Finding the best new cryptocurrency to buy in July should be easy. The reality is far from straightforward. Bitcoin has commanded the ship so far and continues to do so, with the premier digital asset controlling 50% of the overall market. But altcoins are picking up steam by the day.
In this article, we explore some of the best new cryptocurrency to buy in July week 2 outside of Bitcoin and Ethereum.
1. DeFi Coins (DEFC)
Starting off our best new cryptocurrency to buy list is DeFi Coins.
The community-driven protocol is focused on educating investors on the benefits of decentralized finance (DeFi) and the non-fungible token (NFT) space.
Since it went live on centralized crypto exchange Vindax last week, DeFi Coin’s DEFC has surged more than 200% in value, increasing from $0.15 to $0.54 in just a few days. It has continued its run in its over-the-counter (OTC) price and surged to $0.035 in a matter of days, increasing more than 1,500%.
VinDAX will open trading for DeFi Coin @DeFiCoin5 DEFC/BTC, DEFC/ETH, DEFC/VD, DEFC/USDT trading pairs on 2021/06/30 08:00 AM UTC.
— VinDAX Exchange (@VinDAXOfficial) June 28, 2021
With the DEFC token currently trading at $1.913 on dex.guru, the token is heading for the $3 mark in a matter of days. This price surge shows that investors are piling on the new DeFi entrant.
Several reasons have led to the parabolic rise of DEFC in just two weeks since going public.
The DeFi Coin plans to launch the BEP-20 token on major crypto data aggregators, including Coingecko and Coinmarketcap, in the coming weeks. This will see the token gain the needed attention from investors.
Another place it will be looking towards listing is the Binance-owned decentralized exchange (DEX) platform PancakeSwap.
The platform’s popularity is a major boost for DEFC as investors can easily swap the token for CAKE which is far more valuable.
DeFi Coins is also rolling out a number of initiatives. First and foremost is the planned launch of a DEX platform on the DeFi Coin website, in which DEFC will play a prominent role in its running.
Another planned launch will be its own DeFi Coin App which will seek to penetrate the smartphone market through which the DeFi Coin Educational App and course can be launched.
All these efforts will contribute to the continued growth of the DEFC token, in the long run, making it one of the best new cryptocurrency to buy this month.
2. Polygon (MATIC)
If anyone is familiar with the Ethereum network, then Polygon should naturally be a side explanation. This is because the side-chains continued existence is intrinsically tied to the decentralized applications (DApps) platform.
Rebranding as Polygon in May of this year, the layer two scaling solution has made something of itself attracting many investors and businesses alike to its platform.
This has seen its price action surging from less than a dollar to over $2.6 in May. But, Polygon hasn’t achieved all these by luck.
Polygon’s primary role on the Ethereum network is to enable faster and cheaper transactions of Ethereum-compatible blockchains.
It does this by bundling up transactions and verifying them before sending them back to the parent network.
Aside from this, the Polygon network has taken strategic steps to grow its brand and preach the good news of DeFi. It launched a software development kit (SDK) to make it easy for developers to deploy Etherum-compatible chains quickly.
In addition, it partnered with SmartDeFi, a crypto protocol that seeks to onboard more users into the booming crypto trading market by Q2, 2021. Aside from this, the Polygon network has recently been chosen as the platform of choice to launch the latest non-fungible token (NFT) of digital creator Mike Winklemann better known as Beeple.
With this growing adoption, the Polygon token is one of the best new cryptocurrency to buy in July for massive returns.
3. Polkadot (DOT)
Polkadot does not boast a large market value, but it is definitely one of the best new cryptocurrencies to buy, given its growing use case.
The heterogeneous blockchain is focused on creating a scalable, fast, and interoperable blockchain network where all blockchains can transfer value in a trustless manner via the Polkadot Relay Chain.
It is also looking to foster a decentralized web through which content creators and not intermediaries will control their data.
The blockchain’s mission has attracted interest from institutional investors who are backing the project to succeed.
Osprey has launched a Polkadot Trust that will enable high-value investors to gain exposure to DOT prices. Swiss company 21Shares AG also launched its DOT-focused product on the Swiss SIX exchange and digital asset firm Valour.
In addition to this is its upcoming parachain auction, which will enable blockchain platforms to bid for a space on the Polkadot ecosystem.
With a current price of $$16.73, DOT is still set for an uptrend and is one of the best new cryptocurrency to buy for long-term appreciation.
4. Solana (SOL)
Solana seeks to take on the Ethereum network head-on and makes our list of the best new cryptocurrency to buy in July. Like the Ethereum blockchain, Solana aims to facilitate decentralized applications (Dapps), and it’s banking on blockchain technology to develop DeFi solutions.
Unlike the large-cap crypto protocol, Solana uses a dual consensus protocol combining the innovative proof-of-history (PoH) consensus algorithm alongside the well-known proof-of-stake (PoS) consensus protocol.
This hybrid system enables it to be faster and cheaper in verifying transactions. Solana’s cost-efficient validation model has attracted retail traders who are concerned about
Ethereum’s high gas fees and network congestion.
This has seen the SOL token surge to an ATH of $58.03 before the market correction. Currently trading at $37.23, SOL is up 8.10% on the daily chart.
5. ThorChain (RUNE)
Last on our best new cryptocurrency to buy list is decentralized liquidity protocol ThorChain.
The blockchain platform enables users to swap one asset for another easily in a permissionless manner.
ThorChain functions as an automated market maker (AMM), enabling users to get the best prices in the market and shun the traditional order books in sourcing for liquidity.
Instead, users can easily provide liquidity to any number of the platform’s pools through the RUNE token.
The RUNE token is up 1%, trading at $7.49 on the daily chart.
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