- Last month was a challenging month for crypto space, as the market value fell by 33%.
- A Youtuber identifies five best tokens to purchase in July.
- They are: SOL, AVAX, BNB, TRX, and ATOM.
Since the beginning of the year, the crypto market has witnessed highs and lows in its volume. As a matter of fact, cryptocurrencies are erratic while this year has been a blood red for the whole market. The industry is still experiencing a bearish rally while users expect to recover but the market is not yet ready to pullback.
Last month was another challenging month for the crypto space, as the market value fell by 33%, from $1.31 trillion to $880 billion. However, this depicts that the institutional investors are not happy about the current market status. Although, a Youtuber came up with the top 5 cryptocurrencies to purchase in July for gains in the future.
Tokens To Buy and Hold
For long-term investors, the first choice of cryptocurrencies will be Solana (SOL). It is one of the top 10 crypto-assets by market cap value. Moreover, it is independent of its structure and constraints of other networks as it has its own blockchain. SOL is one of the rivals of Ethereum with its dApps and DeFi products, thus it has more chances of gaining more as time passes.
The next token is Avalanche (AVAX), which has soared five times since its launch. AVAX entered the market in 2020 for $4 and reached its all-time high (ATH) in November 2021 at $144. The Avalanche ecosystem, which is maintained by Ava Labs, has excellent intentions for integrating network updates. Moreover, Ava labs have a vision of developing a brand new fusion called subnets to reality. The complete launch of their vision will support product gains paving the way for a hike in price.
Following that, is the BNB coin which is the native token of largest crypto exchange, Binance. BNB is currently the third-largest crypto by market cap excluding stablecoins. Thus, it is a great challenger in the market as Binance has several new implementations and projects with new features. The fourth token is Tron (TRX), which has been in the market since 2017. According to the Youtuber, Tron has a mission to bypass the world’s centralized middlemen like Spotify, Youtube, and Apple Appstore. These are to be achieved by paying content creators directly for their intellectual labor in TRX tokens.
However, the final token is Cosmos (ATOM), which aims to address a few core issues of cryptocurrencies. It includes the fragmentation of numerous blockchains, the difficulty of scaling, and the complexity of software development. Though it is a young asset, the mission of the ecosystem and its real use-case solutions will help in reaching highs in near future. Furthermore, the above-mentioned tokens have their own vision and mission to invest in right now for future success.
Disclaimer: The opinion expressed in this article is solely the author. It is not interpreted as investment advice.