12 Most Important Cryptocurrencies to Watch in July 2024

Written by Jon Nielsen, coincodex

Compiled by: Mars Finance, MK

WhichcryptocurrencyIs it worth buying now?

The cryptocurrency market remains volatile, with many investors considering whether to sell now to secure profits or to hold on or even increase their holdings in order to take advantage of a possible price rebound in the short to medium term.

Although the cryptocurrency market has gradually recovered from the last bear market, every bear market will eliminate some projects. Therefore, it is particularly important to select high-quality crypto projects that are expected to survive the bear market and thrive in the future.

This article is based on liquidity, technological innovation, industry leadership,TokenWe analyzed 200 of the top cryptocurrencies based on a number of key factors, including economics. The detailed criteria are described later in the article.

Through careful analysis, we have selected more than a dozen cryptocurrencies with the most investment value in the current market. The top three of our list will be based on encryption andBlockchainThe latest developments in the field are updated weekly.

List of cryptocurrencies worth investing in July 2024:

• Bitcoin - a decentralized peer-to-peer cryptocurrency

• Toncoin — Tightly integrated with Telegram messaging appBlockchain

• Cardano — Ethereum’s main competitor

• Maker — A key decentralized finance project

• Ethereum - Leading Smartcontractplatform

• Solana — High-Performance IntelligencecontractBlockchainplatform

• Kaspa —— 基于 BlockDAG 架构的可扩展第一层Blockchain

• BNB BinanceMajor cryptocurrencies used in the ecosystem

• XRP - an efficient digital currency exchange tool

• Uniswap — the largest decentralized exchange on Ethereumexchange（DEX）

• Notcoin — TON blockchain project inspired by a popular clicker game

• Shiba Inu — The second largest meme coin on the market

Research cryptocurrencies worth investing in right now

We have started by focusing on three cryptocurrency projects that have made significant progress recently or are about to have important events. This information will be updated weekly to reflect the latest developments in the cryptocurrency and blockchain space.

Before we dive into the list of recommended cryptocurrencies, it’s important to emphasize that choosing which cryptocurrency to invest in is only the beginning of your digital currency investment journey. Choosing the right trading platform and storage options thereafter are equally important.

We recommend thatexchangeAfter purchasing cryptocurrency, the best thing to do is to transfer it to hardwarewalletConductedSafetyStorage. KuCoin Purchase and Ledger HardwarewalletStorage is a great place to start.

1. Bitcoin:

Bitcoin is a decentralized peer-to-peer digital currency that was first proposed in 2008 and started operating in 2009. The founder of Bitcoin is a person with the pseudonym Satoshi Nakamoto, whose true identity has not been revealed to date.

Bitcoin introduced blockchain technology, which provides a completely decentralized and extremelySafetyIt uses a proof-of-work mechanism, which greatly increases the difficulty of modifying transaction records or making double payments. The network is maintained by miners, who protect the network by adding blocks and receive Bitcoin as a reward.

BTC can be transferred anywhere in the world 24 hours a day without going through any intermediary institutions. Users can independently control their Bitcoin by keeping their own private keys without relying on financial institutions such as banks.

Despite the emergence of numerous cryptocurrencies and blockchain platforms, Bitcoin remains one of the largest cryptocurrencies by market capitalization.

Why Bitcoin?

Over the past 14 days, Bitcoin has gained 22% against the U.S. dollar, leading the broader cryptocurrency market. The rise in Bitcoin prices has coincided with heightened uncertainty in the U.S. political situation, including an assassination attempt against former U.S. President Donald Trump.

Many analysts believe that the assassination attempt may have increased Trump’s chances of winning the November presidential election, with blockchain prediction market Polymarket showing that Trump’s odds of winning rose from about 60% before the incident to 71%. After the initial reaction, Trump’s odds of winning against contenders including Kamala Harris and Michelle Obama were 64%.

The Bitcoin market has reacted positively to the increased likelihood of Trump becoming the next U.S. president, as Trump has a more friendly attitude toward Bitcoin and other cryptocurrencies than his opponent and incumbent President Joe Biden.

If Trump becomes president, it could mean the end of Gary Gensler’s tenure as chairman of the U.S. Securities and Exchange Commission (SEC), which is good news for the cryptocurrency market. Trump’s successor may be more open to blockchain-based financial products.

Trump said in 2019 that Bitcoin and other cryptocurrencies are "not real money" and "highly volatile and based on fantasy." But since then, his remarks have taken a more positive direction. In June of this year, Trump wrote on Twitter: "We want all Bitcoin to be made in the USA!!!" and said that "Bitcoin mining may be our last line of defense against central bank digital currencies."

Trump even plans to attend the Bitcoin 2024 conference in Nashville, Tennessee on July 27.

