Source: Getty Images
The complete devastation caused by Terra (CRYPTO:LUNA) network last month led to the obliteration of two of the top 20 cryptocurrencies by market capitalization — LUNA and UST. The crypto sphere is in a difficult time right now. The crypto sphere continues to see a decline in token prices, and there have been no signs of recovery.
However, the week began with a bang. To start the week, bullish sentiment was a big factor in many cryptocurrencies. An announcement about a date for the upcoming Ethereum (CRYPTO.ETH) Setting the stage for an altcoin rally
However, not all altcoins were as enthusiastic about Ethereum. Indeed, in many ways, some altcoins are looking to disrupt Ethereum’s market share. It may be more difficult than one might think to choose the Ethereum alternatives that will thrive in August.
Here are two altcoins which I believe will outperform over the next few months.
Top altcoins Cardano
Cardano (CRYPTO.ADA) is currently one of the most popular and fastest-growing altcoins on the market. Cardano’s blockchain infrastructure is a major reason for this. Cardano is a smart contract-enabled, proof-of-stake Blockchain that has made it one of the most environmentally-friendly investments you can make as a crypto-investor.
Cardano’s blockchain is very open, providing an inviting environment that has attractive significant developer interest. The blockchain’s native cryptocurrency, ADA, has lost roughly two-thirds of its value on a year-to-date basis. This lower base may be an opportunity to provide higher returns for investors who are looking to long-term capital appreciation.
Cardano will soon undergo a Vasil hard fork like Ethereum. This is a catalyst that many believe could help Cardano climb higher in the coming year. The smoothness of this rollout will only be known over time. An even more efficient blockchain could help this growth altcoin.
Binance Coin
Binance Coin (CRYPTO.BNB) is Binance’s native token. The world’s largest crypto exchange, Binance is an incredibly important centralized figure in terms of crypto infrastructure.
The price of this token has fallen sharply due to recent headwinds, such as fines from the Dutch central banks and concerns about the stability of the crypto market following the fallout from Voyager. BNB has been one of the top performers in crypto this year, even though it is down approximately 50%.
Much of this has to do with Binance’s impressive user and trading volume numbers. BNB token’s value is an excellent indicator of investor interest in this sector as it is the crypto exchange of preference for most international investors. BNB token may be attractive to those who believe crypto will succeed over the long-term.
Binance Coin and Cardano are tokens that will require some hair investment in the short term. If you are looking for altcoins with the potential to outperform in August, and beyond, these two options might be worth your consideration.