Investing in the broad cryptocurrency market can be challenging at first, given that there are over 4000 coins in existence. Most new traders go with the most popular token at that moment, but there is much more to consider when trading crypto. For instance, you can evaluate the technology behind the token, the adoption of the token for use in the real world, among other factors.
If July is the month when you finally decide to venture into the crypto market or add to your investment, here are the best altcoins that you should consider. However, before making a choice, remember that the crypto market is highly volatile, and price fluctuations are inevitable.
Dogecoin
We start the list with dogecoin. Dogecoin is one of the most popular tokens this year, and you should consider it as part of your investment. The token is relatively cheap, given that it trades at under $1, meaning that you can buy more tokens with less money.
What makes dogecoin a good investment is strong backing from its community. Furthermore, its developers are improving its network to achieve higher speeds, and value might appreciate once that happens. Dogecoin is also supported by many exchanges, giving it higher liquidity.
COMP
The other cryptocurrency that you also need to consider is COMP from Compound labs. One feature that makes COMP a top token in this list is its revolutionary lending and borrowing capabilities. Users of the network earn interest after making pool deposits.
What makes COMP a great investment this week is because its price has gained by almost 45%, and it is still trading at the green zone, unlike other altcoins. Besides, the launch of Compound Treasury last week was grand for the token.
AAVE
The other popular DeFi token in the crypto space is AAVE, and it makes for a great investment choice in July. One of AAVE’s selling points is that applications in the real world make it competitive in the growing crypto lending market.
It is one of the largest DeFi coins in terms of market capitalization. The year 2021 has been bullish for the token, but its values declined shortly after, just like the rest of the crypto market.
SHIB
Dog tokens have been having a remarkable year; hence diversifying your portfolio with these coins is an ideal strategy. Shiba, just like dogecoin, is a dog token that has also made significant gains this year.
Besides, Shiba has a low price, making it a viable investment for those on a low budget who want to hold many tokens. The coin’s technology is also growing, which means that a price rally might be reported in future.
DeFi Coin
One of the tokens whose popularity is increasing by the day is DeFi Coin. The token was recently listed at the Vindax centralized exchange, where its value increased from $0.20 to $0.54, which is a 170% increase.
In addition, DeFi Coin has gained by around 1442% since Over-the-Counter trading when its value shot from $0.035 to $0.54. These metrics show that the coin is a great investment choice in July.
Ethereum
One of the tokens that will always make a great investment is Ethereum. First, it is available in major exchanges, and it is one of the safest choices for those investing because of technology.
What makes Ethereum a top choice for those investing in July is the July London Fork update expected to happen towards the end of the month. This update will draw more DeFi developers towards Ethereum and boost the token’s value.
CAKE
You cannot talk about DeFi without talking about PancakeSwap and its native token, CAKE. CAKE is one of the must-have tokens for those who want to venture into DeFi because of the potential of its underlying network.
PancakeSwap is built on Binance Smart Chain; hence those who invest here can be assured of access to a wide range of crypto trading pairs. Even the newest crypto is available on Binance Smart Chain.
Maker
The other coin that makes a great investment in the crypto market this July is Maker. It is an excellent investment for those who want to become part of the MakerDAO ecosystem because those holding the token gain voting rights.
MKR’s market cap is also one of the largest, making it a safe and viable investment. Increased adoption for MakerDAO’s ecosystem also makes it a great investment choice for traders.
Uniswap
If you want to invest in a decentralized exchange this July, then Uniswap (UNI) is the token for you. Even if it belongs to the largest DEX exchange, the token is quite affordable, given that at the time of writing, it is trading at $19.50.
The other factor that makes UNI a significant investment is those holders get incentives and discounts on Uniswap’s protocol. Hence, you will get voting rights to discounts and incentives on the Uniswap ecosystem.
LINK
LINK will always be a good investment for those looking for tokens in the DeFi market. It has a wide array of uses because it links real-world technologies into the blockchain. With the popularity of DeFi expected to grow, LINK makes a viable investment.
Link launched in 2019 and has grown in popularity because of the Chainlink ecosystem, and its growth is expected to continue as DeFi becomes more mainstream. At the time of writing, LINK is trading at $18.20.
In summary
The above tokens are some of the best in the market. The crypto market volatility makes it a precarious venture, but you can diversify your investment by making your choices more carefully. Even though there is no sure way of escaping this volatility, investing in more than one coin will ensure your losses are reduced when the price of one token decreases.
Another thing to consider when investing in cryptocurrencies is the crypto exchange, where you will trade and buy the tokens. Look at the security and reliability of the exchange.
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