Additionally, Bitcoin spot ETF net flows are increasing, and while daily net flows were mostly negative from the second week of June to the second week of July, we have observed over $2.8 billion in inflows since then. This suggests that institutional investors see buying BTC at current prices as a good investment opportunity. At the time of writing, BTC is trading just 8% below its all-time high.

2. Toncoin

Toncoin is a blockchain project that was originally designed by the Telegram team, although Telegram abandoned the project due to a legal dispute with US securities regulators.CommunityThe members recognized the potential of the platform and decided to continue its development under the name Toncoin.

The development of Toncoin is currently led by the TON Foundation, an organization that has no formal connection with Telegram. It is worth mentioning that Telegram is integrating various features supported by the Toncoin blockchain into its communication services, such as the Telegram application now integrates TON Space wallet.

技术上，Toncoin 是一种具有智能contract功能和权益证明共识机制的可扩展区块链。其初期的TokenThe issuance adopts a proof-of-work mechanism to ensure fairness.

Why Toncoin?

On July 19, Telegram founder Paul Durov announced that Telegram will launch a built-in decentralized application store and Web3 browser, and emphasized the fight against scams targeting blockchain novices.

According to DeFi Llama, Toncoin is one of the fastest growing blockchain ecosystems in the world, with a total locked value (TVL) of $768 million, up from just $13 million at the beginning of the year. The main drivers of this significant growth include Telegram's broad user base and its deep integration with the open network, as well as the various incentives introduced by the team in recent months.

Additionally, the upcoming airdrop of Hamster Kombat, a globally popular game that has attracted more than 250 million users since March, is expected to further boost growth. This integration and the upcoming issuance of the native token are expected to drive TON prices further up.

3. Cardano

Cardano is a decentralized blockchain platform founded by Ethereum co-founder Charles Hoskinson, which aims to provide a more secure and secure environment for smart contracts and decentralized applications (dApps).Safety, more scalable infrastructure. Launched in 2017, the platform uses a unique proof-of-stake consensus mechanism called Ouroboros, which is more energy-efficient andSafety.

Cardano's native cryptocurrency, ADA, is used to support transactions and operations within the network. The platform's development is based on academic research and peer review, striving to build a scientific and rigorous blockchain ecosystem. Its layered architecture separates account value and transaction reasons, improving the flexibility and security of the system.

Why Cardano?

Earlier this month, Cardano released an update to its validator node software Node 9.0 in preparation for the upcoming Chang hard fork, which is seen as a major improvement that will introduce a decentralized governance mechanism. Currently, 29%'s nodes have been upgraded to the new version, demonstrating an important step towards wider adoption.

Additionally, Cardano prices have been strong in recent times, with ADA rising by 26% between July 8 and 16, showing potential for growth.

4. Maker

Maker is a decentralized financial protocol running on Ethereum that manages the decentralized stablecoin Dai pegged to the US dollar. Users can use assets such as ETH as collateral and lock these assets in Maker's smart contract to mint Dai.

The Maker system requires that the value of the collateral exceeds the value of the minted Dai, and users must monitor the value of the collateral at all times to avoid liquidation.DAO Maker’s governance tokenDAO It is a decentralized autonomous organization that oversees the Maker Protocol.

Why choose Maker?

MakerDAO Recently announced was the Spark Tokenization Grand Prix, an open competition to invest $1 billion in tokenized real-world assets (RWAs) through the Maker platform. Multiple major asset managers have lined up to participate, demonstrating widespread support and trust in the Maker platform.

5. Ethereum

Ethereum is a blockchain platform that supports smart contracts, allowing developers to build complex applications such as decentralized lending protocols and non-fungible tokens (NFTs). The project was proposed by Vitalik Buterin in late 2013 and officially launched in July 2015.

One of Ethereum’s earliest applications was to support the issuance of custom tokens that could be traded on the Ethereum blockchain. Several projects have successfully raised funds through Initial Coin Offerings (ICOs) and other token sales.

Currently, Ethereum has one active decentralized application (DApp) ecosystem, covering decentralized finance (DeFi), NFT markets, publishing platforms, and decentralizedexchangeetc., which makes it a great investment option for 2023.

ETH is the native asset of the Ethereum blockchain, which incentivizes users to maintain network security. Initially, Ethereum used the Proof of Work (PoW) mechanism, but later switched to the more environmentally friendly Proof of Stake (PoS) in September 2022.

Why choose Ethereum?

With the Ethereum ETF expected to be listed in the U.S. market soon, ETH has undoubtedly become one of the most watched crypto assets in the short term. After the U.S. Securities and Exchange Commission (SEC) approved the 19b-4 filing for the relevant Ethereum ETF, the price of ETH once soared to about $3,900. Although it has fallen back since then, once the ETF actually starts trading, it is expected to trigger bullish activity in the ETH market again.

