New day, new rally in crypto markets: Bitcoin Gold, Convex Finance and Ethereum Classic are leading in terms of performance today. How high could the coins rise – and is it even worth starting?
Bitcoin Gold Pumps +30%
No other altcoin has gained as much as Bitcoin Gold (BTG) in the last 24 hours: From $17.93, BTG managed to rise to $23.26 – This corresponds to a daily return of almost 30%.
It is not clear what drives the movement – the coin seems to have fallen asleep, the last tweet from the official Twitter account is from December 2021. Crypto momentum tracker CrytiCall writes about the BTG rally:
“⏰ $BTG shows unusual activity. Keep it on the watch list to build momentum and volume.”
🔹 Price: 23.64
🌐 M. cap: 398.3M
— CrytiCall (@cryti_call) July 22, 2022
However, forecasts predict a downturn for BTG: Gov.capital, for example, sees the price at $10.60 by July 2023 – that’s a drop of more than 43% in one year.
Convex Finance +17% Daily Gain
The second best cryptocurrency today is Convex Finance (CVX): Bulls pushed the DeFi protocol to $8.07 from yesterday’s low of $6.88, marked a daily gain of more than 17%.
The trading volume in the last 24 hours is $19,577,066 but it seems to be cooling down now and up 16.04% from yesterday.
In the short-term, Convex Finance (CVX) could consolidate and pull back after the rally – however, long-term forecasts expect a continued upward movement, for example Gov.capital: According to current CVX forecasts, the a silver coin. to $65.58 within the next 12 months (+712%)then explodes to $478.80 by 2027. This corresponds, at the current price, to yield 5.833%!
Ethereum Classic rally ends +15%.
At the bottom of the best cryptocurrencies today is Ethereum Classic (ETC) – the original ETH, from which Ethereum as we know it today arose as a so-called fork.
Analysts suspect: Ethereum Classic could also benefit from the upcoming Ethereum upgrade to version 2.0 (the so-called Consensus Layer). Then: Ethereum will then become a pure Proof-of-Stake network – resulting in Ethereum Classic being the largest Proof-of-Work network just after Bitcoin.
This is probably also reflected in the price of ETC: it has been pumping for days now and then, and has also increased significantly in the last 24 hours. The rally started around $23.20: that’s when the ETC price slowly pushed higher, reaching as high as $26.72 – 15% increase.
There are also current forecasts for ETC: Gov.capital offers a price target of $56.86 in its 1-year forecast (+112%), and by 2027, ETC could even reach $232.79 (+771%).
Coincierge.de tip: Battle Infinity – new Metaverse NFT gaming project
The new blockchain gaming project Battle Infinity (IBAT) is also pushing up. “Battle Infinity has set high goals – we are the new Axie Infinity,” says founder Suresh Joshi confident of victory. Seeking to attract millions of players, the Metaverse NFT Play-2-Earn gaming ecosystem is targeting the massive fantasy sports market.
Beneficial for investors: Coin makers are fully verified on Coinsniper. This reduces the likelihood of a “rugby draw”, ie the developers will run out of user funds. Concerns like this usually keep many users from investing in new cryptocurrencies. At the same time, IBAT is currently in presale and can be purchased at the presale price of $0.0015. According to analysts like crypto youtuber Jacob Crypto Bury, a 100x increase in value is possible if Battle Infinity is listed on crypto exchanges!
Last updated on July 22, 2022
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