In June, the rally in the cryptomarket was replaced with the correction, and most currencies did not show significant growth. Bitcoin is “squeezed” in the $ 9,000-10,000 corridor, its growth since the beginning of the year being + 27%, which is relatively modest.
Some altcoins are in greater plus on this indicator today, but we will highlight only those that also have clear fundamental advantages. The growth of quotations since the beginning of the year is indicated in brackets:
Ether (ETH, + 75%). This cryptocurrency is the second-largest by capitalization after BTC, but with greater volatility. Recently, following BTC, it has taken an important step towards state recognition: the first legal deliverable ETH futures available to large players appeared on the ErisX exchange.
ETH is a great long-term investment vehicle. A coin with a wide functionality and its own rather successful infrastructure has every chance to bring its owners a significant profit, because the price of ether at the time of its peak reached $ 1500.
Stellar (XLM, + 48%). It is a decentralized analogue of the Ripple (XRP) payment system, which long was far behind it, but is now catching up. Since the beginning of the year, the XLM token has risen in price by one and a half times, while XRP has fallen in price by 8%. The main reason for the decline of the investor’s interest in XRP is the system’s linkage to the private company Ripple Inc.
Since 2018, it has been accompanied with scandals, and since 2019 there have been persecutions of corporate crypto projects in the world (closure of Libra and TON, lawsuits against Tether and Ripple itself). This is shifting the investors’ interest towards decentralized systems like Stellar (XLM).
Tezos (XTZ, + 76%). This PoS currency is one of the leaders in exchange staking. On the Binance exchange, XTZ brings passive yield of 6-7% per annum. At the same time, compared to the closest PoS competitors (EOS, Cardano), XTZ stands out for a relatively low concentration of capital among the richest holders.
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For those who like to keep funds in the good old American dollar, USDT, the most popular stable coin in the crypto market, may be suitable. Savings in USDT do not need to be kept at home in a safe or under a mattress, they will easily get on a small flash drive, the contents of which only few ordinary robbers can guess. USDT is also ideal for entrepreneurs doing business with foreign counterparties: it can be used to quickly conduct cross-border transactions without the need to go to the bank.
It is in July that the restrictive measures imposed in connection with the pandemic are expected to be lifted in almost all countries, and the global economy will begin to gradually recover, and with it the cryptocurrency market will revive.