Crypto-currency prices continue to fall, but these 3 altcoins are ones to watch in September

Unfortunately, inflation remains high and a recession could be coming. Last week, Fed Chairman Jerome Powell indicated that the central bank’s hawkish stance is likely to continue. The market has already taken a hit from his speech. But expect further volatility around the next rate hike announcement on September 20-21.

In the meantime, a lot of crypto-currency development action is going on behind the scenes. Low prices have not stopped many of these companies from tapping into the transformative potential of blockchain. Indeed, it’s always good to look for ongoing development activity and upgrades, as this is an indicator of a project’s ability to survive in the long run.

Here are three projects not to be missed in September.

1. Ethereum (ETH)

Given Ethereum’s size, it’s hard to consider it an altcoin. However, its move from proof-of-work to proof-of-stake will dominate the crypto agenda. Not only is it the biggest crypto news of this month, but it’s arguably one of the biggest crypto events of the year. The long-awaited merger will take place in two stages, the first on September 6 and the second shortly after.

As investors, be aware that any technical issues could dent confidence in the entire industry, not just Ethereum. There is also a lot of hype and speculation around the merger, which could mean we will see a short-term drop in the price of ETH when the merger is rolled out. If you keep your eyes on the long term, you will be less affected by the immediate hype.

Here are some other crypto-currencies to watch, directly related to Ethereum:

  • Polygon (MATIC): One would think that upgrading Ethereum would be a negative for Tier 2 solutions like Polygon. After all, they exist to improve the performance of Ethereum, so if they improve, won’t they become redundant? That’s unlikely. First of all, the merger will not solve problems such as high gas fees or network congestion. Second, even when Ethereum becomes faster and cheaper, Layer 2 will still be able to improve its performance even further.
  • Ethereum Classic (ETC): Also known as the Ethereum “original“Ethereum Classic was formed after a disagreement that divided the community more than five years ago. It will not move to proof of stake. This makes it attractive to many Ethereum miners whose equipment is about to become redundant.
Read:  Barcelona organizes a major meeting on post-pandemic depression

2. Cosmos (ATOM)

Cosmos garnered a lot of attention in August after investment manager VanEck said he was bullish on ATOM for the long term. That hype may have passed, but we’re still paying attention in September and hoping for progress on the long-awaited Rho upgrade. Originally scheduled for the second quarter of this year, there is no set date, but when it arrives, it will bring better governance and other features.

Cosmos is an interoperability cryptocurrency, which means it helps blockchains communicate with each other. This is an important feature for the industry, and one of the many reasons VanEck is optimistic about its future. It is available on most major crypto-currency exchanges.

3. Helium (HNT)

Helium has fallen on hard times recently. The decentralized network that pays HNTs to operators that run its long-range wifi routers was first criticized for misrepresenting its partnerships. Then people raised questions about its usefulness, citing low monthly revenue figures.

Read:  15 killed in fighting at Bosaso airport after arrival of Somalia's deputy speaker of parliament

Helium responded to the criticism by highlighting the project’s various use cases and outlining the potential market share. CEO and founder Amir Haleem explained that the low revenue figures published in the media are not representative of the network’s total revenue.

Today, Helium is considering moving to the Solana (SOL) network. The community will be able to vote on the proposal, which would simplify the blockchain’s architecture and make it more scalable, in mid-September. A large gathering “Helium House” is also scheduled in New York on September 20.

There is still a lot of uncertainty in the crypto-currency markets, and unfortunately, prices could fall further. Don’t rush out and buy the above cryptos in hopes of making short-term gains. Instead, do your own research and think about how you think they might perform over the long term and how they might fit into your broader portfolio. As with any high-risk investment, only spend money you can afford to lose.

Cosmos and Helium are both interesting crypto projects that have a lot to offer. However, all crypto-currency investments come with risks and these are no different. Cosmos has a bad habit of delaying updates – Rho’s is already late – and some critics say Helium’s business doesn’t need a blockchain at all. It’s also important not to get too caught up in the Ethereum hype. The merger is a big deal, but it’s just one step in a bigger journey. The next big step will be to actually reduce gas costs and improve scalability, and that upgrade isn’t expected until at least next year.

The Best Online Bookmakers July 13 2024

BetMGM Casino

BetMGM Casino