This week is a small macro week. The impact of the German and American governments' selling of cryptocurrencies on the market has overwhelmed other factors. If the selling continues, it will be difficult for the market to improve effectively. We need to keep a close eye on the actions of the German and American governments this week.
In terms of encryption, the SEC has postponed its response to the ETH ETF, and trading will begin as early as next week. There is a high probability of good news this week.
This week's major events:
on Monday:
SEC Returns Form S-1 to Ethereum ETF Issuer, Requires Resubmission by July 8
Tuesday:
Federal Reserve Chairman Powell delivers semi-annual monetary policy testimony to the Senate Banking Committee
Wednesday:
The Reserve Bank of New Zealand announces its interest rate decision and monetary policy assessment report
Thursday:
US June CPI
U.S. weekly jobless claims
Friday:
US PPI in June
Crypto Market Outlook:
The cryptocurrency market is experiencing its worst July. Under the huge pressure of the German and American governments' selling, the decline of BTC and ETH has begun to accelerate, and the crypto market is relatively sluggish. At present, the overall IV level has rebounded significantly. If you choose a higher IV, you can open a sell order. The large amount of funds delivered in the quarter will smash the IV back at any time.
6 cryptocurrencies suitable for bargain hunting when the market peaks, achieving 100 times profit by the end of the year!
1. YUP
According to CoinGecko, Jupiter is a decentralized exchange (DEX) aggregator that allows users to exchange tokens in the Solana ecosystem at the best prices, with low slippage and low transaction fees. It also provides users with the best route to swap directly between multiple exchanges and liquidity pools.
As can be seen in the chart above, JUP is showing resilience and is still trading above $0.67, compared to its all-time high of $2.00.
The most important thing is that Jupiter is the top DEX on the Solana blockchain, and as the SOL ecosystem grows, JUP will increase. So, I believe this project will recover quickly in the coming days and weeks.
2.TRX
Tron is a blockchain-based decentralized operating system, much like Ethereum, that aims to advance the decentralization of the Internet and its infrastructure. Interestingly, the Tron blockchain is built around the usability of its native token, Tronix (TRX).
Looking at the chart below, you can see that the TRX token has remained strong since the bear market bottomed out in 2022. Although it has not hit a new all-time high since 2018, the project has shown progressive strength to rank among the top 20 projects in the cryptocurrency market.
Even with the recent market crash, Tron has maintained a bullish structure and has the potential to reach $0.3 as the market recovers.
3. WHAT
Kaspa is a proof-of-work cryptocurrency that implements the GHOSTDAG protocol. Unlike traditional blockchains, GHOSTDAG does not orphan blocks created in parallel. Instead, GHOSTDAG allows them to coexist and orders them by consensus.
Kaspa has a large and active community support, who often refer to Kaspa as Bitcoin 2.0, a term that most Bitcoin maxis strongly dislike.
If you look at the Kaspa chart, you will agree that despite the recent low market sentiment, the project has still generated huge profits for investors. To validate this view, Kaspa recently hit a new all-time high on June 30, when the price of Bitcoin had fallen.
As investors have confidence in the coin, I believe it will perform well for the rest of this cycle, considering it only dropped 14% during the recent market crash.
Therefore, this is a project that can recover quickly and make a quick profit as Bitcoin regains strength.
4.TON
TON (The Open Network) is a Layer 1 smart contract network specifically for financial applications. It was originally developed by Telegram co-founder Nikolai Durov as the "Telegram Open Network" but was relaunched as "The Open Network" under the TON Foundation.
This coin has been a monster that has generated huge profits for investors since October 2023. Even as most altcoins have struggled against Bitcoin, Toncoin, on the other hand, has outperformed Bitcoin. TON recently hit an all-time high of $8.25 in June, which is only 8.9% down from its all-time high.
The project has shown resilience against Bitcoin and could be one of the first coins to recover and then hit new all-time highs in the coming days. So if you are looking for a way to double your investment quickly, this project could help you do that before the rest of the market recovers.
5.OK
Ondo is a leading project in the Real World Asset (RWA) category that could deliver massive returns once again as long as the crypto market recovers. The project has shown resilience by hitting a new all-time high after a minor pullback.
If you look at the chart below, you will notice that Ondo has been trending downwards over the past few weeks, just like it did in April 2024, before hitting a record high in June.
I believe this project can recover quickly as other altcoins consolidate and wait for Bitcoin's next move. Considering ONDO's market cap is only $1.4 billion, we have a huge opportunity to make huge gains with it.
6.NOT
Notcoin is a community-driven token that aims to introduce users to the Web3 ecosystem through click-to-earn games.
The project has over 1.8 million followers on Twitter (X), a market cap of around $1.5 billion, and a large community of people earning NOT tokens by tapping their phone screens.
To be honest, I initially ignored this project because I thought it was just a hype token to attract investors. But I was wrong.
In fact, Notcoin has grown to become a top 100 token on CoinMarketCap and was recently listed on Bybit and Binance. Now, seeing the high trading volume of Notcoin on both Bybit and Binance, I have become very interested in it.
Notcoin has recently seen a dip like most projects in the market, which gives us a better entry point. So, if you are willing to bet on the project considering the strong community supporting it and the current market cap, then add it to your portfolio.
