Original Title: 《12 Best Crypto to Buy Now in July 2024》

Author: Jon Nielsen

Translation: Mars Finance, MK

Which Cryptocurrencies Are Worth Buying Now?

Although the cryptocurrency market is still unstable, many investors are considering whether to sell now to ensure profits or to continue holding or even increasing their holdings to take advantage of potential price rebounds in the near to medium term.

Despite the gradual recovery of the cryptocurrency market from the previous bear market, each bear market eliminates some projects. Therefore, it is particularly crucial to select high-quality cryptocurrency projects that are expected to survive in the bear market and thrive in the future.

Based on multiple key factors such as liquidity, technological innovation, industry leadership, and token economics, this article analyzes 200 top cryptocurrencies. Detailed criteria will be introduced at the end of the article.

Through careful analysis, we have selected a dozen or so cryptocurrencies with the most investment value in the current market. The top three on our list will be updated weekly based on the latest developments in the cryptocurrency and blockchain field.

List of Cryptocurrencies Worth Investing in July 2024:

• Bitcoin - A peer-to-peer cryptocurrency with decentralized characteristics
• Toncoin - A blockchain closely integrated with the Telegram messaging app
• Cardano - A major competitor to Ethereum
• Maker - A crucial decentralized finance project
• Ethereum - A leading smart contract platform
• Solana - A high-performance smart contract blockchain platform
• Kaspa - A scalable first-layer blockchain based on the BlockDAG architecture
• BNB - A mainstream cryptocurrency used in the Binance ecosystem
• XRP - An efficient digital currency exchange tool
• Uniswap - The largest decentralized exchange (DEX) on Ethereum
• Notcoin - A TON blockchain project derived from a popular click game
• Shiba Inu - The second largest meme coin in the market

Research on Cryptocurrencies Worth Investing in

We first focused on three cryptocurrencies that have recently made significant progress or are about to have important events. This information will be updated weekly to reflect the latest developments in the cryptocurrency and blockchain field.

Before delving into the recommended list of cryptocurrencies, it is important to emphasize that choosing which cryptocurrency to invest in is just the beginning of your digital currency investment journey. Choosing the right trading platform and its subsequent storage method are equally important.

After purchasing cryptocurrencies on an exchange, it is best to transfer them to a hardware wallet for secure storage. Purchasing on KuCoin and storing in a Ledger hardware wallet is a good start.

1. Bitcoin

Bitcoin is a decentralized peer-to-peer digital currency that was initially proposed in 2008 and began operating in 2009. The founder of Bitcoin is an individual using the pseudonym Satoshi Nakamoto, whose true identity has not been revealed to this day.

Bitcoin introduced blockchain technology, providing a completely decentralized and extremely secure payment method. It uses a proof-of-work mechanism, greatly increasing the difficulty of modifying transaction records or conducting double spending. This network is maintained by miners, who protect the network by adding blocks and receive Bitcoin as a reward.

BTC can be transferred 24/7 anywhere in the world without the need for any intermediary institutions. Users can independently control their Bitcoin by safeguarding their private keys, without relying on banks or other financial institutions.

Despite the countless cryptocurrencies and blockchain platforms that have emerged in the market, Bitcoin remains one of the largest cryptocurrencies by market capitalization.

Why Choose Bitcoin?

In the past 14 days, the exchange rate of Bitcoin against the US dollar has risen by 22%, leading the overall rise in the cryptocurrency market. The increase in the price of Bitcoin coincides with increased uncertainty in the US political situation, including an assassination attempt against former US President Donald Trump.

Many analysts believe that this assassination attempt may increase the likelihood of Trump winning the presidential election in November. According to the blockchain prediction market Polymarket, the probability of Trump winning has increased from about 60% before the event to 71%. After the initial reaction, the odds of Trump winning against competitors including Kamala Harris and Michelle Obama are 64%.

The Bitcoin market has responded positively to the increased possibility of Trump becoming the next US president, as compared to his opponents and the current president Joe Biden, Trump holds a more friendly attitude towards Bitcoin and other cryptocurrencies.

If Trump becomes president, it may mean the end of Gary Gensler's term as chairman of the US Securities and Exchange Commission (SEC), which would be positive news for the cryptocurrency market. Trump's successor may have a more open attitude towards blockchain-based financial products.

In 2019, Trump stated that Bitcoin and other cryptocurrencies are "not real money" and "highly volatile, based on thin air." However, his remarks later turned more positive. In June of this year, Trump tweeted, "We want all Bitcoin to be made in the USA!!!" and said, "Bitcoin mining may be our last line of defense against central bank digital currencies."

Trump even plans to attend the Bitcoin 2024 conference in Nashville, Tennessee on July 27.

