In the wake of the recent hype around growing institutional interest in digital assets, certain cryptocurrencies have been displaying promising trends and attracting significant investor attention
In turn, Finbold carried out a thorough analysis of the crypto market on July 7 and handpicked 5 prospective assets under $0.10 that may capitalize on the current positive investor sentiment in the coming weeks.
Stellar (XLM)
XLM staged an impressive performance this year. In fact, it is one of the top 10 cryptocurrencies by monthly returns in 2022, with a year-to-date surge of around 35%.
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At press time, Stellar was trading at $0.095, down 5.36% in the past 24 hours.
The cryptocurrency fell around 11% on the weekly chart, though it remains up 7% on the month.
One factor contributing to XLM’s price surge this year is Stellar’s collaboration with Coinbase. Notably, since June, the crypto exchange fully supports deposits and withdrawals of the USDC stablecoin via the Stellar blockchain.
In addition, Stellar also recently announced its integration with MoneyGram, allowing users to directly deposit or withdraw cash from their digital wallets via USDC on the Stellar network.
VeChain (VET)
VeChain (VET) is a blockchain-powered platform that offers a range of features, including a strong governance structure, a sustainable economic model, and integration with the Internet of Things (IoT).
At the time of publication, VET was trading at $0.02, down more than 5% on the day.
On the monthly chart, VeChain is down slightly, around 0.8%, although it gained roughly 20% since the start of the year.
Despite its tepid performance recently, VET is among those cryptocurrencies investors should keep an eye on. The crypto asset has witnessed an upswing in social activity in recent weeks, and could deliver a robust move if it manages to break out of its current trading range.
In late May, VeChain launched a Web3 workshop that includes a grant program to “educate developers about #Vechain’s advanced technical features and its extensive network of reputable enterprise partners.”
Terra Classic (LUNC)
Late last month, an anonymous group of crypto developers known as the “Six Samurai” published a proposal aimed at rejuvenating the embattled Terra Classic (LUNC), and breathing a new life into the crypto token.
This week, some members of the LUNC community proposed to make Binance CEO Changpeng Zhao a leader of the Terra blockchain to “speed up developing activity” and “make Luna Classic rise again.”
Meanwhile, Terraform Labs has also confirmed the merger of the previously submitted Pull Request (PR) to integrate LUNC/USTC swaps on TerraSwap.
To execute its plans, the group required a Q3 budget of $116,000, pledging to fulfill their responsibilities if the proposal gets a green light.
At the time of writing, LUNC was trading at $0.00008063, down 4% on the day.
The cryptocurrency fell around 9% on the weekly chart, and more than 21 in the past 30 days.
Terra Classic delivered an unimpressive price performance recently; however, it remains an asset worth monitoring, particularly after the emergence of the aforementioned proposal.
Kaspa (KAS)
Kaspa (KAS) blockchain is a decentralized and scalable protocol designed to address the limitations of existing blockchain networks by offering high throughput, low fees, and increased scalability, enabling efficient and secure transactions and smart contracts.
The project has recently announced several new developments, including listing KAS on the KuCoin crypto exchange.
The cryptocurrency fell 0.5% in the past 24 hours to $0.02, and more than 17% on a weekly chart.
However, KAS gained over 40% over the past month, adding around $130 million in market cap during that period.
XDC Network (XDC) is a blockchain platform that combines public and private blockchain features. It has recently witnessed significant growth in development activities and partnerships, indicating potential future price growth. The network’s recent upgrade has simplified the deployment of smart contracts, enabling the creation of decentralized applications (DApps).
In an effort to bridge the gap between traditional finance and the blockchain industry, XDC Network has partnered with Fathom to introduce a new method for users to earn XDC coins.
More recently, XDC Network also teamed up with the SBI’s group subsidiary in Japan to provide services to customers of the banking powerhouse.
At press time, XDC was trading at $0.03, down 1.4% on the day.
The crypto coin slipped 5.8% over the past month, though it remains up by more than 27% year-to-date.
Final words
Although the cryptocurrencies mentioned above have been struggling recently, it is important to remember that the digital asset landscape is changing fast, and as such, it should be no surprise if one of these assets delivers a shock move.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
