The crypto market is facing many difficulties, however a lot of investors consider this as a good opportunity to buy cryptocurrencies at the cheap price. Expected to explode when the market recovers, here are 3 altcoins worth buying in July 2022. Note that these information is not investment advice, you should do your own research and reach out to financial advisors before making any investment decisions.
Cardano (ADA)
Cardano is still a very important crypto project even though its value has dropped. The Cardano blockchain’s testnet has completed the Vasil hark fork that will increase the speeds in block creation and improve scalability for decentralized applications (DApps) on the Cardano network. Let’s think about lending and new protocols that need large data storages. Those DApps can now be built on the platform, and this will bring a lot of value to the Cardano blockchain.
In about a month, Cardano will launch its mainnet – the final version offering full features. A lot of bugs will also be fixed to improve user experience. ADA price is currently set at the $0.45 support but its price is expected to recover above $0.50 and even higher thereafter.
Ethereum (ETH)
Ethereum is the second largest cryptocurrency by market cap. Its price fell from an all-time high of $4,900 to a bottom of $1,000, losing 80% of its value. However, Ether once lost 95% of its value in 2018, then continued to rise to an all-time high price of $4,900. So, this could be a good time to buy ETH.
Ethereum is transitioning from the energy-hungry proof-of-work (PoW) consensus mechanism to the leaner, greener proof-of-stake (PoS) system. Once the transition is complete, the investors will return and Ethereum’s value will once again be boosted by ETH 2.0. Ethereum’s price held steady near $1,100, up 3% in the last 24 hours.
Binance Coin (BNB)
Binance is the largest cryptocurrency exchange in the world and still doing very well amid the current bear market. Binance generated more than $20 billion of revenue in 2021, ranked 175th on Fortune Global 500 list. Binance focuses on investing in small companies that have fallen behind due to crypto crash. The amount of Bitcoins stored in their cold wallets is also impressive. In 2019, Binance held 250,000 Bitcoins but now the company is holding 600,000 Bitcoins, in just 3 years!
Users of many other crypto exchanges are facing a lot of risks due to liquidity issues. Most of them are turning to Binance because of the benefits and features it offers. The daily trading volume on Binance is about 11 billion USD, while all 3 exchanges Coinbase, KuCoin and FTX combined, is only about 4.5 billion USD. BNB price has now rebounded and is currently trading at around $240.
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