Top 5 most watched cryptocurrencies in July!
Pepe
Inspired by the popular meme culture on the Internet, Pepe Coin uses the familiar frog image as a representation. This coin is a fun decentralized currency that can be used to tip others, participate in games, and participate in various social media activities. Pepe's market value has reached $682 million, and the trading volume in the past 24 hours has reached $248 million.
Now, the price of PEPEUSD is $0.00000173, down 5.05%. The cryptocurrency broke through its previous high and unexpectedly rebounded by 20%, showing positive momentum.
Edge (XVG)
Verge is a privacy-focused coin that utilizes multiple anonymity networks such as TOR and I2P to hide the user's IP address and location. It also supports multiple mining algorithms, making it more accessible and decentralized. Currently, Verge has a market cap of $98 million and a 24-hour trading volume of $450 million. Verge is currently trading at $0.006249, down 25% in the past 24 hours.
The coin is currently testing the resistance level of $0.006, while the support levels are $0.0055 and $0.005. The RSI indicator is 74, indicating that the coin is bullish, but close to the overbought area. The MACD indicator also shows a positive trend, and the signal line crossed the zero line on June 27 and the distance from the MACD line increased, indicating that the bullish momentum is strong.
Bitcoin (BTC)
Bitcoin is the first and most popular cryptocurrency, which enables transactions through a peer-to-peer network without the intervention of intermediaries or central institutions. The supply of Bitcoin is limited, with a total of only 21 million coins, and a proof-of-work consensus mechanism is used to secure the network and verify transactions. Currently, Bitcoin has a market capitalization of $602 billion and a 24-hour trading volume of $16 billion. Bitcoin is currently trading at $31,031, up 1.34% in the past 24 hours, 1.18% in the last week, and 14.01% in the last month.
Looking at the price action, Bitcoin has been in a sideways range since mid-May. It plunged from $58,000 to $30,000 in a matter of days. For the past six weeks, the coin has been trading between $31,000 and $36,000 with no clear trend or direction. Currently, the price of Bitcoin is near the lower limit of this range, with support at $30,000 and resistance at $32,000.
PENDLE
Pendle is a protocol that enables users to trade and hedge the future yields of their assets. It allows users to convert the future income streams of their assets into tokens, such as interest tokens or liquidity provider tokens, and trade them on the secondary market. In addition, Pendle also provides a yield aggregation platform to help users optimize the returns of their assets. Currently, Pendle has a market cap of $176 million and a 24-hour trading volume of $52 million. Pendle is currently trading at $0.8695, up 24.74% in the past 24 hours, up 12.76% in the last week, and up 94.97% in the last month.
Ethereum (ETH)
Ethereum (ETH) is not considered a security by the SEC and many analysts. The asset continues to be highly favored by developers due to its versatility, mainly due to its smart contracts that automatically execute according to predetermined conditions. Analysts on the Changelly blog say ETH will peak around $2,474 per unit in 2023 and reach $2,184 per unit by the end of the year.
The price of Ethereum has risen significantly. Just a year ago, the asset was priced at around $1,100, while it is now priced at $1,933 at press time. Even observing the recent dynamics, the price continues to rise.
Consider seasonal patterns. Ethereum (ETH) exhibits distinct months of strong performance, as well as periods of poor performance. Notably, September, June, and March are months where it tends to perform poorly, suggesting that these periods may offer favorable buying opportunities for investors.
Overall, the top five popular tokens on CoinMarketCap on July 4, 2023 are Pepe (PEPE), ETH, Verge (XVG), Bitcoin (BTC), and Pendle (PENDLE). These tokens have different features, uses, and target markets, but they have one thing in common: they have been attracting attention and interest from investors and traders over the past month. While some tokens are in a strong uptrend, others may be in a consolidation or correction phase.
