The complete destruction of the Terra (LUNA) network last month led to the deletion of two of the top 20 cryptocurrencies by market cap – LUNA and UST. Most things are not right in the crypto space right now. Token prices continue to drop with little sign of a late recovery. However, according to analyst from consulting giant The Motley Fool, there are two altcoins that have a good chance of outperforming in the coming months. Here are the details…
The first altcoin on the analyst’s list: Cardano
Cardano (ADA) is currently one of the fastest growing and most popular altcoins on the market. Much of this is due to the underlying Blockchain infrastructure behind Cardano. Cardano, a smart contract-enabled proof-of-stake blockchain, has become one of the most environmentally friendly investments a crypto investor can make. Cardano’s Blockchain is very open and provides an inviting environment with attractive significant developer interest. Blockchain’s native cryptocurrency ADA has lost nearly two-thirds of its value to date. However, for investors seeking long-term capital gains, this low base can be a setup that yields higher returns over time.
Like Ethereum and other blockchains that have undergone significant upgrades, Cardano has the upcoming Vasil hard fork, a catalyst that many think could take Cardano higher by the end of the year. Time will tell how smooth this presentation will be. However, an even more efficient blockchain could tip the scales in favor of this growth altcoin.
Second cryptocurrency: Binance Coin
Binance Coin (BNB) is the native token of the Binance exchange. The world’s largest crypto exchange, Binance, is an incredibly important central figure in crypto infrastructure. Recent headwinds on fines from the Dutch central bank and concerns about the overall stability of the crypto industry following the drop from other centralized exchanges like Voyager have led to a pretty steep drop in the price of this token. However, despite a nearly 50 percent drop to date, BNB is actually one of the better performers in the crypto industry this year.
Much of this has to do with Binance’s impressive user and trading volume numbers. As the crypto exchange of choice for most global investors, the value of the BNB token is a pretty good indicator of investor interest in this industry overall. For those who think that crypto will be successful in the long run, BNB may become attractive at these levels. Both Cardano and Binance Coin are tokens that some investors will have to deal with in the near term. However, those looking for altcoins that might outperform in August and beyond may want to take a look at these two options right now, according to the analyst.
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