Cryptocurrencies can come to the fore for different reasons. While fraud and fluctuating price movements are negative examples, their high interest attracts the attention of investors. Newcomers to the markets, on the other hand, are searching for the best altcoin projects they can buy during the recovery period. We examine “4 altcoin projects that need to be invested now” by veteran crypto follower Jimmy Aki…
First place owner: Uniswap (UNI)
The analyst begins his list of must-buy cryptocurrencies with the decentralized trading platform Uniswap. Launched in 2018 and reaching $48 billion in the last April storm, UNI is the first name that comes to mind in the midst of DEXs. UNI also has the backing of institutional investors, and with this interest, the local token of the protocol, UNI, manages to reach an ATH of $44.92.
Also, UNI is slowly picking up its strength, despite losing more than 50% of its value in the big sale in May. At the current price of $22.53, the asset managed to gain 11.67% on the daily chart. This top performance makes UNI one of the cryptocurrencies to be purchased in July, according to the analyst. The platform is also attracting more attention with the well-known crypto data site Coinmarketcap, which provides automatic exchange via Uniswap API for users who visit its site. The analyst’s next name is a cryptocurrency beyond what was expected…
Leading cryptocurrency Bitcoin is also on the list
The analyst, who prefers the world’s oldest crypto money Bitcoin to the second rank of the list of cryptocurrencies to buy, states that despite the difficulties, BTC has performed well. At the same time, according to the analyst, BTC is the de facto head of its industry and gives direction to the market. The fact that it dominates 44% of the market and that ETFs are also included in the market for Bitcoin are also the biggest features that place the king of crypto in second place according to the analyst. In addition, the analyst interprets Bitcoin ETFs as follows…
Stating that the US Securities and Exchange Committee (SEC) is currently examining more than eight Bitcoin ETFs, the analyst stated that Canada received a lot of positive feedback from the public on this issue, and that a number of Bitcoin-focused investment firms also have ETFs. reports its approval. In the technical part of Bitcoin, time has been spent in the red zone for two months. However, stating that the situation has improved for BTC, the analyst adds that BTC has increased by 1.92% and is currently processing around $ 34,000. Finally, according to the analyst, as the price of crypto continues to rise, the greedy investor is not afraid to give the green light to capitalize on buying opportunities at the lows.
The next altcoin is Aave (AAVE), a DeFi project
Choosing the decentralized finance loan protocol Aave for the third row, the analyst states that users prefer the platform to earn interest. It is also possible to earn passive income by participating in liquidity pools on the platform. For this reason, the analyst states that he prefers Aave in line with the needs of different investors. The analyst’s technical comment is as follows….
15% of Aave in the technical part. We can start by saying that it leads the DeFi space with a market dominance of 67. While AAVE’s native token has seen more adequate days, the DeFi token is currently trading at $321.65, up 16.90%. Stating that an uptrend is still possible with the 20 MA trading below the reinforcement at $242.87, the analyst adds that it is on the rise on the RSI and stops at 60.26 on the daily chart. Finally, the protocol also targets institutional investment in the DeFi field. According to founder Stan Kulechov, Aave will launch private loan markets for institutional clients later this month.
The fourth name of the list is Compound Finance (COMP)
Just like Aave, Compound Finance allows users to earn passive income from the liquidity pools of the protocol. Through the cTokens given in exchange for deposits, investors can get secured loans from any pool of their choice. The LTV rate is dynamic and depends on the collateral asset. However, the current LTV is between 50% and 75%. If it falls below the expected rate, users may face automatic liquidation.
On the other hand, altcoin COMP had a great 2021, hitting an all-time high of 854.48 days before its crash in May. Despite losing 50% of its cost afterward, COMP has been trying to recover over the past month. However, as the analyst noted, for most of June, the DeFi token reached the $450 resistance level, which was not entirely successful. However, as the market gains momentum, the picture turns green again. COMP, 17% in the last 24 hours. It managed to climb 16 to $503.49. COMP also, Cryptocoin. com, it is making progress on the path of institutional acceptance with the protocol that launched an independent company called “COMP Treasury”. This company will focus on enabling the next generation of financial service providers to access digital assets directly without going to a third party.
Binance Coin (BNB) is the last most useful altcoin project on the list
Last on the analyst’s list of cryptocurrencies to buy, the official currency of the Binance cryptocurrency exchange is BNB. Stating that the asset has a lot of potential apart from trading discounts on the Binance crypto exchange, the analyst adds that BNB made ATH with $ 650 in the April boom. However, the price is currently trading well below its top. At the time of writing, BNB may renew its peak as the Binance platform offers more services, compared to $311.26 with an increase of 2.98% on the daily chart. BNB, with the chairman crypto exchange Binance behind it, is a potential asset according to the analyst.
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