July was a month of mixed feelings for crypto investors. Bitcoin made some positive movements and also had some disappointing fluctuations. However, Ripple’s mini-victory over the SEC brought a moment of relief.
With August fast approaching, we’ll show you a couple of crypto coins to look forward to and why we believe there will be massive activity or price movements.
1) Icon (ICX)
The first on our list for August is Icon (ICX). Icon is a decentralized platform seeking to build a digital economy where the ICON Network hosts other blockchain-based networks. With ICON, companies, nonprofits, and government agencies can independently develop their mediums of value. It can be used by an entire networked ecosystem. The network’s native coin, ICX, supports the operation of the ICON ecosystem.
Starting July 31st, ICON will begin the Incentivized xCall Testnet Program, which it said is intended to bootstrap the xCall cross-chain ecosystem via sufficient testing and product onboarding. The xCall service is ICON’s messaging standard for cross-chain communications.
🗳️ Pre-registration for the #xCall Incentivized Testnet Program is now open!
Challenge categories range from cross-chain dApps to tooling and content, so there’s something for everyone, including a $200K prize pool for best submissions!
Key links below 👇 $ETH $BNB $ICX https://t.co/CxkYvaHwo6 pic.twitter.com/DBGYhjzdGD
— ICON – Connecting Blockchains 🌐 🔀 (@helloiconworld) July 17, 2023
Icon was developed to create a new type of digital economy in which programs could depend on the ICON infrastructure and participate in the decentralized market that ICON and its automated protocol had established.
These applications, which would stand in for participants in the economy, would be able to issue their currency, and nodes with access to computing power could select what apps to support.
🔗 #ICX by @helloiconworld are making waves in the crypto world!
Explore the benefits of being part of the $ICX ecosystem and stay informed about their connected ecosystem.
👇 Check out our blog post to stay ahead in the gamehttps://t.co/SPBIqLZpz4
— ChangeNOW (@ChangeNOW_io) July 19, 2023
Developers have been invited to build and test the xCall service to receive rewards. So many network activities would undoubtedly affect the ICX token, making it something to watch out for.
2) Litecoin
Litecoin is one of the OGs of crypto. But we could see a resurgence of interest in the LTC token in August because of the Litecoin Block Halving scheduled for August 2nd. This would be the third halving since its existence. It occurs every 840,000 blocks or around 4 years.
🚀 Litecoin activity is leading the market right now.
📊An analysis…
1⃣ A major social engagement spike to 2.16M social engagements within one hour occurred. This measures the depth of activity around social posts. Things like retweets, comments, etc. are included here to… pic.twitter.com/GY6qCLVR9S
— LunarCrush (@LunarCrush) July 30, 2023
Blockchain Halvings are events that reduce the amount of block rewards paid to miners by half. The idea is to keep inflation in check and increase scarcity, which boosts the token’s value over time.
Block rewards are paid to Litecoin miners for each new transaction block they assist in validating, just like with Bitcoin. For each new block created in 2011, Litecoin offered a 50 LTC reward. It reduced that reward in half, to 25 LTC, in August 2015. The last halving in August 2019 brought it down to 12.5 LTC. So, next month’s halving will take it down to 6.25 LTC per block.
Did you know @litecoin has NFT’s?
It turns out developers brought Ordinals to Litecoin! 👇https://t.co/T9uhcsScXI pic.twitter.com/0l4I4enp7b
— Beluga (@getbeluga) July 27, 2023
Halvings often generate lots of buzz and hype for a project. And we can see that with Litecoin in August. Previous Litecoin halvings have led to price spikes after the event.
3) ATOM
Cosmos, known as the Internet of Blockchain, is among our top projects to watch out for in August. The ATOM token, which currently trades at $8.98, could see a major spike next month because of the scheduled Gamma Release.
1/ Channel Upgradability is coming – Fostering a robust and sustainable #interchain
Chains will have the ability to upgrade their existing #IBC channels to unlock innovative features, such as the fee middleware, that brings on-chain fee incentivization for relayer operators. pic.twitter.com/mZqINDnboT
— Cosmos – Internet of Blockchains ⚛️ (@cosmos) July 21, 2023
The v11-Gamma upgrade will enable consumer chains to combine the provider’s chain validator set with their own staking validator sets. Although there’s no official date for this yet, as per the roadmap, the upgrade is scheduled for 2023 Q3. So, keep an eye out for ATOM.
4) EGLD
The eGold (EGLD) token powers the MultiverseX Network. EGLD plays a huge role within the network and serves as a governance token used for staking, smart contracts, validator rewards, and transactions.
Last week in $EGLD 🌏
1/
🔭🌑 @xDay2023 first details: Palace of Parliament, October 19-21
⛓ #MultiversX mainnet turned 3
🎁 @xPortalApp Mystery Boxes now reward referrers too
🛠 Weekly #MultiversXtech pic.twitter.com/aJZY8RZktp— MultiversX (@MultiversX) July 31, 2023
Part of MultiverseX’s plans to drive expansion is the XFabric update scheduled for this quarter. The xFabric is the creative blockchain module for individuals and brands. xFabric will result in more activities on MultiverseX. Companies could use it to create unique NFTs, in-game assets, and digital art. xFabric will bring more projects to MultiverseX. And we could see a price spike soon.
Conclusion
The scheduled upgrades for each project could lead to a spike in their cryptocurrencies. However, it’s important to do further research on each project and ensure it aligns with your investment goals.
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