In the ever-evolving world of cryptocurrencies, July 2023 is shaping up to be an exciting month with major upgrades planned for several key players in the space. Here’s a sneak peek at five cryptocurrencies that you should keep an eye on.
1. Filecoin: The Shark Upgrade
Filecoin, the popular decentralized storage network, is about to become even more powerful with its upcoming “Shark” upgrade. Aimed at improving programmability, efficiency, and user experience, the Shark upgrade is expected to solidify Filecoin’s position as a top-tier decentralized storage solution.
2. Arbitrum : Mainnet Upgrade
The current price of FILUSD is $4.01700000, with a positive change of 1.59% in the last 24 hours. The recent high and low for the day are recorded at $4.02470000 and $3.91210000, respectively. In terms of technical analysis, the current sentiment is neutral. This indicates that there is no strong indication of a particular trend or bias in the market.
Arbitrum, an Ethereum layer 2 scaling solution, is eagerly preparing for a significant Mainnet Upgrade. This upgrade promises faster, more cost-effective transactions and enhanced scalability and usability. With Ethereum’s security and decentralization at its core, Arbitrum’s Mainnet Upgrade is set to position it as the layer 2 solution of choice.
Arbitrum (ARB) is currently priced at $1.15, with a 24-hour trading volume of $403,867,291. Over the past 24 hours, ARB has experienced a decrease of 1.09%. With a market cap of $1,470,737,888, Arbitrum holds the 36th position in the cryptocurrency market rankings.
3. ZIL: Mainnet Upgrade and Staking Contract
ZIL, the native token of the Zilliqa blockchain, is on the brink of a transformative Mainnet Upgrade. Coupled with the introduction of a staking contract, this upgrade is designed to improve network performance and scalability. Allowing ZIL holders to secure the network and earn rewards, these developments are set to strengthen the Zilliqa ecosystem and attract a larger user base.
ZILUSD (Zilliqa/Dollar) has shown a positive price movement, with a current price of 0.02121061 USD and a gain of 1.68%. It is worth noting that the cryptocurrency is currently trading in the crypto spot market.
Looking at the technical indicators, the Relative Strength Index (RSI) with a 14-day period is at 56.26, indicating a neutral sentiment. The RSI value is relatively close to 50, suggesting a balanced market between buying and selling pressures. Additionally, the RSI 14 close SMA 14 2 value stands at 46.92, which indicates an average performance for this particular metric.
4. Flow: Staking Contract Upgrade
Flow, a blockchain designed for building decentralized applications (dApps), is gearing up for an essential Staking Contract Upgrade. This upgrade aims to enhance staking mechanisms, allowing users to stake their FLOW tokens, secure the network, and earn rewards, thereby promoting growth and participation within its ecosystem.
At the press timw, the FLOW/USD price stands at $0.6018, reflecting a 24-hour price increase of 9.07%. The market cap of Flow is $623,571,106, with a 24-hour trading volume of $62,027,896. Flow has a circulating supply of 1,036,200,000 FLOW coins.
5. KAVA: Kava 14 Release
Finally, KAVA, a decentralized finance (DeFi) platform based on the Cosmos network, which is anticipating the release of Kava 14. This upgrade would introduce architectural enhancements designed to help developers scale their protocols on the Kava platform. By tackling scalability issues, Kava aims to provide a robust infrastructure for building decentralized finance applications.
KAVA/USD currently trades at $0.9437, reflecting a 24-hour price decrease of 3.21%. The market cap of Kava stands at $568,549,356, with a 24-hour trading volume of $51,010,389. Kava has a circulating supply of 602,484,811 KAVA coins. However, technical analysts remain optimistic about the future of KAVA/USD as the RSI 14 is currently at 52.17, indicating a strong buying pressure. The DMI 14 ADX (14) value stands at 32.79, suggesting that the market trend has begun to pick up momentum.
In conclusion, July 2023 promises to be an exciting month for the crypto market with significant upgrades expected across multiple cryptocurrencies. Filecoin, Arbitrum, Zilliqa, Flow, and Kava are all set to introduce substantial improvements to their platforms, enhancing scalability, transaction speed, and user experience. These developments not only signify progress within the respective platforms but also reflect the broader evolution of the blockchain industry.
