Bitcoin is currently on a mini bull run, and contrary to what usually happens in times like this the altcoin market is not following the same way.
Apart from a few exceptions that manage to grab substantial gains in the previous 2 weeks, the altcoin market is currently under-performing and that can be easily checked just by looking at the bitcoin dominance which is currently at 47.24% according to CryptoProbe Market data, a value that has been growing these last days.
One of the reasons for this has been appointed to people selling their altcoins to buy bitcoin on the expectation of an ETF SEC approval that could push bitcoin prices higher on a big rally with the influx of institutional money, “buy the rumor, sell the news” is usually a good strategy for investors.
So what this means for the altcoin market investors currently?
With a high bitcoin market dominance some people may take advantage of the lower ratio of some altcoins compared to bitcoin and add up some coins to the portfolio to profit later on an altcoin green season.
5 Altcoin Picks for August
Augur leverages real-world, crowd-sourced information to enable the creation of decentralized, peer-to-peer prediction markets. Augur’s platform went live on July 9, and already has 543 markets currently active with more than $1.4 million at stake, making for one of the most successful DApp launches to date.
Given that the great majority of DApps have laughable daily active users, Augur stands apart and becomes a logical play moving forward.
Read more: What is Augur?
Loom Network is a platform as a service built on top of the Ethereum blockchain, enabling developers to create and run large-scale decentralized applications (DApps). Loom Network leverages a system of sidechains that allows each DApp to run on its own blockchain, working to reduce the network load facing these applications to further promote speed and scalability.
Loom Network is arguably the most advanced blockchain project functioning within the gaming industry. Given that this industry is closely adjacent to the crypto sphere in regards to users, it’s fair to assume that when it comes to mass adoption, Loom will be one of the top projects.
Formerly known as Monaco, MCO offers a variety of debit card options, coupled with a mobile wallet, a credit system, and an automatic trading platform. Monaco is a Visa program manager, as such, they can issue their own Visa-branded cards and leverage the Visa transaction network.
The project recently announced the purchase of the crypto.com domain name for an undisclosed amount believed to be in the multi-millions of dollars. According to the announcement, Monaco will officially rebrand as CRYPTO.com, in an effort to accelerate adoption of its consumer-facing products. Monaco’s flagship products, including its debit card and wallet app, have also been rebranded as “MCO.”
With the expansion of the brand, it’s clear that MCO is becoming a platform play, which ultimately bodes well for value creation.
Øx is an open protocol that facilitates low friction peer-to-peer exchange of ERC20 tokens on the Ethereum blockchain. The protocol is intended to serve as an open standard and common building block, driving interoperability among decentralized applications (dApps) that incorporate exchange functionality. Trades are executed by a system of Ethereum smart contracts that are publicly accessible, free to use and that any dApp can hook into. DApps built on top of the protocol can access public liquidity pools or create their own liquidity pool and charge transaction fees on the resulting volume.
The protocol does not impose costs on its users or arbitrarily extract value from one group of users to benefit another. Decentralized governance is used to continuously and securely integrate updates into the base protocol without disrupting higher level processes.
Read More: What is 0X Protocol (ZRX) ?
Basic Attention Token has been a pretty interesting project in the world of blockchain and cryptocurrency. More specifically, this token is designed to transform digital advertising as a whole. It is a bold venture by the BAT team, and the token has become a big part of their Brave browser as well. It is evident that digital advertising will need to undergo some big changes in the future, but it remains to be seen if Basic Attention Token holds the key in this regard.
Anyone who has ever opened a webpage in a browser will have seen some form of advertising along the way. There is a growing amount of advertising on various websites, and people often rely on ad blockers to stop seeing them. With Basic Attention Token, things are very different. Users can block ads completely, pay to see different ads, or simply view regular ads and earn BAT tokens as a result. It’s a give-and-take concept which seems to have worked quite well so far.
Like Øx, Basic Attention Token was also recently mentioned by coinbase has being on the study for potential future inclusion on the giant exchange.