This article will take a look at ten cryptocurrencies that have interesting developments lined up for the month of July, which could also have a positive effect on their price.
Current Price: $2,161
Market Cap: $251 Billion
Market Cap Rank: #2
Ethereum is a decentralized open-source blockchain. It launched in July 2015 and employs its native currency, ETH.
Ethereum was one of the first platforms to allow for the creation of decentralized applications (dApps). Currently, there are more than one thousand dApps built on the platform. Due to its ERC-20 compatibility standard, the platform can also host other cryptocurrencies.
Six “Ethereum Improvement Proposals” (EIP) are likely to be implemented in the fork. Moreover, the one that has already been officially announced is EIP-1559, which could drastically reduce gas fees by completely overhauling the fee structure.
Unlike the current structure, in which users bid for gas prices, the new structure will introduce a base fee for each block. In addition to this, it will delay the “Difficulty time bomb” in order to coincide with the release of ETH 2.0.
As for its price movement, ETH has deviated below the $2,000 support area, before reclaiming it and moving upwards. The next resistances are at $3,031 – $3,350.
Ethereum Classic (ETC)
Current Price: $59.86
Market Cap: $6.9 Billion
Market Cap Rank: #17
Ethereum Classic is a hard for of Ethereum, created as a result of a disagreement between Ethereum developers. More specifically, the disagreement was about whether the effects of a hack should be reverted or not. It was launched in July 2016. The native token is ETC.
ETC has broken out from a descending resistance line and is in the process of moving towards the $80 horizontal resistance area.
Current Price: $2.00
Market Cap: $200 Million
Market Cap Rank: #148
Swipe is a platform whose main aim is the connection between the fiat and cryptocurrency ecosystems. Its main products are: The Swipe debit card, the Swipe wallet and the native token, SXP.
The Swipechain testnet will release on July 6th and is a component of the Swipe network. A fork of THORChain, it enables interoperability, allowing cross-chain swaps. While it is not designed as a substitute for other existing chains such as Ethereum or BSC, it will complement cross-chain trading.
SXP has been hovering around the $1.65 horizontal support area since May 24. Technical indicators are showing some bullish signs in the form of multiple bullish divergences. The closest resistances are between $3.08-$3.62.
Current Price: $4.28
Market Cap: $274 Million
Market Cap Rank: #124
Kava.io is a DeFi lending platform that allows its users to lend, invest and earn. Unlike other lending platforms, KAVA provides support for cross-chain assets. In addition to this, users of the platform can stake their tokens and earn rewards directly from the platform.
The Kava Swap Incentivized Testnet will launch on July 12. It will be a testnet that will incentivize users to test its functionality. The first version of the test net will employ numerous new features, such as different Governance parameters, swap fees and rewards for delegation.
KAVA has been trading inside a descending parallel channel since April 6. It is currently right at its resistance line, making its fourth breakout attempt (red icons).
Technical indicators are bullish, supporting the possibility that it will be successful in doing so. The next closest resistance is at $7.25.
THETA is a blockchain whose main purpose is video streaming. It functions as a decentralized network, where users share computing resources. Its native token is THETA, used…
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