Top 5 Cryptocurrencies To Watch in July

Historically, the month of July is synonymous with significant gains, and this year could well confirm this trend. For savvy investors, it’s the perfect time to reassess their portfolios and seize market opportunities. Five cryptos stand out particularly for their growth potential and recent developments surrounding them. Whether you are a seasoned investor or new to the world of cryptos, these five assets deserve your full attention. Discover why Bitcoin, Solana, Ethereum, BNB, and XRP are the cryptocurrencies to watch closely in July.

1. Bitcoin (BTC)

July promises to be a strategic month for Bitcoin, the most iconic crypto on the market. Historically, this month has often marked significant gains for Bitcoin. Since 2013, July has been favorable, with an average increase of 7.98% and a median gain of 9.6%. These historical performances are no coincidences but reflect a robust trend that could well repeat this year.

Despite a recent drop, where Bitcoin fell below the $60,000 mark, several technical indicators suggest an imminent recovery. The Pi Cycle Top indicator, for example, shows that Bitcoin’s price has fallen below its market bottom for the first time in 2024, signaling a possible trend reversal. Furthermore, analysis of past market cycles and price patterns indicates a high probability of significant gains for Bitcoin in July.

Institutional investors, despite recent massive outflows, could regain confidence thanks to positive market signals. CoinGlass analysts estimate that if the historical trend persists, Bitcoin could see an increase of 10% to 25% by the end of July.

2. Solana (SOL)

Solana is emerging as one of the most promising cryptos to watch in July. Known for its speed and scalability, Solana has recently attracted institutional investors’ attention. VanEck, a giant in asset management, announced filing an application with the SEC to launch an ETF based on Solana, which had an immediate and significant market impact. Following this news, SOL’s value jumped by 8.1% and this could well continue.

This initiative by VanEck is not isolated. In Canada, asset manager 3iQ has also filed an application to list a Solana ETF on the Toronto Stock Exchange. If approved, this product will offer investors direct exposure to Solana as well as attractive staking returns estimated between 6% and 8%. This dual recognition in North America highlights Solana’s growing credibility as a value crypto.

VanEck’s proposed ETF would mark a first in the US crypto sector, and this advance could pave the way for even broader institutional adoption of Solana. The fact that respected companies in the asset management field choose Solana for their new investment products reinforces the legitimacy and appeal of this blockchain. This positive dynamic is likely to attract more institutional investors, increasing Solana’s adoption and use in financial markets.

3. Ethereum (ETH)

Ethereum positions itself as another must-watch crypto in July. With the second-largest market capitalization, Ethereum has always been at the heart of innovation in cryptos, and recent news further bolsters its potential.

VanEck, after the success of its previous ETFs, has filed Form 8-A for its spot Ethereum ETF, a key step towards the launch of this highly anticipated product. The announcement of this filing coincided with a dramatic increase in activity on the Ethereum network, marking a 56% rise in the number of active addresses in just one week. This explosion of activity is often a precursor to a major event, and in this case, it suggests fervent anticipation among investors regarding the approval of Ethereum ETFs.

Rising interest in Ethereum ETFs is also fueled by major players like BlackRock, who have filed similar applications. This institutional momentum indicates increased confidence in Ethereum, not only as a technological platform but also as a viable investment asset. Experts predict that approval of these ETFs could transform the crypto investment landscape, attracting a new wave of institutional capital.

Currently, ETH’s price remains in a stable range, but analysts are optimistic about an upcoming rise. Some estimate that ETH could reach $4,000 with the imminent approval of ETFs. This anticipation, coupled with increased network activity, positions Ethereum as an exceptional investment opportunity for July.

4. Binance Coin (BNB)

Binance Coin (BNB) continues to stand out as a solid investment option in the crypto ecosystem. Launched in 2017, this crypto offers significant advantages to its holders on the Binance platform. By holding BNB, users benefit from reduced transaction fees, access to exclusive Launchpad and Launchpool programs, and cashback on purchases made with the Binance Visa card. These incentives strengthen demand for BNB and increase its utility within the Binance ecosystem.

One of the recent initiatives that has sparked investor interest is Binance’s HODLer Airdrops program. This program rewards users who hold their BNB in Binance’s Simple Earn lending products. The tokens distributed come from projects with a large circulating supply and will soon be listed on Binance, offering additional incentives to hold BNB. This initiative aims to encourage the retention of BNB and proactively reward users.

In conclusion, Binance Coin is well-positioned to offer interesting investment opportunities in July. With its multiple utilities on the Binance platform, its essential role in the BNB Chain, and innovative programs like the HODLer Airdrops, BNB remains a strategic choice for investors looking to diversify their portfolio with a high-growth potential asset.

5. XRP (Ripple)

XRP, the native crypto of the Ripple platform, stands out for its ability to offer fast and low-cost transactions, making it an attractive option for various applications, including remittances and cross-border payments. Launched in 2012, XRP continues to evolve and adapt to market needs, thus consolidating its position among the leading cryptocurrencies.

One of the primary reasons to consider investing in XRP this month is Ripple’s recent announcement of the launch of a USD-backed stablecoin on the XRP Ledger. This new stablecoin, fully supported by USD deposits, short-term US Treasury bills, and other equivalents in cash, aims to enhance user transparency and confidence. Ripple plans to publish monthly attestations by a third-party accounting firm to ensure that the stablecoin is fully backed, reassuring investors and users about its stability. David Schwartz, Ripple’s CTO and one of the original architects of the XRP Ledger, emphasized that this stablecoin could be a “gamechanger” for users and developers.

Ripple has also implemented products such as On-Demand Liquidity (ODL), which use XRP to facilitate effective and economical cross-border money transfers. The growing adoption of these solutions by financial institutions and companies worldwide increases the demand for XRP and contributes to its valuation.

These five cryptocurrencies offer diverse yet complementary prospects, allowing investors to diversify their portfolio while maximizing their chances of achieving significant gains. By closely monitoring these assets and staying informed about market developments, you can approach July with confidence and anticipation.