Altcoins
Altcoins to Have in Your Portfolio After US Independence Day Celebration
The celebration of the United States Independence Day will have a slight impact on how investors view financial assets, especially Bitcoin (BTC) and altcoins. Currently, the cryptocurrency market is in freefall, with the price of Bitcoin falling below $58,000. Similarly, several altcoins have also fallen, leading to larger capital outflows.
As macroeconomic sentiments plummet, crypto users are holding their trades while others are repositioning their portfolios in anticipation of the next bull run. US markets are having a major impact on cryptocurrency prices due to volumes compared to other jurisdictions. This can be seen as Bitcoin hit an all-time high above $73,000 after the approval of Bitcoin spot ETFs in the US. Here are the altcoins to consider in your portfolio after July 4.
Ethereum (ETH)
Ethereum price has remained on a downward trend in recent weeks, in line with the cryptocurrency market. At press time, the asset is trading at $3,129, down 4.73% in the last 24 hours, while the weekly and monthly figures are falling into the red zone. However, bulls see this period as a phase that could lead to new highs in July.
The expected place
Ethereum ETF The IPO this summer is a major factor in price increases going forward. Market commentators believe that the inflows of capital from traditional investors should push prices to new highs.
Solana (SOL)
Solana is among the altcoins that should benefit from an ETF move.
GROUND is trading at $133, a 5.82% drop today and a 19% outflow this month. Despite this, the asset is known to outpace the market in recovery, and with bullish moves anticipated, users are preparing for a surge. Users are also pointing to higher on-chain volumes and the popular Solana Meme Pieces.
Toncoin (TON)
The high-flying crypto asset is down this week after falling market sentiment erased previous gains. This year, Toncoin has outperformed many altcoins, hitting a new all-time high of $8.24 in June. Although it is 12% below the mark, holders see potential in the momentum of its decentralized applications and play-to-earn games.
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David is a financial news contributor with 4 years of experience in Blockchain technology and cryptocurrencies. He is interested in emerging technologies and has an eye for breaking news. Staying abreast of trends, David has reported on several niches including regulation, partnerships, crypto assets, stocks, NFTs, and more. Outside of financial markets, David enjoys cycling and horse riding.