The cryptocurrency market continues to falter around the same level. At $945 billion, its total limit has declined slightly — by 0.7% — over the past 24 hours. It also fell by 29% in one month and 46% in 60 days, marking a very difficult period for cryptocurrencies and the global economy as a whole. Most major currencies are going through an equally difficult phase, although some have reversed recent trends to post gains.
This article combines some of the best performing and most undervalued coins in a list of the 5 next cryptocurrencies that are about to explode in July 2022
The 5 cryptocurrencies that are about to explode in July 2022
1. Bitcoin (BTC)
BTC is $20,238 this morning, marking a 1.5% increase over the past 24 hours. It is, however, substantially flat in the last week and down 32% in the last 30 days.
Indicators of BTC show that it is at a very low reflux. As far as technicians are concerned, a big rebound is expected anytime soon, although economic circumstances are undermining any recovery right now.
In fact, other indicators suggest that now is a great time to buy bitcoin. This includes stock-to-flow and realized price indicators. Of course, as the Crypto Twitter PlanB personality suggests, there is an external possibility that there has been some sort of “structural break” with the previous history of the cryptocurrency market. That is to say, he has never been in a severe recession before, something that now seems like a real prospect.
However, BTC is the best placed cryptocurrency to increase at some point in the future. As with previous bull markets, it will start and drive any future bull market. It continues to command more institutional investment than any other currency, as well as attract more property to countries with severe inflation problems. This is why we have highlighted it as one of our 5 next cryptocurrencies to explode.
2. The Sandbox (SAND)
At $1.26, SAND has increased by almost 10% in the last 24 hours. It also increased by 16% in one week and 38% in two weeks, but lost 3% in a month.
SAND is one of the few major coins on the rise at a difficult time for the market. Its relative strength index (in purple) rose to 60, indicating good momentum. It is likely that its 30-day moving average (in red) will begin to move towards its 200-day average (in blue), potentially forming a “golden cross” that would signal a rally.
One of the main reasons SAND is gathering right now is that the Sandbox has opened a bridge to the level two polygon platform. This allows Sandbox users to transfer non-fungible LAND and SAND tokens to (and on) Polygon, thereby reducing costs and increasing efficiency.
This will reduce friction on the gaming platform/metaverse, in the process that attracts more users. In addition, the Sandbox has witnessed many high-profile activities on its gaming platform/metaverse. In particular, the manufacturer of hardware wallets Ledger has announced that it has chosen the Sandbox as the first virtual position in the metaverse. This is yet another endorsement of the platform, which has also partnered with TIME Magazine and Lionsgate in recent weeks.
It’s worth mentioning that the Sandbox amassed around $350 million in virtual land sales in 2021, more than any other similar platform. This highlights its potential, and also why we have included it among our 5 next cryptocurrencies to explode.
3. Ripple (XRP)
XRP is $0.323839 today, which represents a 0.5% increase over the last 24 hours. It decreased by 4% in a week, by 18% in a month and by 50% in a year.
The market is grossly undervaluing XRP at the moment, as evidenced by its low RSI and 30-day average. That said, its RSI has crept in the last week or so, perhaps in anticipation of a decision that is due in Ripple’s ongoing case with the SEC.
Basically, Ripple is waiting for Judge Netburn to decide whether emails related to an sec speech fall under the privileges of client-lawyer confidentiality. If they don’t, this will be a big boost for Ripple and its case. It will increase the chances of Ripple getting a favorable outcome and could accelerate the progress of the case.
At present, all final briefings are expected by December this year, with a final decision or agreement likely to be later than early 2023. However, hope is now being built that the expected decisions can speed things up. Anyway, the case of Ripple has strengthened in recent months and guarantees a good result, XRP will almost certainly explode.
4. eCash (XEC)
At $0.00004453, XEC has increased 13% in the last 24 hours. It also gained 12% in a week and 16% in two weeks, but is down 8% in a month.
XEC is clearly recovering, with its RSI heading to 60. Of course, with volatile market conditions, it’s not certain how long its current rally might last, even if it had been late.
For the uninitiated, eCash (XEC) is a renamed version of Bitcoin Cash ABC (BCHA), which in turn was a fork of Bitcoin Cash (which is a fork of Bitcoin). It has increased recently largely because it is offsetting previous steep falls. Another boost is the fact that it has witnessed a number of lists and exchange updates in the last month or so.
This includes KuCoin enabling XEC deposits and withdrawals in early June. It also includes Binance which adds the altcoin to its Binance Earn service, allowing depositors to earn interest on their XEC.
Such developments are an important part of why we can expect XEC to continue to grow in the near future. They are also the reason why it is among our next 5 cryptocurrencies to explode.
5. Evmos (EVMOS)
EVMOS has gained 16% over the past 24 hours, reaching $2.63. It also increased by 41% in one week and by 73% in two weeks.
Launched only at the end of April, EVMOS is one of the newest coins in the top-1oo cryptocurrencies by market capitalization. It is the native token of Evmos, an Ethereum-compatible side-chain for Cosmos. Put simply, it is a way to connect Cosmos with Ethereum and have Ethereum dapps on Cosmos.
As such, it has grown in importance to Cosmos in recent weeks. This was helped by the implementation of its v6 update, which will improve efficiency in various ways and increase compatibility with certain wallets (for example, MetaMask).