulty Time Bomb to coincide with the release of ETH 2.0.

As for its price movement, ETH deviated below the $ 2,000 support area, before recovering and moving higher. The next resistances are at $ 3,031 $ 3,350.

Ethereum Classic (ETC)

Current price: $ 59.86

Market capitalization: $ 6.9 billion

Market Cap Rank: 17

Ethereum Classic is a hard fork of Ethereum, created as a result of a disagreement between the developers of Ethereum. Specifically, the disagreement revolved around whether or not the effects of a hack should be reversed. It was launched in July 2016. The native token is ETC.

A network upgrade called Magneto will be released on July 7. It will include a series of EIPs that were introduced in the Berlin upgrade.

ETC has broken out of a descending resistance line and is moving towards the horizontal resistance zone of $ 80.

The story continues

Slide (SXP)

Current price: $ 2.00

Market capitalization: $ 200 million

Market Cap Rank: # 148

Swipe is a platform whose main objective is the connection between the fiat and cryptocurrency ecosystems. Its main products are: The Swipe debit card, the Swipe wallet and the native token, SXP.

The Swipechain testnet will be released on July 6 and is part of the Swipe network. A fork of THORChain, it allows interoperability, allowing inter-chain exchanges. While not intended as a substitute for other existing chains such as Ethereum or BSC, it will complement inter-chain trading.

SXP has hovered around the $ 1.65 horizontal support area since May 24. Technical indicators are showing bullish signs in the form of multiple bullish divergences. The closest resistances are between $ 3.08 and $ 3.62.

Kava.io (KAVA)

Current price: $ 4.28

Market capitalization: $ 274 million

Market Cap Rank: 124

Kava.io is a DeFi lending platform that allows its users to lend, invest and earn. Unlike other lending platforms, KAVA supports cross-chain assets. In addition to this, platform users can wager their tokens and earn rewards directly from the platform.

The Kava Swap Incentivized Testnet will launch on July 12. It will be a testnet that will inspire users to test its functionality. The first version of the test network will use many new features, such as different governance settings, swap fees, and rewards for delegation.

KAVA has been trading inside a descending parallel channel since April 6. He is currently right at his resistance line, making his fourth breakout attempt (red icons).

Technical indicators are bullish, which supports the possibility that he will succeed. The next closest resistance is at $ 7.25.

THETA (THETA)

THETA is a blockchain whose main purpose is video streaming. It operates as a decentralized network, where users share computing resources. Its native token is THETA, used primarily for governance issues.

THETA aims to reward viewers with a better quality streaming service. In addition, it seeks to improve income from content creations. Finally, it intends to reduce the costs of streaming platforms.

The Theta Mainnet 3.0 will launch on June 30. It will upgrade elite edge nodes and introduce both staking and token burning.

THETA has been down along a descending resistance line since April 14th. It broke off the line on June 4 and returned to validate it as support on June 22 (green icon).

If you were successful in holding the highest low, the next resistance would be $ 10.

SelfKey (KEY)

Current price: $ 0.0076

Market capitalization: $ 35 million

Market Cap Rank: 475

SelfKey is a blockchain-based identity platform. Its main product is a non-custodial wallet, providing users with secure storage for their assets. Its native token is KEY.

On July 8, KEY holders will receive additional KEYFI tokens following a drop. The drop will provide new tokens in proportion to their KEY holdings.

Additionally, another drop will take place on July 18, providing the captures with an additional KEY token for every 60 tokens they hold.

KEY is creating a double bottom pattern inside the $ 0.007 support area. If so, it could rise towards the nearest resistance at $ 0.012.

Horizon Protocol (HZN)

Horizon Protocol is a DeFi platform, which aims to extend the usual DeFi capabilities (lending, borrowing and liquidity), by creating on-chain synthetic assets.

Therefore, market participants will provide stable coins that support synthetic assets, which can be physical assets, equity assets, even traditional financial market indices. It is a fork of Synthetix.

The Phoenix Oracle module will launch in early July alongside the Horizon Genesis Mainnet.

HZN hit an all-time low of $ 0.079 on June 25. It has since rebounded but is still trading below a descending resistance line which has been in place since early June. As long as it has failed to erupt, the trend cannot be considered bullish.

If the token does break out, the closest resistance area would be at $ 0.20, the 0.5 Fib retracement resistance level.

Monday X (PUNDIX)

Current price: $ 1.06

Market capitalization: $ 274 million

Market Cap Rank: # 228

Pundi X is a blockchain platform that offers point of sale solutions, aiming to revolutionize the retail industry. It was launched in January 2018 as the world’s first point of sale solution. Since then it has launched many successful products, such as: XPOS, XPASS, XWallet and BOB.

The second quarterly burn will take place on July 17th. Previous quarterly token burns have so far amounted to around $ 50 million.

The token hit an all-time low of $ 0.578 on June 22 and rebounded. The first resistance zone is at $ 1.30.

Fetch.ai (FET)

Current price: $ 0.224

Market capitalization: $ 167 million

Market Cap Rank: 159

Fetch.AI is an artificial intelligence blockchain platform that builds the infrastructure necessary to build a digital and decentralized economy. It is built on a fragmented ledger and is capable of deploying artificial intelligence and machine learning solutions.

The native token is FET, which is a crucial part of smart contracts in the network.

The Mainnet Bridge expansion will go into service on July 16. It will allow staking, with estimated annual returns of 70 to 75%.

FET created a double bottom pattern inside the $ 0.20 support area. It has started to move up, but still follows a downward resistance line.

Lendefi (LDFI)

Current price: $ 0.285

Market capitalization: $ 1.3 million

Market Cap Rank: 1504

Lendefi is a DeFi protocol that allows users to lend their assets in order to earn interest. It supports multiple assets, while offering secured loans and secured loans.

The testnet will launch on June 28 while the mainnet will go live on the Binance Smart Chain on July 12.

While starting a bullish movement in early March, LDFI / ETH fell back to the 0.00013 support level since May 17th.

LDFI range

For the latest bitcoin (BTC) analysis from BeInCryptos, click here.

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