The 12 best cryptocurrencies to invest in July 2024

A strategic analysis for investors

The cryptocurrency market continues to evolve rapidly, creating uncertainty among investors about whether it is time to secure profits or increase positions to take advantage of potential price recoveries.

Although the crypto sector has shown signs of recovery after the previous bear market, each negative cycle tends to eliminate weak projects. Therefore, it is essential to select quality projects with a higher likelihood of survival and future growth.

This analysis examines the top 200 cryptocurrencies considering key factors such as liquidity, technological innovation, sector leadership, and token economics, providing a selection of twelve projects with the highest current investment potential.

Cryptocurrencies with the Best Investment Potential - July 2024

1. Bitcoin - Decentralized peer-to-peer cryptocurrency
2. Toncoin - Blockchain integrated with the Telegram platform
3. Cardano - Main competitor of Ethereum
4. Maker - Key project in decentralized finance
5. Ethereum - Main smart contract platform
6. Solana - High-performance blockchain for smart contracts
7. Kaspa - Scalable blockchain based on BlockDAG architecture
8. BNB - The main cryptocurrency of the ecosystem of a prominent exchange platform
9. XRP - Efficient tool for digital exchanges
10. Uniswap - Largest decentralized exchange on Ethereum
11. Notcoin - Blockchain project TON derived from a popular clicker game
12. Shiba Inu - Second largest meme coin in the market

Detailed analysis of each project

1. Bitcoin

Technical Fundamentals: Bitcoin is a decentralized peer-to-peer digital currency proposed in 2008 and initiated in 2009 by Satoshi Nakamoto. It introduced blockchain technology, providing a completely decentralized and highly secure payment system through a proof-of-work mechanism.

Recent performance: Bitcoin has gained 22% against the US dollar in the last two weeks, driving the entire cryptocurrency market upwards. This increase coincides with a rise in political uncertainty in the United States.

Value Catalysts: The potential change in the U.S. regulatory landscape could significantly benefit Bitcoin, especially if there is a leadership change at the SEC, which would improve the regulatory environment for cryptocurrencies.

2. Toncoin

Technical Fundamentals: Toncoin is a blockchain project originally designed by the Telegram team and later developed by the community under the TON Foundation. Technically, it is a scalable blockchain with smart contract functionality and a proof-of-stake consensus mechanism.

Recent Performance: According to DeFi Llama, Toncoin is one of the fastest growing blockchain ecosystems, with a total value locked (TVL) that has reached 768 million dollars, up from 13 million at the beginning of the year.

Value Catalysts: The founder of Telegram, Paul Durov, recently announced the launch of an integrated decentralized app store and a Web3 browser, which will boost the TON ecosystem.

3. Cardano

Technical Fundamentals: Cardano is a decentralized blockchain platform founded by Ethereum co-founder Charles Hoskinson to provide secure and scalable infrastructure for smart contracts and decentralized applications. It uses a unique consensus mechanism called Ouroboros.

Recent Performance: ADA recorded a 26% increase between July 8 and July 16, showing strong growth potential following the Node 9.0 validation node software update.

Value Catalysts: The next hard fork update of Chang will introduce a decentralized governance mechanism, representing a significant advancement in the technological evolution of the project.

4. Maker

Technical Fundamentals: Maker is a decentralized financial protocol that operates on Ethereum and manages Dai, a decentralized stablecoin pegged to the US dollar. Users can use assets like ETH as collateral to create Dai.

Value Catalysts: MakerDAO has recently announced the Spark Tokenization Grand Prix, a public competition aimed at investing 1 billion dollars in real-world tokenized assets (RWA) through the Maker platform.

5. Ethereum

Technical fundamentals: Ethereum is a blockchain platform that supports smart contracts, allowing developers to create complex applications like decentralized lending protocols and non-fungible tokens (NFT).

Value Catalysts: The upcoming Ethereum ETF listing in the U.S. market positions ETH as one of the most promising cryptocurrency assets in the short term, with potential to generate significant bullish activity once it starts trading effectively.

6. Solana

Technical Fundamentals: Solana is a smart contract platform known for its unique architecture that allows processing thousands of transactions per second at an extremely low cost, combining a proof-of-history algorithm and a proof-of-stake consensus mechanism.

Value Catalysts: Asset managers VanEck and 21Shares have applied for the launch of spot ETFs for Solana in the United States, which could open new prospects for this cryptocurrency and significantly expand its investor base.

7. Kaspa

Technical Fundamentals: Kaspa is a decentralized project focused on high scalability and fast transactions. It uses BlockDAG technology instead of traditional blockchain, allowing for faster block confirmations.

Recent performance: Kaspa has had an excellent week, gaining 19.5% against the US dollar, mainly driven by the announcement from the mining company Marathon Digital that it has been mining Kaspa since September 2023.

8. BNB

Technical Fundamentals: BNB is a token launched in 2017 by a major cryptocurrency exchange platform. It provides holders with various benefits within the platform's ecosystem and serves as the native asset of its blockchain.

Value Catalysts: Recently, a program called "HODLer Airdrops" has been launched, designed to reward users who hold BNB in passive yield products, incentivizing long-term retention.

9. XRP

Technical Fundamentals: XRP is a cryptocurrency launched in 2012 and developed by David Schwartz, Jed McCaleb, and Arthur Britto. It offers extremely fast and low-cost transfers, particularly suitable for international remittances.

Value Catalysts: The recent announcement of the launch of a stablecoin linked to the US dollar on the XRP Ledger and Ethereum platforms should significantly increase the liquidity of the XRP Ledger ecosystem.

10. Uniswap

Technical Fundamentals: Uniswap is a decentralized exchange that implements the automated market maker model (AMM). This design allows for the direct exchange of different tokens on the blockchain without resorting to traditional order books.

Recent Performance: The UNI token has recorded a notable performance, with a price increase of 12% reaching a new multi-week high.

Value Catalysts: The recent integration with ZKsync allows its users to operate on this efficient layer 2 network of Ethereum, enhancing the user experience with faster and more cost-effective transactions.

11. Notcoin

Technical fundamentals: Notcoin originally emerged on Telegram as a simple clicker game. The team has launched a real token on the TON blockchain platform, called NOT, aimed at rewarding users for their activities in the ecosystem.

Value Catalysts: Notcoin has partnered with the DeFi project 1inch and the Sign project to provide a startup acceleration service called Triangle on the TON blockchain, expanding its utility within the ecosystem.

12. Shiba Inu

Technical Fundamentals: Shiba Inu is a meme cryptocurrency founded in 2020, inspired by Dogecoin and using the Shiba Inu dog breed as its brand identity.

Value Catalysts: The Shiba Inu project has raised 12 million dollars through the issuance of TREAT tokens, designed to function as a utility and governance token for the new blockchain of the ecosystem.

Considerations for Investors

Before investing in any of these cryptocurrencies, it is essential to conduct thorough research and consider factors such as market volatility, the project's fundamentals, and its real adoption.

Remember that selecting cryptocurrencies to invest in is just the first step. Equally important is choosing secure platforms to trade on and suitable solutions for the long-term storage of your digital assets.

To maximize security, consider transferring your cryptocurrencies to hardware wallets after acquiring them on regulated and reliable exchange platforms.