Every day, from the web pages of our media, we bring you the latest news on blockchain technology and cryptocurrencies to help you keep up with this dynamic market. But let's face it, no one has time to read every single news story, so we curate the top coins and offer a little price forecast using old, reliable technology — not AI market analysis, we're not that mainstream — but tarot cards. Dive into our roundup of the hottest cryptocurrencies.
Related: TOP Memecoins of June and July 2024
Bitcoin (BTC)
When it comes to top cryptocurrencies, Bitcoin is the first that comes to mind. Even those who know nothing about crypto have heard of Bitcoin, so naturally, we had to include it in our top forecast.
Bitcoin started June around $67,500, and by June 30th, it settled at about $61,500. This shocking $6,000 drop isn't exactly a sight for sore eyes or wallets of Bitcoin holders, but there's no need to panic and empty your crypto wallets just yet.
Overall, the market remains optimistic after the Federal Reserve maintained interest rates, potentially creating a more favorable environment for riskier assets like Bitcoin.
Predicting cryptocurrency prices is notoriously tricky, but our in-house tarot reader is undeterred by challenges and has made the following forecast based on current trends.
If the uptrend continues and inflation concerns ease while the Fed keeps a dovish stance, Bitcoin could potentially climb back up to $65,000 in July.
Ethereum (ETH)
When it comes to blockchain, the first thing that springs to mind is the renowned Ethereum blockchain, a favorite among developers and the diligent executor of smart contracts. In ancient times, ether was considered the fifth element, and today ETH is known as the conduit of transactions and the second-largest cryptocurrency in the world, or altcoin #1.
Like any other cryptocurrency, Ether is subject to volatility, keeping investors on the edge of their seats as they refresh their charts. The coin started June around $3,760, only to slide down to roughly $3,390 by June 30th.
Industry conferences like ETH Belgrade and Money20/20 Europe potentially boosted investor confidence, but the effect was short-lived, and Ethereum couldn't hold its price, starting its descent right after the conferences ended. We wondered if having such events daily would help keep the price stable, so we asked our tarot reader. He shrugged indifferently and shuffled his deck to forecast July prices:
If inflation fears ease and the Fed remains accommodating, Ethereum could potentially rise to $3,600. However, if negative economic news surfaces, Ethereum might test support levels around $3,100.
Tether (USDT)
Unlike other cryptocurrencies, Tether (USDT) is a stablecoin designed to maintain a 1:1 peg to the US dollar. This means its price should ideally stay around one dollar. But wouldn't it be dull if we lived in a perfect world where Tether was always exactly one dollar, not a cent more or less?
Since Tether is a stablecoin, external events usually don't have much impact on its price as long as the peg holds. Only if there are doubts about Tether's ability to maintain its reserves could confidence in the peg be shaken, leading to price fluctuations. At the time of writing, the coin’s chart looks stable — don't confuse it with a healthy person’s ECG, it's a real chart.
Tether started June around $0.998 and by the end of the month, it was still hovering close to its peg, oscillating around $0.998. Stability, as they say, is the key to success.
Predicting slight fluctuations for a stablecoin is tricky, our fortune-teller said before heading off to lunch. However, barring any unforeseen circumstances affecting the stability of the peg, USDT will likely remain close to $1 in July.
Binance Coin (BNB)
Having covered the major cryptocurrencies, altcoins, and stablecoins, let's move on to other important coins we couldn't ignore. BNB is the native token of Binance, one of the most widely used cryptocurrency exchanges. Currently, it can be used for trading, processing payments, or even booking trips.
Beyond its various use cases, Binance doesn’t forget to reward its token holders. The exchange has announced the launch of HODLer Airdrops, exclusively targeting BNB holders. This new initiative allows users who subscribe to Simple Earn products using BNB to receive airdrop tokens from projects with significant circulating supplies.
Moreover, BNB Chain is gearing up for a groundbreaking update, promising to reduce transaction costs by up to 90% and boost network performance with the introduction of BEP 336. That means less BNB spent on trading and more on savings. Still wondering if this token is worth your attention?
As for its price, this month has been very turbulent, showcasing both new highs and lows. BNB started the month around $595 and within a week reached $720, achieving new heights. However, it couldn't maintain this level and ended the month at approximately $576. But this is no reason to write off a token whose ecosystem continues to evolve and achieve new successes in the crypto space. Everyone has bad days.
Solana (SOL)
Solana ($SOL) continues to lead the way in blockchain innovation, especially in the decentralized finance (DeFi) sector. The increasing open interest since the start of the year underscores Solana's robust standing, making it a key player in the altcoin market.
According to reputable sources, Solana is at the top of the list of contenders for the next crypto ETFs in the US.
Over the past month, Solana’s price has been stably negative, indicating wait-and-see investment strategies. Solana started June at around $166 and ended the month at about $143 per coin. This price trends might seem negative at first glance, but considering that a year ago, the token was trading just above $20, a slight decline now doesn't look so bad.
Looking ahead, if broader market conditions remain unchanged, SOL could continue to trade within the same price range as in June, fluctuating between $135 and $145.
U.S. Dollar Coin (USDC)
Initially, we copied the text from the Tether (USDT) section and just changed the coin's name because the forecast and price movements are similar. But the chief editor didn't agree with that approach, so here’s the edited text.
USDC is the second-largest stablecoin by market capitalization, standing at $32.24 billion. In June 2024, USDC remained close to its peg to the US dollar, with some minor fluctuations depending on the exchange. The monthly chart shows a range from $0.99 to $1.004.
As for the tarot price forecast, we don't have any data because our tarot reader is still on lunch break, but I think we can manage without him. We predict the price will stay around $1 in July 2024.
XRP
The price of XRP has been on a downward trend throughout June. Despite Judge Phyllis Hamilton of the U.S. District Court for the Northern District of California dismissing most of the class action lawsuit against Ripple on June 20th, Ripple was spared from potentially massive damages.
Even with this legal victory, XRP's value has recently declined amid a broader market pullback. Its price has dropped more than 10% over the past month, and just this week, it fell another 8%. Currently, XRP is trading at $0.4755, continuing its downward trend. It ranks seventh on CoinMarketCap with a market capitalization of about $26 billion.
Finally, our tarot reader finished lunch, and we got a forecast for the last coin on our top list. If the crypto market recovers, coupled with positive news regarding Ripple’s legal battles, the price could rise to $0.55.
Related: TOP Cryptocurrencies of June 2024
Despite the buzz around newly emerging tokens, we can't ignore the power of the dominant tokens in the market. The prices of these major coins set the tone for the entire crypto market, and we respect their influence. But remember, this is just a forecast, and actual price movement can be quite volatile.
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