5 Best Cryptocurrency To Buy Right Now In July

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Top digital assets like Bitcoin and Ethereum are rallying, but which is the right cryptocurrency to buy right now?

Getting started in the crypto space can be overwhelming, and you will need a guide to help you locate some of the best cryptocurrencies with growth potential.

To help you get your bearings, we have compiled a list of the best cryptocurrency to buy right now.

1. Tezos (XTZ)

Tezos price charts July 23

With a mission to build a future-proof blockchain platform, Tezos is one major cryptocurrency to buy right now.

Launched in 2018, Tezos is a blockchain protocol that aims to be more advanced by the Ethereum network.

The Tezos blockchain offers similar blockchain solutions to the popular decentralized applications (dapps) network.

Tezos uses the XTZ token for governance votes and network fees. The XTZ token has seen its value skyrocket over the years, but 2021 has been the ERC-20 token’s bellwether year. Coming into the year at $2.0089, XTZ surged more than 100% to $7.234 on April 16.

It soon retested this price and surged to an all-time high (ATH) of $7.536 on May 6 before the market correction. Even though it has since lost half of its value, XTZ is still one of the best cryptocurrency to buy right now.

The digital token is up 11.65% and trading at $2.6514 on the daily trading chart at press time. It is trading parallel to the 20-day moving average (MA) support and may likely find support at a higher price before the end of the day. Its relative strength (RSI) stands at 48.37 and is climbing.

The Tezos network is also gaining major adoption. In an announcement by crypto firm Mt Pellerin, the Tezos blockchain has been chosen as the platform that will power its tokenized securities such as bonds, funds, and shares. The company’s crypto mobile app also launched support for the XTZ token with zero fees for on-ramp and off-ramp services.

Also, the top decentralized freelance marketplace CryptoTask recently migrated to the Tezos blockchain. According to CryptoTask, Tezos is a suitable partner in its drive to scale its decentralized marketplace.

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2. Theta (THETA)

THETA Price Chart July 23

Another cryptocurrency to buy right now is the Theta blockchain.

Powered by two digital tokens, THETA and TFuel, the Theta blockchain is focused on making video streaming more decentralized and better. It does this by incentivizing users to rent out their spare bandwidth on their system. It does this on a peer-to-peer (P2P) basis.

Theta blockchain aims to revolutionize the way we upload content and interact with videos online. With video streaming up in the last year from lockdown restrictions prompted by the global pandemic, traditional content delivery networks have been unable to meet the demand.

Theta’s innovative system of allowing users to allocate spare computer space has addressed bottlenecks like buffering issues.

Aside from rewarding content creators, Theta blockchain also rewards viewers on its platform. The decentralized platform has major backers like YouTube co-founder Steve Cohen and Justin Kan of Twitch fame. Theta blockchain also supports the fast-rising non-fungible tokens (NFTs) space.

The Theta token is used for governance and fees settlement on the blockchain aside from TFuel. Price-wise, Theta has seen its value rise and fall with the broader crypto market. It rose to a record $13.41 on April 17 before dipping to a mid-year low of $3.6. It has rallied in the last 24 hours and is up 6.10% and trading at $4.65.

Pop star Katy Perry announced that she would be launching a line of NFTs on Theta Labs. According to her, this line of digital collectibles is part of her “Play” residency coming up at the end of the year.

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3. Solana (SOL)

Solana price charts July 23

Another cryptocurrency to buy right now is the popular Ethereum killer Solana. Launched in 2020, the Solana blockchain is an open-source crypto protocol that aims to provide decentralized finance (DeFi) solutions.

Like Ethereum, it is a platform that enables the seamless development of dapps. However, the Solana blockchain is more scalable as it uses a hybrid consensus architecture comprising its proof-of-history (PoH) timing mechanism and the proof-of-stake (PoS) consensus algorithm.

The Solana network currently processes transactions faster and records over 50,000 transactions per second (TPS), making it less energy-intensive and less costly. This twin advantage has seen Solana attract retail traders who have been unable to use the Ethereum network because of the dapps platform’s high gas fees and network congestion.

Solana uses the SOL token for its governance and payment settlement. The SOL token has largely experienced growth this year, moving from $1.3 on January 1 to $55.91 on May 18, increasing more than 5,000%. It currently trades at $27.225, up 2.03% on the daily chart.

Due to its shorter validation time and cost-effectiveness, Solana has attracted several dapps platforms. The latest is Australian blockchain company Power Ledger which migrated its protocol from Ethereum to the Solana blockchain.

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4. Decentraland (MANA)

Mana Decentraland price chart July 23

In the virtual reality blockchain world, Decentraland’s MANA token is king, and this makes it one of the cryptocurrency to buy right now.

Based on the Ethereum network, Decentraland enables users to create, experience, and monetize content and applications.

Using a virtual world, users get to buy a plot of land to create different experiences and sell them on the marketplace for a profit. In total, Decentraland’s “Metaverse” boasts over 90,000 virtual plots that users can buy with its MANA token.

Decentraland also uses an ERC-721 non-fungible token called LAND, representing the number of properties a particular holder owns on the platform.

With the growing popularity of the blockchain protocol, several businesses and companies are quickly leveraging the virtual world to penetrate the market by placing adverts and unique offers on parcels of LANDs.

MANA, an ERC-20 token, has seen its value rise and fall however it hit a record $1.5678 on May 6. It has since slumped and currently trades at $0.5968 and is up 2.40%.

Not considering its price action, Decentraland is the first blockchain platform to host virtual music festivals. Named Second Life, the event was in collaboration with NFT marketplace KnownOrigin.

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5. Polygon (MATIC)

polygon price chart July 23- cryptocurrency to buy right now

Polygon Network rounds up our cryptocurrency to buy right now list.

A multi-chain layer-two solution, Polygon is meant to make the Ethereum network faster. It does this by bundling transactions and validating them before transferring them back to the Ethereum mainnet.

Similar to popular multi-chain solutions like Polkadot, Cosmos, and Avalanche, Polygon enables the Ethereum network to transfer value across several blockchains.

Polygon does this through its modular, flexible software development kit (SDK). This allows it to support multiple blockchain platforms.

It uses the twin consensus protocol of its Plasma Framework and the more environmentally-friendly PoS protocol. This makes it more cost-effective and faster as the Polygon network processes transactions at 65,000 TPS.

Its MATIC token has seen exponential growth this last six months after it surged to a record $2.4544 on May 18. However, it slumped with the crypto market and has been struggling below a dollar. On the daily chart, MATIC is up 3.39% and trades at $0.91752.

The Polygon network is also expanding its solution from just validating transactions. In a July 19 release, the layer-two solution said it would be launching a $100 million fund to bridge the gap between blockchain and gaming. This saw it found the Polygon Studios.

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About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.