As far as all cryptocurrencies are volatile, their rates change every second.
For example, with the “London” hard fork breakthrough, Ethereum becomes an MVP of the month, albeit it always wont to lose to Bitcoin.
Interestingly, it’s not on the present list, despite its recent July growth of $40000.
Nonetheless, Bitcoin should be a king of crypto, but what other digital currencies do one must bear in mind? Follow the thought with altynex.io.
Nowadays, Ethereum is that the absolute crypto-market MVP. Moreover, in recent months, its rate has been far more stable than Bitcoin. Earlier, it had been supported by negative forecasts as if it would be down below $30000.
The recent successful hard fork update and promising rate changes have also left a big impact.
As a blockchain for DeFi and NFTs, Ethereum is one of the few digital asset networks that have succeeded on the adoption front. Besides, we can’t help but check with the recent hack of the DeFi platform The Poly Network.
ETH tokens were one among the three stolen assets.
The nature of this incident shouldn’t have played out well for the crypto. Regardless, the timely-appropriate response of the Network founders and quick return of the funds impacted Ethereum well.
Another impressive point is about how generous the reward for the placement of hacker(s) was. it had been worth $500 000! Plus, it’s worth noting how swift was the tracking operation. In our opinion, this can be a phenomenon within the crypto world, right beyond the market.
NFT tokens are surfing prolific milestones: their trading volumes are increased by 76,240% this year. And yes, indeed: the indications have gone far beyond absolutely the maximum. Meanwhile, 37575.9 ETH have burnt for the worth of $121 million, which also highlights the success of the hard fork.
The second-best cryptocurrency to shop for in August is Ripple. A fortnight ago, in Japan, Ripple Labs opened the primary on-demand liquidity corridor. As within the ETH hard fork case, the bigwig event impacted well on the cryptocurrency perspectives.
Generally speaking, the expansion dynamics looks over positive. Over the last week, the token has grown by 35% against the US dollar. It’s 21% more against Ethereum and 24% more against Bitcoin. We expect that the most optimists of the market — “bullish investors” will play big this weekend.
To date, the annual maximum of XRP is worth $1.938. It is a superb indicator, given some fluctuating shifts within the past (i.e., reaching no over $1). We’d also prefer to recall that the all-time high (ATH) of XRP, $3.40, was recorded on January 7, 2018. And here’s fuel for thought: should we expect an identical rate this year?
According to the TradingView platform, Ripple’s price is worth $1.29 as of August 16th. If you invest in XRP now, it’d be available at medium risk.
Cardano has been a slow burn when it involves rolling out its roadmap. That restrained the value growth until the 2020’s Shelly update and also the subsequent increment this year.
Just in 2020, Cardano became a solid decentralized blockchain when the Ouroboros framework started working. the following item within the roadmap is the Alonzo hard fork, which allows the network to launch smart contracts. Initially, it was presupposed to happen in early October 2021.
However, the Cardano crypto community is extremely excited about the upcoming hard fork. After all, we have got an Ethereum example, which has set high standards for other cryptocurrencies.
Recently, the founding father of Cardano, Charles Hoskinson, made a public statement with more information reveal regarding Alonzo.
Subsequently, the hard fork launch date was postponed to September 12th. it should well explain the sharp increase within the price in the week — ADA has increased by 41% over the past seven days and surpassed ETH by 27%!
Unlike XRP, ADA is way closer to its $2.42 ATH, which was reached in May 2021. To return and even surpass the high level, ADA overcame the resistance of $2.0 at the onset of the season.
According to the TradingView platform, Cardano’s price is worth $2.15 as of August 16th. If you invest in ADA now, it’ll function as a long-term opportunity.