After a rough few months, August had crypto investors buzzing about a possible bull run on the rise when the total market cap for the whole cryptocurrency market went back above the $2 trillion mark for the first time since May. During the month, Ethereum’s (ETH) London upgrade and speculation on Cardano’s (ADA) smart contracts saw both coins see steady inclines.
So far this month, Bitcoin’s price is back under $20,000, and Ethereum’s price has dropped below $1500. In addition, the global crypto market capitalization has shrunk below $1 trillion, shrinking by more than 6.5%, as a likely result of Fed Chair Jerome Powell’s recent speech on inflation.
Despite these uncertain times, there are still cryptocurrencies out there that can provide a safe haven amidst the volatile environment.
Cardano (ADA)
First up is Cardano. The cryptocurrency’s price already rose by over 100% in August. Still, September will also be a big month for the coin that wants to use blockchain to solve real-world problems. This is because, on September 12, Cardano will finally launch its smart contract functionality. Additionally, on September 25 to 26, Cardano will host a series of virtual and live events at the Cardano Summit.
Despite the cryptocurrency having its share of skeptics, in the long term, it is still one of the most solid and exciting undertakings in the crypto world. This is due to its research-driven approach, which has created a robust and sustainable platform. Cardano is already delivering several projects in Africa. One of its next hurdles will be recruiting developers once the smart contracts are up.
Helium (HNT)
In what can best be described as a coin where blockchain meets wifi, Helium has created what it has coined the “People’s Network.” The platform provides 5G connectivity worldwide without the exact costs associated with traditional telecoms infrastructure. Its revolutionary concept is an excellent example of how blockchain technology can help solve problems experienced, especially in developing nations where connectivity can be scarce.
Similar to the wifi router in your house, Helium’s hotspots, aka LongFi, can reach 200 times further than an ordinary router. Once set up in their homes or offices, users can earn HNT tokens as a reward for providing increased wireless coverage to their communities.
There are already almost 150,000 Helium hotspots worldwide, with over 3,000 in Los Angeles alone. The company raised over $100 million in August, securing backing from big players in crypto investing like Andreessen Horowitz, Alameda Research, and Ribbit Capital.
Zambesi Gold (ZGD)
Zambesi Gold is a monetary system backed by the value of physical gold, designed to disrupt the gold mining industry. Similar to real gold, the immutability of blockchain and the implementation of smart contracts ensure ownership is secure and transparent.
Like real gold, ZGD is perfectly divisible, with historical and inherent value projected for the future. Still, thanks to the immutability of blockchain technology and the implementation of smart contracts, this investment ensures ownership is secure and transparent.
The number of tokens will be fixed, preventing inflation; therefore, a token’s value will increase, irrespective of the demand for the token or the gold price. Zambesi Gold also has an agreement between the Zambesi Token and its investors that no fractional lending will occur.
25% Of the profit gold from all Zambesi Gold (Pty) Ltd goldmines will transfer to a fiduciary trust in terms of a registered streaming agreement and will be independently audited. A minimum of 4kg of gold from the first acquisition of the Middelvlei mine, as well as fixed guaranteed minimum thresholds from future projects, will be put into a vault of an independent A+ custodian bank. The bank will issue an SKR (custodian safekeeping receipt) which will belong to the trust and be governed by independent professional trustees who will audit and report quarterly. The gold will never be encumbered or borrowed upon, ensuring escalating value for all token holders. Liquidity will be provided through an exchange mechanism allowing a token holder to redeem his proportionate value of the gold held in the trust. The redeemed tokens will be burned [removed from circulation], creating more value for the remaining token holders.
VeChain (VET)
Supply chain platform VeChain, which harnesses blockchain technology to improve business processes and track each stage in the supply chain, has already gained 40% in August. The platform is already working with Walmart to track food products at each stage of the production and distribution process.
The platform recently announced a new platform that uses blockchain technology to track carbon footprints. VeChain’s tool is revolutionary as it provides a transparent way for companies to monitor their carbon consumption across the whole supply chain, allowing businesses to offer their customers “full oversight of carbon data and green claims.”
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.