- Altcoins have started topping the charts again as their prices have continued to grow despite the fact that it has not been confirmed as altcoin season.
- $HYPE, XRP, and PENGU have shown a potential for growth due to the significant whale and user interest in recent times.
Altcoins are making the headlines again as they’ve started to top the charts and bring in large investors who are constantly pouring money into the crypto market.
Although there are still a large number of people predicting that the Bitcoin bull market is not over, the upward movement of other altcoins cannot be ignored. And today, we’ve put together a list of some of the altcoins that have shown potential for growth in July.
Altcoins That Have Shown Potential for Growth
1. Hyperliquid (HYPE)
$HYPE is the native token of Hyperliquid, a decentralized perpetual exchange platform that allows users to trade perpetual contracts without any form of intermediary. In simple terms, Hyperliquid is changing the trading ecosystem by allowing users to trade perpetual crypto contracts without the need of any intermediaries, be it government or even fellow traders.
Unlike other exchanges like Bybit and Binance, Hyperliquid doesn’t need users details like KYC, it doesn’t charge gas fees, and it is out to make trading cryptocurrency easier, faster, and cheaper for users.
Due to the innovation Hyperliquid is bringing, whales and retail traders have poured huge amounts of money into its token, $HYPE.
According to details obtained from Hypurrscan, a whale bought approximately $6 million worth of $HYPE on the 27th of June, and two days ago, the same wallet continued to buy more $HYPE. The whale now holds about 540,134 $HYPE tokens.
2. XRP
XRP is a well-known altcoin that has continued to see investors’ interest. The token has seen a 1.4% increase in the last 30 days, and the number of whales has increased. Data from CryptoQuant shows that whales are ready for a major price move as they poured a lot of money into buying the token in May and June after the major selloff that happened from January to April.
3. PENGU
PENGU is the native token of the Pudgy Penguins NFT collection. The token was officially launched in December 2024 and has a huge focus on community. On the 28th of June, Nansen shared data thatshowed that about 1.67 billion PENGU are held by whales.
It was also recorded that the Chicago Board of Exchange (CBOE) filed for an approval of PENGU ETF, thereby allowing the trade of its memecoin PENGU and Pudgy Penguins NFT. This approval alone caused the price of the token to skyrocket, and as of the time of writing, it sits on a 48.8% increase in the last 7 days.
Although, as per normal in the crypto space and any financial market, there’s no certainty as to how the market will go, it is important to note that these three altcoins have shown potential for growth in the month of July.
Also Read: Pudgy Penguins (Pengu) Gains 50%, Sets Short-Term Target at $0.01745
