Coins that shined in July. Check their success stories!
Hi traders! There's a list of coins that I'd like to highlight today. Let's discuss it.
Maker (MKR) is a DeFi protocol on Ethereum that issues and manages Dai, a stablecoin pegged to USD. Users can lock collateral like ETH into Maker's smart contracts to create Dai. The MKR token governs the MakerDAO, which oversees the protocol.
Recently, MKR has surged 47%, reaching 41st in market cap. MakerDAO has made significant moves, including increasing the Dai Savings Rate (DSR) to 3.49% and buying $700M in U.S. treasury bonds to diversify its balance sheet.
The price of the MKR is trading within a defined channel, indicating a period of consolidation or range-bound movement. The lower boundary of the channel is acting as a support level, with prices finding support around the range of $1070 to $1073
I am watching the scenario unfold.
Worldcoin
Worldcoin, co-founded by OpenAI CEO Sam Altman, introduces "proof of personhood" using biometric data via an "Orb" device. World ID enables fair voting and value distribution, possibly leading to universal basic income. The WLD token will be issued to users completing proof of personhood.
The main risks of this coin
Privacy
Despite using cryptographic methods to protect data, there is a risk of information leakage or misuse.
Accessibility
The need for physical access to the "Orb" device limits the project's coverage, potentially leading to uneven distribution in favor of urban centers.
Centralization
Despite Worldcoin's promises of decentralization, there are concerns about the possibility of introducing "backdoors" or creating fake identities.
Security
Risks associated with the potential hacking of phones, etc devices
Currently, the coin's price pattern appears unpredictable. However, I speculate that a potential bounce reaction might occur around the $1.7-$2 level.
XRP
The legal case initiated by the U.S. Securities and Exchange Commission against Ripple Labs in 2020 has concluded in favor of the latter. Throughout these years, the company had accused of selling unregistered securities.
Great news for this currency as it has already rebounded. As we know, "sell the news, buy the rumors." In this case, I would consider buying at lower levels. I will definitely keep an eye on the developments in August.
Thank you for reading my shortcut, folks!
What are your favorite coins that you traded this July or see? Write in the comments below. I will be glad to check it!
Maker (MKR) is a DeFi protocol on Ethereum that issues and manages Dai, a stablecoin pegged to USD. Users can lock collateral like ETH into Maker's smart contracts to create Dai. The MKR token governs the MakerDAO, which oversees the protocol.
Recently, MKR has surged 47%, reaching 41st in market cap. MakerDAO has made significant moves, including increasing the Dai Savings Rate (DSR) to 3.49% and buying $700M in U.S. treasury bonds to diversify its balance sheet.
The price of the MKR is trading within a defined channel, indicating a period of consolidation or range-bound movement. The lower boundary of the channel is acting as a support level, with prices finding support around the range of $1070 to $1073
I am watching the scenario unfold.
Worldcoin
Worldcoin, co-founded by OpenAI CEO Sam Altman, introduces "proof of personhood" using biometric data via an "Orb" device. World ID enables fair voting and value distribution, possibly leading to universal basic income. The WLD token will be issued to users completing proof of personhood.
The main risks of this coin
Privacy
Despite using cryptographic methods to protect data, there is a risk of information leakage or misuse.
Accessibility
The need for physical access to the "Orb" device limits the project's coverage, potentially leading to uneven distribution in favor of urban centers.
Centralization
Despite Worldcoin's promises of decentralization, there are concerns about the possibility of introducing "backdoors" or creating fake identities.
Security
Risks associated with the potential hacking of phones, etc devices
Currently, the coin's price pattern appears unpredictable. However, I speculate that a potential bounce reaction might occur around the $1.7-$2 level.
XRP
The legal case initiated by the U.S. Securities and Exchange Commission against Ripple Labs in 2020 has concluded in favor of the latter. Throughout these years, the company had accused of selling unregistered securities.
Great news for this currency as it has already rebounded. As we know, "sell the news, buy the rumors." In this case, I would consider buying at lower levels. I will definitely keep an eye on the developments in August.
What are your favorite coins that you traded this July or see? Write in the comments below. I will be glad to check it!