The cryptocurrency market has always been prone to sudden changes, with the entire outlook of the market changing at the drop of a hat. Altcoins that have been surging one month could be staring down the barrel the next month, and vice versa.
If you are looking to invest in the Crypto market, it is imperative to be up-to-date with all market scenarios and predictions. With many options to choose from, we've made it a little easier with a list of 7 Altcoins to watch this month.
You can choose several options; some Altcoins have been around for a long time, while others are new but have significant potential.
Top 7 Altcoins To Watch This Month
So let's take a look at the 7 Altcoins that have the potential for significant growth this month.
- Ethereum (ETH)
- Ripple (XRP)
- Litecoin (LTC)
- Cardano (ADA)
- Stellar Lumens (XLM)
- Ethereum Classic (ETC)
- Binance Coin (BNB)
1. Ethereum (ETH)
Ethereum started 2021 on a very positive note, with its price increasing exponentially since the start of the year. There have been some volatility and price corrections, but the overall trend has been bullish. So bullish is ETH at the moment that it hit its highest ever price on May 12th, when the price of the Altcoin touched $4,362.
Ethereum, for the most part of 2021, has been one of the top-performing cryptocurrencies, and it will not surprise anyone if the price of ETH goes even higher. ETH's stellar performance can be attributed to Ethereum's burgeoning popularity in the DeFi space. The platform is often referred to as the "king of smart contracts, dApps, and ERC-20 tokens."
With DeFi gaining popularity in the mainstream financial market, platforms like Ethereum have enjoyed a knock-on effect, surging in popularity as well. So what should we expect from ETH in August? After hitting its highest ever price in May, the Altcoin encountered resistance, and its value fell back below the $2500 mark.
That does not mean ETH is in retreat. Far from it, the coin is expected to be bullish for the foreseeable future, and with increasing institutional interest, the price is bound to rally again.
Currently, ETH is trading at around $2,290, it would be a good idea to buy and hold the digital asset.
There are several predictions for the price of ETH, with some predictions stating that ETH could break past the $4000 mark again. Previsioni Bitcoin has predicted that ETH could go past the $4,815 mark in August.
2. Ripple (XRP)
XRP is another Altcoin that is on an upward trajectory, with its price seeing a sudden surge towards the end of November 2020 but then fell due to significant issues with the SEC. However, Ripple has rebounded thanks in part to the likelihood that it would win the case against the SEC. That's not the only thing driving Altcoin's price, though.
Ripple's price recovered in the new year, although it still couldn't go past the $0.32 mark until the end of January, when the price of the coin surged to $0.70, thanks to a crowd pump. Ripple has several plans lined up for 2021, the effects of which reflect on the price of XRP.
Ripple's partnerships with institutions like HSBC Holdings, JP Morgan, Mizuho Financial Group, MoneyGram, and Banco Santander are a game-changer for Altcoin.
Even though XRP encountered significant bearish sentiment at the start of 2021, analysts expect it to recover and recoup its losses. Ripple's price was on the up for most of February, pointing to signs that Altcoin is well on the way to recovery.
Ripple to broke the $1 mark in 2021. If institutional interest in XRP continues to increase, we could see the currency's value surge in the near future.
There are several bullish predictions for Ripple, with one such prediction from City Telegraph stating that XRP's price could reach a potential high of $1.26 this year.
Check Out: Ripple Price Prediction
3. Litecoin (LTC)
Litecoin is currently the 9th largest cryptocurrency by market capitalization, offering similar functionalities to Bitcoin. It offers better speeds and lower transaction costs than its peer, Bitcoin.
Litecoin is remembered for its rally of 2018 when the price of LTC rallied from $96 to $305 in a week. The rally didn't stop there as LTC's price rose even further to $375.
LTC's price in 2020 remained fairly stable, its price was $41.67 on January 1st, and it rose to $82 by the middle of February. The volatility continued as the price dropped down to $32 by March. However, since then, LTC has maintained an upward trend, with its price staying between $40 and $50 until August. By November, LTC's price had risen to $88 and further to $131 by the end of December.
LTC's price increase carried on in 2021, with its price peaking at $179 in January, with the price going past the $200 mark in the middle of February. The price touched $240 by February 20th before a fall in price. Litecoin reached its all-time high of $412 on 10th May 2021. Currently, LTC is trading at $136 and is expected to increase again.
LTC's price is expected to increase in 2021, thanks to new partnerships and integrations that Litecoin has planned in 2021.
Litecoin's developer community also plays a significant role in the price of LTC, with regular updates and improvements affecting the price positively.
LTC's price predictions for August are predicting that the price could reach $150 by the end of August. Longer predictions state that Litecoin's price could cross $300 by the end of next year.
More On LTC: Could Litecoin Be A Millionaire-Maker Coin?
4. Cardano (ADA)
ADA is currently the 4th largest cryptocurrency by market capitalization and is one of the more stable Altcoins in the market.
If you look at Cardano's price chart, you will see the asset's price was reasonably stable all through 2020. ADA's price had surged towards the end of 2017 and the beginning of 2018.
Even though 2020 started with ADA staring at a bearish sentiment, Altcoin's price rose to $0.07 by February before falling again. This fall can be attributed to the COVID-19 pandemic and the resulting fallout. ADA's price recovered after this setback, touching $0.14 by August and further rising to $0.18.
