As Bitcoin (BTC) continues to range, it might be the right time to slowly reinvest into altcoins in order to get ready for the next bull run which will start when we do not expect it. To choose the right ones, it makes sense to focus on top altcoins and to look at bullish news. There are three altcoins this week which could be impacted by bullish news:
1) Ethereum (ETH)
According to Coingecko:
The ETH supply will be updated on 1 July 2022 to account for Proof-of-Stake issuance and Fees Burnt following the upcoming ETH 2.0 Merge. The ETH supply will be revised from roughly 121,260,905 to 119,419,978 ETH and market capitalization will be reduced accordingly.
This reduction of ETH supply will likely have a positive impact on ETH price if BTC does not dump further.
2) Cosmos (ATOM)
According to NewsBTC:
Ethereum-based decentralized trading platform dYdX will be deployed as an independent blockchain on the Cosmos ecosystem.
It is interesting to note that dYdX moved from Ethereum layer 1 to layer 2 Starknet, before finally moving to Cosmos. This could be bullish for Cosmos ecosystem and hence for ATOM, which is the main coin of Cosmos.
3) Solana (SOL)
According to THE BLOCK:
Coinbase launches redesigned mobile DeFi wallet, adds Solana support
That's also interesting news, showing that Solana, despite all the FUD, is slowly being integrated into major wallets. Just imagine what will happen if Solana leaves the beta phase and fixes these network outage issues. Solana is currently revising its gas fee structure to fix these issues, which is quite promising.
In summary
Nobody can predict how cryptos will evolve in the near future, especially if BTC continues to fall. However, if there is a new bull run, the three coins above will likely be part of it.
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