Experienced Analysts: These 4 Altcoins Could Explode in August!

Altcoin projects such as Ethereum Name Service and Tezos have made strong collaborations in the bear market. AltcoinBuzz analysts are evaluating 4 altcoin projects that stand out in this period. With the upcoming news, these 4 altcoins are preparing for a strong August.

4 altcoins ready to explode in August 2022

ENS (Ethereum Name Service), where you can get a domain ending in .eth, saw record-breaking registrations in July 2022. The .eth domain is getting ready to be accepted as the new .com domain. The project has started to attract real interest lately. ENS is not just a coin. At the same time, it makes the use of the wallet more user-friendly.

ENS also has token management and voting mechanisms. Until now, many token administrations have used administration tokens over DAOs to issue tokens. But management means something here. ENS says they currently have over 500 integrations. The tweet below contains up-to-date on-chain data of the ENS network.

Wallet engine for NFTs: XTZ

Ranking second, Tezos has done important work to make Blockchain technology more efficient. Tezos becomes the 12th Blockchain for USDT. Tezos has other features as well. The network supports full smart contract functionality.

Tezo also comes up with its NFTs. Analyst Shash is keeping a close eye on NFTs on Objkt, one of the largest NFT marketplaces on Tezos. Meanwhile, almost everything Tezos touches thrives. According to a recent report, Tezos is doing better than it was a year ago.

Efinity (EFI)

Efinity’s goal is to use Polkadot’s interoperability features to migrate NFTs across many Blockchains.

Also, it is clear that a faster blockchain than ETH is needed to process NFTs. This is the purpose of Efinity’s launch. Apart from that, they are working on Polkadot’s 6th parachain. They have some great new partnerships, like helping bring NFTs to one of the biggest games in the world. Analysts are waiting for other games that want to add a Blockchain/NFT component to Efinity.

BNB Coin (BNB)

The last altcoin on the list was BNB. BNB has the world’s largest crypto exchange on its own network, the BNB Smart Chain. BNB Chain has by far the largest DeFi volume after ETH, and 3 times more DeFi volume than Avalanche, which is the third. They do tons of DeFi transactions, not just on BSC’s largest AMM, PancakeSwap.

But remember, there are 2 token standards on Binance. BEP2 and BEP20, which are EVM compatible versions. Also, BNB is staked in many places. But one feature in particular is the BNB Vault. This option allows staking directly on Binance.

Not only that, you can also use the BNB you keep in the Vault for eligibility for launchpad so you can invest in new projects if you want. Also, Binance integrates many of its services.

On the other hand, BNB is currently very close to its total supply. While BNB starts with a total supply of 200 million, regular quarterly incineration works are carried out to bring it down to a total of 100 million. The current supply is 165 million and the circulating supply is 163 million, on the way to a total reduction of 50%. This means that, unlike the low-circulation coins, there is no oversupply of tons entering the market. In fact, Binance’s goal is to pull the supply out of the market. According to analysts, if tokenomics is important to you, or if you’re in an uptrend on the BSC or Binance global stock market, then BNB might be ideal on your August radar. Analysts underline that BNB tokenomics is the best on the list.