This article looks at ten altcoins that had interesting developments in July that could also have a positive effect on their prices.
Ethereum is a decentralized open source blockchain. It was launched in July 2015 and has a native ETH token.
Ethereum was one of the first platforms that enabled the creation of decentralized applications (dApps). Over a thousand dApps are currently built on the platform. Due to the ERC-20 compatibility standard, the platform can also store other cryptocurrencies.
ETH will have several forks in 2021. After the Berlin Hard Fork, which took place on April 15th, the London Hard Fork will take place in July.
Six “Ethereum Improvement Proposals” (EIPs) are expected to be implemented via forks. Also suggestions for improvement EIP-1559 Gas costs can be reduced significantly by The fee structure has been completely revised.
Unlike the current structure where users have to bid on gas charges, the new structure offers a base charge for each block. In addition, it will delay the “difficulty bomb” on the release of ETH 2.0.
ETH deviated below the USD 2,000 support area before recovering and growing again. The next resistances are at $ 3,031 and $ 3,350.
ETH / USDT daily chart | Source: TradingView
Ethereum Classic is a hard fork of Ethereum. It was created following a disagreement between Ethereum developers. So after a hack hits, everything should or shouldn’t be rolled back. Ethereum Classic was launched in July 2016 with its native token ETC.
The network upgrade is called “Magneto”Will be released on July 7th and will contain the range of EIPs that were introduced with the“ Berlin ”upgrade.
ETC has now broken above the descending resistance line. It is about to move towards the $ 80 horizontal resistance area.
ETC / USDT daily chart | Source: TradingView
Swipe is a platform whose main goal is to connect fiat and cryptocurrency ecosystems. The main products of this platform include: swipe debit card, swipe wallet and native token SXP.
Test network Wiper chain as part of the swipe network, it will be released on July 6th. This test network is also a fork of THORChain. It is interoperable and enables cross-chain swapping.
Although it is not intended as a replacement for other existing chains like Ethereum or BSC. But it will add more functionality to cross-chain transactions.
SXP has been trading just above the $ 1.65 horizontal support area since May 24th.
Technical indicators are showing some bullish signs. The proof is that they created bullish divergences. The next resistances are at $ 3.08 and $ 3.62.
Daily SXP / USDT Chart | Source: TradingView
Kava.io is a DeFi lending platform. It enables users to lend, invest, and earn.
Unlike other lending platforms, KAVA offers support for cross-chain assets. In addition, users of the platform can place bets and earn rewards directly from the platform.
Test network from Kava Swap Incentivized wants debut on July 12th This is a test network that encourages users to test its functions beforehand.
The first version of testnet will have many new functions. For example, various governance parameters, swap fees and authorization premiums.
KAVA has been trading on a descending parallel channel since April 6th. He is currently right on the resistance line of the channel. KAVA is currently attempting a fourth escape attempt (red icon).
Technical indicators are increasing, which supports the possibility of a successful KAVA outbreak. The next resistance is at $ 7.25.
Daily KAVA / USDT Chart | Source: TradingView
THETA is a blockchain that focuses on video streaming. It acts as a decentralized network where users can share computer resources. Its native token THETA is mainly used for governance matters.
THETA was created to reward viewers with high quality streaming services. In addition, it aims to improve the revenue for content creators. And finally, lower the cost of streaming platforms.
Theta Mainnet 3.0 is expected debut on June 30th. It will update edge nodes, introduce token staking and burning.
THETA has been following a descending resistance line since April 14th, which broke out above this line on June 4th, then on June 22nd THETA reversed and confirmed this line as support (green symbol).
If this altcoin manages to hold a higher low, the next resistance will be at $ 10.
THETA / USDT daily chart | Source: TradingView
SelfKey is a blockchain-based identity platform. The main product of this platform is an unattended wallet. It gives users the ability to safely store their assets. SelfKey’s native token is KEY.
Next July 8th will take place an airdrop. Those who own KEY will receive KEYFI tokens. This airdrop delivers new tokens that match the number of KEYs they hold.
In addition, another airdrop will be held on July 18th. For every 60 KEY tokens available, holders receive 1 additional KEY.
KEY is about to double bottom within the USD 0.007 support area. If successful, the price can recover to the next resistance at $ 0.012.
Daily KEY / USDT chart | Source: TradingView
Horizon Protocol is a DeFi platform. By creating synthetic assets in the chain, it is possible to expand DeFi’s usual capabilities (credit, borrowing and liquidity).
Market participants can use stablecoins to obtain synthetic assets. It could be a physical asset. Or equity investments in traditional financial markets. This is a Synthetix fork.
Phoenix Oracle modules become started At the beginning of July with the Horizon Genesis Mainnet.
Pundi X is a blockchain platform that offers point-of-sale solutions. It was created to revolutionize retail.
Pundi X was launched in January 2018 as the world’s first point-of-sale solution. Since then, it has released many successful products. Such as: XPOS, XPASS, XWallet and BOB.
The Q2 token burn is expected occur on July 17th. Before that, the value of the token burn in the first quarter was around $ 50 million.
The token hit an all-time low of $ 0.578 on June 22 and rebounded shortly afterwards. If the price continues to move higher, the first area of resistance will be at $ 1.30.
PUNDIX / USDT daily chart | Source: TradingView
Fetch.AI is a blockchain platform for artificial intelligence. This platform was created to provide the necessary infrastructure. In doing so, you contribute to the development of a digital, decentralized economy.
Fetch.AI is based on a fractional ledger. It can be delivered using artificial intelligence and machine learning solutions (a subset of AI).
The native FET token is an important part of smart contracts in the network.
The expansion of the Mainnet Bridge is expected occur on July 16. It enables staking with an estimated annual return of 70-75%.
The FET double bottomed within the $ 0.20 support area. The price is currently moving up but is facing resistance from the downtrend line.
Daily FET / USDT Chart | Source: TradingView
Lendefi is a DeFi protocol that allows users to lend their assets for interest. This protocol supports multiple assets. It offers secure loans and mortgage loans.
Testnet will be launched on June 28th. Mainnet will job on Binance Smart Chain from July 12th.
The LDFI has started an upward trend since the beginning of March, the LDFI / ETH pair has fallen back to the support level of 0.00013 since May 17th.
Daily LDFI / USDT Chart | Source: TradingView
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
SN_Nour
According to Beincrypto
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