Top 3 Coins to Watch July 05 – July 11, 2021

| George Kingslay

As we move into the beginning of Q3, a number of projects are moving ahead with continued development, and this week’s choices are set to benefit from significant updates and announcements that should strengthen their market positions and benefit their communities. The news should also result in increased amounts of attention to each respective currency over the coming weeks.   

1. Helium (HNT) 

The Helium ecosystem supports a decentralized machine network that allows anyone with a Helium Hotspot to earn HNT tokens by building a wireless network in their city and creating a more connected future.

Why Helium? Mainnet Validation Launches on July 7      

The Helium team have announced that the mainnet validation process will be activated on July 7. As a result, Mainnet Validators will perform Consensus Group work in order to earn HNT tokens, and expand the ability for Helium network participants to earn HNT rewards. In addition to running hub spots and mining HNT, it’s now possible to stake, and/or become a validator with over 600 nodes in operation across the network. There has already been over 6,000,000 HNT staked, and anyone interested in staking their tokens can find out more here. 

2. Ethereum Classic (ETC) 

Ethereum Classic is one of the two crypto assets that emerged after a hard fork of the Ethereum network in 2016. The basic premise of Ethereum Classic is the same as Ethereum’s, and it maintains the continuity of the Ethereum blockchain. However, Ethereum Classic uses Proof-of-Work to secure the ledger of transactions and, the total supply of ETC is capped. 

Why Ethereum Classic? Magneto Network Upgrade Scheduled for July 07    

The Ethereum Classic Magneto Network Upgrade has been confirmed to take place at mainnet block 13189133, which is projected to occur on July 7. The Magneto hard fork upgrade will include of all the Ethereum Berlin upgrade features, and take place on all the Ethereum Classic testnets before going live on mainnet. Node operators will need to upgrade to “Magneto-ready” clients such as Hyperledger Besu v21.1.7, and Core Geth v1.12.2 with a Mantis release date soon to be announced. The hardfork will improve the security and interoperability of the Ethereum Classic network, and anyone interested can find out more about Magneto here. 

3. Pivx (PIVX) 

PIVX is a cryptocurrency whose name is derived from Private Instant Verified Transaction. It’s an anonymity-based coin and a decentralized, open source project with a strong and enthusiastic community. The underlying technology behind PIVX includes a mixing mechanism based on CoinJoin, administered via a method of masternodes. 

Why Pivx? A Mandatory Network Upgrade Takes Place on July 09     

The Pivx team have announced that the release of their Core Wallet v5.2.0 will accompany a mandatory upgrade that will take place at block 2,927,000, estimated to occur on July 9. The upgrade reintroduces cold staking and the new wallet release contains a protocol version bump and new consensus rules and improvements that are not backwards compatible older wallet releases. Anyone who doesn’t upgrade before the 2,927,000 enforcement block will be out of synch and end up on a forked chain. Masternodes will also need to be restarted once the masternode daemon and the controller wallet have been upgraded, and you can read more about the Core Wallet v5.2.0 release and network upgrade here. 

How did the coins perform last week?  

The seven day period generally led to positive results across the market; although THETA fell by 4% and is currently trading at around $6.30. BMI grew by 25% and is currently trading at $0.66, and MITX improved by 2% over the week, and is currently trading at $0.03. Over the course of the week, the market moved from an overall valuation of $1.452T to $1.48T.    

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