In addition, the net flow of Bitcoin spot ETFs is increasing. Although the daily net flow was mostly negative from the second week of June to the second week of July, we have observed a net inflow of over $2.8 billion since then. This indicates that institutional investors believe that buying BTC at the current price is a good investment opportunity. At the time of writing this article, the trading price of BTC is only 8% lower than its all-time high.

2. Toncoin

Toncoin is a blockchain project initially designed by the Telegram team, although Telegram abandoned the project due to legal disputes with the US Securities and Exchange Commission, the community recognized the potential of this platform and decided to continue development under the name Toncoin.

The development of Toncoin is now led by the TON Foundation organization, which is not formally associated with Telegram. It is worth mentioning that Telegram is integrating various features supported by the Toncoin blockchain into its messaging service, and the Telegram app has now integrated the TON Space wallet.

Technically, Toncoin is a scalable blockchain with smart contract functionality and a proof-of-stake consensus mechanism. Its initial token issuance used a proof-of-work mechanism to ensure fairness.

Why Choose Toncoin?

On July 19, Telegram founder Paul Durov announced that Telegram will launch a built-in decentralized app store and Web3 browser, emphasizing the fight against scams targeting blockchain novices.

According to DeFi Llama's data, Toncoin is one of the fastest-growing blockchain ecosystems globally, with a total locked value (TVL) currently reaching $7.68 billion, compared to only $13 million at the beginning of the year. The main drivers of this significant growth include Telegram's extensive user base and its deep integration with the open network, as well as various incentives introduced by the team in recent months.

Furthermore, the upcoming Hamster Kombat airdrop is expected to further drive growth. This is a globally popular game that has attracted over 250 million users since March. This integration and the upcoming native token issuance are expected to further drive up the price of TON.

3. Cardano

Cardano is a decentralized blockchain platform founded by Charles Hoskinson, co-founder of Ethereum, aiming to provide a more secure and scalable infrastructure for smart contracts and decentralized applications (dApps). The platform was launched in 2017 and uses a unique proof-of-stake consensus mechanism called Ouroboros, which is more energy-efficient and secure compared to traditional proof-of-work systems.

Cardano's native cryptocurrency ADA is used to support transactions and operations within the network. The platform's development is based on academic research and peer review, striving to build a scientifically rigorous blockchain ecosystem. Its layered architecture separates account value from transaction reasoning, enhancing the system's flexibility and security.

Why Choose Cardano?

Earlier this month, Cardano released an update for its validator node software Node 9.0 in preparation for the upcoming Chang hard fork, which is seen as a significant improvement introducing decentralized governance mechanisms. Currently, 29% of nodes have upgraded to the new version, demonstrating an important step towards wider adoption.

Additionally, Cardano's price has shown strong performance recently, with a 26% increase from July 8th to 16th, indicating potential growth.

4. Maker

Maker is a decentralized finance protocol running on Ethereum, managing the decentralized stablecoin Dai pegged to the US dollar. Users can collateralize assets such as ETH in Maker's smart contracts to mint Dai.

The Maker system requires the value of the collateral to exceed the value of the minted Dai, and users need to monitor the collateral value at all times to avoid liquidation. The MKR token serves as the governance token of MakerDAO, a decentralized autonomous organization overseeing the Maker protocol.

Why Choose Maker?

MakerDAO recently announced the Spark Tokenization Grand Prix, an open competition aiming to invest $1 billion in tokenized real-world assets (RWA) through the Maker platform. Several major asset management firms have queued up to participate, demonstrating broad support and trust in the Maker platform.

5. Ethereum

Ethereum is a blockchain platform that supports smart contracts, allowing developers to build complex applications such as decentralized lending protocols and non-fungible tokens (NFTs). The project was proposed by Vitalik Buterin in late 2013 and officially launched in July 2015.

One of Ethereum's initial applications was to support the issuance of custom tokens that can be traded on the Ethereum blockchain. Several projects successfully raised funds through initial token offerings (ICOs) and other token sale methods.

Currently, Ethereum has an active decentralized application (DApp) ecosystem, covering decentralized finance (DeFi), NFT markets, publishing platforms, and decentralized exchanges, making it a prime investment choice in 2023.

ETH is the native asset of the Ethereum blockchain, incentivizing users to maintain network security. Initially, Ethereum used a proof-of-work (PoW) mechanism and transitioned to a more environmentally friendly proof-of-stake (PoS) in September 2022.

Why Choose Ethereum?

With the expected listing of Ethereum ETFs in the US market, ETH has undoubtedly become one of the most watched crypto assets in the short term. After the US Securities and Exchange Commission (SEC) approved the 19b-4 filing for Ethereum ETFs, the price of ETH soared to around $3900. Although there was a subsequent pullback, once the ETFs start trading, it is expected to trigger bullish activity in the ETH market.

