Next Cryptocurrency to Explode: 5 Altcoins to Watch in July 2024

Many altcoins are trying to make a comeback as they record significant gains. Bitcoin (BTC) is still struggling to return to $60,000

Many altcoins are attempting a comeback with substantial gains. Bitcoin (BTC) continues to struggle to return to $60,000, hoping to find support for its next big move. Investors should remain vigilant during this consolidation phase, as it could present an opportunity to capitalize on a rising trend.

Even before the market fully takes off, prices of these various assets are climbing. That is why today’s article is dedicated to identifying the next cryptocurrencies to explode and informing investors and traders about each token.

Next Cryptocurrency To ExplodeSmart investors are moving to capitalize on the boom in the altcoin market and taking positions in upcoming tokens like the Shiba Shootout. The project features a unique Wild West design, combining this popular period from American history with the crypto frontier. This post covers the details of its presale.

1. Internet Computer (ICP)

The Internet Computer aims to transform the Internet by establishing a blockchain-based network capable of running smart contracts at web speed. This project seeks to decentralize web infrastructure and create new applications, potentially attracting significant interest and investment in the future.

The Internet Computer blockchain uses advanced cryptography to introduce the concept of a “World Computer” blockchain. This technology enables the development of various online systems and services without needing traditional IT infrastructure, such as cloud computing, aiming for complete end-to-end decentralization.

Currently, ICP is trading at $8.11, showing a 14.23% increase in intraday trading. This performance is favorable compared to its initial token sale price. The token also demonstrates high liquidity relative to its market capitalization.

In other news, ICP has recently partnered with the United Nations Development Programme (UNDP) and the DFINITY Foundation to improve financial access for Micro, Small, and Medium Enterprises (MSMEs) worldwide through the Universal Trusted Credentials (UTC) initiative. This collaboration aims to enhance domestic financing access for MSMEs and facilitate trade financing across participating countries by fostering cross-border trust in data.

The latest #InternetComputer News and Updates are out

?? #ICP at @EthCC? Partnership with @UNDPtech?️ @pointzeroforum Innovation Tour?? Sign up for Chain Fusion Day Nashville

More ?️ https://t.co/CT5qpSRsLI pic.twitter.com/NBRS29mbgE

— DFINITY (@dfinity) July 12, 2024

Meanwhile, CME Group, the leading derivatives marketplace, and CF Benchmarks, a top provider of cryptocurrency benchmark indices, are launching new reference rates and real-time indices for Ripple’s XRP and Internet Computer (ICP). These benchmarks, set to launch on July 29, will be calculated and published daily by CF Benchmarks. Although not tradable as futures contracts, they are designed to improve price transparency and cryptocurrency discovery.

2. Ronin (RON)

Ronin Network, an Ethereum-based sidechain, has experienced significant growth. Its native token, RON, is now one of the top gainers among major cryptocurrencies. RON is trading at approximately $2.14, an increase of about 11.68% in the last 24 hours and 27.43% in the previous week.

The highest price RON has ever reached was $4.46 on March 26, 2024. Its lowest price was $0.00004011 on March 13, 2020. Since reaching its peak, the lowest price recorded was $1.54779, while the highest was $2.16.

RON’s price increase can be linked to its recent integration with Coins.PH, a regulated Filipino crypto exchange that has added PHPC liquidity to the Ronin blockchain. This is significant because the Philippines is a key market for Axie and Ronin users.

This integration allows for rapid and low-cost transactions in Philippine Peso, enhancing Ronin’s practicality for daily financial activities. Users can now make peer-to-peer transfers, merchant payments, remittances, and business transactions more efficiently, which increases Ronin’s utility and attractiveness.

Regarding network advancements, Ronin Network has announced the migration of the MMORPG game The Forgotten Runiverse. This game features a large world with gameplay, community-driven narrative development, NFT collections, a multimedia ecosystem, and goods. The game’s Twitter account has nearly 59,000 followers, indicating its growing popularity.

Considering Ronin’s recent developments and performance, the outlook for its price in July is cautiously optimistic but tempered by various factors. Over the past year, RON has shown exceptional growth, with its price increasing by 209.32%. It has outperformed 79% of the top 100 crypto assets and surpassed Bitcoin and Ethereum in performance. Currently, RON is trading above its 200-day simple moving