Analysts Predict July Rally: Key Cryptocurrencies to Buy Amid Current Market Decline

As the crypto market experiences a decline, analysts predict a rally in July, highlighting INJ, ETH, AR, and FTM as top buys for significant potential gains.

As the crypto market experiences a downturn, analysts are predicting a rally in July, highlighting INJ, ETH, AR, and FTM as top buys for significant potential gains.

In the past few days, the global crypto market has experienced a decline, shifting from $2.58 trillion to the current $2.24 trillion. As the price of Bitcoin continues to decline, the altcoins are also facing a setback. According to CoinGape, on June 27, the market capitalization of altcoins decreased to 226.995B; similarly, the total value locked has also declined.

However, several analysts have predicted that the trend will reverse in July, during which the altcoins will experience a rally that could result in gains of 100% or more. Moreover, the current downturn in prices presents an ideal opportunity to acquire cryptos that have the potential to generate a significant increase in value before the July rally.

On that note, let us بررسی some prospective cryptocurrencies to buy before July and their rationale.

Injective (INJ)

Injection is among the few cryptocurrencies that have been faring well despite the overall market pullback. With a market cap of $2.1 billion, the Injective price has risen by 3% in the last 24 hours and is currently trading at $23.40. It is a promising token to buy, considering it has experienced a 5% recovery over the past week. Injective has generated substantial profits for its investors due to its strong performance in March, culminating in an all-time high of $52.75. If the market recovers this July, INJ could aim to secure more significant gains as the price begins to rally once again.

Arweave (AR)

Arweave's price has declined by 31% in the last 30 days, but it has still gained 180% value since the beginning of the year, placing itself on the list of profitable cryptos. With that, investors are keeping an eye on this altcoin, where analysts also believe it can rise as high as $100 in the bull run this year. Its current price is at $26.91 with a market capitalization of $1.7 Billion and is one-third of its all-time high of $90.9, set three years ago, indicating a potential for high growth.

Fantom (FTM)

The upcoming FantomSonic update, which is set to launch this year, is why Fantom is at the top of the list of must-buy cryptos. This update will enable faster and more efficient transactions. More importantly, the FTM token will be replaced by the "S" token, and it will be airdropped with an additional supply that will be distributed to its holders as a token of appreciation for their support. The FTM price has paused for the rally, but historically, new highs have been achieved through token launches and updates. It is currently priced at $0.5666 and has a market capitalization of $1.5 billion.

Ethereum (ETH)

Despite the approval of the ETH ETF, Ethereum is falling short of analysts' expectations this month. However, July will be a different story for this altcoin. It has been an integral part of the industry, surviving and securing a dominant position among cryptocurrencies. Furthermore, statistics show that the ETH ETF is expected to generate $15 billion in inflows, altering the market's dynamics. It will also impact Ethereum's price, which analysts predict could increase to as much as $6K. The cost of ETH has decreased to $3,367.80, placing it in the buying zone.

The list of profitable cryptos extends far beyond the tokens discussed above. However, considering their high market demand, INJ, AR, FTM, and ETH are some of the promising cryptos to invest in.

Photo: Microsoft Bing

The above is the detailed content of Analysts Predict July Rally: Key Cryptocurrencies to Buy Amid Current Market Decline. For more information, please follow other related articles on the PHP Chinese website!