Top 7 Altcoins for July 2022 – ETH, SHIB, ADA, LINK, CEL, QNT, STORJ
The king of altcoins, Ethereum, holds a lot of potential as an investment this month as the DeFi pioneer prepares for the arrival of “The Merge” as well as Difficulty Bomb next month.
Scheduled for August, these two events will bring about an overhaul of the network, which investors and developers have been preparing for since December 2020.
While the one-month ROI on ETH isn’t particularly impressive, it’s the anticipation of the potential profits investors can reap from entering low.
Shiba Inu (SHIB)
While one may want to discredit Shiba Inu for all he stands for (and believe me, I support you in doing so), the meme piece managed to amass an audience that was preparing for the arrival of the SHIB from Shiba Inu: The Metaverse.
The development is expected to be a game-changer for the network, which also makes it a viable asset for investment. This is why entering while it is still gaining momentum is a great opportunity for those looking to take profits.
Similar to Ethereum, Cardano will also see an overhaul to its DeFi front this month, as the Vasil hard fork is expected to go live on the mainnet by the end of July.
After recently going live on the testnet, Vasil would impact not only the network but the native asset as well.
Chain link (LINK)
One of the most notable cryptocurrencies on the market is Chainlink, thanks to its unique offerings and features.
Although the Oracle blockchain does not look promising when it comes to ROI, its consistent development and integrations among hundreds of DeFi protocols make it a must-have.
In the second quarter alone, Chainlink integrated with over 12 blockchains and Layer 2 networks, with its oracle networks crossing the 1000 mark.
This is despite the market downturn last month, which gives LINK its value as a solid network that will always support the growth of the asset.
CEL is among the emerging altcoins that became the highlight of the month, with the highest return on investment (ROI) of 113%. The altcoin, which was trading at $0.36 a month ago, was found to change hands at $0.75 at the time of writing.
As a leading platform, Celsius will find competition in the market, but if the broader market gears shift higher, CEL is sure to post a profit.
Another altcoin with a spectacular return on investment was Quant’s native token QNT, which saw returns of 48.43% on the month. In the market that has kept Bitcoin consolidated at $20,000, even a 48% ROI is a commendable achievement.
But what makes Quant a solid investment are its use cases. As a blockchain interoperability network and operating system, Quant greatly facilitates cross-chain functionality for blockchains that are becoming a necessary functionality for crypto networks through user demand.
Last on the list is Storj, however, it is in no way inferior to any of the other cryptocurrencies on this list. Like Chainlink, Storj is also bringing a different, albeit already existing, feature to the crypto space in the form of a decentralized digital file storage system.
This way, systems running its software can rent unused hard drive space to users to store their files, which can then be paid for using the native SOTRJ token.
Now, as a simple token as well, STORJ has performed exceptionally well over the past month, generating an ROI of up to 40%.
With the growing need for decentralization, these platforms would become a viable alternative to storage clouds, which makes STORJ a good investment for the future.