The cryptocurrency market seems to be turning things around after the sell-off throughout June. Bitcoin (BTC) has reclaimed the $63,000 mark and the global crypto market cap has risen 3.6% in 24 hours to $2.45 trillion.
July could be a critical month for the market because of a number of happenings in the industry. Let’s take a look at three assets you should watch this month as we head into the third quarter of 2024.
Top 3 cryptocurrencies to watch in July 2024
Ethereum:
Ethereum (ETH) has risen 3% in the daily charts and 3.6% over the previous week. The US Securities and Exchange Commission recently dropped its investigation into the project as well.
There is a possibility that ETH ETFs will make their debut in early July. The move could lead to a massive price spike for ETH, similar to how BTC reached a new all-time high in March, fuelled by the spot BTC ETFs.
Also Read: Cryptocurrency: Top 3 Coins Under $1 To Buy During The Dip
The SEC dropping its investigation and an ETH ETF could together push the second-largest cryptocurrency to a new high.
Solana:
Solana (SOL) has also witnessed a strong rally over the last few days. SOL has risen 5.6% in 24 hours and 18.7% over the previous week.
The recent spike in SOL could have been attributed to both VanEck’s SOL ETF filing and the overall revival in the market. It’s probable that the regulators will soon permit a SOL ETF. The move may result in a substantial boost for the fifth-largest cryptocurrency.
Shiba Inu:
Shiba Inu (SHIB) is also pursuing the general market trend. The daily and weekly charts show a 2.1% increase in the value of the cryptocurrency. July has historically been a bullish month for the well-known dogcoin. This month, we might see the asset return to the $0.00003 level.
Also Read: Dogecoin: Top 3 Things That Can Take DOGE To $1