Considering the market reaction when the first batch of Bitcoin spot ETFs started trading in the US earlier this year, the price of BTC surged from around $45,000 to a historical high of over $73,600. Although it is difficult to predict the specific impact of Ethereum spot ETFs on ETH, the market generally holds an optimistic view. Bloomberg analysts' latest news suggests that the SEC may approve the listing of Ethereum spot ETFs on July 15.

6. Solana

Solana is a smart contract platform known for its unique architecture, capable of processing thousands of transactions per second at extremely low costs. Solana achieves this goal by combining a unique proof-of-history algorithm and proof-of-stake consensus mechanism. SOL, as a cryptocurrency, is favored in the market for its low transaction costs (averaging less than $0.001 per transaction).

Founded by Anatoly Yakovenko in 2018, the mainnet went live in March 2020 and gained widespread adoption in 2021. Despite a decline in value during the bear market of 2022, Solana still maintains one of the most prominent ecosystems in the cryptocurrency field, with significant potential.

Why Choose Solana?

Asset management companies VanEck and 21Shares have separately applied to launch spot Solana ETFs in the US, both seeking listing on the CBOE BZX exchange. 21Shares plans to use Coinbase as the custodian for its fund's SOL, with funds stored in independent wallets on the Solana blockchain. It is worth noting that due to regulatory requirements, the fund will not stake SOL.

Outside the US, 21Shares has already launched an exchange-traded product (ETP) backed 100% by SOL, allowing holders to earn staking rewards. This product is traded on the Swiss Stock Exchange, Stuttgart Stock Exchange, and Amsterdam Stock Exchange.

Although there are active applications for Solana ETFs now, the path to Solana ETFs may be more complex than the recently approved Ethereum ETF. It is important to note that the US Securities and Exchange Commission (SEC) has claimed in at least two lawsuits that SOL is an unregistered security, and unlike Bitcoin and Ethereum, there is currently no regulated Solana futures market in the US.

7. Kaspa

Kaspa is a decentralized cryptocurrency project focused on high scalability and fast transactions. Kaspa uses a blockDAG instead of traditional blockchain technology, aiming to provide a more efficient and user-friendly experience with fast block confirmations. This first-layer blockchain combines proof-of-work (PoW) with directed acyclic graph (DAG), optimizing the finality of blocks and making the Kaspa network more energy-efficient and efficient in transaction processing than other PoW chains.

Why Choose Kaspa?

Kaspa performed well last week, rising by 19.5% against the US dollar. The primary driver of this growth was the announcement by cryptocurrency mining company Marathon Digital that it has been mining Kaspa since September 2023. The company has purchased Kaspa mining hardware worth 60 exahashes (EH) (Bitmain's KS3, KS5, and KS5 Pro miners), although only half are currently operational. The company expects to have 16% of the global Kaspa hash rate once all mining hardware is deployed.

Marathon Digital's Chief Growth Officer Adam Swick stated, "Kaspa's technological innovation and active community enable us to diversify our sources of income and increase profitability per kilowatt-hour. While Bitcoin has its unique value, Kaspa's innovative technology provides us with valuable opportunities to support and nurture proof-of-work innovation."

8. BNB

BNB is a token launched by the Binance cryptocurrency exchange in 2017. This token has two main uses: first, holders can enjoy a range of benefits when using the Binance exchange, including reduced trading fees, priority participation in Launchpad and Launchpool projects, and cashback when using the Binance Visa card; second, as the native asset of the BNB Chain blockchain, it not only has lower transaction fees but also allows developers to easily deploy decentralized applications compatible with the Ethereum Virtual Machine (EVM). BNB was previously known as Binance Coin and has undergone extensive rebranding in recent years.

Why Choose BNB?

Binance recently launched a new program called "HODLer Airdrops" aimed at rewarding users holding BNB in its Simple Earn product. Binance stated that it will airdrop tokens of projects that are about to be listed and already have a large circulating supply through the HODLer Airdrops. Binance promises that these projects will be sound-based, community-active mid-sized projects. In addition, BNB holders participating in Simple Earn can not only receive airdrops but also enjoy other benefits of the Launchpool, Megadrop program, and the Binance VIP program.

9. XRP

XRP is a cryptocurrency launched in June 2012, developed by David Schwartz, Jed McCaleb, and Arthur Britto, who co-founded OpenCoin company with Chris Larsen. Initially, 80% of the XRP supply was gifted to OpenCoin, which later rebranded as Ripple and stored most of its XRP in escrow accounts.

XRP offers extremely fast and low-cost transfers, particularly suitable for international remittances and other scenarios. Unlike systems using proof of work or proof of stake, XRP implements the XRP Ledger consensus protocol, allowing each participant in the network to choose a set of validators they trust to maintain network security and stability.

