Altcoins To Have In Your Portfolio Post US Independence
The United States Independence Day celebration will have a slight impact on how investors perceive financial assets including Bitcoin (BTC) and altcoins. At the moment, the crypto market is in a free fall as the price of Bitcoin dropped below $58,000. Similarly, several altcoins have also taken a tumble driving larger outflows.
As macro sentiments plunge, crypto users stall trades while others reposition their portfolios in anticipation of the next bull phase. The US markets have a major impact on crypto prices due to volumes compared to other jurisdictions. This can be seen in Bitcoin hitting an all-time high above $73,000 following the approval of spot Bitcoin ETFs in the United States. Here are altcoins to consider in your portfolio after July 4.
Ethereum (ETH)
The price of Ethereum remains on a downward trend in recent weeks in line with the crypto market. At press time, the asset trades at $3,129, a 4.73% drop in the last 24 hours while weekly and monthly figures fall lower in the red zone. However, bulls tip the period as a phase that may lead to more highs in July.
The anticipated spot Ethereum ETF listing this summer is a major driver of a price rally in the future. Market commentators opine inflows from traditional investors to push the price to new highs.
Solana (SOL)
Solana is among the altcoins set to benefit from an ETF drive. SOL trades at $133, a 5.82% decline today and a 19% exit this month. Despite this, the asset is known for outpacing the market in recovery, and with anticipated bullish upticks, users gear up for an increase. Users also point to higher on-chain volumes and the popular Solana meme coins.
Toncoin (TON)
The high-flying crypto asset is down this week after plunging market sentiment wiped out previous gains. This year, Toncoin outperformed many altcoins soaring to a new all-time high of $8.24 in June. Although 12% below the mark, holders see potential in the momentum of its decentralized applications and play-to-earn games.
Also Read: PEPE Meme Coin Wallet Counts Surges; What It Means For Its Price
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