BigONE Strategy: 3 altcoins need to be paid close attention to in July

In 2021, the cryptocurrency market witnessed significant volatility. Digital currencies, led by Bitcoin, set record highs in March and April this year but dropped more than 40% in May and June. As the market gradually stabilizes, cryptocurrency investors anticipate that the price of digital currencies will return to their April highs. Still, BigONE believes that currency price recovery is mostly dependent on other external factors. In fact, the two terms that many investors are likely to hear this month are regulation and DeFi.

Regulations

As many countries and regions around the world have issued relevant policies, laws, and regulations for the trading and mining of digital currencies, we can see that governments from various countries are attempting to control the massive cryptocurrency industry, and the promulgation of regulatory policies will inevitably become the primary task for the regulatory bodies. Take the United States as an example. The Federal Reserve has promised to negotiate about a digital dollar this summer. The Securities and Exchange Commission is taking action against unscrupulous participants. The Internal Revenue Service(IRS) is cracking down on crypto tax evasion. Behind this news, the government is controlling crypto and wants to take charge of the currency market.

DeFi

Decentralized finance (DeFi) is gaining popularity. DeFi eliminates intermediaries from numerous financial services, and investors are becoming increasingly interested in DeFi. It is worth mentioning that DeFi has not escaped the attention of regulators, and BigONE feels that this may limit the industry’s expansion.

BigONE View: 3 altcoins worth watching in July

AAVE

AAVE is a DeFi lender built on the Ethereum network. It is one of the few altcoins purchased by billionaire investor Mark Cuban. Mark Cuban said he was attracted by the seamless and stress-free banking services it provides. Borrowers can obtain highly competitive interest rates through AAVE, and cryptocurrency investors can lend their assets to obtain higher returns than banks. According to information obtained by BigONE, AAVE has recently launched a new liquidity mining plan, and it’s one of the leaders in the DeFi industry in terms of market share. Interested investors should pay attention to the growth.

SOL

Solana, based in Francisco, is the 14th most valuable cryptocurrency in terms of market value. Because it can host applications and other digital currencies, SOL is one of the few crypto ecosystems that BigONE can compete with Ethereum. It can handle about 50,000 transactions per second, making it faster and more scalable than Ethereum. It is not the first cryptocurrency that has been dubbed a potential Ethereum competitor. Ethereum has had difficulty dealing with network congestion and excessive fees. Although the Ethereum team has made it known that they are working hard to improve Ethereum 2.0, the completion date is unknown. Thus many developers are exploring alternatives.

GRT

Some refer to The Graph as the “Google of blockchain.” This “new” cryptocurrency can quickly search data between different Ethereum applications. In this fast-growing industry, it may appear that each cryptocurrency is seeking to solve different problems. As an investor, it is important to grasp the problems that need to be solved. In this case, smart contracts must be able to easily access data that is stored in other applications or outside the network. This data may be necessary to trigger the self-executing code we mentioned earlier.

The Graph is a data indexer for the blockchain. It enables smart contracts in decentralized applications (DApps) to access data from the Ethereum network and index data from other networks. According to BigONE, The Graph has partnered with many popular DApps and received funding from many popular individuals.

In addition to the three altcoins mentioned above, Cardano (ADA) and Ethereum (ETH) are two other reliable cryptocurrencies that BigONE recently deemed worthy of attention. First of all, Cardano intends to implement its smart contract function as soon as possible, which will expand Cardano’s capabilities and entice developers by using self-executing code. Furthermore, Ethereum is working hard on its version 2.0, which will make it faster and more environmentally friendly.

BigONE wants to remind investors that cryptocurrencies are not immutable, which means that their prices can be influenced by various external causes, resulting in dramatic price swings. This is why BigONE always recommends that investors only invest in funds to afford to lose and diversify and balance their cryptocurrency holdings.

BigONE recommends a few notable cryptocurrencies. Investors must conduct their own research and study before deciding whether to accept it or not because only they know their own investing plan and risk tolerance.

About BigONE

BigONE is a global cryptocurrency exchange that provides a platform for trading various cryptocurrencies. It was founded in 2017 and registered in the Netherlands. The group operates in Russia, Brazil, Vietnam, Seychelles, Singapore, Japan, and Indonesia, providing marketing, investment, and blockchain technology research & development.

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BigONE Exchange

BigONE Exchange

The most secure and convenient cryptocurrency exchange in the world. For the fastest support, please create a customer support ticket on the site.

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