Best cryptocurrency to buy now Jul 11: Mina, Composite, Solana protocol
Major cryptocurrencies are trading with a moderately positive bias on Tuesday, but are still mostly within recent ranges ahead of key US inflation data on Wednesday.
Bitcoin (BTC) was last trading around 1% in the last 24 hours in the $30,600 area, while ether (ETH) was last trading around $1,870.
Positive reports in the crypto press regarding the implementation of BlackRock’s spot bitcoin exchange-traded fund (ETF) could be acting as a slight tailwind for sentiment.
Reports allege that BlackRock’s app goes beyond spot trading surveillance to also include an agreement to share exchange user data with regulators, should they request it.
This could further increase the likelihood that the Wall Street giant’s ETF application will be approved by the US Securities and Exchange Commission (SEC).
For crypto investors interested in diversifying their holdings away from blue-chip names like bitcoin and ether, here are some of the best coins to consider buying on Tuesday.
Mine Protocol (MINA)
MINA, the native token powering the zk-SNARKs-powered Mina Protocol blockchain, continues to trend lower within the confines of a downtrend channel that has been in play since February.
MINA/USD was last at $0.45, pulling back below its 21 and 50-day moving averages after testing multi-week highs in the $0.52 area early in the session.
While the technical outlook for MINA remains bearish, if the cryptocurrency can break out of its downtrend line, it could see substantial gains in the medium term, so it could be a good cryptocurrency to buy.
An innovative new web3 project called DeeLance is building a metaverse based on cryptocurrencies and NFTs that, for the first time in the industry, places the job market on the blockchain.
The project, which is touted as one of the hottest crypto startups of 2023, is building a metaverse to unite freelancers and employers and promises to revise remote work forever, as well as the $761 billion dollar recruiting sector.
Using the decentralization and transparency of the blockchain, DeeLance wants to eliminate overly powerful intermediaries like Fiverr and Upwork that have abused both freelancers and employers for the past decade.
DeeLance is already generating a lot of buzz in web3 circles and some observers believe it could upend the still-heavy web2 platform-focused freelance/gig economy.
The project has already raised a whopping $1.5 million in just a few months since the launch of its $DLANCE pre-sale token.
DeeLance also recently secured a huge strategic investment of $1.12 million from major venture capital firm Bitgert Ventures, a sign that institutions are increasingly taking notice of the project’s potential.
Investors are encouraged to quickly move into the safe tokens, as when the pre-sale reaches $1.7 million, the price will rise from its current super cheap level of $0.038.
With DLANCE set to debut on major cryptocurrency exchanges later this year at $0.57, investors jumping in now can make profits of around 50%.
The top five wallets that purchase the most $DLANCE between now and the end of the fourth stage of the pre-sale will be rewarded with a share of $500K in $DLANCE tokens.
$DLANCE can be purchased using ETH, BNB, and USDT (the ERC-20 and BEP-20 variants).
Buy DLANCE here
Compound (COMP), the token that powers Compound Finance’s decentralized finance (DeFi) lending/lending protocol, is pumping again on Tuesday.
COMP was last up close to 10% in the session above $65 per token as the target is a retest of yearly highs above $70.
A break above this key resistance zone would open the door for a quick rally to the next major resistance zone at $93, which means short-term gains in the 40% region are very possible.
Wall Street Memes (WSM)
Wall Street Memes, one of the most popular retail investment communities on the internet, rose to fame in the 2021 stock meme craze and has recently been expanding its relevance in the cryptocurrency space with the pre-sale of its new token. $WSM.
The success of the $WSM pre-sale, which has raised over $14 million in just over a month, is hardly surprising given the size of the Wall Street Memes community.