Ripple has incorporated XRP into several of its products, especially in its On-Demand Liquidity (ODL) service, partnering with cryptocurrency exchanges to improve the efficiency of cross-border remittances using XRP.

Why Choose XRP?

As a core member of the XRP Ledger ecosystem, Ripple recently announced the launch of a USD-pegged stablecoin on the XRP Ledger and Ethereum platform. This stablecoin will adopt a traditional full backing model, backed by USD deposits, short-term US Treasury bonds, and other cash equivalents. To enhance transparency, Ripple plans to release monthly audit reports from third-party accounting firms to verify the full backing of the stablecoin. This initiative is expected to greatly enhance the liquidity of the XRP Ledger and may bring new growth momentum to XRP.

10. Uniswap

Uniswap is a decentralized cryptocurrency exchange that popularized the automated market maker (AMM) model. This innovative design allows for direct token swaps on the blockchain without relying on traditional order books, greatly simplifying the trading process.

The Uniswap protocol is fully decentralized, allowing anyone to create liquidity pools for tokens, often enabling new crypto assets to be traded on Uniswap before entering traditional cryptocurrency exchanges. Additionally, Uniswap is currently one of the largest decentralized exchanges by trading volume.

The UNI token is held by users of the Uniswap protocol, who can submit and vote on protocol proposals. UNI was initially airdropped to early users of Uniswap and is now tradable on multiple decentralized and centralized trading platforms.

Why Choose Uniswap?

The UNI token has shown outstanding performance in the past week, with a 12% price increase, reaching a multi-week high. Meanwhile, most cryptocurrencies in the market have been depreciating. On-chain data shows that the growth of open UNI contracts is consistent with market trends, indicating increasing investor interest in UNI. Additionally, Uniswap recently added support for ZKsync, allowing its users to trade on the efficient Ethereum Layer 2 network, which may lead to lower fees and faster transaction times for Uniswap, potentially fostering a positive outlook for UNI.

11. Notcoin

Notcoin initially appeared as a simple click game within the Telegram messaging app. By continuously clicking on a shiny coin image, players could earn points and activate rewards to increase the speed of point acquisition. The Notcoin Mini App also has basic social features, allowing users to create "teams" and compete with other teams on leaderboards, helping Notcoin quickly gain the attention of millions of users.

Currently, the Notcoin team has launched a true token on the TON blockchain platform, codenamed NOT. This token is intended to serve as a community token, rewarding users for activities such as exploring the web3 ecosystem, participating in games, or contributing value to the ecosystem.

Why Choose Notcoin?

Notcoin has partnered with DeFi project 1inch and on-chain authentication project Sign to provide startup acceleration services for teams on the TON blockchain, called Triangle. This accelerator supports teams dedicated to improving the TON user experience and bridging the gap between web2 and web3. Participants will receive support for market entry services, investment, and guidance, and can use the TokenTable token management platform and the Sign Protocol to prevent misconduct. Additionally, 1inch will provide support for DeFi integration. The accelerator's initial members include several industry heavyweights, indicating the development potential of Notcoin.

12. Shiba Inu

Shiba Inu is a meme-based cryptocurrency created by a developer using the pseudonym "Ryoshi" in 2020. The project was inspired by Dogecoin and uses the Shiba Inu dog breed as its brand image. Unlike Dogecoin, which has its own blockchain, Shiba Inu was issued as an ERC-20 token on the Ethereum blockchain.

In the initial distribution of the SHIB token, half of the supply was transferred to Ethereum's founder Vitalik Buterin, although he was not involved in the project. This action was considered by the project team as a token burn. Buterin subsequently burned most of his SHIB holdings and sold the remaining tokens, using the proceeds for charitable donations.

In 2021, SHIB's popularity surged, making it the second largest meme coin by market capitalization, second only to Dogecoin. Additionally, SHIB is also one of the most popular low-priced cryptocurrencies currently.

Why Choose Shiba Inu?

The Shiba Inu project raised $12 million by issuing the TREAT token. This funding was provided by several international venture capital firms, including Mechanism Capital and Big Brain Holdings.

The TREAT token is designed as the latest introduction to the Shiba Inu ecosystem, intended to serve as a utility and governance token for the new blockchain, enhancing the privacy of blockchain transactions.

The new blockchain of this ecosystem will adopt Zama's fully homomorphic encryption (FHE) technology and is planned to operate as a third-layer blockchain on the Shibarium platform.

Shytoshi Kusama, the chief developer of the Shiba Inu project, commented on the fundraising:

"We are thrilled to have such strong support from venture capital, angel investors, and brand partnerships to advance this ambitious decentralized project. These venture capital partners and their strategic collaborations add credible strength to our network and significantly enhance the contributions that Shiba Inu can truly make to our 'ShibArmy' community."

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