Considering the market reaction when the first Bitcoin spot ETFs began trading in the United States earlier this year, the price of BTC soared from about $45,000 to a record high of more than $73,600. Although it is difficult to predict the specific impact that the Ethereum spot ETF will have on ETH, the market is generally optimistic about it. According to the latest news from Bloomberg analysts, the SEC may approve the listing of the Ethereum spot ETF on July 15.

6. Solana

Solana is a smart contract platform known for its unique architecture that can process thousands of transactions per second at a very low cost. Solana achieves this by combining a unique historical proof algorithm and a proof-of-stake consensus mechanism. As a cryptocurrency, SOL is favored by the market for its low transaction costs (less than $0.001 per transaction on average).

Solana was founded by Anatoly Yakovenko in 2018, with the mainnet launched in March 2020 and gaining widespread adoption in 2021. Despite a decline in value during the bear market in 2022, Solana remains one of the most compelling ecosystems in the cryptocurrency space, and its potential cannot be underestimated.

Why Solana?

Asset management companies VanEck and 21Shares have applied to launch spot Solana ETFs in the United States, both seeking to be listed on the CBOE BZX exchange. 21Shares plans to use Coinbase as the SOL custodian for its fund, with funds stored in a separate wallet on the Solana blockchain. It is worth noting that the fund will not pledge SOL due to regulatory requirements.

Outside the United States, 21Shares has launched an exchange-traded product (ETP) 100% backed by SOL that allows holders to receive collateralized returns. The product is traded on the Swiss Stock Exchange, Stuttgart Stock Exchange and Amsterdam Stock Exchange.

Although there are now active Solana ETF applications, the path to a Solana ETF may be more complicated than the recently approved Ethereum ETF. It is important to note that the US securities regulator SEC has claimed in at least two lawsuits that SOL is an unregistered security, and unlike Bitcoin and Ethereum, there is currently no regulated Solana futures market in the United States.

7. Kaspa

Kaspa is a decentralized cryptocurrency project focused on high scalability and fast transactions. Kaspa uses block DAG instead of traditional blockchain technology, and is committed to fast block confirmation to provide a more efficient and user-friendly experience. This first-layer blockchain combines proof of work (PoW) with directed acyclic graph (DAG) to optimize the finality of blocks, making the Kaspa network superior to other PoW chains in terms of energy consumption and transaction processing efficiency.

Why choose Kaspa?

Kaspa had an excellent last week, gaining 19.5% against the dollar. The main driver of this growth was the announcement by crypto mining company Marathon Digital that it has been mining Kaspa since September 2023. The company has acquired 60 petahashes worth of Kaspa mining hardware (Bitmain's KS3, KS5 and KS5 Pro miners), although only half is currently running. The company expects that once all mining hardware is deployed, it will have 16% of the global Kaspa hashrate.

Adam Swick, Chief Growth Officer at Marathon Digital, said: “Kaspa’s technological innovation and dynamicCommunityThis allows us to diversify our revenue streams and increase profitability per kWh. While Bitcoin has its own unique value, Kaspa’s innovative technology provides us with a valuable opportunity to support and foster innovation in Proof of Work.”

8. BNB

BNB isBinanceThe token was launched by the cryptocurrency exchange in 2017. This token has two main uses: first, holders can enjoy a series of benefits when using the Binance exchange, including reduced transaction fees, priority participation in Launchpad and Launchpool projects, and cash back when using Binance Visa cards; secondly, BNB, as the native asset of the BNB Chain blockchain, not only has lower transaction fees on this platform based on an Ethereum variant, but also allows developers to easily deploy decentralized applications compatible with the Ethereum Virtual Machine (EVM). Formerly known as Binance Coin, BNB has undergone extensive rebranding in recent years.

Why choose BNB?

Binance recently launched a new program called "HODLer Airdrops" to reward users who hold BNB in its Simple Earn product. Binance said that it will airdrop tokens of projects that are about to be listed and have a large circulating supply through HODLer Airdrops. Binance promises that these projects will be fundamentally sound andCommunityActive small and medium-sized projects. In addition, BNB holders who participate in Simple Earn can not only receive airdrops, but also enjoy other benefits of Launchpool, Megadrop program and Binance VIP program.

9. XRP

XRP is a cryptocurrency launched in June 2012 and developed by David Schwartz, Jed McCaleb and Arthur Britto, who co-founded OpenCoin with Chris Larsen. Initially, 80% of the XRP supply was gifted to OpenCoin, which later changed its name to Ripple and held the majority of its XRP in escrow.

XRP provides extremely fast transfer speeds and low costs, making it particularly suitable for scenarios such as international remittances. Unlike systems that use proof of work or proof of stake, XRP implements the XRP Ledger Consensus Protocol, where each participant in the network can choose a group of validators they trust to maintain the security and stability of the network.

