As of Tuesday, July 19, 2022, the cryptocurrency market seems to be doing well. Bitcoin went past the $23,700 mark to hit a new all-month high for the month and climbing. Altcoins have also been doing quite well in the last month of June. One of the best performers has been Polygon (MATIC), whose price has grown more than 7 percent. Ethereum is also doing great, with its price rallying over 7 percent to top out at over $1,600 in the past 24 hours. Find out more in our market analysis.
Overall Performance of the Cryptocurrency Market
The crypto market overall is doing quite well, and it has risen past the $1 trillion mark. For most of July, the crypto market has experienced major upheaval. Numerous projects have shut down. Other external factors have contributed to this upheaval such as rising inflation, geopolitical concerns, and looming fear over rate hikes due to inflation.
Some market experts believe that while the crypto markets have started on a positive note this week, it is still too early to declare success. They believe the worst is not yet over. In their opinion, this is a temporary bounce, and market participants should prepare for a prolonged winter. They believe that, as negative news starts streaming in towards the end of the week, most of the gains will be wiped out by next week.
Projects to Invest In the Cryptocurrency Market
While experts predict the crypto markets will perform poorly overall, high-risk investors can still find some gems in which to invest. The experts suggest looking at market-leading gaming and Metaverse projects. The GameFi sector, as it has come to be known, is expected to go against the grain somewhat. Some of the top crypto projects to consider this week are:
Battle Infinity
Battle infinity is a gaming platform designed for multiple P2E battle games. It is one of the top altcoin projects to consider investing in this month. The platform combines gaming, NFTs, and DeFi. It is the perfect ecosystem with options for all.
Lucky Block
Lucky Block is another lucrative altcoin project that you should consider in 2022. It is designed as a special ecosystem that focuses on fair and transparent P2E games. The project features a lottery system built on a blockchain protocol. The project is based on the premise of randomness to ensure fairness via smart contracts.
Polygon
Polygon is one of the best-performing projects in 2022. This week alone, its value has appreciated by double-digit percentages. Polygon was designed as a Layer-2 network built on top of the Ethereum blockchain. Its goal is to offer all the benefits of Ether (ETH) at low cost and high speeds.
DeFi Coin
DeFi Coin is another lucrative project you should consider adding to your portfolio. It is the native token of the DeFi Swap platform, which is a decentralized exchange (DEX) that supports staking, swapping, and yield farming. Since its launch in May 2021, it has seen a lot of growth, with prices increasing by as much as 300% on an intraday basis.
That is an overview of the crypto market as of July 19, 2022, and some of the most lucrative projects in which to invest.
