red 
Contents:
Bitcoin and the altcoin market as a whole have started to recover after a period of consolidation following the April 2024 Bitcoin Semi-Anniversary. Therefore, many investors are looking for the next cryptocurrency that is poised for significant growth, especially when the market has not yet reached its peak.
Several coins are poised for significant growth this month and throughout the year. Here are the top cryptos to consider buying in July.
#1 Bitcoin (BTC)
Bitcoin, launched by the mysterious Satoshi Nakamoto in 2009, is widely considered to be the first crypto. It is a decentralized digital currency that can be bought, sold and exchanged without an intermediary such as a bank. It is now widely accepted as a viable investment option and mode of exchange, i.e. currency and store of value.
Being one of the first cryptos, Bitcoin has always been in the headlines for its price ups and downs. Although the coin dipped below $60,000 later in June, as the new month began, the crypto community showed optimism. Do you want to know what are the main reasons for this optimism? Click here.
Why Choose Bitcoin?
Despite the volatility, Bitcoin’s resilience in holding above $60,000 underscores its stable presence in the market. Government moves, such as the US handing over $240 million worth of confiscated Bitcoin and Germany selling tens of millions, significantly affect its price. Despite this selloff, Bitcoin remains strong.
Additionally, the collapsed Mt. With the upcoming distribution of $9 billion in Bitcoin from the Gox exchange, the dynamics of the Bitcoin market continue to evolve. These factors show the importance and potential of Bitcoin in the financial world.
Buy Bitcoin on WazirX here.
Relatable Read: How to buy Bitcoin (BTC) in India? [2024]
Kaspa No. 2 (KAS)
Kaspa aims to address ongoing challenges related to the scalability and speed of decentralized transactions. Traditional blockchains often face issues such as network congestion when they scale, leading to slower transaction processing times and higher fees. Kaspa introduces innovative solutions to address these challenges by fundamentally reshaping blockchain functionality. One of its key innovations is the GhostDAG protocol, which includes a new algorithm that allows parallel transaction processing instead of the traditional sequential approach. This approach significantly increases blockchain power and transaction throughput, enabling instant transactions at a fraction of the conventional cost.
Why choose Kaspa?
Kaspa emerged as the cryptocurrency’s top performer last week, rising 19.5% against the US dollar. This increase was largely due to Marathon Digital’s September 2023 announcement of Kaspa mining operations.
Marathon has acquired 60 Kaspa mining hashes, including Bitmain’s KS3, KS5 and KS5 Pro miners. Only half of these miners are currently operational, but the company expects to control 16% of Kaspa’s global hashrate when fully deployed. Marathon praised Kaspa’s fair start, advanced technology and market strength, emphasizing portfolio diversification as a key factor in their investment.
Shop at Kaspa WazirX here.
Relatable Read: How to buy Kaspa (KAS) in India? [2024]
#3 Toncoin (TON)
Toncoin, commonly referred to as TON, serves as the native digital currency for the decentralized Layer-1 blockchain, which originated in 2018 from the efforts of popular messaging platform Telegram. Initially launched as the Telegram Open Network, the project underwent a merger. transformation when Telegram withdrew from its participation. Subsequently, the TON Foundation, an enthusiastic and autonomous community, took the lead, rebranding the initiative as The Open Web. This network’s native cryptocurrency, Toncoin (TON), was formerly known as Gram.
Why choose Toncoin?
Toncoin is gaining significant attention as Pantera Capital is actively raising capital for a Toncoin-focused fund, seeking a minimum of $250,000 from each investor. Pantera Capital’s excitement is evident as their investment in Toncoin is the largest ever. Partner Ryan Barney highlights Toncoin’s huge user base, scalable infrastructure, thriving ecosystem and native stablecoin transactions as key strengths. The success of mini-apps like Hamster Kombat and Yescoin on Telegram and their planned token launch on the TON Blockchain further highlight Toncoin’s growth potential.
Buy Toncoin on WazirX here.
Relatable Read: How to buy Toncoin (TON) in India? [2024]
#4 Solana (SOL)
Founded in 2017 as an open source project, Solana is a Layer-1 blockchain platform designed to host decentralized, scalable applications. SOL, the crypto that runs on the Solana blockchain, is up 12,000% in 2021. It has a market capitalization of over $79,565,041,623 and ranks 5th in the list of largest cryptos.
Solana is a Proof-of-Stake (PoS) blockchain that uses another consensus mechanism, Proof-of-History (PoH), in conjunction with PoS. PoH consensus is a proof to verify the order and time passage between cases. It also encodes the unreliable passage of time in the log.
Why choose Solana?
Two major asset management firms, VanEck and 21Shares, have applied to launch a Solana ETF in the US with the aim of listing on the CBOE BZX exchange. 21Shares plans to use Coinbase as a custodian, with funds held in segregated wallets on the Solana blockchain. While the ETF will not participate in SOL due to regulatory concerns, 21Shares already offers a SOL-backed ETP in Europe. Despite regulatory challenges in the US, these developments highlight Solana’s growing institutional interest and potential for significant market impact.
Shop Solana at WazirX here.
Relatable Read: How to buy Solana (SOL) in India? [2024]
#5 Ethereum (ETH)
Ethereum is an open source, decentralized blockchain platform that allows you to build and execute smart contracts. Vitalik Buterin first proposed it in late 2013 and finally launched in 2015. It also serves as a platform for developers to build Decentralized Applications (DApps) and deploy smart contracts, which are self-executing contracts with predefined rules and conditions.
ETH is the native token of the Ethereum network, used to reward participants for computational effort in executing smart contracts and as a means of transferring value in the Ethereum ecosystem.
Why Choose Ethereum?
With Ethereum ETFs soon to launch in the US, ETH stands out as a key crypto asset to watch. Anticipation of SEC approval for the 19b-4 filings led to a rally that pushed ETH to $3,900. ETH is currently up 21.5% against the US dollar in the last 30 days. Despite stabilizing between $3,700 and $3,850, market reaction to the ETF launch will be crucial. Analysts predict lower demand for Ethereum ETFs compared to Bitcoin, citing Bitcoin’s first-mover advantage and lack of staking rewards for ETF holders.
Buy Ethereum on WazirX here.
Relatable Read: How to buy Ethereum (ETH) in India? [2024]
Disclaimer: Cryptocurrency is not legal tender and is currently unregulated. Please ensure that you carry out a sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information presented in this section does not represent any investment advice or the official position of WazirX. WazirX reserves the right, at its sole discretion, to modify or amend this blog post at any time and for any reason without prior notice.