Ripple has incorporated XRP into several of its products, most notably its On-Demand Liquidity (ODL) service, working with cryptocurrency exchanges to leverage XRP to make cross-border remittances more efficient.

Why XRP?

As a core member of the XRP Ledger ecosystem, Ripple recently announced that it will launch a stablecoin pegged to the US dollar on the XRP Ledger and Ethereum platforms. This stablecoin will adopt the traditional full-backed model, backed by US dollar deposits, short-term US Treasury bonds and other cash equivalents. In order to improve transparency, Ripple plans to publish audit certificates from third-party accounting firms every month to verify the full support of the stablecoin. This move is expected to greatly enhance the liquidity of the XRP Ledger and may bring new growth momentum to XRP.

10. Uniswap

Uniswap is a decentralized cryptocurrency exchange that promotes the automated market maker (AMM) model. This innovative design allows different tokens to be exchanged directly on the blockchain without relying on traditional order books, greatly simplifying the trading process.

The Uniswap protocol is completely decentralized, and anyone can create a liquidity pool for tokens, which often allows new crypto assets to be traded on Uniswap before entering traditional cryptocurrency exchanges. In addition, Uniswap is also one of the decentralized exchanges with the largest trading volume.

UNI tokens are held by users of the Uniswap protocol, who can submit and vote on protocol proposals. UNI was initially airdropped to early users of Uniswap, and the token is now available for trading on multiple decentralized and centralized exchanges.

Why Uniswap?

The UNI token has performed well in the past week, with the price rising by 12%, setting a multi-week high. At the same time, most cryptocurrencies in the market are depreciating. On-chain data shows that the growth of UNI open interest is consistent with the market trend, showing the growing interest of investors in UNI. In addition, Uniswap recently supported ZKsync, allowing its users to trade on the efficient Ethereum second-layer network, which will bring lower fees and faster transaction times to Uniswap, which may promote positive views on UNI.

11. Notcoin

Notcoin first appeared in the Telegram messaging program as a simple clicker game. By continuously clicking on a shiny coin image, players can earn points and activate rewards to increase the speed of earning points. The Notcoin Mini App also has basic social functions. Users can create "teams" and compete with other teams on the leaderboard. These features helped Notcoin quickly gain the attention of millions of users.

Currently, the Notcoin team has launched a real token on the TON blockchain platform, codenamed NOT. This token is intended to serve as a community token to reward users for exploring web3 Activities when entering the ecosystem, playing games, or contributing value to the ecosystem.

Why Notcoin?

Notcoin has partnered with DeFi project 1inch and on-chain certification project Sign to provide startup acceleration services for teams on the TON blockchain, called Triangle. This accelerator supports those who are committed to improving the TON user experience and creating bridges between web2 and web3 Participants will be supported by market entry services, investment and guidance, and will have access to the TokenTable token management platform and Sign Protocol to prevent misconduct. In addition, 1inch will provide support for DeFi integration. The first batch of members of the accelerator includes many industry heavyweights, indicating the development potential of Notcoin.

12. Shiba Inu

Shiba Inu is a meme-based cryptocurrency created in 2020 by a developer who goes by the pseudonym "Ryoshi". The project is heavily inspired by Dogecoin and uses the Shiba Inu dog breed as its brand image. Unlike Dogecoin, which has its own blockchain, Shiba Inu is issued as an ERC-20 token on the Ethereum blockchain.

In the initial distribution of SHIB tokens, half of the supply was transferred to Ethereum founder Vitalik Buterin, although he had nothing to do with the project. This action was seen by the project as a token burning initiative. Buterin subsequently destroyed most of his SHIB holdings and sold the remaining tokens, with the proceeds used for charitable donations.

In 2021, SHIB's popularity has risen sharply, and its market capitalization has become the second largest meme coin, second only to Dogecoin. In addition, SHIB is also one of the most popular low-priced cryptocurrencies currently.

Why Choose Shiba Inu?

The Shiba Inu project raised $12 million by issuing TREAT tokens. The funds were provided by several international venture capital firms including Mechanism Capital and Big Brain Holdings.

The TREAT token is designed to be the last newly introduced token in the Shiba Inu ecosystem and is intended to serve as a utility and governance token for the new blockchain, improving the privacy of blockchain transactions.

The ecosystem’s new blockchain will use fully homomorphic encryption (FHE) technology developed by Zama and is planned to serve as a third-layer blockchain in ShibaXiaobai NavigationIt runs on the rium platform.

Shytoshi Kusama, lead developer of the Shiba Inu project, said of the funding:

“We are very excited to have such strong VC support, angel investors and brands working together to advance this ambitious decentralized project. These VC partners and their strategic collaboration add credibility to our network and significantly enhance the contribution that Shiba Inu can truly make to our community, the ‘ShibArmy’.”

[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.

The article comes from the Internet:12 Most Important Cryptocurrencies to Watch in July 2024

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