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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.
Analysts Predict July Rally: Key Cryptocurrencies to Buy Amid Current Market Decline
In the past few days, the global crypto market has experienced a decline, resulting in a shift from $2.58 trillion to the current $2.24 trillion. Although the price of Bitcoin is declining, the altcoins are collapsing one by one. According to CoinGape, on June 27, the market capitalization of altcoins decreased to 226.995B; the same is true for the total value secured.
Nevertheless, numerous analysts have asserted that the trend will reverse in July, during which the altcoins will experience a rally that results in gains of 100% or more. Additionally, the current decline in values presents an ideal opportunity to acquire cryptos that have the potential to experience a significant increase in value before the July rally.
On that note, let us examine some prospective cryptocurrencies to purchase before July and their rationale.
Injective (INJ)
Injection is one of the few cryptocurrencies favorable to the current market pullback. With a market capitalization of $2.1 billion, the Injective price has increased by 3% in the past 24 hours and is currently trading at $23.40. It is a promising token to purchase, as it has experienced a 5% recovery over the past week. Injective has generated substantial profits for its investors due to its robust performance in March, culminating in an all-time high of $52.75. If the market recovers this July, INJ can endeavor to provide more significant gains as the price begins to rise again.
Arweave (AR)
Arweave's price has been down 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 eyeing this altcoin, where analysts also believe it can rise as high as $100 in the bull run this year. Its current value 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, pointing to high growth potential.
Fantom (FTM)
The new update, FantomSonic, which is set to launch this year, is why Fantom is at the top of the list of must-buy cryptos. This update provides quicker and more efficient transactions. More crucially, the "S" token will replace the FTM token, and it will be released with an additional supply that will be distributed to its holders as a gesture of gratitude for their support. The FTM price is currently on pause for the rally, as history has demonstrated that new gains can be achieved through token launches and updates. It is presently valued at $0.5666 and has a market capitalization of $1.5 billion.
Ethereum (ETH)
Despite the approval of the ETH ETF, Ethereum is deviating from investors' expectations this month. However, July will be a different story for this altcoin. It has been an integral industry component, surviving and securing a dominant position among cryptocurrencies. Additionally, statistics suggest that the Ethereum ETF is expected to generate $15 billion in inflows, altering the market's dynamic. 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 purchasing zone.
The list of profitable cryptos extends far beyond the tokens previously discussed. Nevertheless, due to their high market demand, the INJ, AR, FTM, and ETH are the most optimistic investments.
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