In a recent Youtube video, an expert crypto analyst listed the altcoin projects with the greatest potential to invest in July 2021. While Bitcoin is on the list, it is ambitious in other projects. Our article, which will be a small guide for individual investors, starts with the Ethereum killer Cardano…
Cardano surpasses leading altcoin ETH
The analyst states that he had no difficulty in choosing ADA for the first place. Currently, $31 billion worth of ADA is staked on Cardano. The analyst explains this data as follows:
71% of ADA’s circulating supply. 7 of them are staked in 2,665 active pools. Cardano is a leading altcoin that surpasses even the staked value of ETH in this regard.
Additionally, the analyst states that the increase in the amount of ADA staked is due to the expected milestone for the network. Stating that this move may pave the way for the adoption of a wider network, the analyst also emphasizes that it may create a more important scam for ADA. Also, Cryptocoin. com, Grayscale has added Cardano, which will constitute 4.26% of the Digital Big Equity Fund, to its funds. The analyst, who made Cardano the star of July with this important development, chooses another smart contract platform, Ethereum, for the second place.
ADA’s biggest competitor “leading altcoin” takes the second place
The second asset on the list, the leading altcoin Ethereum, has reached its lowest level since November 2018. Recently, Twitter and Reddit have used ETH for different purposes, which has started to be withdrawn slowly to cold wallets for the long term. Twitter posted a series of NFTs on the network, while Reddit used ETH for community hotspots. Additionally, giant investment bank JPMorgan says Ethereum upgrades could quickly kickstart the $40 billion staking industry. For Ethereum, which has a ton of positive developments, another point that the analyst draws attention to is “Staking Pools”…
The analyst explains and conveys the importance of Ethereum Staking as follows:
Not only does staking reduce the opportunity cost of holding cryptocurrencies compared to other asset classes, but in many cases cryptocurrencies provide a significant nominal and real return.
As we move towards the end for the Ethereum analysis, it is necessary to emphasize the tight relationship of the leading altcoin with the institutional investor. As the analyst reported, another important company is in the industry in The Big 4. Big 4 Consultancy EY company has released a new code for the zero-knowledge Layer 2 protocol built on Ethereum. The analyst summarizes the development as follows:
At the heart of the innovation is to move the processing or execution of Ethereum-based transactions from the primary network or Layer 1 to a secondary layer. This idea is for Ethereum transaction volume to improve. Additionally, aggregations will also appear in Ethereum smart contracts.
Finally, the analyst states that EY’s latest steps will be a new tool for DeFi protocols and user-based uses, in order to relieve the congestion experienced by Ethereum at peak times. The other name of the queue is a project in contact with the real world.
In third place is Chainlink (LINK)
Busy days await Chainlink (LINK), which is third on the list, with a total of 617 integrations in the coming days. While describing the integrations as “exciting”, the analyst especially highlights the partnership with Vent Finance. It has been determined that VentFinance, which will integrate with Chainlink VRF to secure the decentralized allocation system, will whitelist all its users. Additionally, you will be provided with a good chance to participate in the first projects launched in the Cardano ecosystem.
Also, Digital art gallery 0x Strata will use Chainlink VRF in the Whole Picture project to create amic NFTs based on Hector Falcon’s drawings. The analyst briefly explains this news as follows:
Chainlink VRF gets a truly spontaneous start by randomly choosing the first canvas of all multilayer NFTs.
After 3 altcoins, the king of crypto is next
For the analyst, the last crypto asset to invest in July is Bitcoin. BTC’s first Bitcoin upgrade in four years has been confirmed by miners around the world. Therefore, the analyst emphasizes the importance of the Taproot update, adding that it will present a great opportunity for developers.
Finally, the analyst says that the Bitcoin market could gain momentum this month as investor restraints over the sale of shares in the world’s largest cryptocurrency fund, Grayscale Bitcoin Trust (GBTC), are over.
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