You might be wondering what the best cryptocurrency to buy in July is? Could it be one of the top digital assets like Bitcoin or Ethereum? However, newer crypto assets are also catching the eye of investors. Aside from the two large-cap cryptocurrencies, small-cap virtual currencies are also posting remarkable returns. This article will consider some of the best cryptocurrency to buy this July for phenomenal growth.
1. DeFi Coins (DEFC)
Kicking off our countdown of the best cryptocurrency to buy list is decentralized crypto protocol DeFi Coins. Like its name denotes, the blockchain platform focuses on decentralized finance (DeFi) space. However, it is not looking to topple any large-cap digital asset or address the challenges other crypto protocols face.
According to its whitepaper, DeFi Coins’ core mission is to educate crypto investors about the intrinsic benefits of investing in DeFi and non-fungible tokens (NFTs).
Aside from this, it also serves as a decentralized liquidity pool through which investors may deposit liquidity with its ERC-20 token DEFC.
DEFC made its first public appearance on June 30 on the centralized crypto exchange VinDax, and it is already a household name. In the space of three weeks, the digital token has surged over 300% from its open day trade of $0.025. It currently trades at $0.6293, according to crypto data aggregator Coingecko where it recently listed.
Aside from Coingecko and Vindax, DEFC is also listed on the popular Binance-owned decentralized exchange (DEX) platform PancakeSwap. A listing on the world’s fourth-largest crypto exchange BitMArt is also coming up on July 18. Then from July 19, DEFC will be tradable with popular stablecoin USDT.
DeFi Coins’ meteoric rise has been a result of strategic steps. The founding team will be launching a DeFi Coin App meant to educate investors on DeFi projects. This is to attract more investment in the DeFi space.
The project is attracting investors’ attention with its one-week liquidity pool up 1,445.69%.
2. Binance Coin (BNB)
Binance Coin is one of the best cryptocurrency to buy, given its affiliation to the Binance crypto trading platform. Launched in July 2017, BNB is the proprietary coin of the world’s largest crypto exchange by trading volume.
Initially meant to lower transaction fees on the Bitcoin exchange, BNB has become a major digital token on the Binance exchange and all its subsidiary exchanges. It is used in the platform’s DEX PancakeSwap, and many investors are looking to snap up available BNB tokens.
Even though it is not truly decentralized like Bitcoin, BNB commands a sizable chunk of the market. This has been because of the strategy the Binance development team has adopted.
Just like Bitcoin, BNB has a hard-cap limit of only 200 million BNB tokens that will ever be in circulation. Meanwhile, the Binance exchange also withdraws a certain amount of BNB from open circulation through the ‘token burning’ mechanism. The idea, which is meant to reduce the supply of BNB, enables the BEP-20 token to gain value due to scarcity.
This has seen BNB surge from just $37.41 on Jan 1. to a record $650, rising more than 5,000% during the crypto boom in the first half of the year.
Even though the May crypto market crash has since halved its value, BNB is still one of the best cryptocurrency to buy for the long term.
This is because the Binance exchange is set for more growth given the growth of DeFi and its unique position with PancakeSwap.
3. NEO (NEO)
Another best cryptocurrency to buy is blockchain platform NEO. Founded originally in 2014 as AntShares, NEO is a blockchain platform that enables the development of digital assets and the deployment of smart contracts.
Much like popular decentralized applications (dapps) platform Ethereum, NEO blockchain automates the management of digital assets with smart contracts with the vision of building a decentralized smart economy system.
To this end, NEO combines digital assets with digital identity and smart contracts to power its smart economy.
However, the NEO blockchain is highly dependent on regulatory compliance. This is due to its digital identity feature. Every user on the NEO network must possess a unique digital identity that needs to be verified.
Validation nodes on the network also have their unique identifier before they validate transactions on the NEO platform.
The NEO blockchain uses two native tokens, namely NEO and GAS. Its smart contracts can be written across several mainstream programming languages, making it easy for developers to contribute to the ecosystem.
Most users are familiar with the NEO token, given its unique role in the blockchain platform. Coming into the year at $14.5 after dropping from a record $170.42 on Jan. 2018, NEO has surged more than 3,000% this year. It rose to a 52-week high of $116.45 on May 8 before the market crash.
Even though it has since lost 50% of its value, NEO is still one of the best cryptocurrency to buy, given its appeal to corporate bodies.
4. Chainlink (LINK)
Chainlink’s LINK native token is one of the best cryptocurrency to buy because of its parabolic rise in 2021.
Founded in 2017, Chainlink is a blockchain platform that allows smart contracts globally to connect on its abstraction layer.
Using a decentralized oracle network enables blockchains to communicate securely with external data feeds, events, and payment methods and provide off-chain information required by complex smart contracts to validate the digital agreement.
Used by popular DeFi protocols like Aave, Synthetix, yEarn, and several others, Chainlink uses a large collection of node operators to power a wide variety of decentralized price feed oracle networks for users of these platforms to know the present value of a digital asset.
Its LINK native token is used in rewarding node operators for running critical data infrastructure and is used for governance and payment settlement.
The growing use case for oracle feeds has seen LINK value skyrocket from $13.57 on Jan 4. to a record $48.61 on May 8. Even though the bears have overrun it, LINK is still one of the best cryptocurrency to buy.
5. UniSwap (UNI)
Last on our list of best cryptocurrency to buy list is the Ethereum-based protocol UniSwap. The popular decentralized trading platform facilitates automated trading of DeFi tokens on its platform.
An automated market maker (AMM), UniSwap enables users to get the best prices for their trades by compiling prices from multiple sources. This limits risk and reduces costs for both the liquidity provider and others.
According to the development team, UniSwap wants to make automated token trading open to all users while improving the trading experience.
UniSwap is one of the most popular DEX platforms, thanks to the boom of the DeFi space in the last year. It closes an average of $20 billion in monthly volume and is the market leader in its niche.
UniSwap uses the UNI token for its governance and settlement purposes. The UNI token has been one of the best-performing digital tokens so far this year. It surged to an all-time high (ATH) of $44.69 on May 3 before market pressure.
Even though it is trading at $19.38 currently, UNI is still one of the best cryptocurrency for long-term investors.
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