Cryptocurrencies can come to the fore for different reasons. While fraud and fluctuating price movements are negative examples, their high earnings attract the attention of investors. Newcomers to the markets, on the other hand, are researching the best altcoin projects to buy during the recovery. We examine “4 altcoin projects that need to be invested now” by experienced crypto follower Jimmy Aki…
First place owner: Uniswap (UNI)
The analyst begins his list of must-buy cryptocurrencies with the decentralized trading platform Uniswap. Launched in 2018 and reaching $48 billion in the last April storm, UNI is the first name that comes to mind among DEXs. UNI also has the support of institutional investors, and with this interest, the protocol’s native token UNI manages to reach $44.92 ATH.
Also, although UNI lost more than 50% of its value in the big sale in May, it is slowly gathering strength. At the current price of $22.53, the asset managed to gain 11.67% on the daily chart. This top performance makes UNI one of the series of cryptocurrencies to buy in July, according to the analyst. The platform is also attracting more attention with the popular crypto data site Coinmarketcap, which provides automatic swap for users visiting its site via the Uniswap API. The analyst’s next name is a cryptocurrency beyond what was expected…
Leading cryptocurrency Bitcoin is also on the list
The analyst, who preferred the world’s oldest crypto money Bitcoin to the second rank of the list of cryptocurrencies to buy, states that despite the difficulties, BTC is performing well. At the same time, according to the analyst, BTC is the de facto leader of its industry and drives the market. The fact that it dominates 44% of the market and that ETFs are also included in the market for Bitcoin are also the biggest features that place the king of crypto in second place according to the analyst. In addition, the analyst interprets Bitcoin ETFs as follows…
Stating that the US Securities and Exchange Commission (SEC) is currently examining more than eight Bitcoin ETFs, the analyst stated that Canada received a lot of positive feedback from the public on this issue, and that a number of Bitcoin-focused investment firms also have ETFs. reports its approval. In the technical part of Bitcoin, time has been spent in the red zone for two months. However, stating that the situation has improved for BTC, the analyst adds that BTC has increased by 1.92% and is currently trading around $ 34,000. Finally, according to the analyst, as the price of the leading crypto continues to rise, the voracious investor is not afraid to give the green light to seize the opportunity to buy at low levels.
The next altcoin is Aave (AAVE), a DeFi project
Choosing the decentralized finance loan protocol Aave for the third row, the analyst states that users prefer the platform to earn interest. It is also possible to earn passive income by participating in liquidity pools on the platform. For this reason, the analyst states that he prefers Aave in line with the needs of different investors. The analyst’s technical comment is as follows….
15% of Aave in the technical part. We can start by saying that it leads the DeFi space with a market dominance of 67. While AAVE’s native token has seen better days, the DeFi token is currently trading at $321.65, up 16.90%. Stating that an uptrend is still possible with the 20 MA trading below the support at $242.87, the analyst adds that it is bullish on the RSI and stops at 60.26 on the daily chart. Finally, the protocol also targets institutional investment in the DeFi field. According to founder Stan Kulechov, Aave will launch private loan markets for institutional clients later this month.
The fourth name of the list is Compound Finance (COMP)
Just like Aave, Compound Finance allows users to earn passive income from the liquidity pools of the protocol. Through the cTokens given in exchange for their deposits, investors can get collateral from any pool they want. The LTV rate is amic and depends on the collateral asset. However, the current LTV is between 50% and 75%. If it falls below the expected rate, users may face automatic liquidation.
, on the other hand, altcoin COMP had an extraordinary 2021, hitting an all-time high of 854.48 days before its collapse in May. Despite losing 50% of its value afterwards, COMP has been trying to recover over the past month. However, as the analyst pointed out, for most of June, the DeFi token’s reaching the $450 resistance level was not entirely successful. However, the table turns green again as the market gains momentum. COMP, 17% in the last 24 hours. It managed to climb 16 to $503.49. COMP also, Cryptocoin. com, it is making progress towards institutional acceptance with the protocol that launched an independent company called “COMP Treasury”. This company will focus on enabling the next generation of financial service providers to access digital assets directly without going to a third party.
Binance Coin (BNB) is the last most lucrative altcoin project on the list
Last on the analyst’s list of cryptocurrencies to buy, the official currency of the Binance cryptocurrency exchange is BNB. Stating that the asset has a lot of potential, apart from trading discounts on the Binance crypto exchange, the analyst adds that BNB made ATH with $ 650 in the April padols. However, the price is currently trading well below its peak. At the time of writing, trading at $311.26 on the daily chart, up 2.98%, BNB could renew its top as the Binance platform offers more services. BNB, which is backed by leading cryptocurrency exchange Binance, is a potential asset according to the analyst.
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