The post Best Crypto July 2024: BlockDAG Gets The Crown Marking $54.5M in Presale While Dogecoin & Ethereum Classic Slump appeared on BitcoinEthereumNews.com.

Dogecoin recently faced significant liquidations, wiping out $60 million from its futures market. In contrast, Ethereum Classic faces challenges due to low revenue and limited development activity. Given these changes, crypto analysts have named BlockDAG the best cryptocurrency of July 2024, citing its impressive presale performance as the primary reason.  BlockDAG’s presale has already surpassed $54.5 million, with projections suggesting it could reach $100 million before the mainnet launch. This sets the stage for exponential growth in the coming months. As the crypto market experiences minimal growth, BlockDAG presents a significant opportunity for investors. The Fortunes of Dogecoin Affect Investor Attitudes A dramatic drop in Dogecoin’s value by over 10% triggered substantial liquidations, the largest since 2021. Dogecoin recently faced significant liquidations, wiping out $60 million from its future market, primarily on the Huobi exchange. The majority of these liquidations involved long positions, where investors anticipated a price increase for DOGE. This massive sell-off, driven by external macroeconomic pressures, has heightened unease among Dogecoin supporters and the broader memecoin community, marking one of the most substantial liquidation events since 2021. Ethereum Classic (ETC) Struggles with Low Revenue Ethereum Classic (ETC) faces significant challenges, generating minimal revenue and showing little development activity. Despite having a market capitalisation of $3.5 billion, ETC produces an average of only 15 ETC in weekly revenue, equivalent to $359 at current prices. Created from a hard fork of Ethereum, ETC has struggled to maintain momentum, with minimal usage and development support. Critics, including Charles Hoskinson, have labelled it a “dead horse,” reflecting its stagnation in the blockchain space. BlockDAG Named Best Crypto of July 2024 By Analysts In a dramatic turn of events, crypto analysts have hailed BlockDAG as the standout cryptocurrency of July 2024, citing its impressive presale performance as the primary reason. With the…

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Filed under: News - @ June 30, 2024 9:04 am