Bitcoin is still yet to spark into any sort of life — not going up, nor going down — but that has meant the altcoin scene is still quite lively and there is a good opportunity for certain coins that continue to do good work.
Many coins have been trying to spark an altcoin season all on their own in 2020, while other major cryptos keep progressing this year in what feels like a year of ‘buidl.’ What is good to see is that projects that benefited from the 2017 altcoin season have managed to ride that momentum for a second wave.
Stellar’s XLM coin is on the rise at the moment, but it is coming off some big activity from the Stellar team. According to the project’s Q2 report, the blockchain network has remained quite active in terms of new collaboration and investments. Furthermore, several core network upgrades have also been finalized that are expected to enhance the Stellar network.
The possibility of Stellar (XLM) being the next altcoin to pump was highlighted by Peter Brandt on Twitter.
Cardano benefited from a successful, albeit virtual, conference where news about its latest development, Shelly, was highlighted and shown to be making good strides. The advancements from Shelly also look like it could align Cardano and its ADA token with the growing DeFi space.
The coin is getting closer and closer to its scheduled hard fork on July 29 whereas on August 18th, all Stake Pool Operators and Pioneers will migrate to the Shelley Mainnet and start producing blocks. This is one of the most important and difficult steps.
Chainlink has also been in the news a lot recently, and all through 2020, having raised in price by nearly 400 percent. Chainlink has been making strides in its use cases because of its powerful Oracle capabilities that make smart contracts all that much smarter.
However, LINK is also an interesting coin to watch as there are feelings that some bad actors are doing what they can to try and short the rocketing project after a campaign made its way into the cryptocurrency space that sees a company called Zeus Capital looking to get a report out that claims Chainlink is a scam company