2021 saw ADA draw significant interest from investors, resulting in a surge in price, with the price going from $0.34 on February 1st to $0.94 on February 13th. The price went even higher and reached ADA's all-time high price of $2.46 on 19th May 2021. Currently, ADA is trading at $1.29.
Cardano's surge in price can be attributed to a rise in the number of projects on the Cardano platform and the technology's mass adoption.
Cardano's increasing popularity will drive up the price of ADA both over the short and long-term.
Cardano's unique consensus mechanism, Ouroboros, also makes it stand out.
Read More: Why Cardano Is Going To Explode
5. Stellar Lumens (XLM)
Stellar Lumens is another Altcoin that has seen a resurgence lately, with its popularity growing exponentially. After reaching its highest price of $0.93 in 2018, the Altcoin has seen significant volatility as its price see-sawed through regular highs and lows.
XLM's bearish sentiment was attributed to an overall bearish market. 2019 also saw XLM try to break the $0.15 barrier, but for the most part, it could not.
XLM's price saw significant movement only in the middle of November when its price rose to $0.21 on November 21st. By the end of December, however, the price had fallen back down to $0.12 before jumping to $0.33 by January 8th. By February, the price was pushing $0.57 and even though it fell back down after encountering some volatility. In May the price reached 0.79. Currently, XLM is trading at $0.27.
XLM is also set for a bullish 2021, with renewed investor interest in the Altcoin as an investment asset.
The increasing popularity of DeFi is also expected to have a positive influence on the price. Stellar's collaboration with IBM will also play a positive role in the price of XLM.
Another major announcement that will positively influence XLM is the news that Ukraine is planning to use Stellar Lumens blockchain technology to develop its central bank digital currency.
Predictions for XLM state that Altcoin could reach up to $0.35 in August 2021.
Don't Miss: Stellar Lumens Price Prediction
6. Ethereum Classic (ETC)
ETC is currently the 54th largest cryptocurrency by market capitalization.
ETC's first significant surge occurred in July 2017, when the currency finally broke the $20 mark. It reached a price of $23 before falling to $12 by the middle of July. ETC encountered considerable volatility at this point, with its price staying below $20 until the end of November. The price did cross $20 for a brief moment prior to this.
ETC hit its highest ever price in December 2017 when it hit $47.77. However, the price fell almost immediately as ETC encountered considerable volatility. The price remained quite volatile, breaking $44 on January 14th before falling to $26 on January 17th. By the first week of February, the price had fallen to $15 but went past $40 towards the month's end. However, the price declined for the rest of the year; by the end of December 2018, it was down to $5.
The price slid further in 2019, and ETC could not go past the $10 barrier in 2019. 2020 also started on a bearish note for ETC, with the price at around $4 at the start of the year.
The price rose to $12 in February but could not sustain the price, falling to $3.91 in March. The price did not see much movement for the rest of 2019, staying under the $9 mark for the rest of 2020.
ETC's price saw significant movement in 2021, it reached its all-time high of $176.16 on 6th May 021. Currently, it's traded at around $50. The price is expected to rise in August, even if it encounters some volatility. The recent announcement from Grayscale that it had purchased ETC is expected to influence the price of the asset positively.
7. Binance Coin (BNB)
Binance Coin is the internal currency of the Binance exchange and is the 5th largest cryptocurrency by market capitalization.
BNB quickly established itself in the top 10 cryptocurrencies, with a reputation of being one of the most stable Altcoins in the market.
BNB's current market capitalization is around $99 billion. BNB is an ERC-20 token launched in 2017 on the Ethereum network.
BNB has had a very stable price since its creation, with a few price rises, but nothing too drastic. If we look at the currency's performance over the past few months, the price has been gradually increasing since September. At the end of September, BNB's price was $28. The price showed incredible stability for the rest of the year, and on January 1st, the price was at $37.73.
February is when the price really picked up. By the end of the first week of February, the price had touched $72 and rallied further, reaching $146.58 by February 10th. After staying between $125 and $140, the price shot up, going from $128 to its all-time highest price of $342.88 on February 19th.
BNB couldn't maintain this price, encountering some volatility, and its price fell to $205 by February 23rd.
Trading volumes have a significant impact on the price of BNB. This was evident in February 2021, when BNB rose to become the 3rd largest cryptocurrency in the world, thanks to increased trading volume.
BNB's association with the Binance Exchange gives it a huge advantage and a boost in volume.
Binance Coin Reached its all-time high of $690 in May. Currently, it's traded at $314.
Analysts predict that BNB's price could reach $800 by the end of 2022.
Altcoins to Consider This Month: Conclusion
Predicting the performance of cryptocurrencies, even over a short period of time, is tricky. Prices of Altcoins depend on market sentiments and the performance of other cryptos. It would be best if you were sure of the prevailing market sentiment and the factors affecting the currencies.
Keeping that in mind, the above are 7 Altcoins to watch for this month as their price is expected to significantly appreciate the back of new projects and improvements that will positively affect them.
Several factors betray the fact that the Altcoins listed above will have a bullish month and a bullish year. However, keep in mind that investing in cryptocurrencies is not risk-free, and you should be thorough in your research before investing in them.
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